The end of PCP deal!
Discussion
I bought a T- turbo new for £128k on PCP via the ltd company. PCP ends in Nov balloon is £76k.
10k enjoyable miles- yes the heater went and car play glitches are sort of dealt with but hasn’t been too bad it’s still one of the best cars I’ve owned.
The 180m range (at 85%) hasn’t bothered me nor the lack of off street parking it’s a great car IMO. What do I do with the balloon?
300 for sale on pistonheads and talk of plummeting prices. For me there is really nothing else of interest so do I take the plunge at £76k? I’m tempted with the Macan EV next year but can’t help but feel these EV’s will be prave pills before we know it so might be better to cut the cord and say goodbye?
What are others doing?
10k enjoyable miles- yes the heater went and car play glitches are sort of dealt with but hasn’t been too bad it’s still one of the best cars I’ve owned.
The 180m range (at 85%) hasn’t bothered me nor the lack of off street parking it’s a great car IMO. What do I do with the balloon?
300 for sale on pistonheads and talk of plummeting prices. For me there is really nothing else of interest so do I take the plunge at £76k? I’m tempted with the Macan EV next year but can’t help but feel these EV’s will be prave pills before we know it so might be better to cut the cord and say goodbye?
What are others doing?
Caporky said:
I bought a T- turbo new for £128k on PCP via the ltd company. PCP ends in Nov balloon is £76k.
10k enjoyable miles- yes the heater went and car play glitches are sort of dealt with but hasn’t been too bad it’s still one of the best cars I’ve owned.
The 180m range (at 85%) hasn’t bothered me nor the lack of off street parking it’s a great car IMO. What do I do with the balloon?
300 for sale on pistonheads and talk of plummeting prices. For me there is really nothing else of interest so do I take the plunge at £76k? I’m tempted with the Macan EV next year but can’t help but feel these EV’s will be prave pills before we know it so might be better to cut the cord and say goodbye?
What are others doing?
First port of call would presumably be to your dealer to see what they'd offer you for your car a) as P/E and b) as an outright purchase. That would then give you a better idea as to what you could or should do.10k enjoyable miles- yes the heater went and car play glitches are sort of dealt with but hasn’t been too bad it’s still one of the best cars I’ve owned.
The 180m range (at 85%) hasn’t bothered me nor the lack of off street parking it’s a great car IMO. What do I do with the balloon?
300 for sale on pistonheads and talk of plummeting prices. For me there is really nothing else of interest so do I take the plunge at £76k? I’m tempted with the Macan EV next year but can’t help but feel these EV’s will be prave pills before we know it so might be better to cut the cord and say goodbye?
What are others doing?
Unfortunately no-one knows what the 2nd EV market is going to be like in the next 5-10 years.
I'd agree with the above and see what your OPC says first.
Have you spoken to your accountant also, sounds like this is a financial driven decision rather than you want a shiny new car. They'll be able to advise on the tax/drawdown implications I guess and you can assess which is the best for the business :cough: you.
I'd agree with the above and see what your OPC says first.
Have you spoken to your accountant also, sounds like this is a financial driven decision rather than you want a shiny new car. They'll be able to advise on the tax/drawdown implications I guess and you can assess which is the best for the business :cough: you.
Sport_Turismo_GTS said:
Caporky said:
I bought a T- turbo new for £128k on PCP via the ltd company. PCP ends in Nov balloon is £76k.
10k enjoyable miles- yes the heater went and car play glitches are sort of dealt with but hasn’t been too bad it’s still one of the best cars I’ve owned.
The 180m range (at 85%) hasn’t bothered me nor the lack of off street parking it’s a great car IMO. What do I do with the balloon?
300 for sale on pistonheads and talk of plummeting prices. For me there is really nothing else of interest so do I take the plunge at £76k? I’m tempted with the Macan EV next year but can’t help but feel these EV’s will be prave pills before we know it so might be better to cut the cord and say goodbye?
What are others doing?
First port of call would presumably be to your dealer to see what they'd offer you for your car a) as P/E and b) as an outright purchase. That would then give you a better idea as to what you could or should do.10k enjoyable miles- yes the heater went and car play glitches are sort of dealt with but hasn’t been too bad it’s still one of the best cars I’ve owned.
