Question about 992 leasing vs. 991.2
11-11-2019, 08:21 PM
#31
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Thread Starter
Yep, just as I said above about terms, interest rate, down payment and etc. with Woidside.i. I financed another 458 Spyders through them 3 months ago.
Woodside makes sense if you are purchasing used exotics that hold value or even appreciate over time if you have a car budget like me. That is what I use them for.
that said, these are sports car purchases and they are not supposed to make financial sense. If you need a lowish note, that may be your only and best option. Who cares about how much is paid back 10 years later. You could be dead week before then. Have fun and drive what you want.
Woodside makes sense if you are purchasing used exotics that hold value or even appreciate over time if you have a car budget like me. That is what I use them for.
that said, these are sports car purchases and they are not supposed to make financial sense. If you need a lowish note, that may be your only and best option. Who cares about how much is paid back 10 years later. You could be dead week before then. Have fun and drive what you want.
11-11-2019, 08:22 PM
#32
Rennlist Member
Thread Starter
If you are only keeping the car for 2-3 years, why not just buy used. Even a slightly used car would make the purchase decision so much easier.
Even though I recently bought new (and paid cash because I dislike debt), in the future I will likely buy just slightly used (I think). For me it was a case of model year / the car I wanted not being available and I didn't want to wait any longer to get a 911... But now that I have one, I'll be more patient with the next one.
There are a lot of really nice, low mileage 911's out there.
Even though I recently bought new (and paid cash because I dislike debt), in the future I will likely buy just slightly used (I think). For me it was a case of model year / the car I wanted not being available and I didn't want to wait any longer to get a 911... But now that I have one, I'll be more patient with the next one.
There are a lot of really nice, low mileage 911's out there.
11-11-2019, 09:14 PM
#33
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Thank you for your insight. My issue is not having a low note, I don't care if I'm paying 1200 or 2400 a month, for me the main issue is to get the "best deal" whatever that may be. I've been trying to do a lot of research and asking around because I leased an M4, didn't know how to negotiate and got a 80k MSRP car with no discount, 5k down and 1,320/month (10k miles/yr). After looking into it and realizing how much of an idiot I was I vowed that it wouldn't happen to me again. I agree with your philosophy of having fun and driving what you want I just don't want to have any ill feelings toward my car because the dealer screwed me. Took me a while to get over it with my M4 and it soured how fun the car was for me for a while, couldn't get it out of my head. Heavily leaning toward putting 20k down with Porsche and financing 5-6 years, seems like the standard way to go!
11-11-2019, 09:31 PM
#34
Thank you for your insight. My issue is not having a low note, I don't care if I'm paying 1200 or 2400 a month, for me the main issue is to get the "best deal" whatever that may be. I've been trying to do a lot of research and asking around because I leased an M4, didn't know how to negotiate and got a 80k MSRP car with no discount, 5k down and 1,320/month (10k miles/yr). After looking into it and realizing how much of an idiot I was I vowed that it wouldn't happen to me again. I agree with your philosophy of having fun and driving what you want I just don't want to have any ill feelings toward my car because the dealer screwed me. Took me a while to get over it with my M4 and it soured how fun the car was for me for a while, couldn't get it out of my head. Heavily leaning toward putting 20k down with Porsche and financing 5-6 years, seems like the standard way to go!
Keep in mind that any new model sports car, especially one as venerable as the 911, will never lease well in the first year, simply because dealers and manufacturers know people will pay up to be the first ones on the block with one. Once they are sitting on the lot for a bit and the demand slows, you may see some better MFs or a higher residual value, both key components to lower lease payments.
11-11-2019, 09:59 PM
#35
BMW has practically turned into a car rental company. They heavily subsidize their leases. Mercedes does the same.
It makes zero sense to lease a Porsche 911. The numbers don’t work. The Aston Martin Vantage, which stickers for about the same price as a 911, is a substantially cheaper car to lease. Heck, under some conditions, a McLaren 570S or even a Lamborghini Huracan are a better lease deal than a 911.
If you want a 911, buy it. If you’re financing, the payments are basically the same as a lease, but you aren’t flushing your money down the toilet as you would in a lease. You’ll be in a much better position for your next car from a financial perspective.
It makes zero sense to lease a Porsche 911. The numbers don’t work. The Aston Martin Vantage, which stickers for about the same price as a 911, is a substantially cheaper car to lease. Heck, under some conditions, a McLaren 570S or even a Lamborghini Huracan are a better lease deal than a 911.
If you want a 911, buy it. If you’re financing, the payments are basically the same as a lease, but you aren’t flushing your money down the toilet as you would in a lease. You’ll be in a much better position for your next car from a financial perspective.
Porsche doesn’t subsidize leases. And that deal is ****ing ATROCIOUS. Don’t get caught looking at the monthly payment, look at the full cost of the lease. Over 100 grand for 3 years? What the hell? Do you think if you buy the car for $140k, you’ll have to sell it for $35k in 3 years?
Leases at BMW make sense because not only are they less “headaches” as you point out but financially you often come out ahead because their residuals are higher than they should be, and incentives are strong. With Porsche, buy the thing.
11-11-2019, 11:19 PM
#36
If you want the best deal, you need to negotiate the best price for the car and shop for the best interest rate on your loan. Right now, Porsche leasing isn't very attractive, so I'd forgo that route (and I've leased my last dozen or so cars). PenFed Credit Union offers some pretty decent interest rates, and you should also try your local credit union. As mentioned above, a home equity credit line is another low interest source of money.
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