Financing a 911

Author
Discussion

911nutter

Original Poster:

1,916 posts

253 months

Friday 23rd May 2003
quotequote all
I bought a 996 C4 about 2 years ago, and for some reason decided to sell it in November last year. Now I need another and am looking at a c4S.

Problem is finance. The old deal I had wa financed over 3 years in the following way : £20k deposit, 11m @£225 + 1m @£4000, repeated for 3 years but with the final balloon of around £40k.

Now I want to do the same again, AFN (where my new C4s is waiting for me) won't do the same deal. Does anyone out there know a company that will offer this type of package?

jjr1

3,023 posts

262 months

Friday 23rd May 2003
quotequote all
does the above mean you pay £74,474 overall for the car?

If so how much did it cost list?
If the residual is above 40,000 at the end this seems good but a tad expensive if below or am I being stupid?

HermanTheGerman

228 posts

268 months

Friday 23rd May 2003
quotequote all
I make it £79,425 or am I being stupid.

RoadRunner

2,690 posts

269 months

Friday 23rd May 2003
quotequote all
What kind of calculator are you using?!

RoadRunner

2,690 posts

269 months

Friday 23rd May 2003
quotequote all
79k Seems bloody expensive. The trade in will be about 50k when you've finished too.

HermanTheGerman

228 posts

268 months

Friday 23rd May 2003
quotequote all

RoadRunner said: What kind of calculator are you using?!


Me or JJ ?

welshchris

1,179 posts

256 months

Friday 23rd May 2003
quotequote all
Why not just bank you bonus each year, do a deal for equal payments, and set up a S/O - that way you get to earn interest on your money - or am I being daft here?

RoadRunner

2,690 posts

269 months

Friday 23rd May 2003
quotequote all
I read the post as:

A. 225 x 33 months = 7425

B. 4000 x 3 months = 12000

A + B + 60k = 79425 total

911nutter

Original Poster:

1,916 posts

253 months

Friday 23rd May 2003
quotequote all
ok ok .... 20k deposit ; 225x33 ; 4000 x 2 ; 39k

that was the deal... total £74,425.

i'm not claiming it's a cheap way to buy a car, all i'm looking for is a compnay out there who can do this (although since the original posting afn have been told by bank of scotland (the finance company) that they can still do it, so i'm waiting for tehe structure of my new deal to allow me to become the happy owner of the c4s.

i have owned about 15 cars in the last 6 years, and have lost about £80k in depreciation, and although is a hefty sum, i don't regret any of it one bit. cars and speed are simply marvellous.

RoadRunner

2,690 posts

269 months

Friday 23rd May 2003
quotequote all
Oi - nutter!!

madou

366 posts

253 months

Friday 23rd May 2003
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if you need finance this badly should you be buying ?

admire people that take the initial hit and let me do a cash deal a few years down the line ...

gemini

11,352 posts

266 months

Saturday 24th May 2003
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Just buy a TVR and give me the surplus!

F1-RED

19 posts

255 months

Monday 26th May 2003
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Just bought a C4Cab and financed it with premierfinance.com who were really excellent. I did deposit+36months+balloon and the overall rate was very low and everything was sorted in two days. I found it worked quite well to have some figures worked out beforehand to give them something to match. After discussions with many finance houses I found offers ranging from effectively paying back 119% over the term (i.e. borrow 60K pay back £71.4 overall, this is the most important thing to look at, the overall cost you would pay) to ones where you would pay back more than 130%. I rang premierfinance and gave them the lowest figures I had and they came back in a couple of hours with a better deal. I worked with Jackie Oborne
Premier Finance Services Ltd 01932 822 544 www.premierfinance.com who was very helpful and really helped me get a good deal that no-one else could get anywhere near matching. Good hunting!

dyb

120 posts

285 months

Tuesday 27th May 2003
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<>

Come D*** H*** most of us in the real world need finance that bad.

dyb

120 posts

285 months

Tuesday 27th May 2003
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<>

And lose a poo load of money with 2-3 times the servicing costs. No thank you done that.

RoadRunner

2,690 posts

269 months

Wednesday 28th May 2003
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Buying a used 911 for cash and getting independent servicing makes sooooo much sense.

domster

8,431 posts

272 months

Wednesday 28th May 2003
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I looked into all sorts of PCP schemes etc and Lombard did one, but after a bit of work for Mercedes Finance, I can promise you that these guys are out to screw you.

The cheapest way to buy a car still is 1) cash, 2) remortgage equity and then 3) unsecured personal loan

But these may not suit you, so just mentioning it for info. Lombard are worth chasing for a PCP plan.


BrianM

50 posts

265 months

Wednesday 28th May 2003
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Did mine through Bank of Scotland Asset finance. 35x monthly plus final baloon and a fixed 3% rate.

bennno

11,874 posts

271 months

Wednesday 28th May 2003
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domster said: I looked into all sorts of PCP schemes etc and Lombard did one, but after a bit of work for Mercedes Finance, I can promise you that these guys are out to screw you.

The cheapest way to buy a car still is 1) cash, 2) remortgage equity and then 3) unsecured personal loan

But these may not suit you, so just mentioning it for info. Lombard are worth chasing for a PCP plan.




Depends on what you want really, Porsche finance can undercut most personal loan rates, and some people just want to pay a low figure each month in which case PCP schemes have some benefit.

From experience though its normally just 1 deposit, 36 or 48 at x, then a final payment - the scheme at the bottom of this thread seems complex to say the least.

Bennno