2019 GT3 RS Leasing - Anyone have experience in this? Money Factor?
12-21-2018, 10:15 PM
#16
CJ,
What would long term financing be for this car, at what interest rate? I was also told and have used in the past, the single pay lease with a 20% residual pay off at the end of the lease term, 2 or 3 year term with PFS, if you have the means and if it makes sense for accounting reasons/ tax purposes. That should save you approximately $400.00 a month in interest.
What would long term financing be for this car, at what interest rate? I was also told and have used in the past, the single pay lease with a 20% residual pay off at the end of the lease term, 2 or 3 year term with PFS, if you have the means and if it makes sense for accounting reasons/ tax purposes. That should save you approximately $400.00 a month in interest.
12-21-2018, 10:19 PM
#17
Racer
I’d 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 that’s you, but folks get in a jam and the leassor will be there to take full advantage them...seen it.
Best to you!!! JB
Best to you!!! JB
12-21-2018, 10:35 PM
#18
Instructor
I never understand leasing a car. Every time I bought a new car, the sales person tried to talk me into leaving it, but it turned out to be more expensive. Of course, we are talking about normal cars and I have the money to pay it off less than 2 years after financing it.
About your deal. I do not understand it. You pay $100,000 down. + $1816/month x 12 months x 3 years = $165,376. So after 3 years, you have to return the car if you decide not to buy it? So you paid $165k and got nothing after 3 years?.......... Please help me understand this.
About your deal. I do not understand it. You pay $100,000 down. + $1816/month x 12 months x 3 years = $165,376. So after 3 years, you have to return the car if you decide not to buy it? So you paid $165k and got nothing after 3 years?.......... Please help me understand this.
12-22-2018, 12:29 AM
#19
Rennlist Member
Lease an RS?
Worse than shove. $165k and you give the car back or pay even more (whatever the pre agreed buyout is in the lease. Let's say that's 50% PF the original value or $110k assuming an average ish price. So you're in for $275k on a $220k car with the next one rolling out crushing your value. Good luck w that.
Worse than shove. $165k and you give the car back or pay even more (whatever the pre agreed buyout is in the lease. Let's say that's 50% PF the original value or $110k assuming an average ish price. So you're in for $275k on a $220k car with the next one rolling out crushing your value. Good luck w that.
12-22-2018, 12:33 AM
#20
I never understand leasing a car. Every time I bought a new car, the sales person tried to talk me into leaving it, but it turned out to be more expensive. Of course, we are talking about normal cars and I have the money to pay it off less than 2 years after financing it.
About your deal. I do not understand it. You pay $100,000 down. + $1816/month x 12 months x 3 years = $165,376. So after 3 years, you have to return the car if you decide not to buy it? So you paid $165k and got nothing after 3 years?.......... Please help me understand this.
About your deal. I do not understand it. You pay $100,000 down. + $1816/month x 12 months x 3 years = $165,376. So after 3 years, you have to return the car if you decide not to buy it? So you paid $165k and got nothing after 3 years?.......... Please help me understand this.
If you have 100k to put down as a down payment- do long term financing- put down 50k and use the extra 50 to subsidize your payments.
Id never ever in a million years lease a Porsche GT car. It just financially makes no sense.
12-22-2018, 12:52 AM
#21
Racer
this. Lets say in 3 years if the msrp of the rs was 220k for the sake of discussion, likely you can sell it for 200, maybe 180k. Buy the car outright and you save a ton of money.
If you have 100k to put down as a down payment- do long term financing- put down 50k and use the extra 50 to subsidize your payments.
Id ever in a million years lease a Porsche GT car. It just financially makes no sense.
12-22-2018, 01:27 AM
#22
Race Car
I never understand leasing a car. Every time I bought a new car, the sales person tried to talk me into leaving it, but it turned out to be more expensive. Of course, we are talking about normal cars and I have the money to pay it off less than 2 years after financing it.
About your deal. I do not understand it. You pay $100,000 down. + $1816/month x 12 months x 3 years = $165,376. So after 3 years, you have to return the car if you decide not to buy it? So you paid $165k and got nothing after 3 years?.......... Please help me understand this.
