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2019 GT3 RS Leasing - Anyone have experience in this? Money Factor?

 
Old 12-27-2018, 05:48 PM
  #31  
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Originally Posted by John Belk View Post
Iíd mentioned running in my earlier post, based on the terms you presented. If you do end up leasing please go in with a full understanding of the very fine print with respect to early termination fees and penalties, which are never in the favor of the leasse. People lease for different reasons, but with this particular car some people above are providing you with sound advice (buy the car). There are also those that lease that truly cannot afford the car..not saying thatís you, but folks get in a jam and the leassor will be there to take full advantage them...seen it.
Best to you!!! JB
I'm choosing to lease because I can keep more money in my hand. I'll end up spending about $12k more in interest, but with the extra money i can keep in my hand for the business I own a i can make a lot more than the $12k in interest i pay.
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Old 12-27-2018, 05:52 PM
  #32  
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Originally Posted by WernerE View Post
I got excited until I learned Amazon Leasing is only available in California. The residual and money factor are significantly more competitive than PFS. I might have leased my GT3 had Amazon Leasing been available where I live.

Why leasing? Minimize cash outlay on a depreciable asset and offers downside resale protection if things go to hell in a hand basket.

My car has finally arrived and is getting filmed-up. Details and pics later.
Be aware - Amazon leasing is open ended leasing - meaning if the car depreciates a lot more than they expected you wouldnt be able to just turn it back in free and clear.
However, if there was ever a car i was confident in, a GT3 RS would be it. My residual 3 years later is $154k on a GT3 RS with amazon, i think its a reasonable risk to take to assume the car will be worth more than $154k.
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Old 12-27-2018, 06:01 PM
  #33  
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Originally Posted by Aparsh
Be aware - Amazon leasing is open ended leasing - meaning if the car depreciates a lot more than they expected you wouldnt be able to just turn it back in free and clear.
However, if there was ever a car i was confident in, a GT3 RS would be it. My residual 3 years later is $154k on a GT3 RS with amazon, i think its a reasonable risk to take to assume the car will be worth more than $154k.
Yes it will be worth more than 154k if you get the right color combo!
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Old 12-27-2018, 06:36 PM
  #34  
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With what information youíve presented, itís hard to see why you wouldnít just finance some or most of the purchase over a long term.

The rates increase with longer terms, but 84 month and 120 month car loans are a thing. The 120 month terms are specialty lenders and they may offer interest only payment options. And 84 months on a standard auto loan just isnít that uncommon anymore.

For example, my CU would offer 3.74% for an 84 month term, payments of $13.55 per $1k borrowed. Theyíd want a total financed under $200k. If you put the larger $100k figure down and youíre at $140k financed, your payments would be $1897. If you finance $200k, payments are $2710. But keep in mind that a principal only payment on $200k would be $2381.

If you need to keep your monthly payment obligation minimized, besides the specialty loans you could consider a HELOC or HELOAN second mortgage. You can easily find minimum payments that are interest only, and you could always close the second mortgage later by getting an auto loan and repaying it.
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Old 12-27-2018, 06:50 PM
  #35  
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Amazon leases are closed ended. You need to look at the info boxes to see this. Their website looks super low rent.
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Old 12-27-2018, 06:50 PM
  #36  
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Why would you lease a GT3RS? Just buy it. You'll probably pay less every month and have equity in the car (since it'll most likely go up within the next 10 years). In the end, you gotta do what works best for you, but I'd never lease a GT car.
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Old 12-27-2018, 06:52 PM
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I wouldn't lease a GT car either, but IIRC ,if you could call it your company car, the company could write off the full lease payment right? That might be worth it for some if they could get a fair lease rate.
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Old 12-27-2018, 06:53 PM
  #38  
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Originally Posted by Aparsh View Post
I'm choosing to lease because I can keep more money in my hand. I'll end up spending about $12k more in interest, but with the extra money i can keep in my hand for the business I own a i can make a lot more than the $12k in interest i pay.
Iím truly happy for you and that youíre getting into an awesome car!!! We all make decisions that work best for us in our particular slice of time and it sounds like youíre doing exactly that. Keep working hard and in years to come youíll walk into a dealership with your checkbook in hand with the only challenge being what model, color and options you want. Itís a great place to be in life....mostly everything else is just noise.
JB
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Old 12-27-2018, 07:37 PM
  #39  
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Originally Posted by joejenie View Post
I wouldn't lease a GT car either, but IIRC ,if you could call it your company car, the company could write off the full lease payment right? That might be worth it for some if they could get a fair lease rate.
I wouldnt want to mess with leasing a GT3 RS on my company name. I've been told by my tax guy, accountant, and financial advisor that the first thing IRS red flags are expensive cars.
An expensive truck is one thing, a sports car is another.
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Old 12-27-2018, 07:38 PM
  #40  
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Originally Posted by John Belk View Post


