nberry:So what kind of a lease deal did you get for the Performante?
Did you have to take a haircut on the R8?
Lease deal is good (for a Lambo), funny part is: It is Porsche Financial and they love to keep me as a customer. The lease has already been approved.
I want to buy the car though, so I may not take the deal after all. Final decision will be made once the car arrives at the dealer. According to my understanding with my dealership, I can decide if I want to lease or buy once the car arrives.
R8 goes back to VW Financial once the Performante arrives, no issues, no payments required anymore but I cannot drive more than 2000 km in my R8 until it goes back, which isn't really an issue. My luck is that the Audi dealer is also my Lambo dealer, same ownership.
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RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
nberry:Porsche financial approves just about everyone. It's good for business.
In Germany, you need a certain credit score and income. Not that easy, especially if we're talking a 3k EUR per month lease rate without initial payment. 😛
Most lease or finance requests fall through here, unless the initial payment is VERY high and you pay a low monthly rate.
It may be different in the US but from what I heard, it is even worse.
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
4trac:And while you wait RC, you can play this little Performante drive on loop... Henry C, a Performante, and no talking...
Brilliant!
1969 Mercedes-Benz 300SEL 6.3 / 2008 Porsche 911 GT3 RS (sold) / 2011 Mercedes-Benz C63 AMG Performance / 2014 BMW-Alpina D3 biturbo Touring / 2018 Porsche 911 GT3 Clubsport
Porker:4trac:And while you wait RC, you can play this little Performante drive on loop... Henry C, a Performante, and no talking...
Brilliant!
Superb video indeed. I almost got the Spyder, now I kind of regret not getting it.
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
This is currently my favorite (Christmas) Huracan Performante video...
https://www.youtube.com/watch?v=lxkxxFmqMwA
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
RC:This is currently my favorite (Christmas) Huracan Performante video...
Ha, hilarious- and who says AWD on a supercar is useless.....
2017 Range Rover Sport S/C, 2009 Porsche 911S
RC:nberry:Porsche financial approves just about everyone. It's good for business.
In Germany, you need a certain credit score and income. Not that easy, especially if we're talking a 3k EUR per month lease rate without initial payment. 😛
Most lease or finance requests fall through here, unless the initial payment is VERY high and you pay a low monthly rate.
It may be different in the US but from what I heard, it is even worse.
Of course an acceptable credit score and minimum income would be required. Who would walk into a Porsche dealership without those? Most get approved.
Stress is man made.
nberry:RC:nberry:Porsche financial approves just about everyone. It's good for business.
In Germany, you need a certain credit score and income. Not that easy, especially if we're talking a 3k EUR per month lease rate without initial payment. 😛
Most lease or finance requests fall through here, unless the initial payment is VERY high and you pay a low monthly rate.
It may be different in the US but from what I heard, it is even worse.
Of course an acceptable credit score and minimum income would be required. Who would walk into a Porsche dealership without those? Most get approved.
You'd be surprised. Talked to my Lambo guy this morning, at least half are not approved for a lease but surprisingly many of these not approved are able to buy the car (no cash allowed, so legit). He worked at Audi before. For the R8 basically every third customer wasn't approved, sometimes he had customer after customer not being approved. Also no buying, weird.
Most approvals also often require extensive paperwork and proof of financial wealth, etc., which can take weeks.
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RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
In the USA it is very hard for someone in the top 0.1% to get top credit scores, mainly because your credit card balances are too big, and because your don’t have debt or mortgages, and if they do they are not in their name but in LLCs... Basically to have top credit scores, you have to show you can have debt and repay it properly, weird...
RCThe SVJ is a beast... Also basically sold out. My German dealer gets four cars (with 17 customers on the list who have already paid the required 30k EUR ...I do not envy them when they call the customers who don't get one), Germany gets 35 (or was it 34?) cars.
Keep in mind that Lamborghini builds 9xx SVJs and it is basically sold out. You cannot get a regular Aventador right now because of that and those available at dealers cost a premium or will be sold at MSRP with a couple of thousands of miles on them
I am very surprised that Germany gets so few given that they are making 999 of them. Does not seem right .
bobr:I have found that Porsche Financial Services rates to be not competitive with banks in the US.
