Walk me through leasing a 991.2
#32
#34
Drifting
#36
Burning Brakes
#37
Rennlist Member
You might want to take a look at the PenFed "payment saver" balloon loan option. On a $100K, 36 month loan the payment is $1,300/month. Big difference is that the residual thru them after 3 years is about $57K. If your residual thru Porsche is 63% that's about $65K on a $104K MSRP. If your state also allows a sales tax credit when you trade a purchased vehicle, you could have $10K additional equity with PenFed. Something to consider possibly.
Add to that about $3,000 savings at $90/month and you could be ahead by as much as $13K. At some point this starts to look like real money
Add to that about $3,000 savings at $90/month and you could be ahead by as much as $13K. At some point this starts to look like real money
The only downside that I see is I retain the ownership risks in an accident situation. However, I believe diminished value is now commonly pursued to mitigate this issue. I don't see this car being worth less that $58k in three years. Let me see if I can make this happen. Thanks very much C7!
#38
That is a fantastic idea. I just confirmed your numbers on the Penfed "payment saver' payment calculator. I was a member, got right into the website. It's almost like you are financing your own lease. So a lower residual, likely same start up costs (actually no security deposit and $1,000 bank fee will go into the car's equity) and lower payments. I think you are correct, there is an chance for equity.
The only downside that I see is I retain the ownership risks in an accident situation. However, I believe diminished value is now commonly pursued to mitigate this issue. I don't see this car being worth less that $58k in three years. Let me see if I can make this happen. Thanks very much C7!
The only downside that I see is I retain the ownership risks in an accident situation. However, I believe diminished value is now commonly pursued to mitigate this issue. I don't see this car being worth less that $58k in three years. Let me see if I can make this happen. Thanks very much C7!
I first heard about PenFed about 8 or 10 years ago on a Nissan 350Z forum when my wife was driving a Z. It's been a great option for me since then, glad to pass on the info!
#39
Rennlist Member
Yeah, none of the BS bank fees and such is another benefit. Personally, I think you're going to come out way ahead with PenFed, barring something fairly unlikely like a significant accident. If you think you may be >$10K ahead with PenFed even an accident probably wouldn't eat that up entirely.
I first heard about PenFed about 8 or 10 years ago on a Nissan 350Z forum when my wife was driving a Z. It's been a great option for me since then, glad to pass on the info!
I first heard about PenFed about 8 or 10 years ago on a Nissan 350Z forum when my wife was driving a Z. It's been a great option for me since then, glad to pass on the info!
I'm just curious about what the amortization would look like for the first two years. Sometimes I get so stupid in love with something new that comes out, I need to wiggle out of a one or two year old car.
I refi'd a BMW with them about 6-7 years ago. Worked out well. I just looked up my account and I've got $15 bucks just sittin' there!
#40
see my post #14 in this thread https://rennlist.com/forums/991/9805...-question.html for a link to a balloon loan calculator that provides an amortization schedule. That might help you decide on the term.
And yeah, I think I have about the same amount in my PenFed account
And yeah, I think I have about the same amount in my PenFed account
#41
Rennlist Member
see my post #14 in this thread https://rennlist.com/forums/991/9805...-question.html for a link to a balloon loan calculator that provides an amortization schedule. That might help you decide on the term.
And yeah, I think I have about the same amount in my PenFed account
And yeah, I think I have about the same amount in my PenFed account
A bit of drama though, I'm not convinced the dealer secured the car. I'll know tomorrow.
#43
Rennlist Member
#45
RL Community Team
Rennlist Member
Rennlist Member
Originally Posted by NNN Investment
Got it. My trade was done at my buddies dealership. It's a shame that the tax savings can't be transferred to any dealer.