2022 Macan Build Dates
There is an element of truth here on PCP with a Porsche
The PCP effectively has an insurance product in it ie you are paying to have the option of walking away if the finance end up upside down
The only car I finance is the Dog's car because in my mind it is disposable commodity. Before the Seat we had two Nissan Leafs (one after the other). Both £30k spec. I can't remember which one (but they were both bad) but I think after 3 years the final payment was £12k. I tried to part-ex it and was offered £8k! No problem. Let Nissan just take it back with no penalty to me.
With Porsche I doubt you are ever going to end up upside down - unless you order Mamba/Python/or the new orange
If finance is needed I would look at straight HP or one with a balloon at the end but not PCP
The PCP effectively has an insurance product in it ie you are paying to have the option of walking away if the finance end up upside down
The only car I finance is the Dog's car because in my mind it is disposable commodity. Before the Seat we had two Nissan Leafs (one after the other). Both £30k spec. I can't remember which one (but they were both bad) but I think after 3 years the final payment was £12k. I tried to part-ex it and was offered £8k! No problem. Let Nissan just take it back with no penalty to me.
With Porsche I doubt you are ever going to end up upside down - unless you order Mamba/Python/or the new orange
If finance is needed I would look at straight HP or one with a balloon at the end but not PCP
On order
GT4 RS
Current
992 S
Macan.2 S
928S4
Modified Lotus Exige V6
Seat Ibiza 1.0 (115ps) DSG Excellence Lux(dog’s!)
Jag Mk2 3.4
Ex
981 Boxster S
GT4 RS
Current
992 S
Macan.2 S
928S4
Modified Lotus Exige V6
Seat Ibiza 1.0 (115ps) DSG Excellence Lux(dog’s!)
Jag Mk2 3.4
Ex
981 Boxster S
ThanksDickies16V wrote: ↑Mon Jul 26, 2021 11:17 pm With cars on PCP you are not in charge of your own destiny. I want to change my car when i want to change it, i will do whatever mileage in it i wish and without the worry of excess mileage charges at the end of the term. PCP is easier on cashflow, that's why its popular, but it is not the the most cost effective way to "have use of" a car, especially if, like me, you will keep it more than three years, This is even more true of a Porsche as they hold their value very well in the early years. Remember, finance companies exist because they make a profit by buying the car themselves and then renting it to somebody who will end up paying more in rentals than the car will depreciate over the rental term, even when factoring in the interest charges. Manufacturers love it because it gives them a constant supply of buyers for their products every 2-4 years (when their existing period ends and they have to give their current car back) and the stealers get a nice kick back from the finance company when a plan is taken out. Stealers hate me as i will never take out their finance packages - i put it on my flexible mortgage and pay 2% interest - they can't get anywhere near that! Also, i have a car with no finance recorded against it, and can do with it as i please, and pay down the (cheap) borrowed money on my terms. Happy days!
That’s interesting, would love to hear more about this flexible mortgage?
Is that a mortgage for your home that you can add a car to!?
Very interesting way of looking at this! Thanks for sharing! I do understand this perspective and I get PCP in long term is not cost effective but you are right it is easier on cashflow. I took a view with the money upfront I dont have to pay in one go, I take that (theoretical) pot of money and invest it. That is probably the narrative all dealers give! But I also trade Forex as supplementary to my main job so I keep funds in there to help me build fundsDickies16V wrote: ↑Mon Jul 26, 2021 11:17 pm With cars on PCP you are not in charge of your own destiny. I want to change my car when i want to change it, i will do whatever mileage in it i wish and without the worry of excess mileage charges at the end of the term. PCP is easier on cashflow, that's why its popular, but it is not the the most cost effective way to "have use of" a car, especially if, like me, you will keep it more than three years, This is even more true of a Porsche as they hold their value very well in the early years. Remember, finance companies exist because they make a profit by buying the car themselves and then renting it to somebody who will end up paying more in rentals than the car will depreciate over the rental term, even when factoring in the interest charges. Manufacturers love it because it gives them a constant supply of buyers for their products every 2-4 years (when their existing period ends and they have to give their current car back) and the stealers get a nice kick back from the finance company when a plan is taken out. Stealers hate me as i will never take out their finance packages - i put it on my flexible mortgage and pay 2% interest - they can't get anywhere near that! Also, i have a car with no finance recorded against it, and can do with it as i please, and pay down the (cheap) borrowed money on my terms. Happy days!
Macan GTS on order: http://www.porsche-code.com/PPDF6163
Ordered 25th Aug 2021 - Build slot August 2022, Landed in OPC - 29th September 2022 - Collected 29th November 459 days since ordering!
Ordered 25th Aug 2021 - Build slot August 2022, Landed in OPC - 29th September 2022 - Collected 29th November 459 days since ordering!
