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Financing a Porsche Macan

Discussion in 'off topic' started by clivem2, Aug 15, 2019.

  1. clivem2

    clivem2 pfm Member

    There are a number of Porsche drivers on the forum so I hope someone can guide me re financing. I drove a Macan S yesterday; I loved it big time.

    I could buy one outright but I'm loathe to tie up that amount of money in a depreciating asset.

    PCP - a good spec but not crazy, works out at 40k over 4 years. Naturally they would hope to upgrade me after 3 years, this depends on the residuals at that time. The APR on PCP is 6.9% which is high but this is Porsche and they get you any way they can.

    Lease - miser spec 35k over 4 years, the "good spec" above 43k over 4 years.

    As much as I love the car 10k per year I'd find hard to live with even though I can afford it. Are there any companies offering good deals anyone can suggest?

    I looked at 2nd hand, it's clear main dealers will buy a car from you for 30k and sell it for 40k, even 3 to 4 year old cars go for these sorts of figures.
  2. Ponty

    Ponty pfm Member

    I had a new Porsche some years ago on 2 year personal contract hire. It was one of those deals which was a far lower total cost of ownership (and much less hassle) than buying and selling 2 years later. You just have to keep your eye out. Unfortunately if you are fixed on a specific car, you’re unlikely to get a great deal.

    Have a browse on some of the leasing broker sites, such a Freedom Contracts, Gateway2lease etc and see if anything takes your fancy. My gut feel is you could halve the total cost of ownership and still have a lovely motor. Just one comment, don’t lease a car for longer than it’s warranty period. You are responsible to fix it if it goes wrong. 2 year deals have worked best for me generally, you won’t even have to service it or replace tyres etc.
  3. JensenHealey

    JensenHealey pfm Member

    If your mileage is low, leasing (rental essentially) makes sense. No capital tied up. The dealer gets a car back after 2 years for a tasty resale.
    Some manufacturer supported lease rates look like a steal these days.
  4. gintonic

    gintonic 50 shades of grey pussy cats

    I had (exchanged it earlier this year) a Macan Turbo for nearly three years on a PCP, before I got the 911 Targa (used) also on a PCP. this is the 4th PCP I have had with Porsche, and my 12th in total. I have never bought outright using PCP as that has always appeared to be an expensive way for outright purchase. I have never looked at the total cost of ownership, I am always more interested in the monthly cost. I always went into my Porsche dealership with a monthly cost in mind, and got them to spec a PCP that left me happy.

    When I exchanged my Macan for the 911, they gave me a much higher residual than than I anticipated as "recognition" that I was moving on to another Porsche, saved me £5k on the deposit for the new one.

    When I PCPed one of my Boxster S's I did go to a private broker and got some quotes, and then challenged the dealer to get close. They did, and they tweaked the interest rate downwards a little. In talking to the finance man in my dealership, I think they have less flexibility to tweak things now, than they used to have?

    If you want to know anything about living with a Macan, let me know. I was hugely impressed by mine, and fully intended to get another, but they hadn't launched a facelift Macan Turbo. They offered me a fully loaded Macan S at the same monthly cost as my existing Macan Turbo, which I thought was a daft proposition. Then we decided that if we were going to spend a bit more a month, we may as well get something more interesting than the Macan.

    I have to say, I was really impressed with the facelifted interior of the new Macan. Don't forget the Macan is Porsche's best selling car, I had to wait 6+ months for mine. Demand means deals are hard to come by. Make friends with your dealer - I have been with mine for about 8 years.
  5. clivem2

    clivem2 pfm Member

    Thanks Ponty, Gateway2lease is one I'd looked at. Freedom Contracts is a new one to me so a good recommendation, any more like this? I'm looking for such recommendations to help me avoid sharks...I can hang out for a deal though on a Macan it's unlikely unless I get could lease an ex-demo or early lease return. I'm in no rush though. Good point about 2 or 3 year leases to keep costs down.

    I just can't face paying 10k per year, no matter how much I want the car.

    My mileage is low...about 8k per year. No commuting, not driven every day mostly mid to long journeys.
  6. Tony Lockhart

    Tony Lockhart Avoiding Stress, at Every Opportunity

    I’d consider buying a used one either outright or with finance (compare Porsche finance with others) and try to negotiate as much as you can into the purchase price. Then sell at two to four years with little hassle back to Porsche if the mileage isn’t stratospheric.

    When we bought our 911 in 2015, they threw in the next (£1k) service, and corner for bodywork, tyres and wheels, AND dropped the price a couple of grand or so. It also had Porsche warranty which is extendable if you keep within the Porsche dealer network for servicing.

    When it comes to selling, you’ll lose nowhere near the £35-43k you’re talking about. The only downside is not driving a new version.

