I'm looking to buy a 996TT, and depending on who I end up buying it from, etc. I may look to finance. I'll write a check if I have to, but I can invest the money and EASILY earn a lot more than the 4-6% it should cost me to finance. So financing is an option.

Thing is, my business wants to buy this Porsche. =)

It's a relatively small, low-profile business that doesn't have a whole lot of contact with the general public. No suppliers, trade references, etc. I will need to guarantee the loan either way, but the only financial institution I have a good relationship with is Bank of America and their auto finance programs suck big time.

Can anyone point me in the right direction? Maybe some other small business owners out there? I considered leasing but I plan on modding the car so that's probably not a good idea. Another idea was to buy the car myself and lease it to my company for the tax benefits, although I'm not sure if that's allowed or not.

Anyway, sorry for the somewhat off-topic post. I just figured some of you guys here might have been in the same position at one point, and might be able to offer some insight. Or maybe ya'll are so mega rich you just pay cash and don't even think twice LOL. I'm not quite there yet ...

 

Anyone?

 

if the business wants to "buy" the porsche, then it will have to be a lease to be total write-off. Just get a 36 or 39 month, take the mods off when done, and you should be fine. Otherwise, you can buy out the note and sell after the lease is up if there is a profit potential there (determined by mkt value at the time, condition, and miles).

I never finance any of our company demos....we turn them over in 4-6 months (on average) so I cant stuck in a lease.

 

Do you know who does commercial leasing on high end cars? As far as I can tell places like leasecompare.com etc. don't lease to companies, only individuals.

 

no idea on that one....

 

Wells Fargo certainly does. And I imagine BofA does as well. However, you will pay a higher rate for a company lease v. a personal lease.

Also, talk w/ your accountant. You may be able to get the car in your name but still treat it as a company vehicle to the extend it is for company use.

 

Limitup - Have the dealer send the information to Porsche
Financial Services they really know how to work with the businessman. Email me at JBrandel@johnholtz.com if you have any questions I will be happy yo point you in the right direction

Regards,
Jamie

 

Thing is I doubt I'll be buying from a Porsche dealer. All the ones around here in the DFW area are asking ridiculous prices.