Pawn Your Porsche classic car
Contact Us
020 7493 0385
Are you thinking of taking a loan on your Porsche classic car?
We’re often asked by customers “Is it possible to pawn my Porsche classic car?” and the simple answer is yes. If you’re the proud owner of a Porsche classic car and you need to unlock some of the money tied up in it, contact New Bond Street Pawnbrokers today. We have over 30 years of experience in lending against all manner of high-class property, including vintage and antique Porsche cars, Rolls-Royce, Aston Martin, Bentley, and other valuable classic cars. We provide professional and discrete loans against most Porsche classic vehicles, and we’d love for you to drop in and pay us a visit at our award-winning pawn shop in Mayfair, London.
The driver’s car
Ferdinand Porsche began his company in 1931, and many people don’t know the company’s first car didn’t even actually bear their name – though it’s one you’ll have no doubt heard of. The German Government commissioned Porsche to build their “Volkswagen”, or people’s car, and that would become the ever-famous Beetle.
On the back of that success, however, Porsche was able to design and develop their own cars, which have all become highly popular for their brilliant driving dynamics. There is of course the highly popular 911, their early 356 coupe and Spyder, and what many consider to be the last true analogue supercar, the Carrera GT.
Air-cooled models are particularly buoyant, value-wise, at the moment, making financing your Porsche classic car highly popular at pawnshops.
Valuation of your Porsche
We’re professionals and so specialising in making the process of borrowing funds against classic Porsche cars as simple and straightforward as possible. It begins with you making contact, giving us a brief overview of your Porsche car and an idea of what you’re hoping to get in terms of a loan.
We’ll then make an appointment with you at our Mayfair, Central London pawn shop, to which you can either drive your classic Porsche or we can assist you with transportation if need be. Then we’ll appraise your Porsche vehicle to determine its value and the loan we would be willing to offer you. This process takes into account a number of factors – mileage, condition, provenance, current market value, to name just a few.
The high-end reputation of Porsche as a classic car brand means that the value of a Porsche car tends to deviate from the norm for your standard vehicle. While certain models can depreciate in value over time, Porsche is the home of a catalogue of many timeless models that gain value and prestige as the years go by. Providing the condition of your Porsche car meets the exacting standard, and your car has not been serviced or repaired with the use of third-party parts, your used Porsche car could secure you a loan within the realms of six figures, depending on the model.
Used Porsche cars that have not yet entered the classic canon are valued differently, due to the varying nature of the market, but are still attractive propositions to many pawnbrokers. As the supply of used Porsche cars tends to be higher than the supply of classic models, depreciation can accelerate between the car age of 5-10 years. Before pawning your Porsche vehicle, you must ascertain as part of your agreement that your total loan will not be adjusted for inflation, interest, changes in market value or other outliers.
If you have an outstanding agreement with a dealership or bank regarding car loans, finance payments, or if you have an alternative arrangement in terms of owning your car, there may be barriers to being able to take a loan on your Porsche car. Other types of legal documentation that can be accepted include those relating to wills, probates or inheritance of any kind, which is more common when securing a loan for classic cars.
Once we have determined our offer, we’ll present to you a contract which you’re free to accept or decline. Should you accept, you’ll get every penny of the finance we offered you against your Porsche, there are no hidden costs or secret charges to worry about. We’ll then store your car at our discrete and highly secure storage facility.
Ho do you appraise my Porsche (an example of a Porsche 718 Cayman)
Highest valuations are likely to be reserved for the GT variants, particularly the 2020 model. To maximise the value of your 718 Cayman, our pawnbrokers will be looking for minimal to no damage, particular for models over 3 years old. Models manufactured in 2017 or before will have also exceeded their warranty plan, which also greatly impacts value at pawn shops.
Mileage is also a large factor, with drops in valuations starting from 25km, and seeing further increase once reaching the realms of 50-60km. This can be balanced against if certain components show less wear and tear as expected for a car of said mileage, such as clutches, air conditioners and condensers.
Pawnbrokers will be trained to identify warning signs that mileage has been deauthenticated. This can usually be ascertained by the quality of the disc brakes, condition of rims and also the depth of tire tread. New disc brakes present on a 718 Cayman that has a 10km mileage or under are commonly rejected. In terms of the value of loan to expect, the variances will go by engine size and date of manufacture. 2016 and 2017 2.0l models are valued at the average price of £30,000. Later models of the same engine size have a higher value, with the best condition models valued in excess of £50,000.
