Finance balloons on 997 Turbo

[kent_phil]

So after being told I wasn't one of the chosen few to be selected for a GT2 I've switched my deposit over to a Turbo instead - probably should have told Porsche where to go but it wasn't Lambos or Ferraris I lusted after when growing up, just good old 911 Turbos.

Plus ownership of a couple of other Porsches over the last 7 years has conditioned me to this sort of treatment...

Anyway, does anyone know what sort of finance balloons are possible on the Turbo's - I'm slotted in for an April build so getting ready for the finance hit.

Thanks,

Phil

[Wanta996(Gotta)]

http://www.oraclefinance.co.uk/examples.html

997 TT is the perfect all round performance car IMO.

[WingedTiger]

I know a few people that can sort out finance for you if its for business or to be put through a business. Balloons will depend on teh mileage you intend to do and how aggressive you wantthem to be. If you just looking for a residual payment - as opposed to a guaranteed future value that someone else take steh risk on, then you can get away with a bit more. The otehr way around is to work out what you want to pay a month, how much deposit yio're putting down then work out what balloon that gives you based on current interest rates: I can do that for you if you want to email me.

[gorisan26]

WingedTiger said:

I know a few people that can sort out finance for you if its for business or to be put through a business. Balloons will depend on teh mileage you intend to do and how aggressive you wantthem to be. If you just looking for a residual payment - as opposed to a guaranteed future value that someone else take steh risk on, then you can get away with a bit more. The otehr way around is to work out what you want to pay a month, how much deposit yio're putting down then work out what balloon that gives you based on current interest rates: I can do that for you if you want to email me.

shame there's no spell check on posts ay?

[WingedTiger]

Shame I've never taken typing lessons!

[razor]

I've also got a TT coming in about Feb/March and am thinking about using some finance. I've had some experience of HP but none of balloon payments. If I wanted to pay £25k or £35k in cash (including the £10k deposit that I've already paid), make monthly payments over a 36 month term, with a balloon to pay at 36 months, what would I be looking at for monthly payments and balloon? Does anyone get such finance from Porsche itself or is that a no-no?

[Davey S2]

Not tried with Porsche (yet) but on previous experience if you get a good deal from an independent finance company and ask the dealers to match it they usually will. Probably easier to deal with the same party for the car and finance in that case.

[WingedTiger]

Razor - if I assume you're going to pay, say, £110k for the car and then put £35k down. You can pick a balloon from £0 to what the finance company thinks it'll be worth at worst: So say thats £65,000. At a rate of around 8% (thats a nomonal bank rate as opposes an APR or flat rate) you'd be looking at payments around £740 a month for 36 months. If you decrease the deposit to £25k then payments go to around £1,050.00. Any decrease in balloon or deposit will increase your monthly payments, and increase will decrease payments. But that would leave you no equity in the car assuming you get £65k or if it's worth less, you have no cover unles you buy GAP insuarnce. I'd always recommend you get a balloon well within the worth of the vehicle - say in this case, £50k then you have some leeway.

WT

[964RS]

I got an excellent deal from the guy who sorts out any business finance for us at lombard. Good balloon with daily interest and no penalties for redemption. good rate over BOE base.

PM me if you want his details....don't really want to post on a public forum.

Jason