Porsche Cayman GT4 trade in finance options

[dysart200]

Looking for some advice. My GT4 spec is going to be locked in around the middle of January and I am starting to look at finance options available to me. I'm most likely going to be trading my 981 S in with the OPC that I am getting the GT4 from. Depending on how much the OPC is going to give me for my S, I expect I'll be needing around 64k finance. I know I got shafted on finance from OPC on S as I'm sure APR is around 10%!! Was my first purchase of a new car and wasn't very clever! Anyway, after reading threads on here and looking at finance on Porsche website, it looks like I should be able to get around 7%. However, I can get a personal loan up to 25k with a far better rate. I was thinking of taking that loan and therefore only needing 39k finance from Porsche. Looking at the finance example on website, it looks like they will only allow you to have deposit up to 25% of total value. Does this apply to all finance options as I'm looking to set it up so that there is no balloon payment or final payment? I am actually intending on paying all finance off 2 years in, as I'm expecting a lump of cash at that point. For this reason, need to take into account early repayment charges as well. All very complicated, any advice would be welcome.

[tyrrell]

Just used Lombards on my GTS managed 4.81% fixed over 4 years, OPC could not get close as you already know.

[Boggle73]

That's a good rate, any chance of a contact please.

[dysart200]

Nice one, I'll check them out

[mollytherocker]

It still shocks me that people pay 10% APR financing cars. But most dont give a crap and pay it every day.

My understanding is that most dealers and car companies make more money from financing than the cars themselves!

[apachesmith]

I'm getting a very low rate (think mortgage APR values), If you private message me I'll send you the details of the company sorting mine out, I also couldn't believe the APR's the OPC's where offering so a friend put me on to this company who he has used for years. I was truly gob smacked at the difference in cost!

[apachesmith]

Also, early repayment charges are next to nothing, the max they can charge is 58 days worth of interest, on 64k that's a few hundred pounds! you can bin it off at any time with that as the maximum penalty.

I'm also looking at 25% deposit over 2 years and I'm guessing the repayments I'm looking at would be a fair bit lower than your S was!

[dysart200]

mollytherocker said:

It still shocks me that people pay 10% APR financing cars. But most dont give a crap and pay it every day.

My understanding is that most dealers and car companies make more money from financing than the cars themselves!

Yeah, I expect they do! We live and learn I suppose. That's why I'm putting the time in to make sure I don't balls up on GT4

[jcosh]

apachesmith said:

I'm getting a very low rate (think mortgage APR values), If you private message me I'll send you the details of the company sorting mine out, I also couldn't believe the APR's the OPC's where offering so a friend put me on to this company who he has used for years. I was truly gob smacked at the difference in cost!

I will PM you if that's ok as I am currently trying to decide on funding options for a hopeful GT4 purchase.

[apachesmith]

jcosh said:

apachesmith said:

I'm getting a very low rate (think mortgage APR values), If you private message me I'll send you the details of the company sorting mine out, I also couldn't believe the APR's the OPC's where offering so a friend put me on to this company who he has used for years. I was truly gob smacked at the difference in cost!

I will PM you if that's ok as I am currently trying to decide on funding options for a hopeful GT4 purchase.

No problem, had a couple already!

Merry Christmas

[av185]

mollytherocker said:

My understanding is that most dealers and car companies make more money from financing than the cars themselves!

Very true and that was the great and infamous Carcraft business model which worked very successfully for them for numerous years....until they went belly up....

[n17ves]

I believe Porsche are offering 7.1% Apr on all the GT4's....well that's what they told me anyway. And although the rate is set, you can negotiate extras if you tell them you can get a better rate elsewhere.