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Old 08.05.2021, 11:58
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Leasing a 6 years old used sports car

Hello everyone!

I wanted to start this thread for some general advices on the topic of how big of a leasing contract on a used sports car is smart to take considering ones financial situation, but also to ask for advices on my case since I have never leased a car.

So in general, I would like to hear your opinions on leasing a used sports car (5+ years, less than 80k km):
1) how to know when you are ready (finacially-wise) to lease such a car?
2) how much money (in your monthly budget percentage) is "ok" to spend on it?
3) is it potentially a too big of a money pit, when you count in all the repairs, services and other unexpected costs?
4) apart from the monthly leasing price, insurance rate and gas - how much extra money a month would you say it is neccessary to put aside for the unexpected costs? Is there a rule of thumb for this?

My example: I have started working in Switzerland few months ago (got a working permit type B) and I am starting to get a feeling on how much (my) life costs in Switzerland. I have got a pretty stable job (in the IT sector), but I believe that I am still not entitled to any unemployment benefits if I lose my job, since I have not been working in Switzerland for at least 12 months in the last two years. From what I can tell, when I cover all of the monthly costs, I will be able to save around 4000 francs each month. I dont have any meaningful savings that would make an impact on the leasing decision, yet.

The car I would like to lease is:
Audi RS7
year: 2014-2016
kilometers: 60k-80k
price: ~60k francs

The lease specs I am considering:
cost: ~1000 francs
lenght: 3-5 years
km per year: 20k
downpayment: 0 francs

Additionally, the car insurance for such a car would be an additional 300francs per month. This would mean that total monthly costs would be around 1300francs (without gas costs). There are the unexpected costs, like something breaking down, but these cars do have 100k km warranty, so some of it is covered for the first year or two. Doing some simple calculations, 1300 francs a month is around 33% of what I am able to put aside financially and it seems like a percentage that I would be ok with to put into a car considering my interest into cars (maybe I shouldn't be, so let me know if it sounds crazy ).

This is the list of my concerns and questions (some are the noob ones, sorry):
5) what would you consider a good leasing deal on a 6,7 year old Audi RS7?
6) what other significant costs should I be prepared on? Other than tires, brake discs, oil change, etc...
7) am I making a big financial mistake potentially and would you consider car financing before any type of leasing?


And the part about the dealer you are leasing the car from:
8) how to check if a car dealer has a bad reputation and how much is that of importatnt in the case of leasing?
9) if I choose the option to have a 0 francs downpayment, do I usually need to leave some kind of a deposit for the car?
10) is there something I need to avoid having in the leasing contract (like some "scammy" clauses)?
11) is it normal to get the car to a independent mechanic, that can confirm everything is alright before you lease it?


Best regards and thanks everyone who takes their time to go through all of the above
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Old 08.05.2021, 16:39
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Re: Leasing a 6 years old used sports car

Road tax comes to mind as one more thing you have to pay. Also, that bi-yearly official check up, and I guess annual checkup/maintenance and repairs if needed. Things do die / wear out from time to time. First one is I think around 150, but second one depends on the car / garage where you do your work.

And don't underestimate the price of tires for such car.

Not sure about CO2 thingy, is that only when importing the car or how it works, I'm still trying to figure that one out myself. I think it's only when importing.

Then there's probably a wise idea to get legal insurance if you don't have one already.

I don't have much to say about many points, but I can tackle point 1 and maybe help you with mulling it over.

Car can be need or want, depending on your situation.
Another parameter for decision is what you want to do with your savings. Is there a goal or not.
Those two you know, we can't help with that.

Like, you might need it, but cannot afford this one or something.

Generally, 'wise' thing to do is investing, to secure yourself for old age.

Some folks save for buying a car, some for buying a house, some until they reach x amount on pension fund and so on.

I think it's smart to have some reason for saving, since then you can coordinate other things in your life eg you wouldn't ask us if going for a car of 1300+ monthly expense is smart or not, you'd have own metrics to see how it works for you.

So, my advice would be - get your finances in order and see what your goals are, first.
Then you'll be able to answer yourself a question 'can I afford it and do I want it under such conditions'.

I am person which is inclined to enjoying life now with having a long term goals of making a cushion for the old age. So some decisions I make aren't 'smart' nor 'rational' and definitely not frugal, but they make me happy, so they're worth to me because of that.

