Advice for a new Porsche owner!
Discussion
Dear all,
Just wanted to say hello and get some general advice from you seasoned porsche owners! I test drove a 718 cayman 2.0 PDK and absolutely fell in love with the precision of the car! I've only had a mini cooper and BMW 420d so never had the pleasure of such fantastic engineering. I have just put my deposit down for a new 718 Cayman and of course I'm very excited! I have never owned a Porsche before and quite frankly didn't think I was ready to own one yet! However with the base Cayman 2.0 list of £43k it has become within my grasp with some very careful (not picking any) options selection and a deposit contribution from Porsche finance has meant it's possible.
I currently have a BMW 420d on 2 year PCP £3k deposit and £360pm. I've taken a hire purchase on the 718 over 3 years and somehow the costs aren't too different - £5k deposit and £450pm. Not too great on fully understanding the different types of finance options available but I just see it as something I can afford and am happy to give it back at the end of the term (or so I think now, maybe I'll want to keep it by the end!).
This is my only and therefore my daily car, I've been reading some threads about 20" and not having PASM which has got me a little worried but the build isn't spec changeable anymore so its done! Since its my daily and I live/work in London I needed PDK other than that I really had to keep the spec quite low to keep within my budget so it is as follows:
- Graphite Blue Metallic
- Agate Grey Interior (I hate black interiors)
- Model deletion
- Park Assist (rear)
- PDK
- 64l fuel tank
- 20 inch Carrera Classic wheels
- Cruise Control
- Seat Heating
I'm not really sure what I'm expecting in the way of responses but I can't really talk about it with my friends/colleagues because I feel like it may come across as bragging etc. I am just very excited and would love to get some advice/tips or just talk all things porsche? Maybe there is lots of handy advice that I can't just google that you guys can only having known from being owners for years. If not, well..... hello, I guess!
Just wanted to say hello and get some general advice from you seasoned porsche owners! I test drove a 718 cayman 2.0 PDK and absolutely fell in love with the precision of the car! I've only had a mini cooper and BMW 420d so never had the pleasure of such fantastic engineering. I have just put my deposit down for a new 718 Cayman and of course I'm very excited! I have never owned a Porsche before and quite frankly didn't think I was ready to own one yet! However with the base Cayman 2.0 list of £43k it has become within my grasp with some very careful (not picking any) options selection and a deposit contribution from Porsche finance has meant it's possible.
I currently have a BMW 420d on 2 year PCP £3k deposit and £360pm. I've taken a hire purchase on the 718 over 3 years and somehow the costs aren't too different - £5k deposit and £450pm. Not too great on fully understanding the different types of finance options available but I just see it as something I can afford and am happy to give it back at the end of the term (or so I think now, maybe I'll want to keep it by the end!).
This is my only and therefore my daily car, I've been reading some threads about 20" and not having PASM which has got me a little worried but the build isn't spec changeable anymore so its done! Since its my daily and I live/work in London I needed PDK other than that I really had to keep the spec quite low to keep within my budget so it is as follows:
- Graphite Blue Metallic
- Agate Grey Interior (I hate black interiors)
- Model deletion
- Park Assist (rear)
- PDK
- 64l fuel tank
- 20 inch Carrera Classic wheels
- Cruise Control
- Seat Heating
I'm not really sure what I'm expecting in the way of responses but I can't really talk about it with my friends/colleagues because I feel like it may come across as bragging etc. I am just very excited and would love to get some advice/tips or just talk all things porsche? Maybe there is lots of handy advice that I can't just google that you guys can only having known from being owners for years. If not, well..... hello, I guess!
Thank you!
Sorry yes there is a £31k balloon payment option at the end of the term but I'll probably just give it back and move onto the next car! Until I find a car I want to own forever I'll just keep doing HP. PCP was coming out to £900pm with a £5k deposit for the same spec so HP was a no brainer.
Sorry yes there is a £31k balloon payment option at the end of the term but I'll probably just give it back and move onto the next car! Until I find a car I want to own forever I'll just keep doing HP. PCP was coming out to £900pm with a £5k deposit for the same spec so HP was a no brainer.
