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View Poll Results: did you pay Cash Finance or Lease
Paid cash
62
53.91%
Financed
28
24.35%
Leased
25
21.74%
Voters: 115. You may not vote on this poll

did you pay Cash Finance or Lease

 
Old 03-07-2014, 12:27 PM
  #31  
parkerfe
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I have logged 20k+ miles per year on all my DDs over the last 2 decades; including my current 2012 991C2S with 31k+ miles and counting. While I do deduct my percentage of business use, I could never lease, as the excess miles costs would be more than its worth. Over that same period of time, I have paid cash for some and financed some, depending on various low interest deals over the years. My current DD is financed with my credit union at 1.7%.
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Old 03-07-2014, 01:45 PM
  #32  
MikeDi
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No trade...paid cash because my wife made me....
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Old 03-08-2014, 03:28 AM
  #33  
DAlex
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Cash only including proceeds of private party sale of 997,
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Old 03-08-2014, 03:40 AM
  #34  
Mercel
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Originally Posted by parkerfe View Post
I have logged 20k+ miles per year on all my DDs over the last 2 decades; including my current 2012 991C2S with 31k+ miles and counting. While I do deduct my percentage of business use, I could never lease, as the excess miles costs would be more than its worth. Over that same period of time, I have paid cash for some and financed some, depending on various low interest deals over the years. My current DD is financed with my credit union at 1.7%.
In most instances, the excess miles charged under the terms of the lease costs LESS than the mileage penalty from the guide books that deduct for high miles.

If you have unlimited cash, it's fine to purchase a car. It just doesn't make much sense given the advantages of leasing:

1. Cash flow
2. Factory guarantee against excessive depreciation (through the residual)
3. OPTIONS: You can buy at the end of the lease or walk
4. Credit rating gets a boost from leasing (more than financing)
5. Avoid negative equity in your vehicle.
6. In many states, you'll pay less in sales tax (at least in those states without a trade-in credit). On a cash or finance, you pay UPFRONT the sales tax. Not so in the case of leasing.

If you went to Vegas, would you like the casino to accept these terms of yours: Heads I win, Tails we tie? THAT is leasing. How? If you have equity in the vehicle (FMV > residual) at the end of the lease term, you buy the car and capture the equity. If not, you're not obligated to eat the deprecation (FMV < residual). We're all talking closed end leases, which is the norm (not like in earlier years with open end leases).

True story: I leased a BMW M3 with a bank. The lease residual was > than the FMV of the vehicle near the end of the lease. I offered to buy the car for $5,000 less than the residual amount (instead of walking). In effect, I received price protection under the bank's lease. You risk 100% of ALL depreciation if you pay cash or finance. Period.

The fact is, dealers do a TERRIBLE job presenting leasing. Too bad for them AND for customers.
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Old 03-08-2014, 12:47 PM
  #35  
gota911
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Mercel.

I am guessing that you also lease your house and "rent-to-own" your furniture.

Just having a little fun with a Newbie!

It is not intended to be detrimental in any way.
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Old 03-08-2014, 01:00 PM
  #36  
Mercel
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Hi Tim.

Actually, I own my home free and clear, which is consistent with "buy appreciating assets, lease depreciating ones." I have no debt, except for one vehicle lease nearing its term. In most cases, I've purchased my leased car at the end (36 months, typically).

People who say "I want to own my car" and then finance. News flash: You don't own it, the bank does. And if you finance and change your mind in 24-36 months, you'll likely be trapped with the negative equity that occurs in the early years.

Your cars looks like the 997 GTS I used to own. Great car (and sound). Cheers.
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Old 03-08-2014, 01:06 PM
  #37  
jbigelow
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Bought my 2011 GT3RS last year with $0 down and 7 years at 1.99% through my credit union

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Old 03-08-2014, 01:33 PM
  #38  
Team Plutonium
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Originally Posted by gota911 View Post
Mercel. I am guessing that you also lease your house and "rent-to-own" your furniture. Just having a little fun with a Newbie! It is not intended to be detrimental in any way.
It's all we have left to establish some sort of a hierarchy in terms of baller status, and who deserves and can really afford a 911. LOL!
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Old 03-08-2014, 01:42 PM
  #39  
Mercel
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Originally Posted by jbigelow View Post
Bought my 2011 GT3RS last year with $0 down and 7 years at 1.99% through my credit union

Not a bad option with the rate. The girl in your pic looks like a second sticker though.
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Old 03-08-2014, 02:03 PM
  #40  
LexVan
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Originally Posted by jbigelow View Post
Bought my 2011 GT3RS last year with $0 down and 7 years at 1.99% through my credit union

Did you require gap insurance?
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Old 03-08-2014, 04:49 PM
  #41  
Zohan
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Originally Posted by jbigelow View Post
Bought my 2011 GT3RS last year with $0 down and 7 years at 1.99% through my credit union

if it is a $100k car 7 years at 1.99% >>> just Interest adds up to $7,209.41 + fees, shmees and all the pain in the *** that goes with a loan.
http://www.bankrate.com/calculators/...alculator.aspx
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Old 03-08-2014, 05:12 PM
  #42  
Mercel
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Originally Posted by Zohan View Post
if it is a $100k car 7 years at 1.99% >>> just Interest adds up to $7,209.41 + fees, shmees and all the pain in the *** that goes with a loan.
http://www.bankrate.com/calculators/...alculator.aspx
It depends on how he invests the money he would have otherwise sunk into the car. A hurdle rate of 1.9% isn't too tough to beat.
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Old 03-08-2014, 05:33 PM
  #43  
genxr
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Originally Posted by Mercel View Post
It depends on how he invests the money he would have otherwise sunk into the car. A hurdle rate of 1.9% isn't too tough to beat.
^ This. When money is this cheap, there's no chance I'm using my own. I even put $5M of my purchase on a (rewards) credit card. lol. That was the max they would let me do.
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Old 03-14-2014, 06:47 PM
  #44  
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I wouldn't buy a Porsche if I couldn't pay cash. For me, these are not essential items. Helps that I keep my cars a long time. The newest addition will be with me 10 years minimum; the first P-car I've had 12 years and counting. I like bonding with my cars.

The debt-free life may not be the best way to leverage assets but I also know it's pretty hard to go bankrupt if you are debt-free.
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Old 03-15-2014, 03:23 AM
  #45  
flyingbird
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i could pay cash, but 1.55% rate was too attrative to pass.
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