PCP experience with Porsche

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MikeM
Posts: 2234
Joined: Tue Nov 17, 2015 11:13 pm

Post by MikeM »

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 👍
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

Eon
Posts: 16
Joined: Sun Jan 27, 2019 8:22 pm

Post by Eon »

MikeM wrote: Thu Jan 31, 2019 10:04 pm 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 👍
Cheers buddy!
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Tom 2000
Posts: 1049
Joined: Sat Aug 19, 2017 7:23 am
Location: Norn Iron

Post by Tom 2000 »

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)
Deleted User 1874

Post by Deleted User 1874 »

Tom 2000 wrote: Thu Jan 31, 2019 11:03 pm 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%.
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.
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VanB
Posts: 3730
Joined: Wed Sep 21, 2016 6:58 pm

Post by VanB »

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
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Wing Commander
Posts: 19871
Joined: Tue Oct 06, 2015 5:43 pm
Location: Wiltshire

Post by Wing Commander »

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?
+1. And your hand is strengthened if you have done multiple deals with the same OPC.

Maybe I shouldn’t have used three different OPCs for my four Porsche purchases 🤔 :oops: :lol:
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
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VanB
Posts: 3730
Joined: Wed Sep 21, 2016 6:58 pm

Post by VanB »

It won't matter WingCo - you are on the database
Current - 991.2 GTS C4 GT Silver
Previous: Macan GTS Night Blue
Previous: 981 Cayman S Agate
Deleted User 1895

Post by Deleted User 1895 »

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.
Deleted User 1874

Post by Deleted User 1874 »

derekm 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.
It won't be long before someone suggests you can easily make 20% profit out of the cash with virtually no risk or effort :lol:
Deleted User 1895

Post by Deleted User 1895 »

Peteski wrote: Fri Feb 01, 2019 6:15 pm
derekm 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.
It won't be long before someone suggests you can easily make 20% profit out of the cash with virtually no risk or effort :lol:
:shock: At my age, I have to make a rather more careful choice than that sort of "get rich quick" scheme!
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