[AndyXL]

Hi all!

I am planning on treating myself to my first ever car this year (well, I've had old hand-me-downs before from my older siblings, but they all died after a year or so)!

I have always wanted to own a convertible VW so the Eos is my dream car.

The only problem is whether I can afford it or not. I am absolutely clueless about cars, prices etc, but I should be getting a large pay rise in September to take me to about £40,000 or so. I'm a single guy so have no-one to support apart from myself although I do have pretty large debts.

My main question is, is the Eos out of my league? Would I be making a mistake in buying this as my first car?

I have my heart set on the Eos. If I go to a dealer this September, when could I expect to have the car?

Thanks for any replies.

 

[nail-z-gull]

Hi all!

I am planning on treating myself to my first ever car this year (well, I've had old hand-me-downs before from my older siblings, but they all died after a year or so)!

I have always wanted to own a convertible VW so the Eos is my dream car.

The only problem is whether I can afford it or not. I am absolutely clueless about cars, prices etc, but I should be getting a large pay rise in September to take me to about £40,000 or so. I'm a single guy so have no-one to support apart from myself although I do have pretty large debts.

My main question is, is the Eos out of my league? Would I be making a mistake in buying this as my first car?

I have my heart set on the Eos. If I go to a dealer this September, when could I expect to have the car?

Thanks for any replies.

Only you will know whether you can work your finances to get the car. Although if you already have sizeable debts you're likely to need to make sacrifices.

In September I expect you'll be able to pick up a used EOS from around £15k as they'll have been around for 2 years or more. If you're ordering from new, you can expect to pay £30k for a decent spec, and will wait 4 months or more for delivery.

It's a great car to have as a dream car. I still make excuses to go driving in mine, despite having it for 7 months. There's no other car on the road that I would swap it for.

Good luck with your dream.

 

[johnnyboyvan]

Are You Paying Cash?

If you have to finance your EOS then I would say wait till it goes down in price at certain times of the year (I am thinking Winter). I too am single and make a very nice income, but I decided I would only purchase the car if I can pay cash and not require financing for it.
I must tell you that I have no regrets whatsoever of purchasing this amazing car...be prepared for lots of stares and questions. Here in Canada the price was steep at about $47000 Canadian but I managed to do it...and now all I can say is buy it.
Cheers from the most livable city in the world: Vancouver.

 

[AndyXL]

Thanks for your replies guys.

I'm not too bothered about specs and would probably get a lower spec model (are these still good - what is the absolute minimum I should buy)?

I would have to take out a bank loan to finance the car and would probably end up paying £380 a month or so towards it for 7 years.

The absolute earliest I can get one is September so maybe they'll be cheaper then. I'll have a look at the second hand market too but I would rather a new one.

I've just ordered a brochure from VW and will start doing research on what specs I should get. To tell you the truth though, engine power or features isn't high on my priority list!

 

[nail-z-gull]

Ouch! 7 years.

Many banks will not offer car loans for longer than 5 years. Maybe you should look into leasing?


Just did a quick search and an entry level EOS is available from around £300/month.

 

[AndyXL]

Ouch! 7 years.

Many banks will not offer car loans for longer than 5 years. Maybe you should look into leasing?


Just did a quick search and an entry level EOS is available from around £300/month.

Good point, maybe I should consider a hire purchase agreement or something.

Could you point me to the place where you did some research on this?

Thanks!

Edit. I've been thinking more and more that I should go for a more sensible car which is a bit cheaper, such as a Golf or Polo...but then the other side of me dreams of a cabriolet and jumping into the car over the doors, cruising around in the summer time with a nice girl by my side!

 

[bugger]

I've been thinking more and more that I should go for a more sensible car which is a bit cheaper, such as a Golf or Polo...but then the other side of me dreams of a cabriolet and jumping into the car over the doors, cruising around in the summer time with a nice girl by my side!

i feel your pain. i just had to sell my little sports car. now im stuck with a truck that needs some work done to the drivetrain, and a vw that does 'go' yet.

 

[nail-z-gull]

Good point, maybe I should consider a hire purchase agreement or something.

Could you point me to the place where you did some research on this?

Thanks!

Edit. I've been thinking more and more that I should go for a more sensible car which is a bit cheaper, such as a Golf or Polo...but then the other side of me dreams of a cabriolet and jumping into the car over the doors, cruising around in the summer time with a nice girl by my side!

Just search for 'vehicle leasing' and they'll be a few to choose from. I did a quick search on http://www.contracthireandleasing.com and came up with the new 1.4 EOS for £280/month (although you need to add VAT).

Whatever you do I'd consider leasing, especially if you don't have a large amount of cash up front.

