So thats how Chris Harris affords his cars

[Mikeyboy]

Actually that's a better question, how can Metcalfe afford all his cars?

[Shmee]

Mikeyboy said:

Actually that's a better question, how can Metcalfe afford all his cars?

Metcalfe owned Evo before he sold it for a lot of money, hence lots in the bank and no problem. He also does other things.

[2slo]

Mikeyboy said:

2slo said:

On the other hand he might have meant that he had a poor credit history and cash would be his only option. Possibly not an implied insult?

Well I didn't quote him exactly, he made it pretty clear he thought that I could only afford it because I'd bought it on the never never. I've met him before, he's a dick

Ok, sounds reasonable then. Guess I'm lucky. Horses and sheep for neighbours. They aren't bothered what I drive

[Mikeyboy]

Shmee said:

Metcalfe owned Evo before he sold it for a lot of money, hence lots in the bank and no problem. He also does other things.

Did he? Oh well that partly explains it.

[Jamirecluse]

Harry Metcalfe's car collection is worth about 500k and his house more by the look of it.
Even so,EVO must make a huge amount and whoever bought it from him probably forecasted ahead to its potential and gave him a healthy amount for it.

Going back to Chris Harris,if he's been working for 30 years or so(recently in well-paid posts) I don't see how its so strange that he can afford a nice collection of cars.And he obviously doesn't pay anything for the long term test cars.

[tuffer]

KennyGT said:

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

Pretty sure it will say Chris Harris on the log book and not Porsche finance.

[Shmee]

tuffer said:

KennyGT said:

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

Pretty sure it will say Chris Harris on the log book and not Porsche finance.

It also says now on the front of a V5 in massive lettering about how it is not proof of ownership.

[Luke.]

Jamirecluse said:

Going back to Chris Harris,if he's been working for 30 years or so(recently in well-paid posts) I don't see how its so strange that he can afford a nice collection of cars.

He didn't start working when he was about 5.

[KennyGT]

Bill Carr said:

KennyGT said:

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

Do you invite your friends over to dinner at the bank's house?

Clever. However a mortgage is a little bit different. In the end you actually pay it off, what I am saying is that in 3 years most people have a new car so the previous car has never been payed off in most situations. Im not saying the guy is wrong, fair play for being able to drive a Porsche, and if he wants to do that then fair play

[Jimslips]

KennyGT said:

Clever. However a mortgage is a little bit different. In the end you actually pay it off, what I am saying is that in 3 years most people have a new car so the previous car has never been payed off in most situations. Im not saying the guy is wrong, fair play for being able to drive a Porsche, and if he wants to do that then fair play

Wrong. Quite often the balance is to pay it off over selected time period.

[KennyGT]

Jimslips said:

Wrong. Quite often the balance is to pay it off over selected time period.

Yeah, but then you actually own the house outright, whatever house your in at the time.

Edited by KennyGT on Friday 7th October 20:47

[markcoznottz]

Shmee said:

Mikeyboy said:

Actually that's a better question, how can Metcalfe afford all his cars?

Metcalfe owned Evo before he sold it for a lot of money, hence lots in the bank and no problem. He also does other things.

I think Metcalfe is family money, does his family own a farm or something. Remember him saying it cost 300,000 grand of his own money to launch Evo in 1998, so back then that was considerable dough. Harris is a bit of an unknown, you certainly dont afford the numeous cars hes had by looking down the back of the sofa. Heard his missus is a GP (doctor) so maybe thier combined income is high.

[Plotloss]

I'd wager that a good proportion of the South East is doing a combined £1300 a month combined across the family on balloon finance deals.

That's the alarming bit.

[robsti]

Shmee said:

The Crack Fox said:

LHD said:

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

Really ? I'm neither and have owned plenty of interesting stuff (albeit rarely brand new). Why does it make me an idiot not to want to pay interest on depreciating assets ? I (and my accountant) disagree with you.

From my short period of talking to people about this kind of things, cars over £100k are on finance more than 75% of the time. Clearly the majority who are in that position think it's a good idea.

The majority can't afford to buy it!

[andy665]

I was doing some work ina mini dealership earlier in the week and I was amazed at the number of customers who are making monthly payments of £750+ on their cars - makes what chris harris is paying for a GT3 RS look like a great deal

Also have a Porsche dealer as a client and the majority of cars they sell are funded

[wackojacko]

Just been reading up on this (my issue arrived today aswell) ..... More to the point the "10 best Q cars" feature is quite a good write up.


Fair play to Chris, he loves Porker so why not do everything you can to get one ?
The interest prospective upon the 100K finance looks a little scary but he's not stupid so all in good haste.

[robsti]

I will say again "PCP gets some people into cars they can't afford to OWN". !

Chris Harris can't afford to buy a GT3 4.0 but he can afford to rent it and if he is Lucky he will get it sold with a premium which will make it a very cheap rental !

LHD the reason you say people are idiots who buy their cars outrigh is because 90% of your buyers couldn't get near owning a RR or RRS without the PCP (ponzi car purchase) !

[Zed Ed]

Principal journo in top mag pays 1200 on car finance

Good for him

Stop the carping

[Mr MXT]

I agree its no ones business how he pays for it, and fair play to him, I'd do the same if I could.

As an aside, I wonder if he gets an extra payment when the car is used in group tests etc, so it earns its keep?

[Manks]

jdw1234 said:

I doubt HNW or UltraHNW individuals use finance.

I don't know one that doesn't.