Specialist
Best ways to finance a Porsche car purchase in the UK
For buying and refinancing Porsche cars
Speak to us today...
For buying and refinancing Porsche cars
Speak to us today...
High quality Porsche finance solutions for UK & international clients.
We can deliver enhanced, bespoke or exclusive terms through our market knowledge.
Call us on 0203 900 4322 to discuss your requirements.
Asset finance is a great alternative for business owners looking to purchase an expensive asset, in this case, a Porsche car. To most, buying outright with cash is infeasible as an expensive asset requires sizable funding that is not always to hand.
As a business owner, a company purchase of necessary equipment or machinery or indeed a vehicle may amount to upwards of £50,000 (if purchasing outright).
However, a more affordable solution can be found with asset finance and business owners can arrange these terms with the vendor or dealership in question.
It is important to clarify the differences between asset finance and a business loan;
World-renowned German engineering holds a high pedigree, and high performance comes at a cost – a Porsche 911 Carrera starts from £89,800 (without considering options, subscriptions and additional features). Porsche also has a growing presence in the market of EV vehicles with the Porsche Taycan model at £75,500.
Additionally, an updated UK government scheme provides 75% of the costs of installing EV charge points on a property (up to a maximum of £350) meaning it may be the perfect time to make the switch to electric.
A Porsche is an all-around enviable sports car, preceded by a prestigious motorsports history. Yet, they are perhaps out of reach for most individuals or businesses through conventional means.
However, with asset finance, a business can allow for such a sizeable purchase while also protecting cash flow and stability.
Porsche purchases are typically made through their website – which offers a myriad of customisations, options and specifications to your liking. These can vary greatly in price, but here are some examples of their current line-up of two popular models, covering both petrol and electric.
There are a number of finance plans offered by Porsche, and many follow the same form. They include; personal contract plan, lease purchase, hire purchase and contract hire.
Additionally, consider Company Car Tax and the agreed upon deposit before asset finance, as this may affect your budget overall and require more financial planning.
Hire purchase is a finance plan allowing acquisition through a loan. Once repaid, ownership of the Porsche is transferred to you upon the final payment of the “option to purchase fee”
Porsche requires a 25% minimum deposit and allows an appropriate term which suits your monthly repayment (between 12 and 60 months). Additionally, Porsche does not restrict mileage with this type of asset finance and it is available for any model.
A “balloon payment” is simply choosing to defer a final amount to be paid at the end of the term in order to manage monthly payments – meaning you make smaller monthly payments but will have a larger lump sum to pay at the end of the hire purchase.
Porsche offer terms between 12 and 48 months, and you can choose your expected mileage. However, this will affect the total of the final balloon payment.
This follows the hire purchase plan, with the attachment of a balloon payment which can be ideal for buyers of higher-end models of considerable value.
Balanced payment plans offer a fixed monthly payment, but require a larger deposit. However, the caveat is that changes can occur to the interest rate.
The rate on a balanced payment plan is based on; The Bank of England, the finance house base rate or the London Interbank Offered Rate (LIBOR) depending on the agreement.
This plan is not advisable for first-time buyers, rather it is recommended only for the experienced investor – as it comes with both risk and reward.
However, with a variable rate, those with an appetite for risk can see savings on purchases if they’re looking into getting their hands on some of the latest Porsche models.
A contract hire follows the same form; a hire purchase combined with a balloon payment option. The estimated value of the car will determine the final payment amount. Contract hire may be best suited to those that wish to hire an expensive, high-end Porsche model without the worry of ownership.
With contract purchases, business owners and customers may claim expenses on monthly rental costs for the hire of the car. Additionally, VAT may be recoverable for VAT registered businesses.
Bear in mind, with this option, you will not own the car - contract purchasing will mean you only hire the Porsche car. When the term of hire comes to end, you simply return the vehicle to Porsche.
With PCP you get a flexible finance plan, similar to other forms of asset finance, but with a different approach.
You decide the repayment period (18-49 months), and the annual mileage, and the amount deferred for the final payment. Where PCP differs is the three options available at the end of the agreement;
Something to bear in mind is possible reductions in price of your chosen Porsche model, as you could end up with negative equity.
This will depend entirely on which asset finance plan you go for. Ultimately, once the loan is paid, you either own the Porsche, have the option to purchase it, or, if you have chosen a contract purchase, then you will have returned the car after the final payment.
Which is recommend will be determined by your own circumstances, but there are many flexible options for financing of a Porsche purchase to choose from.
