Lease vs. Purchase vs. Options
11-24-2004, 06:46 PM
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Lease vs. Purchase vs. Options
I should have my 997 in 3-4 days. I am debating the lease vs. purchase issue, and came across Porsche's financial website, where a program called "option" was mentioned, which is sort of like a lease\purchase program--Not much down, a little higher monthly payment, and either keep the car at the end with a balloon payment, or turn it in and walk away.
My plan has been to keep the car for a long time, and I really can't benefit from the business expense deductibiity of a lease, but I work on bonuses and don't really want to slap down a big down payment up front. Balloon payment is about 10k less than residual lease amount. Anyone use this Option program? Any thoughts?
Charlie
My plan has been to keep the car for a long time, and I really can't benefit from the business expense deductibiity of a lease, but I work on bonuses and don't really want to slap down a big down payment up front. Balloon payment is about 10k less than residual lease amount. Anyone use this Option program? Any thoughts?
Charlie
11-24-2004, 07:37 PM
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I think in general Porsche financial is expensive. Take a look at lease compare. www.leasecompare.com
I am in no way affiliated (check my other post on lease compare) ;-)
I am in no way affiliated (check my other post on lease compare) ;-)
11-24-2004, 11:35 PM
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All of the variations of the 997 and bugs worked out . This is just the beginning , the cab is not even out yet . I think there will be more variations and options for this 911 than any other ,,,
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11-25-2004, 12:37 PM
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Do you have a home, co-op or condo on which you can take out a home equity line of credit? That is reallly the cheapest way to finance a car purchase if you plan to keep the car for a long time. The interest rates are the lowest and they are tax deductible. I bought my '02 cab using home equity credit where my interest rate is .25% under prime. Although under the loan I have I don't have to start paying the principal back for 10 years, I'm in fact voluntarily paying it back over a 3-year period.
11-25-2004, 12:45 PM
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Originally Posted by Speed
Do you have a home, co-op or condo on which you can take out a home equity line of credit? That is reallly the cheapest way to finance a car purchase if you plan to keep the car for a long time. The interest rates are the lowest and they are tax deductible. I bought my '02 cab using home equity credit where my interest rate is .25% under prime. Although under the loan I have I don't have to start paying the principal back for 10 years, I'm in fact voluntarily paying it back over a 3-year period.
11-25-2004, 07:08 PM
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Originally Posted by Speed
Do you have a home, co-op or condo on which you can take out a home equity line of credit? That is reallly the cheapest way to finance a car purchase if you plan to keep the car for a long time. The interest rates are the lowest and they are tax deductible. I bought my '02 cab using home equity credit where my interest rate is .25% under prime. Although under the loan I have I don't have to start paying the principal back for 10 years, I'm in fact voluntarily paying it back over a 3-year period.
11-29-2004, 09:07 PM
#11
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Originally Posted by Billy Bob Dibble
I think in general Porsche financial is expensive. Take a look at lease compare. www.leasecompare.com