Same thing in Germany, with the exception of Lamborghini, obviously. I checked with two other lease companies, basically same prices, so why bother?!
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
crayphile:RCThe SVJ is a beast... Also basically sold out. My German dealer gets four cars (with 17 customers on the list who have already paid the required 30k EUR ...I do not envy them when they call the customers who don't get one), Germany gets 35 (or was it 34?) cars.
Keep in mind that Lamborghini builds 9xx SVJs and it is basically sold out. You cannot get a regular Aventador right now because of that and those available at dealers cost a premium or will be sold at MSRP with a couple of thousands of miles on them
I am very surprised that Germany gets so few given that they are making 999 of them. Does not seem right .
Of course not but I assume in other countries, higher prices (premium) are paid.
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
nberry:Porsche rates are hideous and the reason why they approve most applications. In the US, Porsche usually approves or declines credit within 24 hours.
If this would be true in Germany, everyone would drive a Porsche.
I don't know about the US but in Germany, even people with low(er) income seem to try to apply but don't succeed.
I remember the story of a 20 year old who wanted to lease a Boxster for him, he made 800 EUR per month or so, lease was 699 or 799, don't remember and parents wanted to pay the initial payment of 22000 or 25000 and since that guy lived at home with his parents, he argued that he didn't need his income for living cost. No chance for him to lease the car, he had to have his own income and he didn't qualify.
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
SciFrog:In the USA it is very hard for someone in the top 0.1% to get top credit scores, mainly because your credit card balances are too big, and because your don’t have debt or mortgages, and if they do they are not in their name but in LLCs... Basically to have top credit scores, you have to show you can have debt and repay it properly, weird...
Not weird, similar system in Germany. I have a better credit score than a friend of mine and he definitely makes more than I do. He inherited everything from his parents a decade or so ago, no debt, nothing. His credit score came to light when we both were at my investment guy at my bank. Everyone was quite surprised. The past lease contracts I had over the last two decades certainly raised my credit score.
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
Dec 9, 2018 11:20:14 AM
Guy with no debt doesn't interest the bank much...they make no money on it.
Mortgages and loans, if proved to be repaid are a good tool for them to see if you are profitable!
GT Lover, Porsche fan
991.2 GT3 manual, 991 GT3 2014(sold)
Cayenne GTS 2014
Dec 9, 2018 11:53:34 AM
the-missile:
Mortgages and loans, if proved to be repaid are a good tool for them to see if you are profitable!
Right - no track record in serving debt is worse than a good track record (from a lender's perspective). In so far RC is correct with his assumption that previous leases helped his score. The guy with the inherited wealth but no regular income stream may put his fortune at risk in a dumb investment move (all eggs in one foul basket) and then would be unable to serve the lease contract. If RC would do the same stupid thing (just for argument's sake..) he still would have recurring cash flow from his business.
Daily Driver 991 Carrera T (June 2018), Canyon Carver 981 Spyder, Track Machine 997 GT3
RC:SciFrog:In the USA it is very hard for someone in the top 0.1% to get top credit scores, mainly because your credit card balances are too big, and because your don’t have debt or mortgages, and if they do they are not in their name but in LLCs... Basically to have top credit scores, you have to show you can have debt and repay it properly, weird...
Not weird, similar system in Germany. I have a better credit score than a friend of mine and he definitely makes more than I do. He inherited everything from his parents a decade or so ago, no debt, nothing. His credit score came to light when we both were at my investment guy at my bank. Everyone was quite surprised. The past lease contracts I had over the last two decades certainly raised my credit score.
Congrats on the Performante order! Indeed, credit scoring works like that. It helps if you use credit cards a lot though.
They also like to delete your past credit history even if you move abroad for a short period of time...
wantone:RC:SciFrog:In the USA it is very hard for someone in the top 0.1% to get top credit scores, mainly because your credit card balances are too big, and because your don’t have debt or mortgages, and if they do they are not in their name but in LLCs... Basically to have top credit scores, you have to show you can have debt and repay it properly, weird...
