Good news for those whose sights are set on a new Porsche. Official distributor Sime Darby Auto Performance (SDAP) has introduced a new financing programme that makes it easier to have a new Porsche in your porch. Porsche 360 Financing, as it’s called, gives one the chance to drive away a Porsche from just RM6,000 per month.
SDAP describes Porsche 360 Financing as “an intelligent alternative to conventional financing by promising lower monthly payments and flexible terms for better cash flow management.” Within the third to fifth year prior to the end of the financing programme, owners can trade-in their vehicle for a new Porsche, or refinance the loan amount.
“Porsche owners can now experience a new Porsche model every three to five years without worrying about their financing commitment or the resale value of their vehicle. To drive a Porsche and upgrade to the newest model on a regular basis? It does not get much better than that!” said Arnt Bayer, CEO of SDAP.
“We believe the lower monthly payments are really attractive for our customers. They can now finance a new Macan with a 90% loan margin for five years and only pay around RM6,000 in monthly instalments,” he added.
How it works isn’t too different from similar schemes already in the premium market. The customer chooses his/her financing period of three, four or five years, which establishes the assured resale value of the chosen car.
At the end of the agreed tenure, the customer will have three options. The first is to trade in the car at an authorised Porsche Pre-Owned Centre at the assured resale value. The programme is structured in such a way that the remaining loan amount is generally lower than the assured RV. Consequently, the owner would then receive a balance payment that can go towards the downpayment for a new Porsche.
The second option, available from the third year onwards, is to extend the financing or to terminate it by settling the outstanding amount in full. The third option is to return the Porsche without any additional commitments, except for any potential excess mileage charges and the vehicle being subject to fair wear and tear.
In order to uphold the assured RV, those who buy into the programme are required to service and maintain the vehicle at an official Porsche service centre. That’s not an issue when all cars sold by SDAP come with a four-year warranty and four-year free maintenance package including service, parts and labour charges. The warranty can be extended up to nine years, at a fee.
Before you start dreaming of the new Porsche 911 GT3 that was launched earlier today, Porsche 360 Financing is not applicable to GT and limited edition models.
Looking to sell your car? Sell it with Carro.
RM6,000 per month is peanuts from company capex and enjoy lower tax deductions. Now all directors drive a Porsche
Go to Sunway tower. U will see many Porsche parked at “Reserved” parking lot even B4 this article. There are more Porsche then Merc/BMW/Audi.
Better to enjoy Porsche than pay corporate taxes
ini call leasing la
Wow didn’t know cars had an assured resale valie
Toyota SA says toyota cars has “assured resale value”…
No longer assured
It’s now guaranteed..
“RM6000″…….”Lower”
He he he. Porsche is Very CHEAP & affordable for the Rich. Pay RM6,000 only per month & all cars sold by SDAP come with a 4-year warranty/4-year FREE maintenance including service/parts/labour.
Wait a minute, better read the T&C B4 singing the dotted line. The T&C looks like Porsche is tying U down for life. Smart move by SDAP. Sound so gud/Sedap. Only time will tell if its Sedap.
Monthly installment 6,000
Loan amount 450,000
Loan tenure 5 years = 60 months
60×6,000= 360,000
Something is either not correct or not explained.
With a RM450,000 loan over 5 years, you’d usually need to pay around RM8,450 per month.
With this, you’re only paying RM6,000, so the difference is RM2,450 x 60 months = RM147k
SDAP then guarantees it’ll buy it from you at an Assured Resale Value of RM204k, so this more than covers the difference above (RM147k), leaving you with around RM57k/56k to put into a new Porsche.
Daily rental rate on one of these goes upward of 4k.
Rent it out for 2 days and you more than cover the monthly instalment.
Smart move, Porsche.
Commercially viable ? Looks like porsche x making much here
“If the car is RM450,000 and loan over five years, I have to pay RM8,450 per month, so after five years I will pay a total amount of RM507,000.
With this, you’re only paying RM6,000, so the difference is RM2,450 x 60 months = RM147k. SDPA then guarantee Assured Resale Value of RM204k, more than cover the difference of RM147k. Leaving you with around RM57k to put into a new Porsche.”
So what you mean is you only pay RM6,000 x 60 months = RM 360,000 for the car over five years. After five years you still can sell the car back to SDPA for RM204k to cover the remaining RM147k unsettled payment, so you can get another RM57k. So you only pay 303k (360k – 57k) for a brand new Porsche over five years.
So instead of paying 507k, now I only need to pay 303k for a new Porsche over five years under this new programme. Hafriz, is this what you mean? This is too good to be true or your calculation is wrong.
Well, you pay $303k for a brand new Macan for five years but you own nothing at the end of five year. This is just like leasing a car.
You forgot the initial downpayment of RM 50,000. Which works out to RM 353,000 for 5 years, but which requires you to sell your old Macan and buy a new porsche at the end of the 5 years or else the Assured Resale Value does not apply. In which case, it works out to a 5 year fixed and unrevocable lease of the Macan at the rate of RM 5883 per month.
If the rich guy/gal needs to take a loan to buy a porsche, then he/she is not that rich afterall.
i think the rich prefer to utilise bank loan or facilities instead of using their own money.
Residents in putrajaya are best paid & cash rich too.
In this era of historic low interest rates, most financial savvy people will take loan to buy the car, and invest their cash elsewhere.
So, basically this is a leasing deal?
Like how other car manufacturers are doing in other countries for everyday cars….
In other words, the simple way: leasing a Porshe from RM120k a year, minimum 5 years contract.
U need a better calculator.
My income is 30k a month and I can’t afford 6k for car every month. Full stop.
Ekchelli you can but you prolly have too many commitments already
Yup, with our currency value AND prices of cars and houses in Malaysia, you will need an income of 90k a month to be able to afford a passive disposable income of 6k on a car period.
can this be deducted under company operating expenditure expenses ?