So thats how Chris Harris affords his cars

So thats how Chris Harris affords his cars

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Streetrod

Original Poster:

6,464 posts

170 months

Friday 7th October 2011
quotequote all
Evo magazine for various reasons gets a lot of comment on this site, with a reasonable proportion of that on how Chris Harris, a mere journo can afford the cars he has.

Anyway in this months new issue Chris reveals all when outlining his new purchase a Porsche 911 GT3 RS 4.0, lucky git.

Anyway this is how the figures read:

List price £135.276 including options

He sold his old GT3, which apparently he has lost more on than any car he has owned, added a £15k deposit and paid an extra £1150.42 on his debit card. And to top it off he borrowed £100k from Porsche Finance at 8.52%.yikes

The HP agreement is over 4 years with the residual value of the car set at £81,902. This all adds up to monthly payments of £1280.71 which is more than I pay on my mortgage in a smart part of Surrey.

So there you go. It does beg the question how much EVO pay's its journo's and does Chris just have a huge pot of cash sitting around for such things?

Personally I say good luck to him, he buys the cars he loves with his own loot, which considering he has access to more cars that most of us could ever dream of sets him out as a good egg in my books.

2slo

1,995 posts

131 months

Friday 7th October 2011
quotequote all
His choice at the end of the day. Personally I'd rather drive something less valuable but which I'd saved and paid for.

Streetrod

Original Poster:

6,464 posts

170 months

Friday 7th October 2011
quotequote all
The Crack Fox said:
Streetrod said:
he borrowed £100k from Porsche Finance at 8.52%.yikes
Do you believe that, or is this a subliminal Porsche advert from Chris 'Porsche' Harris ? If it's true then he's an idiot. IMO.
He states that as a journalist he does not qualify fot the Balance Payment Finance (where the interest on the loan isn't front loaded into the earlier repayments) and therefore had to take the rate he was given

Luke.

9,497 posts

214 months

Friday 7th October 2011
quotequote all
I thought it was all family money?

J4CKO

33,333 posts

164 months

Friday 7th October 2011
quotequote all
He may have personal wealth, an inheritance, investments, a wealthy partner, a window cleaning round on the side ?

Anyway, its not of our business !

hornetrider

63,161 posts

169 months

Friday 7th October 2011
quotequote all
Streetrod said:
Evo magazine for various reasons gets a lot of comment on this site, with a reasonable proportion of that on how Chris Harris, a mere journo can afford the cars he has.

Anyway in this months new issue Chris reveals all when outlining his new purchase a Porsche 911 GT3 RS 4.0, lucky git.

Anyway this is how the figures read:

List price £135.276 including options

He sold his old GT3, which apparently he has lost more on than any car he has owned, added a £15k deposit and paid an extra £1150.42 on his debit card. And to top it off he borrowed £100k from Porsche Finance at 8.52%.yikes

The HP agreement is over 4 years with the residual value of the car set at £81,902. This all adds up to monthly payments of £1280.71 which is more than I pay on my mortgage in a smart part of Surrey.

So there you go. It does beg the question how much EVO pay's its journo's and does Chris just have a huge pot of cash sitting around for such things?

Personally I say good luck to him, he buys the cars he loves with his own loot, which considering he has access to more cars that most of us could ever dream of sets him out as a good egg in my books.
WHAT!

48k in payments over 4 years and he has an 82k balloon! Jesus titty fking christ!

Still, fair play to the bloke for spending all his spare cash on his passion.

MitchT

13,499 posts

173 months

Friday 7th October 2011
quotequote all
The Crack Fox said:
Streetrod said:
he borrowed £100k from Porsche Finance at 8.52%.yikes
Do you believe that, or is this a subliminal Porsche advert from Chris 'Porsche' Harris ? If it's true then he's an idiot. IMO.
Not a great advert if that's the rate they're charging!

Perhaps some (or all) of EVO's writers are part owners of the magazine and are charging the cars to the business as items required to conduct business, in the same way that a graphic design company (for example) would pay for Apple Macs for its designers to use.

Mikeyplum

1,612 posts

133 months

Friday 7th October 2011
quotequote all
I thought he still had the umpteen millions pounds stuffed under his matress from where he sold a radio station or something...

skilly1

2,222 posts

159 months

Friday 7th October 2011
quotequote all
Mikeyplum said:
I thought he still had the umpteen millions pounds stuffed under his matress from where he sold a radio station or something...
You might want to re-read the title.

gashead1105

467 posts

117 months

Friday 7th October 2011
quotequote all
On those figures he got less than 20k for his 997.1 GT3. So he lost 40k in less than a year on a GT3? Surely that can't be right?

Presuming Ed

1,078 posts

172 months

Friday 7th October 2011
quotequote all
When he ends up selling the car in 6 months time for more then he paid for it then I'm sure the £1200pm payments will mean nothing. I saw a 4.0 RS up for £199k last month, Now that might not have sold but I do know of ones going for 150k plus.

Mikeyplum

1,612 posts

133 months

Friday 7th October 2011
quotequote all
skilly1 said:
Mikeyplum said:
I thought he still had the umpteen millions pounds stuffed under his matress from where he sold a radio station or something...
You might want to re-read the title.
getmecoat

[hands in membership]

m1980k

28 posts

125 months

Friday 7th October 2011
quotequote all
It's an interesting point and ultimately it comes down to choice. I often 'joke' to my wife that if it wasn't for her I'd be living in a cheap shared house with mates and driving an Aston Martin. Instead I 'choose' (I have no real choice in the matter) to pay a mortgage on a flat in London that I share with her, furnish it, take holidays so she can top up her tan etc. If cars are your passion you can just sacrifice other things.

