Interested in a B7 and need help

[UltimateXZ]

Im hurting on cash and should have $8000 around August 09' toward the purchase of an Audi (Thats without the $5000 help from my parents in the worst case scenario because of my dad taking a hit in the stock market) . I was wondering if you guys could give me almost sort of some insight/pricing estimates/advice... I was thinking of obviously financing with a co-signer. Im interested in the 2005 B7 and I was looking at Black/White/Silver with a Black interior, Quattro Tiptronic AWD, and finally ALL 4 heated seats (Cold Weather package). Im in the NJ area, nearly off Rt 22. Any and all advice and help would be greatly appreciated. And yeah I'm new here, but honestly, I've lurked for a couple months Thing is, you guys inspire me, and I love the B7!

Thanks again guys, -James

[Quattro]

really quick: with 8+5 = 13k, I doubt you will get a b7 for that price...but if you will finance the rest than you should be fine.

2005.5 is when the b7 starts, so make sure its 05.5 and up. For what you are looking for you might be able to get one in the 20s. Quattro (me) is more expensive and heated front seats come with Quattro for an 06 2.0t (I have them). Shop on craigslist, auto trader to better find what you want. Since the market is low, you might be lucky to get one for cheap, but its always hard to find what you want 100%, so start searching now and set a limit.

good luck!

[Jersey Stephen]

were do you live off of rt22

[UltimateXZ]

Ive seen 05.5 with all heated seats (cold weather package), quattro tiptronic. and the thing is, I know the markets low, but the time of purchase will be August. So what do you think I'd be looking at price-wise at the time of purchase? Oh and Im at the edge of Watchung, in Berkeley Heights.

[fromGMCtoAUDI]

Advice: save up some cash and 10 months from now when you're ready to lease ask again.

[UltimateXZ]

That IS some honest advice, but I was still kinda looking to raise my spirits about it, I mean, I gotta work eight more months without touching bankroll just to be able to finance it

[EvanF]

That IS some honest advice, but I was still kinda looking to raise my spirits about it, I mean, I gotta work eight more months without touching bankroll just to be able to finance it

Honestly it sounds like you would be better off with a used civic then. Any financial adviser would agree, an Audi is out of your league. Please reconsider.

[UltimateXZ]

LOL, its funny you should say that because I am infact driving a lightly modded 97' civic. But, yeah ouch man. You really think its too big a reach, even with financing and all? I was thinking dropping 8 and paying the rest off over 60 months, I mean I DO have a cosign from my dad who has good credit. Plus theres a chance that I can get the "help funds", I mean considering itll be 20k or less, the odds dont look THAT bad, do they?

[aspw]

Honestly it sounds like you would be better off with a used civic then. Any financial adviser would agree, an Audi is out of your league. Please reconsider.

Also, the cost of owning an Audi isn't cheap either, maintenance, oil change, etc will be more expensive than the Civic. Unless you're a DIYer. But still...

[EvanF]

LOL, its funny you should say that because I am infact driving a lightly modded 97' civic. But, yeah ouch man. You really think its too big a reach, even with financing and all? I was thinking dropping 8 and paying the rest off over 60 months, I mean I DO have a cosign from my dad who has good credit. Plus theres a chance that I can get the "help funds", I mean considering itll be 20k or less, the odds dont look THAT bad, do they?

No matter how you rationalize it, buying the A4 is horrible financial decision. Stop trying to live outside your means. Want to know why the global economy is so horrible right now? Same reason you're trying to buy this A4 you can't afford.

Going in to debt for a car when you already have a viable option is something only an ignoramus would bring upon themselves. You have the rest of your life to drive nice cars, don't make such an egregious mistake.

[Bart-Man]

All these negative nancy's.

Buy the car your want. Enjoy it while you are young.

Who knows how long you will live, and its only money.

You can always claim bankruptcy like all the banks did.

[EvanF]

All these negative nancy's.

Buy the car your want. Enjoy it while you are young.

Who knows how long you will live, and its only money.

You can always claim bankruptcy like all the banks did.

