Is this a decent PCP deal on a Porsche Macan?

[SheikhMidas]

Hi all,

I was quoted the following deal for a Porsche Macan S diesel, 2016 plate with 50k mileage.

• Term: 47months
• Miles: 8,000
• APR: 7.3%
• Cash Price: £33,900
• Deposit: £6,500
• Monthly Payment £386.42
• Final Payment: £15,675
• Total Paid: £39,960.32

It's from a main dealer, so benefits from 2years warranty, 2years AA European road assistance, fresh MOT and a fresh service.

Has anyone had any experience with buying from a Porsche OPC?

Edited by SheikhMidas on Tuesday 5th July 16:14

[Tagteam]

Seems a lot of interest . Personal loans much cheaper recently

[SheikhMidas]

Tagteam said:

Seems a lot of interest . Personal loans much cheaper recently

Makes the monthly repayments much higher

[sxmwht]

Tagteam said:

Seems a lot of interest . Personal loans much cheaper recently

Pretty standard used car PCP interest levels. On the low side, in fact

[Presuming Ed]

If its all about the monthly payment then total cost, then yes, its a good deal. Remember on a PCP your still paying the interest on the full balance so they look expensive but the APR is fair in this current climate

[Jimmy No Hands]

sxmwht said:

Pretty standard used car PCP interest levels. On the low side, in fact

Indeed. Not unusual to work off 9.9% or so.

OP - main thing is, is it a good deal for you personally? That's all that really matters.

[Deesee]

That’s 26k to hand it back.

Brand new one would be from 25k/30k to hand back… (with more miles).

https://www.porsche.com/uk/models/macan/macan-mode...

Get them to sharpen there pencils!!

[james_zy]

As others have said, not terrible for a PCP but there are much cheaper ways to finance.

In your shoes, I would be taking out a personal loan at a lower rate to purchase the vehicle outright. You can get up to £25,000 at 2.9% with the AA, which combined with your deposit of £6k gets you very close to the cash price.

The other (perhaps better) alternative might be to raise this with them and see if they can bring down the APR on the PCP to something more sensible.

[Mjsibs]

I've found dealing with all macans that it's cheaper over 2 or 3 years, not just the intrest paid but monthlies.

Again balloons larger but will all depend on what you intend to do with the vehicle.

[lornemalvo]

Each to his own, but I'm not a fan of PCP deals. It seems a lot of money to fork out to end up with 15k still owed for what will be a 10 year old Macan.

[Muzzer79]

SheikhMidas said:

Tagteam said:

Seems a lot of interest . Personal loans much cheaper recently

Makes the monthly repayments much higher

You should be able to get a £25k personal loan for around £500 per month over 4.5 years (I did)

That's £114 more per month than your PCP payment, you'll own the car at the end of the term (rather than have to pay 15 grand for it) and can do as many miles as you like.

I have to ask - If you can't afford an extra £114 per month, should you really be buying a Porsche?

[J1990]

Deesee said:

That’s 26k to hand it back.

Brand new one would be from 25k/30k to hand back… (with more miles).

https://www.porsche.com/uk/models/macan/macan-mode...

Get them to sharpen there pencils!!

^This. If you only care about the monthly payment and don't plan on buying the car then I'd be going new, with a warranty and better value for the money being spent.
If you're intending to pay the bubble then personal loan is definitely the way to go here, unless you have bad credit and find yourself with an unfavourable rate.

[Nick_MSM]

lornemalvo said:

Each to his own, but I'm not a fan of PCP deals. It seems a lot of money to fork out to end up with 15k still owed for what will be a 10 year old Macan.

My thoughts too.