992 Question - Sorry, really boring Finance one
Discussion
Quick question, and hate to be a bore, but new to dealing with Porsche OPC.... Just sorting out finance for my first 911 - a new 992 due in a few months, had the quote and tbh its in expected budget monthlies wise, just wanted to make sure it was about right and if there was any room for negotiation APR wise.
Cut to the chase - £100k car, £15k down, 4yrs, 6k PA, been offered 6.6% APR.
On the face of it, the APR seemed a bit high given the current climate, was expecting just sub 5%. Does that sound about right, or is their a bit of wiggle room on the APR? Clearly its Porsche and beggars cant be choosers and all that.
Cheers
Cut to the chase - £100k car, £15k down, 4yrs, 6k PA, been offered 6.6% APR.
On the face of it, the APR seemed a bit high given the current climate, was expecting just sub 5%. Does that sound about right, or is their a bit of wiggle room on the APR? Clearly its Porsche and beggars cant be choosers and all that.
Cheers
imycool said:
What does furure value mean ?
Future value is used on most PCP finance agreementsPCP explained here
https://www.youtube.com/watch?v=j_caAINWY6w
Edited by 1WEL on Saturday 2nd March 09:00
kbf1981 said:
I got 4.3% Apr on Lombard - £55k future value.
Cheers, that looks really interesting - I was offered £55k on a £100k car, 4yrs, 6k pa by OPC so sounds about right. 4.3% is definitely worth a peek. If nothing else I at least have a bargaining tool. That takes £100+ a month off potentially. Mrs dgswk would be happy about that.Clydesdale also very good speak to ryan dobson
They will do around 4.2/4.3% apr similar to lombard
Bear in mind - the deals from lombard / clydesdale are Hire Purchase with balloon. So the balloon / final value is not guaranteed.
With Porsche i'm assuming its a PCP and thus has a guaranteed final value (at which point you can hand the car back and walk away) whereas that is not the case with HP with balloon deals.
They will do around 4.2/4.3% apr similar to lombard
Bear in mind - the deals from lombard / clydesdale are Hire Purchase with balloon. So the balloon / final value is not guaranteed.
With Porsche i'm assuming its a PCP and thus has a guaranteed final value (at which point you can hand the car back and walk away) whereas that is not the case with HP with balloon deals.
kbf1981 said:
str4nger said:
The best I could find is
£15,000 deposit, over 3 years with a balloon of £71,750, works out 5.6% apr
However I don't intend to keep the car longer then 6-9 moths.
Why just 6-9 months? That's a bloody good deal. Did you set the balloon yourself or did they do it?£15,000 deposit, over 3 years with a balloon of £71,750, works out 5.6% apr
However I don't intend to keep the car longer then 6-9 moths.
trowelhead said:
Clydesdale also very good speak to ryan dobson
They will do around 4.2/4.3% apr similar to lombard
Bear in mind - the deals from lombard / clydesdale are Hire Purchase with balloon. So the balloon / final value is not guaranteed.
With Porsche i'm assuming its a PCP and thus has a guaranteed final value (at which point you can hand the car back and walk away) whereas that is not the case with HP with balloon deals.
Yes, spoke to them today, got a sub £900 monthly, but balloon not guaranteed. Happy with £56k, should be able to move on for that in 4 years via private sale to a specialist easily, given 4yo 991 C2S’s seem to retail for £60k+ Waiiting on Lombard to come back.They will do around 4.2/4.3% apr similar to lombard
Bear in mind - the deals from lombard / clydesdale are Hire Purchase with balloon. So the balloon / final value is not guaranteed.
With Porsche i'm assuming its a PCP and thus has a guaranteed final value (at which point you can hand the car back and walk away) whereas that is not the case with HP with balloon deals.
dgswk said:
Yes, spoke to them today, got a sub £900 monthly, but balloon not guaranteed. Happy with £56k, should be able to move on for that in 4 years via private sale to a specialist easily, given 4yo 991 C2S’s seem to retail for £60k+ Waiiting on Lombard to come back.
£900 a month. I don't know if I'm tight or that is a lot for a car on a monthly basis. How much should folks spend as a percentage of their net salaries?
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