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jason3.2s

Porsche Refinancing - Anyone taken this option?

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I have 1 year left on my 3 year PCP finance with Porsche and I am weighing up the options for next year of trading in for a newer car or extending the finance thats payable at the end of the term. 

Has anyone taken out extended finance recently with Porsche after their term expiry and if so it would be great to know the % rate Porsche would be looking for.

Any info appreciated.

Cheers

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I would expect it would be comparable to what you already have...think its likely to be around 10% APR (when you coudl get the same VWFS for less if it was a Beetle!)

Not sure if you would have PCP as an option again or it may have to be HP....but its likely to be cheaper to speak to your bank and take a normal loan anyway

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All you need to do is get a quote from elsewhere, either you bank or similar and see what the difference is compared to continuing porsche finance.

If you present them the figures and they cant match you know what to do.

 

I'm taliking from experience and they matched a far more competitive quote offer I had.

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Not particularly Porsche, but I run the Motorsport side of our company - Moorgate Motorsport Finance. I have financed 6 BTCC cars this season as well as GT's, a 1975 Ferrari race car and even a 1949 Cadillac. Need anything quirky financing, pm me, I'll do my best to help.

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I price matched Sainsbury against Tesco 3.3 APR :)

Porsche couldn't get close despite saying they would match it..

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2 minutes ago, Jason986S said:

3.3% is very good though to be fair!

Almost ike free money! :D;)

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What I love about these super rates are that they are only available when you don't need to save money. Anyone who qualifies could buy the car with the loose change in the ashtray at the time anyway. That's the funny world of Credit. Bit like Apple's upgrade program. If you are already buying an apple phone, you aren't put off by price. So what do Apple do? Offer you an interest free 20 month loan that they will revisit after 11 months in order to give you the latest new phone! 

Brilliant. 

Meanwhile if you go to Brightworld or whatever they are called, you can get a cheap shayte washing machine and pay 599% apr forever! 

You have to laugh. 

Correction: Bright House. 

Edited by Loz987
checked shop name.

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Just noticed Sainsburys are doing 2.9% APR on personal loans, think that will be quite a lot cheaper than what i have at the moment on my car which comes up for balloon payment at the end of this year.

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You have to get accepted at that rate for it to actually be cheaper (casting no actual aspersions on you Jason)...

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8 hours ago, boxsternoob56 said:

You have to get accepted at that rate for it to actually be cheaper (casting no actual aspersions on you Jason)...

Have to agree here. I applied to Sainsburys once when they had a similar rate, all went thorough ok with no mention of any APR increase, then had the paperwork through the post, the APR was significantly higher than the website. I called them and told them where to shove the application :laugh: 

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8 hours ago, boxsternoob56 said:

You have to get accepted at that rate for it to actually be cheaper (casting no actual aspersions on you Jason)...

I agree.  The advertised rate is the lowest possible rate, not the rate that everyone will get.

As for @r1flyguy I'm not surprised you were given a higher rate.  People that have been in an inverted 4g dive with a Mig28 are classed as a bad risk. ;)

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16 hours ago, Araf said:

I agree.  The advertised rate is the lowest possible rate, not the rate that everyone will get.

As for @r1flyguy I'm not surprised you were given a higher rate.  People that have been in an inverted 4g dive with a Mig28 are classed as a bad risk. ;)

You are correct but the other thing people forget if they 'chase rates' (multiple applicaitons) is that they potentially ruin their chances of getting accepted at all by the number of credit searches they can rack up doing so!

As for R1, he clearly excercised his right to utilise the 'cooling off' period...sensible chap...they must have worked out how many vegetables that would need to sell to help him finance that new beast of his!

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