991.1 GTS Purchase

[mikeh501]

Hey all,

First porsche purchase on the go. Im very nearly going to press the button on it. Following a test drive of the 2S I was grinning like a cheshire cat and cant get it out of my head lol.

3 questions for the porsche veterans on here

1. Im thinking residuals on a GTS will be fairly safe, and better than a Carrera 2S? probably the smarter money?

2. The car is this one, thoughts? it has centrelocks, alcantara, decent enough colour, 18ways, PSE, and sport chrono. Anything missing from this car you wouldnt buy one without? I havent really looked at anything else, nor taken a huge look at the market (mainly because upto my test drive, I thought i was looking at a 55-60k 911.1 C2, not a GTS)
http://locator.porsche.com/ipl-customer/ipl/detail...

3. Porsche are offering 6.9% APR PCP on a 2014 GTS @ 85k. Residual of 49k after 3 years. Payments are £650 p/m (30k deposit). Is this the cheapest way of doing it? Instead of this where could I get a 50k personal loan you think for 2.9% or similar? Zopa are doing 2.9 but only upto 25k which I assume if the max for an unsecured loan? How do these so called supercar finance places work, any experience?

cheers

mike

[Phooey]

Just had a verrrrry quick look for you and my 2p is the £82900 East London car looks better vfm (to me). Equally though both look very nice, great colour, and worth the extra £ over a C2S. Residuals are good for the GTS

[OhThatHurtAbit]

Are manual 991 GTS rare and worth more or less?

[ellroy]

Got a 991.1 GTS a week ago and what a brilliant thing it is. If you can afford it definitely get it over the S! Did I say get it?

That said, spec is always very personal, use as well as preference always being impactful. I’d have preferred a manual, but they’re thin on the ground and the one I picked up was specced to high heaven, so a compromise to some extent, which is always the case with 2nd hand.

[ellroy]

OhThatHurtAbit said:

Are manual 991 GTS rare and worth more or less?

2: 34 with Porsche at the minute, prices look to be similar, spec/mileage are all very different so hard to make a clear distinction at the minute. I’d guess in years to come the manual would hold the value better on the basis of rarity.

[Frrair]

Hey Mike

I have had my brand spanking new 911 GTS nearly a month now. I went very easy on the box ticking and mine was less than £15k more, Carmine red, manual 2 WD.

Have a play on the new car configurator and see what you get to, it might be very good option to consider.

Good luck
Ed

[ellroy]

No more 2wd or manuals available to order once the factory reopens.

[mikeh501]

i was told there is no possiblilty to get a new one ordered right now by the dealer yesterday.

[Swimfinz]

OhThatHurtAbit said:

Are manual 991 GTS rare and worth more or less?

Rarer and worth more...

Your prospective car is still a nice deal, but personally would look for a manual car with buckets.... A spec that will hold firm in time to come.... Last of the N/A GTS cars, with the increasingly rare manual to boot.... Future classic imho.... Good luck finding one though...!

[mikeh501]

pretty sure i want pdk, but buckets would be awesome. guessing they will be impossible to find!

[Swimfinz]

mikeh501 said:

pretty sure i want pdk, but buckets would be awesome. guessing they will be impossible to find!

Plenty with PDK, but yes, buckets more rare.... They do pop up though: not so much on the OPC network though.... Depends how patient you are....

[RT964]

mikeh501 said:

Hey all,

First porsche purchase on the go. Im very nearly going to press the button on it. Following a test drive of the 2S I was grinning like a cheshire cat and cant get it out of my head lol.

3 questions for the porsche veterans on here

1. Im thinking residuals on a GTS will be fairly safe, and better than a Carrera 2S? probably the smarter money?

2. The car is this one, thoughts? it has centrelocks, alcantara, decent enough colour, 18ways, PSE, and sport chrono. Anything missing from this car you wouldnt buy one without? I havent really looked at anything else, nor taken a huge look at the market (mainly because upto my test drive, I thought i was looking at a 55-60k 911.1 C2, not a GTS)
http://locator.porsche.com/ipl-customer/ipl/detail...

