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paulwat

New member
Hi all,

After a few months of searching and deliberating I think I have found my ideal car (an 06 Boxster S) and am now looking at ways to finance my purchase.

I have had a quote from Porsche finance which dosn't seem to be particularly competitve when compared with a simple personal loan from a high street bank.

Can anyone recommend any finance companies that specialise in financing pre owned porsches, would prefer to look at companies via recommendation rather than a simple trawl of the web

Regards

Paul

 
Hi Paul,

Just a thought - I went down this route too, and eventually got together a couple of competitive quotes and went back to Porsche with them, and they matched it, which made the purchase easier overall :)

I got some good quotes from www.Autobytel.co.uk and www.car-finance.net. I have also financed a car previously with car-finance.net, which went very well, and has now been paid up. This was only because BMW would not match their quote :)

Hope this helps.

Regards,
Graeme
 
Porsche Finance are normally quite good, though they are a subsidery of Capital Bank Motor.

It's not the finance company themselves that determine the initial rate, it's the dealer, speak to your OPC ask them what rate they set the finance at, they should then give you a flat rate %age, if you tell me on here or PM me I'll tell you if theres much room for movement on the rate.

Things I will need to know are, is the car new or used? How are you looking to finance it, HP, PCP etc.

OPC's are out to make their money and doing the rate at 6% or 8% can make all the difference to your payment especially if you are financing a high amount.
 
Hi,

Thanks for the responses, without going into too much detail, car is pre owned and I am proposing to put down 30% as a deposit (dealership was suggesting just 10%) with a final balloon of just over 40%. Flat 5% interest rate was mentioned over phone. It was for 3yr, 18K total mileage

Based on a quick calculation with the my bank I could take out a personal loan for the ammount that would affectively be financed by Porsche and pay outright for the car over 3years for only about 20% more per month. Doing things this way would save me over 10% of the cars value in finance charges over the term versus Porsche finance.

My plan is to keep the car for a while as it will only be a weekend toy

Cheers

Paul
 
Hi,
I got a very good deal from Lombard in Glasgow for my Boxster last year. Details below :

Gary Kidd
Lombard Relationship Manager

Lombard North Central Plc
Glasgow Business Centre
Minerva Way
Glasgow
G3 8AY
Tel Direct- 0141 531 4025
Main Office - 0141 531 4000
Fax - 0141 531 4048
Mobile - 07917 050763
E-mail - gary.kidd@lombard.co.uk

Regards
Andrew

PS - sorry if this looks like advertising - it's not.
 
Paul, Porsche Finance are trying to switch you into a PCP deal. Ask them for a figure on HP with your deposit of 30% only then can you compare them to your bank loan.

Do you understand the benefits of HP "v" a personal loan? and do you understand exactely what the PCP is and how it works?

5% flat is good.
 
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