Financing or not?

[GTB]

Visiting my OPC and negotiating deal on a new GTS last month I was quoted similar 7.9% finance for their PCP package, so that would appear to be a standard figure. Bought enough cars to know SE gets a commission etc etc. Now given current intrest rates etc 7.9% is expensive, now before I went in I had a PCP quote for a new GTS from my bank and actually detailed the OPC as the selling dealer.
Im likley sworn to secrecy but my inrest rate from my bank was considerably less than 7.9% so I gave the option to SE to at least match it!! Now thats up to them is lending money better making something than not securing the finance deal whatsoever, so when they said OK we will match the bank I still insisted they at least beat it as all theyw ere doing was offering the same. They sell cars end of story. If they wish to be finance dealers and giving out loans etc they need to compete at the market rate.

GTB

[Winryn]

I’ve a GTS on order and I’m not sure whether I’ll go outright purchase or finance route. My issue is I’m quite nervous about the value of my car in 3-4 years time. If the government make some changes to push us out of ice cars (they destroyed diesel cars over night) over the next few years, I like the idea I can just vt or give the car back to the finance company and let them take a loss should the car tank in value. I’m not certain yet and have plenty of time to think before my hopeful may delivery. I’d save a lot of interest but it’s a £70k car maybe no one will want in 4 years time

[ScotMac]

Some good points here.

I normally go down the cash route but PCP or finance can sometimes make sense.

[Joe390]

Visiting my OPC and negotiating deal on a new GTS last month I was quoted similar 7.9% finance for their PCP package, so that would appear to be a standard figure. Bought enough cars to know SE gets a commission etc etc. Now given current intrest rates etc 7.9% is expensive, now before I went in I had a PCP quote for a new GTS from my bank and actually detailed the OPC as the selling dealer.
Im likley sworn to secrecy but my inrest rate from my bank was considerably less than 7.9% so I gave the option to SE to at least match it!! Now thats up to them is lending money better making something than not securing the finance deal whatsoever, so when they said OK we will match the bank I still insisted they at least beat it as all theyw ere doing was offering the same. They sell cars end of story. If they wish to be finance dealers and giving out loans etc they need to compete at the market rate.

GTB

Is the 7.9 as it’s a GTS? Only my OPC is offering 5.9% for finance on a new S.

[Neil1911]

I’ve a GTS on order and I’m not sure whether I’ll go outright purchase or finance route. My issue is I’m quite nervous about the value of my car in 3-4 years time. If the government make some changes to push us out of ice cars (they destroyed diesel cars over night) over the next few years, I like the idea I can just vt or give the car back to the finance company and let them take a loss should the car tank in value. I’m not certain yet and have plenty of time to think before my hopeful may delivery. I’d save a lot of interest but it’s a £70k car maybe no one will want in 4 years time

Winryn, what do you think youll be wanting to drive in 4 years time? I'll be surprised if a Macan doesn't keep you happy. I'm 2 years into Macan ownership and, unless I get an easier route into a Gen 3 than is currently available, I'm EXTREMELY likely to still be driving it then. Value won't come into it.

[MikeM]

“Cash is King” any other funding form is just additional cost of ownership.
When people talk about matching or beating a return through investment they rarely consider the tax implications. If you have the available cash use it.

[Winryn]

I’ve a GTS on order and I’m not sure whether I’ll go outright purchase or finance route. My issue is I’m quite nervous about the value of my car in 3-4 years time. If the government make some changes to push us out of ice cars (they destroyed diesel cars over night) over the next few years, I like the idea I can just vt or give the car back to the finance company and let them take a loss should the car tank in value. I’m not certain yet and have plenty of time to think before my hopeful may delivery. I’d save a lot of interest but it’s a £70k car maybe no one will want in 4 years time

Winryn, what do you think youll be wanting to drive in 4 years time? I'll be surprised if a Macan doesn't keep you happy. I'm 2 years into Macan ownership and, unless I get an easier route into a Gen 3 than is currently available, I'm EXTREMELY likely to still be driving it then. Value won't come into it.

As much as it pains me to admit it, I’d imagine I’ll be in an electric macan. I’d imagine road tax increases, petrol price increases, limits on where ice cars can go will make it very difficult to use and own an ice car. I suspect range and charging infrastructure will be pretty much there in 4 years time too. I know deep down an expensive thirsty car is probably as silly purchase in these times but it’s a box I must tick

[SAC1]

“Cash is King” any other funding form is just additional cost of ownership.
When people talk about matching or beating a return through investment they rarely consider the tax implications. If you have the available cash use it.

Completely agree.

[Neil1911]

I’ve a GTS on order and I’m not sure whether I’ll go outright purchase or finance route. My issue is I’m quite nervous about the value of my car in 3-4 years time. If the government make some changes to push us out of ice cars (they destroyed diesel cars over night) over the next few years, I like the idea I can just vt or give the car back to the finance company and let them take a loss should the car tank in value. I’m not certain yet and have plenty of time to think before my hopeful may delivery. I’d save a lot of interest but it’s a £70k car maybe no one will want in 4 years time

Winryn, what do you think youll be wanting to drive in 4 years time? I'll be surprised if a Macan doesn't keep you happy. I'm 2 years into Macan ownership and, unless I get an easier route into a Gen 3 than is currently available, I'm EXTREMELY likely to still be driving it then. Value won't come into it.

As much as it pains me to admit it, I’d imagine I’ll be in an electric macan. I’d imagine road tax increases, petrol price increases, limits on where ice cars can go will make it very difficult to use and own an ice car. I suspect range and charging infrastructure will be pretty much there in 4 years time too. I know deep down an expensive thirsty car is probably as silly purchase in these times but it’s a box I must tick

I may well take it off your hands when that time comes. I won't want to go anywhere that bans them unless that includes the Highlands, N Yorks and the Brecon Beacons ☺

[mueslibrown]

I've done PCP, loans and cash in the past and having been in debt in the previously I have an aversion to any sort of credit now. This is my most expensive car purchase so I went down the cash route but I didn't want to use any savings so I did a bit of research, placed my bet on the stock market and a few months later came away with enough profit to purchase my Turbo outright. SE at Reading wanted to sell me the finance and when I said I'll pay cash, they said 'Oh you don't want to do that, you could be using that cash for something else ...'.