Iím truly happy for you and that youíre getting into an awesome car!!! We all make decisions that work best for us in our particular slice of time and it sounds like youíre doing exactly that. Keep working hard and in years to come youíll walk into a dealership with your checkbook in hand with the only challenge being what model, color and options you want. Itís a great place to be in life....mostly everything else is just noise.
JB
Thanks JB - very nice of you to say. I hope when this 3 year lease is up im ready for another step up
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Old 12-28-2018, 12:17 AM
  #41  
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Originally Posted by C.J. Ichiban View Post
Yes it will be worth more than 154k if you get the right color combo!
I am about to finalize, how is black with WP, CCBs, and "gold" rims? I am fairly new to the GT Porsche world so looking for some help

aparasch , are you structuring the lease personally or corporate?
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Old 12-28-2018, 01:26 AM
  #42  
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There is a lot of very bad information in this thread.

If you plan on short term ownership, leasing is ó by far ó the best avenue, regardless of the higher interest rates charged by PFS. I know numerous people who have driven GT cars for less than a year for free, and leasing is the way to do it. Many of the GT cars you see for sale with minimal miles were leased. Consider for a moment just the tax savings on a quarter million dollars.

When you lease GT cars which are worth more than MSRP when you take delivery, the traditional negative preconceptions of leasing do not apply.

A HELOC is probably the worst decision you could make. Banks advertise an extremely low interest rate on HELOCís which always lure buyers, but they donít tell you how many years your balance is amortized. Low rates amortized over a long period is dramatically more expensive than a slightly higher fixed rate amortized over 5-6 years.

The question of whether the GT3RS will be worth at least $154k in three years is the wrong question. Many unregulated leasing companies like Amazon reserve the right to charge market prices if leases are terminated early. Ally Bank owned the paper for all Maserati leases, and they were infamous for giving different payoff balances (much higher by several thousand) to non-Maserati dealers. Does Amazon reserve the right to charge market price if the lease is terminated early? Is the residual guaranteed and fixed regardless of true market value at both lease-end and any point beforehand? How is the payoff calculated? What is the acquisition fee, the disposition fee, termination fee, processing fee, etc.? Are you allowed to track the car? You need to have these questions answered because they could swallow that equity you think you have. Keep in mind, Amazon Leasing is not a bank - which means it is not regulated by traditional consumer protection laws. Perhaps Amazon is the better lease, but you certainly want to ask many questions before you sign.

PFS May have the higher rates but there are no games with payoff calculations.

Leasing is awesome ó if done correctly and if your intent is short-term ownership on GT cars.






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Old 12-28-2018, 03:32 AM
  #43  
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Originally Posted by ChicagoWhale View Post
There is a lot of very bad information in this thread.

If you plan on short term ownership, leasing is ó by far ó the best avenue, regardless of the higher interest rates charged by PFS. I know numerous people who have driven GT cars for less than a year for free, and leasing is the way to do it. Many of the GT cars you see for sale with minimal miles were leased. Consider for a moment just the tax savings on a quarter million dollars.

When you lease GT cars which are worth more than MSRP when you take delivery, the traditional negative preconceptions of leasing do not apply.

