996 Turbo finance questions
996 Turbo finance questions
Author
Discussion

jo strummer

Original Poster:

99 posts

271 months

Thursday 22nd March 2007
quotequote all
It looks to me that a 996 Turbo 2001/2002 is a really good buy at the moment ie prices around £45-50K. Got a £10K deposit the bit I'm not sure now though is as the price continues to drop that has the same effect on residual. On say a two or three year deal what is going to be the residual coming out the other end? Whats my monthly payment likely to be? Thoughts gratefully received.

wanta996

5,622 posts

237 months

Thursday 22nd March 2007
quotequote all
Oracle Finance quoted me the following on £37k 996 C4s with flexible lease purchase.

Cost - £37k
Deposit - £10k
48 Monthly payments at £424
Final Balloon at £14500

Email amy@oraclefinance.co.uk for a quote, they are very prompt and dont push hard to sell you a deal.

jo strummer

Original Poster:

99 posts

271 months

Thursday 22nd March 2007
quotequote all
Cheers

I love this site sometimes!

johnfm

13,751 posts

280 months

Thursday 22nd March 2007
quotequote all
sportsandclassic finance did my GT3. Very well organised bunch.

MaKSiNG

382 posts

256 months

Thursday 22nd March 2007
quotequote all
I think if buying a car on finance a Porsche is a good bet, since its (comparatively) good residuals should mean that after the term you should be able to cover the balloon payment with the proceeds from a private sale.

BLKROKT

755 posts

237 months

Thursday 22nd March 2007
quotequote all
I'll second that. The rate I got on financing through Porsch is hard to beat. I think it was something ridiculously low like 1% above prime (or UK equiv).

Baloon for a Turbo is typically 50% for a 2 year deal. Not bad because it won't possibly depreciate that much.

levron73

211 posts

246 months

Thursday 22nd March 2007
quotequote all
Based on the figures above this sounds a bit expensive.

Take a look at www.grosvenor-butterworth.co.uk/car_loan_calculator.html which will allow you to play around with the balloon and the APR.

From looking at your example it looks like you have a 40% balloon. Based on £37,000 list, £10,000 deposit, £14,800 balloon giving £424 per month over 48 months you are paying 10% APR.

My feeling, based on the finance that I ghave done in the past is that you should be able to get this figure down to £370 ish per month under the same terms without much hassle!

SNDa

1,107 posts

238 months

Thursday 22nd March 2007
quotequote all
Jo

Worth considering graham who I financed my car through. came up with a few ideas which the other firms didn't. graham.ellis@mannisland.co.uk and mann island seem quite organised. no doubt there'll be other views on here(!)#

Sanjib

paracetamol

4,267 posts

274 months

Thursday 22nd March 2007
quotequote all
SNDa said:
Jo

Worth considering graham who I financed my car through. came up with a few ideas which the other firms didn't. graham.ellis@mannisland.co.uk and mann island seem quite organised. no doubt there'll be other views on here(!)#

Sanjib


I second that- Graham is good

wanta996

5,622 posts

237 months

Thursday 22nd March 2007
quotequote all
Also had a quote from Mannisland - amuir@mannisland.co.uk, to be honest though, they all claim to be able to beat each others quote so it may be a good idea to shop around - Oracle seems to specialise in performance cars and that is why i quoted them.

elms

1,954 posts

282 months

Thursday 22nd March 2007
quotequote all
Speak to Rob, Alex or Karren @ Classic and Sports Finance

01869 329 500

www.classicandsportsfinance.com (There number has just changed from that on the website. So call the one above)

They do a lot with the Porsche owners club so are well up on the Porsche product range.


Edited by elms on Thursday 22 March 12:42

David911rsr

1,446 posts

240 months

Thursday 22nd March 2007
quotequote all
Jamie Garside from www.performancecarfinance.co.uk has helped a number of members on the 911.com forum to finance their cars. I have not used him myself as I buy my cars outright however, he is very well thought of by the people that have used his services.


Adam B

29,738 posts

284 months

Friday 23rd March 2007
quotequote all
David911rsr said:
Jamie Garside from www.performancecarfinance.co.uk has helped a number of members on the 911.com forum to finance their cars. I have not used him myself as I buy my cars outright however, he is very well thought of by the people that have used his services.


another recommendation for Jamie, he was great to deal with and recommended going with the deal Audi offered me as it was as good as anything he (or anyone else) would be able to come up with. A rare honesty!

doshy

861 posts

247 months

Friday 23rd March 2007
quotequote all
elms said:
Speak to Rob, Alex or Karren @ Classic and Sports Finance

01869 329 500

www.classicandsportsfinance.com (There number has just changed from that on the website. So call the one above)

They do a lot with the Porsche owners club so are well up on the Porsche product range.


Edited by elms on Thursday 22 March 12:42



I spoke to a few different finance companies, Classic and sport really are very good.

dsgv6

138 posts

251 months

Friday 23rd March 2007
quotequote all
Yes, this can be done much cheaper.

Classic & Sports Finance can offer very competitive deals, especially if you push them with a competitors quote (ie. Capital Bank).

By my calculations, based on the figures quoted above you should be able to get that deal to under £350 per month, based on 10k deposit and 40% balloon.

DSG

jo strummer

Original Poster:

99 posts

271 months

Friday 23rd March 2007
quotequote all
Really? Do you think I can get it that low? In my mind I thought around £450 would be the figure can I ask how you think I can get it to £350 ( and I am conscious you have better things to do with your time lol)

dsgv6

138 posts

251 months

Friday 23rd March 2007
quotequote all
Sure. As levron73 said earlier, use the calculator mentioned above and plug in the figures you need.

Speak to the various finance houses and you should be able to get at least 8% apr (i've even seen 7.5% this week advertised on PH). Actually, this is based on 50% balloon, not 40 as i said earlier. Some underwriters will do this over 48 months though. Most go with 40-45% over 4 years and 50% over 3 years.

£37k Car
£10k deposit
£14800 Balloon (40%)
8% APR
48 months @ £391 per month

£37k Car
£10k deposit
£18500 Balloon (50%)
8% APR
48 months @ £325 per month

It can be done but requires some bartering. Remember they WANT your business.

DSg


Edited by dsgv6 on Friday 23 March 14:46

sam997turbo

1 posts

234 months

Tuesday 17th April 2007
quotequote all
I financed my New 997 Turbo with oracle finance and they seemed experienced and gave me good rates on my new turbo as well as my previous 2 cars ( Ferrari 360 and RangeRover Sport tdv6 ) Ask for Andy King who is the director as he seems to be the best contact.