991 GT3 leasing?
02-15-2015, 08:22 PM
#46
It's a shame it sounds like if (I) tear it up let someone else hold the damage goods vs. the responsible party. Leadsing the car has to be retuned in good working condition as the other poster said you will receive a bill. Good luck on your choice leasing based on your terms appears to be upside down. Why not buy the car, and take car of it and have some equity due to its a low volume car not your run of the mill Porsche.
02-15-2015, 08:27 PM
#47
Three Wheelin'
The final price here actually matters when comparing options. Your math is right if I were to purchase at the end. It will be a bit more than 180K. If I were to finance the car - 152K x 1.1 (for 10% including tax and etc in Los Angeles). It will be 167K plus the financing interest. Let's say I get 2% to 3% APR. Using 2.5% APR with 48 months (same as my lease term), the total will come out to be about 6 to 7K less than lease.
For that 6 to 7K difference, I was thinking first I already got 7k off MSRP. But the most important thing is that leasing gives me options, like if I end up swapping into a second year new nsx or a used 458 when its price drops even more, I would have saved more tax upfront. Plus, if I can sell the car for, let's say, 20K more than the residual (i.e. 60K), I would end up being positive. I seriously think my car will worth more than 60K 4 years down the road if I treat her nicely.
But all in all, I actually did not plan getting this car at all, and have not just walked into a dealer looking at a car without prior research for over a decade. So with this car, I think I did quite all right (especially I totally did not know how unrealistic my final price turns out to be after seeing the responses from this forum)
Lastly, this car is meant to be driven fast which implies higher likelihood of accidents. I don't want to be the one who takes the loss if I were to own it.
For that 6 to 7K difference, I was thinking first I already got 7k off MSRP. But the most important thing is that leasing gives me options, like if I end up swapping into a second year new nsx or a used 458 when its price drops even more, I would have saved more tax upfront. Plus, if I can sell the car for, let's say, 20K more than the residual (i.e. 60K), I would end up being positive. I seriously think my car will worth more than 60K 4 years down the road if I treat her nicely.
But all in all, I actually did not plan getting this car at all, and have not just walked into a dealer looking at a car without prior research for over a decade. So with this car, I think I did quite all right (especially I totally did not know how unrealistic my final price turns out to be after seeing the responses from this forum)
Lastly, this car is meant to be driven fast which implies higher likelihood of accidents. I don't want to be the one who takes the loss if I were to own it.
02-15-2015, 08:29 PM
#48
02-15-2015, 08:30 PM
#49
02-15-2015, 08:34 PM
#50
It's a shame it sounds like if (I) tear it up let someone else hold the damage goods vs. the responsible party. Leadsing the car has to be retuned in good working condition as the other poster said you will receive a bill. Good luck on your choice leasing based on your terms appears to be upside down. Why not buy the car, and take car of it and have some equity due to its a low volume car not your run of the mill Porsche.
You probably don't live at LA. I am talking about my car being hit on the locals by these middle aged asian females. They do not know how to drive, plus I don't care how much stereotypical or sexist that sounds because my wife agrees with me.
Heck, let's ask around to those who live in LA, and see how many agree with me about these middle age asian female driving. For them, I need to lease (okay that sounds so lame, hahaah)
Last edited by 3point9liters; 02-15-2015 at 08:59 PM.
02-15-2015, 08:42 PM
#51
Wow, very bias thoughts about a culture man. Yes, I lived in LA Palos Verdes and understand the drivers two accidents 24 years none my fault. Good luck either way you land.
02-15-2015, 08:59 PM
#54
17M people in LA county is truly a problem. I left in 2009 taxes too high, and too many people in one place. Love the weather thought, but not willing to subsidize the poor leadership called government. Back to car talk(:
02-15-2015, 09:37 PM
#55
Holy cow, 10% tax in LA? Why do people live there!
In NJ, its only 7%, plus if you trade a car, you only pay tax on the sale price minus trade price. In a lease, you also obviously pay tax on 3 years only.
So take my case for example. I traded my M3 before taking the M5, and because the trade price (not equity) exceeded leased amount, I paid no tax on my M5. How cool is that? I love NJ.
In NJ, its only 7%, plus if you trade a car, you only pay tax on the sale price minus trade price. In a lease, you also obviously pay tax on 3 years only.
So take my case for example. I traded my M3 before taking the M5, and because the trade price (not equity) exceeded leased amount, I paid no tax on my M5. How cool is that?
I love NJ.
02-15-2015, 09:39 PM
#57
GT3 player par excellence
Lifetime Rennlist
Member
Lifetime Rennlist
Member
SF about 9.5-9.75%
there a secret roads we drive on.....
there a secret roads we drive on.....
02-15-2015, 09:39 PM
#58
Burning Brakes
tax rates in CA vary per county. orange County is 8%. LA County is 9%. But very high taxes and we cant use a trade in as a credit. You are doomed to pay sales tax on the entire amount of the sales price. Unlike WA or other consumer friendly states.
02-15-2015, 09:40 PM
#60
PCH, and through the Santa Monica Mountains is always a nice drive. Also the back side of Palos Verdes is a good drive. Just not the 405(: Some nice driving through GA to NC, and beautiful in the spring and fall. Sorry man, but you do have the sun and taxes!
