Is this a good lease for a gt3?
07-23-2007 | 06:40 PM
#33
Instructor
Joined: May 2007
Posts: 139
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i hate leasing.
the last time i leased a car (on the advice of my CPA) i got so frigging hosed from a cash-out-the-door standpoint (and I'm still on an filing extension so the NPV of any tax gain got hosed a while back too).
then when i wanted to get out of the lease...you would have thought I was trying to finance a bond issue it was so obtuse. If I bought out the lease then I would have to pay sales tax on the entire the buyout price. WTF? I paid sales tax on the car every month I drove it. Not so says California DMV, you only paid sales tax on the part of the lease you used. So after going to X dealers and getting lowballed, the guy in denver with a warehouse full of gt3rs cars bailed me out of the lease and put me in a gt3.
it's a porsche. i want to drive it, flip, mod it, export it, sell it, trade it do whatever because its mine and if you lease it the car it belongs to the bank and if you change your mind they will not change their paper and you may find yourself SOL or severly inconvienenced at the least.
Yes, i know, for some people is great, but from this day on i will only buy p-cars in cash.
the last time i leased a car (on the advice of my CPA) i got so frigging hosed from a cash-out-the-door standpoint (and I'm still on an filing extension so the NPV of any tax gain got hosed a while back too).
then when i wanted to get out of the lease...you would have thought I was trying to finance a bond issue it was so obtuse. If I bought out the lease then I would have to pay sales tax on the entire the buyout price. WTF? I paid sales tax on the car every month I drove it. Not so says California DMV, you only paid sales tax on the part of the lease you used. So after going to X dealers and getting lowballed, the guy in denver with a warehouse full of gt3rs cars bailed me out of the lease and put me in a gt3.
it's a porsche. i want to drive it, flip, mod it, export it, sell it, trade it do whatever because its mine and if you lease it the car it belongs to the bank and if you change your mind they will not change their paper and you may find yourself SOL or severly inconvienenced at the least.
Yes, i know, for some people is great, but from this day on i will only buy p-cars in cash.
07-23-2007 | 08:40 PM
#34
GT3 player par excellence
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Joined: Apr 2002
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From: san francisco
Originally Posted by 007GT3
i hate leasing.
the last time i leased a car (on the advice of my CPA) i got so frigging hosed from a cash-out-the-door standpoint (and I'm still on an filing extension so the NPV of any tax gain got hosed a while back too).
then when i wanted to get out of the lease...you would have thought I was trying to finance a bond issue it was so obtuse. If I bought out the lease then I would have to pay sales tax on the entire the buyout price. WTF? I paid sales tax on the car every month I drove it. Not so says California DMV, you only paid sales tax on the part of the lease you used. So after going to X dealers and getting lowballed, the guy in denver with a warehouse full of gt3rs cars bailed me out of the lease and put me in a gt3.
it's a porsche. i want to drive it, flip, mod it, export it, sell it, trade it do whatever because its mine and if you lease it the car it belongs to the bank and if you change your mind they will not change their paper and you may find yourself SOL or severly inconvienenced at the least.
Yes, i know, for some people is great, but from this day on i will only buy p-cars in cash.
the last time i leased a car (on the advice of my CPA) i got so frigging hosed from a cash-out-the-door standpoint (and I'm still on an filing extension so the NPV of any tax gain got hosed a while back too).
then when i wanted to get out of the lease...you would have thought I was trying to finance a bond issue it was so obtuse. If I bought out the lease then I would have to pay sales tax on the entire the buyout price. WTF? I paid sales tax on the car every month I drove it. Not so says California DMV, you only paid sales tax on the part of the lease you used. So after going to X dealers and getting lowballed, the guy in denver with a warehouse full of gt3rs cars bailed me out of the lease and put me in a gt3.
it's a porsche. i want to drive it, flip, mod it, export it, sell it, trade it do whatever because its mine and if you lease it the car it belongs to the bank and if you change your mind they will not change their paper and you may find yourself SOL or severly inconvienenced at the least.
Yes, i know, for some people is great, but from this day on i will only buy p-cars in cash.
there are some exceptions: like if you have an RS, with 200 miles on it. sure you will be ok. but, i would have covered more than 200 miles in the first 1/2 day of my ownership of any car.
