Taycan finance broken in UK

[Sebbo]

Taycan finance broken in UK, this guy was offered a GT and was excited until he saw the finance quote.

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[WuffvonTrips]

33% after 3yrs @ 10k miles p.a. (37% for Turbo S). Wonder how that compares with Macans.
Should stop dealerships getting flooded with cars coming off business leases in future.
Also possibly anticipating a step-change in battery tech making its way in to production within 5 years.
I'd guess that even for "proper" GTs, only a minority of those buying them new have an interest in using them as intended, many have treated them as a short-term investment. I doubt that an EV would be acceptable for that. Even for those who intend tracking the Taycan, in the UK it seems that there are few places to do so.
(Personally, my consolation for looking at the biggest loss I've ever taken on a car is that it's by far the best all-rounder I've ever had and I intend to enjoy it for many more years.)

 

[Computerglitch]

My taycan deal expires next march and car will be going back to Porsche and I’ll get a different Porsche. Luckily the balloon is probably higher than what the true value will be. It’s been a great car(apart from charging infrastructure).
If porsche had offered me a lucrative interest rate deal to keep the car I probably would. Unfortunately they looks very unlikely and I think too expensive for them to do at vw.
It’s a shame and I guess I’m not in the minority? I know there will be a few saying‘I didn’t buy it as an investment blah blah’. Well I didn’t either but my brain doesn’t want to lose money either if there’s a way out.
Good video btw

 

[WuffvonTrips]

Just checked the UK website- example Macan Turbo has a 48% GFV after 3 yrs @ 10k miles p.a.

 

[Andics]

Can I ask where do you see the PCP/Lease quotes on the porsche site? I can only see the ones for the used cars...

 

[Finbo]

The quote for a Megan Turbo at £98,862 back in Feb

Down payment £20,000
Miles 8,000 per annum
35 payments of £1,476.62
47.5 GFV
Interest rate over 10.5% I think
A total of £71,681.70 which is £20,000 more than my similar priced CT4S delivered Nov/2022

Leasing came out at £6289.86 plus 10% vat pay back, so £69,188.75

Hope this helps

 

[WuffvonTrips]

Can I ask where do you see the PCP/Lease quotes on the porsche site? I can only see the ones for the used cars...

https://www.porsche.com/uk/models/macan/macan-electric-models/finance/

 

[Andics]

Thanks, so they predict around 48% GFV for the turbo and 52% for the macan 4.

I am on the fence on which one to be a replacement for my wife's GLE, but other than having an ego problem that the turbo would be faster than my taycan...I was surprised it also loses in boot space compared to the normal 4

 

[WuffvonTrips]

Thanks, so they predict around 48% GFV for the turbo and 52% for the macan 4.

I am on the fence on which one to be a replacement for my wife's GLE, but other than having an ego problem that the turbo would be faster than my taycan...I was surprised it also loses in boot space compared to the normal 4

Ha!
Another consideration is that the Turbo quote appears to include no cost options, the Macan one very little (metallic paint perhaps?), so loading on the options I assume would drop those %GFV.

 

[Andics]

In any case, I don't understand (not judging) why people would buy cars on these PCPs.

I assume everyone buying a new Porsche is in the market for a luxury car because they have some disposable excess income, so my assumption is that anyone would have some other investments on the side.....now which investment has a TAX-FREE guaranteed return of 10.9% not to buy the car in cash? If there are many I am not really aware....

The conversation would be totally different with APRs on 5% or so...but those financial plans are really borderline being a scam imho

 

[Finbo]

Taycan finance broken in UK, this guy was offered a GT and was excited until he saw the finance quote.

How did you mange to get through this video, or maybe you didn’t. Pure clickbate

 

[Ross]

How did you mange to get through this video, or maybe you didn’t. Pure clickbate

Not at all.
He does go on a bit and I already knew what he was saying but the important info is front loaded and he is not trolling Porsche or EVs in general so I think this video is valid and useful.

He is just presenting brutal facts about finance and depreciation.

Useful info saving people time in going to get finance quotes from dealers, then laughing and leaving.

Many people, like myself, can’t afford these cars without finance. The GFV was a useful safety net. I just handed a Taycan back to VW finance with a GFV of £75,500. 68% retained value.
The car was actually worth £43,000.

Even with 5.9% APR the car cost my company £50,000 over 2 years.
A new one with a GFV of 34% and APR of 9.9% would cost double.
Not sustainable.

I have just leased a Mercedes EQC
£3900 deposit
£325 a month

Not as good as a Macan, early EV tech, run out model, but at 1/3 of the price a real bargain.

I will go back to Porsche for 2nd hand bargain Macan in 3 yrs

 

[Sebbo]

Not at all.
He does go on a bit and I already knew what he was saying but the important info is front loaded and he is not trolling Porsche or EVs in general so I think this video is valid and useful.

He is just presenting brutal facts about finance and depreciation.

Useful info saving people time in going to get finance quotes from dealers, then laughing and leaving.

Many people, like myself, can’t afford these cars without finance. The GFV was a useful safety net. I just handed a Taycan back to VW finance with a GFV of £75,500. 68% retained value.
The car was actually worth £43,000.

Even with 5.9% APR the car cost my company £50,000 over 2 years.
A new one with a GFV of 34% and APR of 9.9% would cost double.
Not sustainable.

I have just leased a Mercedes EQC
£3900 deposit
£325 a month

Not as good as a Macan, early EV tech, run out model, but at 1/3 of the price a real bargain.

I will go back to Porsche for 2nd hand bargain Macan in 3 yrs

I have to say, this is the soundest route/advice I've seen in a while. I'll be doing the same when mine comes up late next year. I hope the EQC does you well mate.

 

[XKSS]

Why are so many people on here so hung up on depreciation - buy it, use it, enjoy it - sure the EQC makes financial sense but I can't imagine seeing that parked outside in the morning and going WOW! that's a cool car - and you won't look at it and congratulate yourself on it's fiscal sense either - it's just a Merc school-run car - Taycan is a statement

 

[Finbo]

Why are so many people on here so hung up on depreciation - buy it, use it, enjoy it - sure the EQC makes financial sense but I can't imagine seeing that parked outside in the morning and going WOW! that's a cool car - and you won't look at it and congratulate yourself on it's fiscal sense either - it's just a Merc school-run car - Taycan is a statement

Hmmm, so 10s of thousands don’t matter over a 3 year PCP? What’s a 3 year on a CT4S, £75-80k? has to be close. You really think money doesn’t matter, changed times

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