Car has been delivered and sitting in the dealer's lot in Chicago, I saw it last weekend when I was there for my sis's graduation and just stoked the fire by taking another C4S out for a spin (my car hasn't been PDI'd or clearbra'd yet).
I gotta say, I'm damn glad I got PSE, the sound is the one thing I can't get out of my head!

Any suggestions on whether to go with a lease or finance? I was originally thinking finance with $30k down for 48 mos, but with the 998 possibly coming out in 3 yrs, would it make more sense to lease it, invest the cash, and buy the 998 in '11? I won't get any deductions on the lease payment, though. How much residual value can I expect in 3 yrs on this car (MSRP 109)?

 

Nice car congrats I always lease my cars, but then again, I can run the car through my business Even without the deduction, my motto always has been "buy appreciating assets only...." If you want to buy, I would have suggested finding a mint 1-2 year old car Since you clearly chose new, my .02 would be to lease the thing, enjoy the hell out of it, and then get a new one in 3 years any car, even a p-car, gets old after 3-4 years,and there will always be another distraction that you want more......

 

I think you're right, I know I'm going to be hankering for the 998 as soon as it comes out...so maybe a 36 or 39 mo lease is the way to go?

 

I did a 36-mo lease nothing down except driveoffs enjoy the car and invest the money elsewhere enjoy the C4S!

 

Did you lease through Porsche or a 3rd party? What's your monthly if I may ask?

 

through Porsche, just b/c it was easier A credit union may be more competitive Given that you are getting the 4S, PSE, etc., I would guess a lease in the $1700-1800 area Mine is a nice optioned C2s, I believe stickered at $90K, and the lease is $1529 tax included nothing down except for driveoffs

 

I tried leasecompare and they only had one option, USBank, who rejected me for lack of automotive history. I've got no debt and good credit but my only automotive history is the wrangler I bought with my ex wife, my current s4 I bought from my dad. Any chance I'll get approved for a lease through Porsche or should I just finance it?

-A

 

I disagree with the lease. I leased my M5 and other cars, only to be stuck in contracts and worry about mileage. I bought my 997S (2006) and did it over 4 years. I have one more year but may just pay it this year and be done with it. A few thoughts... 1) I hated getting rid of the M5 when I did but I had no choice under the lease terms (my 911S is a second car for me). 2) If you want to trade early for any reason you are stuck in the lease. If you buy, you have full flexibility and at the end of the day you own it (even if the bank really does). But i like knowing its mine and not leased.

As for the wait, I went through it also. It was good training for my impatient self, as I am now waiting for the iPhone 3G and that wait is killing me!!!

 

You should be able to simulate the lease if you have a good relationship with your banker (although I have not done one of these deals since the credit markets tightened up). My bank will amortize the loan over any reasonable period I want with a balloon at the end for any reasonable amount I want. For example, assuming a purchase price of $100k, I could structure the loan with payments of $1500 per month for 36 month with a final balloon of approx. $58k. I believe that this is what the Porsche Options program does.

 

Based on what Cole shared, I can't imagine how leasing a 997 makes sense, especially without any tax benefit. He will pay over $55,000 to basically rent the car for three years, presumably with mileage limits and maintenance requirements. With a fairly aggressive discount of 10% off of MSRP, his 90k sticker car would have sold for 81k, meaning that he would have paid for all but $26k of the car over 3 years. The car will have a value WAY over 26k after 3 years. Factor in sales tax, which would be around $5k in GA, and you would have a residual unpaid amount of about 31k, still WAY below market value. I suppose there is some value in not having to prep the car for sale and show it to buyers (or trade it), but I have never had any trouble selling vehicles that have been well cared for. I'm guessing that I can drive the **** out of my new paid for C2S for 10 years and put 120k miles on it and it will still be worth more than 26k, or I can drive the **** out of it for 3 years, sell it for around 60k and get me a new one. Of course, I could earn a whopping 3% in my money market and pay income tax on it or I could gamble in the market and hope to owe some captial gains tax down the road, but I've been burned there before. Real estate? Hell no. Convenience is the ONLY benefit I see to a lease, but I'm a financial simpleton. YMMV.

 

The relative inflexibility of the fixed term of a lease is very unappealing to me (mileage limits don't matter as it'll be my 2nd car), if I see a car I want in a couple years I don't want to have to hunt for someone to assume my lease. Porsche financing with a balloon payment may be the way to go for me, depending on what kind of interest rate they give me.