one thing that bugs me on a Porsche buy/lease
if you goto a dealer and they run your credit ,Porsche finical will as well..if you don't like the deal and hit up the next dealer..they run your credit again.
Porsche needs to allow you to pre qual online then go shopping.

 

Cheapest way to own a car is to buy it used, pay cash, and drive it till the wheels fall off. For me, the nest cheapest way is to lease one, turn it in at the end of the lease and start again.

 

Yes, for a lease this good, it's unlikely the buyout is going to be a good deal.

 

The examples of where a lease is beneficial would have nothing to do with a individual who wants to lease a Porsche .

1) Corporations lease vehicles because it jives with their balance sheets and takes them out of having to go into the used car business with a fleet of cars.

2) A low income person with good credit might need a reliable way to get to work and rather than risk buying an old car with repairs might benefit from a leasing an economy car until he gets on his feet .

3) There are even some manufacturer subvented lease programs which come close enough to benefit a business owner (unlless he loses the business) .

I can give more examples .. because there are those who benefot from leasing . I only gave three .

BUT .. that is NOT the case with a person who is living beyond his means and leasing a new Porsche because he can't afford to buy one . Period !!! There is no benefit to this.

 

The problem with PFS is that low residual value and relatively high money factors on 911. No matter how you word, spending $1600 a month to rent a 911 for 36 months seems like a waste of money to me. I think I did well by buying a 5 month old C2S with 2xxx miles, running a PPI and DME, paying 20% less than the original MSRP, driving it for 4 years, and having a friend offer to buy it for $22K less than what I paid for it, which BTW is less than KBB/Edmunds resale value.

Lease new 997.1 C2S at 0 down, $1600/month (price I was quoted on new lease at time) x 36 months=$57600 for 3 years of ownership and having nothing to show for it.

$22000/48 months of ownership=$458.33/month

You do the math

 

I concur, could not have said it better. I think leasing, especially a sports/luxury car is a waste of money. Why pay all that money in 3 years and get nothing for it? Buy used, In this case, if you brought it used a couple of years ago, you can sell it for more than what you've paid. Or a little less, basically driving for free with the exception of service and gas. I've noticed prices of the 997 has gone up.

 

Well one thing that I just want to point out is you can't compare the number between a used car and a lease. Initially, the first owner already took the 20% hit through depreciation. With your situation, even the number from financing can be seen illogical just because of the 20% depreciation difference

 

This is spurious reasoning. Yes, it is true that it costs money to drive a car.

However, the argument about 'you could do something else with the money' is one that's often used to justify making payments on something instead of buying it outright. (often by those who can afford neither!)

This argument makes no sense to me. If I pay cash instead of $1500 per month, I will have that $1500 every month that I can invest, etc. (or put in an account until it's time for the next car)

To use the same reasoning - you are spending $1500 per month that you could be doing something else with!

Either way, money leaves and never returns. I'd much rather avoid paying interest on a depreciating 'asset'. And have the security that no matter what happens, I do not have a payment to worry about.

 

Nobody said buying new was a good idea either!

 

Paying $18,000 a year to rent a car is pretty insane. As my friend has said, leasing a Porsche is simply a case of living beyond your means. Nevertheless I look at the guy with the wrecked Targa and think, wow lucky he was leasing that car! I think it a bit less in the Porsche community because relative cost of ownership on a new Porsche is very substantial. What makes me laugh is on the BMW boards when half the members are in their 20's spending $900+ per month leasing an M3.

 

This makes very little sense. If you plonk down $100k to buy a car and 24 months later sell it for $75k, you just paid $25k to rent that car for two years. So either way, you pay for the depreciation. plus you tied up $100k for two years. From 2009 till present, that may have cost you in investment returns.

Lease vs. Buy is much more complicated than good idea vs. Bad idea. It depends on your tax situation, whether you can make more $ vs. Tying up the cash, what the residual, MF is, discount, whether you pay tax on the whole amount vs. The CCR etc.

 

"if you plunk 100K " is ambiguous . It does not state what the car's MSRP was .

A 100K MSRP car sold for a lot less 2 years ago and can still get 75K . Discounts then were at least 10 percent and in some cases as high as 20 percent off . (Imagine a 100K car that sold for 80K then).

Now compare that to paying 36K plus tax to lease it and face mileage restrictions as well as term conditions .

Big difference.

BTW .. I did the comparison with a Turbo as well .
Even bigger difference.

 

There are some people who like to track their Porsches, and then simply turn them in at the end of the lease period. I like to own my cars, so I bought mine, but I see a lot of track cars that are on lease contracts.

 

Why are numerous people going on about prices two years ago? That is irrelevant now. The market has changed. You cannot get 20% off a new Porsche these days, so talking about what happened in the past seems, to me, pointless.

I can afford to pay cash for a new car. I would tie up approx $100K. 2-3 later I know I will sell it (taking an unknown hit on depreciation). Dealers are offering residuals of over 70% now which I think is decent given the 991 factor. On a 2 year lease I can prepay a C2 lease for $27K, regardless of whether I buy or lease, I would expect to lose at least this much on depreciation. So why is it so bad to prepay a 2 year lease and have the option to buy the car outright at the end should the car be worth more than 71% or walk away?

The way I see it: if you prepay your lease you negate many of the financial downsides but still retain the option to purchase the car at lease end or walk away should the financials not make sense, whilst reducing the financial negatives or Porsches crappy lease program.

 

Looks like a few of migrated to this forum and they don't want to hear it .
When one explains to them the expense they just don't want to face it . Instead they just keep posting questions hoping to gain some knowledgle or insight to make a "no Porsche" turn into a "yes Porsche" .
They think that anyone who points to the actual numbes is either too old or a party pooper or just doesn't know.

They just don't know how to accept the word "no" and in some cases they don't have to. They can lease the car , pay all that money , live at home with their parents .. and postpone growing up.