Porsche PCP - Help !!!

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wilko
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Post by wilko »

Jeffb wrote: Sat Sep 14, 2019 9:25 am Hi Simon,

Many thanks for the welcome and you have summed me up with the heart ruling the head !! Yup, the big 55 in April but intend to keep on working. Just going to access the PCLS, clear the remaining mortgage and buy a Porsche !!

Hi Wilko,

Sound advice indeed and why would I want to purchase a depreciating asset ? I’ve worked ridiculously hard over the years like a lot of people so I’m going to treat myself, I feel it’s right lol.
I’t does Simon, but I’ve always paid cash for my Porsches, and some have cost me as little as £600 a month in depreciation, but some have been nearer the £1k a month and I expect my cayenne to be around that.
If you finance them and divide the deposit by the term as well, you’ll get around £1k a month.
To me accessing your pension pot before you’ve got it to £1m protection levels or higher if you were lucky enough to protect it, is mad as it limits the amount you can continue to pay in.
Also to me if you can’t afford the car whilst you’re working out of normal income, then you shouldn’t buy it, but that’s just me and the way I think.
macan gts (current)
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Paul
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Post by Paul »

Back to the OP (and to re-ignite the heart bit of the argument😉) ....get a quote for 4 yr finance (or even 5 if you get it on a used car.) The rate will be cheaper, payments probably similar and if you intend to settle next spring you may find the total interest payable over that short period will be less.

Having opened the box, if you re-visit next year the gap will be bigger as the Jag depreciates and you may not as readily find the car you seem to have decided on today.

Man maths possibly, but effectively the total monthly payments between now and retirement represent how badly you want / don’t want a Macan😉😂
1st Sapphire SD
2nd Sapphire GTS
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MCDK
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Post by MCDK »

The interest charges between now and next year when you can clear the loan will be relatively low so my thought would be to go for it now. Clear the loan next year if
You can and want to.

Other bit of advice would be to avoid eye overpriced Porsche PCP product. Use Clydesdale Bank like many on here have done and saved maybe £100 per month.
Bazza06
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Post by Bazza06 »

Even financial advisors, the very people we depend upon to keep us financially sane in our male menopausal years when thoughts of pensions and retirement should prevail, have their heads turned and heart strings tugged at by the thought of driving a Porsche :D
Previously owned:
2022 Macan GTS Gentian Blue
Macan SD - Volcano Grey
Boxster S - Polar Silver
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Wing Commander
Posts: 19871
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Post by Wing Commander »

Bazza06 wrote: Sat Sep 14, 2019 1:38 pm Even financial advisors, the very people we depend upon to keep us financially sane in our male menopausal years when thoughts of pensions and retirement should prevail, have their heads turned and heart strings tugged at by the thought of driving a Porsche :D
Oh yes, we're human too! ;)
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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ScotMac
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Post by ScotMac »

Welcome :D :D :D

If you plan to buy a new Macan in April it might take from now until then to get your spec. correct (especially if you ask for advice on here :lol: :lol: :lol: )

It took me 14 months to get mine :shock: :shock:
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andreas
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Post by andreas »

wilko wrote: Sat Sep 14, 2019 9:04 am I’m not an IFA, but I’d suggest that buying a porsche unless you can afford £1000 a month for the rest of your working/retired life is unwise, and spending any of your pension pot lump sum on one would not be financially prudent.

All IMHO
What you spend your own money on is a personal decision, and whether or not it's prudent comes down to personal values. Before I used a lump of my pension pot to buy my Macan, I spent another lump to buy a £150K yacht. And if you think Macan running costs are high, you should steer clear of boating!
Macan S collected 4 Dec 2017 - Jet Black, 20" SportDesign, Agate/Pebble, 18-way, Pano roof, Bi-Xenons with PDLS, Surround View, PASM, PS+, spare wheel, towbar.
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Jeffb
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Joined: Sat Sep 14, 2019 3:09 am

Post by Jeffb »

Loving the comments !!

Financial Advisers do have hearts I promise !!

I went away and had a good old think and here’s what I’ve done........Just ordered a new Macan 3 litre petrol, it’s going to take 6 months to arrive so fit’s in perfectly. Scrapped the idea of using some tax free cash from the pension and went with PCP over 4 years where I can just hand it back or buy it....or go electric !

The comments on here have really helped, you do seem like a nice bunch !!

Best Wishes

Jeff
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SAC1
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Post by SAC1 »

Welcome to Macan Forums Jeff

Great decision on the 3.0S and joining the Porsche club. Do take full advantage of the driving experience at Silverstone.

You can now spend those next months agonising on which extras to choose and what colours to have! :lol:

We're here to help!! ;) ;)
Steve

2020 GTS in Sapphire Blue
(sold) 2017 SD in Rhodium Silver
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Wing Commander
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Post by Wing Commander »

Jeffb wrote: Sun Sep 15, 2019 7:35 am Loving the comments !!

Financial Advisers do have hearts I promise !!

I went away and had a good old think and here’s what I’ve done........Just ordered a new Macan 3 litre petrol, it’s going to take 6 months to arrive so fit’s in perfectly. Scrapped the idea of using some tax free cash from the pension and went with PCP over 4 years where I can just hand it back or buy it....or go electric !

The comments on here have really helped, you do seem like a nice bunch !!

Best Wishes

Jeff
Wow! And I thought that I was impulsive! ;)

Congrats on the Macan S order!

Can you give us an idea of the provisional spec you’ve ordered? We’d love to offer our views! :P

I hope that Porsche gave you a good deal on the PCP. Quite a few of us have gone with Clydesdale for a lower APR, albeit hire purchase (with a balloon) as opposed to PCP.

Cheers,
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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