For many luxury car aficionados, buying a Porsche is the ultimate goal. Here at Magnitude, we have a range of affordable finance packages to take you one step closer to getting behind the wheel of one of these iconic cars. We’ve been doing this for almost thirty years and have access to a panel of more than twenty lenders, and you could be next to benefit from our expertise.
If you’re interested in buying a Porsche, this guide is made for you. We’ll cover:
- Everything you need to know about the history of Porsche.
- Which Porsche models are currently on the market and which one is best for you.
- Why buying a new Porsche is a good investment.
- All you need to know about financing a car, such as why financing is so popular and why it’s a great option when it comes to luxury cars like the Porsche.
- The finance packages offered by Magnitude, and which one is right for you.
History of Porsche
The Porsche has a long history, stretching back almost 100 years to the production of the first of these classic cars, the Porsche 64, in 1939. Its development included many components from the Volkswagen Beetle, which was developed in the early 1930s.
Since then, Porsche has maintained a close connection to Volkswagen. In 1969, the two companies worked together to produce the VW-Porsche 914 and the VW-Porsche 914-6. Interestingly, the former had a Volkswagen engine while the latter had a Porsche engine.
The Porsche 365, which is now sought after by collectors, was first sold in 1948, several years after the 64 was produced. But it wasn’t until after the Second World War that the Porsche as we know it began to emerge when Porsche began to produce race cars such as the 550 Spyder.
In 1964, the first Porsche 911, a sports car with a 4-litre, 6-cylinder engine, was released. The 912 was similar in design, but with a 4-cylinder engine. Many more sports cars were developed and produced throughout the 20th century, including the 908 and 917.
Certain models remained popular into the 21st century – in North America, for example, the Boxster (first sold in 1996) and Cayenne (first sold in 2002) models were bestsellers for years, until being overtaken by the Porsche 911 in 2006.
Since 2010, Porsche has been producing and selling hybrid and electric vehicles, beginning with the Cayenne S Hybrid. The Panamera S Hybrid was announced the same year, and the electric Boxster E was developed in 2011. In 2013, the plug-in Panamera S E-Hybrid was released. Following this, in 2017, Porsche installed their first charging station while continuing to develop more electric cars.
Porsches are frequently seen in motorsports and the brand has produced hundreds of race cars, with more expected in the future.
Why is car financing becoming the go-to?
Porsche is a popular brand among car collectors, known for its luxury and sports cars. It’s perhaps not surprising, then, that these cars are expensive, and you may not want to pay for a Porsche all in one go. That’s where financing comes in.
Financing a car such as a Porsche allows you to split payments over a fixed period, usually, around 3 years, which makes it a much more flexible – not to mention affordable – method of buying a car than paying everything upfront. It’s also possible to trade in your car or part exchange once the agreement term is finished. This gives you the freedom to drive a different Porsche every few years, so if you’re someone who likes to drive new models as much as possible, financing is a great option for you.
We’ll go into more depth in our finance section, but for now, let’s take a brief look at some of the finance plans available.
Hire Purchase Finance
One example is Hire Purchase Finance, which involves putting down a deposit and then making monthly repayments over a fixed period. The size of the deposit may vary, but the more you pay at the start, the less you’ll have to repay over the following months. You won’t own the car until the repayments are all made, after which it will be yours. You could also reduce your payments throughout the term by making a balloon payment at the end – more on this later.
Personal Contract Purchase
If you like the idea of being able to drive a different Porsche every few years, it’s worth looking into our Personal Contract Purchase finance package. Again, you’ll pay a deposit and then make repayments every month over a fixed term. You could choose to make a final payment and own the car at the end of the finance term, but many people choose a Personal Contract Purchase so that they can trade the car in and upgrade to something new.
Another option when financing a car with Magnitude is a Balanced Payment agreement. We normally recommend this for customers with previous borrowing experience, as you’ll be subject to national interest rates and it’s important to understand the risks involved in this.