3. Porsche are offering 6.9% APR PCP on a 2014 GTS @ 85k. Residual of 49k after 3 years. Payments are £650 p/m (30k deposit). Is this the cheapest way of doing it? Instead of this where could I get a 50k personal loan you think for 2.9% or similar? Zopa are doing 2.9 but only upto 25k which I assume if the max for an unsecured loan? How do these so called supercar finance places work, any experience?

cheers

mike

Hi Mike,

Great choice of car. I bought one on Thursday and can’t wait to pick it up in a couple of weeks. To help in your thought process, have you looked at the Solihull car - similar money, but better spec than the Wilmslow car. Also the one in Exeter is a good price for the spec, albeit silver instead of red. For a little bit more, there is a white one at Porsche South London that only has 6k miles - I drove it and was very impressed, but it lacked the sunroof option, which was a must have for me.

On that topic, you’ll get lots of different opinions on here (many saying get a manual !), but a spec is a very personal thing, so work out what is a must have, and what you’re willing to compromise on. FYI, PASM, Sport Chrono and PSE are standard on a GTS.

On the finance front, the deal you’ve been offered has an attractive APR for a pcp, however my concern is that you’re going to lose a chunk of your £30k deposit after 3 years, as the car is likely to fall in value by more than £6k. Iif this is what you plan for, then that’s fine.

I played with lots of numbers and different deals and ended up going for a smaller deposit, a higher monthly and a lower residual, which means the car I bought can depreciate by almost £18k over 3 years and I’ll still walk away with my deposit and interest payments. Happy to share more detailed numbers over pm if you want.

Cheers,

Richard

[mikeh501]

Thanks, the finance is one thing I’m not sure about. Like you say the deposit is the first thing to go during depreciation. Toying with the idea of just buying cash, dunno. I’ve waiting on a call from oracle and another one and see what they can do.

If I could get a 50k loan at 2,9 I’d probably do that. Zopa do one, but only upto 25k.

As for the other cars I’ll take a look. Couldn’t cope with a white one, and the Solihull car appears gone, unless your talking about the black one but it’s 105k

[Cheib]

Manual is rare enough but manual with buckets will be very,very rare. I’d doubt there would be 10 cars in that spec in the country. You could be waiting an awfully long time before a car in that spec comes up. My OPC did spec it’s 991.2 GTS demo in that spec and was great to drive but a lot of people want a GTS as a daily and don’t want buckets because of that.

[Maxym]

That Carmine Red one looks a bit poverty spec.

[RT964]

mikeh501 said:

Thanks, the finance is one thing I’m not sure about. Like you say the deposit is the first thing to go during depreciation. Toying with the idea of just buying cash, dunno. I’ve waiting on a call from oracle and another one and see what they can do.

If I could get a 50k loan at 2,9 I’d probably do that. Zopa do one, but only upto 25k.

As for the other cars I’ll take a look. Couldn’t cope with a white one, and the Solihull car appears gone, unless your talking about the black one but it’s 105k

Yep, you're right, the Solihull car has gone (was there on Saturday !), but there are some others out there that aren't "poverty spec". If you like red, then the Guildford car is very nice, albeit a bit more money, and lower miles. Ask for Ed down there - he was really helpful when I was working out which car I wanted (was toying with either a gen 1 or gen 2 car, so he let me take both out to confirm which way to go). The Wolverhampton car has been there for ages (maybe since Xmas), but has 30k miles on it, which makes it quite high mileage for it's age. If you fancy a cab, the one at Porsche West London has been in their showroom since around Oct according to one of the salespeople there, so there could be a deal to be done ! Going outside the OPC network, looking at cars that I know are still for sale (at least they were at the end of last week ), the black one at Silverleaf looks very good with a nice spec and still under Porsche warranty. JZM also have a black one that's under Porsche warranty. Both places have had those cars for at least 6 weeks, and the JZM one looks like too much money compared to what else is out in the market.