Not weird, similar system in Germany. I have a better credit score than a friend of mine and he definitely makes more than I do. He inherited everything from his parents a decade or so ago, no debt, nothing. His credit score came to light when we both were at my investment guy at my bank. Everyone was quite surprised. The past lease contracts I had over the last two decades certainly raised my credit score.
Congrats on the Performante order! Indeed, credit scoring works like that. It helps if you use credit cards a lot though.
They also like to delete your past credit history even if you move abroad for a short period of time...
Thank you.
A friend of mine moved to the US a couple of years ago, it is a pain in the a.. to build a credit score, he basically pays everything over 1000 in cash or via bank transfer because his US credit card(s?) aren't good for much. He also cannot use his European credit card anymore because he moved to the US and closed all his bank accounts in Europe (probably a mistake). Sad: If you had an Amex for almost 20 years in Europe and spent at least 50-100k EUR per year with it and you move to the US and get an Amex in the US, you basically start from scratch. Ouch.
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
SciFrog:RC, he can just prepay his credit card and use it at will...
He knows but this doesn't really seem to improve his credit score...
His wife is especially annoyed because she needs to carry cash with her and/or put money on the credit card all the time. They now have a monthly credit card prepaid "payment", so they don't have to bother anymore but still, pretty annoying. He is especially p.ss.d at Amex because he was a customer for so many years but I get both sides.
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
Well as you know Americans love to pay in cash since the underground economy is so big... Sad but true. So at least she does not look like an outlier in stores. But again, just pre-load and credit card and cash is not necessary. Also they need to make sure they have many cards (4-8), it will help they score. And if they can have a mortgage or lease a car, even better. But honestly, if you have money, low credit score is just an annoyance, not an issue.
Dec 12, 2018 7:55:04 AM
SciFrog:Well as you know Americans love to pay in cash since the underground economy is so big... Sad but true. So at least she does not look like an outlier in stores. But again, just pre-load and credit card and cash is not necessary. Also they need to make sure they have many cards (4-8), it will help they score. And if they can have a mortgage or lease a car, even better. But honestly, if you have money, low credit score is just an annoyance, not an issue.
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
Dec 12, 2018 12:49:14 PM
Dec 13, 2018 9:21:07 AM
the-missile:let's just go back on earth and not bitching about credit card issue because of wealthy cash money ready somewhere
cash is king
Not here...it makes you look suspicious.
Many car dealerships don't even accept cash payments over 10000 EUR anymore, even if there is no law saying it isn't permitted (EU law says that cash payments over 10000 EUR can only be done with proper identification but they're not forbidden). In Italy for example however, cash payments over 2999,99 EUR are forbidden. A Russian who wanted to pay his bill at the hotel in cash had to learn it the hard way. A friend from Milano wired the money up front before he left, thank god the receptionist told him when he arrived. We talked about this at the pool, he was pretty pissed at the Italians and said he will never return again to Italy.
Even France has some restrictions as far as I know but I have no details.
RC (Germany) - Rennteam Editor Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Range Rover Evoque Si4 Black Edition (2019)
Dec 13, 2018 10:03:08 AM
RC:the-missile:let's just go back on earth and not bitching about credit card issue because of wealthy cash money ready somewhere
cash is king
Not here...it makes you look suspicious.
Many car dealerships don't even accept cash payments over 10000 EUR anymore, even if there is no law saying it isn't permitted (EU law says that cash payments over 10000 EUR can only be done with proper identification but they're not forbidden). In Italy for example however, cash payments over 2999,99 EUR are forbidden. A Russian who wanted to pay his bill at the hotel in cash had to learn it the hard way. A friend from Milano wired the money up front before he left, thank god the receptionist told him when he arrived. We talked about this at the pool, he was pretty pissed at the Italians and said he will never return again to Italy.
Even France has some restrictions as far as I know but I have no details.
I was obviously talking about making a bank transfer and not a cash notes
for the payment, we are not allowed to go above 1000E in cash but as much as you like in transfer so no big deal.
debit card can do the everyday job to gigantic amount...credit card is really not necessary.
GT Lover, Porsche fan
991.2 GT3 manual, 991 GT3 2014(sold)
Cayenne GTS 2014