But every decision has a consequence, and only you can weigh what's more worth to you.

Also, we can always argue which life was led better - the one where you were happy until the end but then poor, or the one where you restricted yourself for many things so that you aren't poor at the end (but by then you probably won't be able to do some things anymore, in case you even live enough and not die prematurely). It's a philosophical question, and there's no right answer.
One thing that might help you guide you - ask yourself what you'd regret more - trying it or not trying it, for each situation in life. I try to avoid regrets I can anticipate they'd happen. Works so far. But until my deathbed I won't know if it was 'wise' strategy or not

Of course, in your situation there are some risks as you already noticed.
You said that you don't have savings, and not eligible for unemployment benefits. General 'wise' life advice is to first ensure you have savings that can cover yourself for 6 months of your expenses (all of them, including future ones).
So until you have such amount, you basically cannot afford significant expenses like car, if you follow that approach.

Another thing is to see how long it took you to get a job here in the first place and if your permit is tied to employer or not and how complicated the process of getting your permit was. Eg are you EU or non-EU (+ croatia). If that was longer than 2 months in total, I'd add that full period to those 6 months mentioned above. To be on the safe side.

Then I'd check if leasing conditions can be better if you have downpayment or not. If yes, you'd need to save for that as well.

I'd recommend making a spreadsheet and put some numbers in to see what costs you can come up with, which are monthly and which yearly and how it works.
Which parts of the car will need replacement after x years / y kms, you probably can check by user experience on forums of that car, or ask the garage what are usual recommendations and prices.

If car is need, then getting now those numbers as precisely as possible is wise.
If car is just for fun and at some moment you face some expense that's just too much for you then, then you can just leave the car in the parking spot until you save money or you can sell it/return it.
So, I'd check the conditions for stopping the leasing
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Old 08.05.2021, 18:04
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Re: Leasing a 6 years old used sports car

Blacky has given some excellent information.

I don't know how old you are, because at a very young age spending 33% on a car is something I would think about twice. RS7s looks and make you feel great, but so will be all the expenses. You will pay that AUDI "RS" premium

On the other hand if you are really a car enthusiasts, I understand its hard to stay away from a car that you really like when you have an income to afford it!

Good luck
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Old 08.05.2021, 18:20
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Re: Leasing a 6 years old used sports car

Off the top of my head:

350 CHF monthly on gas
200 CHF monthly for parking
2000 CHF yearly for insurance
1000 CHF yearly for car tax
1000 CHF yearly for tires
2000 CHF yearly for service

Obviously, in case your are replacing another car, subtract that cost.
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Old 08.05.2021, 20:34
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Re: Leasing a 6 years old used sports car

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Off the top of my head:

350 CHF monthly on gas
200 CHF monthly for parking
2000 CHF yearly for insurance
1000 CHF yearly for car tax
1000 CHF yearly for tires
2000 CHF yearly for service

Obviously, in case your are replacing another car, subtract that cost.
6,550 SFr for speeding tickets.
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Old 08.05.2021, 20:42
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Re: Leasing a 6 years old used sports car

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6,550 SFr for speeding tickets.
They come on top.

As insurance was included in your 1300 per month, let's reduce my list by 2000 CHF so that leaves 380 per month on top of the 1300. A neat 20.000 CHF for one year, before speeding fines.

Three years will have cost you 60.000 plus whatever return you could have made by investing.

After I had an expensive month with a big service and 6 expensive tires myself, I am thinking about downsizing on my cars actually. Unfortunately, I don't have a RS7 to sell you though.

Last edited by komsomolez; 08.05.2021 at 21:27.
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Old 08.05.2021, 22:26
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Re: Leasing a 6 years old used sports car

Boxster is around 500/year tax and insurance.

Tom
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Old 08.05.2021, 22:38
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Re: Leasing a 6 years old used sports car

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Boxster is around 500/year tax and insurance.

Tom
That RS7 has 600hp. I used to pay 500-600 CHF tax in ZH for a 250hp car.

OP said that insurance (with leasing needs to be Kasko I guess) was 300 per month, so a whopping 3600 a year. Again, I remember paying 1800 for Kasko on a smaller car. 2000 should be realistic.
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Old 08.05.2021, 22:40
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Re: Leasing a 6 years old used sports car

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That RS7 has 600hp. I used to pay 500-600 CHF tax in ZH for a 250hp car.

