New vs secondhand
Discussion
So, as I mentioned in a previous thread, I will be looking to buy a 981 cayman s in the new year (although I think I will probably test drive a 997.2 c2s and c4s just in case I find I prefer these). Now assuming I go for the cayman s rather than the 911, I will have a choice of a new car or one around a year old.
I will be buying on a pcp deal, and I know that when buying from a manufacturer such as BMW, it is often cheaper to buy new than a year or 2 old second hand car, as they offer better rates on new cars and often give large dealer contributions. However, with Porsche it seems manufacturer contributions are low on new cars and finance rates are high. My question is, does anyone have experience of buying a year or so old car from Porsche on a pcp or even a lease hire deal? If so, how did the payments compare with buying the same car new?
Cheers
I will be buying on a pcp deal, and I know that when buying from a manufacturer such as BMW, it is often cheaper to buy new than a year or 2 old second hand car, as they offer better rates on new cars and often give large dealer contributions. However, with Porsche it seems manufacturer contributions are low on new cars and finance rates are high. My question is, does anyone have experience of buying a year or so old car from Porsche on a pcp or even a lease hire deal? If so, how did the payments compare with buying the same car new?
Cheers
mrdemon said:
if you want a 981 Cayman don't drive a gts or Cayman 987.2 as you will want the steering from those and never want to get into a new car again lol
PCP and Porsche work out very very expensive.
We shall see. I don't think I could afford the gts anyway as second hand they seem to be a minimum of £60k and as they are more expensive to run than a new cayman I would want to spend less on a 911 if I got one. Obviously everyone has different opinions, but the review on the 981 have been superb and man people on PH seems very keen despite having owned/driven 911s and previous generation boxters and cayamans.PCP and Porsche work out very very expensive.
In terms of a PCP or lease deal, would you say you can get a cheaper rate through an external car finance company? If so, do you have an suggestions?
For the price of a new Cayman S with a few choice options you are in to used 991 territory?
Suspect you may get the best "deal" if you can find an OPC with a new stock Cayman that has been sitting around. Buying in the last week of December may not be a bad plan either.
PCP can work if you go into it with your eyes open, buy the right car and it suits your personal circumstances.
Your biggest problem is likely to be being spoiled for choice.
Suspect you may get the best "deal" if you can find an OPC with a new stock Cayman that has been sitting around. Buying in the last week of December may not be a bad plan either.
PCP can work if you go into it with your eyes open, buy the right car and it suits your personal circumstances.
Your biggest problem is likely to be being spoiled for choice.
mrdemon said:
if you cannot afford a 2nd hand GTS you cannot afford a new Cayman S on a PCP imo.
I don't like to ever say what people can afford, but I used your words ;0)
Well I have around a £5-7k deposit and I can spend up to £750 a month, so I know I can afford a new cayman s as there are lease deals around for under £600 per month. As the cheapest gts on the Porsche site seems to be £60k, and a gts would be more to run than a new cayman, I think this would push me beyond my limit (especially as I would like to spend no more than £675 a month if I got a 911, to cover additional tax, insurance and service bills). Just to reiterate, I CAN afford a new cayman s, however I am trying to get information on what the best way to do it with the deposit I have. I don't like to ever say what people can afford, but I used your words ;0)
rob.kellock said:
For the price of a new Cayman S with a few choice options you are in to used 991 territory?
Suspect you may get the best "deal" if you can find an OPC with a new stock Cayman that has been sitting around. Buying in the last week of December may not be a bad plan either.
PCP can work if you go into it with your eyes open, buy the right car and it suits your personal circumstances.
Your biggest problem is likely to be being spoiled for choice.
I don't think so- the cheapest 991 carrera s on the used Porsche sit is £68k. My spec for a new cayman s seems to come in around £55k. Suspect you may get the best "deal" if you can find an OPC with a new stock Cayman that has been sitting around. Buying in the last week of December may not be a bad plan either.
PCP can work if you go into it with your eyes open, buy the right car and it suits your personal circumstances.
Your biggest problem is likely to be being spoiled for choice.
Yeah I was thinking the stock route might not be a bad idea. I am interested to hear peoples' experiences when buying new or a couple of years old from Porsche.
There are 129 on here from £58k @ 4500 miles and OPC cars from under £63k and their prices are only going one way.
As I said, you'll be spoiled for choice. You will certainly get a new Cayman within your deposit/ monthly budget but don't expect anything much back at the end of the term.
I initially financed my new Spyder by PCP 3 1/2 years ago, various parts of the deal were significantly more attractive to me by the end of the negotiation period.
As I said, you'll be spoiled for choice. You will certainly get a new Cayman within your deposit/ monthly budget but don't expect anything much back at the end of the term.
I initially financed my new Spyder by PCP 3 1/2 years ago, various parts of the deal were significantly more attractive to me by the end of the negotiation period.
