2011 GT3 RS for sale/lease assumption (PRICE DROP)
11-29-2011, 11:47 PM
#1
2011 GT3 RS for sale/lease assumption (PRICE DROP)
Available for taking over my lease or purchase:
Buy it now price:
$119,800 stock
$121,800 with all of the track goodies, set up and ready to go
2011 GT3 RS, Grey/Blk with red accents, factory wheels are silver (not red). Car is in beautiful shape and well cared for (dealership and independent Porsche mechanic can verify). No accidents, no paint work. The car was almost never driven in the rain (a few times when it had to go to the dealer) and no snow or salt. The entire car except the rear bumper has clear bra on it so paint beneath should be nearly perfect. Car has about 8500 miles on it, more than 60% of which were driven on the street. I have been a Rennlist member for over 4 years now and many members of the community can vouch for me. The car is also well known locally so it’s condition can be easily confirmed.
Options:
grey/blk paint
Complete car clear bra including full front, roof and sides (small area in rear not done due to engine and exhaust)
Wheels painted silver
Front Axle Lifting System
PCM 3.0 w/extended Nav
Sound Package Plus
Cupholders
Dynamic Cornering Lights
Bluetooth Phone and iPOD Interface
XM Radio
Sport Chrono Package Plus
Door Entry Guard Aluminum with lighted GT3 RS logo
Foot Rest Aluminum
Pads have about 50-60% material left, rotors are in great shape with only a hint of spidering, front tires still have lots of life on them (Pirelli PZero Corsas) but the rears are getting low, fine for dry weather driving but not recommended for rain. There are track goodies on it now (Das Sport bar powder coated red, Schroth harnesses, brey-krause fire extinguisher mount and red extinguisher, front and rear drop links with protective booties, rear toe links, and a decent track alignment). These are not included as part of the lease swap but can be negotiated in (basically, they can be included for half the original cost of the parts themselves). The car is a WELL SORTED package as it sits right now, representing almost a year of tweaking.
Original car MSRP was $151,465. Lease term is 60 months, 12,000 miles per year, and I have already made 16 payments, so there 44 left. The taxes for the ENTIRE lease term were paid for up front ($10,645) so this is a huge benefit for whoever takes over the lease as I consider this my sunk cost. Payments are $2534 but the residual is only $25,000 at lease end so this is perfect for someone who can use the car for business purposes and deduct a percentage. Lease is with US Bank. Transfer can be done either through a lease broker or through Swap-a-lease.com. I believe there is a $500 transfer fee that you would be responsible for. Otherwise, subject to bank approval, it would be a clean swap. I have basically paid off most of the taxes and interest so this is a great deal for someone who wants a beautiful car. Makes a great holiday gift too. PM me for me details. I can take more photos when the weather is better.
Buy it now price:
$119,800 stock
$121,800 with all of the track goodies, set up and ready to go
2011 GT3 RS, Grey/Blk with red accents, factory wheels are silver (not red). Car is in beautiful shape and well cared for (dealership and independent Porsche mechanic can verify). No accidents, no paint work. The car was almost never driven in the rain (a few times when it had to go to the dealer) and no snow or salt. The entire car except the rear bumper has clear bra on it so paint beneath should be nearly perfect. Car has about 8500 miles on it, more than 60% of which were driven on the street. I have been a Rennlist member for over 4 years now and many members of the community can vouch for me. The car is also well known locally so it’s condition can be easily confirmed.
Options:
grey/blk paint
Complete car clear bra including full front, roof and sides (small area in rear not done due to engine and exhaust)
Wheels painted silver
Front Axle Lifting System
PCM 3.0 w/extended Nav
Sound Package Plus
Cupholders
Dynamic Cornering Lights
Bluetooth Phone and iPOD Interface
XM Radio
Sport Chrono Package Plus
Door Entry Guard Aluminum with lighted GT3 RS logo
Foot Rest Aluminum
Pads have about 50-60% material left, rotors are in great shape with only a hint of spidering, front tires still have lots of life on them (Pirelli PZero Corsas) but the rears are getting low, fine for dry weather driving but not recommended for rain. There are track goodies on it now (Das Sport bar powder coated red, Schroth harnesses, brey-krause fire extinguisher mount and red extinguisher, front and rear drop links with protective booties, rear toe links, and a decent track alignment). These are not included as part of the lease swap but can be negotiated in (basically, they can be included for half the original cost of the parts themselves). The car is a WELL SORTED package as it sits right now, representing almost a year of tweaking.
Original car MSRP was $151,465. Lease term is 60 months, 12,000 miles per year, and I have already made 16 payments, so there 44 left. The taxes for the ENTIRE lease term were paid for up front ($10,645) so this is a huge benefit for whoever takes over the lease as I consider this my sunk cost. Payments are $2534 but the residual is only $25,000 at lease end so this is perfect for someone who can use the car for business purposes and deduct a percentage. Lease is with US Bank. Transfer can be done either through a lease broker or through Swap-a-lease.com. I believe there is a $500 transfer fee that you would be responsible for. Otherwise, subject to bank approval, it would be a clean swap. I have basically paid off most of the taxes and interest so this is a great deal for someone who wants a beautiful car. Makes a great holiday gift too. PM me for me details. I can take more photos when the weather is better.
Last edited by johnr265; 12-09-2011 at 09:18 PM.