Very interesting way of looking at this! Thanks for sharing! I do understand this perspective and I get PCP in long term is not cost effective but you are right it is easier on cashflow. I took a view with the money upfront I dont have to pay in one go, I take that (theoretical) pot of money and invest it. That is probably the narrative all dealers give! But I also trade Forex as supplementary to my main job so I keep funds in there to help me build funds
[/quote]
Im the same, I invest my car money and take PCP. I have done ok with this method over the last 4 years. I have also been given a good part exchange cost for my 2 year old Macan gen 2 to spec the gen 3
[/quote]
Im the same, I invest my car money and take PCP. I have done ok with this method over the last 4 years. I have also been given a good part exchange cost for my 2 year old Macan gen 2 to spec the gen 3
2019 Gen 2, Macan base, dolomite silver.
2022 Gen 3 GTS Volcano Grey
2022 Gen 3 GTS Volcano Grey
Yes I meant HP with ballon but no guarantee and therefore cheaperOmniCognateSnr wrote: ↑Tue Jul 27, 2021 7:47 amPCP does have a balloon at the end.Tracky wrote: ↑Tue Jul 27, 2021 6:46 am There is an element of truth here on PCP with a Porsche
The PCP effectively has an insurance product in it ie you are paying to have the option of walking away if the finance end up upside down
The only car I finance is the Dog's car because in my mind it is disposable commodity. Before the Seat we had two Nissan Leafs (one after the other). Both £30k spec. I can't remember which one (but they were both bad) but I think after 3 years the final payment was £12k. I tried to part-ex it and was offered £8k! No problem. Let Nissan just take it back with no penalty to me.
With Porsche I doubt you are ever going to end up upside down - unless you order Mamba/Python/or the new orange
If finance is needed I would look at straight HP or one with a balloon at the end but not PCP
Mark can go through the options with you
On order
GT4 RS
Current
992 S
Macan.2 S
928S4
Modified Lotus Exige V6
Seat Ibiza 1.0 (115ps) DSG Excellence Lux(dog’s!)
Jag Mk2 3.4
Ex
981 Boxster S
GT4 RS
Current
992 S
Macan.2 S
928S4
Modified Lotus Exige V6
Seat Ibiza 1.0 (115ps) DSG Excellence Lux(dog’s!)
Jag Mk2 3.4
Ex
981 Boxster S
As it ‘appens I am talking to him this morning, so I’ll definitely ask the question. Ta.Tracky wrote: ↑Tue Jul 27, 2021 7:52 amYes I meant HP with ballon but no guarantee and therefore cheaperOmniCognateSnr wrote: ↑Tue Jul 27, 2021 7:47 amPCP does have a balloon at the end.Tracky wrote: ↑Tue Jul 27, 2021 6:46 am There is an element of truth here on PCP with a Porsche
The PCP effectively has an insurance product in it ie you are paying to have the option of walking away if the finance end up upside down
The only car I finance is the Dog's car because in my mind it is disposable commodity. Before the Seat we had two Nissan Leafs (one after the other). Both £30k spec. I can't remember which one (but they were both bad) but I think after 3 years the final payment was £12k. I tried to part-ex it and was offered £8k! No problem. Let Nissan just take it back with no penalty to me.
With Porsche I doubt you are ever going to end up upside down - unless you order Mamba/Python/or the new orange
If finance is needed I would look at straight HP or one with a balloon at the end but not PCP
Mark can go through the options with you
Im the same, I invest my car money and take PCP. I have done ok with this method over the last 4 years. I have also been given a good part exchange cost for my 2 year old Macan gen 2 to spec the gen 3BCR1970 wrote: ↑Tue Jul 27, 2021 7:19 am Very interesting way of looking at this! Thanks for sharing! I do understand this perspective and I get PCP in long term is not cost effective but you are right it is easier on cashflow. I took a view with the money upfront I dont have to pay in one go, I take that (theoretical) pot of money and invest it. That is probably the narrative all dealers give! But I also trade Forex as supplementary to my main job so I keep funds in there to help me build funds
[/quote]
Still think cash is best way to buy if you have it.
I bought a Macan 3 years ago for £57K and selling it for £43k - so its only cost me £14k over a 3 year period. If i'd bought the same car on PCP the dealer asked for a £6k deposit plus £8k per year in PCP payments (so in total that's £30k over 3 years (deposit + pcp payments).
So in summary i've ended up taking a hit for £14k (depreciation) versus £30k if i'd gone down the PCP route... so saved about £16k over 3 years (i.e. £440 per month)! If i'd invested that money instead of putting it into a car, im not sure i'd have made £440 per month. So i always buy cars in cash now.
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