I leased my 355 for 60 months and sold it for the 1K less than the buyout price 16 months late. It helps to pick cars that won't depreciate too much. I leased two M3s and sold them each after 2 years. It usually takes about 2.5 years to get even in a 60 month lease from my experience. But if you are trading in that's probably 3.5 years. I sell mine outright thru Lambo Dallas, for a small fee, who stores my tax credit and then I buy my next one.
If you only keep cars a couple or three years like I do this is the best way to go IMHO.

 

355spider,

Are all of these cars you lease used when you lease them?? If so, I can see how that would work. I've never been able to get good lease rates on used cars. It's always cheaper for me to get them new.

Any more info would be appreciated.

Do you live in Texas?

Jason

 

Yes I see your point but that will only work with niche vehicles that stay in very high demand like the Ferraris and M3s. Try that with a Jaguar or Audi and you will get sodomized.

 

you are correct. if you took a 5 year lease on a 997tt, it could easily cost you 7-12 grand to get out half way thru.

 

Here is the general rule I came up with..

If your going to keep the car long term or put a lot of mileage on, buy it, either for cash or finance depending on the finance deal. (as stated, keep the cash earning 10% in an investment and pay the 5% financing charge, you still get 5% working for you in the back, stock, etc.)

For your daily driver, lease it. You can get into a new car every three years. (Unless of course you put a lot of mileage on the car.) If the car is in a bad but not totaled accident, as long as you have it fixed, you don't have to worry about the 2-3 panel accident depreciation. The lease company has to take it back with no penalty.

Here in California we don't get a tax credit for trade in's so it makes little sense to own the daily driver. Better off only paying the tax on the part of the car you borrow rather than on the full purchase price.

Now for a car like a 997TT which I assume for most is a second car. It makes no sense to lease because you won't use the 12,000 miles a year anyway. So why pay for it. That is what the bank is charging you for, 12,000 miles. So if you only use $5K, you just wasted $$$$ on the 7000 miles you never used.

If you flip cars all the time like 355, I have no advice for you. You probably get creamed but who cares, you have a new car every year..

B

 

Exactly right, especially for us Karl-ifornians. We bought ours, it will be a weekend car for us.

 

swapalease.com or leasetrader.com?
anyone ever use them?
a car like the TT would obviously get a lot of attention there.

 

Lease trader and swaplease are always more expensive than just going to the dealer and leasing a brand new one. Why lease a 2 year old car for $1300 a month when I can go to the dealer and get a brand new one for $1000?

Still like to here back from you 355spider.

 

Actually it's been a mix. Some used, some new. Go to Premier for open end leases on used cars. That's where I do all mine and it's always worked out great. And yes I live in Texas.

 

I guess "your" is the shortened form of the word "you're" for those with a 4th grade education?

 

boo,
Are you our new copy editor? I think we can ignore typo's, misspellings, and grammar errors in the interest of encouraging participation. AS

 

Except that b-line felt obligated to point out a typo of mine....

Something about glass houses........

 

touche'
AS

 

B, I agree mostly with you re leasing. But how could you lease a car like a TT and not drive it everyday?
Hell, I put 50k on my C4S, I think I got my monies worth! For tax reasons I probably will lease mine(997TT) and drive it daily, trick is to keep it within the miles limit
ch

 

Holy smokes!!! Sorry to hear that. It not only sounds cruel, but also bad for business. Time to vote in some good pol's.