A bespoke finance plan is right around the corner
Now you know why you might want to finance a car, you’re probably wondering how to get started on securing finance. That’s where Magnitude comes in: with access to a panel of more than 20 lenders, we can help you to secure one of a range of finance options. Don’t worry if you’ve never financed a car before, as we’ll work closely with you to find a finance package that meets your requirements.
When you want to finance a car, Magnitude should be your go-to. We put the customer at the centre of everything we do. We have almost 30 years of experience matching people to the best finance plan for their dream car, and make a point of getting to know you in order to understand exactly what you need from car finance. Our dedicated team are on hand to offer advice and support throughout, so it shouldn’t be long before you’re driving away in your new car.
We know that when you’re thinking about buying a Porsche, it’s about more than just getting a new car. It’s about your enthusiasm and passion for the brand, the way a Porsche fits your lifestyle, and the unique feeling of getting the keys to the perfect car for you. When you choose to finance a luxury car with Magnitude, you’re bringing yourself one step closer to that moment.
To find out more about what Magnitude can do for you, skip ahead to our finance section.
Which Porsche models are currently on the market?
There are a range of Porsches on the market right now, which could leave you wondering which one is right for you. It all depends on what you’re looking for in a car, which is why, in this section, we’ll provide overviews of 4 Porsches that are available at the moment, summarising their features to help you make a decision.
If you like the sound of any of these cars, get in touch with us here at Magnitude so we can start discussing your finance options.
If none of the cars listed here are exactly what you’re looking for, there are plenty of other Porsches available. Or, if you want to go for something completely different, Magnitude offers finance for a wide range of supercars.
718 Cayman S
The 718 Cayman S is certain to appeal to Porsche enthusiasts. It’s fitted with 19” wheels, and you can choose from a range of Porsche tyres – Summer, Winter, Sport and All Season – so you can drive with confidence at any time of year. The sleek exterior design means you can drive in style, and the interior only adds to the experience. With 2 luggage trunks, storage will never be a concern, and, as with many models, you’ll have the option of Porsche Entry and Drive, which allows you to leave your key in your pocket while your car checks its code before unlocking either the door or the luggage compartment.
The lightweight Sports steering wheel depicts the Porsche crest at its centre and includes two alloyed gearshift paddles – useful for short shift throws. Plus, you can drive in comfort in one of a range of Sports seats, including the fully electric options, which allow you to adjust the height and angles of the seat.
Every 718 model comes with Bi-Xenon main headlights, designed for use during the day. This model also features the Porsche Dynamic Light System, which reacts to turns and bends ahead to illuminate any type of road.
This car also features a number of assistance systems, so the vehicle can take care of the little things and let you focus on the driving experience. These include automatic distance control, which uses radar sensors to work out your distance from the vehicle ahead of you and regulate your speed accordingly. Radar technology is also used for the Lane Change Assist function, which warns you about any vehicles in your blind spot.
Capable of accelerating from 0-100 km in 4.6 seconds, and with a 2.5 litre turbocharged horizontally opposed engine, the 718 Cayman S is perfect for drivers for whom speed is a priority. Plus, the 6-speed manual transmission, available in all 718 models, allows for short shift times. Alternatively, you could opt for the 7-speed Porsche Doppelkupplung (PDK), which lets you change gears quickly, simulating the effect of a race car.
911 GT3 RS
If you’re in the market for a new model, consider the recently-released 911 GT3 RS. It’s perfect for drivers who value speed, as it can accelerate from 0-100 km in 3.2 seconds, and can reach speeds of 296 km/h. The 4-litre, 386 kW (525 PS) engine is high revving, which adds to the sports car driving experience.
The 911 GT3 RS is designed with aerodynamics in mind. The model incorporates aerobars, which create a reduction in flow rate and turbulence, thereby boosting downforce by up to 40 kg. In place of the usual front luggage compartment is a centre radiator to increase brake cooling, further improving aerodynamics.
Despite its size, this car is lightweight, just 1,450 kg, and carbon fibre reinforced plastic is used throughout. The wheels are light, too, as they’re primarily made of aluminium and magnesium.
