New 911 finance residuals

[therams]

Evening. So I'm looking at treating myself to a new 911 later this year. Doing a bit of research at the moment to try to work out what the finance options look like. Kind of want to know I can afford the repayments before I go into a Porsche centre and find out exactly what a they will offer.

As I see it there is no point me going in to one of those nice Porsche shops if the finance payments will be out of budget, so to save everyone embarrassment I'm trying to work it out in advance if I can afford one

Anyone have an idea of the residual values after 3 years / 50,000 miles on a fairly basic 911 carrera with a list price of around £80k inc vat?

I've got a rough idea of Porsche finance rates at 7 ish percent and I'm not expecting to get any discount on the list price, so with the residual amount I can work out the monthlies..... Roughly at least

Thanks in advance for any friendly PH'ers who might be in the know

[XGT]

I would say expect to have to cover £30-35k depreciation over 3 years with that sort of mileage so a residual of £45-50k tops.

Edited by XGT on Saturday 15th August 23:02

[mollytherocker]

So, 35k over 3 years plus 7%pa is about £1050 per month?

Ouch.

[Wilmslowboy]

The figures suggested about sound about right to me...perhaps a bit light...e.g. Could be as high as £1300 a month.

Let's assume lots of stuff.....

Basic price, -£75k plus some valuable extras (Nav and PDK) - £5k - total price -£80k

Deposit ??? Let's say £8k

Amount to fund £72k

Value of car (trade) after 3 years and 50k miles ...probably £40k...
amount finance co is willing to guarantee - 90% therefore GFV will be £36k (it's the milage that kills it)

Amount to repay - £72k - £36k = £36k

So payments likely to be £1k amount plus interest (@7%) ..£1350.

[Wilmslowboy]

More assumptions...

Just looked at a porsche typical examples for a 991.

The GFV normally sits around 55% for 36 months and 10,000 miles a year...

Once you add in the excess milage charge (33p for a 991) at 50,000 miles over 36 months the GFV is likely to 44%

So on your example at £80k, a 36 month residual after 50,000 miles is likely to be £35,200

Edited by Wilmslowboy on Sunday 16th August 07:21

[Bubba Zanetti]

From the Porsche website:

Solutions Personal Contract Plan* representative example for Porsche 911 Carrera Coupe subject to a 36 month, 10,000 mile per annum agreement.

Duration 36 Months
Deposit £15,500.00
35 monthly payments of £795.78
Cash price of vehicle £74,204.00
Acceptance fee** £195.00
Optional final payment £39,936.10
Option to purchase fee*** £95.00
Total amount payable £83,383.40
Total amount of credit £58,704.00
Representative APR 6.40%
Rate of interest 6.14%
Excess mileage charge 33.9p per mile

• At the end of the agreement there are three options: i) own the vehicle: pay the optional final payment; ii) return the vehicle: subject to fair wear and tear, charges may apply; or iii) replace: part exchange the vehicle.

Available on Solutions Personal Contract Plan. **Payable with first payment ***Payable with optional final payment. 18s and over. Subject to availability. Finance subject to status. Terms and conditions apply. Offer available when ordered by 30th September 2015 from participating Centres. Offers are not available in conjunction with any other offer and may be varied or withdrawn at any time. Accurate at time of publication June 2015. Freepost Porsche Financial Services.