Lease vs Buy

[Duc959]

You can also consider a company lease purchase. Basically it’s a hire purchase agreement. That way you can deposit 50%, pay the rest over whatever term you want. Claim capital allowances year 1. That’s what I’m thinking of doing. Pay enough tax already!

Can you please advise what rate you are getting/thinking of doing?

Sponsored

 

[Gogs]

Can you please advise what rate you are getting/thinking of doing?

Not sure yet, need to get quotes then decide to buy outright or hire purchase. Porsche are 6.4 which is far too high.

 

[Lfcdan]

Porsche are now doing 5.9% on PCP
But they price for Contract Hire is so much more expensive

hopefully I’ll get my quote back today

 

[Gogs]

Porsche are now doing 5.9% on PCP
But they price for Contract Hire is so much more expensive

hopefully I’ll get my quote back today

You can’t use pcp if buying through a business I was told by sales person.

 

[kevinod]

My pcp quote is in the business name.

 

[Gogs]

My pcp quote is in the business name.

Interesting. I was told that wasn’t for business use only personal by the dealership. I’ll need to find out more. Looking at the deals last night I might just cash purchase. I plan on keeping it for 4-5 years.

 

[kevinod]

My guess: It will sell a lot, especially in the soccer mom Tourismo version .

Interesting. I was told that wasn’t for business use only personal by the dealership. I’ll need to find out more. Looking at the deals last night I might just cash purchase. I plan on keeping it for 4-5 years.

you are brave! The GFV from Porsche is very strong but I would be amazed if the car value stays that strong, especially with new models and technology evolving

 

[Gogs]

you are brave! The GFV from Porsche is very strong but I would be amazed if the car value stays that strong, especially with new models and technology evolving

I do agree, it might be strong, but the whole tech thing is overrated. The only thing that really matters is the battery. With Porsche it’s modular so I think it will hold value better than other ev brands.

 

[Lfcdan]

My PCP is ion the company named too, and we did the credit application that way too

its a car that I will only keep 3ys maximum as I see no value in purchasing the car especially now they have base model as coming out
they will be volume sales cars so the higher spec models won’t really stand out like they do on the 911 for example

as I’ve said loads of times leasing makes the most financial sense to me as its approximately 11k cheaper over 3yrs!!!!

the only real benefits on the PCP is the first year allowance (which is just cash flow) and over time we could depreciate the car so it can be sold to me cheaply
but i won’t want the car that long anyway

 

[TAYC4N]

My car is in company PCP too - the only difference is that the contract is a non regulated agreement so there is some interest element penalty on early repayment (6 weeks interest I was told). On a non regulated agreement you can't hand the car back once 50% of the total payments are made.

 

[Gogs]

Thanks for all the feedback. Need to get the quotes in and figure out what's best for me. I suppose everyone is different in the way they view stuff. I just hate paying interest I suppose!

 

[paddypony]

You can also consider a company lease purchase. Basically it’s a hire purchase agreement. That way you can deposit 50%, pay the rest over whatever term you want. Claim capital allowances year 1. That’s what I’m thinking of doing. Pay enough tax already!

I cant understand anyone buying any car on PCP unless they are going to run it hard and get rid. Its always a more costly option and you never own the car, plus they screw you over when its handed back regardless! Makes no sense to me. But when its a business buy for cash outright and if you cant afford it then........... HP rates at an all time low of 2% through the bank is a far better proposition than any PCP, Finance Lease Et Al

 

[Gogs]

I cant understand anyone buying any car on PCP unless they are going to run it hard and get rid. Its always a more costly option and you never own the car, plus they screw you over when its handed back regardless! Makes no sense to me. But when its a business buy for cash outright and if you cant afford it then........... HP rates at an all time low of 2% through the bank is a far better proposition than any PCP, Finance Lease Et Al

My thoughts as well. Whatever option were going to take a hit, I would prefer to take the hit at the end and then top up with cash again. But I do understand that not everyone has cash to drop into a car, so HP must be the best option. Especially if you can get 2% wow. Where is that from?

 

[paddypony]

My thoughts as well. Whatever option were going to take a hit, I would prefer to take the hit at the end and then top up with cash again. But I do understand that not everyone has cash to drop into a car, so HP must be the best option. Especially if you can get 2% wow. Where is that from?

I got it from HSBC corporate banking so it must be ball park, I mentioned I was looking to buy a car and I paid my 10% deposit in cash and he suggested the full 90% on HP at a rate of 2% when I said I was just paying cash - no brainer and cheap money really. The dealer did suggest finance packages to me when I ordered it but I politely declined without bothering to even ask him for rates. As they are obviously going to be rubbish % (hate to think what silly rates Porsche offer customers and don't even know) and told him to stick to selling cars and if I want funds/finance I would go to a bank not a flippin car dealer (unless they offer silly 0% deals, which they only do on crap cars they can't shift) lol

 

[Gogs]

I got it from HSBC corporate banking so it must be ball park, I mentioned I was looking to buy a car and I paid my 10% deposit in cash and he suggested the full 90% on HP at a rate of 2% when I said I was just paying cash - no brainer and cheap money really. The dealer did suggest finance packages to me when I ordered it but I politely declined without bothering to even ask him for rates. As they are obviously going to be rubbish % (hate to think what silly rates Porsche offer customers and don't even know) and told him to stick to selling cars and if I want funds/finance I would go to a bank not a flippin car dealer (unless they offer silly 0% deals, which they only do on crap cars they can't shift) lol

Yip, agree. I just called my bank, see what they say.

Sponsored