This is hot for Porsche because their rates usually run very high in the 6+% territory. Some dealers may even let you do 1.9% APR as well on the leftover MY2008 on the lot for substantial savings (google "Porsche 1.9% APR").
"1.9% APR applies to new Model Year 2009 Porsche models except for the 911 GT2. 1.9% APR available for up to 60 month financing, monthly payment of $17.48 per $1,000 financed for 60 months. Payment terms not to exceed 60 months on Approved Credit by Porsche Financial Services, Inc. Does not apply to Porsche Options (balloon) financing. Offer valid through 09/30/09 from participating U.S. Porsche dealers. Specific vehicles and options are subject to availability and your price may vary. For details about costs and terms call 1-800-Porsche. For additional information see your participating Porsche dealer or visit www.porscheusa.com."
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mg42 said:Will the $4500 federal trade in work on these cars?
No, I think there is a cap of 45000 on the price of the vehicle you are purchasing. I doubt any Porsche gets enough gas mileage to qualify for the 4500 credit either.
And no you can't trade in a Cayenne! Duh. The car has to be built before 1999 I think.
mister2cool said:chino49 said:Wish I had the money. Actually, wish I had a job that paid enough to afford a Porsche. BTW, Porsche is about to be bought out by VW.
Porsche already owns VW. It was the scandle of the year in 08 how Porsche was able to take over VW.
Right, which nearly bankrupted Porsche since they borrowed all of the money, and now VW is going to buy them up since they're under distress with this loan.
jbserra said:mister2cool said:chino49 said:Wish I had the money. Actually, wish I had a job that paid enough to afford a Porsche. BTW, Porsche is about to be bought out by VW.
Porsche already owns VW. It was the scandle of the year in 08 how Porsche was able to take over VW.
Right, which nearly bankrupted Porsche since they borrowed all of the money, and now VW is going to buy them up since they're under distress with this loan.
There are some tax issues at the center of this deal that may prevent it from happening at all. From a WSJ article:
"The potential tax liability arises from the creation of Porsche's holding company several years ago as part of the aborted takeover. Tax rules may prevent Porsche from spinning off its auto division for a period of time without incurring a hefty tax bill."
They've closed entire dealerships in many parts of the country, including a possible closure of one of their dealers in Ventura County, California, which used to be the biggest selling dealer in the country, because of all the mortgage companies that used to be there.
JesseLivermore said:Porsche lost 4.3 billion USD this past quarter.
They've closed entire dealerships in many parts of the country, including a possible closure of one of their dealers in Ventura County, California, which used to be the biggest selling dealer in the country, because of all the mortgage companies that used to be there.
Sign of the times.
Well, this news should result in an influx of used Porsches on the market. Now THERE's the fatwallet deal!!
osmanu said:mg42 said:Will the $4500 federal trade in work on these cars?
No, I think there is a cap of 45000 on the price of the vehicle you are purchasing. I doubt any Porsche gets enough gas mileage to qualify for the 4500 credit either.
And no you can't trade in a Cayenne! Duh. The car has to be built before 1999 I think.
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. I wish i had that much money