Any models that are as close to the present day in release date can be valued near to sale price, which varies between £60,000 – £81,000. The highest value model on the market, the 2019 4.0l 718 Cayman GT, is frequently valued over 6 figures, with the average valuation coming to £109,000. All of these figures are set averages within the industry and can vary depending on the condition of your car. If you feel your Porsche 718 Cayman can meet standards close to those described above, you can safely assume that you can borrow within the established financing prices.
HOW MUCH CAN YOU Finance A PORSCHE FOR?
A standard used Porsche car still available on the market can fetch an average sale price of £95,000, with the highest value sale of a standard used Porsche being within the region of £160,000. The highest value models of Porsche cars are currently Porsche 911 Cabriolets, usually in silver and black colourways.
In terms of standard used Porsche cars, the more recently your date of manufacture, the higher the loan you will secure. This trend can deviate depending on the type of model, for example the 2010 edition of the Porsche 911 (the 997) can be valued at over £100,000 depending on condition and specialist design features.
The amount of money you can pawn your Porsche car for is further complicated if you are dealing with a classic model. Getting exact valuations of classic models is extremely difficult, due to the staggering amount of model variations over the decades, as well as unique vehicle properties that can only be identified by experts.
In accordance with market trends, the highest lending value on Porsche classic cars usually goes to historic variants of the Porsche 911 and the Porsche 356 Coupe. Being the first developed car within Porsche’s history, the Porsche 356 Coupe is often considered an antique in the entire automotive history. Those lucky enough to be in possession of a 356 Coupe can easily sell for an excess of £500,000, especially for models as close to the launch date of 1963 as possible. The ultra-rare proto-models from the 1950s, including the 356 Cabriolet, have been known to have valuations around £700,000.
The Porsche 911 remains the brand’s flagship model, with many rare variants being part of its history. As such, certain variants of the Porsche 911 catalogue are highly sought after at pawn stores and can fetch in excess of £1,000,000, especially if the model was attached to a specific event or cultural moment. Other notable models from early in Porsche history include the 904 and 912 of the 1960s, which can get equally high valuations as their 911 sister models within certain markets.
Lending on classic Porsche cars, centered around you
The payment terms of our loan on Porsche classic cars is flexible depending on your circumstances. If you want to pay it off sooner rather than later, you can. Your exquisite classic vehicle will stay with us, securely stored, until the balance of the loan is paid. At which point it will be released to you again to cover many more happy miles.
For experienced and discrete pawning on classic Porsche cars, whether classic, vintage or antique, contact New Bond Street Pawnbrokers today either by calling or by visiting our London Mayfair shop.
If you are looking to pawn your classic car, at New Bond Street Pawnbrokers we offer loans against vehicles like Aston Martin, Bugatti, Ferrari, Jaguar, Mercedes and Porsche.
To get started, fill out the contact form on this page or call us on 020 7493 0385
*We are authorised and regulated by the Financial Conduct Authority
CAN YOU SELL YOUR PORSCHE AT A PAWN SHOP?
While a perfectly understandable question, a final sale on a Porsche is not commonly made within the world of pawnbroking, in comparison to a dealership or collector. The function of pawnbroking is to give Porsche owners of high-value property the opportunity to borrow against their items, to liquify their assets without formally selling. As such, at New Bond Street Pawnbrokers we focus exclusively on lending against assets, including classic cars like Porsche. If you are hesitant to secure a loan, as opposed to fully trading your vehicle for cash, collateral lenders usually provide full assurance of your possession before you procure your loan, by explaining their storage process and mandated requirements for payment. This is a standard practice for all high-value items that are frequently financed, such as jewellery or rare antiques, and this practice is the same for Porsche cars. Porsche as a luxury car brand have models within their portfolio that can command high value within the automotive industry, especially classic models in good to mint condition. Of course, selling is sometimes offered as an option by pawnbrokers, however the cash offered is usually lower than the borrowing you can take against your Porsche, making it a less attractive option. Pawnbrokers conduct their business not only on your ability to pay the loan back, but also the changing value of items over time. Due to the depreciating nature of vehicle value in general, as well as the appreciating value of classic vehicles depending on their rarity, pawnbrokers prefer to keep vehicles like Porsche as collateral rather than possesion, to reduce the risk of making a loss. The ultimate benefit of pawning is the knowledge that you can get your Porsche car back once you have fully paid back your loan. If you have an emotional attachment to your prized possessions, but would like access to liquid money, collateral lending gives you the outlet without needing to sell.
