Baggerdude

This is one of several reasons I 'rent' my vehicles. I spend around 2K a month on a 107k stickered car (including tax and all the other stuff as I put down zero dollars). Keep the car 24 months and get a new one.

Some will say that spending this is foolish. BTAIM. But, I don't have to worry about selling the car privately 'in the wrong climate' .... aka, buyer's market. How much time is spent talking with prospects? Dealing with ad firms/online stores, yada, yada. And, you still loose 40K?

My SO leases a Merc E350 4matic at around $350/month for 24 months. She'll give it back and get a new one for the same/same deal. Just like making a car payment to the bank on a purchase, but you don't ever own the 'old car' .... you just keep getting new ones.

I like this. New car every couple years, no hassle trying to trade it in or sell it privately, no down stroke, write some thru your company. Works for me.

mjsporsche

[QUOTE=Baggerdude] My SO leases a Merc E350 4matic at around $350/month for 24 months. She'll give it back and get a new one for the same/same deal. Just like making a car payment to the bank on a purchase, but you don't ever own the 'old car' .... you just keep getting new ones.

QUOTE]
I agree with your views on the benefits of leasing. Makes life simple. Now...I am still trying to buy into the above quote regarding the 4matic benz. Is it a Benz or a Mercury??? For $350 a month....nah. Unless she put significant $$$$ down.

Baggerdude

[QUOTE=mjsporsche]Yes, the SO doesn't deal as well as I do .... well, most of the time. She did put some bucks down on the car. I believe it was $3500 including doc fees, and some other stuff as well as a 'cost reduction' payment. May have included a first month's payment and a security deposit, too. I forget exactly.

Yeasssss .... the Merc is a Benz. I don't think FoMoCo makes an E350 4matic. I know the new Taurus (nee 500) has an AWD option. I bet the lease from Ford would be the same as the MB my SO has. I'm pretty impressed with how MB does this. She has a 27 month lease. If she brings it back in 24 months, they will waive the last 3 months payments if she goes into another Merc.

Heck, my '07 F150 Lariat SCrew with zero down costs me $550/month for 36 months and it was only $42K. I think Kris's Merc was close to $60K sticker.

mjsporsche

Hi Baggerdude

My comments above are a bit tongue and check . Also, I was trying to understand how bad a deal I got when I leased a "Merc" E350 4matic for about 2x the amount your SO paid (and my deal was at tissue cost with "trunk $$$"). I think I need your SO to negotiate for me my next Benz deal.

What is interesting about leasing and comparing monthly lease payments is that there are so many variables that affect those $$$. Some of those factors are

(1) Any $$$ as a down payment to reduce the "capital cost" (aka cap cost reduction)
(2) Does it include sales tax or is it paid as another inception fee?
(3) Miles allowed per year.

What is terrific about leasing is that you "fix" all the variables (such as expect market value upon resale, time and effort to sell it, etc.) and it becomes a monthly payment. I learned the value of leasing the hard way when I got burned on selling our 1987 Audi 5000 when "unintended acceleration" destroyed the resale value.

Mark

Baggerdude

Mark .... Yeasss, I know you were sticking your tongue in your cheek regarding the Merc. Me, too.

Both Kris and I have low yearly mileage numbers. 10k miles was the lowest I've seen, but there are some as low as 7500 miles/year. Neither of us drive a lot during the year. I usually average 8k on my daily driver. I only live like 7-8 miles from work and only drive here 3 days a week. Kris works here, too .... so we don't rack up huge miles driving to work. That leaves weekends for our 'together time' going to lunch either in NH, VT or down by the shore. So, maybe 100 - 150 miles there. But, that said, we have several vehicles to choose from. So, not many miles on each.

I think my 2003 M5 leased for 41 months only had 23K on the clock. And, Kris's Expedition had 19k miles at the end of 36 months.

You're correct. Leasing is like a Chinese menu. You can buy many different things to vary the payment. Mine includes the sales tax, but not property tax or the doc fees. I didn't give them a cap reduction payment either. The less I put down the better. Kris on the other hand looks at what the monthly payment is and gives the cash up front to decrease the monthly. I explained to her that it's really the SAME money. Just given up front instead of over the period of the lease. I never understood doing this.

I still like to lease. I like getting a new car often.

Tobizach

Do they work with normal people (non rich) as well?

My husband and I looked at some dealers and they are soo snobbish, that for porsche newbie its pretty much a humbling experience to say the least.

Just wondering if there are dealers who also work with people who cant just right a check for $100k?

Does he post here?

Thanks

Baggerdude

I think of myself as a "regular fella". I'm not rich and I didn't write a check for $100K.

That's another reason why I lease instead of buy. If I were to buy my car, I'd have to write a check for $100K (+/- $), or finance it thru PFC or some other institution. I'm not a fan of dropping a large downstroke to reduce my monthly payment. Same/same money, just presented in a different way.

I pay around $2K/month for my '07 C4S. That includes EVERYTHING except doc fees and property taxes. I put ZERO money down. I'll keep the car 24 months and go get a new one ... monthly will prolly be same/same as today.

If I were to buy the same car with ZERO down, my monthly would have been over $4K/month and (I believe ?) that would be for 48 months. You can do the math, but that's what I remember. If I'm paying $4k a month to a bank, or PFC, I still don't own the car until it's paid for. And then there is the interest.

I lease because I like to get new vehicles every couple years. I treat the vehicle very nicely ... low miles, no harsh conditions, I don't rag the car out either. Take care of it like it is mine. Cuz, it is mine.

If you want to buy and keep a car for a decade .... perhaps buying is a better choice for you.

Now, I found the folks at Porsche of North Olmsted (Cleveland, OH) to be extremely EZ to deal with. They were very personalble, respectful, helpful, communicative and were pricing the car 7500 bucks below my local dealer. I would not hesitate to use them again, and I plan to in about 18 months.

Give Chad (sales manager), Bernie (owner), or Chris (sales person) a call. I'm sure you will be helped and pleased with their service. BTW, if you don't want to drop $100 for a car (and that would prolly be for an S or C4S version), you could always look at the $85k 'regular Porsche', or a Boxster/Cayman. They are all nice to drive. Or, another possibility would be to wait until I drop mine off .... it'll be "like new" and prolly 30k cheaper than sticker.

Tobizach

Thanks alot for the reply Baggerdude, we always purchase our cars vs leasing , I like to keep cars as long as possible, just hate going through the car buying process (looking for dealers, reg, new insurance etc. etc.). Anywho they sound like a great place, we 'll give them a look.

thx again.

Baggerdude

I understand. I think that if I were to keep a vehicle for more than 6 years, I'd me more inclined to buy. But, I don't. The car buying process is like a ballet to me. I love the whole thing. Makes me all excited for a few months.

I think you will be happy to speak with PNO. I have dealt with many, many dealers. These guys are at the top of the heap IMO.

Email Chad Lozon at chad@clevelandporsche.com. Tell him I told you about PNO. And, no .... I don't get a deal or kick back because you used my name. Just tell 'em Bagger in CT. They'll know who I am.

Tobizach

Great thanks for the contact info And I'll be sure to mention you