mandoyoda
Well-Known Member
I'm buying a Taycan RWD through my limited company for the current Benefit In Kind government incentives. I am considering both PCP (finance) and cash. Porsche dealers in the UK aren't offering any deals on build orders as the demand is sky high.
PCP
Deal details:
Cons:
Cash
Deal details:
Pros:
Purchasing using cash saves my company £6,000 over PCP, but at the cost of smaller regular repayments over 36 months for better cash flow.
Does anybody have any recommendations?
PCP
Deal details:
- 36 months, 30,000 miles
- 20% deposit
- 5.9% APR, which is £10,000 interest on my build
- Claim corporation tax at 19%, and VAT at 10% on the lease part of the finance
- Claim corporation tax at 19% on the final balloon payment
- Residual value 60% of base model
- Great for cash flow with regular monthly payments
- Sell car at any time (pay the difference and early exit fee)
- Upgrade to another new car in the future
Cons:
- Pay a ton of interest
- Car is not owned by the business until the final balloon payment is made
Cash
Deal details:
- Claim corporation tax 19% on the cash price
Pros:
- No interest
- Company owns the car
- Sell the car, no finance or early repayment fees
- Single lump sum payment (affordable to the business) but terrible on company cash flow
- Single lump sum could be kept in the business
Purchasing using cash saves my company £6,000 over PCP, but at the cost of smaller regular repayments over 36 months for better cash flow.
Does anybody have any recommendations?
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