991 GT3 leasing?
#31
Rennlist Member
Then why dont we see GT3s costing half of what they did in 3 years? The 2013s I see in the used market even as high as 10k miles go for ridiculously high prices. If the current used market is to be taken as a source, then the two year residual should be over 85-90%. It sucks because if they had good lease programs they would make the car accessible to more people financially and I think as Porsche they would make more money in the end. Its win win situation. I dont think this is due to tracking though because I havent seen a Porsche with a normal lease program (normal being something comparable to bmw, merc, or audi). See my panamera example, they have terrible programs.
Also, there were no 2013 GT3's. The 991 GT3 was released in 2013 as a 2014 model.
#32
Rennlist Member
I think production volume has more to do with this than anything. It is a relatively low production, highly desirable car that is historically purchased as a weekend fun car, so Porsche has no benefit in offering a lease deal on this car. For them the low residual works. If it were a higher production car, you would see Porsche find more ways to move the product. Since they have no trouble selling each and every one, there is no need. Also, there were no 2013 GT3's. The 991 GT3 was released in 2013 as a 2014 model.
#33
Three Wheelin'
I think production volume has more to do with this than anything. It is a relatively low production, highly desirable car that is historically purchased as a weekend fun car, so Porsche has no benefit in offering a lease deal on this car. For them the low residual works. If it were a higher production car, you would see Porsche find more ways to move the product. Since they have no trouble selling each and every one, there is no need.
Also, there were no 2013 GT3's. The 991 GT3 was released in 2013 as a 2014 model.
Also, there were no 2013 GT3's. The 991 GT3 was released in 2013 as a 2014 model.
Last edited by sccchiii; 02-15-2015 at 04:17 PM.
#34
Burning Brakes
Since the Asian market opened up i.e China the north American allocation has been cut dramatically. The "days supply" rule does stand, however I am not sure we will ever see as many Porsches in NA like we did 3 years ago. An example is there are only 11 Boxsters left in CA. Unless Porsche opens another factory, they are pretty much tapped out on production capabilities.
#35
I leased mine at 0.002. 48 months. 12K miles/yr. Residual is standard by the book. 2500/month including tax. I leased because 1) if the car is in the accident, the loss is not mine (plus Porsche pays the gap insurance anyway. 2) if some other crazy cars come out, I will have options to swap without losing too much paid tax money up front. 3) My residual pay off at the end of the lease is like 60K plus, which I am pretty sure if I sell it, I can sell it more than 60K. 4) some minimal write off
reasons for 4 years is because I was assuming the .2 will be out then...lol
reasons for 4 years is because I was assuming the .2 will be out then...lol
#36
GT3 player par excellence
Lifetime Rennlist
Member
Lifetime Rennlist
Member
Then why dont we see GT3s costing half of what they did in 3 years? The 2013s I see in the used market even as high as 10k miles go for ridiculously high prices. If the current used market is to be taken as a source, then the two year residual should be over 85-90%.
It sucks because if they had good lease programs they would make the car accessible to more people financially and I think as Porsche they would make more money in the end. Its win win situation.
I dont think this is due to tracking though because I havent seen a Porsche with a normal lease program (normal being something comparable to bmw, merc, or audi). See my panamera example, they have terrible programs.
It sucks because if they had good lease programs they would make the car accessible to more people financially and I think as Porsche they would make more money in the end. Its win win situation.