Noise-insulating glazing covers the windows, further improving the driving experience by reducing sounds from outside such as wind.
There are several chassis control systems to further enhance the car. This includes Porsche Active Suspension Management, with damping control systems that can be electronically adjusted and that react to your driving style and the conditions of the road by continuing to adjust each wheel’s damping force. There’s also an automatic control system, Porsche Stability Management, which helps to maintain stability while the car is in motion but can be switched off in two quick stages.
This model features a powerful brake system, which is useful in a car built for speed. The front wheels have 6-piston aluminium brake callipers, while the rear wheels have 4-piston brake callipers of the same material. The brakes have a high degree of fade resistance, which improves safety when braking at high speeds.
Panamera 4 Sport Turismo
Another excellent choice for sports car fans, the Panamera 4 Sport Turismo has an acceleration of 0-100 km in 5.3 seconds, and a top speed of 263 km/h. The engine has a capacity of 1,384 litres, a notably large capacity for a sports car.
As well as the driver, the car has room for up to 4 passengers, so 5 people can enjoy the experience of a sports car at once – although it should be noted that the fifth seat is not a full seat, and Porsche suggests it might also be used as storage space.
With the Panamera 4 Sport Turismo, you’ll have the choice of tires, usually 20” or 21”. Also available is the Porsche InnoDrive system, which offers adaptive cruise control and adds to the safety and efficiency of your driving experience. On the subject of safety, the Head-Up Display puts all the information you need right in front of you, and the Lane Change Assist makes you aware of anything in your blind spot.
As you’d expect with a sports car, the Panamera 4 Sports Turismo is made for performance. You’ll have the option to include rear-angle steering, which increases the car’s agility by steering the front and rear wheels in opposite directions when driving at slower speeds. Then there are the brakes, which offer a noticeably short braking distance, with enclosed single-piece brake callipers that are lightweight and have a high degree of resistance to deformation.
This model also features Sport Response, with a button at the centre of the Drive Mode switch that, when pressed, prompts the engine to release power as fast as possible – which is helpful when overtaking.
The Macan is another model that’s available brand new, easily recognisable as a Porsche by its sloping roof line. Porsche Active Suspension Management lowers the chassis by 15 mm, resulting in sharper dynamics when driving. Dynamics are further improved by the 20” Macan S wheels.
The LED headlights are backed up by the Porsche Dynamic Light System, so you’ll be able to see the road ahead of you even when going around corners and bends in the road. Inside the car, there are electric sports seats in the front, with Porsche crests on the headrests.
If luggage space is important to you, the rear bench seats are split-folding, which means the luggage compartment volume expands to up to 1,503 litres. You also have the option of extra storage in the form of roof rails, so this may be the perfect car for you if you’re someone who likes to travel while still enjoying the experience of a luxury car. There’s even a bike carrier, with room for up to 2 bikes.
The car’s systems include adaptive cruise control, which helps to regulate your speed in relation to the vehicle ahead of you. You can also include Surround View, which helps you to park, with 4 cameras to help you see all around the car.
It’s not as fast as some of the other models, but still has good acceleration, from 0-100 km in 6.2 seconds and top speeds of 232 km/h.
This car is available in a variety of colours, so its appearance can be adapted to your preferences.
Buying a Porsche: What’s the best model right now?
The best Porsche model really depends on what you’re looking for in a car, with requirements varying between individuals.
No matter which Porsche you choose, Magnitude is here to help you finance it. If you think you’ve found the perfect car, get in touch with us and we’ll work with you to identify the right finance package for you, so it won’t be long before you’re in the driver’s seat of your new Porsche.
Prices vary between different models, which is something we’ll explore in more detail in the next section.
Let’s explore some of the Porsches currently on the market and find out what kind of driver each model is suited to:
Best Porsche for speed
As you might expect, Porsche’s sports models are the best for speed. As previously mentioned, the 718 Cayman S is perfect for drivers whose main requirement is speed. Capable of accelerating from 0-100 km in just 4.6 seconds, it’s clearly designed for performance, with optional features available to enhance it. You can choose between 6-speed manual transmission, which offers short shift times, or the Porsche DoppelKupplung, which lets you move quickly between 7 speeds and, according to Porsche, simulates the experience of driving a race car.