Yes, you can ruin your credit and any chance to get ahead in life for a car. Go for that and don't save your money. My bad, I shouldn't be so negative.

[Bear Creek Zeke]

Don't give up hope Ultimate. This is still America. If you work hard and are smart about it, you can achieve your dreams.

One of the main reasons I purchased my B7 was fuel economy. If you buy a low-mileage B7, you will probably still have some warranty left over. I would look for a private resale on cars.com or one of the other sites. I bought an 07 A4 Quattro with 14k Miles, 6MT, S-line, Titanium loaded with everything but nav system for $25K earlier this year. There are deals out there and you will find one, if you put your mind to it. Used car prices are dropping. This is a good to buy a car if you can get the financing. Good luck to you.

[UltimateXZ]

Thanks Bear, sounds good to me. 25k for an 07'? How much could I run an 05.5 for? Im guessing around 16-20 for what I want (listed above) by August. Appreciate the input guys.

[dubfreak75]

If you want a rough estimate you can check out www.kbb.com. I bought my 06 2.0T Q-tip with premium, technology, and cold weather packages and 13k miles a year ago and only paid 24k through private party.

[dave405nyc]

get the car u want man, if you are putting down 13k and financing the rest for 5 years, monthly payments will only be a few hundred bucks a month (assuming the car is 22k). if u can afford the monthly payment, go for it!

[elwigglero]

Have you looked at a b5 or b6? I doubt you're going to find a b7 for under $20k, and if you do, it's going to have high mileage and most likely, no warranty. Make sure you can budget a couple grand per year for repairs, as these cars are damn expensive without a warranty.

I'm with EvanF...People that live beyond their means always struggle because they're constantly in debt. That's a stressful way to live. You can always wait a couple of years until you can legitimately afford to buy a luxury car.

[p1nk50ck]

i'm all for getting a new car, hell, i purchased 3 cars within the past year. but i would say that you should truly look into what you can afford if you want this car. it will ultimately depend on what your monthly expenses are, compared to your monthly income.

you should be able to pay off all of your bills, car payments, student loans (if you have them), rent, "fun" money, and still have enough left over to put towards investments or short term savings. believe me. "fun money" is the most important. what good is a cool car, if you can't go out with your friends and enjoy it (or mod it).

if you don't have this, then don't buy the car. it's not worth it to be miserable financially. don't finance the car for 5+ years, because you're going to want another car in 3-4 years. and by then, the b7 won't be worth much. and trust me, if you're going to stretch to get the car now, you'll definitely stretch to get another car later, and it'll be a vicious cycle.

i'd love to say "hey, f-it, what do you have to lose?" but then i'd feel like a total jackass if you post here in 6 months trying to sell the car (you worked so hard for) because you lost your job. what's the hurry? you seem pretty young. how will you benefit by having the car now, rather than 6 months from now? if you say nothing, then take the money you save, put it into an ING account, it'll be safe there. if you're still are dying to have the car in 6 months to a year, then get it. you'll be a little bit more financially sound, and if you're really serious, you'd have quite a bit of money for a down payment. win-win situation.

then again, you're probably young, and you're going to want to do whatever you want anyways, and not take the advice of older people. (i never did)

[EvanF]

Have you looked at a b5 or b6? I doubt you're going to find a b7 for under $20k, and if you do, it's going to have high mileage and most likely, no warranty. Make sure you can budget a couple grand per year for repairs, as these cars are damn expensive without a warranty.

I'm with EvanF...People that live beyond their means always struggle because they're constantly in debt. That's a stressful way to live. You can always wait a couple of years until you can legitimately afford to buy a luxury car.

i'm all for getting a new car, hell, i purchased 3 cars within the past year. but i would say that you should truly look into what you can afford if you want this car. it will ultimately depend on what your monthly expenses are, compared to your monthly income.

you should be able to pay off all of your bills, car payments, student loans (if you have them), rent, "fun" money, and still have enough left over to put towards investments or short term savings. believe me. "fun money" is the most important. what good is a cool car, if you can't go out with your friends and enjoy it (or mod it).

