Finance
- Thread starter m4ttc
- Start date
Delbox
New member
I've had BMW's before - but that wasn't the driver for using BMW Finance; it was just the rate that attracted me; I have used Porsche finance previously. The Porsche is financed on Balanced Payments and has a variable rate that equates to 1.8% above the FHBR.
You could do worse than call Gareth Williams:
[blockquote]
Gareth@Bespoke-Auto.co.uk
Call me on 01276 855171 (Office) or 07887 950400 (Mobile)
Consumer Credit Licence and Data Protection Registered [/blockquote]
Gareth will give you impartial advice and could even source your car for you; it costs nothing to call! Tell him that Del gave you his name.
Gareth sourced my car for me; I took delivery 3 weeks after I employed his services - and he sourced the finance deal for me too.
Del
You could do worse than call Gareth Williams:
[blockquote]
Gareth@Bespoke-Auto.co.uk
Call me on 01276 855171 (Office) or 07887 950400 (Mobile)
Consumer Credit Licence and Data Protection Registered [/blockquote]
Gareth will give you impartial advice and could even source your car for you; it costs nothing to call! Tell him that Del gave you his name.
Gareth sourced my car for me; I took delivery 3 weeks after I employed his services - and he sourced the finance deal for me too.
Del
david_yorkshire
New member
you use finance ?!
cash is king !
cash is king !
m33Porsche
New member
Put your cash into an asset that appreciates.
I use Porsche finance as it offered an accelerated rate of capital repayment vs interest repayment.
m33porsche
sidicks
PCGB Member
Isn't that a totally meaningless statement ?
Regardless of the method of finance, a car is still a depreciating asset, and hence you suffer the depreciation.
Economically, it should be better to use cash to fund the purchase as the cost of finance will exceed the cost at which money can be invested (risk free). In practice, often people don't have the cash and therefore need some form of finance, or are happy to use cash to fund more risky asset strategies to outperform the cost of finance.
Sidicks
Guest
New member
I used porsche finance - and negoitiated on the rate - I went in with a few quotes a rate a significant amount lower than the quoted rate.
Re the cash is king comment - depends on personal circumstances - sometimes you would be stupid to finance the car with cash - I am self employed - the business proportion of the interest goes against tax - 90% of my miles are business miles so 90% of interest goes against tax so effectively I pay less than BE base rate to borrow the money for the car, and the cash that would have otherwise been tied up in the car can be used elsewhere, so win win.
Re the cash is king comment - depends on personal circumstances - sometimes you would be stupid to finance the car with cash - I am self employed - the business proportion of the interest goes against tax - 90% of my miles are business miles so 90% of interest goes against tax so effectively I pay less than BE base rate to borrow the money for the car, and the cash that would have otherwise been tied up in the car can be used elsewhere, so win win.
david_yorkshire
New member
err no;
the car depriciates AND you pay interest on the loan ; how can that be better than paying the depriciation, AND gaining interest on any further investments ?
Unless you know of better banking facilities that I do, I can't seem to loan at a lower interest rate than I can invest (risk averse)
David
the car depriciates AND you pay interest on the loan ; how can that be better than paying the depriciation, AND gaining interest on any further investments ?
Unless you know of better banking facilities that I do, I can't seem to loan at a lower interest rate than I can invest (risk averse)
David
It seems it's really a horses for courses thing - some folk prefer to buy outright, others prefer to finance so that they can plan their payments within their monthly cash flow (and know exactly how much will be expended each month/quarter).
I personally prefer to purchase outright, but I can understand those that prefer to do otherwise.
At the end of the day, if it gets you in the car of your dreams and you can afford it, then why not?[
]
It's just different routes to the same goal!
And depreciation? Well a decent bottle of plonk and a good meal disappear pretty quickly but that doesn't mean I didn't enjoy the process!![]
Forget the financial statements and lets all get on with enjoying our porsches!
Vroom![][]
Rob
I personally prefer to purchase outright, but I can understand those that prefer to do otherwise.
At the end of the day, if it gets you in the car of your dreams and you can afford it, then why not?[
]It's just different routes to the same goal!
And depreciation? Well a decent bottle of plonk and a good meal disappear pretty quickly but that doesn't mean I didn't enjoy the process!![
]Forget the financial statements and lets all get on with enjoying our porsches!
Vroom![
][]Rob
Gordon Attar
New member
There is rather a lot of non depreciating Porsches about
m33Porsche
New member
Yes indeed - Polish slave trade buts that's another story.
It's only part financed so the amount of capital, hence interest isn't bad and what I do pay can be part offset as it's primarily for business.
So yes I am funding depreciation and interest but have more capital to invest elsewhere and for me this more than compensates for the interest.
as was said horses for courses - main thing is I bloomin luv it
m33porsche
Guest
New member
£85,000 cash sitting in my account - do I use it to buy the porsche outright or do I borrow £85,000 from porsche and use the money elsewhere? its personal circumstances again.. because of business miles usage , the rather good rate I negotiated from porsche and using the money instead for other investments I make approx £22 after tax for every £100 borrowed from porsche compared with tieing the cash up in the porsche...
The depreciation is separate issue as the vehicle will depreciate whether or not you borrow money to pay for it.
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