balanced payments - which 997 to buy?

[chumley-warner]

Using balanced payments, running a 997 is not life threateningly expensive IMO, question is given free reign in the sweetshop what to buy which maximises the "buy it new, chop it at 18k miles and get another new one".

I do a lot of motorway miles and overnight bags make front diff restricted cubby holes a problem. I currently have (like for the last 10 days) a 997 C2S - what should I get - I think I want a Cab - these seems hated by the majority here though, right?

C-W

[nem351s]

Get what makes you happy.

I don't like buying new and chopping in for new again ever makes financial sense due to dealer spreads (unless it is a GT3 RS with waiting list etc.)

[nbetts]

chumley-warner said:

Using balanced payments, running a 997 is not life threateningly expensive IMO, question is given free reign in the sweetshop what to buy which maximises the "buy it new, chop it at 18k miles and get another new one".

I do a lot of motorway miles and overnight bags make front diff restricted cubby holes a problem. I currently have (like for the last 10 days) a 997 C2S - what should I get - I think I want a Cab - these seems hated by the majority here though, right?

C-W

I loved my C2 Cab when I had one. You are right they seem to have a lot of scorn poured upon them by the Piston Head collective - but I thouroughly enjoy a hood-down moment now and then... and what better a car to enjoy it in....

[chumley-warner]

How about proposed 2008 facelift? - or is this hewbris - if a facelift comes along in Spring 2008 - this autumn would be a mighty back time to buy me thinks. Any truth in this?

[2something]

nbetts said:

chumley-warner said:

Using balanced payments, running a 997 is not life threateningly expensive IMO, question is given free reign in the sweetshop what to buy which maximises the "buy it new, chop it at 18k miles and get another new one".

I do a lot of motorway miles and overnight bags make front diff restricted cubby holes a problem. I currently have (like for the last 10 days) a 997 C2S - what should I get - I think I want a Cab - these seems hated by the majority here though, right?

C-W

I loved my C2 Cab when I had one. You are right they seem to have a lot of scorn poured upon them by the Piston Head collective - but I thouroughly enjoy a hood-down moment now and then... and what better a car to enjoy it in....

A bit old:

cnn said:

Women. Always making stuff complicated.

Top 10 cars for men ...

http://edition.cnn.com/2005/AUTOS/fun
Still makes the top 10 ... just

[playerone]

Can I ask roughly what a 997S with decent spec comes out at monthly?

[chumley-warner]

Assumption of 25k miles per year, which is high, 1155 / month. I hope to do slightly less miles, but probably won't benefit from that.

[chumley-warner]

I've been misled - I saw a 959 a couple of weekends ago and couldn't believe the absence of space in the boot (front) since then I assumed that all 4WD cars had close to no space. I went to my local OPC this afternoon to discuss a new order, only to see the boot on a Targa 4 and realised I could have other 4WD cars and still have an overnight boot.

Now it makes my choice a bit wider and a bit harder. Hmmmmmmmm........sweetshop.........

[911wise]

Excuse my ignorance but what do you mean by balanced payments?

[giw12]

And what's 'hewbris'?

[chumley-warner]

giw12 said:

And what's 'hewbris'?

Similar to hubris, but with less education

Balanced payments are where you are funding the depreciation over the term, works out a cheap(er) way to run a 911. I'm not sure of the maths.

[911_OMG]

Now for the boring bit....Balanced Payments is a form of Lease Purchase, usually over a period of 2/3/4 years. The interest on the amount borrowed is calculated on a daily basis at a rate over Finance House Base Rate (FHBR). There is usually some form of balloon payment/ final payment at the end of the term, normally UP TO A MAXIMUM 55%(2 years), 50%(3 years) or 45%(4 years)of the purchase price. The monthly payment stays fixed, however with the interest being calculated on a daily basis and with a fixed monthly payment you will either be over paying or under paying interest over the term. If the FHBR goes up over the period you will be underpaying interest and likewise if the FHBR goes down over the period you are over paying interest.....so......the overpaid or underpaid interest is either added or subtracted from the balloon payment at the end BALANCING the agreement, hence it's called Balanced Payments. Most people don't go the whole term and the agreement can be settled early at any time. The advantage of these agreements are that interest isn't loaded up front as with a Fixed Rate agreement and so if you wanted to terminate early the settlement penalties are much reduced in most cases. Basically, due to the higher residual values of Porsches over other manufacturers *lights blue touch paper and stands well back* these agreements mean that you can afford to buy a Porsche for what appears to be a relatively low monthly payment. The risk of the final balloon payment is that of the hirer and therefore should be set at level relative to the vehicles anticipated mileage etc. Basically you can buy a 997 GT3 for £200 a month. Hope i didn't bore you all too much....

Edited by 911_OMG on Wednesday 14th February 06:19

[giw12]

chumley-warner said:

giw12 said:

And what's 'hewbris'?

Similar to hubris, but with less education

Balanced payments are where you are funding the depreciation over the term, works out a cheap(er) way to run a 911. I'm not sure of the maths.

Hardly comparable with the Theban cycle old chap....

[scotty_917]

911_OMG said:

Basically you can buy a 997 GT3 for £200 a month. Hope i didn't bore you all too much....

Edited by 911_OMG on Wednesday 14th February 06:19

Very interested in your second to last sentence; how did you come up with that figure...because I'm considering the viability of a 997 GT3 at the moment?

[thorny]

I had a C2S Cab (Silver with blue hood) which was fantastic and I regret getting rid of it for my 997 C4S Coupe. I'd go for a C2S Cab with PSE... You do lose some space in the back though in the cabs. However is very cool to be able to take the roof up and down on the move and also remotely with the key!

[9hellheaven]

Hi 911 OMG.. Thats all interesting stuff. Maybe I should go into loans for Porsche cars..no risk to the company who puts the money up, and good returns. I would not like a deal whereby I didnt know what the final deal (outcome) would be...Hmmm food for thought.
I bought my car new in March 06 in the old fashioned way of paying for it outright (real money)...in view of your cooments was this the best way to buy a new car??. Ime working on the principal of zero interest..and the fact I am polishing my car and not the banks/Fin company/lease firm etc? Maybe i am wrong?? Thanks..

[forest172]

I have got an agreement sorted over a term of 3 years for the following, non OPC

£50,000 car C2S soon hopefully
£25,000 deposit
£119 per month, ballon/balance after three years at £26,528.

or

£50,000 c2s
£25,000 deposit
£152.00 per month

balance after three years £25,000

looking at c2s I think I need to spend about £53,000 for the spec I want so would put the extra £3k in myself cash.

What you guys think?

[9hellheaven]

SO ITS COSTING YOU 5812 POUNDS ON 25K..WHY NOT JUST GET A BEANK LOAN AT A BETTER DEAL/RATE??

[Peely]

scotty_917 said:

911_OMG said:

Basically you can buy a 997 GT3 for £200 a month. Hope i didn't bore you all too much....

Edited by 911_OMG on Wednesday 14th February 06:19

Very interested in your second to last sentence; how did you come up with that figure...because I'm considering the viability of a 997 GT3 at the moment?

Right then....................I'll have one............ and a new RS ..........and a new Turbo, and...............

[guyvert1]

£25k over 3yrs

5.9% APR

£594.02 per month

£1,784.68 total interest payable

£21,384.68 total repaid

Although MUCH cheaper, alot don't wont £600pm...