 

[johnnyboyvan]

Another Comment

Hey btw according to Kelly's Blue Book reviews of depreciation, the VW Eos will have an excellent value retention over 5 years; consequently, buying an Eos is actually a good investment. Let the VW Eos be your car and not simply a dream. Cheers from Vancouver, BC, Canada: Home of the 2010 Winter Olympics.

 

[AndyXL]

Hey btw according to Kelly's Blue Book reviews of depreciation, the VW Eos will have an excellent value retention over 5 years; consequently, buying an Eos is actually a good investment. Let the VW Eos be your car and not simply a dream. Cheers from Vancouver, BC, Canada: Home of the 2010 Winter Olympics.

Thanks. That's great news that the car won't tumble in value the moment it leaves the garage.

I'm still debating with myself. Depending on my job / salary later this year, I may just be able to manage it!!

I need something to look forward too. It's so dull, grey and wet over here in England at the moment!

 

[dannydutton]

I don't think a Polo is going to be a "chick" puller, do you?. My priority was to get a convertible, if I didn't get the Eos I would have bought a Golf GTI. I found that the GTI is a fantastic car to drive. The GTI's are cheaper than the Eos in Oz. Is that the case in the UK? But you only live once and the biggest regrets in life aren't the things we did, but the things we didn't do.

 

[Stephb]

Hi have you thought of having it on options which means you lease it for 3 years and at the end of it you can either buy the car or you can change it for something else that you like instead and have the money that you paid off that one on the new car instead

To be honest the eos hasn't depreciated in winter as i ordered mine in november and it still cost me 26k i think the hard top convertibles hold the market in winter unlike soft tops

Stepb x

 

[anna_r]

Personally, I wouldn't touch a spec lower than a 2.0L engine.
Mine was in the region of 23k with the extras, and I had a 10k loan to help buy it. Payments on that over 3 years are around 350 a month. Wouldn't take a loan out for any longer than that, as I wont keep the car much longer.

Check out the finance deals at the garage, sometimes these aren't bad. Odd places like M&S do pcp deals for cars, and they're not too bad either.

But, and I must sound like a granny in a 31yr olds body, if you are going to have to financially stretch yourself to the limits and you have big debts to pay off, I would consider going for an alternative car for the time being - the golf being a great first car - and none of the girls I know would think they were slumming it in one if you turned up for a date in it! The other thing that might be the killer is the insurance, especially if its your first car - wouldn't dream of having the car without it being fully comp, mine is around 450 with a 10yrs no claim! Not forgetting the petrol - around 50 quid to fill it - give or take a few quid, and get around 350 miles out of it.
As miserable as it sounds, I would be inclined to try and clear some of your debts first, and then get the car - jeez i sound old!

But, the car is fab, and has been a godsend to me managing a very stressful year, and I love it to pieces and am incredibly overprotective of it!

 

[AndyXL]

Personally, I wouldn't touch a spec lower than a 2.0L engine.
Mine was in the region of 23k with the extras, and I had a 10k loan to help buy it. Payments on that over 3 years are around 350 a month. Wouldn't take a loan out for any longer than that, as I wont keep the car much longer.

Check out the finance deals at the garage, sometimes these aren't bad. Odd places like M&S do pcp deals for cars, and they're not too bad either.

But, and I must sound like a granny in a 31yr olds body, if you are going to have to financially stretch yourself to the limits and you have big debts to pay off, I would consider going for an alternative car for the time being - the golf being a great first car - and none of the girls I know would think they were slumming it in one if you turned up for a date in it! The other thing that might be the killer is the insurance, especially if its your first car - wouldn't dream of having the car without it being fully comp, mine is around 450 with a 10yrs no claim! Not forgetting the petrol - around 50 quid to fill it - give or take a few quid, and get around 350 miles out of it.
As miserable as it sounds, I would be inclined to try and clear some of your debts first, and then get the car - jeez i sound old!

But, the car is fab, and has been a godsend to me managing a very stressful year, and I love it to pieces and am incredibly overprotective of it!

Thanks for your advice, and that of the other posters above.

I don't think I'll get one this year. My finances could probably just about manage it, but it would be more of a toy than a necessity. I might just get a regular Golf for the time being.

I would still love the Eos though. The thing is, I live in England and a cabriolet isn't as necessary as in some hotter climes!

Saying that, I qualify in my job this year and it would be a great treat for myself.

Ahhh...I don't know what to do!

 

[cb391]

I don't know what you are currently driving or what conditiopn it is in. I would suggest if possible you keep driving that car and avoid buying another car in the mean time. If you can afford to put any money away I would do that. Buying a car on a short time frame might end up in a negative equity situation if you trade it on the Eos. You say you wouldn't be ready to buy your Eos until September. Give yourself one year to get your job and finances firmed up and then go Eos hunting. You will have a lot of time to decide what options you want and what you need and what you can live with.