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[jpegnall]

Finally decided on purchasing a Granturismo, the intention is to buy one around a year - 18 months old and on PCP (I usually get my cars from new on PCP - C63 is the outgoing car). The guaranteed future values on the first quote I have got is shocking (purchase price is £60k, GFV after 36 months is just £21k compared with a new C63 which is pp of 60 and a GFV after 36 months of 33k). I know that Mas have a reputation of high depreciation hence why I am purchasing a used one but has anyone got any experience of PCP and/or any other financing of a maserati - maybe dealers can offer a better GFV.

I've got comfortable on all of the costs, but I have set myself a upper limit of monthly finance cost and the stupidly low risiduals makes it terrible value (money would go a lot further buying a new car elsewhere - which I obviously don't want to do).

Anyone with any advice/recommendations on best approach?

Thanks

 

[87ME]

Hi,

I've just bought an 2008 plate Granturismo, 30k miles on the clock, full main dealer service history for way more than £21k. I think if you take a look on Autotrader at the prices of similarly aged cars as what yours will be at the end of the term then you'll get a good indication as to what it'll be worth. How do they arrive at £21k - are you driving mega miles?

 

[jpegnall]

Hi,

I've just bought an 2008 plate Granturismo, 30k miles on the clock, full main dealer service history for way more than £21k. I think if you take a look on Autotrader at the prices of similarly aged cars as what yours will be at the end of the term then you'll get a good indication as to what it'll be worth. How do they arrive at £21k - are you driving mega miles?

6000 a year! Yes I've been through autotrader and know the GFV is too low, maybe it reflects the car is hard to shift or could be worth less if not treated well - it's just frustrating as it makes the monthly finance cost higher than it should be. Finance company said its a computer calculation!

 

[Andyk]

Hi jpegnall and welcome to the forum.....That GFV after 3 year is shocking....YOu just have to look at current residuels to see that it will be worth much more.......Thats just the finanace company making sure they dont loose out...As you say Maserati still has a reputation of shedding money even though it is no longer true.....The GT is one of the better cars in its class.

 

[jpegnall]

Hi jpegnall and welcome to the forum.....That GFV after 3 year is shocking....YOu just have to look at current residuels to see that it will be worth much more.......Thats just the finanace company making sure they dont loose out...As you say Maserati still has a reputation of shedding money even though it is no longer true.....The GT is one of the better cars in its class.

But mine is for 3 years after purchase of a 1 year old car - so thought it would be better. At 60k purchase price the car in a year has already shed the best part of 40k, the GFV suggests the car could shed another 40k in the next 3 years.

New - 97k (estimate with the options on this car)
1 Year - 60k (although trade would have been 52-55)
2 Year
3 Year
4 Year - 21k (GFV)

I was executing a GFV of 30 minimum at 4 years based on 6k milage.

 

[MAF260]

I've read/heard good things about Oracle finance - I believe they're an independent finance house that specialise in high end vehicles. You should also have a trawl on Pistonheads and maybe ask the same question on there - plenty of people discussing finance there for some very expensive machinery.

 

[jpegnall]

I've read/heard good things about Oracle finance - I believe they're an independent finance house that specialise in high end vehicles. You should also have a trawl on Pistonheads and maybe ask the same question on there - plenty of people discussing finance there for some very expensive machinery.

Great thanks, will give them a go and will post on piston heads. I'll post up what comes out of this on here for anyone else looking at PCP - hopefully I'll get close to where I want to be.

 

[Parisien]

Do shop around, ask those in the know, not those who are going to make money out of you, let us know how it turns out......


P

 

[Rwc13]

I have used Oracle finance in the past and I would certainly start there. Try a chap called Robert Jones there.

 

[jpegnall]

Update (GT/Ghibli financing)

Do shop around, ask those in the know, not those who are going to make money out of you, let us know how it turns out......


P

Thought I'd try to give everyone an update as to where I got to on the guaranteed future valuations on the GT and also general financing - some interesting info when comparing the deals offered for other cars including Mercedes and Ferrari.

So having spoken to dealers, Oracle and posting on a few other sites it would seem Oracle offer the best deal.

