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-   -   Leasing is for me, can I see exact PCNA terms somewhere? (https://rennlist.com/forums/991-turbo/1071047-leasing-is-for-me-can-i-see-exact-pcna-terms-somewhere.html)

victorc31 05-26-2018 10:51 PM

Leasing is for me, can I see exact PCNA terms somewhere?
 
Hi,

I've never leased a car so not too smart about it. But I need to put as little as possible down and keep the payments as low as possible. I don't mind paying off the balance at end of lease. I know I will pay for that option and I still haven't done the math. It's fascinating to me that the residual is excluded from the loan amount.

Does PCNA show specific terms (months, residual, etc,..) available for turbo or turbo s, or can I only get that at the dealer?

Thanks
Victor

ENCT 05-27-2018 06:17 AM

I have only been able to get it from the dealer. I believe each model is different. The money factors are horrible and the residuals are low. I lease as well and it is the price I pay to drive a Porsche. Also the programs change every month or so.
Eric

81911 05-27-2018 03:13 PM

Only from the dealer. What kind of payments are you hoping to achieve?

Elliott991TS 05-27-2018 03:21 PM

The lease quotes I received for the turbo s were so bad, it was better to take out a loan and purchase the vehicle, however I ended up paying cash

victorc31 05-27-2018 09:10 PM

Hi

I was hoping to stay around $600 to $800 monthly payment.

I've asked around a bit, looks like about 6% or more on the depreciation. That's not attractive after all. I only need to show low outlay for a year or so while I might apply for a mortgage, so maybe thats the answer, a shorter term lease with a larger down payment.

i took two big home equity lines last year for a porsche and to avoid a mortgage application and now they are not deductible anymore. That really threw off my plans.

Thanks for any suggestions.



ENCT 05-27-2018 09:46 PM

You will need to put down a ton to get to $600 a month.
Eric

ace37 05-28-2018 01:28 AM


Originally Posted by ENCT (Post 15038260)
You will need to put down a ton to get to $600 a month.
Eric

Agreed. My guess is you’d be looking at well over $50k down. It may also be difficult to find an open custom build slot at this point.

I haven’t seen actual rates in a while but last year for my TT purchase I asked. I forget the exact number but it was over $2500/month for the minimum mileage (5k/yr?) and at any lease term.

ace37 05-28-2018 01:58 AM

The most recent public data I could find hasn’t been updated - from back in 2015. Money factor was 0.002, and I think it’s higher now.
https://forums.edmunds.com/discussio...ease-questions

And from even farther back in 2014 Q4, the residuals were 57% for a TTS with 30 months at 5k miles/month.
https://forums.edmunds.com/discussio...-questions/p22

ENCT 05-28-2018 10:47 AM

.0028 now

81911 05-28-2018 01:11 PM

Why in the world do you think you can lease a Turbo or Turbo S (as you mentioned) for $600-$800 a month? You’re going to be closer to $3K-$3500 a month.

feh 05-28-2018 01:17 PM


Originally Posted by 81911 (Post 15039412)
Why in the world do you think you can lease a Turbo or Turbo S (as you mentioned) for $600-$800 a month? You’re going to be closer to $3K-$3500 a month.

yeah, $600-$800 a month is a lease for something valued at around $50,000. The Turbo S is close to $200,000 so you would have go pay around 4 times as much approximately. If not more due to interest. OP definitely needs to read leasing 101.

victorc31 05-28-2018 05:00 PM

If it has a residual of 100k and i put 50k down then i only pay depreciation and interest on 50k. The dealer showed me a couple of options to do that at around 1000 per month. I suppose thats not 600 to 800.

i was surprised to see that money factor stays the same no matter how long the lease, is that right?

Elliott991TS 05-28-2018 05:20 PM

I would estimate your monthly payment on a new turbo S with minimal (T&L) down would be around 3500/month for 36 months for 200k amount financed.

So you would end of paying 126,000 at the end of the lease or 36 months. (3500 x 36 = 126,000)

What ever you put down will in effect lower your month payment.

To get to 800 per month:

800 x 36 = 28,800

126,000 - 28,800 = 97,200

You would have to put down $97,200 to get to $800 per month

Why would you not keep your money in the bank and pay the higher monthly payment? Putting so much money down on a lease is risky. You don't own the car and if something happens to the car you are at their mercy, trying to get your money back.

ENCT 05-28-2018 05:35 PM


Originally Posted by Elliott991TS (Post 15039863)
I would estimate your monthly payment on a new turbo S with minimal (T&L) down would be around 3500/month for 36 months for 200k amount financed.

So you would end of paying 126,000 at the end of the lease or 36 months. (3500 x 36 = 126,000)

What ever you put down will in effect lower your month payment.

To get to 800 per month:

800 x 36 = 28,800

126,000 - 28,800 = 97,200

You would have to put down $97,200 to get to $800 per month

Why would you not keep your money in the bank and pay the higher monthly payment? Putting so much money down on a lease is risky. You don't own the car and if something happens to the car you are at their mercy, trying to get your money back.

+1

ace37 05-28-2018 06:10 PM

The OP mentioned it was related to a loan qualification and initially implied a heavy down payment was known to be a requirement.

Another option since you’d already have to put $50-100k down would be to consider exotic car financing companies. They offer absurdly long terms like 144 months at high rates like 7%. If the idea is to go with it for a year or two to fit your financial/cash requirements and then pay it off or refi it into a traditional auto loan rate it could make sense. You can just figure at $100k the loan costs you a grand a year for each 1%, or $14k over two years for the convenience. This could be cheaper than leasing in many scenarios - especially if you need the low payments for a term below 24 months. If possible, perhaps you do traditional financing, refi with a 120+ month term to qualify, and then write a check or refi again for a competitive rate when the process is over and it makes sense.

I would tend to wonder if it has to be this complex and creative perhaps it’s not the best time but this scenario doesn’t happen under traditional circumstances.

Best of luck.


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