I went to the Porsche Dealer and was considering getting a 991, either base or S.

The two deals are:

2012 991 C2 - well equipped
92.5 msrp, 6spd, 9k down, $799 a month, 5000k/year, 48 mon.

2013 991 C2s - pretty standard
98.5 msrp, 6spd, 7k down, $1053 a monh, 5000k/year, 48 mon.

The 5000 miles included in the lease is enough for a weekend car, but it would be nice to be able to get to what seems to be the Porsche normal of 7500 a year. Whats your guys thoughts? Should I bring those numbers down a bit, too much downpayment, or should I just put 8k down and finance it at 1.9%?

A bit about myself, I am definitely the kind of person to own all my cars, whether I finance them or buy them on cash. I only became interested in leasing because of the amazing deals I've seen around and used car prices being high. If I were to get this 911, I would probably be out of it in less then 2 years. I love my current Aston Martin, but I just feel I cant use it as much as I would be able to use a 911 (parking, miles, attention). I was thinking the 911 can be my bridge car until im ready to move onto a Ferrari (again back to my lack of usability, oh well though).

 

IMHO, if you're leasing $0 down would be the norm.

 

Depends on your situation. How long do you plan to keep the car for?
Personally, I have never been a fan of leasing as you have no collateral in the car when all is said and done.

Basically, its tantamount to renting a car for 4 years..

 

Agree with dux. Then you've got to worry about how many miles you're putting on it and and paying fines for "excessive wear or damage".

ChuckJ

 

Here we go......another lease vs buy debate.

 

Is this new? Price seems to be low for 991s. $1000 bucks for 991s sounds pretty good. I was checking it out on the official website and it's giving me $1174.32.

Nonetheless, forget about downpayment if you are going to lease. Considering how low the interest rate is, I'd jump on 2013 financed without a second thought. That 2013 has to be the least optioned car I will ever see. Wow.

 

Thats the lease numbers after discount on selling price. Also, downpayment on leasing isnt smart, youre right. I will have to find out what interest they are charging on the depreciation.

1.9 is exceptional, I will have to look into that further.

As far as the car is considered its base only with sunroof. BTW Delaware only has 3.75% sales tax which greatly helps the payments.

 

I think the lease/buy question is answered with how long you own/drive the car. I plan on owning mine at least until the next all new release. Buy is my best option. On the other hand with todays move in the market…opportunity cost just went up!

 

What's wrong with your Aston?? I just picked up a DBS as a DD.
Do you own your own business? Can you write off the lease? If so, then of course lease is the way to go.

 

Buy it. At 1.9% it is almost free money!

 

I won't lease or finance-I hate payments. But if I had to choose I would choose finance. Keep the car in excellent condition and sell it before your next purchase.

 

Good thoughts! But if you live in a state that only charges sales tax on the delta between the value of the new car and the trade-in, you also have to consider the cost of selling that to a private party vs the dealer.

ChuckJ

 

I edited the original post as this is an important question.

Nothing its wrong with my Aston, I just cringe at the vales with high miles. I can't bring it to myself to put 7500 a year on it. If I do, I feel I'm shooting myself in the foot. One I wouldnt enjoy all those miles, and two its not the best highway car. Super loud, and terrible in the rain.

I feel the P Car would be a good weekend car that I can be a little less uptight about. Less attention, easier parking, less "******y" (being 25 doesn't help that case)

And Yes I do own my own businesses, we do write off part of the car's payments as business use.

Many people are in your boat. I'm a very financially active young person (not implying that youre not by anymeans, but I am very interest and ROI sensative). I figure if I can earn 8% on 100k, and pay 1.9% 100k, I'm better off by $6100... Plus I'm looking to grow in my respective field, which takes as much cash as available.

Also, for our cheaper cars, we tpyically pay them off for ease of use: 20-30k doesn't make or break a deal, but 100k can def. help.

I wasn't 100% sure how Delaware does this, but when I sold my M3 and bought my 335i. I got a credit towards the sales tax for the full amount! If it's higher then NADA I believe they will credit only NADA value for the car sold. Non-the-less, Delaware is an attractive state to buy cars, since its only 3.75% sales tax on cars.

 

Buying is a better deal now considering low interest rates.

The However, is that for the extra you pay in interest you have a way out at the end so the risk for any additional depreciation if market conditions goes in the toilet are on them.

I personally write off my cars so the amount I save on taxes compared to buying is too much to not lease. I personally would rather buy it, just my old ways, however I can't ignore the math.

 

The best answer!