About your deal. I do not understand it. You pay $100,000 down. + $1816/month x 12 months x 3 years = $165,376. So after 3 years, you have to return the car if you decide not to buy it? So you paid $165k and got nothing after 3 years?.......... Please help me understand this.
He’d get a few likes and comments on the gram for it.
I wouldn’t put put money down on a lease, because if you total it, it’s gone.
12-22-2018, 01:40 AM
#23
Money factor and residual on a GT3 with PFS absolutely suck. I’m amazed if anyone leases a GT model with PFS. Too bad.
12-22-2018, 01:40 AM
#24
....there may be more to this scenario for the OP than he’s sharing, but I’m in your corner and agree 100%. Another factor is it seems these GT cars turn over faster than most Porsches. Looking for my RS, I noticed a large number of GTs and RS were owned for aprox one year (give or take). I don’t have any data to support my assumptions, but getting locked into a a 3 year lease seems a factor to really think through.
12-22-2018, 12:16 PM
#25
Rennlist Member
For anyone landing on this thread with a similar situation, this information is VERY interesting.
With $100k down PFS was at $1800/mo 36mo 5k/year.
Amazon is $50k down $1650/mo 36mo 5k/year.
Amazon is very good. Literally 3 different people recommended them to me today, including my Porsche dealership.
With $100k down PFS was at $1800/mo 36mo 5k/year.
Amazon is $50k down $1650/mo 36mo 5k/year.
Amazon is very good. Literally 3 different people recommended them to me today, including my Porsche dealership.
So people can be helpful, why don’t you list the following and we can check your lease. Get this information with zero down:
- Sales price
- Capitalized cost
- Residual %
- MF
- Fees
- Miles
12-22-2018, 01:47 PM
#26
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.
12-22-2018, 01:56 PM
#27
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.
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.
12-22-2018, 02:07 PM
#28
Rennlist Member
8% is mob casino debt interest rate level, but I guess one advantage if you live in CA, for example, where sales tax is ~10%, you only pay sales tax on the ex-residual amount, so about a 5% savings from MSRP. Also, the option of buying at the end if market price > residual, otherwise the convenience of just dropping the car and keys somewhere is also an advantage. So lots of moving parts in a lease, I guess. The cost and advantage above are very personal, I believe.
12-22-2018, 02:18 PM
#29
Lower than 8% - more like 6.5% depending on your credit score. And it all depends what you do w/the funds available to invest. Doing nothing (e.g. money market) earns 2% now.
PFS is missing out on a lot of back end F&I - too bad for its dealers. Leasing effectively puts a fence around Dealers' existing customers - they are a lock to return to the dealership, and every 2-3 years to boot).
PFS is missing out on a lot of back end F&I - too bad for its dealers. Leasing effectively puts a fence around Dealers' existing customers - they are a lock to return to the dealership, and every 2-3 years to boot).
12-22-2018, 04:23 PM
#30
Platinum Dealership
Rennlist
Site Sponsor
Rennlist
Site Sponsor
PFS is forced to accept your car back in their structure. So, lend a stranger a GT3RS and he goes full TRAKCAR and tracks it 80x in 4 years...Porsche has to buy it back.
That is why you pay for a 300MF and a sub 45% residual.
Of course, there is no actual tax advantage to leasing a GT3RS...you are paying 7% interest minimum. Plus its a shaky argument for write offs.
Just do a loan! Own it- after 3 years you lose mileage related depreciation...who cares? On a GT3RS that's 50k max. So, it costs you ~3k a month for 60 months and 50k down. That's a good deal. (230 OTD for non weissach at msrp is not typical at every store but calculates well here)
That is why you pay for a 300MF and a sub 45% residual.
Of course, there is no actual tax advantage to leasing a GT3RS...you are paying 7% interest minimum. Plus its a shaky argument for write offs.
Just do a loan! Own it- after 3 years you lose mileage related depreciation...who cares? On a GT3RS that's 50k max. So, it costs you ~3k a month for 60 months and 50k down. That's a good deal. (230 OTD for non weissach at msrp is not typical at every store but calculates well here)