An asset finance option that provides flexibility is perhaps most beneficial. And the asset finance plan offering this is the Porsche solutions PCP.
Regardless of your circumstances, we can find the right asset finance for you.
At Clifton Private Finance, we offer a specialist asset finance service for clients looking to purchase a Porsche in the UK. Our finance brokers can provide indispensable assistance in securing asset finance to purchase your dream car. Our Brokers will review your financial circumstances, providing expert guidance, and with their help, you will find the type of asset finance suitable for you and your chosen Porsche.
We offer cash flow matched repayments and government-backed CBILS facilities without a set asset age limit. Moreover, as an intermediary, your Clifton finance broker will work with Porsche to arrange your car finance plan and finalise your purchase. The Clifton broker team can deliver bespoke, enhanced or exclusive terms to finance new, used or auction-bought assets. Our finance brokers can draw on their extensive market knowledge to secure the most competitive asset finance solution for your Porsche car purchase.
Book a free and no-obligation telephone consultation at a time that suits you.
I approached Clifton Private Finance to help me get a mortgage as an Expat working in the Far East. I would normally 'cut out the middle man' on something like this and try to get myself a deal directly with the banks, but I am now sold on the broker concept and wouldn't hesitate to use Clifton Private Finance again. There were a number of complicating factors such as being an expat, the stamp duty holiday, the sheer amount I wanted to borrow and the fact I wanted it all wrapped up before the Stamp Duty holiday ended. It is clear to me now that the relationship that brokers have managed to foster with their banks means they can simply pull levers and make stuff happen that us ordinary folk cannot. Put simply, they are worth every penny, will take most of the stress out of the lending process, and seem to have access to deals that you just won't find on the internet. Thank you George and Jan for all your hard work!
James M
Luther was excellent. Very clear in his advice and explanations of products and was able to move things on very quickly when we ran into difficulties with the estate agents. Without a doubt I would recommend Luther to all friends, family and colleagues. Luther was a joy to deal with and took a lot of the stress out of a troublesome transaction, from my end. I would view Luther as real asset to Clifton Private Finance Ltd.
William W
The team at Clifton Private Finance has been outstanding, not only in helping me to obtain a mortgage on a slightly unusual home, but also in continuing to provide support and liaise with the lender and solicitors through to completion. Thank you for making the process of buying my first home much easier.
Chantelle S
Sam O'Neill, and the new lender he identified for me, worked tirelessly together using my time constraints, to make sure my mortgage application was completed on time. They are a brilliant company to work with, fast, efficient, open and transparent from the very beginning, and turned a seemingly impossible situation into a viable one. Sam was brilliant throughout the whole process and I would highly recommend him, and his colleague Helen, to anyone without hesitation, I cannot speak highly enough about them.
Myr B
I was incredibly lucky to find Clifton Private Finance after a search on line as their service has been more than exemplary. My point of contact was Sam 0’Neill and he was happy to help at every stage during the application of the bridging loan, making a stressful process much easier to deal with. He was always available by phone or email and gave prompt answers to queries I had as well as always getting back to me when he said he would. That to me is excellent customer service and I cannot thank him personally or the company enough for the support they have given me.
C Jefferey
Adam cannot thank you enough for all your support throughout this arrangement. You have gone more than the extra mile to support us. Without you we would not have got our dream retirement home. You have been most professional and personable. Liz and I would be more than happy if you wanted to use us a reference with respect to any future clients.
Nigel & Liz K - Bristol
You have certainly shown me that you do everything for your clients, including tolerating their excessive emails and questions for updates. I have been kept in the loop, from yourself, about why the delays were occurring (Nationwide, post etc) which I would like to highlight that I really appreciated. I certainly will be able to recommend you to others as and when the need arises.
Mr Morris
I recently contacted Clifton Private Finance after a Google search for bridging finance providers and was immediately struck by their efficiency and support. Forms were emailed over almost immediately and the necessary finance was arranged within a few days. None of the other companies I contacted came close to their professionalism, and the quote that I eventually received was impressive. Thank you Adam, your help has enabled us to reserve the house that we wanted and I certainly recommend you to others.
Mr M. R. - Oxford
Absolutely brilliant. The service was first class, got everything sorted efficiently and were always friendly. Any fees were negligible compared to the service offered. Robert was particularly outstanding.
Charles N
My advisor, Robert, was very helpful in finding the mortgage to suit me. He kept me up to date throughout the process and dealt with any issues when they arose.
Rowena C
.png)
