Purchasing 2020 911S This Week; Any advice?
12-10-2019, 03:40 PM
#1
Purchasing 2020 911S This Week; Any advice?
Hi Folks!
This is my first post here. With that being said, if this is in the incorrect area, please advise. I am looking to get into a 2020 Carrera this month but wanted to see if you folks had any advice for a (hopeful) first time Porsche owner. Any advice on how to negotiate a good price? Looking to lease, but would consider purchasing if it makes more sense. I guess i'm just trying to get any advice you folks may have. I've never tried buying a car at this price. My credit is excellent, just dont know what else to try to look into. I was told to focus on MONEY FACTOR? Watched some youtube videos on this but still not too confident. Obviously looking for a good deal but just dont know how to get one lol. Any advice would be MUCH appreciated. Thank you so much in advance!
This is my first post here. With that being said, if this is in the incorrect area, please advise. I am looking to get into a 2020 Carrera this month but wanted to see if you folks had any advice for a (hopeful) first time Porsche owner. Any advice on how to negotiate a good price? Looking to lease, but would consider purchasing if it makes more sense. I guess i'm just trying to get any advice you folks may have. I've never tried buying a car at this price. My credit is excellent, just dont know what else to try to look into. I was told to focus on MONEY FACTOR? Watched some youtube videos on this but still not too confident. Obviously looking for a good deal but just dont know how to get one lol. Any advice would be MUCH appreciated. Thank you so much in advance!
12-10-2019, 04:01 PM
#2
Rennlist Member
Don’t lease a car. Ever. It’s like renting. The most expensive way to own a vehicle.
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12-10-2019, 04:06 PM
#3
Rennlist Member
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12-10-2019, 05:06 PM
#5
RL Community Team
Rennlist Member
Rennlist Member
While many luxury makes, such as BMW, Mercedes, Aston Martin, etc, subsidize their leases. Porsche does not.
Under the right circumstances, leasing those cars can be a banging deal, but leasing a Porsche 911 is a poor financial decision and expensive exercise.
Interest rates are spectacularly low right now. Put that excellent credit to work. Smarter than paying for it in cash.
Of course, if you live outside of the United States, there are other reasons that can make a lease compelling despite the money burning aspect. For example, countries like Canada have brutal taxes on luxury cars and leasing allows you to avoid some of that pain.
Under the right circumstances, leasing those cars can be a banging deal, but leasing a Porsche 911 is a poor financial decision and expensive exercise.
Interest rates are spectacularly low right now. Put that excellent credit to work. Smarter than paying for it in cash.
Of course, if you live outside of the United States, there are other reasons that can make a lease compelling despite the money burning aspect. For example, countries like Canada have brutal taxes on luxury cars and leasing allows you to avoid some of that pain.
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12-10-2019, 05:15 PM
#6
Agreed with others above. There are plenty of circumstances where a lease can actually make sense (I bought a Landrover LR4 and it was cheaper for me to lease it and excercise the buyout at the end than it was to finance it and purchase up front).
Those circumstances won't happen with a 911. 911 is a car you buy unless something changes with the Porsche lease programs.
Those circumstances won't happen with a 911. 911 is a car you buy unless something changes with the Porsche lease programs.
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12-10-2019, 05:31 PM
#7
Deleted.
Last edited by Caliporsche; 12-10-2019 at 05:32 PM. Reason: quoted someone istead
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12-10-2019, 05:31 PM
#8
While many luxury makes, such as BMW, Mercedes, Aston Martin, etc, subsidize their leases. Porsche does not.
Under the right circumstances, leasing those cars can be a banging deal, but leasing a Porsche 911 is a poor financial decision and expensive exercise.
Interest rates are spectacularly low right now. Put that excellent credit to work. Smarter than paying for it in cash.
Of course, if you live outside of the United States, there are other reasons that can make a lease compelling despite the money burning aspect. For example, countries like Canada have brutal taxes on luxury cars and leasing allows you to avoid some of that pain.