It sounds like you've got HP and PCP mixed up? PCP has an optional balloon, HP doesn't usually.
At £900 that's not enough to buy it outright though either.
EDIT - just Googled and it looks like you have a BHP (balloon hire purchase). The £31k is NOT optional and you CANNOT hand the car back at the end. I think you need to reconsider your finance choice!
At £900 that's not enough to buy it outright though either.
EDIT - just Googled and it looks like you have a BHP (balloon hire purchase). The £31k is NOT optional and you CANNOT hand the car back at the end. I think you need to reconsider your finance choice!
Edited by Twinfan on Sunday 4th March 19:27
Why would someone go with a Balloon Hire Purchase over a PCP? Am I missing something, yes you own the car outright at the end but you can with a PCP so what is the benefit there? I've always done PCP and paid it outright before the term is up but if my investments didn't pan out i'm protected. Maybe staying up all night to watch boxing has made my brain incapable of seeing something obvious?
I've just put the above specced base 718 into the configurator and these are the figures that come out for a PCP. I don't know where the OP got £900 a month from, it's £540 for 3 years and 10k miles:
Solutions example from Porsche Financial Services based on 10,000 miles per annum for Porsche 718 Cayman
Your selected values
Customer Deposit: £ 5,000.00
Annual Mileage: 10,000
Duration (Months): 36
Finance Example
Deposit Contribution £ 1,000.00
Total Deposit £ 6,000.00
35 payments of £ 539.02
Final payment £ 30,717.85
Total Amount Payable £ 55,593.55
Total amount of credit £ 42,719.00
APR 6.4 % APR
Rate of interest 6.40 % fixed
Excess Mileage 16.80p per mile
Solutions example from Porsche Financial Services based on 10,000 miles per annum for Porsche 718 Cayman
Your selected values
Customer Deposit: £ 5,000.00
Annual Mileage: 10,000
Duration (Months): 36
Finance Example
Deposit Contribution £ 1,000.00
Total Deposit £ 6,000.00
35 payments of £ 539.02
Final payment £ 30,717.85
Total Amount Payable £ 55,593.55
Total amount of credit £ 42,719.00
APR 6.4 % APR
Rate of interest 6.40 % fixed
Excess Mileage 16.80p per mile
Edited by Twinfan on Sunday 4th March 19:57
Hi OP. Like the other guys have said check the finance and ask the dealer questions to make sure that the product is right for you and you can hand it back after 3 years if you want/need.
The other thing you may want to do is look at dealer stock and pre registered cars. The 718 isn’t holding its money very well and there is a LOT of stock in the dealer network (I reckon my OPC has 10-12 718’s from 2.0 all the way up to GTS and all for immediate sale with 100 miles on them.
If you can get £3-4k off the price, it either means you get a better spec car or lower monthly payments.
I obviously don’t know your circumstances, but it may we’ll be worth looking at and if you want a deal be prepared to travel to a dealer outside of London as I’ve always found them more keen to make business happen at a good price.
The other thing you may want to do is look at dealer stock and pre registered cars. The 718 isn’t holding its money very well and there is a LOT of stock in the dealer network (I reckon my OPC has 10-12 718’s from 2.0 all the way up to GTS and all for immediate sale with 100 miles on them.
If you can get £3-4k off the price, it either means you get a better spec car or lower monthly payments.
I obviously don’t know your circumstances, but it may we’ll be worth looking at and if you want a deal be prepared to travel to a dealer outside of London as I’ve always found them more keen to make business happen at a good price.
Twinfan said:
It sounds like you've got HP and PCP mixed up? PCP has an optional balloon, HP doesn't usually.
At £900 that's not enough to buy it outright though either.
EDIT - just Googled and it looks like you have a BHP (balloon hire purchase). The £31k is NOT optional and you CANNOT hand the car back at the end. I think you need to reconsider your finance choice!