There’s also the 911 GT3 RS, which can accelerate from 0-100 km in as little as 3.2 seconds and has a top speed of 296 km/h. It’s powerful, too: 386 kW, to be exact.
If speed is a priority and you’re interested in a hybrid car, take a look at the Panamera 4 E-Hybrid Sport Turismo Platinum Edition. Not only does it have a top speed of 280 km/h, but it can accelerate from 0-100 km in only 4.4 seconds.
Best Porsche for collecting
If you’re a collector, the best cars for you are the older and rarer models. Many of the Porsche 911s, for example, are popular with collectors, so if you’re thinking of buying a Porsche for a collection, these models are definitely worth exploring. Whether it’s an older model or a more recent release, the 911 is considered highly collectable. Buying a new 911, such as the GT3 RS, is, therefore, a good investment.
One of the most sought-after Porsches among collectors is the Porsche 365, one of the company’s first cars. While the Porsche 64 was the first car created by Porsche, the 365 was the first one they sold, giving it significance for collectors. Although many were produced, their status as collectables means that they’re hard to find and tend to come with high price tags.
Best Porsche for regular, everyday driving
For some people, the full luxury car experience means being able to drive when you want and as much as you want. If this is what you have in mind when thinking about buying a Porsche, here are some of the best models for frequent driving.
The Macan is a favourite among people who like to drive their Porsche regularly, thanks to its comfortable seats and spacious interior. The Cayenne is popular for similar reasons, so if your goal in buying a Porsche is to simply enjoy driving it, these models are worth looking into.
Thinking of buying a Porsche? Here’s what you should know
With decades of history, Porsche has more than proven itself in the luxury and sports car market. When you’re thinking about buying a Porsche, however, certain questions spring to mind – how much will it cost? How do you know your car will be reliable? In this section, we’ll explore these questions and hopefully get you ready to buy your new car!
When you think of the brand Porsche, budget-friendly is likely not the first word that springs to mind. That said, of their available range, these are the models you can get for the best price (all relatively speaking, of course!)
The 718 Boxster starts at £49,700, a relatively low price for a new Porsche. But there are other Boxsters available, which are equally as cost effective, such as the Boxster T, starting from £57,200, the Boxster S from £59,700 and the Boxster GTS 4.0, which starts at £70,700.
Many Porsche fans enjoy driving Cayman models, with some, such as the 718 Cayman, found at the lower end of the price range. This car starts at £47,700, but does not hold back on its speed and acceleration.
If you plan to enjoy frequent drives in your new Porsche, you might look into the Macan models, prices for which start at £50,800. Next up is the Macan T, from £55,800, the Macan S from £56,800 and the Macan GTS from £68,800.
For their mid-range models, there are many popular picks – especially their hybrid range. With the global rise in ‘going green’, the E-Hybrid puts Porsche squarely in the market.
Panamera models tend to be somewhere in the middle of the price range, starting at £72,900. However, there is some variation between models, with the Panamera 4 Sport Turismo starting from £78,100. The Panamera 4 Platinum Edition starts from £86,000, the Panamera 4S from £96,000 and the 4S Sport Turismo from £96,000.
If you’re in the market for a hybrid car, there are several to choose from, including the Panamera 4 E-Hybrid from £86,700, the 4 E-Hybrid Platinum Edition from £95,300 and the 4 E-Hybrid Sport Turismo from £88,900.
There are several Taycan models available, so the price will depend on which one appeals to you. The Sports Saloon starts from £75,500, the Sport Turismo will cost you at least £76,500, and the Taycan 4 Cross Turismo is the most expensive of the lot, with prices starting from £85,500.
911 prices for collectors
The 911 cars are popular with collectors, so it’s worth finding out what different models cost if you’re planning to start a collection or add to one. Though these models are undoubtedly more expensive, they will retain their value as collector’s items, too.
