Porsche Owners Thread - If you own one or just like or hate them! :)

[AndrewP]

I've had a 718 Boxster T for a couple of weeks while my 987.2 Cayman S is in under warranty and it's really grown on me, a great modern sports car. Looks sharp in silver with dark grey wheels and exterior bits, nice inside with extended leather and red stitching too. Not much engine noise but the exhaust sounds good in sport mode and it's deceptively quick - a bit of lag low down and not quite the shove in the back as from the 6-cylinder but picks up speed nicely. Steering is fine, PDK good with the proper paddles, has PASM and sports chrono too for a very competent drive. There is definitely more wind buffeting at speed than in my old Z4 though. Had a standard Boxster for a week before that which without the extended leather felt quite cheap for a £55k car!

All that said I wouldn't spend 60k on one though, still got a V8 F-Type top of my list!

 

[naefeart]

I've had a 718 and an S for a couple of days each and did my experience day in a 718 GTS (all Caymans) . If I had to go around a track, or had to get from A to B as quick as possible, a 718 S or GTS Cayman would be ideal. However, to live with one and drive for just the sheer pleasure of it, I'd take a 981 Cayman S (or GTS) everytime. Shame, as I like everything about the 718, except the obvious.

 

[Chris1712]

Anyone bought Used Approved lately? Being quoted 6.9% APR and 'Porsche set it' so it's not up for negotiation? Sounds like claptrap to me.

 

[BIGWEB]

That sounds in line with what the other Marques are trying to do.

 

[Gibbo]

Anyone bought Used Approved lately? Being quoted 6.9% APR and 'Porsche set it' so it's not up for negotiation? Sounds like claptrap to me.

Some dealership franchises have hard locks on the interest rates for whatever reason and some are negotiable. Shop around or finance the car by another finance company you can get as low as around 4% now on car finance if you shop around. Alternatively get a bank loan which are around 3%

No reason to really pay over 5% now!

 

[Maccy]

Get in touch with the usual providers, or I can give you the details of the broker I used if you like?
I'm with Paragon and the broker managed to get me 5.4% which is pretty good for an 8 year old car.

 

[BIGWEB]

I think I'm on 5.9% with Dorsia finance who were really good to deal with even though I am a company director etc which muddies the waters with loads of finance companies.

 

[Chris1712]

Some dealership franchises have hard locks on the interest rates for whatever reason and some are negotiable. Shop around or finance the car by another finance company you can get as low as around 4% now on car finance if you shop around. Alternatively get a bank loan which are around 3%

No reason to really pay over 5% now!

Yes my original plan was basically 50% cash 50% personal loan, but I keep looking at aero kit C4S and get weak.

Get in touch with the usual providers, or I can give you the details of the broker I used if you like?
I'm with Paragon and the broker managed to get me 5.4% which is pretty good for an 8 year old car.

I think I'm on 5.9% with Dorsia finance who were really good to deal with even though I am a company director etc which muddies the waters with loads of finance companies.

Would appreciate any third party links, I've never used finance before so it's all new to me. Are they all get on the blower types or do they have good websites? Do you negotiate the car as if you're buying cash and then try the financiers or do you just connect them directly.

 

[RampantMark]

Finance on a Porsche is often best going with a company set up to do just car finance, such as JBR or Oracle.

From experience, we part financed for our 997 gen 1.5 turbo through an independent adviser who did the leg work with JBR. That was 2.5 years ago on around 4% variable (LIBOR rate).

This is my first post in this thread - so I need to post a picture of our turbo at some point.

 

[BIGWEB]

I negotiated the price of the car and then spoke to the finance guy who wrapped everything up.

His name is Des Branson from Dorsia finance +44 7841 764134 tell him he has just financed Pauls 911

 

[RampantMark]

I negotiated the price of the car and then spoke to the finance guy who wrapped everything up.

His name is Des Branson from Dorsia finance +44 7841 764134 tell him he has just financed Pauls 911

Bloody hell, small world - first time I poke my head in this thread and that's also who I used for our car 2.5 years ago...

We've been customers of 911 Sport in Horncastle for many years, and Des was who was recommended by there this time around.

 

[Maccy]

@Chris1712 this is the website for the guy I used - https://www.hensleystephens.co.uk/

He got me the best rate with Paragon, another big finance company, but had access to better rates being a broker etc.

How it worked for me, car was up for 46k and I got a quote for this and then made a lower offer to the dealer which was accepted. I then let the broker know and he got Paragon to adjust the quote accordingly.

 

[Chris1712]

Thanks everyone. Never considered PCP before so any info is helpful . Will bare these in mind!

 

[Chris1712]

This one is really taunting me!

https://finder.porsche.com/gb/en_GB/911-Carrera-4S-Coupe-108774

36 month GFV is 31k, feels like I’d surely get 8-12k back on that but its so hard to tell the margins on PX at this level. Feels like its huge, dealers looking for as much as 20%?

 

[olv]

No paddles and I'm not sure power steering plus is a desirable option. But looks good otherwise.

I would expect the dealer has about £8-10k in it from trade to retail but they may have spent money preparing it. £35-40k in 3 years would seem fair I'd have thought.

