Base Carrera / 39 months / 10k per yr- residual is 70%

 

lots of people lease cars, and most do not do so because they can only afford to "rent" the car. There are many advantages to leasing cars.

 

I couldn't get approved for a HELOC so I used Amscot, don't judge.

 

It’s called arrogance and ignorance. All in one single post. Ha!

 

cheers, fhanks!

 

Looking into leasing a 992.2 911 CS,
MRSP: $175,205
This is what the dealership sent me, seems high. I’d love to see what others are paying. As of now, there are No tariffs

2 Year Lease, 7500 Miles a Year
$10,000 Down Payment
$3,569 a month


3 Year Lease, 7500 Miles a Year
$10,000 Down Payment
$2,680 a month

 

Specific to 911s, leasing seems like a scam. Roughly using the numbers above...
finance 5 years (yeah yeah, pay cash crew whatever)
at 4.99% for example, after 3 years of repayment the balance is around 71k$

Good. Luck. Finding a 3 year old 911 c2s in decent shape with these lease mileage levels for 71k.

Who gets the difference in money there eh?

Earlier poster mentioned you're paying depreciation that is way out of line with reality. I agree.

 

That’s definitely a good point, this would be my first Porsche lease as I’ve owned the rest. I was thinking more short term on this as I think I want to flip in and out every couple of years. I get bored, it’s not a daily.

 

Had to do the math twice to believe it. For the 2 year lease you'll pay $95,656? That's a lot of $$$ to rent a car for 15,000 miles.

 

No doubt! That’s why I wanted to throw it out there, it seems way out of touch. Like I said, first time leasing a Porsche vs financing. Sure seems like financing is the way to go on these.

when I look up two year-old cars with less than 20,000 miles for a Carrera S, the cheapest one within 1000 mile radius is $157K.

thank you guys for helping me answer my own question!

 

Even if you lease with low residual you can buy the residual and then flip the car and collect whatever profit nets from that sale. When getting a car, I look at it as cost to purchase outright. Add up the lease payments + buyout + down payment, or add up total finance payments, or add up whatever you borrow from yourself via heloc or others... figure out total cost to purchase, and make a decision based on that and what you're comfortable with monthly. There are some gotchas with sales tax differences on leases vs purchase... example, my state does highway use tax on a vehicle purchase, but sales tax on a lease. Very different scenarios. The dealer will give you the lease vs finance vs purchase options and should be able to explain the tax implications of each. There can also be differences in property tax and registration costs.

When I consider a lease, there is the finance company's opinion of the residual vs reality, and they rarely match. IE, in your case, it's highly unlikely that a new 992.2 will depreciate from 175k to 80k in two years. Even if buying at retail and selling at wholesale. That's completely unrealistic. So you stand to profit some if you buy out the lease at the end and then sell it - which I imagine you could do in one transaction at a dealer, when you flip into your next 911! You'll have to take your best educated guess at the buyout, and things can certainly change between now and then... but without risk, there is rarely profit.

JMHO. I'm not an attorney nor an accountant.

 

HELOC is the best way to go!!! Almost everyone I know that owns a Porsche or supercar buys their car with their HELOC...no point dying in your home when it has over $1.5M in equity sitting in it and not use any of it. Take some out so you can enjoy your 992!!!

 

What is the 2 and 3 year residual and what’s the money factor in each term?

 

Residuals are grossly understated, money factors are bad right now and there are no lease incentives on a car like this - so leasing makes no sense unless its a tax deduction that you can get past the IRS. Take a loan (join a good credit union), buy the car, when you are done with it after 3 years - sell it back to a dealer and use the proceeds to pay off the loan balance and put the rest of the money in your pocket.

 

I see you haven’t experienced an IRS Audit yet

I had a team or IRS Auditors roll into my small business and sit there every day for two weeks, combing through every piece of paperwork in my business. I had the good sense to only buy my business trucks through the company and nothing like a 911 or Cayenne, which I owned but paid for personally. Be sure to keep really good mileage / trip records if you decide to expense a Porsche.

IRS Audits feel like a Root Canal and Colonoscopy occurring at the same time and lasting all day.