LOL You put your 991 into shock with all those miles, given the paltry 2700 miles at purchase.

 

I disagree. I have a household income sig. higher than the average Porsche owner amount listed. I buy my exotics with cash as I often keep them longer than three years, but lease my daily driver Porsche cars as I like to change them often.

 

Congratulations at arriving at that point.

I hope I'm not diverting the thread topic by saying, in the universe I mentioned, I'm inclined to think that you are what statisticians refer to as an "outlier."

 

On the high end certainly but I'm not sure statistically speaking that would be an outlier scenario - I'd expect the mean income to be quite a bit higher than the median, and it sounds like that's around +/-$400k.

Buying toys for cash is reasonable. Others might finance for liquidity but not out of need.

 

Selling Porsche's for cash does not seem to be where Porsche dealers are at. Dealers go to where they think the customer is at financially. Go to any Porsche dealers website and you'll find his financial "come on" under the "special deals." And they're all lease deals. Not cash deals, not finance deals. That, to me, indicates most of his cars are lease sales. So much so that when you do a cash deal, it's like you're talking a foreign language to the SA as well as the finance guy doing the paper work.

To me, the trend seems clear. The interesting question is: if the purpose of the buyer is to rent a car (which, at it's core, is what a lease deal is) to enjoy and be seen in the car, does the buyer understand what the true cost is he's paying for that experience. That's a piece of news that's hard to find.

 

This thread got me briefly entertaining the notion of a 991.2 upgrade via lease...until I remembered my last Porsche lease.

Not only are the miles low (and expensive when you exceed them) the car basically has to be _perfect._

Windshield chips? Paint chips? Wear marks on the leather? All your problem.

I decided to dispose of my leased Boxster S at Carmax rather than face these charges, and came out ahead.

 

2 Prius???? What the h**l were you thinking? Nice stuff.

 

If what you post is typical, then they get everyone on a lease because I can't believe that anyone can put 20K+ miles on a car and not have paint and windshield chips. Maybe the expectation is that it's a piece of art that should be kept in the garage and admired but not driven.

 

Exactly. If you plan to actually use the car rather than admire it in the garage, a lease is a bad deal.

Not to mention the mileage caps - mine was a 12k/year lease with .30 mile charges. It was a joy to drive so I blew my cap out of the water.

No regrets though, Carmax you rule.

 

I like the car ADHD idea. And with deep enough pockets, the disease manifests with serial new Porsches and other hot cars.

What about serial spouses?

 

I don't understand leases.

Not for the usual rent-vs-buy reasons. I mean, the last time I saw actual figures, you could buy the car for the price of the lease.

For example, Porsche Fairfield has a 2017 C4S cab, new with 130 miles on the clock. MSRP $154k, asking $139k (yeah, 2018's are coming). Right beside the photo it has the purchase (via loan) and lease terms.

$2,042 / month, $13,892 at signing buys the car. 6 years at 5.49%.
$1,972 / month, $17,407 at signing gets you a 3 year lease.

That extra $3,500 up front makes the tiny $70 / month savings of the lease pointless. You pay more for the lease over 3 years, including the up front fees, than you do for purchasing the car outright.

Granted, that's some sort of oddity, looking at their other quotes, leasing is usually $200 / month cheaper, not $70. Still, it's typically a 10% lower monthly payment, which doesn't seem like enough of a discount. Aren't leases about the case where the monthly car payments on a loan are out of reach?

 

Porsche a few years back ran some ridiculous low mileage short term leases, 24-27 months at insane residuals. Lease payments with no money down were shockingly low if the car wasn't too loaded with options. Combine that with Porsches generous 12 month lease pull aheads, and viola... I was getting a new car every 12-15 months. Many people I know took advantage of this repeatedly. nothing wrong with the cars, just recycled them for new ones.

At end end of the day, if car is CPOd I could care less how many times owned. If it's a long term keeper I would not buy one that wasn't CPOd. Cheapest warranty around. Good luck!

 

I remember seeing 991.1 base Carrera lease offers for $999 a month with something down. Can't remember how much cash they wanted but if you could negotiate the down payment away through a discount on a demo or lot car that lease option looked pretty compelling.

I was looking at the cost to lease vs buy and decided to buy a TT and keep it longer for similar money to doing two consecutive CS leases. Both options had some benefit but I wanted to own a turbo at some point and this was a good time.

My CU and others offer rates under 2% for 72 month loans - the 5.49% offer is insanely expensive money.

 

I guess I just keep my cars longer. I usually buy what I like and drive the wheels off it.

My '02 M5 now has 147K miles and I'm still keeping it until it dies.
My '99 Corvette has 116K miles and I was going to keep it. I wrecked it at the race track, so I'm now looking to replace it with the 911.
I just sold my 17 yr old Honda CBR because I hadn't ridden it much in the almost 4 years I've had my BMW motorcycle.
The SUVs get changed out more frequently because they're what my wife drives.

Was just a thought. Thanks for all the varied responses.

 

I don't blame you. That car, to me, is timeless.