Well, it was a secret. Read on.
Porsche is one of the few automakers that doesn't have much need to offer sales incentives. The cars sell themselves because they're that good. There's never been a lack of customer demand, until now that is. Blame the coronavirus pandemic for the slowdown of automotive sales for every brand, including Porsche. To help counter this, Porsche has issued its North American dealerships a new sales bulletin that was originally meant to be kept a secret.
Fortunately, Cars Direct was alerted to its existence and the details have now been exposed. Here's what happening and how you can potentially benefit. Porsche quietly initiated a 1.95 percent APR loan deal which began in the middle of last month and remains valid through June 1. It is available when financing nearly any new or certified pre-owned Porsche for up to 60 months (five years).
And yes, this is one of the best deals Porsche has launched in recent times and chances are it won't get much better than this, at least until the current offer expires.
However, there are a few new model exceptions here. The Porsche Taycan, Porsche 718 Cayman and 718 Boxster are all excluded. The Taycan's exclusion is not surprising because it's still literally a brand new model that only hit dealerships in recent months. Why not the 718 twins? No reason was given but a decent guess is because they already sell in relatively low volumes the first place there's little to no reason to incentivize them.
However, certified pre-owned 718s are included. For those aiming to get a new Porsche 911, say its price amounts to $100,000 and with a five-year loan at the new rate, it comes to a little over $5,000 in interest before taxes and fees. Compare this to the typical 5 percent APR loan which would amount to over $13,200 in interest paid.
Another important factor to point out here is this offer is aimed directly at customers who prefer to buy rather than lease. The previously announced 90-day deferred payment offer and global warranty extension remain in effect. The bottom line here is that now is a very good time to buy a new or certified pre-owned Porsche.
Those who prefer to lease, at least for the time being, don't have any special offers though that could easily change given today's circumstances.