From a resale perspective, the dealers I spoke to all made reference to the upgraded GTS interior (with either red or silver stitching) as a "must have". After that, it's up to you as to what other things are "must have" - Bose, adaptive seats, dimming mirrors, LED lights, sunroof are all good to have, but as I said earlier, only you can decide what is "must have" and what is "nice to have".

From a finance perspective, the cheapest way to buy the car is paying cash. If there is a better deal to be done by taking the dealer's finance, then take the finance and then pay it off after the minimum period. If you are looking longer term, then you need to decide what is more important to you - the size of the monthly payment or the size of your deposit (and then how much of that you could get back when you sell the car). I've used Oracle before and they were very good. Was quoted 5.3% on a 4 year HP deal by someone else (which Oracle couldn't beat), and you may be able to better that APR by talking to your bank ?

For me, I wanted to protect my deposit, and worked out a deal that was £23k in, £37k balloon, and £9k interest against an £87k car. This means that, after 3 years, as long as the car is worth more than £69k, then I've got my deposit and interest payments back out of the car, and the monthly payments have just been covering the capital depreciation. Will these cars depreciate by £6k a year ? Who knows ... the only thing I can tell you is that, from the research I did 18 months ago, the price for a Gen 1 was mainly between £90k and £95k. It's now mainly between £85k and £90k.

Apologies for the lengthy post, the most important thing is to enjoy the search - there is a reasonable selection of cars out there, so enjoy picking and choosing !

Cheers,

Richard

[Porsche911R]

mikeh501 said:

Hey all,

How do these so called supercar finance places work, any experience?

yes their % is high I found, I guess it's a business and they can ask a bit over OPC % rates.

house remortgage is the cheapest way if you are strict and pay it off within 5 years or when you sell the car in 3.

or a 5 year loan at Tesco if you can fund the difference but their % rate jumps above £25k to 6.9 from 3.1.

funding a item which is dropping in price day on day is never ideal and a PCP is the most expensive way to fund a car as you never pay the balloon off but pay the % on it for the term.

only you know if the car is worth that much to own and run at what £480 a month interest alone ! if you give it back after 3 years it will have cost you £1.5k a month to fund it.

there is no right and wrong way to fund as people say they make more than £480 a month if they were to buy the car out right, it's a forum favorite how easy every one can invest and make £1000's :-) and that's why they have a PCP.

finance companies are a business so not a lot I can say about them.

[mikeh501]

Thanks, the finance is one thing I’m not sure about. Like you say the deposit is the first thing to go during depreciation. Toying with the idea of just buying cash, dunno. I’ve waiting on a call from oracle and another one and see what they can do.

If I could get a 50k loan at 2,9 I’d probably do that. Zopa do one, but only upto 25k.

As for the other cars I’ll take a look. Couldn’t cope with a white one, and the Solihull car appears gone, unless your talking about the black one but it’s 105k

[Porsche911R]

mikeh501 said:

Thanks, the finance is one thing I’m not sure about. Like you say the deposit is the first thing to go during depreciation. Toying with the idea of just buying cash, dunno. I’ve waiting on a call from oracle and another one and see what they can do.

If I could get a 50k loan at 2,9 I’d probably do that. Zopa do one, but only upto 25k.

As for the other cars I’ll take a look. Couldn’t cope with a white one, and the Solihull car appears gone, unless your talking about the black one but it’s 105k

when you are paying £500 a month interest on any thing like £70k it adds up to a lot of lost money.

but some say it's worth it some say they can make that back no problem. (the bull stters)

Some just want the car at any price and happy to pay £1.5k a month to rent a car.

you are not going to get 2.9% on £50k unless you release money from a house.

If you have the cash just buy it, no point looking at finance imo.

Edited by Porsche911R on Monday 9th April 18:03

[Swimfinz]

mikeh501 said:

As for the other cars I’ll take a look. Couldn’t cope with a white one, and the Solihull car appears gone, unless your talking about the black one but it’s 105k

The Solihull car is a 991.2– saw it the other day....

Edit: just checked the OPC Approved list— there’s a LOT of these about at the moment (although ZERO manuals in the 991.1 model....!!)

Edited by Swimfinz on Monday 9th April 18:03