Porsche lease deal - What do you guys think?

[Animal Farm]

No... That’s a bad deal.

[Never_Enough]

Originally Posted by usshelena725

Well, true - but that's a whole other problem.

Of course, some of them might be a bit closer if they didn't have $700 lease payments. Just sayin.

Now everyone has $700 lease payments? Come on...

[Run Silent]

Originally Posted by Never_Enough

Now everyone has $700 lease payments? Come on...

Originally Posted by usshelena725

Of course, some of them might be a bit closer if they didn't have $700 lease payments. Just sayin.

Good grief.

[Never_Enough]

Originally Posted by usshelena725

Good grief.

Good grief is right, you can't come up with a legit argument.

[Run Silent]

Originally Posted by Never_Enough

Good grief is right, you can't come up with a legit argument.

Bro, maybe it's just because inflection is hard to convey via the internet, but I literally have no idea what you are on about.

[roastbeef]

i guess an absolutely terrible deal is still a "deal."

[PshhhhhMW]

Originally Posted by usshelena725

Bro, maybe it's just because inflection is hard to convey via the internet, but I literally have no idea what you are on about.

I really don't know why anyone still argues with you. You have your preference but it's not the end all be all answer. Especially when you're stuck on comparing leasing new and buying used.

I will always prefer leasing new. I've been burned too many times on used cars and maintenance/repair cost. I'm willing to pay a little more to not worry about those things. That's my preference.

[Run Silent]

Originally Posted by PshhhhhMW

I will always prefer leasing new. I've been burned too many times on used cars and maintenance/repair cost. I'm willing to pay a little more to not worry about those things. That's my preference.

Your point, sir, is one I can wholeheartedly accept and appreciate.

You stated that it costs more to lease, yet you understand this and have conscientiously decided to do so as the extra cost is worth the peace of mind to you. You know what? That is perfectly acceptable and I chose to do that with some things in my life as well, such as grocery deliver as one example.

It's the folks that harp on it being the best and least expensive option that bug me. It isn't the cheapest, far from it, and so long as you understand that going in but have your own personal motivations for doing so, then it is fine.

Best regards.

[c1pher]

Originally Posted by PshhhhhMW

I really don't know why anyone still argues with you. You have your preference but it's not the end all be all answer. Especially when you're stuck on comparing leasing new and buying used.

I will always prefer leasing new. I've been burned too many times on used cars and maintenance/repair cost. I'm willing to pay a little more to not worry about those things. That's my preference.

I always fantasize about leasing since I'm such a car whore, but drive too much and would hate the fact that I'd be mileage limited or pay a huge price at the end.

With that said, the OP's price is like $600 more than I was quoted for a 911T I was looking at.

[PshhhhhMW]

Originally Posted by MGM135is

I always fantasize about leasing since I'm such a car whore, but drive too much and would hate the fact that I'd be mileage limited or pay a huge price at the end.

With that said, the OP's price is like $600 more than I was quoted for a 911T I was looking at.

Theres ways to get around the mileage penalty but having a super reliable daily to help is a must.

[paliknight]

Originally Posted by MGM135is

I always fantasize about leasing since I'm such a car whore, but drive too much and would hate the fact that I'd be mileage limited or pay a huge price at the end.

With that said, the OP's price is like $600 more than I was quoted for a 911T I was looking at.

What dealership and are these things negotiable?

[Dog Face Pony Soldier]

For comparison; a quick search shows Porsche has a 1,299 per month for 36 months with $9,749 due at signing on 2019 911 Carrera Coupe... At least for Manhattan residents.

https://cars.usnews.com/cars-trucks/...-deal-zip-form

[Ali Shiralian]

Most people whom I know lease their cars as a tax write off. I know I would never buy or lease a car if I can't totally write it off...

[jmg]

Originally Posted by usshelena725

1) $102K for a freaking boxster??? Um, yeah look. No.

2) Leasing is the absolutely most expensive way to drive a car. As a CPA, I strongly discourage anyone from leasing a vehicle, but it is ultimately your decision.

3) The total cost of that lease is approximately $70,000 - and at the end, you have nothing to show for it. In what world would this possibly make sense?

This deal in this thread is HORRIBLE, but I disagree on the general notion that the lease is the most expensive way to drive a car. That's pretty horrible advice especially a CPA. A blanket statement like that is misleading and not true in all cases.

You are basically paying the depreciation on a lease. If you purchase and sell the car after you've paid it off, you are paying the amount you have purchased the car for minus it's residual value when you sell it. That means you've paid for the depreciation. Thus, in both cases you have paid for the depreciation.

Now, if you keep the car for longer than 3-6 years then it starts to make sense, but if you are selling your car every 3 years, it makes no sense to purchase it and be a slave to the market. Lock in your residual and take advantage of smaller exposure.

There are plenty of successful and smart people who lease because they see the financial advantages of it. Blanket statements like that keep those that can benefit from leases ignorant of it, which is not in their best interest.

