Looking for a cheap finance APR for my new 991 Turbo?

[SnoopD]

Hi folks

Having financed most of my cars over the years I believe I've always got a decent finance rate however this time round with the base rate so low, I'm not convinced the best rate I've negotiated with my OPC for my March delivery 911 Turbo is low enough?

I've got Porsche Finance down to a flat rate of 3.7% so APR of approx 7.3% for HP with a balloon. (Had to be referred to secure this rate). I appreciate many finance rates with a balloon are easily north of 9-10% APR so has anyone managed to secure a rate lower than this with an outside finance company please? If so which company did you go to?

Thanks

S

[SnoopD]

Thanks for the recommendation. I see they have a branch local to me so I will call them tomorrow 😊

[SnoopD]

Yes using the mortgage is a cheaper deal & I did that on my last car, but ties up my useable cash so need to stick to car finance but can claim most of it back through the business, so actually a higher APR (car finance vs mortgage) isn't a problem. Just want to check ive got the lowest APR going down this route.

[SnoopD]

Thanks chaps. I tried Oracle last time & they were quite a bit more on the APR but will check & also check balloons although I was told the balloons aren't as higher as they used to be.

[SnoopD]

Thanks Frank. Will try him too

[SnoopD]

Wow w5pwr I've never seen a rate that low! Do you have a contact for a broker? If not, as I bank with Barclays, I can make some calls to see if I can get a rate that low

[SnoopD]

Thanks again

[SnoopD]

Thanks TerryB. Yep agreed re regulated or not. I've had both over the years & yes I need to bare in mind interest rates are likely to rise at least 1% over the next 2-3 years which would affect the latter if it's a variable rate finance deal.

[SnoopD]

My OPC have now offered me a rate just under 6% APR but Lombard appear to be able to offer a bit better. Waiting for a call back to check figures.

[SnoopD]

I've been offered 5.3% by Lombard & Jamie at Eurolease 5.5% but with a lower balloon (£10k+ lower?!) than the OPC & Lombard are using. Also spoke to Oracle Finance who offered a similar APR too but slightly lower balloon vs L & OPC.

Nothing available out there at sub 5% unless you use your own mortgage lol

[SnoopD]

I'll have to see if I can squeeze Lombard more then Eleven.....

[SnoopD]

Well i've secured a rate under 5% with Lombard, lower than any other finance house!

Can't wait to get into my new car now!

Thanks for your input fellow PHers

[SnoopD]

It is regulated so fixed & the balloon is £3000 lower than the OPC which isn't a problem to me as the APR is lower, so the payments are virtually the same.

Saved a whopping £3000 over 3 years in interest vs the OPC finance deal. Thanks Lombard

[SnoopD]

It's LP with a balloon as low as PCP. Also regulated & a fixed APR.

On PCP the APR would be a lot higher.