Best rate on a new Porsche?
Discussion
This week I had a call about a cancelled order on an unregistered Taycan 4S ST which is sitting at the dealership and I’ve put a deposit on pending me being happy with the colour as it’s Carrara White and I’ve not seen one in the flesh.
I usually buy outright but given the current climate I’m thinking I may go the PCP route. I’ve been quoted 10.9% regardless or deposit size or term. Apparently the rate is going up to 11.9% in December. Has anyone had a better rate on a new car in the last month?
Also wondering if the person who was buying it loses their deposit if they’ve cancelled at the point the car was delivered to the dealer?
I usually buy outright but given the current climate I’m thinking I may go the PCP route. I’ve been quoted 10.9% regardless or deposit size or term. Apparently the rate is going up to 11.9% in December. Has anyone had a better rate on a new car in the last month?
Also wondering if the person who was buying it loses their deposit if they’ve cancelled at the point the car was delivered to the dealer?
W12GT said:
This week I had a call about a cancelled order on an unregistered Taycan 4S ST which is sitting at the dealership and I’ve put a deposit on pending me being happy with the colour as it’s Carrara White and I’ve not seen one in the flesh.
I usually buy outright but given the current climate I’m thinking I may go the PCP route. I’ve been quoted 10.9% regardless or deposit size or term. Apparently the rate is going up to 11.9% in December. Has anyone had a better rate on a new car in the last month?
Also wondering if the person who was buying it loses their deposit if they’ve cancelled at the point the car was delivered to the dealer?
If you’ve got the cash, why would you PCP at those rates, it doesn’t make sense. You would make the cost of the interest back over the PCP term no matter what you did with it.I usually buy outright but given the current climate I’m thinking I may go the PCP route. I’ve been quoted 10.9% regardless or deposit size or term. Apparently the rate is going up to 11.9% in December. Has anyone had a better rate on a new car in the last month?
Also wondering if the person who was buying it loses their deposit if they’ve cancelled at the point the car was delivered to the dealer?
You can get 8.9% from BNPP currently (I got offered by Oracle at 6.9% pre November and they were increasing to that at the beginning of the month) - though bigger deposit & lower balloon so higher monthly. I opted for VWFS at 8.9% as seemed to have more flexibility with early repayment & just wanted the flexibility / conserving cash given current climate
If these are flat rates ... the apr will be around twice this ...
What you can see is that the OPC's are not offering the best rates for a simple reason, kickbacks.
Mortgages are 6% flat at the moment but for these the apr over the term is complicated by changing rates and early payments / overpayments.
What you can see is that the OPC's are not offering the best rates for a simple reason, kickbacks.
Mortgages are 6% flat at the moment but for these the apr over the term is complicated by changing rates and early payments / overpayments.
ChrisW. said:
If these are flat rates ... the apr will be around twice this ...
What you can see is that the OPC's are not offering the best rates for a simple reason, kickbacks.
Mortgages are 6% flat at the moment but for these the apr over the term is complicated by changing rates and early payments / overpayments.
Rates I quoted above were APRsWhat you can see is that the OPC's are not offering the best rates for a simple reason, kickbacks.
Mortgages are 6% flat at the moment but for these the apr over the term is complicated by changing rates and early payments / overpayments.
I know this is a debate done to death on here, but with inflation over 10% and interest rates (on PCP) even higher, if you have spare cash and need / want an expensive asset then buy it outright.
Actually if you have spare cash at any time I would buy outright, but more so now than ever.
Actually if you have spare cash at any time I would buy outright, but more so now than ever.
NC2022 said:
ChrisW. said:
If these are flat rates ... the apr will be around twice this ...
What you can see is that the OPC's are not offering the best rates for a simple reason, kickbacks.
Mortgages are 6% flat at the moment but for these the apr over the term is complicated by changing rates and early payments / overpayments.
Rates I quoted above were APRsWhat you can see is that the OPC's are not offering the best rates for a simple reason, kickbacks.
Mortgages are 6% flat at the moment but for these the apr over the term is complicated by changing rates and early payments / overpayments.
