jkfuel

Pay cash if you have it. If not, the rates for a 3y loan for a used car is around 2%- cheap.

needmoregarage

some folks call it "paying your dues" versus instant gratification.

Porsche911GTS'16

A financial advisor once told me to "lease a depreciating asset and buy an appreciating asset." Makes sense to me. I used some of the car lease threads here on RL to figure out the best plan of attack for a lease. I lease because I am self-employed and it is a business expense. From a business expense standpoint, you can write off far less if you buy the car. Even if it is not a business expense, I would suggest investing the money rather than giving Porsche $100+ thousand of your hard-earned dollars right off the bat. I am leasing my GTS with the expectation that I am going to buy it at the end of the three year lease. The lease gave me time to "kick the tires" to make sure that I want the car for the long-term (which I do) and the lease allows me to maximize my tax write-off.

fuddman

Point one: You don't get the best deals buying cash. The dealer makes money on the interest you pay when you finance, and a ton of money on a lease. He's looking, first, for customers who have a reliable income stream he can tap into. Cash customers looking for a deal are in second place.

If you're intent on making a dream come true, then order a new car to your specs.
If you're satisfied with achieving a quasi dream, then buy used car or a new car off the lot.
If saving money trumps the dream part, then you should chose the latter because a lot car is going to be cheaper than an ordered car.

In either case, you're likely to cut a better deal by financing your car. As I mentioned, a dealer is more willing to do 10% off on a financed car since he gets a cut of the interest you pay. If you can go either cash or finance, then finance, get the better discount, then pay off the loan after, say, 2 months.
Good luck with your dream.

PS: If you've got a trade, sell it yourself or forget about any meaningful discount.

daddyscar

911's come in so many flavors, I wouldn't jump into a new one even though you've waited your whole life to get one. More cash buyers are going to respond than those who financed their 911's.

Loud223

I've paid cash, financed, & leased. I liked paying cash, but I need to keep a certain amount in reserve for my business, so I usually finance, and pay off the loan when I have more reserve than my anticipated business needs. Probably won't lease again. For me it just feels like I'm driving someone else's car. So yeah it a personal choice.
Good luck and make sure to enjoy the search. You only buy the first one once.

LexVan

I borrow money for my Porsches from the Bank Of LexVan. I get a good rate. I know a guy.

The Fat Kid

I bought a CPO with my S4 + cash.

I went through Audi for a loan on the S4 because of the incentives; paid it off in six months and made a couple hundred bucks on the deal.

I know my C2S is not an "investment", but found a "hot" deal

saeyedoc

I buy CPO, finance with minimal money down, but try to make it so I won't be underwater 2-3 years in when I'm ready to trade. At close to 2% on used cars, I'd rather not tie up the cash and it helps build your credit rating.
Leasing is ridiculous in this state, we have to pay tax on the entire purchase price and then again if you buy it off lease. Only worth doing if you can write it off.

R_Rated

Financed 10K. Raped on interest - still working on credit from a divorce. Paid off in 6 months. If not for being intentional about doing stuff for my credit - would have paid cash. Used [CPO] buyer here.

dflowerz

Do whatever you want. I have always paid cash for almost everything, but this was my first big car purchase and whether I would end up being a 911 enthusiast or just go "meh" after the shine wore off was an open question. So I leased for three years. Not the cheapest route, but worked for my situation. Calculated that the the extra I would pay for the lease if I paid cash for residual at lease end was OK with me. I am paying for the choice to just walk away at lease end if I want to. After 6 months I can't envision not having a 911, but ask me again after the three years is up. Of course I could fall into Porsche's trap and just lease a newer car after three years. Never say never. Bottom line is whatever I chose to do is not going to have any effect on my financial well being in any way and that is really what is most important. I just turned 60. Zero debt, and healthy retirement future. Been playing on motorcycles for years. Time to splurge a little with a car!

Dan Nagy

I mostly lease, and once in awhile I buy at car at lease end. Total your payments, add in the residual at the end of the lease, and see if that total works for you. It's worth consideration. I think they can also do a lease on a CPO.

sctanton52

We only buy sports cars for an investment,.....an investment in Fun. These days it is all cash. We try and get the best deal we can, and then just write the darn cheque. Don't loose any sleep over a few % points. But years back it was a mix of loan/lease. In our 'early' life we had just two cars, one was always a sports car, but all were used or entry level. We lived frugally until our late 40's early 50's. That helped us a lot as we are now both retired and in our early/mid 60's, and able to live the 'good life'.

Austin-Guy

I'm probably going to be the black sheep here so I'll put on the flame suite..

Seems most if not all will tell you to pay cash. I think as a whole we've been trained to save, save, pay cash or you can't afford it. I for one have never had an "extra" 100k laying around that I can put on a car. My wife and I have no kids but make good money, we travel as much as possible, drive nice cars and never had any problem making a payment.

I've financed a Ferrari and now a Porsche along with many other cars. It would take us 10yrs. to save up enough to pay cash, I would much rather live my life now the best I can everyday then wait and look back thinking "Man I wish I would have done this years ago" you never know what day will be your last.

Al.Fresco

No flame suit needed. There are many paths to happiness!!!