thedarkknight
Trainee
- Joined
- 15 Aug 2016
- Messages
- 74
What sort of deals are Porsche financial services offering. Does anyone know how they calculate the trade in value for a car? Just feeling fleeced with a recent offer!
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Same here. :xthedarkknight said:Just feeling fleeced with a recent offer!
thedarkknight said:Thx. All very useful responses. Initial APR also 7.2% here. So how does the calculation work? Say my vehicle has been valued at £80k - minus the remaining PCP would leave around £20k how can it I only be worth around £11k as trade in ???
If I payed off the PCP and sold the vehicle back to Porsche would I not be £20k better off. There doesn't appear to be any transparency in how the figures are derived. This is what I am trying to understand.
RobIpswichUK said:Not sure if Jamie Garside (forum name: Jamie) is still an active contributor or site partner (haven't heard from him for a while), but he was a whizz at getting much better rates and could deal with any Trader OPC or not. Think he used to work for Eurolease (not sure whether that is a big firm or his own - no affiliation or prior personal experience, just a great forum member who historically tried to help get other forum members finance deals).
thedarkknight said:Thx. All very useful responses. Initial APR also 7.2% here. So how does the calculation work? Say my vehicle has been valued at £80k - minus the remaining PCP would leave around £20k how can it I only be worth around £11k as trade in ???
If I payed off the PCP and sold the vehicle back to Porsche would I not be £20k better off. There doesn't appear to be any transparency in how the figures are derived. This is what I am trying to understand.
Mad Mark911 said:Even if you have a car that they want to retail on their (or the wider groups forecourt) - you are going to save money if you part ex it yourself. Period.
Their buying margins are huge - their policy is that they need to have more than 10% profit in a second hand sale or no deal. Low part exchange values are a key part of their business model - which also relies on (as others have said) your apathy, lack of time and relative wealth.
The finance elements only have a very small margin of movement and the business managers only make their substantial bonuses if they stick to what VW Financial Services put out. But the margins on new Porsche's are huge. There are two good reasons why they are the most profitable car maker (per vehicle) on the planet and that's the strength of brand and market desire.
Personally I think anyone who buys such an expensive vehicle on finance is begging to have their trousers pulled down and be rogered by the greedy dealers. Because as my dear old Dad said to me once: "If you can't afford to buy it in cash, then you can't afford it"!