Ok so this got me slightly worried. I've just double checked and maybe I'm just using the wrong lingo. When you go to do a finance example on the Porsche config at the bottom in the T&Cs it says:At £900 that's not enough to buy it outright though either.
EDIT - just Googled and it looks like you have a BHP (balloon hire purchase). The £31k is NOT optional and you CANNOT hand the car back at the end. I think you need to reconsider your finance choice!
Edited by Twinfan on Sunday 4th March 19:27
"At the end of the agreement there are three options: i) pay the optional final payment and own the vehicle; ii) return the vehicle: subject to excess mileage and fair wear and tear, charges may apply; or iii) replace: part exchange the vehicle.
When I was finalising everything I checked with the dealer that I can hand the car back at the end of the three years. However, I will shoot him a quick email and double check again. I don't intend to pay that final payment at the end of the 3 years. It would be even worse if the car is less than the value of the payment. From what I'm reading people aren't expecting great things from the residual value of these Cayman!
Twinfan said:
I've just put the above specced base 718 into the configurator and these are the figures that come out for a PCP. I don't know where the OP got £900 a month from, it's £540 for 3 years and 10k miles:
Solutions example from Porsche Financial Services based on 10,000 miles per annum for Porsche 718 Cayman
Your selected values
Customer Deposit: £ 5,000.00
Annual Mileage: 10,000
Duration (Months): 36
Finance Example
Deposit Contribution £ 1,000.00
Total Deposit £ 6,000.00
35 payments of £ 539.02
Final payment £ 30,717.85
Total Amount Payable £ 55,593.55
Total amount of credit £ 42,719.00
APR 6.4 % APR
Rate of interest 6.40 % fixed
Excess Mileage 16.80p per mile
Just remembered I'm being a tool. I got PCP and HP in my head but I when I discussed it with the dealer it was PCP vs. PCH! Solutions example from Porsche Financial Services based on 10,000 miles per annum for Porsche 718 Cayman
Your selected values
Customer Deposit: £ 5,000.00
Annual Mileage: 10,000
Duration (Months): 36
Finance Example
Deposit Contribution £ 1,000.00
Total Deposit £ 6,000.00
35 payments of £ 539.02
Final payment £ 30,717.85
Total Amount Payable £ 55,593.55
Total amount of credit £ 42,719.00
APR 6.4 % APR
Rate of interest 6.40 % fixed
Excess Mileage 16.80p per mile
Edited by Twinfan on Sunday 4th March 19:57
PCP is coming to £450pm (after some discount and 8,000 miles instead of 10k) and PCH was coming to £900pm.
Shiverman said:
Hi OP. Like the other guys have said check the finance and ask the dealer questions to make sure that the product is right for you and you can hand it back after 3 years if you want/need.
The other thing you may want to do is look at dealer stock and pre registered cars. The 718 isn’t holding its money very well and there is a LOT of stock in the dealer network (I reckon my OPC has 10-12 718’s from 2.0 all the way up to GTS and all for immediate sale with 100 miles on them.
If you can get £3-4k off the price, it either means you get a better spec car or lower monthly payments.
I obviously don’t know your circumstances, but it may we’ll be worth looking at and if you want a deal be prepared to travel to a dealer outside of London as I’ve always found them more keen to make business happen at a good price.
Hi Shiverman,The other thing you may want to do is look at dealer stock and pre registered cars. The 718 isn’t holding its money very well and there is a LOT of stock in the dealer network (I reckon my OPC has 10-12 718’s from 2.0 all the way up to GTS and all for immediate sale with 100 miles on them.
If you can get £3-4k off the price, it either means you get a better spec car or lower monthly payments.
I obviously don’t know your circumstances, but it may we’ll be worth looking at and if you want a deal be prepared to travel to a dealer outside of London as I’ve always found them more keen to make business happen at a good price.
Yes originally I did try going down this route but couldn't find a good balance between a spec I wanted and a decent enough discount. I was quite particular about GBM and that restricted a lot of the nearly new cars on the market. I also found that a lot of the cheapest cars were specced around the £51-53k. Even with a £5k discount it wasn't worth it because I could get £3800 off a brand new one. There was no way I was getting £7-8k off a nearly new car.
