My Macan SD ... Nearly
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- Posts: 142
- Joined: Wed Jun 10, 2020 5:21 pm
- Location: Cambridgeshire
A final payment of £21k after 4 years starting from £33/£31k offers little value to you unless the monthlies are more important and you will be happy to walk away?
To be fair in 4 years time walking away from a Diesel may be the only realistic option due to the burden of increasing taxation and likelihood of tight geographical limits on use etc.
If the monthly payment works then that has to be good, no?
hth
To be fair in 4 years time walking away from a Diesel may be the only realistic option due to the burden of increasing taxation and likelihood of tight geographical limits on use etc.
If the monthly payment works then that has to be good, no?
hth
PaulB wrote: ↑Fri Jun 26, 2020 8:10 pm Sale Price: £33,000
(Order Form: £31250 - Car / £250 - 2 years Road side assistance / £1500 - 2 years warranty)
Deposit: £1500
To Pay: £31500
48 months PCP, 8000 miles
6.8% APR
Final Payment: ~£21400
Total Amount Payable: ~£40200
My thoughts - the monthly is great, the final payment seems high, total amount payable means there is no "hand it back option at 50%", meaning keeping the car the full term.
I plan on keeping the car the full term but with all the uncertainty of the economy, the final payment and lack of "get out" concerns me.
Looking at it another way, assume you walk away after 4 years, it will have cost you a total of £18,800 or £4,700 a year. If that feels OK then go for it as it takes away any uncertainty about diesel residuals 4 years hence. If there is any equity in the car, just treat that as an unexpected bonus.
Macan GTS - Mar 17 to Jan 23
Macan SD - Apr 16 to Mar 17
Macan SD - Apr 16 to Mar 17
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- Posts: 984
- Joined: Sat Aug 20, 2016 9:11 pm
Is the £21,400 an actual guaranteed future value, or just a balloon payment? On a second hand car I suspect the latter, and I think that £21,400 is going to be more than an 8 year old car is worth.
Macan GTS: PH1UFLL8
If you are buying on a Porsche PCP I thought the final payment (£21400) was optional? It is on mine - that’s the whole point of a PCP; to give a safety net if residuals do plummet (which they won’t )
PCP is “expensive” because you are always paying interest on that final balloon right up until the end and not on a reducing balance to zero as with typical finance.
If you like / want the car, are comfortable with the deposit and monthlies then just go with it.
PCP is “expensive” because you are always paying interest on that final balloon right up until the end and not on a reducing balance to zero as with typical finance.
If you like / want the car, are comfortable with the deposit and monthlies then just go with it.
1st Sapphire SD
2nd Sapphire GTS
viewtopic.php?f=23&t=4296
Current 992 S Cab
viewtopic.php?f=23&t=9845&p=196465#p196465
2nd Sapphire GTS
viewtopic.php?f=23&t=4296
Current 992 S Cab
viewtopic.php?f=23&t=9845&p=196465#p196465
I am assuming the final payment is optional with it being a PCP. The dealership believes the trade in value of the car after 4 years will in line with the final payment and they are "hopeful" there may be some equity (based on low mileage and reasonable spec of car as is at my time of purchase).
Would the future value of a Macan that is 2 years younger but with more miles and a lesser spec be greater than an example like mine where the car is a bit older but has less than half the miles with doube the spec?
In short, does age of car benefit over lower mileage and spec when it comes to GFV?
Would the future value of a Macan that is 2 years younger but with more miles and a lesser spec be greater than an example like mine where the car is a bit older but has less than half the miles with doube the spec?
In short, does age of car benefit over lower mileage and spec when it comes to GFV?
2015 Macan SD - Carrara White
Pan Roof, PDLS, Sport Design Kit with rear mid section painted, 20inch RS Spyders, PCM/Nav, ACC, Lane Keep Assist, Lane Change Assist, Black Sports Tailpipes etc
Pan Roof, PDLS, Sport Design Kit with rear mid section painted, 20inch RS Spyders, PCM/Nav, ACC, Lane Keep Assist, Lane Change Assist, Black Sports Tailpipes etc
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- Posts: 984
- Joined: Sat Aug 20, 2016 9:11 pm
I would double check that 'assumption'. If it is really a PCP then you would expect the final payment to be optional as well.
Macan GTS: PH1UFLL8
I agree with Charles cautionary note here, just be absolutely clear that you are NOT committed to settle the final payment. As a then 9 year old SD with c50k miles will certainly not come close to that level of “trade in value” plus you will be liable to cover any faults or flaws considered over and above the accepted condition for the year.
Previous Porsche’s
2008. 987 Boxster S Sport basalt
2012. 991 Carrera S aqua
2016. Macan Turbo volcano
2020. Macan GTS crayon (sold 04/24)
Awaiting delivery
2024. Macan GTS gentian. mid May https://configurator.porsche.com/porsche-code/PR8H7WC6
2008. 987 Boxster S Sport basalt
2012. 991 Carrera S aqua
2016. Macan Turbo volcano
2020. Macan GTS crayon (sold 04/24)
Awaiting delivery
2024. Macan GTS gentian. mid May https://configurator.porsche.com/porsche-code/PR8H7WC6
Thanks guys. The email correspondence with the business manager mentions "optional final payment" a few times on recent emails but i have asked for confirmation of such to be included in my paperwork when signing on Saturday. Although, i suspect it will already be there.
2015 Macan SD - Carrara White
Pan Roof, PDLS, Sport Design Kit with rear mid section painted, 20inch RS Spyders, PCM/Nav, ACC, Lane Keep Assist, Lane Change Assist, Black Sports Tailpipes etc
Pan Roof, PDLS, Sport Design Kit with rear mid section painted, 20inch RS Spyders, PCM/Nav, ACC, Lane Keep Assist, Lane Change Assist, Black Sports Tailpipes etc
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