Best way to finance 997 tt
Discussion
emicen said:
Which is 1.25% under what some online savings accounts are offering.
Yes but you have to pay income tax on interest income, presumably at 40% if you are in the 997TT ownership territory so your 6.24% interest income is only worth 3.74% after tax.997TT's in general are "free to those who can afford them - very expensive to those who can't".
MogulBoy said:
emicen said:
Which is 1.25% under what some online savings accounts are offering.
Yes but you have to pay income tax on interest income, presumably at 40% if you are in the 997TT ownership territory so your 6.24% interest income is only worth 3.74% after tax.997TT's in general are "free to those who can afford them - very expensive to those who can't".
My conclusion remains the same, paying outright in cash is not always what you should do.
emicen said:
IMI A said:
if you can pay cash you should.
Not necessarily. Mate of mine got an HP deal with an APR of 4.99% recently. Which is 1.25% under what some online savings accounts are offering.Are you sure that wasn't a flat rate of 4.99% as most dealers will quote a flat rate instead of a real rate, nominal rate or APR - the APR on 5% flat would be an APR of 10%+.
I actually have a client looking for an X50 Turbo at the moment.
have a look at my web which will answer some of your questions about the best way to finance a car of this nature and why. In my profile.
Edited by Jamie PCF on Friday 21st September 11:28
Jamie PCF said:
No commercial operator would give 4.99% APR which is well below Base Rate unless it was a volume car with potential discount used as subsidy. People are not in the habit of putting money out on risk and make a loss. If he has an APR on the actual document the deal would have been less than £25K so this could well be the case.
Are you sure that wasn't a flat rate of 4.99% as most dealers will quote a flat rate instead of a real rate, nominal rate or APR - the APR on 5% flat would be an APR of 10%+.
The agreement was for over £25k. The APR is not stated on the document. As he's a chartered accountant, I gave him benefit of the doubt when he says he worked it out to be 4.99% Are you sure that wasn't a flat rate of 4.99% as most dealers will quote a flat rate instead of a real rate, nominal rate or APR - the APR on 5% flat would be an APR of 10%+.
emicen said:
Jamie PCF said:
No commercial operator would give 4.99% APR which is well below Base Rate unless it was a volume car with potential discount used as subsidy. People are not in the habit of putting money out on risk and make a loss. If he has an APR on the actual document the deal would have been less than £25K so this could well be the case.
Are you sure that wasn't a flat rate of 4.99% as most dealers will quote a flat rate instead of a real rate, nominal rate or APR - the APR on 5% flat would be an APR of 10%+.
The agreement was for over £25k. The APR is not stated on the document. As he's a chartered accountant, I gave him benefit of the doubt when he says he worked it out to be 4.99% Are you sure that wasn't a flat rate of 4.99% as most dealers will quote a flat rate instead of a real rate, nominal rate or APR - the APR on 5% flat would be an APR of 10%+.
Well I have had a drive and was pleasantly surprised how the car has moved on. It felt fast but not massively so, the big difference is the feel of the car and the way the suspension behaves in putting the power down, cornering and braking. All in i think that they are expensive but have taken the next step forward.
The most shocking part was they offered me what I wanted on the X50!
The most shocking part was they offered me what I wanted on the X50!
Hmmm, must be overpaying on the 997TT.Gassing Station | Porsche General | Top of Page | What's New | My Stuff