I would certainly recommend driving a 987.2 first. The two cars are very similar and the 981 is, although probably better overall for most people, subject to a few annoying changes (steering).
You could get one a couple of years old and save about £20k in principal alone and a lot in interests payments and depreciation.
In my view, buying a new porsche on finance is a very expensive way to pay for a car.
I marginally prefer the 981 but didn't think it was worth many thousands more than a 987.2.
You could get one a couple of years old and save about £20k in principal alone and a lot in interests payments and depreciation.
In my view, buying a new porsche on finance is a very expensive way to pay for a car.
I marginally prefer the 981 but didn't think it was worth many thousands more than a 987.2.
P1ato said:
You can get a very nice Cayman S from RSJ or Virgin 911 for around £20K rather than financing 90% of a new car...OK, I know you can afford a new one!
I appreciaate you input, but I don't know what is with peoples' obsession with telling someone who can afford to lease or buy a car on finance quite comfortably to go and buy a lesser car. I don't really like the look of the old cayman s and I don't want an old cayman s. I think with the right wheels the 981 looks very special whereas the old cayman doesn't. I don't get it either, just ignore. There's no definitive answer to your question, too many variables - cars, dealers, finance houses; afraid you'll just have to do the maths once you find a car or two.
IME Porsche finance tend to be expensive certainly so if you don't negotiate. You won't get the sort of new car deal that Mercedes are doing. I would imagine that buying a new porsche is not going to work out cheaper than a used offering.
I have 997.2 S and have driven the new cayman S extensively (had one for a few weeks). It's a great car, lots of kit, a massive advance on the 997.2 interior.
I however prefer mine (I was tempted at the beginning of the loan period with a cayman), it's more 'Porsche' (for me) and drives very differently.
You may or may not like it, but either way you'll be getting an awesome car. All the best.
IME Porsche finance tend to be expensive certainly so if you don't negotiate. You won't get the sort of new car deal that Mercedes are doing. I would imagine that buying a new porsche is not going to work out cheaper than a used offering.
I have 997.2 S and have driven the new cayman S extensively (had one for a few weeks). It's a great car, lots of kit, a massive advance on the 997.2 interior.
I however prefer mine (I was tempted at the beginning of the loan period with a cayman), it's more 'Porsche' (for me) and drives very differently.
You may or may not like it, but either way you'll be getting an awesome car. All the best.
When you say you can afford one, on a lease or PCP £700 does not get you one.
It is never going to be yours.
If you can afford one then you have 60k to spend.
at £700 your just borrowing one :-) and that's one expensive way to drive a car which is not yours imo.
PCP is a mugs game, I always say if you cannot buy the car on a 5 year loan you cannot really afford the car.
But if you are ok losing 30k to drive a loan car for a few years then that's all good.
I cannot afford to loose that Ammount driving some one else car.
What do you do then in 3 years and 30k out of pocket ?
It is never going to be yours.
If you can afford one then you have 60k to spend.
at £700 your just borrowing one :-) and that's one expensive way to drive a car which is not yours imo.
PCP is a mugs game, I always say if you cannot buy the car on a 5 year loan you cannot really afford the car.
But if you are ok losing 30k to drive a loan car for a few years then that's all good.
I cannot afford to loose that Ammount driving some one else car.
What do you do then in 3 years and 30k out of pocket ?
You asked new v second hand. The 981 is a great car, but Porsches are fantastic second hand buys too, and you can have 90% of the fun for a fraction of the cost. You clearly want a new car (or a nearly new one) so your question is really "how can I best finance an expensive Porsche with a 10% deposit?". Personally, I'd never finance a car, but I hope others on this forum can help you get a good deal.
mjw0321 said:
I appreciaate you input, but I don't know what is with peoples' obsession with telling someone who can afford to lease or buy a car on finance quite comfortably to go and buy a lesser car.
...or you could spend less and get a 
(and you'll see a lot more of your cash back when you come to change)
I know that the OP does not want a 987.2, and I do not intend to step on his toes or make any criticism of his decision to go for a 981. I certainly didnt intend to be rude in suggesting that he should try a 987 first (and I probably should have worked out that this wasnt an option from the 1st post mentioning only 997s as an alternative).
Putting his typical rudeness aside, though, mrdemon does sort of have a point. If we are rational actors, the real question is not "Do I prefer X car to Y car?" but "Is X car worth £5-8k per year more to me?". I would find it hard to justify spending PCP money on any car.
The 2ndhand (bought outright) vs new (bought on PCP) decision is pretty stark if you approach it on a "How much does this car cost me per year over the time that I have it?" basis.
Putting his typical rudeness aside, though, mrdemon does sort of have a point. If we are rational actors, the real question is not "Do I prefer X car to Y car?" but "Is X car worth £5-8k per year more to me?". I would find it hard to justify spending PCP money on any car.
