Bford100

Anybody leased a 997S lately? Curious as to residual values quoted and money rates.

Thanks.

Brad '02 C2

Alan Smithee

I got Porsche Financial's base rate on a non-S 997; it was a 51% residual and .00210 money factor about three weeks ago. 48 months, 12k miles per year, perfect credit.

Tarry at LeaseCompare.com was very helpful in providing Porsche's base rate info, as well as very competitive rates from outside financial institutions.

JasonF

I just closed on a lease for my base Carrera...

36 months/12k miles a year
Residual: 60%
MF: .00210

Bford100

Thanks guys. I don't want to probe too much, but can you elaborate further on drive off amounts, if any, resulting mo. payment?

Thanks in advance.

Alan Smithee

No problem...

MSRP was $76,820 (ordered in July...no discount), total cost with $595 Porsche Financial fee was $77,415, that puts the monthly payment before sales tax at $1,041.45 with a drive off of $1,687.36 (first payment + $560 license fee).

scott watkins

Brad... just checked acscorp.com and came up with the following.
Good luck.

Selling Price $79895
Credit Score 730
Term 39 months
Mileage Allowance 45,000 total miles
Residual Value $43,942
Money Factor 0.00255
Mileage Penalty 0.15 per mile
Gap Insurance Included
Acquisition Fee Included ($899)
Purchase Option $44,192
Security Deposit $0
Disposition Fee $500
Total Due at Signing $1,266 + tax & license

OH997

Huntington Bank

Retail $90K
Selling price $84K
39 months
36,000 miles
$1110 month + tax

2K out of pocket including first month's payment

munro86

Hi,
Can someone explain the benefits of leasing? It isn't immediately apparent to me.Is it sort of like renting a car, then you have to give it back? At least if you actually buy it ,and pay it off, you'll have some equity-am i seeing it wrong?
Thanks

qirex

yeah...but when you lease yopu are simply paying the depreciation that you use.

So if you lease for 3 years you pay for the use of the car over 3 years.

Lets say a 997 is worth 80K but after 3 years its worth 40K - you'll pay $40K over 3 years.

Some ppl dont like leasing b/c they feel locked in - dont actually own it etc.

There's a theoretic advantage to leasing for tax reasons - but not really (just get a good accountant).
The mileage restrictions can be a pain if you drive a lot, but IMO - the best thing re: leasing is the fact that you dont have to deal with selling your car when the lease is up. Sure...you could get 40K for your 80K 997 3 years later - but you'de have to find a privte buyer or get jacked by the dealer.


leasing is not for everybody - I leased a 2003 350Z, and while I wanted to get out of the lease and didnt b/c its harder, i gaurantee that financially i would have taken a loss by simply selling the car outright. That said, there are ways to exit leases.

TT Surgeon

My acct runs 75% of the car thru the corp, pre tax $. I use the car for work,( mostly). I end up paying the 25% balance OOP. At the end I have the option to buy the car or walk, if I buy it I just pay the residual. My only OOP expenses are minimal and it's like buying a 90k car for 45K, and you've had it since new. In my case it's a perk of the practice, but leasing is not for everybody.
It's best for disposable type cars, family cars, suv's etc, you just get a new car every 3 yrs and never have to deal with selling it. (Which is a hassle!)

Bford100

Leasing really makes more sense if you can use a tax advantage for doing so, like running it through a business, as it becomes an expense of the business. Leasing also makes sense when interest rates are higher for purchasing a car, or when the rate of depreciation on cars is high (like now). Take a look at high end Mercedes selling for $125K and up two years ago. They are now selling for mid 70's. I would hate to have purchased one of those!

IMHO, leasing does not make sense it you plan on keeping a car for more that 3 or 4 years. You should buy it then.

OH997

As long as you get an assumable lease it's a great way to go if you keep the car for less than three years

CLL ACAB

In California leasing a high end car makes a lot of sense because you only pay sales tax on the cap reduction and the monthly payment. So if the sales tax rate is 8% and you have a $45K residual, you save $3,600 in sales tax. If you purchase the car, all the sales tax is due up front and there is no credit given when you sell it or trade it.

Rasta

Any updates on companies offering competitive rates on leases for "perfect credit" guys? I understand JP Morgan is offering 4.5% money these days.

Rasta

tagheuer, you did really well by getting almost $8.5K off a new C2 - good job on that. I assume the was lease offered by another institution, and not Porsche Financial Services.