frayed

Larry Harris

Paid cash for my wife's 987S and financed my 997. Class A or better muni bonds pay from 3.5 to 6% tax free. Got a lot of them. The interest on them pays my 997 pymnt with $$ to spare.

searching4996

i have usually paid cash for all my cars. AW is correct in that "lease or cash are about the same. Interests paid on the lease are often about the same amount of money that is paid in sales taxes when buying cash in vice versa." however, at end of lease you just turn the car back and no worries where as if you purchased it, you have to try to sell it and deal with tire kickers. i realized, but don't like to admit, that i change cars way too often. so it's much cleaner just to lease and forget.


This is one of the best arguments for leasing. If you know you're not the type to keep a car for more than 5 years, leasing becomes a smarter option. Trying to sell a 40-50k used car privately is a real hassle.

wetstuff

Cash.

Instead of trying to remember: Namu–de–bang–kwang–bul–hwa–um–gyung. My mantra is: Zero-Debt-Pencils-to-Porsches.

cole328

I always lease my cars...especially a p-car Even though I love the car, I am damn sure going to want the latest / greatest in 3 years, so let someone else take the depreciation hit. Plus, I have always heard that UNLESS you plan to keep the car 5+ years, buying is nutz....anyway, all personal preference.

habbud

CASH

Bluehinder

Cash or don't buy it.

daddyscar

Just so you know, you are taking the depreciation hit in the first 3 years. So someone else should be able to buy your car for about 60% of the msrp as you find a new car.

purrybonker

Geez, paying interest on a rapidly depreciating, non-income producing asset is insane.

Not that buying a Porsche in any way fits into a PPT Presentation on the topic of...

"Sanity in the Human Condition".

But, if you can't write the check for your toys, don't buy 'em. Rationalizations about tax write-offs, only-live-once, better-deployment-of-capital (the only people that use this cherry are the people without the capital), etc. etc. ARE bullets in a PPT Presentation on the topic of...

"How to Stay Poor for Life".

Soulteacher

Yupp, that has been a favorite, highly debated topic of the past. See, for example:

How Much Income Do You Need To Buy a 997
Target Customer for 997
997 Financial Questions


Personally, I still don't know how anyone could look at his Porsche from a rational point of view, and I still believe in what I already said over two years ago after buying my first Porsche:

cole328

yeah, but then they have my old sloppy seconds... I LOVE driving new cars, and change cars often Thus, leasing is a no brainer

purrybonker

In other words, you like to have waaay more car than you can afford AND want to willingly pay waaay more for that car than the next guy. Yep, that's pretty much the crack-cocaine kinda economics/lifestyle that the financial and marketing geniuses have got America hooked on (and is now turning the place into a third-world country).

There's nothing in your statement that's inconsistent with buying. You can still do the samething as you do with leasing if that's really your motivation and circumstance. Pay cash, trade up every 2-3 years and pay the difference - it will cost you waaaay less than doing it with leasing, plus you open the door to many more other alternatives.

cole328

I wholeheartedly disagree with your comments. a) you have no idea of my economic background, as I am CERTAINLY not stretching to lease this car, b) leasing makes me immune from model year changes or other issues, as I drive, enjoy and give it back and the end....next!! So, I'll let guys like you depart with $90K in one lump sum, with no indication of what you'll get back on the back end. Enjoy.

purrybonker

here, here... well said. But you can't finance that feel-good. Many have tried.

MartyB

I agree with you. No argument can convince me that leasing is a financially sound thing to do - too many hands in the purse. Regarding depreciation, Cole, I assure you that you DO take the depreciation hit and then some while you are "renting" the car. They aren't going to be left holding the bag when your lease term ends. However, I don't think it is reasonable to assume that Cole can't afford to buy a car just because he leases. Admittedly, Purry's assumption may be spot on, but probably not fair.