Finance question

[Rico]

Righty... not for me sadly. Got a mate who went to uni, did a Masters etc etc and has pretty much walked into a £50k job with sizeable bonus. He's looking to get a Fez (probably cheaper 360), but normal banks etc won't touch him due to only have a few months of employment and not owning his own property.

Also showed him that thread in Porsche about OPCs lumping finance, so he's looking more for independents rather than dealer.

Are there any finance companies out there that can help? I guess its a type of sub prime lending... he's got the cash coming in, but no real history of large purchases.

I've tried telling him he's a bit of a moron doing this, but heck, its his life.

Cheers

[turboguru]

Try Andy at Oracle Finance - good guy, good rates and may be able to help: [e-mail]

[BermyAndy]

Or rob at http://www.classicandsportsfinance.com/

[jofanon]

My advice and I mean this very honestly & sincerely is not to buy one.

A £50k salary is not enough to run a Fezza and suffer depreciation etc. Unless his bonus is £100k or so I'd say stay away.

My personal opinion anyway!

[turboguru]

I agree he would find it hard on that salary - say finance = 900 per month, fuel £105 a tank, depreciation 6k a year maybe depending, 3k for a Ferrari warrenty each year to be safe, 2k for a service, 3k for a clutch - 6k minimum slush fund, resprays, repairs outside of warrenty, gremlins etc - go for a Porsche 911 and it's much cheaper all round.

[Adam B]

if his bonus is £100k then wait until he gets it (won't for 10 -12 months I guess) and buy with cash

is his bonus guaranteed? if not he is crazy, in fact he is crazy either way

[RichQuy]

jofanon said:

My advice and I mean this very honestly & sincerely is not to buy one.

A £50k salary is not enough to run a Fezza and suffer depreciation etc. Unless his bonus is £100k or so I'd say stay away.

My personal opinion anyway!

I am inclined to agree, unless the bonus is huge, he could be in for a tough time if the unexpected repair(s) and subsequent bill(s) come through. Funding that from a £50k job is not going to be easy (whilst still having a life) and with the endless wait for the 'sizeable' bonus I would personally say it isn't worth it.

Why not try a cheaper sports car in the time being then move up once he's got a few more years, and hopefully more than just incremental rises, under his belt?!

[derestrictor]

Holy Chuckulators, Batman!

Oh ffs, Andreas - can't you just slap him, tell him to 'pay his dues' and drive a Dolomite Sprint (I use the word 'drive' in the elegiac sense) for a year or three?