UK - Cheap contract hire deal on 4S!

Dave T

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Ok, so 101 minus 65 is 36. So you’d be better off doing this, vs buying, as long as the car is worth less than £36k after 4 years.

Hmmm. Would it be?
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Lfcdan

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Ok, so 101 minus 65 is 36. So you’d be better off doing this, vs buying, as long as the car is worth less than £36k after 4 years.

Hmmm. Would it be?
no one knows!
I’m going my turbo over 3yrs on a PCP as I plan to hand the keys back at the end
I don’t want the hassle of selling and if the car is worth more than the ballon that will go towards the deposit for the next one

although on the example above there is about 11k in interest payments if buying trough a business you can offset 19% of it in tax
 

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It should be
10k miles per annum
48 months
£15k down
£3.5k OLEV (your dealer wouldn’t have allowed for this, if they cant do on the quote add 3.5 onto the deposit)
6% APR (this was reduced in Jan tell them you want a requote)
List £101,787
£1,066.82 per month
Baloon - £48,925 (assuming Porsche haven’t amended the GFV)
Hi @Lfcdan I just got a PCP quote today from Porsche, which was at 6.8% APR. Have all dealers reduced the APR or is that something that needs to be negotiated with the specific dealer do you think? Cheers
 

Lfcdan

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Hi @Lfcdan I just got a PCP quote today from Porsche, which was at 6.8% APR. Have all dealers reduced the APR or is that something that needs to be negotiated with the specific dealer do you think? Cheers
mine was 6.8% initially but in Jan they also had 6% rate from Porsche tell them you want the new rate

the Edinburgh dealership tried charging me 7.8% and gave me a lower GFV !
 

Persuader

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Lloyds Bank Car Finance PCP is quoting 4.6% APR and better GFV than Porsche themselves.
 


DavidE- Bath

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Lloyds Bank Car Finance PCP is quoting 4.6% APR and better GFV than Porsche themselves.
That sounds great. My 4S is coming in at £110,464, do you know if they will do over £100k list price and over £60k loan value - that seems to be a cap on their online calculator.

Cheers
 

Persuader

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That sounds great. My 4S is coming in at £110,464, do you know if they will do over £100k list price and over £60k loan value - that seems to be a cap on their online calculator.

Cheers
Yes. That's the thing. £100K max purchase price. £60K max loans. This suits me though as paying large enough deposit to only need the £60K advance makes the payments only £228 pm.
 
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TAYC4N

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Yes. That's the thing. £100K max purchase price. £60K max loans. This suits me though as paying large enough deposit to only need the £60K advance makes the payments only £228 pm.
Why not just cash it through the company and get 100% WDA in the first year itself? Surely you will be better off this way money wise...?
 


DavidE- Bath

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Why not just cash it through the company and get 100% WDA in the first year itself? Surely you will be better off this way money wise...?
I was trying to get some comfort around residuals in case they go down much more than expected and ease of moving the car on after 3 years if I want to. I’m trying to decide between a PCP where I pay the deposit equal to the difference between the sale price and the GFV so just pay interest on the GFV as a result (Which itself would be tax deductible on top of the 100% first year allowance), or just buy it outright and take the risk on what I can sell the car for in 3 years if I don’t want it any more...

at the Porsche 6.8% apr that looks like interest of about £10k gross so about £8k net to guarantee the future value (and earn whatever interest I can on the cash in the meantime which won’t be much). Or hopefully I could find a lower interest rate like that offered by Lloyd’s.

decisions decisions ...
 

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Hi @Lfcdan I just got a PCP quote today from Porsche, which was at 6.8% APR. Have all dealers reduced the APR or is that something that needs to be negotiated with the specific dealer do you think? Cheers
Is your build locked in? As if not see what othe
I was trying to get some comfort around residuals in case they go down much more than expected and ease of moving the car on after 3 years if I want to. I’m trying to decide between a PCP where I pay the deposit equal to the difference between the sale price and the GFV so just pay interest on the GFV as a result (Which itself would be tax deductible on top of the 100% first year allowance), or just buy it outright and take the risk on what I can sell the car for in 3 years if I don’t want it any more...

at the Porsche 6.8% apr that looks like interest of about £10k gross so about £8k net to guarantee the future value (and earn whatever interest I can on the cash in the meantime which won’t be much). Or hopefully I could find a lower interest rate like that offered by Lloyd’s.

decisions decisions ...
same mate I’m not sure what to do
 

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Why not just cash it through the company and get 100% WDA in the first year itself? Surely you will be better off this way money wise...?
You don't half to "cash it through a company" to claim 100% WDA in the 1st year.
You can still purchase on finance/PCP and claim full WDA if you wish.
You can still claim 100% WDA if you are self employed.
You might not want to claim the full 100% anyway as you have to give the WDA saving back on the resell price when you sell it anyway. My strategy will probably be to claim a WDA equivalent of a guesstimate of the expected depreciation, especially as I tend to only keep cars for 1-2 years, that way there will be no corporation(if done through LTD company) or income tax(if done through Self Employed) to pay back compared to if I had claimed the full 100% WDA.
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