Pre-owned Porsche 911 finance
A friend of mine was looking to get his son a used Porsche 911 for his 21st birthday and was looking how to finance his purchase. We have all seen the deals for new Porsche 911 finance but what is out there for the used car market. Hence I got down to a bit of research to find out the best deals available.
My initial research took me to some of the main Porsche finance dealers and they all boast that they have the right deal to match your personal circumstances however I was amazed at the selection of deals not to mention the range of prices. I then looked at some of the national web based car traders and found that they offered insurance and finance deals which they then passed on to some major brokers who then stated they would find you the cheapest price.
One of the main factors which determined the competitiveness of the deal was the credit rating. I found that most companies would do a credit check and then base the interest rate on the credit score. For example if your credit rating is poor then your could end up paying 17% Apr wheras if you had an excellent credit score then the interest would be approx 10% APR which is a massive difference on the amount you will eventually be paying. However that was my initial finding but a little more reserach found that I could get it even lower than this with excellent credit scores.
My friend was fortunate enough to have an excellent credit score so I sifted through the various companies and eventually found that the cheapest rate he could get was 4.9% APR which tells me you have to do your research thoroughly. At this rate a £20,000 loan over 48 months would mean he would eventually be paying £22,000 which I feel is a very competitive deal.
How do I apply for Porche 911 Finance?
Applying for a used Porche 911 finance deal is suprisingly easy, almost as easy as my land rover finance deal was and really fast you just go into the car finance website and complete the online application form. (If you would like to know the site I used just contact me.) Once the company recieve you form they act as a broker and go to their range of lenders to find the best deal for you. What is amazing is that you get a reply in just minutes. Then they ring you to go over the options available to you and set up the loan. You are then free to go ahead and look for your car.