Sime Darby Auto Performance (SDAP), official importer and distributor of Porsche in Malaysia, has revealed a new financing program for easier ownership. Called the Porsche 360 Financing program, it is a flexible financing program to mainly entice those new to the brand to step onto Planet Porsche.
This financing program can be personalized to your requirements and is an alternative to conventional financing by promising lower monthly payments and flexible payment terms for better cash flow management. The financing tenure is between 3 to 5 years but from the 3rd year on, you have the option to trade in for a new Porsche, refinance or sell it back to SDAP.
“The Porsche 360 Financing programme is another initiative in our continuous effort to offer customers a more unique and even more flexible ownership experience,” said Arnt Bayer, Chief Executive Officer of Sime Darby Auto Performance. “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,” he continued.
“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 5 years and only pay around RM 6,000 in their monthly installments,” he added.
The Porsche 360 Financing not only allows for savings of up to 30% due to the lower monthly payments compared to conventional loans, you will also have the chance to own a new Porsche every 3 – 5 years by trading in and/or trading up as this program also gives you an assured resale value to lessen your worries. Similar to conventional loans, the margin of financing is up to 90%.
Using the example of a Porsche Macan, which is priced at approximately RM 500,000 (with options etc), with a 90% financing margin (i.e. loan amount = RM450,000) for 5 years, the monthly installment works out to RM 6,000; with an assured resale value of RM 204,000 in the 5th year. The estimated surplus from this financing program for this hypothetical example works out to RM 56,175, which you can transfer to your next Porsche.
At the end of the financing term, you can either:
- Trade in your Porsche at any Authorised Porsche Pre-Owned Centre at the assured resale value. The program is structured in such a way that the remaining loan amount is generally lower than the assured resale value of the vehicle. Consequently, you would then receive a balance payment that could go towards the downpayment for a new Porsche, making it a fuss-free transition.
- You can, from the 3rd year onwards, extend the financing program for your vehicle OR terminate the financing arrangement by settling the outstanding loan amount in full and take ownership of the vehicle.
- You can also decide to return your Porsche without any additional commitments (except for any potential excess mileage charges and the vehicle being subject to fair wear and tear).
As for the assured resale value, you need to service and maintain your vehicle, at any of the Authorised Porsche Service Centres; you get a comprehensive 4-year warranty and 4-year complimentary maintenance package (including parts, service and labor) anyway, so why go anywhere else? (additionally, the warranty can be extended up to 9 years) The assured resale value is of course affected by extraordinary wear and tear, damage or abuse, and excessive mileage beyond the agreed allowance. All this will be determined upon assessment.
This financing program however, is not applicable to the ‘GT’ and special limited edition Porsche models.