Last post on Oct 13, 2012 at 8:47 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Audi RS5, Audi S5, Car Leasing, Car Buying, Coupe
#57 of 111 2009 Audi S5 Quick financial questions.
Feb 16, 2009 (10:42 am)
Hello to you all. I am currently 22 years old looking to make my purchase of a new car within the year. I have had my sights set on an Audi S5 for quite some time now, and have done extensive research, and have sifted through many reviews(yes even the negative ones =P). I want to upgrade all the options(excluding the carbon inlays), and it comes to be around $62,000. My question to you Audi S5 owners, as far as bringing the price down, how much wiggle room did you have with the dealership(I understand it will vary from dealer to dealer as I will visit many before I arrive to make my decision)? I intend on taking a 60 month loan, probably around a 5.0% interest rate. My down payment will be approximately $10,000. Also, if you don't mind sharing, what were your monthly payments? I have done some payment calculators, but I was just wanting to hear from a real person. I appreciate you taking the time to read this, thanks. =)
#58 of 111 Re: 2009 Audi S5 Quick financial questions. [AudiS5]
Feb 17, 2009 (12:48 pm)
I hate to be a killjoy here. I know you probably think the S5 is the best thing since sliced bread and all that, but at 22 it's a ridiculous purchase.
Just from your figures alone, you'll be paying over $1000 a month and around $8500 in interest over 5 years. I'm not even considering the rest of the running costs here which won't be insignificant, ie insurance for a 22year old on an S5....
The S5 is a large GT cruiser car anyhow, more suited for older gents. Why don't you check out the any number of great cars at half that price and save yourself a fortune? You'll regret being stuck with such a financial burden after a while. At 22 you should be traveling, going out, saving something for a house/condo etc. Don't waste everything on a car. Just so you know, after even just a month or two, your $10k cash down-payment will have vanished. Just contemplate that for a minute or two. At the very least, you should be looking at used cars. IF you have to have a V8 Audi, get a two year old S4 and save yourself half the money.
You'll be doing well to get 5% discount on S5s still at the moment, still fairly hard to come by.
#59 of 111 Re: 2009 Audi S5 Quick financial questions. [amdscot]
Feb 17, 2009 (9:25 pm)
I understand the financial accountability, and I am capable of making such payments. I fail to understand though, is why age would matter in this situation. I've been told regularly that I cannot do something..this is what I wish to do, I was simply seeking some admonition so I would know what to expect at the dealership, as it would be my very first new car purchase. I have spoken with my insurance agent and an Audi S5 would run me $270 monthly. Based on the auto calculators, a $1,000 car note seems right if I were to pay full retail, as it seems that that might be the case here. Yes I have thought long and hard about the $10k down payment and the 5 year loan, and it's what would be best for me. I have wanted this car for quite some time now and I assure you I will get it. To be quite honest I am not a huge fan for the S4 =/. Any more input would be appreciated =)
#60 of 111 Re: 2009 Audi S5 Quick financial questions. [AudiS5]
Feb 20, 2009 (5:18 pm)
S5's are still pretty rare. I would say you'd be doing well to get a couple of grand off at the moment. If you start ordering with particular options, you may get no discount at all. There's little in the way of finance deals on A5/S5's either.
$270 a month for insurance is insane as well. You're going to end up paying $1300+ for car and insurance alone. Try bankrate.com. You can plug in whatever interest rate you can get and it will show you the payments over time along with the interest.
If you can afford those sorts of monthly payments, then you should still buy a cheaper car for a few years. Put the rest of the high payments away for a couple of years (it's called saving), then you'll be in a significantly better position to buy an expensive car. Just look at how much interest you'll be paying. It's your money though. Good luck.
#61 of 111 Re: 2009 Audi S5 Quick financial questions. [amdscot]
Feb 28, 2009 (12:50 am)
S5 is a very good looking car. But i will not spend almost 70k OTD for that car.
There are a lot of choice at that price point. I would consider a BMW 335i or maybe wait for the new MB E Class coupe.
As amdscot said, $1300 / month car payment and insurance is a lot of money.
I would rather invest it on something else.
Feb 28, 2009 (7:20 am)
I agree that the S5 is pricey. You have to be thoroughly enamored with the Audi feel, appearance and engineering to spend this amount of cash. I was an owner of an allroad. Audi has not filled that gap in this country so I changed my tastes. The S5 is a great touring car as well as a barnstormer. It drives and rides different than a Beemer ( of which my wife owns) and MB, that is why you buy it!
#63 of 111 My A5 Experience
Mar 10, 2009 (12:27 pm)
Over the past few months, I have been collecting a lot of information both on the A5 as well as possible financing both with Audi as well as other sources. After test driving one here in Rhode Island I decided that this is the car I want. However, lease offers were horrible even though Audi came out with better money factors and residuals. I came to the conclusion that I might have to purchase an early 08 model that comes in as an off lease to be able to afford this car. One night after searching local dealer sites I noticed a 09 A5 configured almost exactly the way I wanted. All I would have to sacrifice is the Technology Package. The list price was $49,900. I decided to go and see what I could get. After talking to a very informed representative I was able to get the price down to $47,500. With my trade, I was able to get 84 month financing at 6.9% through Citi Financial (but done with the dealer). My payment ended up at $579.00 per month.
If you decide to purchase this car and select the little extras that I did, you should be aware of their true cost.
Audicare - price $650, dealer price - $350
Tirecare - price $475, dealer price - $175
These extras were given to me at cost to close the deal.
WHAT A CAR !!!!! Wow.
#64 of 111 Re: 2009 Audi S5 Quick financial questions. [AudiS5]
Mar 12, 2009 (3:48 am)
I've read your messages, and I see your very eager to purchase an S5,
I am in a similar situation as you are, but not for buying the S5, but a different car, and not by taking a 5 years loan.
Since this will be your first purchase for such an expensive car, have you test driven other cars? For example, 135i,335i, there is a newer E class coupe coming, IS F, but I think IS F is even more expensive.
Keep us updated and do remember to share your experience.
#65 of 111 Re: 2009 Audi S5 Quick financial questions. [amdscot]
Mar 12, 2009 (3:56 am)
I noted the advice you gave to (AudiS5)
I was thinking about doing a similar thing as (AudiS5) is doing, but without taking such a big 5 years loan, and for a different car, not the S5.
I might take up on your advice and think about what you said.
You're right there are many cars to choose from, which aren't as expensive.
I'll most probably go for a Japanese car.
#66 of 111 Re: 2009 Audi S5 Quick financial questions. [bmlexus]
Mar 12, 2009 (10:51 pm)
Thanks for the input regarding the A5, it gives some perspective. I have looked around and am taking the advice from Amdscot. I decided to try and look for a used S5 or possibly shoot for an A5 and push more into savings. I think both are fantastic cars( I have test driven both ), but I do enjoy the response time of the S5. I am both excited and nervous about such a big purchase, and want to be sure I can afford it. I absolutely love these cars! =) Any more advice or prices paid for A5/S5 with a similar loan would be appreciative!