if you don't have this, then don't buy the car. it's not worth it to be miserable financially. don't finance the car for 5+ years, because you're going to want another car in 3-4 years. and by then, the b7 won't be worth much. and trust me, if you're going to stretch to get the car now, you'll definitely stretch to get another car later, and it'll be a vicious cycle.

i'd love to say "hey, f-it, what do you have to lose?" but then i'd feel like a total jackass if you post here in 6 months trying to sell the car (you worked so hard for) because you lost your job. what's the hurry? you seem pretty young. how will you benefit by having the car now, rather than 6 months from now? if you say nothing, then take the money you save, put it into an ING account, it'll be safe there. if you're still are dying to have the car in 6 months to a year, then get it. you'll be a little bit more financially sound, and if you're really serious, you'd have quite a bit of money for a down payment. win-win situation.

then again, you're probably young, and you're going to want to do whatever you want anyways, and not take the advice of older people. (i never did)

Listen to these wise men. We're trying to help you avoid a costly mistake.

Look here: http://money.cnn.com/2003/11/13/pf/a...much/index.htm

"The average consumer pays 11 percent of her monthly gross income on a car payment. Certified financial planner Chris Cooper thinks that's too high for most people. As a rule of thumb, he doesn't think it's prudent to pay more than 8 percent of your monthly gross income on a car payment. Less if you have other debt.

So if you make $5,000 monthly -- that's $60,000 a year -- your car payment shouldn't exceed $400. If you have a $100 credit-card or student-loan payment every month, then your car payment shouldn't exceed $300. "

You probably don't make anywhere near $60k a year. Probably more like $10k a year, right? You're going to put 100% of your monthly income in to a car, insurance, gas, maintenance, repairs, and probably mods. Does that make any sense whatsoever? You won't have any money left over and you're setting yourself up for a grave mistake.

[NothingBUTasian]

I got my b7...2005.5 fully loaded, votex kit, cold weather, convenience package, sport suspension....for 18,500....that was also with apr93 chip, 18' oz ultraleggras, carbonio, ecode tp, and apr exhaust....I financed the whole thing....only thing was that it was high miles....73k....highway driven...I have this car and a 93, nissan nx2000...I drive to the airport on monday and then drive back on thursday...I have sat and sunday to drive one of the two cars...I'm pretty handy with cars and have already replaced and fixed a few things on the car myself...I'm loving it....and you will too...keep searching the net and your car will present yourself. If it was ment to be, you'll find your car like I did.

[elwigglero]

I financed the whole thing....only thing was that it was high miles....73k

I definitely don't want to offend you, but why would you finance a car with 73k miles on it? Especially a highly modded and most likely abused car. When you want to eventually sell the car in a couple of years, you'll prob still owe money on the loan and will end up underwater. Then, instead of upgrading to a newer/better/faster car, you'll have to settle for something you might not enjoy as much.

As P1nk50ck said, living beyond your means is a vicious cycle that will definitely screw you in the long run. It's the reason the housing market is the way it is. People lock themselves into an Adjustable rate mortgage that they can just barely afford. Then the interest rate changes... bye bye house.

To the OP...Start small and work your way up. I went from a VW Corrado to a B5 Audi to a B7. The corrado was relatively cheap and I learned how to wrench on it a bit. You can do the same with an older Audi that you could purchase outright.

or...

Do what you like and buy the car. You're always welcome here.

[NothingBUTasian]

I don't have any plans on selling my car...I grow un-natural attachements to my vehicles and don't ever want to part with them. I had a honda prelude and would of still had that instead, but it got into an accident. I checked the car out in detail and even had it inspected thouroughly by a shop. The guy who had it before took excellent care of the car and it looks brand new. I'm not offended by anymeans, it might not make sense to others, but it makes sense to me and that's what matters.

[p1nk50ck]

also, i just read your first post again. come to think of it, you probably shouldn't be buying this car, and if you were a "good child", you should be doing your dad a favor by not taking his money.

i know that the stock markets aren't doing so hot right now, but is your dad taking $5000 out of a failing investment instead of giving it time to turn around, or reinvesting it into something a little more safe? on top of that is he putting that money into a "non-necessary" purchase that is almost guaranteed to lose about 50% of its value in the span of 4-5 years?

it seems like your dad has some investment problems. perhaps you guys should hire a financial adviser instead of buying cars.

