I've bought a 2018 Macan GTS with 15k bells and whistles, had a full body wrap and added a full set of winter Spyder wheels.
When I read here that people only hold their cars for 3-4 years I am bemused. New is old on day one of ownership - 20%? Why not even out and spread the depreciation over a longer time period?
The new Macan is hardly a leap into the future. I plan to go electric once the range gets to an actual 400 miles and the fast recharge can be achieved in the time it takes for a quick slash, a coffee and the equivalent time required for a petrol tank re-fill. Oh, and all local electricity substations and lamp posts are upgraded so there are an abundance of charging points nation wide. Until then, why bother going electric?
I can understand the must have the latest and status thing but I don't need that so I struggle with the financial reasoning.
Please explain. What am I missing?
Sell or Hold
Most are bought on 3-4 year finance deals with a huge balloon payment at the end or chop in, rinse and repeat. Plenty are on lease deals too. Last time I was in our local OPC talking about buying outright the sales guys thought I was mad!
The warranty expiring after 3 years (new cars) is one consideration.
Current: 2022 Macan S http://www.porsche-code.com/PP4FF9A4
Sold: 2019 Macan S
Sold: 2016 Macan 2.0
Sold: 2011 Cayman
Sold: 2019 Macan S
Sold: 2016 Macan 2.0
Sold: 2011 Cayman
Modern cars are built to last well over a decade, naturally subject to responsible use, regular servicing, working and storing conditions. Even Korean makers give 5 years warranty, we should have more faith.
The real issue is the new shiny objects in the showroom!
The real issue is the new shiny objects in the showroom!
Current: 911 Carrera T - PPM9RU51
On order: 911 Targa 4S - PPDV8NY4
On order: 911 Targa 4S - PPDV8NY4
I kept my last 2 Macan's for about 2 years each, sold both because of the deal I was offered to get into a new one. The latest one will probably be kept a bit longer unless I get another offer that's hard to refuse.
The longest I've ever kept a car was my old 987 Boxster which I had for 8 years, loved that car but it spent the last 18 months of its life sat on the drive and I did less than 2K miles in it so decided it had to go.
The longest I've ever kept a car was my old 987 Boxster which I had for 8 years, loved that car but it spent the last 18 months of its life sat on the drive and I did less than 2K miles in it so decided it had to go.
Current
- Guards Red 981 Cayman
GT Silver 718 Boxster 25
Personally, no matter how good the car is, I just get bored of it and fancy a change. Now that I’ve embraced motorbikes too, I’m hoping I can just swap those more regularly as thankfully it’s cheaper!
Sent from my iPhone using Tapatalk
Sent from my iPhone using Tapatalk
No longer part of the Porsche Family. Now enjoying a Giulia Quadrifoglio.
Macan S Diesel delivered Oct 6th 2016. http://www.porsche-code.com/PHI3WP95. Sold March 2018.
Macan S Diesel delivered Oct 6th 2016. http://www.porsche-code.com/PHI3WP95. Sold March 2018.
When I read here that people only hold their cars for 3-4 years I am bemused. New is old on day one of ownership - 20%? Why not even out and spread the depreciation over a longer time period?
I can understand the must have the latest and status thing but I don't need that so I struggle with the financial reasoning.
Please explain. What am I missing?
[/quote]
PCP's, around 80% of private sales are through them, or a similar funding vehicle, not sure if that can be said for all Porsche sales but as the cost of finance continues to remain at an historic low and with the ease of access lots choose to take this route. Basically it's car rental or pay for use, it depends on your opinion to car ownership. Interestingly though it is the rental Divisions for most manufacturers that give the greatest profit.
I can understand the must have the latest and status thing but I don't need that so I struggle with the financial reasoning.
Please explain. What am I missing?
[/quote]
PCP's, around 80% of private sales are through them, or a similar funding vehicle, not sure if that can be said for all Porsche sales but as the cost of finance continues to remain at an historic low and with the ease of access lots choose to take this route. Basically it's car rental or pay for use, it depends on your opinion to car ownership. Interestingly though it is the rental Divisions for most manufacturers that give the greatest profit.
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
I think that all the financial witchcraft and flipping cars works in a low inflation environment.
The day interest rates go up substantially, we will have a shift to longer-term ownership.
That is why every car I buy I am prepared to drive until it’s wheels fall off.
The day interest rates go up substantially, we will have a shift to longer-term ownership.
That is why every car I buy I am prepared to drive until it’s wheels fall off.
Current: 911 Carrera T - PPM9RU51
On order: 911 Targa 4S - PPDV8NY4
On order: 911 Targa 4S - PPDV8NY4
Pivot - That is my approach. Perhaps I ought to have estimated the financial jiggery-pokery approach to see if a cash purchase was a rash move. But over 10-15 years it is not easy to calculate.
My BMW lasted 14 years and then the wheels did almost fall off!
WIth a high performance /priced car I'd rather buy new than worry about how it might have been mistreated by previous owners. If one has the rainy day dosh earning SFA then buying new avoids such concerns.
My BMW lasted 14 years and then the wheels did almost fall off!
WIth a high performance /priced car I'd rather buy new than worry about how it might have been mistreated by previous owners. If one has the rainy day dosh earning SFA then buying new avoids such concerns.
I am tempted to buy cash, but the dealer thinks that I am mad or peddling some unlicensed recreational products.
We will see next week what Brexit does to fin markets, GBP/USD and ultimately interest rates [emoji857]
We will see next week what Brexit does to fin markets, GBP/USD and ultimately interest rates [emoji857]
Current: 911 Carrera T - PPM9RU51
On order: 911 Targa 4S - PPDV8NY4
On order: 911 Targa 4S - PPDV8NY4
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