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

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

 
Old 12-21-2018, 06:08 PM
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Aparsh
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Default 2019 GT3 RS Leasing - Anyone have experience in this? Money Factor?

Hey guys,
I have a local dealership with a GT3 RS that I'm interested in. I believe the deal they are giving me on the car is great ($10k over msrp).
They said the lease rates are "amazing" on these so i asked for a quote.
That being said, i was not impressed with the lease quote at all.
It came out to be $1816/mo with $100k down on a 3 year 5k mi year lease.
I asked what the money factor is and they said 0.00359, which translates to 8.6% interest rate, which is terrible. *Keep in mind, this was based on an assumption of good credit, they did not run my credit yet.
I said thats way too high and they said the standard rate is .0032 (7.68).
How can the standard rate be that high? Anyone have any experience here? I called Porsche FS and they said they dont have access to money factor information unlike every other manufacturer ive ever done business with.
Any help is appreciated.
Thanks
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Old 12-21-2018, 06:43 PM
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John Belk
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Originally Posted by Aparsh View Post
Hey guys,
I have a local dealership with a GT3 RS that I'm interested in. I believe the deal they are giving me on the car is great ($10k over msrp).
They said the lease rates are "amazing" on these so i asked for a quote.
That being said, i was not impressed with the lease quote at all.
It came out to be $1816/mo with $100k down on a 3 year 5k mi year lease.
I asked what the money factor is and they said 0.00359, which translates to 8.6% interest rate, which is terrible. *Keep in mind, this was based on an assumption of good credit, they did not run my credit yet.
I said thats way too high and they said the standard rate is .0032 (7.68).
How can the standard rate be that high? Anyone have any experience here? I called Porsche FS and they said they dont have access to money factor information unlike every other manufacturer ive ever done business with.
Any help is appreciated.
Thanks
One word. RUN!!!!!
$100K down on a lease, thatĺs absolutely ridiculous without question. Why not just finance it and have equity in the RS?
Makes no cents :-)
JB
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Old 12-21-2018, 06:49 PM
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PFS does not incentivize their leases as much as BMWFS, MBF, or even AudiF. Compared with other exotic car leases, it's about the norm.
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Old 12-21-2018, 06:55 PM
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If you live in California, check out Amazon Leasing. The expensive 911s lease very poorly through PFS.
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Old 12-21-2018, 07:04 PM
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Aparsh
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Well the $100k was something i had initially brought up because i was originally planning to finance it and said i'd put 100k down. If i was going to lease it i was hoping to do somethig more like $50k ish. But the lease is not really just to use it for 3 years, i would plan on buying it out after the 3 years but not have to have my payments as high for those 3 years. And then if something new and exciting comes out, either way i should have some good equity to put toward the next GT3 RS or whatever is exciting at that time.
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Old 12-21-2018, 07:17 PM
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Originally Posted by Serge944 View Post
If you live in California, check out Amazon Leasing. The expensive 911s lease very poorly through PFS.
Dude you are a rockstar. Thanks so much. I checked this out and the rates are wayyyyyy lower.
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Old 12-21-2018, 09:19 PM
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Do not lease a GT3!!! Buy and drive it and sell with little depreciation. This is one car you should not lease regardless what the money factor is.
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Old 12-21-2018, 09:26 PM
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Originally Posted by Rezus View Post
Do not lease a GT3!!! Buy and drive it and sell with little depreciation. This is one car you should not lease regardless what the money factor is.
I think you may be misunderstanding the concept of leasing.
It's literally the same thing as buying it, if you want it to be. No one in their right mind would actually turn the car back in at 3 years. They will buy it out.
It just keeps the up front costs lower on a car that does not depreciate like others.
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Old 12-21-2018, 09:28 PM
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Seems like that MF is marked up 0.001. And what is the cap cost (selling price)? Seems like it's marked up $40-50k. The dealer is trying to bend you over from all directions. Hope they at least include a reach around...
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Old 12-21-2018, 09:31 PM
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I would simply do long term financing
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Old 12-21-2018, 10:10 PM
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Originally Posted by Aparsh View Post
I think you may be misunderstanding the concept of leasing.
It's literally the same thing as buying it, if you want it to be. No one in their right mind would actually turn the car back in at 3 years. They will buy it out.
It just keeps the up front costs lower on a car that does not depreciate like others.
No I think you are misunderstanding the concept of the leasing. People lease because they don't want to buy the car at the end of lease as that almost always leads to paying more. If you want lower payments, finance for longer term
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Old 12-21-2018, 10:14 PM
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CA sales tax is over 9% no trade credits so that’s why a lot of CA peeps lease.
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Old 12-21-2018, 10:17 PM
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Besides 100k down is like paying rent upfront. If anything happens to the car that money is lost.
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Old 12-21-2018, 10:24 PM
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Originally Posted by Aparsh View Post
I asked what the money factor is and they said 0.00359, which translates to 8.6% interest rate, which is terrible.
I said thats way too high and they said the standard rate is .0032 (7.68).
I am not a leasing expert, but T+490 and T+580 both look like ****ing awful rates to pay for secured borrowing, unless there are massive tax savings somewhere or other advantages.
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Old 12-21-2018, 10:38 PM
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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.
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