Edited by ChrisW. on Saturday 26th November 17:25
ChrisW. said:
Are you sure ? I saw the Leicester OPC ad for the GT4RS and that definitely said 11.9% Fixed ... just checked ... it says a slightly lower rate apr beneath this !
Yep - positive , that’s what it says on my agreement. I got the finance quote though end of October & picked the car up 2 weeks ago. I know BNPP were increasing theirs from 6.9% (flat rate 3.55%) to 8.9% end October - maybe Porsche did the same from 8.9% to 10.9/11.9%?Edited by ChrisW. on Saturday 26th November 17:25
Discombobulate said:
I know this is a debate done to death on here, but with inflation over 10% and interest rates (on PCP) even higher, if you have spare cash and need / want an expensive asset then buy it outright.
Actually if you have spare cash at any time I would buy outright, but more so now than ever.
This!Actually if you have spare cash at any time I would buy outright, but more so now than ever.
It’s getting comical on these threads as it seems people are totally oblivious to what’s happening out there. The days of cheap money has ended and really people who need finance to buy a luxury vehicle ie a Porsche should stay away.
Dealers right now will be worried looking out at their stock on massively marked up GTS’s , GT3 etc…..
By February next year reality should have truly kicked in and a lot of people paying £1300+ a month for a bright shiny sports car should be thinking it wasn’t the best idea!
If you have the spare cash then buy it but the fact you are already seeing posts of people being offered a new Taycan and GTS 992 when they walk into a dealer should make you worried. Only if you need finance that is.
W12GT said:
This week I had a call about a cancelled order on an unregistered Taycan 4S ST which is sitting at the dealership and I’ve put a deposit on pending me being happy with the colour as it’s Carrara White and I’ve not seen one in the flesh.
I usually buy outright but given the current climate I’m thinking I may go the PCP route. I’ve been quoted 10.9% regardless or deposit size or term. Apparently the rate is going up to 11.9% in December. Has anyone had a better rate on a new car in the last month?
Also wondering if the person who was buying it loses their deposit if they’ve cancelled at the point the car was delivered to the dealer?
You normally pay cash for a car but now you want to take finance out on a car which will drop like a stone at 11%, doesn’t make sense to! I usually buy outright but given the current climate I’m thinking I may go the PCP route. I’ve been quoted 10.9% regardless or deposit size or term. Apparently the rate is going up to 11.9% in December. Has anyone had a better rate on a new car in the last month?
Also wondering if the person who was buying it loses their deposit if they’ve cancelled at the point the car was delivered to the dealer?
If you have the cash and want the car negotiate a price and buy it, let’s not forget someone else cancelled it as they felt it didn’t make sense financially…. abd they were probably using finance but missed the cheap finance boat!
A white Tycan will be a hard sell in the future.
Edited by GT4RS on Monday 28th November 23:01
So many people are thick. If you own a business and can take out what you want, cash is miles more expensive than finance because you pay 60%+ tax on income above 100k
NI = 12%
Employers NI = 15%
Income tax = 45%
So if you own a business, and take 100k cash out to buy a car, you need to actually take out around £210k to buy it as cash.
Dividends aren't much different
Corporate tax = 26%
Dividend tax = 38%
So again, you need to earn / take out 200k+ to pay 100k post tax
Debt is tax free.
NI = 12%
Employers NI = 15%
Income tax = 45%
So if you own a business, and take 100k cash out to buy a car, you need to actually take out around £210k to buy it as cash.
Dividends aren't much different
Corporate tax = 26%
Dividend tax = 38%
So again, you need to earn / take out 200k+ to pay 100k post tax
Debt is tax free.
Wealth has nothing to do with finance or cash as long as you can afford either. For business owners it mostly makes sense to use finance for the reasons cited above.
However for an equivalent earner as an employee on PAYE it’s far cheaper to use cash due to polar opposite tax policy.
However for an equivalent earner as an employee on PAYE it’s far cheaper to use cash due to polar opposite tax policy.
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