Hi Eon,
If you have always bought your cars cash outright and you have the available funds don't change your practice it is the most cost effective method, don't let anyone tell you different
PCP experience with Porsche
Previous Porsche’s
2008. 987 Boxster S Sport basalt
2012. 991 Carrera S aqua
2016. Macan Turbo volcano
Current
2020. Macan GTS crayon
2024. Macan GTS gentian sometime this year https://configurator.porsche.com/porsche-code/PR8H7WC6
2008. 987 Boxster S Sport basalt
2012. 991 Carrera S aqua
2016. Macan Turbo volcano
Current
2020. Macan GTS crayon
2024. Macan GTS gentian sometime this year https://configurator.porsche.com/porsche-code/PR8H7WC6
Every now and again an unmissable deal comes up. For instance the Golf R deal of about 4 years ago. PCP was way less than depreciation!!! About 10% per annum. I got in at 12%.
Macan SD Vocano Grey. LEDs, Pano Roof, PSE, Sports Chrono, PASM, Sports Design Mirrors, 21" Sports Classics in Black, lots of other extras.
http://www.porsche-code.com/PJ2XHAR5 for the day that this works again.
987 Boxster 2.7 (2006)
http://www.porsche-code.com/PJ2XHAR5 for the day that this works again.
987 Boxster 2.7 (2006)
This is true, but these deals simply don't come up in Porsche world. Porsche finance is always very expensive IME.
The only car I've ever bought on PCP was my current Tesla, simply because the GFV was very high (well above what I would expect to sell it privately after 3-4 years) and the interest rate was only 1.5% APR. The total cost of the finance worked out at £3,500 over 4 years on a £88k car, which I thought was a no-brainer given that the depreciation would eclipse that figure without the inflated GFV.
With Porsche I've always bought outright and relied on a strong residual value in the open market, which has always worked well. I did once take their finance for a week just to get a £1000 discount, but that was a right PITA to cancel and really put me off dealing with them again.
It's not entirely true that they don't give a discount or deposit contributions although what they do give is generally relatively small in % terms. If you are a reasonable negotiator you can probably get both as the SE and Business manager have a certain amount of discretion. Bear in mind that Porsche finance is actually VW financial services and deals are always available when buying a VW so why not push for it with Porsche?
Current - 991.2 GTS C4 GT Silver
Previous: Macan GTS Night Blue
Previous: 981 Cayman S Agate
Previous: Macan GTS Night Blue
Previous: 981 Cayman S Agate
- Wing Commander
- Posts: 19874
- Joined: Tue Oct 06, 2015 5:43 pm
- Location: Wiltshire
+1. And your hand is strengthened if you have done multiple deals with the same OPC.VanB wrote: ↑Fri Feb 01, 2019 1:13 pm It's not entirely true that they don't give a discount or deposit contributions although what they do give is generally relatively small in % terms. If you are a reasonable negotiator you can probably get both as the SE and Business manager have a certain amount of discretion. Bear in mind that Porsche finance is actually VW financial services and deals are always available when buying a VW so why not push for it with Porsche?
Maybe I shouldn’t have used three different OPCs for my four Porsche purchases
Simon
Sold: 2016 Rhodium Silver Macan 2.0
Sold: 2013 Platinum Silver 911 (991.1) C2
Sold: 2017 Carmine Red Panamera 4
Mine: 991.2 Carrera T Racing Yellow 06/04/2018
Sold: 2016 Rhodium Silver Macan 2.0
Sold: 2013 Platinum Silver 911 (991.1) C2
Sold: 2017 Carmine Red Panamera 4
Mine: 991.2 Carrera T Racing Yellow 06/04/2018
I paid cash for both my Macans. I couldn't justify paying 6.5% interest on the OPC PCP deal when building society deposit accounts are paying about 1.2% and a cautious investment portfolio about 3%. So by taking the money out of the building society to buy the car, you lose 1.2% interest but save 6.5%. A bit of a no-brainer.
I've used PCP to buy a couple of 6 series BMW's in recent years: they offered a much lower rate of interest (0% in one case) and an incentive (£2,000) to go down the PCP route. A bit of a no-brainer.
I've used PCP to buy a couple of 6 series BMW's in recent years: they offered a much lower rate of interest (0% in one case) and an incentive (£2,000) to go down the PCP route. A bit of a no-brainer.
It won't be long before someone suggests you can easily make 20% profit out of the cash with virtually no risk or effortderekm wrote: ↑Fri Feb 01, 2019 5:56 pm I paid cash for both my Macans. I couldn't justify paying 6.5% interest on the OPC PCP deal when building society deposit accounts are paying about 1.2% and a cautious investment portfolio about 3%. So by taking the money out of the building society to buy the car, you lose 1.2% interest but save 6.5%. A bit of a no-brainer.
I've used PCP to buy a couple of 6 series BMW's in recent years: they offered a much lower rate of interest (0% in one case) and an incentive (£2,000) to go down the PCP route. A bit of a no-brainer.
At my age, I have to make a rather more careful choice than that sort of "get rich quick" scheme!Peteski wrote: ↑Fri Feb 01, 2019 6:15 pmIt won't be long before someone suggests you can easily make 20% profit out of the cash with virtually no risk or effortderekm wrote: ↑Fri Feb 01, 2019 5:56 pm I paid cash for both my Macans. I couldn't justify paying 6.5% interest on the OPC PCP deal when building society deposit accounts are paying about 1.2% and a cautious investment portfolio about 3%. So by taking the money out of the building society to buy the car, you lose 1.2% interest but save 6.5%. A bit of a no-brainer.
I've used PCP to buy a couple of 6 series BMW's in recent years: they offered a much lower rate of interest (0% in one case) and an incentive (£2,000) to go down the PCP route. A bit of a no-brainer.
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