UK Finance via Business PCP ?

[103 CR]

HI Folks,

My Taycan Turbo is due to start production shortly and I am looking for a business PCP.

Can anyone suggest a UK lender who will offer a buisness PCP ?

Had anyone else done it this way and who was that with and at what interest rate ?

Thanks in advance

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[MJDCT]

I just did it with my dealer.

 

[103 CR]

I tried Porsche finance but they won’t do it for me because the ltd company is new - not enough track record .
Offered to give a personal guarantee . Made no difference. Computer still said no.

 

[103 CR]

Just to add my credit score is rock solid.

 

[Dan1210]

Be interested in this thread, im a sole trader in construction, is it possible to do the pcp through the business? I understand there is some sort of saving via this route rather than personal?

 

[Beardo]

Charles and Dean, Lombard are a couple - Porsche direct is perhaps now cheapest as the rates are creeping up

 

[MTGBUK]

I tried Porsche finance but they won’t do it for me because the ltd company is new - not enough track record .
Offered to give a personal guarantee . Made no difference. Computer still said no.

Unfortunately if Porsche says no then you're going to struggle to find another lender as there aren't that many out there that offer Business PCP. Ordering a Turbo makes it even more difficult as I believe some only have a £100k limit.

You might get away with 2 years but in general without 3 years worth of good accounts your options for business lending is going to be restricted to only a few lenders. I would say more so now due to Covid.

 

[W1NGE]

HI Folks,

My Taycan Turbo is due to start production shortly and I am looking for a business PCP.

Can anyone suggest a UK lender who will offer a buisness PCP ?

Had anyone else done it this way and who was that with and at what interest rate ?

Thanks in advance

Get your accountant to show the Personal PCP vs Business PCP advantages / disadvantages coupled with running as a company car or not.

100% Capital Allowances in Yr 1 (please check)
1% Benefit in Kind (personal tax - therefore as a company car you won't get hammered at all)
£0 road tax
VAT - not sure, perhaps.
There may be a Porsche Finance tool on the website which explains their various methods of financing - check that out.

Porsche Finance is VW Finance (same across all VW brands) behind the scenes.

Your dealer should have a Finance person who can help further but best always to seek 2nd opinion from an Accountant.

 

[sbarker108]

I've ordered mine on a Porsche lease although I suspect you'd encounter the same issue with the accounts if you don't have three years. Saves on corporation tax and VAT so it works out significantly cheaper. I'm not concerned with keeping the car at the end of the deal.

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