Navigating the Taycan Terrain: Finance, Depreciation, and Future Proofing

[sheybass]

Hey everyone,

I'm currently at a crossroads and could really use some insight. I've been eyeing a Taycan lately, and with the recent dip in depreciation, it's got me thinking it might be within reach. Here's where I stand:

I've been driving a 2019 X4 20d since Nov 2022, snagged for £33k on HP. After a decent year financially, I paid off the 9% interest finance but now find myself yearning for an electric ride. The i4 was a dream back then, but the Taycan? Never even considered it until now. With my single, 32-year-old status, the Taycan seems like it could be a perfect fit.

I've looked into other EVs like the i-Pace, Polestar 2, and Mach-E, but I keep circling back to the Taycan. The question now is, can I afford it? Market trends suggest a used one might be feasible, especially with more price drops on the horizon. My budget caps around £56k, aiming for a monthly payment not exceeding £600 regardless of the finance route.

My research hints that a PCP deal might be the way to go, given my intent to switch cars in about four years. Crunching numbers on Autotrader's finance calculators, a £56k Taycan with a conservative £20k part exchange and 9.9% APR leads to roughly £380/month over 4 years with 6k miles annually. But here's the kicker - I'd be short on equity for the next ride, potentially facing higher payments or a downgrade.

Another avenue involves a bank loan of £30k (hopefully at a better rate), plus £20k for my car, and an additional £5k, pushing my monthly payments to £602. The upside? I can chip away at the interest during good years. However, I'd be shouldering the depreciation burden, possibly leaving me in a tough spot down the road when it's time to sell.

I understand cars are depreciating assets, but I'm keen on minimizing losses. So, Taycan enthusiasts who've braved the finance journey, how did you navigate it? What were your numbers like? Any advice would be greatly appreciated!

Thanks in advance for any insights.

Summary:

• Current car: 2019 X4 20d purchased for £33k on HP in 2022.
• Budget: Around £56k for a Taycan, aiming for monthly payments not exceeding £600.
• Finance options considered: PCP £20k down vs. bank loan with potential depreciation burden.
• Seeking advice from Taycan owners on their finance experiences and numbers.

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[Ronvanwissen]

Don’t buy Porsche when you. Annoy pay cash. Stick to Polestar

 

[Ronvanwissen]

Don’t buy Porsche when you cannot pay cash.

 

[mutanthands]

By posting such a man-maths laden thread, it already tells me that the car will be too much of a stretch.
Patience is the key, wait a little longer and buy the car you actually want, rather than compromise and not get the experience you deserve.

 

[Hirschaj]

My advice for whatever it's worth: Keep driving your current car and invest your money wisely until you reach a point where you don't have to wonder if you can afford a frivolous luxury purchase.

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