A HELOC is probably the worst decision you could make. Banks advertise an extremely low interest rate on HELOCís which always lure buyers, but they donít tell you how many years your balance is amortized. Low rates amortized over a long period is dramatically more expensive than a slightly higher fixed rate amortized over 5-6 years.

The question of whether the GT3RS will be worth at least $154k in three years is the wrong question. Many unregulated leasing companies like Amazon reserve the right to charge market prices if leases are terminated early. Ally Bank owned the paper for all Maserati leases, and they were infamous for giving different payoff balances (much higher by several thousand) to non-Maserati dealers. Does Amazon reserve the right to charge market price if the lease is terminated early? Is the residual guaranteed and fixed regardless of true market value at both lease-end and any point beforehand? How is the payoff calculated? What is the acquisition fee, the disposition fee, termination fee, processing fee, etc.? Are you allowed to track the car? You need to have these questions answered because they could swallow that equity you think you have. Keep in mind, Amazon Leasing is not a bank - which means it is not regulated by traditional consumer protection laws. Perhaps Amazon is the better lease, but you certainly want to ask many questions before you sign.

PFS May have the higher rates but there are no games with payoff calculations.

Leasing is awesome ó if done correctly and if your intent is short-term ownership on GT cars.
Great post. So question for you, the folks who lease their GT cars...how long of a lease do they get? 24 months? 36 months? So if an owner was done driving the car after a year, then can sell the car to pay off and terminate the lease early, correct?
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Old 12-28-2018, 03:58 AM
  #44  
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Originally Posted by usctrojanGT3 View Post
Great post. So question for you, the folks who lease their GT cars...how long of a lease do they get? 24 months? 36 months? So if an owner was done driving the car after a year, then can sell the car to pay off and terminate the lease early, correct?
it doesnít matter really
u have to FINISH the lease u donít get out of it. i pay it out. u will have losses but in comparison to losses of financing u are abreast simplwmon ca tax. .

if sales tax is taken out then not much advantage
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Old 12-28-2018, 04:00 AM
  #45  
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Originally Posted by ChicagoWhale View Post
There is a lot of very bad information in this thread.

If you plan on short term ownership, leasing is ó by far ó the best avenue, regardless of the higher interest rates charged by PFS. I know numerous people who have driven GT cars for less than a year for free, and leasing is the way to do it. Many of the GT cars you see for sale with minimal miles were leased. Consider for a moment just the tax savings on a quarter million dollars.

When you lease GT cars which are worth more than MSRP when you take delivery, the traditional negative preconceptions of leasing do not apply.

A HELOC is probably the worst decision you could make. Banks advertise an extremely low interest rate on HELOCís which always lure buyers, but they donít tell you how many years your balance is amortized. Low rates amortized over a long period is dramatically more expensive than a slightly higher fixed rate amortized over 5-6 years.

The question of whether the GT3RS will be worth at least $154k in three years is the wrong question. Many unregulated leasing companies like Amazon reserve the right to charge market prices if leases are terminated early. Ally Bank owned the paper for all Maserati leases, and they were infamous for giving different payoff balances (much higher by several thousand) to non-Maserati dealers. Does Amazon reserve the right to charge market price if the lease is terminated early? Is the residual guaranteed and fixed regardless of true market value at both lease-end and any point beforehand? How is the payoff calculated? What is the acquisition fee, the disposition fee, termination fee, processing fee, etc.? Are you allowed to track the car? You need to have these questions answered because they could swallow that equity you think you have. Keep in mind, Amazon Leasing is not a bank - which means it is not regulated by traditional consumer protection laws. Perhaps Amazon is the better lease, but you certainly want to ask many questions before you sign.

PFS May have the higher rates but there are no games with payoff calculations.

Leasing is awesome ó if done correctly and if your intent is short-term ownership on GT cars.






correct
nutnill add
1 HELOC are usually not amortized until 7th or 10th year after drawn period.
2 during draw period its interest only so
ot SEEMS very good. but it really isnít. I much rather just get car loan instead of heloc on cars.
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