Menu toggle

Porsche Balanced Payments

Guest

Guest

New member
I am sure everyone on this Forum doesn't need to finance their new 987...but I do!!! :)

However, can anyone suggest a good finance company as an alternative to Porsche. The guy I spoke to at OPC seemed to think, by default, I was going to finance with him but I would like to benchmark his numbers.

Thanks in advance.
 
They do seem very insistent that you take finance from Porsche don't they, its a bit off putting.

I think if memory serves correct, the TV car shows all say that the best place to get finance from is usually a the supermarket lenders like Tesco.
 
There is a facility on autotrader that lets you search for loans I did a quick search the other day, rates looked reasonable though the cheapest wasn't if you want insurance about the 3rd one was.
Tony
 
You could try having a look at these sites they are great for searching out best rates for loans, savings and anything financial related. Hope it helps.

www.moneyfacts.co.uk
www.moneysupermarket.com
 
Capital Bank, but I believe that Porsche's Balanced Payment Plan is funded by Capital.

You could try Hermes Leasing - they gave me a good quote on our new Boxster. I went with Capital becuase they gave a higher balloon.

The Porsche deal is good but I believe that you can get stung because the interest rate is linked to base rate.
 
Alliance and Leicester are also good with loans... and also have the facility for a "ballon" payment. Check it out online for a better rate of interest....

Charlie
 
If you have a flexible mortgage and some equity on the house then that may be the way to go. You can finance the whole sum of the car and just choose to pay the depreciation element (in effect giving a balloon payment) or pay the whole lot. The term will be as flexible as you want it although you wouldn't want it to be over the term of the mortgage........unless you are keeping the car until its a classic (it is already of course)
If you have neither a mortgage or equity then please ignore the above!!
 
Try your bank. I use Nat West and they have been quite comfortable, in the past, lending with a balloon payment etc. Their rates are also more competitve than Porsche.
My personal warning is to beware of finance shemes that dramatically reduce payments with a balloon at the end. Firstly you're gambling on residuals and secondly work our what it really costs you. Significant upfront payment, monthly instalments and nothing at the end. To me its the equivalent of renting the car.
 
Working as a Finance Manager within the motor trade do I answer this with my company hat on or the guy attempting to arrange finance on his Porsche [;)] firstly PCP's can look attractive due to the deferment / guaranteed risdual / balloon payment ( be careful as to which of these the PCP carries ) but overall CAN be an expensive way to fund the vehicle and may not be cheaper than a traditional HP deal with rebate of interest charges if obtainable on HP being a reasonable way of repaying the loan early. PCP with rebate of interest charges are also quiet common. 4% Flat should be obtainable from a main dealer and a large balance of borrowing will normally help negotiate better terms.

Direct Lender eg Northern Rock, A&L, Direct Line and Natwest can be very cheap on the APR front but be careful to ensure you have got the competive APR as clever advertising and stringent credit scoring can be used to entice but beating a dealer rate on straight Personal Loan should be 8/10 but again convenience and speed if only down to a nominal amount may make the dealer finance seem ok.

Always shop and then give the OPC a bell if they want the business and it can be done without a financial loss then they are likely to do it .

Cheers
 
I am sure everyone on this Forum doesn't need to finance their new 987...but I do!!! :)
Click to expand...

I would need to too!

Tesco's was the cheapest when I bought my car in 2000 - just 5 payments to go!!!![:)]

JCB..
 
Most useful information...thanks.

I gave the OPC Lex's figures and guess what.....they came back with a better offer!!!
 
You must log in or register to reply here.

Posts made and opinions expressed are those of the individual forum members

Use of the Forum is subject to the Terms and Conditions

Disclaimer

The opinions expressed on this site are not necessarily those of the Club, who shall have no liability in respect of them or the accuracy of the content. The Club assumes no responsibility for any effects arising from errors or omissions.

Porsche Club Great Britain gives no warranties, guarantees or assurances and makes no representations or recommendations regarding any goods or services advertised on this site. It is the responsibility of visitors to satisfy themselves that goods and/or services supplied by any advertiser are bona fide and in no instance can the Porsche Club Great Britain be held responsible.

When responding to advertisements please ensure that you satisfy yourself of any applicable call charges on numbers not prefixed by usual "landline" STD Codes. Information can be obtained from the operator or the white pages. Before giving out ANY information regarding cars, or any other items for sale, please satisfy yourself that any potential purchaser is bona fide.

Directors of the Board of Porsche Club GB, Club Office Staff, Register Secretaries and Regional Organisers are often requested by Club members to provide information on matters connected with their cars and other matters referred to in the Club Rules. Such information, advice and assistance provided by such persons is given in good faith and is based on the personal experience and knowledge of the individual concerned.

Neither Porsche Club GB, nor any of the aforementioned, shall be under any liability in respect of any such information, advice or assistance given to members. Members are advised to consult qualified specialists for information, advice and assistance on matters connected with their cars at all times.

Porsche
Lockton
Pirelli
Officially approved
Oracle Finance
WEX Esso
Collecting Cars
Back
Top