Porsche finance rates
Discussion
Hi all,
Not intending to start the debate of financing, just thought I'd share with you what the OPC has offered me on a GTS.
Retail price of £61k
10% deposit
48 x £1078
Final of £23607
That's a fairly hefty APR rate and overall about £81k for a car that in 4 years is worth £40k...and that's probably optimistic. Should add that there was no negotiation on my part, as was over the phone and my deposit is more than 10% but have already found someone offering me 7.7% reducing the monthly to £908. Will speak to the OPC tomorrow and see what they say.
Anyone recently purchased and had a similar rate?
Not intending to start the debate of financing, just thought I'd share with you what the OPC has offered me on a GTS.
Retail price of £61k
10% deposit
48 x £1078
Final of £23607
That's a fairly hefty APR rate and overall about £81k for a car that in 4 years is worth £40k...and that's probably optimistic. Should add that there was no negotiation on my part, as was over the phone and my deposit is more than 10% but have already found someone offering me 7.7% reducing the monthly to £908. Will speak to the OPC tomorrow and see what they say.
Anyone recently purchased and had a similar rate?
V8KSN said:
I don't know if it's because I am tight or northern but the thought of spending over £1000 a month for FOUR YEARS and then just handing the car back and walking away is insane to me.
Sorry OP I know you said you didn't want to start a discussion on finance.
Its all relative though isnt it? If its loose change to you, then you dont even raise an eyebrow.Sorry OP I know you said you didn't want to start a discussion on finance.
Cheers
Another tight northerner
V8KSN said:
I don't know if it's because I am tight or northern but the thought of spending over £1000 a month for FOUR YEARS and then just handing the car back and walking away is insane to me.
Sorry OP I know you said you didn't want to start a discussion on finance.
According to the figures from the OP there would be £15-20k of equity in the car, so handing the keys back would be madness!Sorry OP I know you said you didn't want to start a discussion on finance.
I'm northern. And tight. But do find myself (without boring you all with the details) in a position where I have a healthy deposit and £1k a month to spend on finance. But the thought of spending £48k in 4 years and then having to stump up a further £23k to own the thing just makes me feel a bit funny.
Having started out at £20k for a Cayman, I then looked at a 997.1 C2S for £30k. IMS and bore scoring convinced me to look at a 997.2 C2S for £45k and then I saw the GTS at £61k. The worrying thing is despite my budget tripling, if you just had a 'to hell with it' attitude, you can easily talk yourself into a brand new 991 because you can 'afford' it.
So after today's experience, I'm back on the 997.2 with a nice deposit and I'll own the thing outright after 3 years. I'll still lose a fair old chunk on it, obviously more so than an outright purchase. But the enjoyment I'll get out of it without the worry of a balloon payment at the end is something I'm comfortable with. Well, more so than eventually paying £81k for a £40k car in 4 years time.
Having started out at £20k for a Cayman, I then looked at a 997.1 C2S for £30k. IMS and bore scoring convinced me to look at a 997.2 C2S for £45k and then I saw the GTS at £61k. The worrying thing is despite my budget tripling, if you just had a 'to hell with it' attitude, you can easily talk yourself into a brand new 991 because you can 'afford' it.
So after today's experience, I'm back on the 997.2 with a nice deposit and I'll own the thing outright after 3 years. I'll still lose a fair old chunk on it, obviously more so than an outright purchase. But the enjoyment I'll get out of it without the worry of a balloon payment at the end is something I'm comfortable with. Well, more so than eventually paying £81k for a £40k car in 4 years time.
Andy, i think thats what its all about.....what you are comfortable with. You don't want a huge liability that exceeds the enjoyment the car gives you.
Being stuck with a car that you realise was a mistake, but are stuck with, is like a loveless marriage that exists only for the kids.
Being stuck with a car that you realise was a mistake, but are stuck with, is like a loveless marriage that exists only for the kids.
andyc11 said:
I'm northern. And tight. But do find myself (without boring you all with the details) in a position where I have a healthy deposit and £1k a month to spend on finance. But the thought of spending £48k in 4 years and then having to stump up a further £23k to own the thing just makes me feel a bit funny.
Having started out at £20k for a Cayman, I then looked at a 997.1 C2S for £30k. IMS and bore scoring convinced me to look at a 997.2 C2S for £45k and then I saw the GTS at £61k. The worrying thing is despite my budget tripling, if you just had a 'to hell with it' attitude, you can easily talk yourself into a brand new 991 because you can 'afford' it.
So after today's experience, I'm back on the 997.2 with a nice deposit and I'll own the thing outright after 3 years. I'll still lose a fair old chunk on it, obviously more so than an outright purchase. But the enjoyment I'll get out of it without the worry of a balloon payment at the end is something I'm comfortable with. Well, more so than eventually paying £81k for a £40k car in 4 years time.
Good man Having started out at £20k for a Cayman, I then looked at a 997.1 C2S for £30k. IMS and bore scoring convinced me to look at a 997.2 C2S for £45k and then I saw the GTS at £61k. The worrying thing is despite my budget tripling, if you just had a 'to hell with it' attitude, you can easily talk yourself into a brand new 991 because you can 'afford' it.
So after today's experience, I'm back on the 997.2 with a nice deposit and I'll own the thing outright after 3 years. I'll still lose a fair old chunk on it, obviously more so than an outright purchase. But the enjoyment I'll get out of it without the worry of a balloon payment at the end is something I'm comfortable with. Well, more so than eventually paying £81k for a £40k car in 4 years time.
For what it's worth, the 997.2 uses the DFI engine which (so far) seems more reliable than the previous generation....... I am sure someone will correct me if I am wrong
V8KSN said:
The OP didn't say that's all he had! He just stated that was the deal - 10% deposit on a £61k car
Yep that was just the deal offered. Completely agree though that 10% on a car worth £60k is just getting a bit daft but for those who are comfortable with that, it clearly can be done. retreat said:
Talking of finance, get yourself over to the M Power forum and see the deals on a brand new M5, they seem desperate to get rid of them, a few K down and £500 a month will see you in Munichs finest...
No 911 though...
Jim
Also saw you can get into a brand new C63 AMG for a ridiculously low deposit and about £700 a month. Again, a final payment to own the thing but you can see why people go for it at that price. After a few years, chop it in and start all over again. But I'm set on a 911. No 911 though...
Jim
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