OP said that insurance (with leasing needs to be Kasko I guews) was 300 per month, so a whopping 3600 a year. Again, I remeber paying 1800 for Kasko on a smaller car. 2000 should be realistic.
If you need kasko, you shouldn't be leasing.

Tom
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Old 08.05.2021, 22:42
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Re: Leasing a 6 years old used sports car

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If you need kasko, you shouldn't be leasing.

Tom
It's the other way around. If you want to lease, usually the lessor will insist on kasko.
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Old 08.05.2021, 22:58
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Re: Leasing a 6 years old used sports car

An Audi RS 7 is fast but not a sports car.
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Old 09.05.2021, 01:26
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Re: Leasing a 6 years old used sports car

Thanks everyone for your replies! I think I will wait with a decision on this for some time for sure, but it is really good when I have some numbers I can work with.



It is really hard to resit not to YOLO into a car like this


Also, additional question, is it normal to get the car to a inspection/diagnostics before leasing it? Do you have any suggestions where to do it and for what price?
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Old 09.05.2021, 04:32
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Re: Leasing a 6 years old used sports car

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It is really hard to resit not to YOLO into a car like this
If it feels too hard to resist, then do not get it, or it will become a costly burden. YOLOing here is pricey and reckless YOLOing is quite an easy way to lose your license and to get behind bars.

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Also, additional question, is it normal to get the car to a inspection/diagnostics before leasing it? Do you have any suggestions where to do it and for what price?
It is not always possible, especially if you want an independent inspection - the dealer may deny it, especially for an exotic/rare vehicle, calling it unnecessary and reasoning it with some diagnostics card from their own/partner workshop. Usually, the dealer just insists, that everything is covered by the insurance (not true, especially if you are not driving precisely by the book).
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Old 09.05.2021, 08:19
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Re: Leasing a 6 years old used sports car

I wanted to tackle the car and insurance:


Firstly, the RS7 was not a highly regarded car, even amongst the RS cars. I recall it getting pretty bad reviews


CHF60K for one with between 60,000-80,000km seems way too high a cost (The 1st one I saw on Autoscout was CHF53K and has 46,000km. It's a lease transfer, in case you are interested)


Your insurance also seems high. I pay much less for both my cars, which are newer and more expensive.


Also, with the mileage you are looking at, assume that certain components will needs replacing at some stage. (Suspension, brakes etc)


If you really want an RS car, I would suggest a more highly regarded model like the RS4 or RS6
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Old 09.05.2021, 08:30
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Re: Leasing a 6 years old used sports car

Why would anyone lease a used car, let alone a six year old one?

Tom
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Old 09.05.2021, 10:51
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Re: Leasing a 6 years old used sports car

Imho Value of that car at year 10+ is 10% of its sticker - mostly due to expensive repairs and who wants old RS6 v10 or W12 A8 these days?

Until it be collector of old sports cars - its good only for first few years to try to impress other alfa males and some females maybe.
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Old 09.05.2021, 11:14
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Re: Leasing a 6 years old used sports car

You can actually better get an old S6 or RS6 with the spectacular V10.
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Old 09.05.2021, 11:25
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Re: Leasing a 6 years old used sports car

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So, my advice would be - get your finances in order and see what your goals are, first.
Then you'll be able to answer yourself a question 'can I afford it and do I want it under such conditions'.
This is excellent advice!

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Thanks everyone for your replies! I think I will wait with a decision on this for some time for sure, but it is really good when I have some numbers I can work with.
Wise of you.

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It is really hard to resit not to YOLO into a car like this
Maybe, instead of leasing the specific car on which you have your eye, you could, from time to time, just rent a fun experience car, and not burden your monthly budget, every month, on and on. See, for example:
https://furiouscars.ch/fahrzeuge/
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Old 09.05.2021, 11:29
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Re: Leasing a 6 years old used sports car

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Why would anyone lease a used car, let alone a six year old one?
Well yes, but IMO that also applies to new cars. There have been so many discussions about leasing on here over the years, but I've never seen any convincing argument in its favour. If leasing is the only way you can see to afford a particular cost of vehicle, then you can't afford it, period.
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Old 09.05.2021, 12:30
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Re: Leasing a 6 years old used sports car

According to the experts this might help.
https://www.adac.de/infotestrat/auto...ic+(ab+11%2f20)
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