[vivithemage]

I got an 05.5 dolphin gray, 6 speed, quattro, 2.0T for 20k OUT THE DOOR at a dealership with the extended warranty they offered on it, car only had 30k on it too...so it's got factory maint. still 'paid'.

I just got the 35k done for free, 45k will be free as well. And they gave me 3 coupons for FREE oil changes at the dealership.

and 2.9% on the amount I had to finance ^_^

it seems like your dad has some investment problems. perhaps you guys should hire a financial adviser instead of buying cars.

The market is crapping out AT THE MOMENT...hard to make money RIGHT NOW.

IMO, it's a perfect time to buy, if you buy correctly.

[p1nk50ck]

The market is crapping out AT THE MOMENT...hard to make money RIGHT NOW.

IMO, it's a perfect time to buy, if you buy correctly.

right time to buy? how do you know when it's going to bottom out? do you have some magic crystal ball that tells the financial future, and the "correct" things to buy?

[fromGMCtoAUDI]

lol I know ppl that bought stocks during the elections when the whole bailout thing was happening. They thought it was the right time to buy since the market was so low. Now they lost 8% on their smart investments.

[vivithemage]

right time to buy? how do you know when it's going to bottom out? do you have some magic crystal ball that tells the financial future, and the "correct" things to buy?

sure it can go down further, but it can top out back to normal in a few years.

[audi_girl]

If you can, buy out of state. Lots of places will give good deals on a quattro (like FL, TX, etc) since AWD isn't needed in those states. Good luck and make sure you buy from a reputable person/dealer

[Auditude2.0T]

check out my car on the classifieds

[brownishwater]

Ive never really seen this mentioned on this site, but I got my 06 B7 Tip Quattro from a place called Donohoo Auto in Alabama. I live in Texas, but they shipped it to me for $300. They have litterally hundreds of Audi's, A4's, A6's and A8's, all body styles. I did like 9 months of research to find the best deal on my B7 and Donohoo had by far the best deals, best financing options, service, everything that I could want.

Just letting you know. Look them up...DonohooAuto.com

[eMacPaul]

Check out car prices on various sites... kbb.com, carmax.com, etc. Then subtract how much you can afford to put down, and see how much the monthly payments will be: http://www.bankrate.com/brm/auto-loan-calculator.asp. If based on your current income you can pay that and still save, go for it.

If you can't afford it, either buy some cheap car, or just wait until you can.

Incidentally, I'm paying about 14% of my pre-tax income for the car loan, but I don't have any student loans or credit card debt to worry about.

[HPW]

I think a lot of people have made good points on this thread. I'd agree with the idea of not over-reaching...

In Aug 09, you should be able to easily find a 05.5 B7 for sub-$20k, especially as lightly equipped as the one you want. Granted, miles might be high... and prices will be even better if it were a private sale. Going through a dealership usually will net you a better rate (private party borrowing can be as high as 9-10% or more) and they're the only ones that offer a CPO warranty.

However, let me leave you with this... In Aug 09, your 05.5 B7 will be 4 years old. Financing it for 60 months will mean you're paying this car off when it's 9 years old, in Aug 2014, maybe when the B9s are already here?

It's probably a good idea to consider what some of the other members have said here and at least think in terms of how much of a payment you can afford. If you come up with $13k (8+5) and find a car for maybe $17-18k, you REALLY shouldn't need to finance it over 60mos. If you do, you probably can't afford it. Don't forget you'll need money for insurance, maintenance and maybe food.

