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    Sep 12, 2005 11:28:28 AM

    nick997
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    nick997
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    Balance Payment - UK Question

    How do most people pay the main payment - bankers draft on the day or a cheque written a week or so before hand to allow time to clear? Or is it possible to pay switch/delta on the day you pick up - not sure if this is on for such a large payment.

    In reality there are no worries about writing a cheque before hand and allowing the OPC to have the money without receiving the car. But there is always room for things to go wrong, however secure the dealership may appear you don't know the state of their finances or relationship with PGB...

    October build. That's not too far away now is it??

    Sep 12, 2005 11:41:29 AM

    Gaz
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    Gaz
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    Reply to: nick997

    Re: Balance Payment - UK Question

    I paid by switch - you end up spending 15 mins on the phone and answering umpteen security questions however. My OPC (East London) wouldn't take a banker's draft, let alone a cheque, unless they had a week to clear it. They said with the amount of fraud these days, even banker's drafts can't be trusted any more.

    Sep 12, 2005 11:52:52 AM

    P_Nut
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    P_Nut
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    Reply to: Gaz

    Re: Balance Payment - UK Question

    I paid by switch (west london).
    I called my bank a couple of days before the transaction to make them aware. On the day, the dealer just swiped the card, and the deal was done.

    Sep 12, 2005 12:09:30 PM

    wtsnet
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    wtsnet
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    Reply to: P_Nut

    Re: Balance Payment - UK Question

    Chip and pin. Stick the card in, punch in your number... job done!

    Sep 12, 2005 12:12:22 PM

    wtsnet
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    wtsnet
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    Reply to: wtsnet

    Re: Balance Payment - UK Question

    If it's not too rude Nick, what sort of interest rate did you get OPC down to?

    October... That's but weeks away!

    Sep 12, 2005 1:20:44 PM

    nick997
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    nick997
    Loc: UK
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    Reply to: wtsnet

    Re: Balance Payment - UK Question

    Thanks for the replies, looks like switch is the way to go.

    I've not discussed interest rates with the OPC. I did on my Boxster approx 5 years ago and they compared favourably with others I looked at at the time, can't recall figures though. I remember that they were cheaper than the likes of Tescos Finance which suprised me. Anyone else on this one? Very un-britsh to talk about such things of course...

    Sep 12, 2005 1:38:05 PM

    Rich C (UK)
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    Rich C (UK)
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    Reply to: wtsnet

    Re: Balance Payment - UK Question

    Quote:
    wtsnet said:
    Chip and pin. Stick the card in, punch in your number... job done!



    Or 'Chip and Porsche' as we like to call it!! Although still had to go thru' stupid ecurity questions despite using pin number - should be pleased they were checking though as it was Pounds40k+!!

    Sep 12, 2005 5:54:44 PM

    Ente
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    Ente
    Loc: Germany , Germany
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    Reply to: Rich C (UK)

    Re: Balance Payment - UK Question

    Cash, which produced a couple of surprised faces (though it wasn't the full amount). They told me Switch was the preferred method though.

    Sep 12, 2005 6:35:42 PM

    wtsnet
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    wtsnet
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    Reply to: nick997

    Re: Balance Payment - UK Question

    Quote:
    nick997 said:Anyone else on this one? Very un-britsh to talk about such things of course...

    The only discount I managed to get on the car was a discount on the finance rate, so it's worth haggling a little. Got them down to 2.5% over (variable) base rate on the balanced payments scheme, though someone more aggressive than myself could well get them lower than that.

    I feel they ripped me off a bit on the trade-in to get their own back though, but on handover day they really have your balls in the vice. "Sorry, the price we quoted you last month has changed - we can only offer you Poundsthis-much today"

    Sep 12, 2005 7:13:55 PM

    JohnA
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    JohnA
    Loc: Durham, UK , United Kingdom
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    Reply to: wtsnet

    Re: Balance Payment - UK Question

    I paid by Switch, and as I recall I was quoted 2% over base by Porsche which I refused because of a slightly better deal from Lombard

    Sep 13, 2005 8:31:00 AM

    londondude
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    londondude
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    Reply to: JohnA

    Re: Balance Payment - UK Question

    I have been quoted 7.4% by Royal bank of Scotland. ANyone have better offers than that?

    Sep 13, 2005 8:49:24 AM

    nick997
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    nick997
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    Reply to: wtsnet

    Re: Balance Payment - UK Question

    Quote:
    I feel they ripped me off a bit on the trade-in to get their own back though, but on handover day they really have your balls in the vice. "Sorry, the price we quoted you last month has changed - we can only offer you Poundsthis-much today"



    Don't like the sound of that one! Had you previously arranged a price for your trade in that they then would not keep too? I have been quoted a price for my trade in and was suprised that they did this so far in advance - so suprised that I got them to confirm in an email in the hope that would help if they argue the toss on the big day.