I dont think this is due to tracking though because I havent seen a Porsche with a normal lease program (normal being something comparable to bmw, merc, or audi). See my panamera example, they have terrible programs.
and one that keeps coming up.
actuarial
world economics
local economics
politics
fed rates
currency issues
the last mezger scare
risk of track and crash gt
together they create high residual, high used prices.
this may never happen again.
leasing pmt on gt car is always higher than financing, even though u pay full sales tax on finance.
if u are out shopping it's cheaper to finance ( ca anyways, sales tx is 10%)
if u lease, u avoid some risks d can get out if u have finished value or u may have tax benefit to write off. but for those benefit , u will have to pay for it, thus lease out higher.
in past leasing is attractive, especially BMW, only bc manufacturers subsidized it
#37
I leased mine at 0.002. 48 months. 12K miles/yr. Residual is standard by the book. 2500/month including tax. I leased because 1) if the car is in the accident, the loss is not mine (plus Porsche pays the gap insurance anyway. 2) if some other crazy cars come out, I will have options to swap without losing too much paid tax money up front. 3) My residual pay off at the end of the lease is like 60K plus, which I am pretty sure if I sell it, I can sell it more than 60K. 4) some minimal write off
reasons for 4 years is because I was assuming the .2 will be out then...lol
reasons for 4 years is because I was assuming the .2 will be out then...lol
#39
Still though, the 4.8% cost of money there for borrowing the residual value of the car for 4 years isn't cheap. And you've paid tax on 50% of the car. You're still banking on the car being worth more than residual after the lease period, so you get kind of screwed if you have an accident that drops the value substantially still, no?
I leased mine at 0.002. 48 months. 12K miles/yr. Residual is standard by the book. 2500/month including tax. I leased because 1) if the car is in the accident, the loss is not mine (plus Porsche pays the gap insurance anyway. 2) if some other crazy cars come out, I will have options to swap without losing too much paid tax money up front. 3) My residual pay off at the end of the lease is like 60K plus, which I am pretty sure if I sell it, I can sell it more than 60K. 4) some minimal write off
reasons for 4 years is because I was assuming the .2 will be out then...lol
reasons for 4 years is because I was assuming the .2 will be out then...lol
#40
Burning Brakes
Reason to lease gt car is because of tracking risks. Once car is damaged, there goes value if its owned. So leasing is like a type of track insurance. If not damaged and leased, then just sell it privately for more than the buy out value and pocket the difference. Its what i did and it made up for the horrible lease term i had to endure.
and if you dont track then dont bother with a gt car
and if you dont track then dont bother with a gt car
#41
Reason to lease gt car is because of tracking risks. Once car is damaged, there goes value if its owned. So leasing is like a type of track insurance. If not damaged and leased, then just sell it privately for more than the buy out value and pocket the difference. Its what i did and it made up for the horrible lease term i had to endure.
and if you dont track then dont bother with a gt car
and if you dont track then dont bother with a gt car
#42
Well, as far as lease is concerned, selling price doesn't matter much. At the end of 48 months, if you want to own your car, your out of pocket costs are :
48 * 2500 + 60k = 180k.
If you were to buy it outright, including taxes, you'd pay around 162k. So leasing has cost you 18k. Isn't that a lot?
48 * 2500 + 60k = 180k.
If you were to buy it outright, including taxes, you'd pay around 162k. So leasing has cost you 18k. Isn't that a lot?
#43
Burning Brakes
Leasing no bueno for track GT3. If it is damaged PFS will hunt you down for damages. I have seen some crazy bills sent to people by PFS. FULL RETAIL+++ for reconditioning cost.
#44
Well, as far as lease is concerned, selling price doesn't matter much. At the end of 48 months, if you want to own your car, your out of pocket costs are :
48 * 2500 + 60k = 180k.
If you were to buy it outright, including taxes, you'd pay around 162k. So leasing has cost you 18k. Isn't that a lot?
48 * 2500 + 60k = 180k.
If you were to buy it outright, including taxes, you'd pay around 162k. So leasing has cost you 18k. Isn't that a lot?
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.
#45
of course, if I return the car damaged. I am talking about after the car is repaired by insurance. PFS should not be able to hunt me for damages if the porsche-approved shop paid by the insurance co has already repaired it up to spec. Then I should be able to just return the car at the end of the lease. Or better yet, walk into carmax, and see what deal I get after the car is repaired.