[B7A4Sport]

I think unless you find a miracle deal, I would have to agree w/ the people that are saying this car is a bit too much for you. The last thing you want is debt at such a young age, mainly because of the extreme lack of options you have to fix any problems that may arise. I wanted SO badly to get an Audi when I was in college, but realized it was going to be a horrible decision. I made up my mind to wait until I was graduated and found a good, salary-based reliable job. Now that I've found such a job, I was able to comfortably get into a 2006 A4 2.0T Quattro tip w/ 21k miles on it and enjoy the car. I put $10,000 down ona $26k tag (I bought Certified Pre-Owned) with help from my parents, just as you discuss doing, and got a pretty decent rate of 4% on a 60 month loan. I'm making roughly $280 payments a month, and am stuck in that loan for the next 5 years. When/if you get this car, it won't be totally pleasurable experience; you'll be constantly stressed and worried about how to make the next payment, not to mention insurance is pretty expensive on this car.

Basically, you sound like you're a little too young and definitely not financially established enough to take on this car. I know exactly how it is when you're young; you wanna have the same stuff as people you see who seem merely a few years older than you. The problem with that, is there's a lot of experiences theyve been thru in those short years that result in their higher ability to obtain such luxuries. I'd listen to the people who say this is too risky, as much as I'd hate saying that to someone who sounds just like I did.

My advice to you is wait until you graduate college (since it sounds like you're most likely bound for higher education), and make this move when you can truly enjoy and appreciate the first experience of buying/owning your own car.

I hope in the end, you make the best decision for yourself!

[fromGMCtoAUDI]

lol funny you guys say that. I was in the same situation when I was in college I really wanted a B6 A4. Of course at that time my parents would have paid for it because I wasn't making any dough. After a few failed attempts at convincing them I forgot about it. Now that I've graduated and worked a couple years I purchased a new B7 and believes me it feels great when you buy new with your own money, CASH.

[UltimateXZ]

It looks like I can put away $100 a month and still have my "fun money". After payments and an estimate of 5 tanks of 93 a month, just to take worst case scenario into account? Does it look like a good idea? And I really appreciate the advice guys, Im 18, and I have carefully read and taken into account what you guys have said. Ive learned alot here at the zine!

[bloodstar57]

It looks like I can put away $100 a month and still have my "fun money". After payments and an estimate of 5 tanks of 93 a month, just to take worst case scenario into account? Does it look like a good idea? And I really appreciate the advice guys, Im 18, and I have carefully read and taken into account what you guys have said. Ive learned alot here at the zine!

Hey How old are you and around how much are you making a year. Please be honest we are really trying to help.

[UltimateXZ]

Im 18, and I make 13k a year with tax taken out already....otherwise its 15k a year. I don't have to pay insurance for 6 years...at the same time Im only responsible for my portion of paying for the car as well as gas and maintanence. My dad's got the rest. He wants me to be independent, but continues to support me to a certain extent. The thing is, that money that he's inputting is my graduation present for doing well in school and all that.

[bloodstar57]

Im 18, and I make 13k a year with tax taken out already....otherwise its 15k a year. I don't have to pay insurance for 6 years...at the same time Im only responsible for my portion of paying for the car as well as gas and maintanence. My dad's got the rest. He wants me to be independent, but continues to support me to a certain extent. The thing is, that money that he's inputting is my graduation present for doing well in school and all that.

Seeing as how you Dad will help it's hard to make a call but i will. With 13k a year you should not and being 18 and about to go to college soon you should not. Only under the following condition should you get this car: If your dad pays the payments completely and insurance and makes it a gift/ transportation to school and work. Just understand 2005.5 will only have 2 year cpo and thats 80 dollars everytime you visit the shop; parts for this car are not cheap. However with the condition that you give i will have to say no and wait. I know it sucks(i've been there too at your age) but it will be better if you wait. Stick with the civic i wish i had a civic when i was 18.

[TurbousMaximus]

I think what most people seem to be overlooking is the fact that you want the car next Aug. A lot can change between now and then. I already see 05.5's going for sub 20k's and it will drop significantly when the b8's are more prevalent. Just keep saving money and you should be alright, by then you might not even want one. Trust me, there is always good deals to have if your patient.

[nendo]

What is wrong with your civic? I'm sure its not a chick magnet but keeping it for just a little while longer will be your best bet. Don't get in debt you can't afford it's hell to get out of. I know because of a 1992 camaro I just couldnt live with out. Listen to the old men just once. just my 2 cents.