spiderv6

Have done it twice, about to do it a third time. ONLY way to go.

sbpsu354

I'm on my second and will do it a third time

rijowysock

I'm with the second gentleman..

if you lease it (Take each month, multiplied by the months... its INSANE.. say 3k/mon*36=108k!.. (used the online lease calculator for estimate)...

if you finance it, the interest add's up so fast its insane (unless u get 1.9/2.9% thru a special offer)

i would only outright buy the cars (given other things in life like house andsuch are lower interest rate) or if you applied for a special finance offer do that.

the lease is just retarded tho, u could drive the car off a cliff and it wouldnt depreciate 108k in 3 years.

GR997S

+ 3. Just bought 09 cayenne gts,cpo,cash.....gr

403portside

Agree with winkingchef, with one exception - pay cash only if (a) u want to remove the psychological burden of having a payment or (b) the loan interest rate is higher than what you could earn on that cash in other investments.

daddyscar

In CA you pay sales tax on the amount you rent. So for a $90k car at 9% sales tax, you'd pay $8100 in sales tax if you finance. Say the residual is 50% for a 3 year lease, than you'd pay half that on a lease. Also in CA, if you trade-in a car to buy another, than you pay sales tax on the full amount of the car you're purchasing, not just the difference like in some states.

Best deal is still buying a cpo model.

Porsche917K

My thoughts exactly. I don't know why more people don't look at it this way.

purrybonker

Because financing expenses to facilitate investments is unsustainable over the longer term as a personal finance philosophy. The financial equivalent of the perpetual motion machine. Risk is the missing fly in that snake oil and it will always win out in the long term.

Leveraging investments can make sense, borrowing to pay expenses only inflates that expense by the capital cost. It is typically a death-knell practise of a failing business, so how can that EVER be a good financial practise for a consumer?

Such foolhardy behaviour is best left to governments and is not the activity of rational consumers.

Anyway, I expect that the vast majority of people leasing or financing new Porsches do so because they lack the available cash, not because the decision has been rationalized on such a basis.

Just buy CPO and pay cash.

Hella-Buggin'

I would agree as long as one is disciplined enough to put that money aside and not spend it.

403portside

Sorry, I think you're wrong. We're not talking about using this approach for all personal finance decisions. That would of course, be leveraging yourself to the hilt against expenses and depreciating assets. Very stupid.

In this case, we are talking about a single car purchase. Do you want to write that check or finance all or most of it? This is about cash management, plain and simple. I have the cash to buy several 911s but decided to buy a gently used CPO, and finance part of it and pay cash for part of it. For the amount I financed, I've already earned more in the market on that additional cash I have on hand over the past 7 months, than the total interest I will be paying on that amount borrowed (based on a good interest rate I received from Porsche financial). And I'm not a super aggressive investor.

I fully respect folks who want to write that check and be done with it. I may do that for my next car just so I don't have to see another payment every month. But your characterization of financing a car goes a bit too far.

boolala

I never financed any car instead paying cash for all my vehicles. My opinion has since changed 180 degrees and I do not want to own any more vehicles in the future. I've indicated why above and so far not a single response has adressed my objections.

TommyV44

"Anyway, I expect that the vast majority of people leasing or financing new Porsches do so because they lack the available cash, not because the decision has been rationalized on such a basis."

And you base this on what.......your superior intellect? Your unique understanding of the financial picture? Give me a break!

Tom

boolala

You know I actually agree with purrybonker on this one matter. I do think that the great majority of people who lease are looking for the lowest monthly payment which can only be achieved by relinquishing any equity in the vehicle.

But not everyone. For some people it does make more sense to lease from a tax perspective and for others different considerations come into play.

Hey I don't need to be convinced of the value of a cash transaction. Heck, I have previously paid cash not only for my cars but also for my house!

But I've changed my mind about these things. I wish I had leased (rented) my house too!

utkinpol

despite of how much I like new car smell I got my car when she was 3 years old, CPO, and did cost me 51.2% of its original price. such toys are worth to be bought for cash only unless you can legally write off 100% of lease from your taxes as whatever 'expense'.

to 'boolala' - 997 kind of car lasts for long, long time. see how many 993 cars are still out there. if you blow your engine you just put in a new one. so if you buy it - you will enjoy it for decades.
if you lease - in 2 or 3 years you will end up paying about of 60% of its price and will be left with no money and no car. so unless you can offset all those lease expenses in your taxes - it makes no sense.

petee1997

The person who buys a Porsche as a DD is getting value out of the car as a means of transportation and leasing or financing the vehicle makes a certain amount of sense. On the other hand a person like myself and many others who have these cars as a toy, should only do so on a cash basis. The car serves no purpose other than personal enjoyment and is not a primary means of transportation. My wife keeps telling me that I must hate my money to spend it on a car that is unnecessary and seldom driven. At least when the money is gone, it's over. Imagine listening to her every month when you are making the payment. After a certain amount of time that would become unbearable and the car would have to go.