PCP Help & General Help

[MyMilkshake...]

Looking at getting a 911 again and was wondering what monthly payments I should be looking at with my options (rough guide)

C2 S
Manual

£15k Deposit
10k miles per annum
4 Year Term

What kind of monthly payments should I expect & what would be a good deal?

Also does the Sports Chrono pack actually increase performance or does the 0-62 time decrease due to launch control? I appreciate the engine mounts and modes

Can anyone recommend a dealership or salesman to speak to regarding ordering a car?

Many Thanks In Advance

Edited by MyMilkshake... on Saturday 2nd April 20:43

Edited by MyMilkshake... on Saturday 2nd April 22:49

[MyMilkshake...]

BUMPASAURUS REX

[terryb]

Maybe you should post a little extra info like whether you are talking new or used and what value of car you are talking about. A bog standard car vs a fully loaded car will be a massive difference in terms of monthlies

[Wilmslowboy]

From the Porsche web site (3 year example)


Solutions Personal Contract Plan* representative example for Porsche 911 Carrera Coupe S** subject to a 36 month, 10,000 mile per annum agreement
Duration 36 Months
35 monthly payments of £872.69
Customer Deposit £21,700.00
Recommended on-the-road price (inc metallic paint) £86,412.00
Amount of credit £64,712.00
Optional final payment £46,542.40
Total amount payable £97,221.55
Acceptance fee*** £0.00
Option to purchase fee**** £10.00
Rate of Interest 6.6% fixed
Representative APR 6.7%

Or try - you can play around with deposit and terms etc (lower interest but also lower GFV - £37k versus £46k after 3 years)

http://www.finance4cars.co.uk/PCP_Car_Finance_Calc...

[MyMilkshake...]

Sorry it's a new car, just a standard Carerra S

I have used the configuration before and prices didn't come out anywhere near the same, they were inflated massively

[Dreds]

If you are adding lots of options then your monthly payments will rocket. Go onto the configurator and look at the GFV for a car with no options. Do the same for a car speced up to your liking, you will notice that the GFV doesn't change. You basically have to pay for all your options over the period of the PCP, so £10800 of options is going to cost you £300 extra a month(plus interest) on a 36 month PCP.

[Dreds]

Forgot to mention that PDK is the only option that seems to increase the GFV.

[MyMilkshake...]

I would be looking at a new Carrera S with NO OPTIONS, yes it would be a manual & a term of 4 years, I have stated all parameters above, could anyone give an estimated monthly maybe the or what would be considered a good deal

Is10% off purchase price (discount) about the best possible?

[MyMilkshake...]

I have been told I would be looking in the £700 region?!

[jackliebling]

Give Jeff Wong a call at Porsche Bristol. Great chap (I've bought two cars from him). Super helpful and transparent.

The GFV from the website will probably not change but that is mileage sensitive.
You need to find the best APR you can get (c.6%) and perhaps a 5% discount. Hey presto you will have your monthly costs. Use a website car finance calc like pcpcalc.co.uk

[jackliebling]

For an indication, my deal was on a secondhand 2013 991S

Price £63990

Deposit £10000

GFV £27600

APR 6.5%

£780 pm for 4 years...

[jackliebling]

Sports Chrono makes a difference with PDK as it speeds up the shifts. With a manual I believe it's more of a fancy clock...

[Digga]

Daft question perhaps, but I've never bought with PCP; does the GFV tend to leave enough meat on the bone to provide the deposit for the next car?

[jackliebling]

That is the point. I would expect to have around £10k deposit come the end of my 4 years... Car will definitely be worth around £38k...

[MrLizard]

Digga said:

Daft question perhaps, but I've never bought with PCP; does the GFV tend to leave enough meat on the bone to provide the deposit for the next car?

that is the idea, some places within the VAG group either inflate or deflate this based on the car and circumstance and offers etc. I did this a few times with audi and ended up in a situation where it made no sense to go anywhere else (which was a good thing for them) - I ended up moving within the dealerships franchise to Seat who gave a more accurate GFV and I purchased the car outright before the end of the term.

I am just jumping into my second porsche and it hasnt worked too badly. If you swap cars a lot then PCP can cripple you (depending on the deal), there is usually a clause about half way through the term that sometimes helps. In my experience 2 years has worked ok for me, any less and i have lost a bit out of the equity in the car.

lovely choice btw

[Jonny08]

jackliebling said:

That is the point. I would expect to have around £10k deposit come the end of my 4 years... Car will definitely be worth around £38k...

Just playing devil's advocate and I'm sure you already know, but just setting some expectations for others not to assume that they will have the difference between (Guaranteed Future Value) GFV and market value when the PCB ends to use as a deposit into their next car. For example, if you will be trading in for your next car don't forget to consider the dealer BS "We need to do 111 point check, service it and put a warranty on it - £3K, we need to refurbish the wheels and do some paint touch ups - £500, we need to add a profit margin! etc. etc." This could easily add up to £5K.

Another pointer for the purposes of bringing the cost of the PCP down, is to set the mileage to the minimum the agreement will allow - the only time where you'd be held to contract with this and subject to excess mileage charges is if you handed the car back at the end of the term (the only time you'd do this is if the market value was less than the GFV). If you are confident in the GFV and then some then you will be selling/trading-in/buying the car at the end of the term and paying the final payment will be settled.

That said - as The Rock says "Never buy a depreciating asset - if it drives, flies, floats or f**cks, lease it!"

Edited by Jonny08 on Monday 4th April 15:10

[jackliebling]

Agreed, there are no guarantees on the equity at the end. However having had 3 Porsche's on PCP or LP, I have found that each time the car is worth far more then the final payment. The Porsche GFV is very conservative as they really don't want to end up with a car that is worth less then their Guaranteed Future Value, if that were the case, THEY would be the losers...

I think the way to do PCP is to keep the car until 6-12 months before the term ends... That way, your mileage is not taken into account. If you go to the end of the contract then the mileage will be deducted from the value at whatever rate you originally agreed (c. 15p per mile).