I've got a similar spec on order and in Porsche PCP it's coming in at over £500 a month with a £5k deposit. Managed to negotiate a small contribution but nothing incredible. Looks as if more can be had now using brokers such as coast2coast that can get you £2k off a Cayman.
Would check what deal you've signed up to but sounds like a fantastic spec. Residuals wise, even with £31k balloon I think if specced with some choice options then would expect a small amount of equity come the end of the deal, even if not then handing back having had s great 3 years isn't an awful place to be.
Would check what deal you've signed up to but sounds like a fantastic spec. Residuals wise, even with £31k balloon I think if specced with some choice options then would expect a small amount of equity come the end of the deal, even if not then handing back having had s great 3 years isn't an awful place to be.
jonnyb16 said:
I've got a similar spec on order and in Porsche PCP it's coming in at over £500 a month with a £5k deposit. Managed to negotiate a small contribution but nothing incredible. Looks as if more can be had now using brokers such as coast2coast that can get you £2k off a Cayman.
Would check what deal you've signed up to but sounds like a fantastic spec. Residuals wise, even with £31k balloon I think if specced with some choice options then would expect a small amount of equity come the end of the deal, even if not then handing back having had s great 3 years isn't an awful place to be.
I managed to get £2800 plus the £1k finance contribution directly from a dealer. Never heard of coast2coast but I'll be sure to check them out next time I'm going to purchase.Would check what deal you've signed up to but sounds like a fantastic spec. Residuals wise, even with £31k balloon I think if specced with some choice options then would expect a small amount of equity come the end of the deal, even if not then handing back having had s great 3 years isn't an awful place to be.
Yes this is exactly what I was expecting. If there is equity thats a bonus, if not I enjoyed the 3 years with what I hope to be a fantastic drivers car.
Hopefully there will be a time I can get my hands on a GT4 and then I'll not have to worry so much about depreciation!
AkashSaha123 said:
jonnyb16 said:
I've got a similar spec on order and in Porsche PCP it's coming in at over £500 a month with a £5k deposit. Managed to negotiate a small contribution but nothing incredible. Looks as if more can be had now using brokers such as coast2coast that can get you £2k off a Cayman.
Would check what deal you've signed up to but sounds like a fantastic spec. Residuals wise, even with £31k balloon I think if specced with some choice options then would expect a small amount of equity come the end of the deal, even if not then handing back having had s great 3 years isn't an awful place to be.
I managed to get £2800 plus the £1k finance contribution directly from a dealer. Never heard of coast2coast but I'll be sure to check them out next time I'm going to purchase.Would check what deal you've signed up to but sounds like a fantastic spec. Residuals wise, even with £31k balloon I think if specced with some choice options then would expect a small amount of equity come the end of the deal, even if not then handing back having had s great 3 years isn't an awful place to be.
Yes this is exactly what I was expecting. If there is equity thats a bonus, if not I enjoyed the 3 years with what I hope to be a fantastic drivers car.
Hopefully there will be a time I can get my hands on a GT4 and then I'll not have to worry so much about depreciation!
Re: 20" with no PASM - read here: https://www.pistonheads.com/gassing/topic.asp?h=0&...
AkashSaha123 said:
- Graphite Blue Metallic
- Agate Grey Interior (I hate black interiors)
- Model deletion
- Park Assist (rear)
- PDK
- 64l fuel tank
- 20 inch Carrera Classic wheels
- Cruise Control
- Seat Heating
You may want to consider Integrated Rain Sensors and Dual Climate Control.- Agate Grey Interior (I hate black interiors)
- Model deletion
- Park Assist (rear)
- PDK
- 64l fuel tank
- 20 inch Carrera Classic wheels
- Cruise Control
- Seat Heating
These are things which are standard on any boggo car these days, but Porsche being extremely miserly with their standard spec only have them as optional.
Without Dual Climate Control you have no automated climate function. And automated rain sensors I would never do without on a car.
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