Well I am shocked!
Due to some issues with the finance regarding overpayments been miss-sold to me on the SVR, not gonna put names, but in short over payment options were some what limited, which may legally not be legal, but am not willing to go into finer details because the broker has offered me such an incredible deal on what I buy next its too hard to refuse. So in short on the SVR my only option to save the most interest was to settle in full, which a few months ago was not possible hence wanting to just over pay and reduce balloon by 20k, fortunately I am now just settling in full as have managed to save up enough to do so.
Simply put with such a large deposit (70k), which leaves spare cash in my bank, 67k balloon, 2yr term on a 150k car and my monthly will be under £400, which is incredible as I budgeted 1k per month. He has said he plans to further improve that, but thats under 5% APR, around 2.4% base rate, but he is looking to do better and this is a new lender who will allow me to make any kind of over payment I wish upto 8k per year with zero charge, so I can reduce final balloon, term or monthly payment, if I pay more than 8k per year there is an admin fee of £150, nothing drastic but way more flexible which is what I want. That is important to me as I will likely pay the car off in full and own it, rather than hand it back or re-finance it, just like I did with SVR, albeit with less options.
So test drives pending, getting into something 150k with a large deposit is very easy, shocked how easy and when it comes to the end of the term the same company is flexible, sell privately, pay them the balloon, sell back to dealer and they settle it, or re-finance the balloon, again they offer that too or just settle it. With over payments I feel I can reduce that balloon to 40k within two years anyway at which point a 25k bank loan and 15k savings would have it owned outright and a solid 110-140k for next purchase in the bank plus savings.
Am also getting the numbers run on a Performante as thats the dream car.
Of course I need to drive them, they did however say they won't do such a deal on a Mclaren, they said they simply cannot guarantee future values, they said on a Ferrari or Lamborghini NA car, they are very happy to guarantee future values especially if buying after March/April this year, new reg, brexit etc. and said buy aggressive and depreciation should be minimal, but to avoid Mclaren as they expect huge depreciation, which is kind of general feeling, still going to drive the 570S just in case it blows my mind.
But at this budget (150k), that is 991.2 GT3, 991.1 GT3 RS, Huracan, 458, I am kind of ruling out 458 due to age, but shall drive anyway just in case its phenomenal.
Wild card if numbers come back good is 200k and get a Performante, reckon I can get in one for 180-200k if I wait a month or two. Can't see them ever getting cheaper than and some reckon they will go north in a couple of years been last NA Lambo, but of course rumours of another last run crazy Huracan coming so a little uncertainty there, but the man maths potentially say yes, warranty until 2022 and probably little to no depreciation and a chance of profits. Guess its down to risk factor, Huracan 610-4 for 135-155k and guaranteed to lose 10-20k in depreciation or a Performante at 185-205k and maybe lose 20-30k or make 30-100k and longer warranty so less expense. Though I guess Lambo charge more to service a Performante even though its same as regular Huracan servicing wise.
Shall ask, GT3 drives better than Huracan, Huracan more an event, but Performante drives as well as GT3 I suspect.
He said with a large deposit it really opens up the world to what you can get into for a relatively small monthly payment and needless to say I am shocked, as was budgeting £800-£1200 monthly.
Early days need to drive them more on track and on road before making a decision and it will be driven daily, but the deal is 6000 miles, I tend to do 7000-8000 so I'd have to drive M3/Clio a little more or pay the fee or get the numbers re-done for 8k per year.
