Rolando

I'm considering leasing a 991S with PDK, fairly well equipped. MRSP is around $123,000. Is anyone aware of the lease terms for the 991? Hopefully the residual is strong. I'm looking to put down $10,000, 48 month term, 10,000 miles/year.

greenie

Rolando, you are probably in the neighborhood of $1150/mo. The residuals for this model seem to be rather strong even with a term of 48 months. If you could swing a 24 month lease, I bet the residuals would approach 70%!!!! Better not to put down so much money on a lease. If the car were totaled in an accident, the down $$ is gone. Plus you could probably use the money in a better way.

Boxster in my Future?

Rolando,

This isn't meant to sound sarcastic... but how about you talk with your dealer about this and let us all know what you find out!

Doug

Rolando

Doug, fair point. I've done just that. Here's what I got back:

1. 48 mos lease, $5000 down, 10,000 miles/year: payment of $1,768/mo. Reflects a residual value of 51.0%, and a lease factor of 0.0024, or an effective interest rate of 5.76%

2. 36 mos lease, $5K down, 10k /year: payment of $1984. Residual of 58.0%

I was hoping for a better residual and for a lower interest rate. I can get 2.74% through BofA for a purchase. That's the direction I'm leaning.

blk on blk

i simply cannot imagine spending almost 80 to rent a car for 3 years. this seems like a purchase all the way. wow.

Keadog

Last time I looked, PennFed was 1.99% for up to 60 months and max of $70k. They used to be up too $100k, which was even better.

Baggerdude

I pretty much always 'rent' (lease) my vehicles. Seems to cost me about 1/2 the purchase price per month and allows me to easily get into another car in
2-3 years. I like that.

What I don't like is paying the money in and watching it evaporate. But, that's what renting is all about. Wether you rent an apartment or lease a condo ... you will never build any equity and never own it. You have to plunk down your dollars and pay to own.

I don't really like that option either.

I gotta admit ... I like a new, fresh car every few years. I love my '09 Turbo and it runs and looks terrific. But, even tho I have less than 15K miles on this car after nearly 3 years ... I want a new car.

Then there's the case of the (nearly) totally new car ... the 991. Discounts may not be given early. The car may have 'teething problems'. And, the car is somewhat polarizing design-wise on several fronts (IMO).

I've tried buying my vehicles. Then trading them in a bit before (or after) the buy is done. I'm not sure what I have accomplished. In the case of my Turbo .... in 39 months, I would have spent a great deal over leasing for the same period. And, What would I get in return? I am not sure.

A car that I want to trade in on another? I'd have to buy again ... otherwise, I'd just be monthly rent and lose the equity.

WCE

Leasing or buying, early depreciation is going to suck much of the purchase price "investment" right down the drain. Psychologically, at these price levels - if you can afford it, it's much easier to write one check than be reminded of an excessive purchase on a monthly basis, even knowing your money may do better elsewhere. And remember those residuals are more indicative of the selling price, not trade in value. These cars very nearly depreciate at the same rate as much less expensive alternatives, so unless it's truly a long term purchase you really pay to play.

tgcrun

Not to get into the leasing vs buying debate, but what do you think it's going to cost to own the car for three years? If you buy it for 123 plus tax and sell it for 70 in three years, the cost is around 60. Add to that the opportunity cost on the cash you laid out to purchase the car (Where I live I can buy a small condo for that and rent it out for at least a 5% return), and you're pretty darn close to 80.

rodsky

Or buy a 2009/2010 C2S for $75-80K and just own it

51% residual seems pretty low. Not sure thats a great lease deal. Both interest rate and residual.