The 180m range (at 85%) hasn’t bothered me nor the lack of off street parking it’s a great car IMO. What do I do with the balloon?
300 for sale on pistonheads and talk of plummeting prices. For me there is really nothing else of interest so do I take the plunge at £76k? I’m tempted with the Macan EV next year but can’t help but feel these EV’s will be prave pills before we know it so might be better to cut the cord and say goodbye?
What are others doing?
Very soon this tech will be old hat and everyone will want the next shiny thing (you said yourself you fancy an EV Macan). I think there will be much reluctance by the car buying public to entertain the cost and complexity of these uber-EVs down the line, hence the values will drop significantly.
Personally I'd hand it back.
Strange comments. The car is brilliant to drive - well, my GTS is - and will be equally brilliant to drive in five years time. The only difference will be in range, but anyone buying a Taycan today knows the range will be circa 200 miles, so shouldn't complain. The charging infrastructure will also be better in five years time, so that will mitigate some of the range issues.
So many opinions seem to be driven my finance. I've always regarded PCP as a rather cunning scheme devised by the motor trade to convince people they can afford to buy something they actually cannot afford to buy. And now we have the added financial complication of whether to put an electric car through the company.
I like the simple life. I only ever buy a car that I can easily afford to pay cash without any impact on lifestyle, financial resources etc. I quite like the Ferrari Purosangue but I can't afford it so I buy a Porsche instead. Traded in a Macan Turbo (also bought for cash in 2019 so no issues with remaining bullet payments) which left me paying about £65,000 cash for a high spec Taycan GTS.
I will just enjoy the car and don't even think (or care) what it will be worth in 3 or 5 years time. When the time comes around, I will just trade it in and pay the cash balance for whatever is new and affordable at that time.
So many opinions seem to be driven my finance. I've always regarded PCP as a rather cunning scheme devised by the motor trade to convince people they can afford to buy something they actually cannot afford to buy. And now we have the added financial complication of whether to put an electric car through the company.
I like the simple life. I only ever buy a car that I can easily afford to pay cash without any impact on lifestyle, financial resources etc. I quite like the Ferrari Purosangue but I can't afford it so I buy a Porsche instead. Traded in a Macan Turbo (also bought for cash in 2019 so no issues with remaining bullet payments) which left me paying about £65,000 cash for a high spec Taycan GTS.
I will just enjoy the car and don't even think (or care) what it will be worth in 3 or 5 years time. When the time comes around, I will just trade it in and pay the cash balance for whatever is new and affordable at that time.
I think the great unknown with Ev's is battery longevity / acceptable degradation of performance / potential recycling-replacement costs etc.
At one time it was thought that failing batteries could be managed by replacing only failing modules, but because of internal resistances which need to be matched (all new or all similarly aged is OK) ... then this is a poor option requiring the trade-out of the old battery for a power bank or recycling (which costs more than building a new one if it can be done) ... and the purchase of a new one for more than the value of the car unless the secondhand price was to reflect this ... which as mentioned elsewhere it does not currently for fossil fuel driven cars.
Apologies for the very long sentence !
I was told it costs more environmentally to build a mid-sized electric car than it costs the build the same IC engined car and run it for 120,000 miles .... and the IC engined car will be inexpensively maintainable where currently the electric car will have to be? ... and it will have the additional environmental impact of around 30kWh per 100 miles (40,000 kWh to the same 120,000 miles).
At one time it was thought that failing batteries could be managed by replacing only failing modules, but because of internal resistances which need to be matched (all new or all similarly aged is OK) ... then this is a poor option requiring the trade-out of the old battery for a power bank or recycling (which costs more than building a new one if it can be done) ... and the purchase of a new one for more than the value of the car unless the secondhand price was to reflect this ... which as mentioned elsewhere it does not currently for fossil fuel driven cars.
Apologies for the very long sentence !
I was told it costs more environmentally to build a mid-sized electric car than it costs the build the same IC engined car and run it for 120,000 miles .... and the IC engined car will be inexpensively maintainable where currently the electric car will have to be? ... and it will have the additional environmental impact of around 30kWh per 100 miles (40,000 kWh to the same 120,000 miles).
Taycan’ a are great cars but the big issues with them is efficiency….you don’t get great mileage per kw. That’s something that is becoming more of a focus.
