2015 Porsche Boxster - do I buy out OR return
 

Thinking about buying my leased 2015 Boxster base manual transmission. Was going to just turn it in as I usually do on leases, but I've got low mileage on this guy (only 18k) and I love driving it. Balance due is 35k. Do I just buy it or return it or go lease or even buy something more practically with my hard earned money?

ugh ok no responses...guess too boring of a question for you hardcore folk. Thanks anyways.

PS ALSO NOTICED A POTENTIALLY WEIRD MECHANICAL ISSUE SINCE I'VE HAD THE CAR (NEW) -- a weird kinda "tire bumping against something" feel on front left tire when I turn car all the way to left...rare - only when pulling out of snug parking spot. Car drives perfectly otherwise. Also obvi prefer the S, but the base was such a crazy good lease deal I went for it...minimal bells, no whistles ;)

I am probably the last person to be asked this question. I am a buy and hold kind of person. I buy what I really like then keep them a long time. I have a 99 Boxster that I bought new in November 1998. It now has over 100k. Just bought a Cayman S. No plans to retire the Boxster. It is as well maintained as any and not worth selling for what I might get out of it. Just more fun to keep it. I do have something more practical so practicality is not an issue.

So...yours is low miles. And you really seem to enjoy it. Even my old one is a blast to drive. Newer ones even better. I know what I would do.

But if practicality is a concern and you still want to have fun, try a Macan. I have driven them and like them. Very sporty for what it is. Practicality, after all, is a relative thing. :)

Thanks for replying Bill :)

I'm with you, being more of buy and hold kinda gal. Find something you love and go...life's too short and so forth.

That said, I had gotten talked into doing company leases a gazillion years ago which worked just fine over past 15 years.(I also put A LOT more miles on 'em 'til this one.

But now starting to transition from working full time to not quite so much so thought maybe I should just buy something already...then when I started looking what's out there new in similar price point (40k or less if I'm being budget-friendly)- but nothing excites me like my little Boxster - not even close. I don't care that it's not the latest and greatest - which I can actually afford if I wanted to go there. Oh and did I mention I only like manuals? Not even a PDK fan.. True - this particular model is not an S let alone a 911 or beyond. But I still dig it. Love the handling and, on a more practical level, the two trunks. ;) Just wasn't sure if my 2015 worth what I owe (40k with tax/license) or what the inevitable repair bills I might be facing down the line. My broker didn't seem to think it's worth it, but not sure why so given what the equivalent make and mileage is going for - at least retail. He is a big Porsche guy so probably more like most on this forum, always searching for the next latest and greatest. ;)

FWIW, leasing a new car and buying it out at the lease end is a very expensive way to buy a car. Just add up all the payments you have made including the cap cost reduction, bank fee, etc. but sales tax on the car so far. The sum of the total payments and the buyout price should be significantly higher than the vehicle's original selling price. However, on the other hand, if you look at it as just one of the used 2015 Boxsters available in today's market, your car should represent the best value. You know the history of the car full well and won't find a car like that for that price anywhere.

As to the "weird mechanical issue" you are experiencing, that's normal with Porsches. Search "Ackerman effect" and you'll see.

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I had a 2014 S I ordered exactly as I wanted it. It was a $76,000.00 retail car and buyout at 2 year lease end with 10,000 miles was $53,250.00. This was my 5th Porsche since 1994 and maybe the funnest car I ever had.

I did not buy it at the time because of other things going on in my life but wish I had. The 718S is 50% more to lease and I do not like the car as much as the NA Flat 6 and I would not buy a 718S.

I ended up with a 2 year lease on a Corvette Convertible which is a nice car and was cheap to lease but I miss the quality and soul of a Porsche.

You'd be hard pressed to find your car for less than $35k on the market today and you already know and love it, so there's your answer.

Didn't look like you waited too long for responses... it is a Saturday, after all!

As someone else already mentioned, I don't think you could buy your car for $35k on the market, or at the very least it would be an attractive price. So why go through the trouble of finding a new car if you've already got one you like, and you know every last detail about its history? The only thing I could possibly recommend is considering purchasing another CPO 981 but make it an S or GTS this time. You'd still get a factory warranty and effectively upgrade to a more powerful model... but honestly, if it ain't broke, don't fix it.

That said, if you were to move on to something else, you may want to consider trading your car in. You will have to do some calculations, but you may end up coming out on top if you live in a state that offers tax credit on the trade-in value of the car. This is how I ended up only paying tax on $14k of my 2015 Boxster GTS. It will likely offset the minimal negative equity (kbb trade-in for your car should be ~$33-34k), and you may end up getting a better deal because the dealer you trade in to will also be able to make money off of your used car. Yet another option would be to sell outright... but yeah the easiest option would be to turn it in and start again from scratch.

Last of the naturally aspirated, wonderful mid-engine car and great price compared to what you would pay for a similar car. I would definitely keep it. Regardless of the potential of appreciation in the future, it is still worth it.

I am jealous of that benefit. In CA, it's full tax on the full price of the new car. Period.

Delete of repeat post.

Betty, what comes across in your posts is your genuine love for the car. That fact alone puts me firmly in the "keep" camp. Good luck with your decision.

The lease price was based on 30K miles after 3 years, and you only have 18K miles. So the dealer makes out on a car like this, since it will retail for much more than forecasted. If you don't buy it yourself, you should consider selling it. You should be able to sell it for a lot more than $35K.

OP, keep it. I will never sell my 981 3.4L BS. It will be in my estate when I die unless I give it to my son before then, but only if he promises to never sell it and keeps it in the family.

"PS ALSO NOTICED A POTENTIALLY WEIRD MECHANICAL ISSUE SINCE I'VE HAD THE CAR (NEW) -- a weird kinda "tire bumping against something" feel on front left tire when I turn car all the way to left...rare - only when pulling out of snug parking spot. Car drives perfectly otherwise"

Betty, this is totally normal, it is due to the front suspension geometry.

No ones mentioned this but what about re-leasing it through a third party. Many companies now lease "used" Porsches. Even Porsche Finance may do the job. Just a thought as I've leased many used cars. Imagine the lease payment on $35K !