Current Rates?
#31
Nordschleife Master
I know that sometimes it's complicated. But in this case I just don't see how it is. 50% residual and high money factor vs 1.9-2.9 rates on 60 to 72 months financing. Or 1.29-1.59 ish on 36 month. I understand the tax and write off opportunities for business, but for this car I'm just not sure how the math gets you there...
#32
Have you checked with your insurance company on this? When I was considering a prepay, I checked with mine and they told me specifically that prepaying lease rental fees leaves me exposed financially if the car were to be a total loss as they would only cover any out of pocket expenses to walk away from the lease (not repayment of any future lease payments).
Different insurers may vary.
Different insurers may vary.
It doesn't matter what you put down, your insurance company should cover the total appraised value of the car, mileage, year and so on. Regardless of a one pay lease or if you finance with a large down payment. They are all basically rentals until you have the pink. I saved a little money doing the one pay vs. large monthly payments on a 24 month lease. This is what my insurance company covers in the unfortunate event of a totaled car.
#33
Racer
Have you checked with your insurance company on this? When I was considering a prepay, I checked with mine and they told me specifically that prepaying lease rental fees leaves me exposed financially if the car were to be a total loss as they would only cover any out of pocket expenses to walk away from the lease (not repayment of any future lease payments).
Different insurers may vary.
Different insurers may vary.
What insurance company do you have?
#34
That would make sense. I don't recall exactly what insurance company I had at the time I checked, but it was probably AAA. I may just have to check with the again now that I'm curious!
#35
Burning Brakes
Hey guys allow a dumb Brit to ask a U.S. financial question. Can you get other financial establishments to lease the car to you? In the same way you can shop around for a loan can you look to other companies other than Porsche financial to work a lease for you?
The beauty of a lease is that it allows you to drive a vehicle that you ordinarily wouldn't be able to afford but not sure if you have the option when leasing to shop around? Txs.
The beauty of a lease is that it allows you to drive a vehicle that you ordinarily wouldn't be able to afford but not sure if you have the option when leasing to shop around? Txs.
#36
Racer
Hey guys allow a dumb Brit to ask a U.S. financial question. Can you get other financial establishments to lease the car to you? In the same way you can shop around for a loan can you look to other companies other than Porsche financial to work a lease for you?
The beauty of a lease is that it allows you to drive a vehicle that you ordinarily wouldn't be able to afford but not sure if you have the option when leasing to shop around? Txs.
The beauty of a lease is that it allows you to drive a vehicle that you ordinarily wouldn't be able to afford but not sure if you have the option when leasing to shop around? Txs.
#38
Burning Brakes
There are a few banks who lease daily commuter cars like Toyotas, Hondas, Nissans, etc... US Bank, Chase (Jag's and Mazda captives as well) and few others but for the most part only the OEM's lease their own cars. Toyota Financial, American Honda, Nissan Motor Acceptance, MBFS, BMFS, PFS... and they dont cross pollinate via brands. Its almost impossible to get a non captive high line lessor but there are a few like Putnam, Premier, and Woodside but these are open ended lease banks so in effect the loans are really balloons because you are responsible for the buyout.
#39
Have you checked with your insurance company on this? When I was considering a prepay, I checked with mine and they told me specifically that prepaying lease rental fees leaves me exposed financially if the car were to be a total loss as they would only cover any out of pocket expenses to walk away from the lease (not repayment of any future lease payments).
Different insurers may vary.
Different insurers may vary.