One of its major selling points is that it is Porsche’s only EV and the best one on the market when it comes to driving experience/quality. I am sure the Mcan will be a great car and won’t be cheap but it will be cheaper than the Taycan….I think the Macan will have a big impact on Taycan sales.
Would I buy a Taycan now ? Not if I was thinking about the cost of owning one. New cars are hideously expensive and I don’t really see how sales are sustained without flex in pricing.
One of its major selling points is that it is Porsche’s only EV and the best one on the market when it comes to driving experience/quality. I am sure the Mcan will be a great car and won’t be cheap but it will be cheaper than the Taycan….I think the Macan will have a big impact on Taycan sales.
Would I buy a Taycan now ? Not if I was thinking about the cost of owning one. New cars are hideously expensive and I don’t really see how sales are sustained without flex in pricing.
T25UFO said:
So many opinions seem to be driven my finance. I've always regarded PCP as a rather cunning scheme devised by the motor trade to convince people they can afford to buy something they actually cannot afford to buy. And now we have the added financial complication of whether to put an electric car through the company.
.
Ho hum ..
I had a CT 4S. Got rid due to numerous issues:
- No heater for 2 months (now been told the replacements are going as well)
- Constant glitches
- Inconsistent braking
- Abysmal battery life in the winter
One journey in minus 6 temps I got just over 150 miles, sitting at 60 on the motorway.
I sold it back to an OPC. At the time they were refusing to buy back Taycans as they had so many (luckily mine was a really nice spec). The 300 for sale isn't the half of it.
I took a hit on the value, but was glad to see it go. Never again.
- No heater for 2 months (now been told the replacements are going as well)
- Constant glitches
- Inconsistent braking
- Abysmal battery life in the winter
One journey in minus 6 temps I got just over 150 miles, sitting at 60 on the motorway.
I sold it back to an OPC. At the time they were refusing to buy back Taycans as they had so many (luckily mine was a really nice spec). The 300 for sale isn't the half of it.
I took a hit on the value, but was glad to see it go. Never again.
Just for a bit of balance, my 11 month old 2023 model 4SCT has been totally faultless to date (obviously the wheels will fall off tomorrow now I’ve written that) and the best daily car I’ve ever had by some margin.
Even on the coldest winter day, the worst range I’ve see on a motorway at 70-80 is 210 miles, with highs of 265 in the summer (on 21 inch wheels). The heater fiasco is shocking mind. The dealer stated that c25% of cars have failed to date and the replacement part will continue to fail as still not successfully re-engineered by Porsche. Looks like when this is finally done there’s going to be a recall across all vehicles.
Don’t miss my M5 comp one bit and can’t think of anything else I’d rather bumble about in even disregarding the huge tax benefits of running as company vehicle.
So what if they depreciate; that’s what cars do, well normally anyway?
The only bad experience to date of owning my first Porsche has been the dealers. What an arrogant bunch of Tosspots they’ve turned out to be. A software upgrade led to them telling me I needed a bumper off wheel re-alignment (to readjust the ID cameras), an expected 8-10 hours labour and a puncture mid tread requiring a new tyre. Laughed in their face and sorted at the tyre place next door for £25. Do some people actually just roll over and pay out? What a bunch of cowboys. Funnily enough I still haven’t received a service feedback questionnaire.
Even on the coldest winter day, the worst range I’ve see on a motorway at 70-80 is 210 miles, with highs of 265 in the summer (on 21 inch wheels). The heater fiasco is shocking mind. The dealer stated that c25% of cars have failed to date and the replacement part will continue to fail as still not successfully re-engineered by Porsche. Looks like when this is finally done there’s going to be a recall across all vehicles.
Don’t miss my M5 comp one bit and can’t think of anything else I’d rather bumble about in even disregarding the huge tax benefits of running as company vehicle.
So what if they depreciate; that’s what cars do, well normally anyway?
The only bad experience to date of owning my first Porsche has been the dealers. What an arrogant bunch of Tosspots they’ve turned out to be. A software upgrade led to them telling me I needed a bumper off wheel re-alignment (to readjust the ID cameras), an expected 8-10 hours labour and a puncture mid tread requiring a new tyre. Laughed in their face and sorted at the tyre place next door for £25. Do some people actually just roll over and pay out? What a bunch of cowboys. Funnily enough I still haven’t received a service feedback questionnaire.
elan362 said:
£128k to £76k (£52k depreciation) in 10,000 Miles 
The £76k is the end of PCP balloon payment. The car might be worth more or possibly less. Need to find out what it’s worth by talking to dealers, the likes of WBAC etc and then deciding what to do.
