Sell or Hold

MikeM · Post by **MikeM** » Sun Dec 09, 2018 9:50 pm

No matter what any dealer or their finance managers should otherwise tell you. Cash every time and if you buy new, unless that is you are happy to burn £££££'s! Hang onto it for a while. With a few exceptions, the more expensive the car the greater the £ loss. Welcome to the world of Porsche

not for the faint hearted

Caster · Post by **Caster** » Sun Dec 09, 2018 11:08 pm

"When I was a lad" I used to eek every last mile out of my motors - often spending more time under the bonnet than I did in the driver's seat - until they simply wouldn't go anymore or crumbled into a pile of rust etc. So, I guess I'd have agreed with you then that 3-4 years wasn't enough.

Nowadays, at my age, I've only got a few more motors to be able to enjoy driving + nowt better than changing every 3-4 years at most (often less) to enjoy as many more as I can + I don't have to get bonnet up any more!

Pivot · Post by **Pivot** » Mon Dec 10, 2018 8:13 am

I suspect that the sales guys and gals are incentivised to sell financial product while they push tin. It helps them to move more stock and earn better wages... oh well, none of us are complaining, it is entirely our call how we finance our shiny objects.

MikeM · Post by **MikeM** » Mon Dec 10, 2018 8:33 am

Nowadays, at my age, I've only got a few more motors to be able to enjoy driving + nowt better than changing every 3-4 years at most (often less) to enjoy as many more as I can + I don't have to get bonnet up any more!
[/quote

Agreed, re £££££ You can't take them with you, if you have it use it to fund whatever you like. Motors are an expensive hobby but still more cost effective than Boats or Helicopters and especially a bargain when compared to a Divorce

.. Fortunately my wife doesn't want one of them

.

Pivot · Post by **Pivot** » Mon Dec 10, 2018 8:42 am

Funny you said that Mke, just yesterday I had lunch at the yacht club, where I saw a sad picture of beautiful water-crafts waiting for their masters to visit and have some fun.
We can have fun almost every day [emoji41]

MikeM · Post by **MikeM** » Mon Dec 10, 2018 9:12 am

Pivot wrote: ↑Mon Dec 10, 2018 8:42 am Funny you said that Mke, just yesterday I had lunch at the yacht club, where I saw a sad picture of beautiful water-crafts waiting for their masters to visit and have some fun.
We can have fun almost every day [emoji41]

Yes, and lots rarely leave their Marina

wizzzard · Post by **wizzzard** » Mon Dec 10, 2018 9:38 am

Pivot wrote: ↑Mon Dec 10, 2018 8:13 am I suspect that the sales guys and gals are incentivised to sell financial product while they push tin. It helps them to move more stock and earn better wages... oh well, none of us are complaining, it is entirely our call how we finance our shiny objects.

Getting a buyer to choose finance for a new car gives a better commission rate to the seller and the garage. It's all about the commission for them.

Sell a car: get 40% of your target (for a vehicle)
Sell optional extras: get another 20%
Sell Finance with it, get another 30%
Sell wheel, body and GAP, get another 10%

If you're the buyer that gets all of the above, you've pretty much let the salesperson have their way with you. Then again, you may prefer that approach and not mind bending over in the slightest....

Re the OP's comments, the longest time I have kept my car for is 3 years - mostly because I used to lease them.

Col M · Post by **Col M** » Mon Dec 10, 2018 2:18 pm

Caster wrote: ↑Sun Dec 09, 2018 11:08 pm "When I was a lad" I used to eek every last mile out of my motors - often spending more time under the bonnet than I did in the driver's seat - until they simply wouldn't go anymore or crumbled into a pile of rust etc. So, I guess I'd have agreed with you then that 3-4 years wasn't enough.

Nowadays, at my age, I've only got a few more motors to be able to enjoy driving + nowt better than changing every 3-4 years at most (often less) to enjoy as many more as I can + I don't have to get bonnet up any more!

Is not getting the bonnet up anymore a euphemism?

Deleted User 1874 · Post by **Deleted User 1874** » Mon Dec 10, 2018 2:21 pm

Pivot wrote: ↑Sun Dec 09, 2018 6:21 pm 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]

Nah, the salesman is just thinking purely about his commission from selling you the finance. Last time they convinced me to take out the finance anyway and then cancel it the next day. I can't say I was impressed with this kind of nonsense.

nozydog · Post by **nozydog** » Mon Dec 10, 2018 5:02 pm

Peteski wrote: ↑Sat Dec 08, 2018 4:25 pm 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!

He's clearly no accountant then!! I've done the maths on lease/lease purchase deals and with a Macan it will actually end up costing hundreds more a month than buying outright!! Example: £60k cash purchase should be worth around £42k (trade) after 3 years (I've heard people say that's ambitious but it really isn't according to all the valuation guides) that's cost you £18k depreciation = £500 a month!

Look at lease deals on a Macan S and you'll be paying over £800 a month (taking into account the initial rental deposit)! So you end up paying around 50% of the cost of the car, and not even owning it (unless you're willing to pay a huge balloon payment at the end)

Fact is though, most can't afford to buy outright, but in my book you'd still be better off getting a low rate personal loan rather than leasing! Leasing is only worth doing with run of the mill cars like say BMW 3 series' etc which can be had at ultra cheap lease rates!

Sell or Hold

Porsche Macan Owners Club

Follow Porsche Macan Forums