Porsche Solutions vs Lease Purchase

[FarzyB]

Speaking to OPC Leeds today, they tell me these are, for all practical purposes, the same in terms of features and flexibility. The main difference is that Lease Purchase does not have a guaranteed future value, but since this is set so low on PCP financing, perhaps this makes little difference anyway? Has anyone had a different/worse experience with one or the other? I don't intend to keep the car at the end - will either part exchange it or give it back, depending on my situation then.

[FarzyB]

Thanks guys. I am not too concerned about the end value as the "guaranteed future value" will be presumably be set so low as to hardly transfer any real risk to Porsche, especially given how few Caymans there are compared to Boxsters, etc. My concern now is whether on a p/x of a lease purchase car whether I would have to make the final payment whilst I'm waiting for the dealer to sell the car (and I have, in the meantime, taken on a new car). I'm not sure how p/x (whether the next car was a Porsche or not), so please feel free to set me at ease/caution me!

One other thing: as to the point about returning the car if half the payments are made: does this mean that any equity built up is forfeited, or does the finance company recognise that and make any sort of payment to the customer for that? Again, forgive me if I'm being naive….!

[FarzyB]

Thanks for the answers - very helpful!

From my research it looks like if you are to p/x a car which has outstanding finance - whether under solutions or a lease purchase scheme - you have to repay the financing in full yourself before you can do the p/x. Is this correct even if it's a p/x with Porsche? Apparently 4 out of 5 people don't use the option to purchase at the end of their finance and presumably p/x the car? If this is the case, it seems that Solutions financing isn't really all that more flexible than a lease purchase!

[FarzyB]

MrTickle said:

FarzyB said:

Thanks for the answers - very helpful!

From my research it looks like if you are to p/x a car which has outstanding finance - whether under solutions or a lease purchase scheme - you have to repay the financing in full yourself before you can do the p/x. Is this correct even if it's a p/x with Porsche? Apparently 4 out of 5 people don't use the option to purchase at the end of their finance and presumably p/x the car? If this is the case, it seems that Solutions financing isn't really all that more flexible than a lease purchase!

If p/x with a dealer, no need to pay off first, they just offset the p/x value with the settlement figure.

If you want to private sell, then you need to clear the loan before the sale, or get the buyer to pay off the loan at the time of sale with a debit card or CHAPS and give you the difference - but some private buyers get very nervous at this so it can make it more difficult to sell.

OK, and presumably p/x can be done at any time during a purchase lease? Would this also be the case if the p/x were not with a Porsche dealer (eg BMW, etc)?