Financing or Buying Outright? How will You Pay??
05-14-2011, 08:03 AM
#62
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But what is "the thing" worth when you own it. Presumably the difference s 24 more payments plus the $15k deposit, so around. $60,000 more. Is the car still worth that much after 5 years. I think that may be the magic question.
Also, since I am about to get a GT3, I'd love some expert opinion. Over here in the UK, 2004 GT3s are around $60,000 but for $75,000 I can jump 3 years and one generation forward. I had assumed the 996 was holding value better but I saw the comment about the 996 GT3 depreciation issue, so now I'm not sure. I have around $75,000 to play with, but would like to get $40-45,000 back after 4 or 5 years, so some depreciation is acceptable, but I want to make the smart call. So, late 996 or early 997. Opinions please.
Many thanks, NIck
Also, since I am about to get a GT3, I'd love some expert opinion. Over here in the UK, 2004 GT3s are around $60,000 but for $75,000 I can jump 3 years and one generation forward. I had assumed the 996 was holding value better but I saw the comment about the 996 GT3 depreciation issue, so now I'm not sure. I have around $75,000 to play with, but would like to get $40-45,000 back after 4 or 5 years, so some depreciation is acceptable, but I want to make the smart call. So, late 996 or early 997. Opinions please.
Many thanks, NIck
Independent lease companies will lease the car to you, but these are "open-end" leases where you are responsible for the value of the car at the end. In this scenario, if you choose not to purchase the car at end of lease, you are financially responsible to make up for any difference between market value and residual. So if the car is beat, has repaired body damage, or for any reason is worth less than residual value, you pay the difference.
In fact, Porsche Financial Services will not even finance a GT3, RS, or GT2 RS. You would have to obtain your own financing if not paying cash.
05-14-2011, 11:17 AM
#64
If we were going to be smart financially, we wouldn't but depreciating assets at all. Including homes at the moment. It's expensive to have any car. Leasing has a high embedded interest rate. It always costs more to use someone else's money.
05-14-2011, 01:44 PM
#67
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05-14-2011, 03:22 PM
#69
GT3 player par excellence
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PFS will finance ALL porsches rs or not, inc cgt and 918
lease is different
no lease on rs
but will lease on gt3
lease is different
no lease on rs
but will lease on gt3
05-15-2011, 12:52 AM
#71
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^ yes, as i said. PFS will finance anything they make. but PFS will not lease RS.
05-15-2011, 12:48 PM
#72
05-21-2011, 10:11 AM
#74
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I've paid cash for each of 5 successive cars over the last 24 years, rolling the equity of each one into the purchase of the next, more expensive car. I have no idea if I could have saved anything by leasing. But I've slept well at night for all of those years, and have truly enjoyed the ownership experience of each one along the way. If the GT3 were totalled tomorrow, I would add enough cash to the insurance payment in order to move up to a GT3-RS. For me, it's all about momentum.
05-21-2011, 10:42 AM
#75
I cant keep a car for more than a year, I have my GT2, and is the best car I ever had, and I'm looking into a GT3. I think I need help. Trust me, I love my GT2, I want this specific car, and if someone wants the car, I would sell with no regret... and no, I'm not a car dealer. It's just the experience.