Examples include (as new):
- 911 Carrera starts from £89,800
- 911 Carrera Cabriolet starts from £99,800
- 911 Targa 4 starts from £105,800
- 911 GT3 starts from £135,700
- 911 Turbo starts from £147,400
- 911 Turbo Cabriolet starts from £157,400
- 911 GT3 RS starts from £178,500
- 911 Sport Classic starts from £214,000
So, how much does a Porsche cost?
The best way to work out how much your car might cost is to think about what you’re looking for in a Porsche and focus your research on cars that meet these requirements rather than the price tag attached to them.
If you want a Porsche primarily for speed, for example, the 718 Cayman S might take your interest. It costs around £47,700, making it one of the more budget-friendly models.
Or, if you’re looking specifically for something with a classic sports car design that retains its value as a collector’s item, the 911 Sport Classic might be the one for you; it costs about £214,000.
Remember that the cost of any Porsche will increase with every optional feature you add, so the prices listed here are only a guide – this is what they’ll cost without anything extra included.
Wherever your dream car falls on the price spectrum, get in touch with Magnitude so that we can match you to the right finance package for it.
Which Porsche is most reliable?
Porsche is a reliable brand in general, trusted by many, but some models stand out from the crowd: as of 2014, the Cayman and Boxster models are considered to be among the most reliable cars available.
Is buying a new Porsche a good investment?
The question here isn’t so much whether buying a new Porsche is a good investment, but what makes it so? While there’s no denying that investing in a luxury car is a long game, if you are patient, the investment will eventually pay off.
Most Porsches tend to have a high resale value – higher than many other brands, in fact, because they lose value at a slower rate.
If you’re buying a Porsche specifically as an investment opportunity, you might want to look out for classic and limited-edition cars. Early Porsches such as the 365 tend to sell for high prices, but they are difficult to find. So if you’re investing for the first time, it’s better to stick with newer models whose value is likely to increase over time. As we talked about in the ‘What’s the best Porsche model right now?’ section, the 911 models tend to be popular with collectors.
For this reason, it’s a good idea to explore the 911s that are currently on the market. These include the 911 GT3 RS, which was only recently released, so you can buy it now and wait for the investment to come to fruition. There’s also the 911 Sports Classic, another recent model, as well as many other cars of this type, such as the 911 Carrera, the 911 Turbo and the 911 Targa 4.
Then there is the 911 50 Years Porsche Design, which was developed to celebrate the 911’s anniversary and has a limited production run, with only 750 units produced. Because it’s a limited edition, it’s likely to become a sought-after model in a few years.
Whichever Porsche you choose to invest in, remember to get in touch with Magnitude so we can help you find a finance package that will let you own the car at the end of the finance term. We’ll cover this in greater depth in our next section.
Porsche finance products tailored for you
Magnitude offers a range of finance products to bring you one step closer to getting behind the wheel of your new Porsche, and we’ll work with you to identify a package that suits you. Let’s take an in-depth look at the types of finance we provide:
Hire Purchase Finance
Hire Purchase Finance allows you to pay for a car over a fixed period, typically from 2 to 5 years. When you choose Hire Purchase Finance with Magnitude, you’ll start by putting down a deposit between 10% and 40% of the car’s purchase price – remember, the more you pay upfront, the less you’ll have to pay later. You won’t own the car until the final repayment is made, and you will have to pay interest on the loan.
Because the repayment amounts are fixed at the start of the agreement term, you’ll never have to worry about them changing, so you’ll have a good idea of your outgoings each month.
Hire Purchase with Balloon
If you like the sound of Hire Purchase Finance, you may be interested to know that there is a way to reduce your monthly repayments. If you choose the Hire Purchase With Balloon package, you’ll make a larger payment – a ‘balloon’ – at the end of the finance term, so the payments you make throughout the term will be lowered. Once again, you’ll have to wait until the final payment is made to officially own the car.
If you decide Hire Purchase With Balloon is right for you, you’ll pay a deposit between 10% and 30% of the purchase price. The repayment period will then usually be between 36 and 48 months.
