Financing Porsche 718 Spyder over cash

[MrChips]

First time wandering into this part of PH... hope everyone's just as friendly as the others!

So i have an order in for a new 718 Spyder, and whilst it's not confirmed, build slot likely to be around the end of the year. Including all options, price is around £89k.

The residuals on these cars are currently very strong, with 18month old examples still going for above list. I have cash in the bank to be able to pay for it outright, but have started to think with strong residuals then I could look at financing some of the car and keep some cash back in an S&S Isa etc to offset the risk and keep some liquidity.

So what should I be looking for? A PCP deal through the dealer? Or can I secure a better finance product through an independent finance company?

This will be my first purchase of this magnitude so I'm looking for any opinions for things I need to consider!

[reapercushions]

How long are you planning on keeping it?

[MrChips]

reapercushions said:

How long are you planning on keeping it?

Likely 2yrs at a minimum, assuming I love it!

[soxboy]

The Porsche forum and Finance forum on here is a good place to look.

I note that companies like Magnitude and Oracle seem to come highly recommended - I believe there may be a link to Magnitude in the Finance section.

I would be very interested to know how they compare with official Porsche finance.

[rosejem]

My gut feeling is this Porsche will still be a depreciating assett , & unless you feel you may need part of the money for an other reason. I would pay outright.

The dealer may offer a small discount for taking out Porsche finance in which case take it & pay it off in full at the first opportunity.

[ZX10R NIN]

The finance deals normally come with incentives like the a free service etc see what Porsche is offering & go from there, remember once you've taken the incentives there's nothing to stop you paying off the finance early.

[J1990]

Without a crystal ball it's impossible for anyone to predict what your £89k Porsche will be worth in a few years. Some people think the market will return to 'normal', but what's to say this isn't the new normal? At the same time, when the world opens up and people are travelling and spending money on other luxuries, will the value of fun cars drop a little?

Personally, I expect taxes to increase to pay off the COVID costs (furlough, vaccinations etc) and that's unlikely to hit the lower bracket, so it's more likely to be those buying this type of car. If that happens, will it be enough to impact the used market for 'toys' for those in the higher brackets? Maybe... But that's speculation based on what some idiot (me) thinks.


Does that £89k being sat in the bank/ISA/whatever mean more to you than the monthly payment you'd be facing? The latter has a defined maximum that it can cost you over the term, the former is a gamble that could pay off nicely but could cost you significantly more than financing - though actuaries work hard to make sure the finance company is protected, so that seems unlikely.