neoprufrok

I use Hagerty and they insure the stated value. Since I have a rare Roof Scoop 675LT, a 1995 JDM NSX-R and a low mileage S2000 - it's hard for most insurance companies to value those cars correctly. The other benefits of Hagerty are good too. I'm expecting that they will insure the S/T at higher than MSRP is my understanding. Of course, that comes with a higher premium.

mooty

^ 2nd that I am with hagerty

PTS

Everyone waiting on their S/T is living vicariously through Disden at the moment. Keep the posts coming!

WernerE

Hagerty's quoted 2x higher than State Farm. Clean driving record and age should have helped too.

Daft Chief

Maybe it’s a Cali thing but Hagerty told me they don’t insure leases* and that I would have to wait until the lease is up to add it to my policy. How are other folks getting around that?

EDIT: leases valued above 500,000*

deutsch

I uae Hagerty but with this lease hiccup I'm not sure what to do, since stated value is over 500k for the S/T. I'm pretty sure State Farm won't insure for over list price - anyone have concrete data on other companies that will insure a lease for stated value over 500k?

fester

Anyone with mandatory lease taken delivery? How you dealt with insurance? Do PCNA require you to insure through Porsche insurance like the lease or your private insurance works?

This mandatory lease BS in US is really complicating things (I have not leased cars before).

fester

wtf seriously ? I always get w&t warranty..

deutsch

to be clear, I'm asking about insurance options for stated value (above msrp) for US cars

MattDFW

I have Cincinnati insurance, they are never an issue. I matched the latest auction value of ST, around 630k and sent them comp.

johnarpy

They let you use your own insurance. They give you two options, a monthly payment or a single pay on the lease. Both have the same residual. You pay more with monthly payment due to the interest on the lease. I just gave them a copy of my insurance card, paid the amount for the one pay option, and then in a year I'll pay the residual amount. Also I couldn't get any of the protection plans, they said because it shows up as a GT3 RS and they can't sell them on that car.

white6speed

I just met with my State Farm agent yesterday to better understand their coverage. If the car is totaled or stolen etc they are able to compute market or current value and pay off that. The collision on the ST is more than double my ‘19 Weissach RS and the classification is the highest she had ever processed. No problem on the lease which started in May.

Also State Farm invested in Hagerty and my guess if it goes smoothly they will buy them. They clearly are in the high value car business.

not only is the lease business a pain in the a it costs at least over $30k in Porsche ADM which as these cars come up for sale should be included in MSRP.

PTS

It's closer to $50k with interest and fees. My MSRP is $340k for reference. My 1 year lease is ~$103k (don't have my car yet but this is what the finance manager ran for my car last month with current rates) and pays off 16% of the car ($54k). So ~$50k is lit on fire

white6speed

If you can pay the one year in advance do it. It saves a bit. Be careful of the dealer, Porsche uses a factor for the lease interest and a crap dealer can add to the factor and pocket the difference. The dealer needs to quote the factor when you are close to getting the car. The factor dropped after I got a quote but because someone posted a new lower factor on RL the dealer let me have the new lower factor but I had to know it beforehand. If you know the finance manager they have a print out for the factor on all Porsches.

Check this stuff out. My car was $330 and 1 pay was around $83k all in.

PTS

I have a family member that is a finance director at a Porsche store out East and he told me the factor prior to my meeting with my dealer. My dealer matched what he told me. I'm paying the lease off up front with my Touring trade-in as well. Those are just the numbers. My meeting was actually 2 months ago now so rates may have come down (and will likely come down more in the next 3 months before my car arrives). But I imagine most 1 year leases on the S/T are between $90-105k, of which only 16% of the car's MSRP is paid off during the lease. $40-$55k in lease interest/fees is the average

EDIT: I'll have to see what my lease looks like in a few months. Curious if anyone else had that cheap of a 1 year payoff ($83K), but that's the lowest I've seen