11-30-2011, 06:58 PM
#3
Yeah, Porsche Financial wouldn't lease it but because I have worked with this lease broker for a few years, he was able to arrange it through US Bank. I am getting a buyout quote tomorrow. The lease assumption let's you pay it out over a longer period of time, effectively lowering the cost of the money, plus if you can deduct mileage for business, there is a tax savings as well. This puts the cost for the car well below what the current market value is.
Last edited by johnr265; 12-02-2011 at 10:23 PM.
11-30-2011, 11:34 PM
#4
Rennlist Member
What is your plan for replacement? Going with a dedicated track car?
BTW, I know the car and it is meticulously maintained.
BTW, I know the car and it is meticulously maintained.
12-01-2011, 12:06 AM
#5
Yes, likely something more dedicated but I haven't gotten very far along in plans for that until I find a new home for the beast.
By the way, I forgot to mention that I bought the tire and rim protection for 3 years and that is transferable for a $25 transfer fee.
By the way, I forgot to mention that I bought the tire and rim protection for 3 years and that is transferable for a $25 transfer fee.
Gorgeous gorgeous RS!
12-01-2011, 01:28 PM
#7
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what is the interest rate? will the bank allow it to be transferred at the same rate or will they adjust according to individual?
can the car be purchased outright with no interest penalty?
can the car be purchased outright with no interest penalty?
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12-01-2011, 02:34 PM
#8
It's a lease, so there shouldn't be an interest rate. There's a Money Factor (rent factor) that's part of the payment...
There has to be a payoff for the car, in which case you can payoff the car or have a bank finance the payoff for you. If taxes were paid in advance, and residual is only $25k at lease end, the pay schedule is very aggressive. If OP has made 16 payments, then he's paid about $40,500 out of the $152,400 ($2534 x 60) which should make the payoff in the 110 -125 range depending on the money factor.
There has to be a payoff for the car, in which case you can payoff the car or have a bank finance the payoff for you. If taxes were paid in advance, and residual is only $25k at lease end, the pay schedule is very aggressive. If OP has made 16 payments, then he's paid about $40,500 out of the $152,400 ($2534 x 60) which should make the payoff in the 110 -125 range depending on the money factor.
12-01-2011, 03:07 PM
#9
Nordschleife Master
It's a lease, so there shouldn't be an interest rate. There's a Money Factor (rent factor) that's part of the payment...
There has to be a payoff for the car, in which case you can payoff the car or have a bank finance the payoff for you. If taxes were paid in advance, and residual is only $25k at lease end, the pay schedule is very aggressive. If OP has made 16 payments, then he's paid about $40,500 out of the $152,400 ($2534 x 60) which should make the payoff in the 110 -125 range depending on the money factor.
There has to be a payoff for the car, in which case you can payoff the car or have a bank finance the payoff for you. If taxes were paid in advance, and residual is only $25k at lease end, the pay schedule is very aggressive. If OP has made 16 payments, then he's paid about $40,500 out of the $152,400 ($2534 x 60) which should make the payoff in the 110 -125 range depending on the money factor.
is this correct? I know nothing about leases
12-01-2011, 03:46 PM
#10
I would bet a couple of beers the straight payoff is in the low 110's (or lower) according to the information provided...
Could be higher if there is something weird in the lease, but should be close...
Could be higher if there is something weird in the lease, but should be close...
12-01-2011, 04:36 PM
#11
Burning Brakes
12-01-2011, 06:28 PM
#12
OK, according to my lease broker, the buyout price is $123,800. As he is a "dealer" if you are buying it in NJ, there would be almost no purchase tax because it was paid up front on all but 25k and if you are in another state but wanted to trade in a car, he can apply a tax discount as you would with any car dealer.
12-01-2011, 06:37 PM
#13
It's a lease, so there shouldn't be an interest rate. There's a Money Factor (rent factor) that's part of the payment...
There has to be a payoff for the car, in which case you can payoff the car or have a bank finance the payoff for you. If taxes were paid in advance, and residual is only $25k at lease end, the pay schedule is very aggressive. If OP has made 16 payments, then he's paid about $40,500 out of the $152,400 ($2534 x 60) which should make the payoff in the 110 -125 range depending on the money factor.
There has to be a payoff for the car, in which case you can payoff the car or have a bank finance the payoff for you. If taxes were paid in advance, and residual is only $25k at lease end, the pay schedule is very aggressive. If OP has made 16 payments, then he's paid about $40,500 out of the $152,400 ($2534 x 60) which should make the payoff in the 110 -125 range depending on the money factor.
12-01-2011, 07:21 PM
#15
I think you might be right. I forget if a lease is either Cap cost - total payments (my original assumption) or residual + remaining payments (your assertion).
If the second is true, then your payoff would be $136 K. If he can sell the car for $123,800 that's like $13K of free money...
Did you trade your 04 GT3 in for this car or did you just turn in your previous lease?
Car is spectacular BTW. I really, really like the silver wheels...
If the second is true, then your payoff would be $136 K. If he can sell the car for $123,800 that's like $13K of free money...
Did you trade your 04 GT3 in for this car or did you just turn in your previous lease?
Car is spectacular BTW. I really, really like the silver wheels...
Last edited by JJE997.2RS; 12-01-2011 at 07:41 PM.