PTS

Many guys have received their cars while many of us live vicariously through you still waiting...I did not want to clog up the owners thread or the main thread for this discussion so started a new one.

My car keeps getting delayed and is likely still 2-3 months away from delivery, but I had a meeting with my finance director a few months ago to prepare the numbers. My 1 year lease was in the $100k range on a $340k MSRP car. I am trading my Touring in which will pay the 1 year lease up front. For easy math if my lease is $100k, and it pays off $54k of my car (16%), the lease will cost ~$46k in lease interest and fees.

Let's discuss the lease cost.

What is your MSRP?

For those who did a 1 time payment for the lease, what did you pay?

For those who chose to pay monthly, what are you paying?

DodoBrd

Damn, so it’s like $400k+ all said and done. I didn’t realize the lease costs that much.

Nick

That's without a dealer markup.

tmslc

this will be a fun thread to watch.

PTS

It will. Hopefully we can stay on track in here, not a great start

rosenbergendo

Couldn't they just sell the silly car straight up like every other product???

ipse dixit

You must be new around here.

mass27

I'm pretty sure this was discussed many times. The lease costs are formulaic and not open to interpretation. This is how the 12 month S/T lease is calculated. Higher trade in / Lower MSRP = lower payments = lower total interest. Pretty simple math.

Monthly payment amount is almost an irrelevant data point because it is completely determined by below.

MSRP: which you know
Money factor (interest rate): which is set by PCNA and should be known
Trade in and/or downpayment: which you and dealer decide.
Sales tax: which you know
Residual value: which is pre-determined at 84% of MSRP

WernerE

Your lease cost sounds high. A few questions:

1. You say the residual is 84% - I had it in my brain it was 86%. Can you confirm?
2. What was the money factor or interest rate? (Convert either by multiplying or dividing by 2400, respectively)
3. What are the other lease fees?

Interest rates are expected to drop soon. Porsche Financial will do what it will do, but I won't be pleased if the money factor doesn't drop as well. In my case, the lease amounts to a third sticker

WernerE

Keep in mind also that you're going to be permitted to "reinvest" the residual or $285,600 for a year, so your net cost of the lease should be $10k less, at least.

Also, I'm assuming you've included your sales tax on the lease payment (whether one pay or not).

jbann

Appears to be 84% residential based on this Porsche NA letter as of September 2023. Not sure if there has been an update in the mean time.

MattDFW

My suggestion based on my recent lease experience on ST is to talk with dealer about paying as much as possible monthly. This will effectively bring down the rate and interest. My monthly payment is roughly 25K with a final payoff of $69,000 upon 12 month lease. $300,000 in lease payments + $69,000 in payoff is a total of $369,000. MSRP was $348,970. $22,000 in interest which is around 6.3% of vehicle price. Sounds like there is options depending om one's financial position. I'm sure most dealers wish they could just sell the car outright and not have to deal with the lease parameters.

white6speed

My MSRP was $330, 1 year lease payment $83,665, final payment $277,817. Total new MDRP, $350,482, interest $20,182.

rosenbergendo

lol. yeah brand new.

pitt911

RL always delivers
never thought monthly lease payment for the S/T will be discussed here
a lot of people paid ADM of 100-250 k on top of a car that costs 330-350 k
so whether the one pay lease is 85 k or 96 k , does it really matter when the total price is 450 k plus
for a minute I thought I was on Lease hacker webpage