Prices are astronomical for 2017 Porsche
06-29-2016, 08:01 PM
#46
Rennlist Member
my two cents
buying a brand new car (any expensive brand new car) is a VERY expensive proposition from a depreciation perspective ...notable exceptions being selected limited supply/GT3 cars that hold their value atypically well... generally a 2-3 year old car is the sweet spot, as it is almost new (if well cared for by the first owner), still modern, and generally still under OEM warranty (or certified) but well off the new car price (usually by 25-30-35%, and very expensive options bought new are not well-valued in the used car price)
on top of that is the reality that leasing a car is additionally expensive... the fact is you are using someone else's money to buy the car and you are paying for the cost of using that money... there are details about residuals and money factors but they just determine HOW exorbitant is the additional cost...
third, porsche AG are master capitalists and as such they are truly expert and removing the green stuff from your wallet and bank account, so they price aggressively (base AND options) fully knowing if you want a porsche you will settle for little else
as i look at it, if at the present time you can't afford to pay cash for a luxury item like a new porsche, you really shouldn't have one... work harder, save money, invest wisely, build your career... then buy the porsche when you can just write a check or send a wire for the full amount and drive it away
buying a brand new car (any expensive brand new car) is a VERY expensive proposition from a depreciation perspective ...notable exceptions being selected limited supply/GT3 cars that hold their value atypically well... generally a 2-3 year old car is the sweet spot, as it is almost new (if well cared for by the first owner), still modern, and generally still under OEM warranty (or certified) but well off the new car price (usually by 25-30-35%, and very expensive options bought new are not well-valued in the used car price)
on top of that is the reality that leasing a car is additionally expensive... the fact is you are using someone else's money to buy the car and you are paying for the cost of using that money... there are details about residuals and money factors but they just determine HOW exorbitant is the additional cost...
third, porsche AG are master capitalists and as such they are truly expert and removing the green stuff from your wallet and bank account, so they price aggressively (base AND options) fully knowing if you want a porsche you will settle for little else
as i look at it, if at the present time you can't afford to pay cash for a luxury item like a new porsche, you really shouldn't have one... work harder, save money, invest wisely, build your career... then buy the porsche when you can just write a check or send a wire for the full amount and drive it away
06-29-2016, 08:03 PM
#47
Racer
Thread Starter
Folks, unless you're getting a business tax deduction, leasing via PFS is a *bad* option - and I say that as someone currently leasing a 2017 through PFS. The interest rate is 4.8% on the lease - in a low interest rate environment! Yes, the residuals are fairly solid when compared to MBZ and BMW; however, the lack of much movement from MSRP (5-6% in most cases) in combination with the high MF makes the lease less than compelling without a writeoff. If I wasn't writing off, buying the car at 1.99% money (or better yet, buying a 991.1 CPO) makes much more sense.
That being said, my car has a ~$125k MSRP, and with buy rate on the MF plus my discount (and including the residual bump for the prepaid maintenance), my payment is under $1500/month including tax. No cash down other than first month, fees, and prepaid maintenance.
At the end of the day, driving a new-model Porsche will never make good financial sense...you'll never be able to justify it or call it a steal. It'll never be a more sensible deal than what you can get from a number of other marques ($599 Ghibli leases, etc). It's an emotional decision - and I guarantee you that when you're behind the wheel, the last thing on your mind is the poor finances of the situation.
That being said, my car has a ~$125k MSRP, and with buy rate on the MF plus my discount (and including the residual bump for the prepaid maintenance), my payment is under $1500/month including tax. No cash down other than first month, fees, and prepaid maintenance.
At the end of the day, driving a new-model Porsche will never make good financial sense...you'll never be able to justify it or call it a steal. It'll never be a more sensible deal than what you can get from a number of other marques ($599 Ghibli leases, etc). It's an emotional decision - and I guarantee you that when you're behind the wheel, the last thing on your mind is the poor finances of the situation.
Update from another dealership.
4% off of MSRP.
$6000 due at delivery
7.5k a year
30 months lease
$1964.13 per month
RV 66%
Disclosure - I have a better price from a leasing company here in New York. Waiting to hear back from 2 other leasing companies.
Will keep you all posted - I am learning a lot here.
