Question about a finance deal on an S3....

[cW6mT mKviGLi]

Hello and good day fellow enthusiasts, I'm looking into picking up an S3 for my wife soon and my question is in regards to the finance deals for the Audi of Summer sales event.

I'm getting a really good deal on a 2016 S3, Mythos Black, Black Optics pack., Tech pack., Bang & Olufsen, LED lighting package, homelink, red calipers and wheel locks.

In order to use the rebates for Audi of Summer and Loyalty, i have to finance through Audi Financial Services (financing through AFS also has a rebate incentive).

Since Audi's rates on a 72 month loan are about 3.9% and there are no pre-payment penalties, how soon would i be able to refinance with my local bank or credit union and use their 1.9% for 72 months? Is there a certain window in which it could raise a flag and cause suspicions? Also, i'm going to call and ask, "if i were to wait about 6 months and then refinance if the rate would be considered for a new car or used car?", what do you ladies/gents think?

Thank you for your time,

Devin

[Thudux]

IN my experience and opinion you can refinance the next day if the bank approves of it although I do not recommend going this route. It is better to leave loan active for at least a year build up the credit than go ahead and refinance with whomever. Just my 2cents

[cW6mT mKviGLi]

Thank you for taking the time to reply Thudux. I'll probably wait any

[cW6mT mKviGLi]

Disregard the previous post, i clicked the "post reply" before i finished. What i meant to say was, thank you for the reply Thudux, I'll be waiting about 6 months to a year and then going the refi route. Can't wait, we should be picking up the car next weekend!

[Thudux]

Lol no worries and awesome! Post up some pics when you have it

[cW6mT mKviGLi]

Picked her up yesterday..... Truly a fun to drive car.

[Thudux]

Damn it looks sick!!

[15S3]

I ran into this when I bought my 2015 S3. I got to the finance guy, after the deal had been inked, and he tells me I have to use Audi financing to get the rebate. I was not happy and he said I was required to stay with the Audi financing for 2 payments/months then I was free to switch to other financing. So that's what I did and my credit union paid off the balance to Audi and gave me the new car rate, I think it was 1.9%. Don't know if my credit score took a hit or not but I'm not really worried, I'm 55, lol.

[14S4GWM]

72 months, really? Nice ride though!

[Thudux]

I ran into this when I bought my 2015 S3. I got to the finance guy, after the deal had been inked, and he tells me I have to use Audi financing to get the rebate. I was not happy and he said I was required to stay with the Audi financing for 2 payments/months then I was free to switch to other financing. So that's what I did and my credit union paid off the balance to Audi and gave me the new car rate, I think it was 1.9%. Don't know if my credit score took a hit or not but I'm not really worried, I'm 55, lol.

AMEN! thats pretty badass.... post more pics

[cW6mT mKviGLi]

Thanks for the compliments everyone. My wife now brags that her car is sexier than mine. It's a great car with my only complaint being the seating position. I'm 6'1 (which I don't think is super tall) and with the seat set to the lowest level setting I still find my head too close to the ceiling. I wish I can have those seats with my S4 seating position.

As for the 72 months, we always take a longer term and sometimes pay extra which advances the payoff date some. The reason for the longer term is, we're always obligated to pay a lower monthly payment versus a 36 month, 48 month, etc., god forbid of any unforeseen financial hardships that may come up.

Also, the difference in payments is worth a bit more now as my wife uses the difference with her investments to have the extra money, make money. She's really good with that stuff, given her finance analyst background.

"15S3" I've had this happen to me many times in the past. That's why now, when rebates are available I always ask them to disclose on if we need to take an extended warranty, buy road hazard wheel protection, finance with a certain bank or certain term duration, etc. It sucks when everything is all worked out and your comfy with the numbers and then you're surprised afterwards. When we negotiated the S3, we negotiated a price that would then be an additional $1750 rebate for summer of audi ($1250 for Acquisition and $500 Loyalty rebates). So it was a percentage off MSRP plus the rebate which came out to the best deal I've ever gotten on any car.

