How much is a lease on a 130k 911?
#1
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i spec'd a base 911 and it turns out to about 130k.
does anyone have any idea how much a lease on this would be? 1500? 2000?
does anyone have any idea how much a lease on this would be? 1500? 2000?
#2
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If you go up or down in miles residual moves about 1% per 2,000 miles - I passed and ordered what I wanted.
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Caliporsche (12-17-2019)
#3
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I looked at an S dealer was using as test drive demo on 11/26/19 - MSRP $137.6K - proposed sale price $130.5k - 36 months - 10k miles per year - 56% residual - .0028 money factor (their buy rate which equates to 6.72% money) - Payment was - $2,144 - tax $119 (S Cal - 7.75%) - total $2,362 per month
If you go up or down in miles residual moves about 1% per 2,000 miles - I passed and ordered what I wanted.
If you go up or down in miles residual moves about 1% per 2,000 miles - I passed and ordered what I wanted.
#4
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Note that Porsche lease programs often have a “Maximum Residualized MSRP” (MRM). You are responsible for 100% of the price of the car above the MRM value during the lease (i.e. the residual for any amount above the MRM is 0%). This makes highly loaded cars a relatively bad deal when leasing.
#5
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Note that Porsche lease programs often have a “Maximum Residualized MSRP” (MRM). You are responsible for 100% of the price of the car above the MRM value during the lease (i.e. the residual for any amount above the MRM is 0%). This makes highly loaded cars a relatively bad deal when leasing.
#6
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I looked at an S dealer was using as test drive demo on 11/26/19 - MSRP $137.6K - proposed sale price $130.5k - 36 months - 10k miles per year - 56% residual - .0028 money factor (their buy rate which equates to 6.72% money) - Payment was - $2,144 - tax $119 (S Cal - 7.75%) - total $2,362 per month
If you go up or down in miles residual moves about 1% per 2,000 miles - I passed and ordered what I wanted.
If you go up or down in miles residual moves about 1% per 2,000 miles - I passed and ordered what I wanted.
Wow. 56% residual and 6.7% interest. I don't know much about leasing, but economically speaking isn't that major highway robbery?
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detansinn (12-15-2019)
#8
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Search the threads and you will find all of the reasons NOT to lease the 911, if you live in the United States.
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#9
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Based on the above example it would cost $85,032 plus drive off to rent that car for 3 years.
$53,440 is for depreciation leaving $31,592 in money costs. Pretty expensive way to go and a .0028 money factor is no bargain.
$53,440 is for depreciation leaving $31,592 in money costs. Pretty expensive way to go and a .0028 money factor is no bargain.
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verstraete (12-19-2019)
#11
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I'm somewhat curious about leasing a car in the future, just to limit my exposure to two things that I hate: Dealing with other people & selling my current car.
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What rates do people see with US Bank? Anyone know their money factor?
#13
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If you've got good credit, auto loans are landing between 3-4% right now in the United States, ie money is cheap, even for used cars.
For many folks, it's smarter to leverage that "cheap money" than paying cash, because whatever you do with the big lump of cash, it will probably outperform that 3-4% APR.
10 and 12 year car loans are stupid. Please don't do that. It's a sure-fire way to be upside-down in your car. If you can only "afford" the car doing a 120 month or 144 month high interest loan, you should not be buying the car -- you really can't afford it. Find something used (CPO) or another car that's cheaper altogether. I don't intend to crush anyone's dream here, but it's reality. There's something to be said for waiting when you can actually do it for real and enjoy the car.
For many folks, it's smarter to leverage that "cheap money" than paying cash, because whatever you do with the big lump of cash, it will probably outperform that 3-4% APR.
10 and 12 year car loans are stupid. Please don't do that. It's a sure-fire way to be upside-down in your car. If you can only "afford" the car doing a 120 month or 144 month high interest loan, you should not be buying the car -- you really can't afford it. Find something used (CPO) or another car that's cheaper altogether. I don't intend to crush anyone's dream here, but it's reality. There's something to be said for waiting when you can actually do it for real and enjoy the car.
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#14
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Of course, I went into these leases knowing full well that I was buying each of the cars at the end of the lease. I never approached it as a monthly payment. I always approach the purchase/lease as my total cash out of pocket. For each of these cars, I had a clear plan to purchase from the get go and I knew that I was going into a good deal. Unfortunately, most leases are not such a great opportunity for the buyer.
There are a lot of variables that can make a lease a bad deal. You can talk money factor, residual, etc, but that's almost obfuscation. Here's a simpler way to even look at... Take your total costs (money down, lease payment, insurance costs, maintenance) and divide that by the number of miles that you're given over the lease. The resulting mile per dollar is what that experience of driving the car is costing you, best case. You have to ask, is it worth it for that experience? If you're leasing a car and don't intend to purchase it at the end, that number has to be worth it to you, because it's money spent and gone on the leased car.
There are people who take 911 leases that end up spending easily north of $5/mile. When you're coming in under miles, it's even higher. It's a personal judgment for one to make.
NOTE: I am an American and I readily admit that I am ignoring the substantial luxury car tax considerations of our Canadian neighbors. Taxes can really throw a wrench into things. Still, you have to do the math.
#15
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Well, I’m still interested in learning if anyone has leasing rates from US Bank. For my current bimmer I lost 60% to the depreciation in 3 years (it is insane!!) and it has been on the market for 3 months and not a single call back from a prospective buyer. I rather don’t deal with private sale for my next car and I know trading in isn’t that bad but I am wondering if leasing through US bank could be better than purchasing and trading in 3-4 years.