Under the right circumstances, leasing those cars can be a banging deal, but leasing a Porsche 911 is a poor financial decision and expensive exercise.
Interest rates are spectacularly low right now. Put that excellent credit to work. Smarter than paying for it in cash.
Of course, if you live outside of the United States, there are other reasons that can make a lease compelling despite the money burning aspect. For example, countries like Canada have brutal taxes on luxury cars and leasing allows you to avoid some of that pain.
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detansinn (12-10-2019)
12-10-2019, 05:34 PM
#9
Rennlist Member
To the OP: Whether to purchase or lease is dependent on circumstances specific to you and your tax jurisdiction. There are way too many factors to consider for blanket statements to hold water. Pay no attention to what the internet says; talk with your accountant or spend some time educating yourself.
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12-10-2019, 05:43 PM
#10
To the OP: Whether to purchase or lease is dependent on circumstances specific to you and your tax jurisdiction. There are way too many factors to consider for blanket statements to hold water. Pay no attention to what the internet says; talk with your accountant or spend some time educating yourself.
12-10-2019, 07:20 PM
#11
Track Day
Buying or leasing a 911 (at least one that is not collectible) is a poor financial decision. Your Honda was a good financial decision. But I know what you mean. You don't want to pay more to drive a 911 than you must.
12-10-2019, 08:00 PM
#12
Rennlist Member
The reality is that Porsches don’t lease well. Unlike some other luxury brands (e.g. BMW) which have artificially inflated residual values and lease programs and lease cash, Porsche does not do this. Also, as you probably already know, Porsche is known for their plethora of expensive options. Once you get above a certain price point, the options don’t residualize and you’re basically paying cash for them over the lease term.
I’ve purchased over 60 news cars and countless Porsches. If you want some help, message me and I am happy to coach you on the process and review some deals and numbers.
Happy Holidays and congrats on a major lifetime achievement!
I’ve purchased over 60 news cars and countless Porsches. If you want some help, message me and I am happy to coach you on the process and review some deals and numbers.
Happy Holidays and congrats on a major lifetime achievement!
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12-10-2019, 09:56 PM
#13
Rennlist Member
Lease: if you own business. Write it off. Otherwise purchase the 911.
Do not over think.
If you want a car go get it. Simple. We all live once so live it well.
Experience over regret my friend
Do not over think.
If you want a car go get it. Simple. We all live once so live it well.
Experience over regret my friend
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Caliporsche (12-11-2019)
12-11-2019, 02:41 AM
#14
Agreed with 95% of the posters about leasing. BMW et al are rental car companies. Once you factor at least 4-5% APR on the lease, plus the crap residual, a 992 is not a good lease. I wonder how many businesses can justify writing off a 911 for tax purposes, can't see it being many.
I researched; cash vs lease vs finance. I'm going to pay cash for most of the car and finance the rest. If you can get 3% on a loan, you can put the money you were going to put on the car in an index fund. You just have to balance risk at that point.
I researched; cash vs lease vs finance. I'm going to pay cash for most of the car and finance the rest. If you can get 3% on a loan, you can put the money you were going to put on the car in an index fund. You just have to balance risk at that point.
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12-11-2019, 02:35 PM
#15
The reality is that Porsches don’t lease well. Unlike some other luxury brands (e.g. BMW) which have artificially inflated residual values and lease programs and lease cash, Porsche does not do this. Also, as you probably already know, Porsche is known for their plethora of expensive options. Once you get above a certain price point, the options don’t residualize and you’re basically paying cash for them over the lease term.
I’ve purchased over 60 news cars and countless Porsches. If you want some help, message me and I am happy to coach you on the process and review some deals and numbers.
Happy Holidays and congrats on a major lifetime achievement!
I’ve purchased over 60 news cars and countless Porsches. If you want some help, message me and I am happy to coach you on the process and review some deals and numbers.
Happy Holidays and congrats on a major lifetime achievement!