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Financing a Cupra 300 SC

Discussion in 'Leon Mk3 (2012-2020)' started by cupra300uk, Jul 20, 2018.

  1. cupra300uk

    cupra300uk Active Member

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    Hey guys not sure if this is in the right place again but I’m thinking of financing a Leon Cupra 300 SC. I’m 21 with two years of no claims bonus and I know I’m still young and should probably wait before I buy into a 4 year plan but I feel like I should just stop thinking of the negatives. I’ve looked at the insurance and with my current two years No claims bonus it will cost me about £1100 per year which isn’t bad at all I don’t think. I have a full time job earning about £350 p/w and I can financially support my decision, so I’m basically just wondering who else has one and what they’re like to run every day and if they are worth the upgrade from my current 2015 Ibiza FR. Let me know your thoughts! Cheers in advance


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  2. BenHarris3

    BenHarris3 Active Member

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    I’m 23 and was in a similar position 2 years ago and I decided not to do what you’re suggesting and opted for an FR 184 instead, I’m now reaching the end of that lease with close to 4 years no claims and being in a better personal financial situation though I’m considering moving away from Seat but that’s a story for another day.

    I think ultimately you have to look at your situation and decide if you think it’s sensible, personally I don’t think spending over 1/4 of your monthly income - finance, tax, insurance, petrol is a wise choice and speaking like a parent I’d get something more affordable and save the difference for general ‘life’, 4 years is a long time to be spending that much money on a car and would you regret doing so when you need money for something else down the line? That said, if you have your mind set on it then it’s not for anyone here to tell you otherwise.

    For me it came down to wanting the money for a life beyond a nice car, moving out, girlfriend, social life etc.
     
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  3. cupra300uk

    cupra300uk Active Member

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    How have you found the FR? I suppose I could be tempted by the 1.8 TSI but would have to find a very good deal I think. I think I know that deep down it probably isn’t the right thing to do, but I’ve had my heart set on a cupra (albeit originally an Ibiza cupra) for years now! How have you found the lease by the way? And can I ask why you would move away from SEAT?

    I try and do as much as I can annually such as tax and insurance, obviously the fuel and the lease will be monthly so that is a good point. I suppose I might end up needing that extra money at some point however I guess I will never know until that day comes!

    Appreciate the reply mate!


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  4. BenHarris3

    BenHarris3 Active Member

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    I love it, I think it’s an amazing engine and I do a lot of miles so the economy from the diesel is beneficial for me, the FR trim is no different really to that of the cupra so for me it was a case of, do I need 290(at the time) PS for the additional costs incurred elsewhere - tax etc and the answer to that was ultimately no.

    I guess it also comes down to the miles you’ll put on it, petrol adds up and I wouldn’t underestimate the lack of fuel economy you’d get from it if you were doing say 10k + miles a year.

    I’m moving away from Seat because I want a petrol car next, I don’t want to side step to a petrol FR and want something with a bit more poke but not a huge reduction in economy to the silly numbers of the Cupra, S3, R etc. I do 54 miles a day to work and back so need something somewhat sensible, I’m also keen to stick with manual gearbox so currently leaning towards a Golf GTI, it’s purely an engine and gearbox move rather than any issue with Seat or my current car. I’ve done 26000 miles since November ‘16 and have had 0 issues with it.

    Ultimately you have to ask yourself what happens in the next 4 years, being the age that we are I think the answer to that is a lot, I’m sure your social media feeds are similar to mine and everyone around you is getting houses and popping kids out and while that may not be a here and now thing it’s certainly something to consider and where the money for that would come from.

