New 2008 911 Cab (white/sand)
MSRP $93,500
-$13,500 discount

10,000 miles a year
$8,000 Down
$1,000 a month

(Residual value= 44%)

 

There is no way to justify paying 42K plus tax to rent the car and hand it back with 30K miles . 13K off to purchase the car sounds great.

 

Forgot to mention 60 month lease

 

So you think paying $68k for a $80k car and hand it back in and its a good idea?!

 

Yikes!!!!!

 

FWIW, I bought a new C2S in April and got about $9k off the sticker. Sounds like a good deal to...purchase.

 

that is a horrible deal....if you take a look at porsches current lease factors and residuals, then run it through a calculator, you should be paying $994.57 per month (before taxes) with not a cent out of your pocket.

The current residual on a 36 month lease is about 62% (which gives you a $57,970 residual after 3 years) the lease factor is .0025 (6%)

if you like - pm me and i can send you the calculations - then you can go to the dealer witha more powerful hand.

also - if you own your own business - then lease away and write it off. you can even bump up the lease payments and lower the residual. Sure you have much higher payments - but - you are writing it all off - AND at the end of the lease you can typically sell the car for more than the residual value and pocket the difference tax free!

 

Porsche offers 84mos financing.

 

Yep, this is the way to go. i sell VWs so I know a thing or two about leasing and all that. for a 60 month lease that was a terrible deal

 

Doesn't sound like a good deal to me if you are leasing......

 

I lease most of my cars but never put any money down. Why give Porsche an interest free loan? I do not see the benefit to putting $8K down.

 

Can we really write the whole lease payment off? If I buy the car, can I write off the monthly payment(portion of )as well like it is a lease, ie, the company will just paid for it monthly as if it was a lease payment. I was told leasing is cleaner, but if I sit down an think thru all the numbers, it really does not make any sense.

 

leasing for personal use is typically not a good deal vs. buying.
leasing under your company name (and being able to prove to IRS if needed that this is a 100% company car), is a 100% complete tax writeoff because it is booked to the company as a business expense.
If you lease it under your name and state at tax time it is a "car used for business", you may only get a portion of the cost as a writeoff, or none at all- this is not the right way to do it.

 

you purcahse the car for company business you can write off a portion of it - not all of it. the govt has limits to the write off amount on a purchase - and it is VERY low...ie - you would need to buy a kia to write the whole monthly payment off.

this is the reason that the majority of luxury cars are leased for business use - you can write off 100% of the lease and get the best tax benefit. If you bump up the lease paymnet you can also take a tax free profit.

i agree - never worth it to lease a car for personal use - but- it is also rarely worth it to buy a car for business purposes.

 

Agreed- However, if you have a company (S corp, C corp, LLC, non-profit corp, etc) and buy or lease the car under the company's name it is a 100% business expense.

If you have a Sole Proprietorship or DBA, it is very tough.