Based on a 2013 GT with 12k on the clock at a purchase price of £65k;

Best interest rate is 7.9%
Best 3 year GFV (based on 6k a year milage) would be £26k
Monthly cost of about £1200

Compare this to a brand new C63 507 (with good options) purchase price of £75K

Mercedes finance interest rate is 4.9%
Dealer deposit contribution of £9k
Best 3 year GFV (based on a 10k a year milage) would be £34k
Monthly cost of about £750

Over 3 years (assuming you hand the car back) it is £16k more to have the 10k cheaper 1 year old Maserati GT than the brand new high spec C63 507 edition. Even if I get 10k equity out of the GT (which won't happen) I could save the difference and build a nice deposit for the next car.

I only compare the two because I am interested in the C63 and yes you can't compare the cars as one is a "boring" german executive car with muscle and the other is, well a dead turning maserasti. I could go older but I am thinking I might get the C63 for 3 years and then with hopefully a larger budget be able to get one of the 2015 GT's.

Interstingly when comparing the 75K 507 C63 with the Ghibli's (both the diesel and petrol) the C63 came out significantly cheaper (poor GFV + lack of any worthwile discount/dealer contributions make the Ghibli (with 5K of options) about £400-£500 a month on PCP more expensive than the C63 507 and the standard petrol about £600-£700 more (in each case with a like for like deposit). I can see the car being popular but it won't get anywhere near the sales they want without decent finance deals.

People have said, and the dealers also said that there should be a fair amount of equity in the car over the GFV (wheras the Merc will probably not have much in it as they inflate the GFV), but I have heard a lof of people struggle to get good p/x deals on maserati's that I'd rather pay a lower monthly amount on the C63 and just have the flexibility to hand the car back at an okish price without the stress of having to get equity out of it.

Oracle said their system puts maserati at the lowest end of the list for depreciation so you will always get **** finance deals -they recommended that I go for a 3 of 4 year old ferrari (possibly a 612 for a GT equivalent) which would give me a far better rate of depreciation (price saving over the maserati for a identically priced second hand 612 would have come in at around 9k over three years which is a lot).

 

[zagatoes30]

Maserati is never a good decision with finance companies based on depreciation predictions unfortunately

 

[DonnyMac]

You don't think you'll get £10k+ equity out of a four year old GT with GFV of £21k - why?

 

[bigbob]

I think there is a lot of mis-understanding here as Maserati has some of the highest residuals of cars in the £70-100k price bracket. For a start you will get £10k of a new one at the moment so a nice GTS is c£83/87k built to your colour choice, secondly trade on a four year old GranTurismo GTS is over £40k so the amount of equity they are putting at the back end is immense, thirdly with a C63 you are buying a £25k car with a big engine in it, great as it is you cannot escape from that fact. Upshot is the cars don't even compare as ownership propositions.

Sorry to be blunt but compare the GranTurismo with a CL500 for a more meaningful price comparison.

 

[jpegnall]

Maybe if I sold it privately I'd get 10-12k equity right, but coming to the end of a PCP deal realistically you px it and they'd give you trade - you think i'd still get 10k out of the car? (milage would be about 35k).

 

[bigbob]

Can only repeat my post - if it is a GTS rather than a GT you are looking at then there will be £15k of equity in it on current trade prices.

 

[bigbob]

How much equity in the Merc?

 

[hodroyd]

I'm not a C63 fan, foot down, burn rubber for a bit, end result new tyres every couple of thousand miles and not that much fun doing it...in a mercedes..??

 

[bigbob]

Put it another way, unless there is more then £8k equity in the Merc then the Maser will cost you less. The market is obsessed with monthly payments whereas whole life costs are far more informative.

 

[jpegnall]

Thanks really helpful info.

Re the quity in the merc - very little so it would probably (based on what you say about the equity in the Maserati) balance out or even end up better off with the Maserati if I managed to sell privately or get a very good p/x offer - my main issue is I am constrained by a monthly budget of about 1k (realistically) and with the GFV being so low and having a fairly low 10k deposit - the monthly amount is almost double for the GT at 1250 which sadly I can't part with. I'd go for an older one but unfotunately it is a joint decision on the car and the Mrs won't have a car older than a year (don't ask, you just can't reason with it - maybe a test drive will change her mind).

And agreed with what people are saying in terms of comparison with the C63 - I only put the numbers down as it was the other car I looked at in detail for financing - I'd much rather have the GT but will have to wait for a few more years.

 

[bigbob]

Buy 4 year balloon finance rather than 3 to get the monthly payment down?

Bigger deposit?