Thanks guys, espec. JK --

this is very instructive. i have alwasy bought all my cars since i don't keep them very long.. but my wife has her heart set on her M Quattroporte which arrives in Oct... i intend to lease this car because:

- easier to lemon if it has problems, just throw them the keys
- expect major depreciation
- in CA, you pay sales tax by the month if you lease.. so you avoid most of it when you sell after only 9-12 months

anyone think buying her Quattroporte is GOOD idea?

 

Watt:

The Q is cool. Saw it in person a few weeks ago. Don't forget, there are some tax incentives to leasing depending on the type of work you do...nice write off...

If you expect very high depreciation on the car, then leasing may not be the best option. Your monthly payments are equal to the depreciated value of the car plus interest and tax. The higher the depreciation rate, the steeper the payments. Some cars just plummet after 36 months...

T

 

how much would it cost me for a 2002 996 TT stock with low miles, if i plan on putting $8000 down

 

You are probably looking in the 1300 to 2000 dollar range!It also depends on other factors, your best bet is to check into it at a dealer!

 

yep, the sales tax screw in CA (ie: no sales tax credit on trade in) is a good reason to lease p cars. another is porsche's horrendous depreciation of late. as well, it's nice not eating diminished value should the car need accident repair. also, lease money is about 4% right now and that's if you "can't" write it off (closer to 2% for those with state tax on top of fed if it can be written off). surely we can all do better than that with our money. lastly, there is always the tails i win, heads they lose with regard to the potential upside should resale be higher than residual such that you can just flip it.

 

JK996tt,

Can you tell me which bank that you got the MF from?



If you put down multiple security deposits, then you can reduce MF further. You will get the money back at the end of lease (no matter if you terminate the lease early or not.) You'll end up saving interest payment for whole amount ( MSRP-residual) plus you get your money back. It is definately worth doing.

 

Watt the Auto Gallery in Woodland Hills has the Quattroporte on location (last I Checked) I test drove it and the car was amazing.

 

Yes, it was Huntington. Also, different geographic areas have different banks and therefore different deals. For anyone interested I have an Excel spreadsheet that accurately calculates lease payments provided you have MSRP, selling price, money factor or intereste rate, and of course lease term. It is geared for Florida's (my county) tax rate.

 

Hey, can you email me this spreadsheet to donteventryme@aol.com.

Thanks!

 

Another altnerative is this. I purchased a 993 TT a couple of months ago and got 72 at 4.6 interest with zero down. Sent the 993 TT back due to paint damage and some other issues, but that is a whole other story . . . I bet you could get 84 months at around 5.5 on a 996 TT if your credit was good and your note may end up around the same as a lease payment depending if you bought new or not.

 

i was lucky enough to have good timing-in jan of 03, i leased a brand new 03tt for $1400/month, taxes included (0 down, 0 deposit, 39 months, 12k miles/yr). the msrp was about 121k. and the dealer had another tt on the lot, that a friend leased, for the same price. there were tons of unsold tt's around then, much different than now.

 

Did you got the deal from Chase or US Bank?

 

chase-my residual was about 79k.

 

The good 'ole days...

My last lease ('02 996TT) was through Fifth Third Bank. My deal was similar, although my residual was a little lower in March of '02. I'm assuming your lease was > 36 months though.

 

Retract the last part about >36 months...I'm still asleep. That high of a reisdual is NO MORE than 36 and maybe less.