malmasri

Anyone leased a GT3 with PFS , what is the residual value that you were given after a standard 3 year lease ?

joejenie

IIRC, the residual value was around 50% when I looked at it. It's not a great lease. There has been a lot of discussion on this forum.

Palting

I looked into having my corporation lease the car, then I would buy it at the end of lease. I'll have to look at the paperwork again to give you the exact residual, but it's not a good deal at all, even with the tax break. I ended up buying the car outright.

The Pope

In November '18, the residual was 50% for a 42 month lease and 5000 miles per year. Check with your dealer for current numbers.

malmasri

Knowing that it was not a good lease with a high money factor, I have already leased the GT3T for my own reasons...not looking for advise on that, I am just trying to see what others that have a current lease had as a %residual . TIA

joejenie

You made me curious today, so I checked with Amazon Leasing. $245k sticker. 12k down (2400 cap cost reduction, 2100 license and fees and 1st and last months payments up front). 60 month lease 2k miles a year was $3550 a month including sales tax at 7.8% for me. Residual at the end of the 60 months was 120k. Over that 60 months, I would be 40k better off to finance at 5% at similar no money down numbers (trying to be apples vs apples). Payment was actually $100 less a month on a 84 month loan (long term to make the payment look similar). Basically at 60 months on a $245k loan, you would still owe 78k. Maybe it would make sense if you could write off the lease payment in your business, but I think that's a scary proposition (at least for me since I'm a homebuilder and they might see a 3RS as a bad job site truck. haha

surfer

Both the OP's and above leases are horrible.

Expensing a $250K car as business would be a red flag for an audit and the time/money/psychological stress even if you passed wouldn't be worth it IMO.

Norcalgt3

What kind of lease is 2k miles per year for $3500 a month? That's like $20 per mile LOL.

konaforever

At least you can beat on it and not worry about resale!

joejenie

Not a very good one! haha. They know that at the end of the lease, you would be buying it, so the miles don't make much difference. We would all buy a 5 year old 3RS for $120k today (residual at the end of the lease). Still not a great deal. .

malmasri

surfer

Nice. Why don't you post Cap cost, Residual value, Lease fees, Terms of lease and Money factor so we can better advise you?

malmasri