[traydenbellean]

So, my S5 is due early August (delays aside) and I'm really starting to get stage fright over the cost. I estimate (based on LeaseCompare.Com) that this is going to cost me, with $3k down, almost $1k/mo! Now, I really like the car, but I'm starting to think I'll get my deposit back. I think I make more than enough money, but have a mental block about it. And, I live in SF, where affording a house means saving up big $$$. Being able to do Euro Delivery might have sealed the deal, but my salesman said that since the car was in production, it was too late.

Anyone want to talk me into, or out of, this lease or purchase?!?

 

[Blacky3.2]

Bite the bullet and stay the course. I had the same thoughts with my A5... but only for a second. If you plan on keeping this car over 3-4 years buy it. I would also see if you can get the 3.99% rate (up to 72 months) that Coast Hills Fed Credit Union has. You might be out of there area though.

My only concern would be the garage situation. You have to have a garage. I think back to that poor bastard over seas with the RS4. Somebody threw paint thinner on his poor car. With all the flaming Liberals up there, not that there is anything wrong with that, I would be nervous.

 

[PinkPanther]

Say Tray sounds like you going through exactly what I have been through. This is my first company car (although I own the company) and I set out to look at the 2.7 TDi as I had seen one in a village near to me. Had a test drive in 3.0Tdi sport and both my wife and I loved the car (after test driving BMW's) and this was the car that I wanted it was fantastic. Great miles per gallon and very nice performance etc etc. Then I got put in the S5 for the afternoon there goes the 3.0 out the window, I got to have this car it is stunning.

That was beginning of April and I have been talking myself in and out of this car, I am also leasing mine and putting 2.5K down and repayments around the £750 mark per month. I have watched the petrol prices rise I have done the calculations over and over of just how much this is likely to cost me in petrol etc etc.

But I come back to the same thing, I work very hard so that I can obtain nice holidays, house and cars etc and there is one thing for sure in this life you are a long time dead. If you can afford the S5 get it, if you want the S5 get it as you will regret not getting it when you had the chance. Only diff is that I own my own home so I dont have that in the equation.

Life is here to be lived to the best that you can dude, so take the car and enjoy it as you just do not know what is around the corner and you cant spend your hard earnt cash from 6 feet under.

Take it you know you want to

 

[shivan150]

is that $1000/mo with $3000 down a lease estimate or a purchase/finance estimate? I'm pretty sure a S5 financed at some of the best rates today with $3000 down would be well over a $1000/mo?

 

[traydenbellean]

Shivan - the $1k/mo is a lease rate from LeaseCompare for CA w/ $3k down & 15k miles/yr. I noticed the rates going up multiple times over the last week.

Blacky & PinkPanther - Thanks for the support! I have a garage and would never park my blood, sweat, tears & hard earned cash on the streets of SF (any one you ever heard of a Marina Bumper...haha). I work north of 80/hrs a week, so you're right about enjoying the fruits of my labour. I'm sure once I sit in it, I will fall in love. Although, it'd be nice to fall in love with a house too...

 

[busipaln]

How much Mileage will you be doing a month. Add Fuel Cost to that total as well. I spend $500 on Fuel a month for the S5.

If you think you can afford it and still be left with change for lifes necessities, then do it! - Its a top Car! - Just remember all the additional costs that come with it.

 

[A5AFTERB5]

Having lived in S.F. for 20 some years, I can't imagine living there with car payments like that. Insurance is also a factor regardless of a lease or purchase. The A5 made more sense to me than the S but hard to argue 354HP! Going up Sacramento St. to the Fairmont would be quite easy in a S5!!!!

Personally, I keep cars for about 10 years on average (my last 2 were 11 and 10 years old) so a lease doesn't work with me but if you change cars every 3 years, I guess a lease makes sense. That is the good news. After $36,000, you'd be done (assuming it's a 3 years lease.) But I'm guessing insurance will be something like $3,000 per year depending upon your age and miles/year you estimate you'll be driving it. Better talk to them first to get the full cost of ownership picture.

 

[Jimmyz]

I just checked with my local dealer a few days ago, and, unless LeaseCompare includes taxes in the estimated montly payments, a 3 year lease through Audi Financial should be around a 100 bucks a month less than through LeaseCompare.

 

[SupraBlur]

I think I make more than enough money, but have a mental block about it. And, I live in SF, where affording a house means saving up big $$$.

I get into this whole house versus car debate all the time with some people I know.

In California, you need to put down 20% on a home, and in San Francisco or Los Angeles, you're not even getting a decent condo for under $400k. That means you need to put together ~$80k before you can even think about it. Even if you earn $100k (which means taking home 70k at best), and your rent is $1500, and $1500 in misc other bills, food, etc, (assuming you have no existing car payment) at most you are saving around $2k per month towards your house. This comes out to roughly 40 months.

It comes down to a personal decision. What will bring you more enjoyment out of life -- waiting out the next few years without the fun car you want so that you can own an entry level home? Logically you might earn more income within those few years, so buying the car you want might be easier at that point, but you will be a few years older. It's pretty easy how this route leads to the stereotypical image of a 50 year old man and his brand new Corvette.

Or... will it be more enjoyable to have the fun car now and then start thinking about seriously saving for a home in 4-6 years when the car is paid off?

If the operating expenses bother you that much, get an A5. Just as stylish, almost as much fun, and more importantly cheaper to run. My cancelled order is arriving at the dealer next month, if you're interested.

Go with what makes sense for you. I stopped listening to my money-hording CPA friends, whose mission in life seems to be to accumulate as much money as possible and then die with it.

-Ray

 

[A5AFTERB5]

I actually agree with SupraBlur... waiting till you're 50 (lol, I'm that this year) and then looking back and saying "why didn't I do this sooner!"

In retrospect, yeah, hind-sight is 20/20, look at the big picture. A house is going to be a long term comittment. At least 30 years. If you buy entry level, then sell for a profit and dump into an upgrade, and so forth, your house buying is essentially a life long pursuit, assuming you join the rat race (work with regular pay raises, good investing, living within your means, etc.)

As you're witnessing, housing goes into cycles of lows, then highs, then "higher", then lows, then repeats.

When I bough my house in 91', it was STILL going down from it's lofty 340K to a bottom of 309K! I bought in at 319K not knowing. Today, I can sell it for over $800K, possibly $900K.

You're in a pickle because this IS the best time to get into a house while it's still "relatively" low. I guarantee you it'll pick up again in about 5 years. But step away from the forrest.... like I said before, a house is really a life long journey.

So knowing what I know today, if I could go back in time, instead of that GTI I bought, I think I would of rather of bought an M3 in 86' or a Porsche 944 Turbo! So I'm eating $0.10 Top Ramen and PBJ for a year.... I know I would have been much happier and STILL have a home.

But that's me. I'm that 50 year old with the two cars in my Avatar (HAH, I got them BEFORE I turned 50!!!).

PS: might be asking "so why the A5"? to be honest, I didn't want the high HP sedan because my wife would be driving it. She insists I drive faster than her but my kids never lie; she drives faster than me!!!! My speed fix is the Cobra at over 400hp so I didn't need it in the A5. And fortunately, the dealership didn't have an S5 to test; it might of been a different story! ;D