Looking for a cheap finance APR for my new 991 Turbo?

[SnoopD]

Hi folks

Having financed most of my cars over the years I believe I've always got a decent finance rate however this time round with the base rate so low, I'm not convinced the best rate I've negotiated with my OPC for my March delivery 911 Turbo is low enough?

I've got Porsche Finance down to a flat rate of 3.7% so APR of approx 7.3% for HP with a balloon. (Had to be referred to secure this rate). I appreciate many finance rates with a balloon are easily north of 9-10% APR so has anyone managed to secure a rate lower than this with an outside finance company please? If so which company did you go to?

Thanks

S

[kand300]

I used Jamie Garside at Eurolease when I bought my 991 Turbo in October. He got me a better deal than my OPC.

[SnoopD]

Thanks for the recommendation. I see they have a branch local to me so I will call them tomorrow 😊

[Adam B]

Do you want to hand it back after the loan period. If not why not use mortgage? I recently got base +1.29% no fees or early repayment charge

[PorscheGT4]

The above, finance it yourself with your house, it's far cheaper.

[SnoopD]

Yes using the mortgage is a cheaper deal & I did that on my last car, but ties up my useable cash so need to stick to car finance but can claim most of it back through the business, so actually a higher APR (car finance vs mortgage) isn't a problem. Just want to check ive got the lowest APR going down this route.

[IMIA]

Worth emailing this fellow for a quote. Oracle were by far the cheapest last time I bought a new Porsche albeit in 2007! They recently offered me a £500,000 facility at just under 5% APR . Sadly I did not have the bottle to buy a £500,000 car on the drip lol. Would have been fun though!

[e-mail]

Edited by IMIA on Tuesday 3rd February 12:23

[kand300]

You also need to factor in If financing with PCP that OPC will give you a higher balloon figure than other providers. When I bought mine the difference was approx 10k. In the end Jamie managed to match OPC balloon figure.

[SnoopD]

Thanks chaps. I tried Oracle last time & they were quite a bit more on the APR but will check & also check balloons although I was told the balloons aren't as higher as they used to be.

[FrankAbagnale]

I recently got quotes from a few companies, and Richard Foster (PH member) was very helpful and by far the most competitive. Also, didn't give it the hard sell which was refreshing.

[e-mail]

Worth a go.

[SnoopD]

Thanks Frank. Will try him too

[w5pwr]

I just got a deal with Barclays Partner Finance on my recent Porsche purchase of 4.6% APR over 48 months, which I think is 2.19% flat.

The rate was only obtainable through a broker.....

[SnoopD]

Wow w5pwr I've never seen a rate that low! Do you have a contact for a broker? If not, as I bank with Barclays, I can make some calls to see if I can get a rate that low

[w5pwr]

SnoopD said:

Wow w5pwr I've never seen a rate that low! Do you have a contact for a broker? If not, as I bank with Barclays, I can make some calls to see if I can get a rate that low

Mann Island Finance, the deal needs to arrange through your dealer.....

[SnoopD]

Thanks again

[terryb]

Another vote here for Jamie Garside - he's worth speaking to directly - one thing to check when considering different finance options is whether the deal is regulated or non regulated.

[SnoopD]

Thanks TerryB. Yep agreed re regulated or not. I've had both over the years & yes I need to bare in mind interest rates are likely to rise at least 1% over the next 2-3 years which would affect the latter if it's a variable rate finance deal.

[rosino]

You can bully your OPC to come down to 6.0 APR fix.

Not seen any lower than that around.

[kayc]

Surely cheaper to use ones own cash?

[Lightningman]

rosino said:

You can bully your OPC to come down to 6.0 APR fix.

Not seen any lower than that around.

Have you achieved this or you believe you could?