The 2ndhand (bought outright) vs new (bought on PCP) decision is pretty stark if you approach it on a "How much does this car cost me per year over the time that I have it?" basis.
f1ashgordon said:
I don't get it either, just ignore. There's no definitive answer to your question, too many variables - cars, dealers, finance houses; afraid you'll just have to do the maths once you find a car or two.
IME Porsche finance tend to be expensive certainly so if you don't negotiate. You won't get the sort of new car deal that Mercedes are doing. I would imagine that buying a new porsche is not going to work out cheaper than a used offering.
I have 997.2 S and have driven the new cayman S extensively (had one for a few weeks). It's a great car, lots of kit, a massive advance on the 997.2 interior.
I however prefer mine (I was tempted at the beginning of the loan period with a cayman), it's more 'Porsche' (for me) and drives very differently.
You may or may not like it, but either way you'll be getting an awesome car. All the best.
Yeah, I definitely think I need to drive both, but when I visited a Porsche garage, the looks of cayman s really impressed me. If I drive the 997.2 s and much prefer the driving experience, that will override the looks factor. IME Porsche finance tend to be expensive certainly so if you don't negotiate. You won't get the sort of new car deal that Mercedes are doing. I would imagine that buying a new porsche is not going to work out cheaper than a used offering.
I have 997.2 S and have driven the new cayman S extensively (had one for a few weeks). It's a great car, lots of kit, a massive advance on the 997.2 interior.
I however prefer mine (I was tempted at the beginning of the loan period with a cayman), it's more 'Porsche' (for me) and drives very differently.
You may or may not like it, but either way you'll be getting an awesome car. All the best.
mrdemon said:
When you say you can afford one, on a lease or PCP £700 does not get you one.
It is never going to be yours.
If you can afford one then you have 60k to spend.
at £700 your just borrowing one :-) and that's one expensive way to drive a car which is not yours imo.
PCP is a mugs game, I always say if you cannot buy the car on a 5 year loan you cannot really afford the car.
But if you are ok losing 30k to drive a loan car for a few years then that's all good.
I cannot afford to loose that Ammount driving some one else car.
What do you do then in 3 years and 30k out of pocket ?
I don't need your opinion on whether you think I can afford it or not. I can afford to legally have a new cayman s on my drive, paying a set monthly amount and with plenty spare. It is never going to be yours.
If you can afford one then you have 60k to spend.
at £700 your just borrowing one :-) and that's one expensive way to drive a car which is not yours imo.
PCP is a mugs game, I always say if you cannot buy the car on a 5 year loan you cannot really afford the car.
But if you are ok losing 30k to drive a loan car for a few years then that's all good.
I cannot afford to loose that Ammount driving some one else car.
What do you do then in 3 years and 30k out of pocket ?
I am in my 20's and I haven't got £60k sitting around in cash, but I want to be able to enjoy a car like this as soon as possible. I already have a 4 bedroom detached house in a nice part of the south east and I am in a career where my salary will increase steadily as is my fiancee, so please don't tell me I should be saving for a deposit on a house etc.
Again, I don't get the mind set that leads someone to reply to an original post such as mine with a description of how, in in their eyes, you can't afford a car because you are buying on the very popular pcp deals.
ORD said:
I know that the OP does not want a 987.2, and I do not intend to step on his toes or make any criticism of his decision to go for a 981. I certainly didnt intend to be rude in suggesting that he should try a 987 first (and I probably should have worked out that this wasnt an option from the 1st post mentioning only 997s as an alternative).
Putting his typical rudeness aside, though, mrdemon does sort of have a point. If we are rational actors, the real question is not "Do I prefer X car to Y car?" but "Is X car worth £5-8k per year more to me?". I would find it hard to justify spending PCP money on any car.
The 2ndhand (bought outright) vs new (bought on PCP) decision is pretty stark if you approach it on a "How much does this car cost me per year over the time that I have it?" basis.
I apologise if you think I was rude, but the more posts I read, the more I see some people suggesting things which don't address the original question. Whether it is "you can't afford it if you buy on pcp" or "you should save for a deposit on a house" or "buy a £5k now and build up so you can eventually afford to buy a £60k car outright when your are 103".Putting his typical rudeness aside, though, mrdemon does sort of have a point. If we are rational actors, the real question is not "Do I prefer X car to Y car?" but "Is X car worth £5-8k per year more to me?". I would find it hard to justify spending PCP money on any car.
The 2ndhand (bought outright) vs new (bought on PCP) decision is pretty stark if you approach it on a "How much does this car cost me per year over the time that I have it?" basis.
I want a new/newish Porsche as soon as possible. I can afford to do this comfortably if I use pcp or lease. I can't afford to do this if I buy cash. I want a set monthly payment with as little uncertainty as possible (running costs, repairs etc.). I am fine with spending this much money on a car I love, and having nothing at the end- I will have had 3 or 4 years with a car I couldn't otherwise afford, and then I can start again.
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