Macan GTS - PCP 6.9% APR?!

[MCDK]

Yep I would call them to ask the question specifically. Ask what happens at the end if the car is worth less than their guaranteed final figure. It does perhaps sound like it’s a guaranteed final value in which case if the car is worth less you can simply walk away but important to fully understand their stance. Otherwise if it’s a just a final amount due no matter what the car is worth then it may be worth paying the Porsche silly interest rate to have the security of their value being the underwritten.

[Jon A]

Yep I would call them to ask the question specifically. Ask what happens at the end if the car is worth less than their guaranteed final figure. It does perhaps sound like it’s a guaranteed final value in which case if the car is worth less you can simply walk away but important to fully understand their stance. Otherwise if it’s a just a final amount due no matter what the car is worth then it may be worth paying the Porsche silly interest rate to have the security of their value being the underwritten.

[Cam]

Yep I would call them to ask the question specifically. Ask what happens at the end if the car is worth less than their guaranteed final figure. It does perhaps sound like it’s a guaranteed final value in which case if the car is worth less you can simply walk away but important to fully understand their stance. Otherwise if it’s a just a final amount due no matter what the car is worth then it may be worth paying the Porsche silly interest rate to have the security of their value being the underwritten.

Just checked with Lloyds over the phone and via email they confirmed that I that is a GFV and I can walk away if the value is less at the end of the contract. Thanks again for your advice.

[Col Lamb]

As a matter of interest, how long do you intend to keep the GTS?

[Cam]

As a matter of interest, how long do you intend to keep the GTS?

I really don’t know. This at my first Porsche and I don’t think I’m ready for the EV. The PCP is for 4 years.

[Wolands Advocate]

We have done PCP three times before (my last two BMWs and my wife's Fiat 500). On each occasion, we paid the final instalment and kept the car, because in each instance we were happy with the car still, had the money available, and it was comfortably worth more than its GFV.

For example, the GFV on my last car, a BMW 440i Gran Coupe was £17.4k after 4yrs/32k miles, which I paid. Two years later, when the car was 6yrs old with 50k on the clock, I got £20k from a dealer for it.

More startlingly, the GFV on my wife's Fiat 500 was £5.4k after 3yrs and 24k miles. We still have the car after 10yrs and it is still worth about £4k. Admittedly that's because it hasn't quite done 24k miles yet, but you get my point.

[as7920]

We have done PCP three times before (my last two BMWs and my wife's Fiat 500). On each occasion, we paid the final instalment and kept the car, because in each instance we were happy with the car still, had the money available, and it was comfortably worth more than its GFV.

For example, the GFV on my last car, a BMW 440i Gran Coupe was £17.4k after 4yrs/32k miles, which I paid. Two years later, when the car was 6yrs old with 50k on the clock, I got £20k from a dealer for it.

More startlingly, the GFV on my wife's Fiat 500 was £5.4k after 3yrs and 24k miles. We still have the car after 10yrs and it is still worth about £4k. Admittedly that's because it hasn't quite done 24k miles yet, but you get my point.

We were in a similar situation with my wife's Fiat 500X.

After four years, GFV was £5.4k. WBAC valued it at over £10k! Paid off the balloon with a low APR bank loan and it's just had its 6th annual service and it's still valued at over £8k.

We did get a cracking (>25%) deal on it new though.

Wish I could say the same for my M4. Will be some time before I get any equity in that.

[as7920]

We have done PCP three times before (my last two BMWs and my wife's Fiat 500). On each occasion, we paid the final instalment and kept the car, because in each instance we were happy with the car still, had the money available, and it was comfortably worth more than its GFV.

For example, the GFV on my last car, a BMW 440i Gran Coupe was £17.4k after 4yrs/32k miles, which I paid. Two years later, when the car was 6yrs old with 50k on the clock, I got £20k from a dealer for it.

More startlingly, the GFV on my wife's Fiat 500 was £5.4k after 3yrs and 24k miles. We still have the car after 10yrs and it is still worth about £4k. Admittedly that's because it hasn't quite done 24k miles yet, but you get my point.

We were in a similar situation with my wife's Fiat 500X.

After four years, GFV was £5.4k. WBAC valued it at over £10k! Paid off the balloon with a low APR bank loan and it's just had its 6th annual service and it's still valued at over £8k.

We did get a cracking (>25%) deal on it new though.

Wish I could say the same for my M4. Will be some time before I get any equity in that, but I also intend to keep it longer term, I do tend to change (too!) frequently.

[Pythongrün]

Unless you plan to pay the final lump sum to keep the car then I’d be more inclined to lease.

PCP’s can be great. They’ve always worked for me with motorbikes and my daughter benefitted from increased used car prices last year with her Seat Leon to the tune of almost £8K.

That said time have changed so you need to choose the finance option that best matches your longer term plan.

I also have a leased EV (Tesla) and I actually feel smug AF that I leased it as whilst it’s a phenomenal car, the depreciation is keeping some owners awake at night.

[snipez999]

We had never leased before, but are just coming up to the 3 years on our 2 RRs. Got such a deal on the SVR that it was a no-brainer. I reckoned on it being worth no more than 50% of its invoice value after the 3 years were up, but I'm only paying 39% over the term (at least that's me *thinking* I came out on top?!) That includes the RFL too, so it's actually a bit less than that overall.
I like the idea of handing back keys and not having to gamble on the balloony payment thingamajig either. Lease companies always seem to have good deals in the Summer when we've usually blown our wads on holidays and suchlike.
This time round, however, we are buying our 2 Macans outright as I have the crazy notion that I would come out the equivalent of around £4.5k a year better off over the 4 years if buying as opposed to leasing this time.
Just the small matter of winning the lottery between now and 1 September though