wbgordon

I lease my '07 997S. My wife is infamous for uttering the words, "So what -- it's only a lease car," whenever a ding or scratch on my 997S sends me up a wall. That only makes me more upset.

I'm wondering if others think like me or my wife. Because it's a leased car, should we care less about the appearance or maintenance of our beloved 911? At the rent price I pay each month for depreciation plus interest, it's to me no different than owning. I care. A lot.

Alan Smithee

I'd say that the "so what - it's only a lease car" attitude is fine if you are upside-down and have no choice but to give the car back at lease end (although they will, of course, charge for more than the most minor of damage). However, with 997 lease residuals as low as they are compared to market value, one would have to be crazy not to sell privately...in which case, you would want it well taken care of.

Last month I sold my ding-free (but not scratch free) 997 ~3 months before the end of the 48 month lease for $9k more than the residual/payoff. For those that don't want to be bothered with the process, I invested $45 in an AutoTrader ad, and spent 15 minutes showing the car before agreeing on a price. Easiest $9k I ever made.

cole328

Not at all....does renting a house make one want to live like a "slob"? I agree with Alan As has been debated on here way too much, leasing is simply a different way of financing a car....with its own pros and cons I lease all of my cars, but definitely take care of them.

Sharptt

If you lease it's not your car, the leasing company owns it and you are renting it. Most of my friends who lease their Porsches treat them like rental cars. They also are afraid to make any mods since they know they will have to spend $$ to return the car to stock when it is time to turn it in. Are there exceptions to the rule? Of course. Does it make any difference to you is the real question.

saltydawg

I have leased numerous cars. During the first part of the lease, I treat the car as if I owned it. However, as I get later and later into the lease, particulary if I know I will be returning it, the car seems much more like a rental. You certainly still have to be careful with damaging the car but my care level drops off substantially the last six months of the lease. I am currently considering a new 911 which I plan to own.

wbgordon

I tend to agree with that. In fact, not only do I feel detached from the car six months from the end of the lease, I'm usually in talks with the dealer about replacing it.

MartyB

Care less? Probably.
Pay more? Yep.

jcnesq

I had previously leased several 911s but own my current 997S. I took very good care of the leased ones (and got equity out of them rather than turning them back). But there is a greater attachment for me in owning, plus its easier to spend on upgrades with an owned car. So yeh, I think there is a little psychological difference.

Sadiq

i'm lost... why lease???

axhoaxho

If the lease is constructed correctly, a considerable tax write-off benefit for people who own their business. Of course, consult with our CPA and attorney for details, and do it in a legitimate way.

In my case, my CPA quotes, "Your car bascially pays for itself."

Regards,

No HTwo O

Who wants to drive around in a dirty, dingy, dinged-up car? Regardless if it is owned or leased.

abe

I wonder how many people change the oil every 3500 to 5000 miles like I do. I own my car and I know I will keep it for a long long time...I also know that if I leased, I would have followed the company oil change recomendation.
abe

Sadiq

ah yes... i hope the people on this board who are leasing are doing just that.

wbgordon

I am, which is one major reason why I lease. The tax writeoff obviously doesn't cover the entire monthly payment, but the net cost is considerably less than owning. Which brings me to this: A 997, as nice a car as it is, is still not an asset. It is a cost item. Would you rather rent or own a cost? (UPS leases its jets and Walmart leases its cash registers.) Any way you slice it, you are paying for the car's depreciation. Why not reduce that cost? The argument for owning seems to revolve around add-on items and length of ownership. As an owner of a '99 996 C4 whose $25k engine case cracked but 2k miles prior to the warranty running out, I can tell you I would NEVER want to drive one of these vehicles out of the warranty.

And regarding oil changes, I changed mine initially at 2k against the dealer's advice because I felt that was the right thing to do. I change every 5k thereafter. I lease to reduce cost, but respect the car. Again, the only part of leasing where I feel like I'm leasing is the final six months. I'm ready to move on then. And, yes, I too I have gained equity on lease turn-ins as well, in my case from a dealer that wanted my future lease business. Should Porsche drop residuals further, then I might consider owning.

Carrera Mike

Wbgordon,

Thanks for posting this interesting question. I have been wondering myself for a while. My second porsche was a lease return and always wondered how it was treated.