06-29-2016, 08:06 PM
#48
Racer
Thread Starter
my two cents
buying a brand new car (any expensive brand new car) is a VERY expensive proposition from a depreciation perspective ...notable exceptions being selected limited supply/GT3 cars that hold their value atypically well... generally a 2-3 year old car is the sweet spot, as it is almost new (if well cared for by the first owner), still modern, and generally still under OEM warranty (or certified) but well off the new car price (usually by 25-30-35%, and very expensive options bought new are not well-valued in the used car price)
on top that is, leasing a car is additionally expensive... the fact is you are using someone else's money to buy the car and you are paying for the cost of using that money... there are details about residuals and money factors but they just determine HOW exorbitant is the additional cost...
third, porsche AG are master capitalists and as such they are expert and removing the green stuff from your wallet and bank account, so they price aggressively (base AND options) knowing if you want a porsche you will settle for little else
as i look at it, if at the present time you can't afford to pay cash for a luxury item like a new porsche, you really shouldn't have one... work harder, save money, invest wisely, build your career... then buy the porsche when you can just write a check or send a wire and drive it away
buying a brand new car (any expensive brand new car) is a VERY expensive proposition from a depreciation perspective ...notable exceptions being selected limited supply/GT3 cars that hold their value atypically well... generally a 2-3 year old car is the sweet spot, as it is almost new (if well cared for by the first owner), still modern, and generally still under OEM warranty (or certified) but well off the new car price (usually by 25-30-35%, and very expensive options bought new are not well-valued in the used car price)
on top that is, leasing a car is additionally expensive... the fact is you are using someone else's money to buy the car and you are paying for the cost of using that money... there are details about residuals and money factors but they just determine HOW exorbitant is the additional cost...
third, porsche AG are master capitalists and as such they are expert and removing the green stuff from your wallet and bank account, so they price aggressively (base AND options) knowing if you want a porsche you will settle for little else
as i look at it, if at the present time you can't afford to pay cash for a luxury item like a new porsche, you really shouldn't have one... work harder, save money, invest wisely, build your career... then buy the porsche when you can just write a check or send a wire and drive it away
It's not about the ability to afford it in cash - in full - it's about the best financial decision taking everything into consideration.
Just my own opinion of course.
06-29-2016, 08:51 PM
#49
On the other hand, I use protection so I don't have some snotty kid's college bills to worry about.
06-29-2016, 08:59 PM
#50
Racer
Thread Starter
Yeah totally. What is stupid is worrying about money so much that you don't have the experiences that make you happy until you're too old to really enjoy them. As long as your retirement plan is reasonable and on track, you should spend the rest of your money exactly how you feel like it.
On the other hand, I use protection so I don't have some snotty kid's college bills to worry about.
On the other hand, I use protection so I don't have some snotty kid's college bills to worry about.
He made the right decision. That's more along the lines of what I meant.
06-29-2016, 09:55 PM
#53
Racer
Thread Starter
Various option trading based on earnings, day trading, some good timing, some bad timing. Not consistent but overall it's better to have the money work for you - vs not.
06-29-2016, 10:09 PM
#55
If you were really generating 8-12% return consistently with a moderate amount of risk you would be earning a lot of money as a professional money manager and you would be buying any car you want in cash. Moreover, you would not be wining about Porsche prices being "astronomical"...
06-29-2016, 10:11 PM
#56
People are much more likely to report their good years to their friends than they are to want to talk about it when they take a big loss too.
06-29-2016, 10:13 PM
#57
Racer
Thread Starter
If you were really generating 8-12% return consistently with a moderate amount of risk you would be earning a lot of money as a professional money manager and you would be buying any car you want in cash. Moreover, you would not be wining about Porsche prices being "astronomical"...
Shorting Palo Alto, Going long on US Steel, etc - are we really going to start spending time trying to "shame" someone?
As mentioned, I was referring to another person with the Lambo.
With regards to myself, I'm coming off of my 4th S Class - and the price structure is far more expensive on a Porsche - hence my surprise. Hence my post.
Hence my first quote from a dealer which has been beaten by another dealer, and 2 leasing companies.
Now - if you want to quibble with me for the details to back up these statements - PM me your email - ill begin forwarding over the quotes.
If you want to sit back - open a bottle of good nappa wine - and put those guns away - I'm down with that.
06-29-2016, 10:15 PM
#58
Racer
Thread Starter
Lets get back to car conversation and leave the finance out.
06-29-2016, 10:19 PM
#59
Rennlist Member
Join Date: Jan 2016
Location: New Orleans, LA (NOLA)
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If you were really generating 8-12% return consistently with a moderate amount of risk you would be earning a lot of money as a professional money manager and you would be buying any car you want in cash. Moreover, you would not be wining about Porsche prices being "astronomical"...
I don't mean to turn this into a "measuring" contest. ...and yes I bought my 981 in cash and will buy my 991.2 in cash also. It's totally attainable if you are disciplined and non emotional.
...and personal finances are inextricably linked to Porsches. It's obvious.