As mentioned above interest rate on a new PCP will probably be higher and if it’s a new car there’s depreciation to consider. Cost of a new car over, say, three years might be more than paying £76k for something valued at less than that.
Always try to work out a Total Cost Of Ownership number over a given period before deciding what to do.
Keep it or you’ll be liable for balance of the 1st year WDA. Eventually it can be your runabout down the line. Don’t let the worry worts bother you about depreciation as this will slow down. The technology with EVs has actually moved on quite slowly since the Tesla model S arrived. ICE cars have changed dramatically in the same time period. Also, people are always spouting off that the longevity is worse than ICE. This is also nonsense and there are examples of EVs doing >500K miles without significant drop off. Buy a 70K 964 and you may be looking at a top end engine rebuild, full suspension refresh, bodywork issues, and the list goes on.
Yep, I’m keeping my Taycan. Having said that, I’m not going to buy another EV until there’s a significant upgrade in the technology. I doubt this will be in the next 5 years, so I’ll still be running 2 ICE cars.
Yep, I’m keeping my Taycan. Having said that, I’m not going to buy another EV until there’s a significant upgrade in the technology. I doubt this will be in the next 5 years, so I’ll still be running 2 ICE cars.
Robert-udyrh said:
elan362 said:
£128k to £76k (£52k depreciation) in 10,000 Miles
The £76k is the end of PCP balloon payment. The car might be worth more or possibly less. Need to find out what it’s worth by talking to dealers, the likes of WBAC etc and then deciding what to do.
As mentioned above interest rate on a new PCP will probably be higher and if it’s a new car there’s depreciation to consider. Cost of a new car over, say, three years might be more than paying £76k for something valued at less than that.
Always try to work out a Total Cost Of Ownership number over a given period before deciding what to do.
Personally I got rid of mine because I wasn’t impressed by the number of issues I had on a brand new car, oh and the shocking 165mile range. It went to an OPC and has finally been sold by them over 3months later. I lost £500ish on it. Last time I looked the dealer had it up for £5k less than they gave me for it. They reduced the price by £15k from the point of time they started advertising it until it went off Porsche approved.
It’s worth having a chat with other high end marque dealerships too; in order to gauge interest as a px - I’ve just bought an Aston and when looking the majority of dealers I spoke to from Aston / Ferrari and Lamborghini after mentioning I’d recently had a couple of Taycans , told me they were being inundated with Taycan owners trying to shift them on.
Personally, I think anyone purchasing a Taycan now is going the Brave Pill route….
It would be interesting to see what interest and price they are achieving at BCA auctions (WBAC will of course give an indication).
It’s worth having a chat with other high end marque dealerships too; in order to gauge interest as a px - I’ve just bought an Aston and when looking the majority of dealers I spoke to from Aston / Ferrari and Lamborghini after mentioning I’d recently had a couple of Taycans , told me they were being inundated with Taycan owners trying to shift them on.
Personally, I think anyone purchasing a Taycan now is going the Brave Pill route….
It would be interesting to see what interest and price they are achieving at BCA auctions (WBAC will of course give an indication).
Edited by W12GT on Saturday 6th May 12:05
churchie2856 said:
The cheapest used Taycan Turbo at an OPC is £83,490 (Nov' 2022, 29K miles). WBAC on that very vehicle is £61,960.
In general WBAC to OPC difference is £10K, but in this case its nearly £22K. That speaks volumes to me.
In my experience you are miles away on the £10k difference. For example, my first Taycan was a 2021 RWD, I px’d for 80k, dealer put it up at 88k, but was reduced a couple of times down to 84k before it sold. That was just before Christmas, WBAC is £50,250.In general WBAC to OPC difference is £10K, but in this case its nearly £22K. That speaks volumes to me.
My 4S ST was px’d at 98k, 3months ago, originally up at 108k, sold by OPC when screen price was 93k, WBAC on that car now at 72k.
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