    A lovely car, beautifully put together, makes Range Rover’s products look and feel like antique agricultural vehicles!
    gintonic and Snufkin like this.
  7. clivem2

    clivem2 pfm Member

    Yes some are, this is what tempted me at first but the Macan has captured me. BMW are fairly good currently as a PCP along with decent discounts....but unless I can get a deal on the car I want I'll hang fire.
  8. gintonic

    gintonic 50 shades of grey pussy cats

    I have to say in my experience of PCPing 4 Porsches (through the dealership), that amount per year is going to the ballpark, unless you up the deposit or go used.

    There are loads of used pre-facelift Macans in their dealer network. If your dealer is any good they should be able to get you any Macan in their group. I am with Porsche Centre Hatfield, and I spotted my Targa at the Guildford dealer. Luckily they are both in the same group, so they got the car on a transporter to Hatfield me to look at before I signed on the dotted line.
  9. gintonic

    gintonic 50 shades of grey pussy cats

    @clivem2 can I ask, will you expect to be transporting adults in the back seats regularly? I should warn you the leg room in the back is appalling for a normal sized adult.

    IMO, the poor legroom is the only serious issue with what is a fantastic car. Oh and the lack of storage compartments in the front cabin - but that seems to be a Porsche thing,........
  10. clivem2

    clivem2 pfm Member

    Headroom is poor too with the pano roof. Our "kids" are 24 and 27, mostly it's just the two of us hence a move from an X3 to Macan can work. I think our dog will just about be able to sit up under the hatch - he's a 43kg slender Retriever, he's big for a Retriever and occasionally accompanies us. Have you tried a dog in the back....so to speak?

    Yes 10k / year seems to be the going rate whereas a similar list price BMW is more like 7k. The difference being discount level and APR.
  11. stevec67

    stevec67 pfm Member

    See if you can lease or pcp a used one, if you want to save money. My parents have a 5 series that they got at 18 months old for a much better monthly cost than a new one. Once you are in it there's no difference, only the plate and the odo mark its age. it's done 50k miles or so now, so the 20k it came with are neither here nor there.
  12. Philim

    Philim pfm Member

    Pcp is rarely a good idea as discounts are lower, finance is higher and they build a retention pot into the monthly rate.
    Leasing should be better as residual is high and their is no pot built into calc. Leasing can be great value if you are flexible on spec and ready to go quickly.
    Don't limit yourself to dealers. There are hundreds of brokers out there now that do an excellent job
  13. clivem2

    clivem2 pfm Member

    I''m trying two brokers next....as a personal recommendation from someone in the industry, maybe his business contacts will find me a deal.
  14. gintonic

    gintonic 50 shades of grey pussy cats

    oh if you haven't looked yet you might get some buying tips here: https://www.macanforums.co.uk/ they were very helpful when I was looking to buy.

    No, cant say i have. The with 2/3's of the back seats folded down, you can amply fit a passenger and two cat boxes - which is way more than the Targa!!
  15. gintonic

    gintonic 50 shades of grey pussy cats

    they dont make it entirely obvious but the dealers will do this. Just did it on my Targa.
  16. Ponty

    Ponty pfm Member

    I’ve used Freedom a couple of times with no problems. My father had a string of about 6 new Mercs through them, again with no problems. Try Stable vehicle contracts as well. Have a look on leasing.com for a full spectrum of brokers. You’ll find a much better deal than walking through the doors of a glass palace as a retail customer. I actually found my current lease (Audi Allroad) through WhatCar leasing, which gave access to Sytner group fleet deals as a retail customer. As a comparison, it’s under £4K per annum fully amortised over 2 years (10K miles per annum). It’s going back at the end of the year, just bought a new VW California which makes more sense to own and take the residual risk (my last one dropped £1500 in 2 years). Horses for courses.
  17. stevec67

    stevec67 pfm Member

    I don't know why they wouldn't make it obvious, it's a second bite at the cherry. Lease or pcp it for a couple of years, then give it a clean and service for another 3, it comes back as a 5 or 6 year old example that they can dispose of to the trade. Full history, and the lease has paid for it handsomely. It also extends the leasing habit to those who can't afford to lease a new one.
  18. Nero

    Nero Newish Member

    It's a tough one. I always used to walk into the dealer with a metaphorical bag of cash and get a good deal. These days however, PCP or leasing does throw up some interesting alternatives. I can only speak for my Audi garage, but the interest rates were much lower when choosing an ex-demo car (how they can justify over 11% in the current climate for a new one I don't know). If there's a demonstrator at or near your spec., you might be surprised. Porsche may have different policies though.

    I like the Macan - was nearly tempted....
  19. clivem2

    clivem2 pfm Member

    It'll be down to sales targets - both for the dealership in terms of new cars sold and individual salespeoples' targets on new cars. 2nd hand sales will usually be via a different sales team.

    Anyway...I now have a broker looking for a cancelled order for me.
  20. gintonic

    gintonic 50 shades of grey pussy cats

    I know, and I agree. I would never have got a brand new Targa, but a 4 year old, fully loaded with some crazy optional extras was eminently within budget.

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