[QwaktastiK]

Small world. You beat me and my wife to the purchase of that exact car at Audi of Reading. Dana was able to bring in pretty much the same car within the following week for us from a dealership in Lancaster (Audi of Mechanicsburg). Absolutely fantastic buying experience. Everyone at the dealership was beyond friendly. Best dealership experience I've had to date as well. Well worth the drive for us from Philly and I'm sure for you as well coming from New York with how deep they were discounting off MSRP. Congrats on the new purchase.

[cW6mT mKviGLi]

Small world. You beat me and my wife to the purchase of that exact car at Audi of Reading. Dana was able to bring in pretty much the same car within the following week for us from a dealership in Lancaster (Audi of Mechanicsburg). Absolutely fantastic buying experience. Everyone at the dealership was beyond friendly. Best dealership experience I've had to date as well. Well worth the drive for us from Philly and I'm sure for you as well coming from New York with how deep they were discounting off MSRP. Congrats on the new purchase.

I agree, small world indeed! Thank you for the congrats and I'm glad you were able to find another vehicle. The discount is definitely the icing on the cake. What color combination did you guys end up going with and options? Also, best of luck to you and your wife with your S3!

[QwaktastiK]

I agree, small world indeed! Thank you for the congrats and I'm glad you were able to find another vehicle. The discount is definitely the icing on the cake. What color combination did you guys end up going with and options? Also, best of luck to you and your wife with your S3!

It's like almost an identical car. 2016 Audi S3 Premium Plus, Mythos Black Metallic, Black Optics Package, Technology Package, LED Lighting Package, Bang & Olufsen Sound System, Homelink, Red Brake Calipers, Resonator Delete Pipe. Things the car didn't come with that we wanted were the cargo hooks and the S3 embroidered floor mats. We'll likely add those shortly.

[BillT]

How do you like the sound of the car with the Resonator Delete option?

[QwaktastiK]

How do you like the sound of the car with the Resonator Delete option?

Love it. I'm used to my WRX which has headerback exhaust. I wouldn't say the Resonator Delete pipe option is loud, since that's a relative thing, but it's definitely a much more noticeable exhaust note than the one we test drove without it. Will certainly hold us over on an aftermarket exhaust for quite a while. And it retains the flapper valve (not sure what the Audi community calls that).

[P230james]

Glad I read this thread. I'm planning to refinance to a lower rate, after I make about 6 months of payments to Audi financing.

[BillT]

Glad I read this thread. I'm planning to refinance to a lower rate, after I make about 6 months of payments to Audi financing.

I suggest you do it soon before rates start to rise. I would not worry about waiting 6 months. Audi can not stop you from refinancing at any point in time unless there is some type of pre-payment penalty on your loan agreement, which I doubt.

[BillT]

Thanks, QwaktastiK. I am picking mine up today without the resonator. Drove it last night, and I agree it is subtle. Sounds more like a German DTM car (just kidding)!

[P230james]

Thanks BillT for the advice regarding 6 months, I can't be sure when the car loan rates will shift up. It's 1.79% right now at my credit union (NFCU).

The language in my recently signed installment sale contract for 2.9% with Audi has no prepayment penalty listed. On Friday, when I signed all this sale paperwork, the Audi finance guy said to wait 6 months to make sure I still get the rebate. Okay, I said. But now that I'm at home, I can't find in the sale paperwork anything about a 6 month requirement for a rebate. I think my Audi dealer is great, but the 6 month verbal statement from him may be just a suggestion, that's just my thoughts.

[tedfy]

Wonderful ride though!

[BillT]

Didn't you use the rebate as part of your down payment? That is how my deal was structured and I did not even think to do it differently.

[P230james]

Didn't you use the rebate as part of your down payment? That is how my deal was structured and I did not even think to do it differently.

Yes, my rebate of $1,250 was in the downpayment. The more I think about it the more that the 6 months is only a suggestion - and not binding in any way. When I refinance in a few months I will know if my credit score takes a hit for holding the Audi loan such a short time.