If you’re struggling to choose between Hire Purchase and Hire Purchase With Balloon, get in touch with us. Our team is on hand to help you work out which finance option is best suited to your specific requirements.
Balanced Payments could be a great option for someone with previous borrowing experience to finance a new Porsche.
There are a number of benefits to this finance package. For example, it’s VAT-free, and the initial deposit is relatively low. You’ll then make fixed payments each month, so you’ll be able to factor this into your budget knowing you’ll pay the same amount every time.
A major difference between Hire Purchase Finance and Balanced Payments is that with Balanced Payments, you’ll be subject to national interest rates (as opposed to fixed rates). This could result in the amount of interest you pay changing throughout the finance term. For this reason, we suggest that Balanced Payments are better suited to those who have borrowed before and understand the risks. Otherwise, it’s a good idea to look at our other finance packages, including Personal Contract Purchase, which we’ll look at next.
Personal Contract Purchase
If you’re interested in a flexible repayment plan, the Personal Contract Purchase (PCP) finance package is definitely worth considering. It’s one of our most popular finance options, with deposits generally ranging from 10% to 30%.
With PCP, you can choose to return your car at the end of the finance term. If you’re someone who takes pride in always driving the latest model of Porsche, this could make it the perfect finance package for you. As long as the car is in good condition, you’ll have nothing more to pay upon its return. Or, if you’d like to own the car, you can pay off its Guaranteed Minimum Value at the end of the agreement. Either way, you don’t have to make a decision until the repayment period finishes – the great thing about PCP is its flexibility.
Buying a Porsche? Your questions answered
By this point, you may be ready to get started on buying a Porsche – or you might still have some questions. Let’s take a look at some of the things people frequently want to know about Porsches:
How well do Porsches hold their value?
Whether you’re an avid Porsche collector or buying one for the first time, you’re likely to wonder how well they hold their value – after all, you want to be sure you’re making a good investment.
It’s true that all cars begin to lose value the moment you get behind the wheel and drive away, a process known as depreciation. The good news is that Porsches hold their value well, and in fact hold it longer than other car brands. They have a slower than average depreciation rate, meaning they retain a high resale value. The models with the slowest depreciation rates include the 911, the 718 and the Macan.
What’s the best way to buy a Porsche?
The best way to buy a Porsche is through financing, and Magnitude is here to help. We’ve been matching customers to one of our range of flexible finance plans for nearly 30 years and, with a panel of more than 20 lenders at our fingertips, we’ll find the right lender to finance your new Porsche.
A key benefit of financing a car through us is that we centre the process of securing finance around you. We believe that the best way to identify the right finance package for you is to get to know you, so our team will talk to you by phone, email or in-person to work out what you need from a finance plan.
As we discussed in this guide’s finance section, there are several plans on offer: Hire Purchase Finance, Hire Purchase With Balloon, Personal Contract Purchase and Balanced Payments. You may have one in mind already, but if not, get in touch with us and we’ll talk you through your options.
You don’t just have to take our word for it about the benefits of financing a car with Magnitude. You can read testimonials from people we’ve helped in the past and learn more about how we make car finance a simple, stress-free process.
Financing a Porsche with Magnitude
Here at Magnitude, we offer a range of flexible finance plans. With almost thirty years of expertise, we’re committed to helping you secure finance, bringing you one step closer to getting behind the wheel of a Porsche.
Our dedicated team will work with you to find out exactly what you’re looking for in a car. We offer phone calls, emails and even face-to-face meetings in order to understand your requirements – it’s your finance journey, so we put you at the centre.
We’ll identify the right finance package for you and match you to someone from our established panel of more than 20 lenders, so you know you’re getting the best deal. We also provide an online finance calculator to help you get a better idea of what you’re looking for.
We aim to make securing finance for luxury cars a straightforward process, so you can look forward to getting the keys to your Porsche without having to worry about whether you’re getting a good deal. Now that you know why Magnitude is your go-to for luxury car finance, there’s no need to wait. Get in touch with us today to find out how we can make your dream car a reality.