    Leasing has thus far been without a hitch, no problems with delivery or payments, replaced 2 tyres free of charge at my convenience and booked the service through the leasing company without issue as well. I’m approaching “fair wear and tear” time and know I have an alloy scuff and a couple of scratches here and there but I plan on writing a full “2 year FR 184 lease” review when all is said and done. My next step is to get a PCP deal, I think when I took out the lease I didn’t think much of the “but at the end you have nothing” comments from my parents but now I look at it I’ll have spent the best part of 8-9k over 2 years and I hand back the keys with nothing to show for it and no option to buy. For context I can get a 3 year lease on a GTI performance @ 17k Miles including servicing etc for around £310 a month with 3.5k upfront, I can get a pcp with the same for £300 a month, 6k upfront and have options at the end of it. Take a long hard time weighing up the pros and cons of whatever decision you do make and explore all avenues before committing to one.


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  5. cupra300uk

    cupra300uk Active Member

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    I’m going to steer clear from diesels forever I think, something I really don’t like about them, but like you said it has done the job very well it sounds.

    The mileage isn’t too big of an issue for me, 10k will suit me as it’s about a 10 mile round trip for me to work and back, so that’s pretty good. I’m averaging about 38mpg in my 1.2 tsi Ibiza FR, and on paper the cupra claims to get 40, but I’m prepared for low 30’s maybe even high 20’s if I rag it around lol.

    I see your point about moving away from SEAT, I just really love their cars and the three dealerships that I’ve been to I’ve received excellent customer service and just love how I’m treated as a customer. I know other manufacturers will have excellent customer service but I find SEAT to be a great company and love having the backing from VW. Funnily enough a GTI was one of the few other cars I was interested in, so will possibly have to revisit that thought at some point.

    I’d love to read that review you plan on doing whenever you get round to it, would be some useful information I’m sure. I think PCP would be the road that I would go down, like you said having nothing to show at the end of it seems like a sort of waste! The GTI sounds like a bargain and I’ve read and watched excellent reviews of it, a really well built car full of tech. I will take more time to think it through, just needed someone’s opinion really. Thanks again for your input it’s much appreciated.


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  6. BenHarris3

    BenHarris3 Active Member

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    Yeah I think at the time I got the car I had an ex that was in Northampton which was an hour each way from Nottingham so my 1.4 turbo corsa wasn’t really cutting it in efficiency and comfort, the Seat cabin is a great place to be, it’s not without the occasional rattle but it’s certainly not a million miles away from VW.

    I think just flesh out all the costs and hypotheticals, could you afford it if your circumstances changed in terms of work etc, I lost my job in Feb but through the sale of the corsa had all but paid for my lease upfront in terms of savings so knew I wouldn’t have a fall out whilst finding a new job.

    The GTI seems like a great package especially the MK7.5 adding virtual cockpit which is number 1 on my list of tech requirements but I’d certainly recommend Seats to anyone looking for a more affordable middle market car.

    Let me know what you decide when you get there but I’d certainly give an FR a test drive if you haven’t already, I think you’ll be surprised of the feel of the power going from a 1.2 as I was going from 120ps to 181


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  7. IrnBru

    IrnBru Active Member

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    I have the FR ST 150ps diesel, we got it purely for the fuel economy (600miles plus per tank) if you do the miles buy a diesel, if not, you only live once
     
  8. Shaady

    Shaady Active Member

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    Was in this exact same position, got my first job straight out of uni and in about 2 months went and bought a clio 197. Had that for 3 years then moved on to a Focus RS and spent a fortune running and modifying it. Was all great and good at the time but then I realised I was nudging 30 and still living at home whilst all my mates were getting on the housing ladder because I had spunked thousands on financing the cars

    Not trying to put you off in any way, loved both of them (still miss the Focus like mad, lottery win or come into some money and I will find it and buy it back) but as said maybe start a bit slower before jumping off the deep end financially. With the Leon I own it outright, and the feeling of not being in debt for a car for the first time in almost 10 years is something special and really puts things into perspective, especially when there is now a mortgage to pay for!
     
