Porsche lease deal - What do you guys think?

[Red Bread]

As someone with an accounting degree but who works solely in finance (ignore the SEC documents I'm currently reviewing), this is a common misconception. Accountants are historians, not financial giants.

[FC4]

From my experience, people who are strongly anti-lease are usually poor.

[positiveions]

Given this thread went off track, It should be left to individuals to decide whether to lease, finance or pay cash.
OP, did you check the rates with Edmunds.com?

[jmg]

Getting back on topic, OP should look into the Conquest Cash incentives from Porsche.

Also, the MF on Porsche leases are notoriously high and they generally don't lease well. I'd consider buying CPO.

[Dog Face Pony Soldier]

Originally Posted by FC4

From my experience, people who are strongly anti-lease are usually poor.

In my experience people who lease are either business owners with a tax incentive; or people who are attempting to get in a more-expensive vehicle than they can afford via financing.

[G35POPPEDMYCHERRY]

i am a leaser and am against it. there is no way youll win with porche, MB, they just dont want their cars leased or make u take the risk. Honestly the high leases on the f8x platform is because the resisduals were so damn high

[Ali Shiralian]

Originally Posted by Chris_DM

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.

It is probably different in Canada. For people who chose to buy because they can't write off then I think buying used is a good option.
I have five cars leased under my company name, 3 at 100% one at 60% and another one at 30%. It also depends on the lease deals and the timing of it I suppose.

[Nkc]

You can currently lease a low to zero miles 2017 leftover NSX stock for ~$1500cad before tax. 2 years term, 12,000km/year allowance, 0.9%, residual ~ $130k. If insurance wasn't around $4500/year for us here, I'd strongly use it as a daily supercar beater.

[Red Bread]

Wait, insurance is how much?!

[Nkc]

Originally Posted by Red Bread

Wait, insurance is how much?!

and taxes are 25%.

[Alfisti]

Originally Posted by Ali Shiralian

It is probably different in Canada. For people who chose to buy because they can't write off then I think buying used is a good option.

You can write off when buying, either new or used. However the laws allow a higher maximum value to be written off via lease than buying.

[Red Bread]

Originally Posted by Nkc

and taxes are 25%.

Yeah, but it might be worth it to get out of this dumb reality show gone off the rails.

[cmyx6go]

Originally Posted by glennQNYC

In my experience people who lease are either business owners with a tax incentive; or people who are attempting to get in a more-expensive vehicle than they can afford via financing.

I'd say there are 3 categories; the two you mention and the third being those that want a new car every two or three years and don't want to buy and sell. BMWs lease great due to the high residual percentages and low MF. My current X6M has 58%. I think one of my leases was 61% - it was a 2 year.

Porsche leases suck. Plus they cap the residual amount. If you option above the cap, it's all on your dime.

[jmg]

Originally Posted by cmyx6go

I'd say there are 3 categories; the two you mention and the third being those that want a new car every two or three years and don't want to buy and sell. BMWs lease great due to the high residual percentages and low MF. My current X6M has 58%. I think one of my leases was 61% - it was a 2 year.

Porsche leases suck. Plus they cap the residual amount. If you option above the cap, it's all on your dime.

I'm in two of those categories. One lease is a commuter between offices for my business and I like to switch it up my weekender very often with the other lease. Both leases are at 61% residual iirc. It's a no-brainer.

[Ali Shiralian]

Originally Posted by Alfisti

You can write off when buying, either new or used. However the laws allow a higher maximum value to be written off via lease than buying.

Yes I'm familiar with Canadian laws about writing stuff off, that's why I lease...

[F32Fleet]

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?

.

[Never_Enough]

Originally Posted by G35POPPEDMYCHERRY

bro, you drive a 328
you honestly shoudn't be buying a BMW. Since you can walk to work! Rich as fuck


you are on a BMW fourm let alone the damn m3 subfourm. I am sure most of us are very successful. Go preach to people who lease simply because they can't afford to buy a car any other way.

And for someone who said buy your big purchases in CASH. WTF you are an accountant?

0.9% financing vs at 5% conversative return in stocks.

anywayz, another lease vs buy thread; always a charm

What? If someone can make a lease payment, they can afford to buy a myriad of cars...

[Never_Enough]

Originally Posted by usshelena725

Nearly 80% of all college graduates over the age of 40 don't have a months pay in the bank. Less than .001% of those over 40 have a net worth in excess of a million dollars. You are wrong.

What's the figure if we take everyone age 35 or older & remove the college graduate part?

[Never_Enough]

Originally Posted by glennQNYC

True, but the bank isn't inspecting a car after the loan matures... Besides, I never said anything about making payments on my BMW.

No, but the next owner is...

No one said your car, I was making a general statement.

[Dog Face Pony Soldier]

Originally Posted by Never_Enough

No, but the next owner is...

You're (perhaps purposely) discounting the fact that a lease company and the person leasing their vehicle has legally-binding contract that has to be addressed at the end of the term. This is simply something that anyone entering into a lease has to rectify at the end of the agreement.

This is not similar at all to a person selling their car on the open market. A vehicle owner with a matured loan has no contract with anyone. Period.

Even when you're selling your car, you have no legal contract with anyone until you decide to enter into one... and that only occurs by choice, after you agree on a deal. This is not a subtle distinction... This is a huge difference.

[Red Bread]

Originally Posted by glennQNYC

You're (perhaps purposely) discounting the fact that a lease company and the person leasing their vehicle has legally-binding contract that has to be addressed at the end of the term. This is simply something that anyone entering into a lease has to rectify at the end of the agreement.

This is not similar at all to a person selling their car on the open market. A vehicle owner with a matured loan has no contract with anyone. Period.

Even when you're selling your car, you have no legal contract with anyone until you decide to enter into one... and that only occurs by choice, after you agree on a deal. This is not a subtle distinction... This is a huge difference.

Is it though? I mean I suppose that if you buy a car to transport loose fish or you have a fetish for spoiled shrimp left in hot cars, you might be a poor choice for leasing, but if you just do basic upkeep, it's unlikely that you're going to owe anything at the end of a lease.


My wife had curbed all four wheels and had a few minor door dings on her lease and we weren't dinged at all. My understanding is that any accident damage repaired by the dealer network is considered sufficient and you have GAP coverage as part of the lease.

So outside of being a heathen or not knowing how much you use your car, what's the actual exposure?

[Dog Face Pony Soldier]

Originally Posted by Red Bread

Is it though? I mean I suppose that if you buy a car to transport loose fish or you have a fetishfir spoiled shrimp left in hot cars, you might be a poor choice for leasing, but if you just do basic upkeep, it's unlikely that you're going to owe anything at the end of a lease.


My wife had curbed all four wheels and had a few minor door dings on her lease and we weren't dinged at all. My understanding is that any accident damage repaired by the dealer network is considered sufficient and you have GAP coverage as part of the lease.

So outside of being a heathen or not knowing how much you use your car, what's the actual exposure?

The point I'm making is a very simple one. It's better to not be bound by a contract at all. However limited the exposure, you're less exposed when you're not contractually obligated at all. This isn't disputable.