[jmg]

Originally Posted by usshelena725

Yessir. I may spend more than you on cars (about $25K, but always pay cash), but I get them with 20k miles on them or so and keep them for about 7 years and another 100K. Ends up costing me around $200-$250 per month to save for the next car plus maintenance and repairs, which typically runs around $50/mo on the average over the long term. Pretty good numbers in my opinion.

That sound really boring.

Originally Posted by usshelena725

You stated that it costs more to lease, yet you understand this and have conscientiously decided to do so as the extra cost is worth the peace of mind to you. You know what? That is perfectly acceptable and I chose to do that with some things in my life as well, such as grocery deliver as one example.

It's the folks that harp on it being the best and least expensive option that bug me. It isn't the cheapest, far from it, and so long as you understand that going in but have your own personal motivations for doing so, then it is fine.

Best regards.

The cheapest would be to take the bus, but at lease you kind of get what we are saying.

[Flacht3]

Originally Posted by Ali Shiralian

Most people whom I know lease their cars as a tax write off. I know I would never buy or lease a car if I can't totally write it off...

If you would never buy or lease a car that you can't totally write off then what's your solution? Walk everywhere? Not everyone can deduct their auto expense so what would you do in that situation?

Also you can never "totally" write off a car lease. The limits in deduction are actually not nearly as exciting as some folks would have you believe...but maybe it's a bit different up in Canada.

[saeyedoc]

If you're financing, you get a much better interest rate buying over leasing (at least for Porsche).

[Dog Face Pony Soldier]

Dare I feed into this thread being a discussion of buy versus lease, but I find I'm not an ideal candidate for a lease... Even if I put aside the fact I drive 30k/miles a year.

I say this because first and foremost I ALWAYS modify and customize my car. Leasing isn't conducive to customization. This is probably the main reason (after mileage) I buy instead of lease.

Also- I feel I keep my car in too good of a condition to lease. My car always is worth more than average when I'm done with it. Perhaps this is imperfect or weak logic, but honestly it that impacts my decision nonetheless.

Lastly, I like the freedom of timeline with buying. I don't want to feel governed by a lease contract as to when I get out of a vehicle. This reason is significant for me.

All that being said... My girlfriend and I do lease her car. She doesn't drive a lot; doesn't customize; and keeps her car condition like.... umm... an average person.

[Never_Enough]

Originally Posted by glennQNYC

Dare I feed into this thread being a discussion of buy versus lease, but I find I'm not an ideal candidate for a lease... Even if I put aside the fact I drive 30k/miles a year.

I say this because first and foremost I ALWAYS modify and customize my car. Leasing isn't conducive to customization. This is probably the main reason (after mileage) I buy instead of lease.

Also- I feel I keep my car in too good of a condition to lease. My car always is worth more than average when I'm done with it. Perhaps this is imperfect or weak logic, but honestly it that impacts my decision nonetheless.

Lastly, I like the freedom of timeline with buying. I don't want to feel governed by a lease contract as to when I get out of a vehicle. This reason is significant for me.

All that being said... My girlfriend and I do lease her car. She doesn't drive a lot; doesn't customize; and keeps her car condition like.... umm... an average person.

Depends on what mods you do. I have modded all my leased cars. That includes nitrous on one of them

Also, condition is a moot point. If anything, what you said is a plus for the lease side.

Sometimes leasing X car is the better financial decision v buying. My Hellcat, for example, was cheaper to lease vs buy. I don't keep cars forever so no brainer.

[Never_Enough]

Originally Posted by usshelena725

Please offer one example where leasing a vehicle would be a better financial decision versus buying a very slightly used CPO, with the exception of a zero emissions vehicle in certain states such as California and the like?




I wouldn't say it is boring. We have two cars, and each gets replaced every 7 years or so, so there is a new(ish) car in the garage every 3 or 4 years. Not too shabby.

My Hellcat. Was cheaper to lease it than buy used.

[Dog Face Pony Soldier]

Originally Posted by Never_Enough

Depends on what mods you do.

That is exactly my point. I don't want to feel like I have a lease to consider when deciding on modifying my car. I find great comfort in knowing it's my car, and I can do whatever I want with it.

[Alfisti]

Here are my numbers;

• Based on purchase of loaded CPO 35i X3 in May 2016
• Row D is budget, E Actuals to date, F Estimate and G comparable lease
• All numbers include all taxes, fees and charges
• Wife is a partner so can write off
• Utilising a 50% work useage claim at a 48% marginal rate (has increased to 53% recently just to fuck with my numbers)
• The more aggressive than budgeted depreciation hurts the resale but not the claimable amounts as there are limits to claiming depreciation
• One can claim more on a lease
• BMW at the time included servicing in the lease

I believe numbers to be quite accurate and IMHO show that a lease, an expensive one at that, is not that far off of a CPO purchase. The $1150 upcoming is for brakes but tyres were replaced by dealer for CPO purposes so when they are due in a couple of years and the water pump fails, am i better off having the wife lease?