2019 GT3 RS Leasing - Anyone have experience in this? Money Factor?
12-27-2018, 04:48 PM
#31
Rennlist Member
Thread Starter
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
12-27-2018, 04:52 PM
#32
Rennlist Member
Thread Starter
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.
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.
12-27-2018, 05:01 PM
#33
Platinum Dealership
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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.
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.
12-27-2018, 05:36 PM
#34
Rennlist Member
With what information you’ve presented, it’s hard to see why you wouldn’t 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 isn’t that uncommon anymore.
For example, my CU would offer 3.74% for an 84 month term, payments of $13.55 per $1k borrowed. They’d want a total financed under $200k. If you put the larger $100k figure down and you’re 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.
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 isn’t that uncommon anymore.
For example, my CU would offer 3.74% for an 84 month term, payments of $13.55 per $1k borrowed. They’d want a total financed under $200k. If you put the larger $100k figure down and you’re 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.
12-27-2018, 05:50 PM
#36
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.
12-27-2018, 05:52 PM
#37
Rennlist Member
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.
12-27-2018, 05:53 PM
#38
Racer
JB
12-27-2018, 06:37 PM
#39
Rennlist Member
Thread Starter
An expensive truck is one thing, a sports car is another.
12-27-2018, 06:38 PM
#40
Rennlist Member
Thread Starter
I’m truly happy for you and that you’re getting into an awesome car!!! We all make decisions that work best for us in our particular slice of time and it sounds like you’re doing exactly that. Keep working hard and in years to come you’ll walk into a dealership with your checkbook in hand with the only challenge being what model, color and options you want. It’s a great place to be in life....mostly everything else is just noise.
JB
12-28-2018, 12:26 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 — by far — 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 HELOC’s which always lure buyers, but they don’t 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 — if done correctly and if your intent is short-term ownership on GT cars.
If you plan on short term ownership, leasing is — by far — 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 HELOC’s which always lure buyers, but they don’t 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 — if done correctly and if your intent is short-term ownership on GT cars.
12-28-2018, 02:32 AM
#43
There is a lot of very bad information in this thread.
If you plan on short term ownership, leasing is — by far — 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 HELOC’s which always lure buyers, but they don’t 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 — if done correctly and if your intent is short-term ownership on GT cars.
If you plan on short term ownership, leasing is — by far — 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 HELOC’s which always lure buyers, but they don’t 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 — if done correctly and if your intent is short-term ownership on GT cars.
12-28-2018, 02:58 AM
#44
GT3 player par excellence
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u have to FINISH the lease u don’t 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
12-28-2018, 03:00 AM
#45
GT3 player par excellence
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There is a lot of very bad information in this thread.
If you plan on short term ownership, leasing is — by far — 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 HELOC’s which always lure buyers, but they don’t 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 — if done correctly and if your intent is short-term ownership on GT cars.
If you plan on short term ownership, leasing is — by far — 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 HELOC’s which always lure buyers, but they don’t 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 — if done correctly and if your intent is short-term ownership on GT cars.
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 isn’t. I much rather just get car loan instead of heloc on cars.