40K Deposit on a 599

its an odd change.. i mean he went from a mental epic car to an epic GT/cruiser more like.. i know 599 is a capable car but i have never looked at it as a proper sports car that rs 4.0 is..
 
DAIR said:
Same here. However, he said it cost him 10k over 8 months iirc!
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It made him 40k!

The 10k cost was what he'd paid on finance. Reality is if you deduct that cost, the car made him a 30k profit. :)

If only I'd have known, I'd a purchased a 4.0 RS brand new from Porsche, owned it for a year and done the same. But as would most of us if we could predict they'd appreciate the way they have.
 
£40k down and only £350/month?

How the heck?

By my maths that's a 151 month loan without interest... so probably more like 180-210 month loan.

Can you really get 15+ year car loans?
 
Gibbo said:
It made him 40k!

The 10k cost was what he'd paid on finance. Reality is if you deduct that cost, the car made him a 30k profit. :)

If only I'd have known, I'd a purchased a 4.0 RS brand new from Porsche, owned it for a year and done the same. But as would most of us if we could predict they'd appreciate the way they have.
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Ooohhh... I mis-read... sounded like he put £40k down against the Ferrari and was then paying only £350/month... lol
 
Though I would like more details on his current finance deal, purchases 90k, puts 40k deposit and leaves 50k on finance. Yet pays only £350 a month, I am guessing there is some crazy baloon figure at the end of that?
 
Gibbo said:
Though I would like more details on his current finance deal, purchases 90k, puts 40k deposit and leaves 50k on finance. Yet pays only £350 a month, I am guessing there is some crazy baloon figure at the end of that?
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Ahhh... I keep forgetting about PCP

Guess the residuals are rather high :)
 
crinkleshoes said:
Ooohhh... I mis-read... sounded like he put £40k down against the Ferrari and was then paying only £350/month... lol
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Nope he has done that too!

The Porsche made him a 40k profit.
It cost him 10k in finance over the period he owned it, but even accounting for that it still made him 30-40k due to appreciation.

The only actual running cost of a brand new 911 would be fuel, any issues warranty would cover.

He has now taken his 40k profit he made on his 911 and dropped 40k deposit against a 90k Ferrari 599GTB and left the remaining 50k on finance at £350 a month which must have some crazy kind of baloon payment at the end or is over many many years, though generally car finance can only be a max of 10yr against a brand new car and less on used cars as the car must be 10 years or younger when the final payment is made.
 
i think its interesting that he has bought a ferrari after his long rant not so long ago about how theyre so flawed and the myth is all created by the tweaked press cars
 
If that's the case then, he's probably got a 5 year PCP deal... meaning:

£350x60 = £21k

With interest... I'm guessing ~£35k-40k GFV... guess that's quite a bit lower than it really will be.

Makes sense now... now to find £40k... lol
 
I know the 599 is a hugely superior car in every respect but I've always loved the last of the line Vanquish S. I think its going to be a car that appreciates a lot in decades to come. The new Vanquish looks far to chintzy, the old Vanquish was a really handsome car with great proportions. I would have taken a Vanquish but thats just me:p
 
Matt82 said:
i think its interesting that he has bought a ferrari after his long rant not so long ago about how theyre so flawed and the myth is all created by the tweaked press cars
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He never said the cars are flawed at all, his rant was about the ridiculous lengths Ferrari go to ensure their press cars perform above and beyond what any of their road cars will ever achieve and how they actively try and prevent journalists from driving non press cars etc.

He never slated the cars, just ranted about how what you read isn't representative of the cars because of how crazy Ferrari are about controlling information.

In fact he even says: "Its cars are so good it doesn't need this *****."
 
Gibbo said:
Though I would like more details on his current finance deal, purchases 90k, puts 40k deposit and leaves 50k on finance. Yet pays only £350 a month, I am guessing there is some crazy baloon figure at the end of that?
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highly doubt he'll keep wit though.

And when he does get rid of it I'm certain he'll get his money back.... Can't see him going into neg eq
 
panthro said:
Where does it say in that thread he made £40k profit on his 4.0?
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I think people are just assuming it based on him putting down £40k on the 599 and saying he made money on the GT3.

He could have made more and not put all of it into the 599 or he could have other money saved up and only made £20k on the GT3.
 
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