    Sep 13, 2005 8:55:43 AM

    nick997
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    nick997
    Loc: UK
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    Reply to: londondude

    Re: Balance Payment - UK Question

    Quote:
    I have been quoted 7.4% by Royal bank of Scotland. ANyone have better offers than that?




    2% over base rate is better than that making 6.5% today. Also I understand that with the Porsche scheme you can make unlimited over payments to reduce your balance owing - bit different to a conventional loan. 7.4% should be easily beaten, try M&S or Cahoot for high 5% to low 6%.

    Sep 13, 2005 9:12:29 AM

    Ed J
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    Ed J
    Loc: London
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    Reply to: nick997

    Re: Balance Payment - UK Question

    My trade in price was low - they reduced it on the day because the tyres on my trade in car were supposedly illegal. I was so excited about getting the 997 that I didn't spend too much time arguing. However, when they made a big deal about a slight mark on one of the alloys (and believe me, you needed a magnifying glass to see it) I felt a bit cheesed off.

    I got my own back by pointing out a tiny mark on the 997 which I made a big fuss about. I told the dealer that if his colleague hadn't made such a fuss about my trade in car, I wouldn't have highlighted it!

    I paid by Switch and similar to others above, spent about 15 minutes being quizzed by the bank before the money was transferred.

    Sep 13, 2005 10:27:01 AM

    wtsnet
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    wtsnet
    Loc: Bath, UK
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    Reply to: nick997

    Re: Balance Payment - UK Question

    Quote:
    nick997 said:
    Quote:
    I feel they ripped me off a bit on the trade-in to get their own back though, but on handover day they really have your balls in the vice. "Sorry, the price we quoted you last month has changed - we can only offer you Poundsthis-much today"



    Don't like the sound of that one! Had you previously arranged a price for your trade in that they then would not keep too? I have been quoted a price for my trade in and was suprised that they did this so far in advance - so suprised that I got them to confirm in an email in the hope that would help if they argue the toss on the big day.


    I'd go in with your car the week before, and get a valuation in writing that they guarantee to be the on-the-day value. This would a) give you a week to negotiate it. and b) prevent the issue spoiling the pickup day. I found that I had to act really grumpy and pissed off just to scrape Pounds500 back on the trade-in valuation they initially offered on the day. On the day you don't have much opportunity to walk away from the deal and I found it really spoilt my pickup day pleasure. But in the end it came down to a Pounds250 loss, so I caved in and tried not to let it get me down too much. The car was perfectly prepped.

    Sep 13, 2005 11:17:58 AM

    nick997
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    nick997
    Loc: UK
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    Reply to: wtsnet

    Re: Balance Payment - UK Question

    I'm slightly lucky (if thats the right word) in that I sold my M3 some months ago to stick the money in the bank ready for the 997 - had lost heaps on it already and didn't really want to lose loads more on a car that I wasn't bothered about keeping hold of. So I am only trading a run around that isn't worth that much in the first place but still the principle holds, nobody likes to feel ripped off. Mr OPC reckoned that you don't get many people trading a Pounds2500 car for a Pounds62500 one!

    Sep 13, 2005 5:08:28 PM

    easy_rider911
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    easy_rider911
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    Reply to: nick997

    Re: Balance Payment - UK Question

    What a terrible feeling buying a gorgeous car with a piece of plastic like a switch card - like going shopping at a supermarket!! But it's clearly the most sensible way of paying on delivery AFTER you've had a chance to check the car first which a cleared cheque won't make possible.

    Sep 13, 2005 7:24:51 PM

    wtsnet
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    wtsnet
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    Reply to: easy_rider911

    Re: Balance Payment - UK Question

    It's even more of a terrible feeling having to haggle tooth and nail for a decent trade-in price! Really cheapens the experience.

    I think paying by card is casually cool. Less hassle anyway. I didn't get any questions from bank, just chip and pin. Done.

    You thinking of paying with a case of gold bullion?

    Sep 14, 2005 11:33:19 AM

    nick997
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    nick997
    Loc: UK
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    Reply to: wtsnet

    Re: Balance Payment - UK Question

    Quote:
    You thinking of paying with a case of gold bullion?



    No, a dodgy old Citroen and a case of gold bullion

    Sep 14, 2005 11:38:21 AM

    Gaz
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    Gaz
    Loc: London, England
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    Reply to: wtsnet

    Re: Balance Payment - UK Question

    Quote:
    wtsnet said:
    It's even more of a terrible feeling having to haggle tooth and nail for a decent trade-in price! Really cheapens the experience.




    Agreed - it certainly spoilt my 997 experience. And they won't quote you a trade in until your deposit is non-refundable either, so there's no way you can threaten to pull out
     
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