Hi milage sports car financing

[barrieeld]

Quick question does anyone know of any specialists that do PCP (with balloon) on sports cars e.g 977 turbo etc but with high miles 100k +?


I know most companies won't finance a car on PCP if it is likely you'll go over 100k within the duration of the term so wondered if anyone has or knows any companies who might consider such a financing option?

Reverting over into standard HP makes the monthlies very expensive.

Thanks in advance!

[Howard-]

If you think the finance on a leggy 997 Turbo is expensive then you'll be in for a shock when you start to experience the running costs.

Sadly it doesn't sound like you can afford a car like this.

[CYMR0]

I agree with the post above but aside from that, the resale on something like that is quite unpredictable - if it goes bang then you might be able to hand back under a classic finance agreement, so either you pay a whole load of interest on a high retained value or you depreciate the car to a level in line with the finance company's tolerance for risk, and the payments are expensive anyway because they probably charge more interest than a bank loan.

If a bank loan isn't affordable, it's because a car like this isn't affordable, full stop.

[barrieeld]

I didn't ask for an assessment of my financial situation...I just said I'd rather have a balloon option and pay less per month with an opt out after the term as a high mile 997 will be a tough sell.

I've owned 3 911s one being a turbo and am more than aware or their ownership costs. These cars were newer so pcp was applicable but this is an older but high miler car that has been looked after so im interested.

If pcp isn't viable I'll finance it another way I just wanted to ask about the above as I was "curious"

Thanks in advance

Edited by barrieeld on Monday 8th September 13:28

Edited by barrieeld on Monday 8th September 13:29

[CYMR0]

barrieeld said:

I just said I'd rather have a balloon option and pay less per month.

Fair enough but for the reasons I've explained, having a balloon option is likely to cost significantly more overall than an outright purchase financed by a bank loan, so that if it truly is affordable, a balloon (if available) would not be a rational choice - and companies obviously don't waste time bringing uncompetitive products that are only marginally profitable to market.

[barrieeld]

Thank you for answering my question.