So thats how Chris Harris affords his cars

[1]

Streetrod said:

1 said:

Streetrod said:

Evo magazine for various reasons gets a lot of comment on this site, with a reasonable proportion of that on how Chris Harris, a mere journo can afford the cars he has.

Anyway in this months new issue Chris reveals all when outlining his new purchase a Porsche 911 GT3 RS 4.0, lucky git.

Anyway this is how the figures read:

List price £135.276 including options

He sold his old GT3, which apparently he has lost more on than any car he has owned, added a £15k deposit and paid an extra £1150.42 on his debit card. And to top it off he borrowed £100k from Porsche Finance at 8.52%.

The HP agreement is over 4 years with the residual value of the car set at £81,902. This all adds up to monthly payments of £1280.71 which is more than I pay on my mortgage in a smart part of Surrey.

So there you go. It does beg the question how much EVO pay's its journo's and does Chris just have a huge pot of cash sitting around for such things?

Personally I say good luck to him, he buys the cars he loves with his own loot, which considering he has access to more cars that most of us could ever dream of sets him out as a good egg in my books.

Where did you get the £1280 monthly payment figures from? £100k over 48 with £82k baloon at 8.5% should make it much less than that?

Regarding how he affords it. Lots of people pay £1k towards a car/toy/hobby. The real killer is depriciation which he should suffer with too much on this particular car.

I am quoting from this month’s EVO magazine that dropped on my doorstep about an hour ago.

By the way they have a good article on the V8 Ferrari’s dating from the 308 to the 458. The pics of all the cars in profile is very good as it really shows off the development of the V8 cars over the rears

Somthing doesnt add up. In fact I suspect its the £100k balance. £1280pm is more like £135 otr £82k baloon, less £16k deposit. Maybe the £15k was the equity he had in the gt3?

[robsti]

The £1280 only adds up to £15k a year !

If he can offset 90% business use and is a 40% taxpayer it is only costing him £820 or £205 PW or £30 per day!

[pwrc]

I do wonder how he finances this stuff, but at the end of the day he seems like a really decent bloke and he's a really good writer/reviewer so who cares, he's earned it.

[Nicholas Blair]

Could somebody help me up please.

Holy st

[hornetrider]

Gruber said:

Chris's father (Rolf, the legendary Australian entertainer) handed over his PRS rights to Chris in an inheritance tax planning wheeze a few years back and so Chris funds his car passion through the royalties to Jake the Peg and Two Little Boys.


That's my theory anyway.

[R.P.M]

As if Chris is going pay for even 12 months of finance.

I bet it will be unloaded for a 20k premium before the springs here.

[LHD]

Does it really matter how he funds his cars?

Honestly, only an idiot or the super rich buy a car outright.

I think that sounds like quite a deal, the 8% figure will be the APR rate through Porsche (Black Horse)

[Lordbenny]

Shirley Porsche give him whatever car he wants, he's the most prominent performance motoring journo in the country after all! Your going to tell me JC buys his own cars next!

[Streetrod]

[devnull]

Chris has a pretty good internet presence, and I'm pretty sure you can find him as 'MonkeyHarris' on the EVO forums. He's bound to read this and chortle at how you lot wind yourselves up about how he can afford things

[Digga]

R.P.M said:

As if Chris is going pay for even 12 months of finance.

I bet it will be unloaded for a 20k premium before the springs here.

Legend has it that this, IIRC, is his old motor: http://www.pistonheads.com/sales/3089243.htm

I'm afraid I'm with the ranks who would - out of financial neccessity - baulk at incurring >£10k depreciation per annum!

Now a nice 996 turbo on the other hand...

[tuffer]

Maybe he has a £1300 a month car allowance, in which case it's not that big a deal.

[Matt UK]

Sometimes PH confuses me.

So his car is costing him £1,300 / mth - so what?

He is a prominent player in his industry - why would anyone be surprised if he earns £100k+? I have no idea if this is anywhere near or not, but there are plenty of people earning well over that for being good at their jobs.

Plus, he may have a partner who earns well also. plus he may not choose to have huge outgoings on other things.

Maybe I'm going againsts the grain, but I fail to see how this is a big deal.

[Jimslips]

devnull said:

Chris has a pretty good internet presence, and I'm pretty sure you can find him as 'MonkeyHarris' on the EVO forums. He's bound to read this and chortle at how you lot wind yourselves up about how he can afford things

This. Goodness gracious folks. Listen to yourselves.

[KennyGT]

So he will never actually own the car. I love how people say this is my car when really its not.

[rumbletum]

I wish I'd have done something similar and bought a 993 RS 15 years ago, judging by the prices that they are fetching now.

[Jimslips]

KennyGT said:

So he will never actually own the car. I love how people say this is my car when really its not.

Just because the bank owns it does not mean he can't say to his mate "check out my new car" - the car is new to him.

He does not have to say to everyone. "Check out my GT3, it's all mine, all bought with cash, so no one owns it, and it is new in my posession"

[Mermaid]

hornetrider said:

Gruber said:

Chris's father (Rolf, the legendary Australian entertainer) handed over his PRS rights to Chris in an inheritance tax planning wheeze a few years back and so Chris funds his car passion through the royalties to Jake the Peg and Two Little Boys.


That's my theory anyway.

Have one more

Chris is good journalist, a good driver - does he also have to be financial savvy?

Now how many financial savvy people on PH's are as good as CH at writing about/driving cars?

[Justices]

J4CKO said:

He may have personal wealth, an inheritance, investments, a wealthy partner, a window cleaning round on the side ?

He's obviously been delivering pizza..

[KennyGT]

Jimslips said:

Just because the bank owns it does not mean he can't say to his mate "check out my new car" - the car is new to him.

He does not have to say to everyone. "Check out my GT3, it's all mine, all bought with cash, so no one owns it, and it is new in my posession"

Yeah ok. This is why the country is full of people in stupid debt. Ok, so its finance and that but anyone can go and and get finance on a expensive car. It feels so much better knowing you dont owe a penny on a car, and its actually yours.