 

[Gibbo]

@Chris1712 this is the website for the guy I used - https://www.hensleystephens.co.uk/

He got me the best rate with Paragon, another big finance company, but had access to better rates being a broker etc.

How it worked for me, car was up for 46k and I got a quote for this and then made a lower offer to the dealer which was accepted. I then let the broker know and he got Paragon to adjust the quote accordingly.

Paragon are one of the strongest, but something to point out with them, they will not allow to make over payments of the balloon. Which when I went to pay some of the SVR realised I could not which annoyed me somewhat, but thankfully I was in a position and had cash to settle the agreement in total so did so.

However I've just re-financed with these guys, via HMK-FS but on a rolling 18 month contract which basically allows me to get around the whole not being able to reduce the balloon and they gave me 4.4%, my thinking is in 18 months I shall just refinance, push for even lower rate of around 4% and borrow 20k less, thus reducing what I owe that way.

Our plans for Ferrari are undecided at present, basically going to keep it until free servicing ends, at which point decide to pay it off or sell it and put the money from it elsewhere.

But Paragon are good for competitive rates, just check the over payment situation, if your happy then maybe contact Helen at HMK-FS to see if she can get you upto a further 1% of the rate, worked for me.

 

[Chris1712]

Paragon are one of the strongest, but something to point out with them, they will not allow to make over payments of the balloon. Which when I went to pay some of the SVR realised I could not which annoyed me somewhat, but thankfully I was in a position and had cash to settle the agreement in total so did so.

Sorry what does this mean? Over payments of the balloon? You mean you can't get to any of the equity in the deal (if you have it?)? I was hoping to be in good positive equity at the end of the deal, and at least evens on year 2.

 

[Gibbo]

Sorry what does this mean? Over payments of the balloon? You mean you can't get to any of the equity in the deal (if you have it?)? I was hoping to be in good positive equity at the end of the deal, and at least evens on year 2.

No for example, the SVR was like 80k, I put around 40k down, leaving 40k on tick.

When you make an over payment, you can reduce monthly amount, reduce the term, or pay of the balloon.

So say if you took that 911 at 60k, put 20k in and have £40,000 on tick. You can then choose how you want that 40k on tick, do you do 40k / 36 and pay around £1250ish a month which most people won't do because that is too much on the monthly. So you could decide to say have a balloon of 30k (final payment) and over the 1, 2, 3yr term pay off the 10k, thus making your monthly payment around £300, but once the term is up you still don't own the car, its got £30,000 owing.

What I like doing is having a small monthly and just over paying of said balloon, most finance companies will allow you to pay £8000 per year of the balloon for no charge. So if you did that when you come to hand car back if you paid that 8k every year on a 3yr term you'd only have £6000 to pay to own the car, so easy.


What I found out is Paragon do not allow that however, if you make an overpayment you just paying of their interest, so in short your money does far less, hence when I discovered this I worked out my money would be wasted and I got myself out of the agreement by settling in full.

If you do not care, you never intend on owning outright and just want to hand the car back then fine, but I buy cars with the end plan to own outright.

 

[Maccy]

Paragon are one of the strongest, but something to point out with them, they will not allow to make over payments of the balloon. Which when I went to pay some of the SVR realised I could not which annoyed me somewhat, but thankfully I was in a position and had cash to settle the agreement in total so did so.

However I've just re-financed with these guys, via HMK-FS but on a rolling 18 month contract which basically allows me to get around the whole not being able to reduce the balloon and they gave me 4.4%, my thinking is in 18 months I shall just refinance, push for even lower rate of around 4% and borrow 20k less, thus reducing what I owe that way.

Our plans for Ferrari are undecided at present, basically going to keep it until free servicing ends, at which point decide to pay it off or sell it and put the money from it elsewhere.

But Paragon are good for competitive rates, just check the over payment situation, if your happy then maybe contact Helen at HMK-FS to see if she can get you upto a further 1% of the rate, worked for me.

Ah I'm on a flat hire purchase so no balloon payment!

 

[Chris1712]

No for example, the SVR was like 80k, I put around 40k down, leaving 40k on tick.

When you make an over payment, you can reduce monthly amount, reduce the term, or pay of the balloon.

So say if you took that 911 at 60k, put 20k in and have £40,000 on tick. You can then choose how you want that 40k on tick, do you do 40k / 36 and pay around £1250ish a month which most people won't do because that is too much on the monthly. So you could decide to say have a balloon of 30k (final payment) and over the 1, 2, 3yr term pay off the 10k, thus making your monthly payment around £300, but once the term is up you still don't own the car, its got £30,000 owing.

What I like doing is having a small monthly and just over paying of said balloon, most finance companies will allow you to pay £8000 per year of the balloon for no charge. So if you did that when you come to hand car back if you paid that 8k every year on a 3yr term you'd only have £6000 to pay to own the car, so easy.


What I found out is Paragon do not allow that however, if you make an overpayment you just paying of their interest, so in short your money does far less, hence when I discovered this I worked out my money would be wasted and I got myself out of the agreement by settling in full.

If you do not care, you never intend on owning outright and just want to hand the car back then fine, but I buy cars with the end plan to own outright.

With this approach, aren't you better off with a personal loan?