  9. BenHarris3

    BenHarris3 Active Member

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    Yep, when you’re spending more on a car than anything else in life it creeps up on you haha, I mean I’m still at home but I’m doing sensible things like “saving” and “help to buy” schemes as well as a flashy car to make sure I’m covered on all basis


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  10. cupra300uk

    cupra300uk Active Member

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    I can imagine the corsa not being a great long haul car! Yeah that’s a good point regarding the job, touch wood nothing bad happens lol. I think the virtual cockpit is really useful and I do like it as well, don’t even think the new limited edition Cupra R has a virtual cockpit, could be wrong though.

    I will definitely test drive a 1.8 and see how it feels, will be a lot cheaper on the insurance as well.

    Cheers again mate


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  11. cupra300uk

    cupra300uk Active Member

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    Indeed you do only live once! I will do about 8k miles per year on average, and isn’t petrol starting to become more efficient?

    Great car choices, I can imagine it was pretty **** getting rid of the RS! I feel though if I am to do it I should do it right away and start chipping away at the price. Probably awful logic but still lol. My 1.2 TSI just really isnt cutting it for me, and I know the cupra is a massive step up but I feel like this will be the car that I keep for years until it eventually goes.

    Do you reckon if I went into a SEAT dealership they would try and push me towards the sale just because it’s good for them or do you think they would try and talk some reason into me!


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  12. BenHarris3

    BenHarris3 Active Member

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    I guess it depends what kind of cupra you’re going for, they’re increasingly hard to come by but a second hand 300 wouldn’t be far off the price of a newer FR that they can entice you with some lucrative finance offer to boot. Dealerships don’t care what you drive most of the time, they work on commission and can often be told to push one model more than another for whatever reason, just go in there with reinforcements I’d say, a friend of mine once, and I quote, “went for a McDonald’s breakfast and came back with a car” because he just went for a look around a sandicliffe


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  13. cupra300uk

    cupra300uk Active Member

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    Yeah I’ve noticed that’s there’s very few of the one that I want, preferably the 300 SC with a manual but I could possibly be swayed for a 290, but definitely has to be three doors! So impractical but I love them.

    Yeah I’ll definitely be taking someone with me, just need to find the car now, oh and sell my current one


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  14. BenHarris3

    BenHarris3 Active Member

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    I tried to test drive a manual 300 and couldn’t find one within 100 miles of Nottingham, Derby had one that was out on a long term loan. They’re not making manual 300s for the time being so the stock is it as far as I’ve been told by dealers. This whole transition to cupra being an independent brand has all but halted them and unless a dealership specifically signs up to be a Cupra stockist they won’t get any at all


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  15. cupra300uk

    cupra300uk Active Member

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    Probably best to wait and find the one I want then rather than settle. Will still have a test drive of a 1.8 if I can find one that I like


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  16. Scrogg

    Scrogg Living life only a short bus ride from the edge...

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    Manual production has stopped completely. MY19 CUPRA is only available as DSG-auto.

    To quote Luke Skywalker in The Last Jedi...

    "Amazing. Every word of what you just said.. was wrong"

    Demand massively outstripping supply, made worse by WLTP and the move to MY19, has caused the delays and a lack of stock. It has nothing to do with the new sub-brand as that doesn't apply to Leon until the Mk4 is launched next year.

    Every SEAT dealership will be able to sell CUPRA, regardless of whether they are signed up to be a specialist site or not.
     
  17. BenHarris3

    BenHarris3 Active Member

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    I guess my local dealership is a liar then they said they don’t have any now and won’t have any in the future


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  18. cupra300uk

    cupra300uk Active Member

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    Bit confused sorry, I don’t know the technical stuff! Does this mean that they are stopping making the manual cupra 300’s? I’m sure I could get used to the dsg after a while but not sure what’s putting me off about it


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  19. BenHarris3

    BenHarris3 Active Member

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    Probably the fact you’re 21 and want to thrash through the gears and not just flap paddles, that’s why I’ve always wanted manual, for the driving ‘feel’ *pause for DSG fans*


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  20. cupra300uk

    cupra300uk Active Member

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    Yeah probably that


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