UK lead time - no clues after 8 months

[4sCT21]

So my lease company contacted me today to tell me there is a £5k cancellation penalty if they place the order and am I happy to proceed given this?

Now that just sounds to me like Porsche’s standard deposit and I totally understand, my problem lies with the fact they can’t give me any idea of lead time until the order is physically placed with Porsche.

If it is 12 months, that Is a LONG time for things to change and I can’t afford 5k to “get out.”

Has given me food for thought given I work in a very volatile industry (given COVID).

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[targaben]

That seems rather harsh and ott. Fair enough if the build is locked in and imminent for production but not when it won’t be locked in for 6-9 months… you had this 100% confirmed?

 

[Discohead]

So my lease company contacted me today to tell me there is a £5k cancellation penalty if they place the order and am I happy to proceed given this?

Now that just sounds to me like Porsche’s standard deposit and I totally understand, my problem lies with the fact they can’t give me any idea of lead time until the order is physically placed with Porsche.

If it is 12 months, that Is a LONG time for things to change and I can’t afford 5k to “get out.”

Has given me food for thought given I work in a very volatile industry (given COVID).

Are they actually fronting the £5k, not so bad if they are but that's a lot for them to be out of pocket?

 

[im85288]

That penalty was one of the things that persuaded me against leasing the car via my limited company, the leasing company stated that if I were to cancel the order I would need to pay 10 percent of the full term payments..which was just ridiculous.

That coupled with IR35 rules meaning my limited company is not getting the income it used to convinced me to ride it out a bit longer with my model 3 via the business (benefiting from the amazing current BIK charges) and instead look to purchase the Taycan outright once I’ve saved up over the next year or so.

 

[4sCT21]

That seems rather harsh and ott. Fair enough if the build is locked in and imminent for production but not when it won’t be locked in for 6-9 months… you had this 100% confirmed?

I have had it in writing, that if I cancel, I would be liable for the £5k fee.

Its a big decision.

 

[targaben]

Ok, I wouldn't do it then. Like you say anything can change in this time and you don't want to lose £5k. Can you secure an order yourself and get a decent deposit together so you can finance it yourself maybe??

 

[4sCT21]

Ok, I wouldn't do it then. Like you say anything can change in this time and you don't want to lose £5k. Can you secure an order yourself and get a decent deposit together so you can finance it yourself maybe??

Not a chance of me doing this through a personal lease, works out about £24k more expensive over 4 years.

The only thing getting me into a Taycan, is the tax saving.

 

[targaben]

I agree mate. Tough situation again then. You PAYE or have your own company?

 

[4sCT21]

I agree mate. Tough situation again then. You PAYE or have your own company?

PAYE.

It just completely removes my comfort factor.

 

[pdavison]

I've placed an order in the last week via a salary sacrifice scheme and just been told delivery is January 2023!

 

[4sCT21]

I've placed an order in the last week via a salary sacrifice scheme and just been told delivery is January 2023!

YOWZERS ?

Is that Tusker per chance? They’re telling me 35 weeks, but nothing further until I’ve actually ordered and Porsche update them.

 

[W1NGE]

PAYE.

It just completely removes my comfort factor.

Tricky - £5K is 'normal' as a deposit when ordering direct from the dealer. The 'not knowing when' is a fact of life and has been a feature with Porches for as long as I can remember. It has got harder in recent times with Covid and semi-conductor shortages to accurately predict - the dealer (or the systems they have) doesn't have a crystal ball and is at the behest of Porsche GmbH. In normal times, if you have an allocation then a build slot will appear and for that date to delivery is typically around 2 - 3 months.

Typically you need to plan quite far out - paying a deposit doesn't beget an allocation on the same day and so that can be a moving target. For Taycan's just now 12 months for most models if not all is typical.

The introduction of the GTS added new allocations but these will have all gone by now but give you a reasonable indication of the deposit to delivery window - 5 months or thereabouts for those getting cars in March.

These days Porsche aren't alone and anything now built to order is 6 months + but I guess the difference is that in normal times Porsche lead times for any model are typically 3 - 6 months depending on model etc. simply because of low production numbers and controlling supply.

Transacting through a leasing company is not something I have ever done and can imagine when the market is tight that these companies are pushed down the pecking order. I know for a fact that certain companies hold some clout on dealerships when it comes to 'queue jumping' for their employees (annoys me intensely) but not sure this happens much these days.

None of this 'wisdom' helps you of course. Random thought would be to find out if you can insure against losing your deposit if things don't work out or take the risk and sell the car immediately on delivery (don't recommend but..) or go 2nd hand sooner rather than later?

 

[pdavison]

Lease company is Zenith, dealership is Cambridge. I'm hoping for a quicker lead time than that!

 

[4sCT21]

Thanks for the feedback. It’s the definition of irony that I arrived in my hotel room in Thailand a couple of hours ago, put Nat geo on and it’s the Taycan factory episode in Thai ?

 

[WRC_1S]

I'm PAYE and placed a my order with our fleet provider in June. Fleet proiver is ALD Auto. Car due to arrive end of Feb 22. Definitely the BIK rates were the tempting factor for me.

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