Short Term Lease
07-25-2012, 06:00 PM
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Short Term Lease
Called PCNA about a lease and they told me to contact a Porsche dealership.
Before I do that. Never done a lease before.
Does Porsche or a 3rd party offer a 1 or 1 1/2 year lease?
Looking at a base 991 coupe, lighly optioned, 5-10K miles per year, no or low down payment, monthly payments or full funds up front.
Who pays the property tax, sales tax, insurance?
Has anyone ever done a 1 year lease?
Before I do that. Never done a lease before.
Does Porsche or a 3rd party offer a 1 or 1 1/2 year lease?
Looking at a base 991 coupe, lighly optioned, 5-10K miles per year, no or low down payment, monthly payments or full funds up front.
Who pays the property tax, sales tax, insurance?
Has anyone ever done a 1 year lease?
07-25-2012, 06:42 PM
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One year leases tend to be expensive as you have to take the initial depreciation and tax hits, and they are amortized over a shorter period.
I'm not sure about the other other up front costs as I always pay cash for my cars. My guess is you pay for it all whether up front or rolled into the payment.
I'm not sure about the other other up front costs as I always pay cash for my cars. My guess is you pay for it all whether up front or rolled into the payment.
07-25-2012, 07:02 PM
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Sales tax, insurance and personal property tax are all your responsibility. Sales tax in CT wil be collected BY Porsche financial as 7% on top of monthly payment amount. Your town will bill Porsche for the property tax and they will bill it back to you. You are own your own for insurance and will need to provide Porsche with proof of coverage for the lease duration.
07-25-2012, 11:36 PM
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I bought the first 991 in my city, after the two launch vehicles. It was a 991s, stickered for 110k. I had the car for 2 months and 1,500 miles and had tire problems with the new tires going flat.
I don't know if this helps with a real world calculation, but car stickered for 110,000. I bought it for 107,000. After 2 months, they bought it back for 96,500.
I would estimate a 1 year lease at MINIMUM has to include 20,000 depreciation. Plus the factoring. I would not be surprised even with low miles you may be talking $2,500 a month, perhaps even $3,000 a month to get a company to write it. I do not believe Porsche will do a 1 year lease.
I know you may want to save some taxes by prorating the taxes on only the lease payment verus purchase, and also know you'd like to have the gtd, buy back in place of the function of the lease.
Don't think you can do it, but believe they will do a 2 year.
I don't know if this helps with a real world calculation, but car stickered for 110,000. I bought it for 107,000. After 2 months, they bought it back for 96,500.
I would estimate a 1 year lease at MINIMUM has to include 20,000 depreciation. Plus the factoring. I would not be surprised even with low miles you may be talking $2,500 a month, perhaps even $3,000 a month to get a company to write it. I do not believe Porsche will do a 1 year lease.
I know you may want to save some taxes by prorating the taxes on only the lease payment verus purchase, and also know you'd like to have the gtd, buy back in place of the function of the lease.
Don't think you can do it, but believe they will do a 2 year.
07-26-2012, 10:55 PM
#5
Rennlist Member
I suspect no one does a 12mo lease. The shortest I've ever seen is 24mo... and typically 36mo is the average. Of course, some do 48 and 60mo leases.