I doubt Harris earns peanuts, but there are probably other people on ph that earn more but spend their cash on mortgages, kitchens, holidays, beer, clothes, 50" TVs etc, etc, etc

TonyHetherington

32,086 posts

214 months

Friday 7th October 2011
quotequote all
hornetrider said:
48k in payments over 4 years and he has an 82k balloon!
...and a rare Porsche, widely exclaimed to be one of the best ever made. A confident man would hope to not lose too much, other than interest, on a few years in the seat.

Nevertheless, the guy does exactly what lots of people here do - get as much car as they can for their situation. Fair play to him smile

And, honestly, it's not exactly our business where his money comes from.

Gruber

6,288 posts

178 months

Friday 7th October 2011
quotequote all
Chris's father (Rolf, the legendary Australian entertainer) handed over his PRS rights to Chris in an inheritance tax planning wheeze a few years back and so Chris funds his car passion through the royalties to Jake the Peg and Two Little Boys.


That's my theory anyway.

1

2,723 posts

200 months

Friday 7th October 2011
quotequote all
Streetrod said:
Evo magazine for various reasons gets a lot of comment on this site, with a reasonable proportion of that on how Chris Harris, a mere journo can afford the cars he has.

Anyway in this months new issue Chris reveals all when outlining his new purchase a Porsche 911 GT3 RS 4.0, lucky git.

Anyway this is how the figures read:

List price £135.276 including options

He sold his old GT3, which apparently he has lost more on than any car he has owned, added a £15k deposit and paid an extra £1150.42 on his debit card. And to top it off he borrowed £100k from Porsche Finance at 8.52%.yikes

The HP agreement is over 4 years with the residual value of the car set at £81,902. This all adds up to monthly payments of £1280.71 which is more than I pay on my mortgage in a smart part of Surrey.

So there you go. It does beg the question how much EVO pay's its journo's and does Chris just have a huge pot of cash sitting around for such things?

Personally I say good luck to him, he buys the cars he loves with his own loot, which considering he has access to more cars that most of us could ever dream of sets him out as a good egg in my books.
Where did you get the £1280 monthly payment figures from? £100k over 48 with £82k baloon at 8.5% should make it much less than that?

Regarding how he affords it. Lots of people pay £1k towards a car/toy/hobby. The real killer is depriciation which he should'nt suffer with too much on this particular car as it has a very good chance of appriciating in value.


Edited by 1 on Friday 7th October 13:43

2slo

1,995 posts

131 months

Friday 7th October 2011
quotequote all
Come on Chris, you've googled your name and found this thread, get on here and put us right. Plato did wink





p.s. make sure you've got a tin of custard first biggrin

Streetrod

Original Poster:

6,464 posts

170 months

Friday 7th October 2011
quotequote all
1 said:
Streetrod said:
Evo magazine for various reasons gets a lot of comment on this site, with a reasonable proportion of that on how Chris Harris, a mere journo can afford the cars he has.

Anyway in this months new issue Chris reveals all when outlining his new purchase a Porsche 911 GT3 RS 4.0, lucky git.

Anyway this is how the figures read:

List price £135.276 including options

He sold his old GT3, which apparently he has lost more on than any car he has owned, added a £15k deposit and paid an extra £1150.42 on his debit card. And to top it off he borrowed £100k from Porsche Finance at 8.52%.yikes

The HP agreement is over 4 years with the residual value of the car set at £81,902. This all adds up to monthly payments of £1280.71 which is more than I pay on my mortgage in a smart part of Surrey.

So there you go. It does beg the question how much EVO pay's its journo's and does Chris just have a huge pot of cash sitting around for such things?

Personally I say good luck to him, he buys the cars he loves with his own loot, which considering he has access to more cars that most of us could ever dream of sets him out as a good egg in my books.
Where did you get the £1280 monthly payment figures from? £100k over 48 with £82k baloon at 8.5% should make it much less than that?

Regarding how he affords it. Lots of people pay £1k towards a car/toy/hobby. The real killer is depriciation which he should suffer with too much on this particular car.
I am quoting from this month’s EVO magazine that dropped on my doorstep about an hour ago.

By the way they have a good article on the V8 Ferrari’s dating from the 308 to the 458. The pics of all the cars in profile is very good as it really shows off the development of the V8 cars over the rears

epom

7,579 posts

125 months

Friday 7th October 2011
quotequote all
custard...custard !!

V8mate

44,537 posts

153 months

Friday 7th October 2011
quotequote all
MitchT said:
The Crack Fox said:
Streetrod said:
he borrowed £100k from Porsche Finance at 8.52%.yikes
Do you believe that, or is this a subliminal Porsche advert from Chris 'Porsche' Harris ? If it's true then he's an idiot. IMO.
Not a great advert if that's the rate they're charging!

Perhaps some (or all) of EVO's writers are part owners of the magazine and are charging the cars to the business as items required to conduct business, in the same way that a graphic design company (for example) would pay for Apple Macs for its designers to use.
Indeed. If he's staff, it could easily just be his company car allowance.