Published on November 2nd, 2017 | by Subhash Nair0
Porsche’s 360 Financing Explained
Yesterday’s headlines were dominated by the launch of the Porsche 911 GT3, but there was something else launched which was just as awesome: Porsche 360 Financing.
Finally, Porsche have stepped the game up and are offering a way to own one of their cars without having to go through a bank. Here’s why you might be interested in it instead of a conventional hire purchase.
1) Banks are getting more stringent with who they lend money to. If you can show Porsche that you can afford it, you may as well cut out the reluctant middle man.
2) You still get most of the benefits that banks offer. You can take up to a 90% loan on the price of the car and that loan can be stretched anywhere between 3 and 5 years. Plus, Porsche 360 Financing is available is all their models (besides those with ‘GT’ in the name)
3) There are actual ownership benefits to this financing scheme. As an owner, all you need to take care of for 4 years are the tyres and fuel. Porsche’s 4 year warranty and 4 year maintainance programme covers the rest.
4) Resale value is also assured the moment you sign up. If they promise you the car will be worth RM204,000 after 5 years, if you take reasonably good care of it, they’ll offer you RM204,000 for your car after 5 years.
5) This will sometimes lead to situations where you would sell the car for more than what you paid (due to the 30% installment savings). You can use that as a trade-in/deposit for your next Porsche.
6) Or if you really have fallen in love with the car you originally purchased (Porsches ARE special), you can talk to your bank about another, seperate loan to settle what’s due.
Here, we’ll let the experts do the explaining: