Has anyone leased their GT3?

Have a 2016 on order

MF for 48 months: 0.00264
MF for 60 months: 0.00257

with a 48% residual after 4 years.

Looking to purchase the car after.

Curious as to what numbers others were able to obtain.

 

I didnt lease, so realize this isnt terribly helpful, but...

I hope youre running that thru a biz for a tax write off - 6% ish money (4 yrs) seems expensive! Not to mention the residual, ouch.

 

The money factor is outrageous!! I'm not even talking about the residual! Lol!
As mentioned if you don't have a business this is not the best way of buying that car. Financing might be your best option. Or save a little more.

 

If you have to lease (for tax write offs) try USBank.

If you are an individual and are going to purchase eventually, just find a cheap loan. Right now you should be able to get under 2% without much hunting, even for 7 year loans.

You could also look at penfed.org - their payment saver loans have payments lower than a lease, but it's a regular loan, with a balloon payment at the end. They only finance up to 100k, but their rates are great.

 

The lease was a 15K mile a year lease with the intent of putting it through the business for tax purposes. From my understanding some have been able to do a single pay option through PFS and ammortize the lease payments over 24 or 36 months.

 

Uncle sam pays 50% - all makes sense now. Sorry for taking the convo off track!

 

If you have a business, check with CPA to see how much you can write off. Then buy back at the end of the lease and keep or sell it.

This worked best for me due to tax situation. Money factor was bad but not as bad the tax savings.

 

Even at 50% off, that is a horrible cost of money. You can get a 3-year auto loan at 0.74%! Check Western Credit Union.

 

For example, a Penfed payment saver loan on a 2014 GT3 @ $150,000 is:

$50,000 down (+~$14,000 sales tax)
Payments of ~$1,000 per month for 3yrs
Final payment of ~$70,000

I will likely sell before 3yrs, and always have equity in the car so I can sell it or trade it anytime - which I find more convienient than a lease.

 

Like the penfed example.

Not trying to have a buy vs. lease debate, and of course their are tax considerations. But bottom line is that the market will guarantee a higher equity in the car than lease companies will recognize. Why tie up your cash in it? With credit union rates for auto loan or HELOC in the 2% range even for 7 yrs, etc., you can do better in your savings account. So I would just finance. As you probably know, you can still write off the part of the vehicle you "use" when you finance, etc. Not a CPA, but been there done that with my tax guy.

 

If you have appropriate business, the amount you can write off on lease vs buy is huge.

 

"huge" ?

Maybe I've got it wrong, remember incorrectly. And maybe some of this is by state. But if I recall, I was able to take the portion of my driving that was specifically work related (keeping in mind, this does not include commuting back and forth from office, etc., only related to client travel/work/etc). Lets call that 50%. So then I was able to take 50% of the monthly payment and apply an expense deduction rate against that 50% (cant remember rate). So I ended up being able to write off a portion of a portion of the payment. By the way, this was with a BMW, years ago. I would think that a GT3 would raise flags, but everyone has different business needs/expectations. I thought that this was the same on lease vs. buy, but maybe I am mistaken. For context of the example, I am a partner in a LLP.

In the end, I found it to be a lot of trouble with very little return, to go down this path vs. near 0% cost of money over the last few years. Even more so on GT3 vs. daily driver.