My advice is: do your own due diligence by asking to see the early lease buyout language in the PFS lease. There is a lot of misinformation on this subject out there including people who will insist for an absolute fact that they know how this would work, and are mistaken. You probably won't get accurate information from the dealer either. Read the actual lease language.

 

Our 992 is at the port in SG and hoping to take delivery in the next 2 weeks. My dealer reached out about settling up and I asked him to run the lease numbers. The rate was so high that I thought maybe I'm missing something and searched the forum with the key word "lease" and came across your posts. (Others too and figured my quoted rate wasn't an outlier).

I just looked up NJ sales taxes, that's a great deal for you folks!!! Lot's of state specific rules, that no sales tax is great and looks like a separate state rebate too?

I also see that NJ is looking to phase out that EV sales tax break, it could be halved or worse at the end of a 39 month lease!

The issue with the Porsche Lease is that high money factor/interest rate of 11%. Many of us are up 10%-15% in the stock market this year but for that level of gain over the next 39 months is highly unlikely. So that interest rate is very problematic in a buy vs. lease comparison.

The one thing I was ask you to think about is resale. Lot's of new EV's coming to the market and nationwide EV sales penetration has stalled at the 7%-8% range. Ton's of incentives to move EV's ask a MB dealer, they are drowning in EV's they can't sell. With a lease you have a "put" on the price, in 39 months if your Macam isn't worth $61k you can walk away. If you're in the money, its great for you and can trade up/out if wanted. I've been in auto lending for 40 years, as a lender, when residuals are higher than market value, they all get turned in, when they have equity the consumer or selling dealer (who has the right of first refusal) grabs them all. Lease Lenders don't get the true upside.

With that said, I'm pro lease and tell folks to consider as you have options. In the case of EV's the vast majority are now leasing, partly due to incentives but more importantly to gain that put option. Tesla discounting has really hurt EV resale market. Take a look and Taycan, they are great cars and a great used car value. I would tell anyone that you really need to consider used on a Taycan since resdale has been soft.

Best wishes to you!!! I'm going to pay cash for our 911, but if the Porsche Finance lease rate was in the 6%-7% I'd go lease, let my cash keep working and more than likely buy it out in 3 years.

Good luck and enjoy your new Macan!!!!! Mike

 

Does Porsche do 24 month leases? I go through my business cars every 18 months or so because I drive a lot (25k+ miles a year). I was thinking that I get into a 2-year lease, get the $7,500 tax credit, and End of Term Lease Loyalty Program where PFS provides a waiver of 3 months of payment and up to 12 months if you get into a new Porsche lease. I'll have to talk to the finance manager at my dealer about this in more detail.

 

I’ve seen Porsche dealers in my area offer leases for 24/36/39 months.

 

Ok great, that takes care of one item. I'll find out how soon I can turn in the Macan before the 24 months are up to replace it with another Macan lease.

 

Let us know the details of the lease proposal!

 

Would highly suggest leasing instead of buying. I also lease a Mercedes EV - got it for a massive discount of 20%, plus additional incentives + $7500 tax credit. These things are all depreciating far worse than any ICE car - just look at Taycan incentives and massive 1 year depreciation. I guarantee you in 3 years the Macan EV will sell for less than 40% of MSRP, maybe even worse. EVs depreciate like computers - better software, better batteries, better charging tech every year means additional depreciation impact.

If you're buying/financing an EV at $120K, you're looking at a minimum loss of $60-70K in 3 years excluding taxes and transaction fees. There's a reason I outright own all my 911s and lease my EV :-) Just saying...

 

As you just mentioned, your Mercedes had tons of incentives/discounts on it. Porsche on a brand new car/model is a different story.

Leasing the Macan is *very* expensive - and if you can buy outright (not financing) and sell it after 3 rights, I’m not convinced it’ll have cost you more than the lease.

 

$60-70K is still less than what it appears the leasing will cost in the same amount of time. But I also think anyone buying with the thought to sell it in a few years is wasting a massive amount of money. I mean it's their money so they can do whatever they want, just feel like you should buy this car with the idea to drive it at least till the battery warranty ends (8 years) to get your money's worth.

 

Totally agree with you. If getting any EV leasing is the only way to go. These things are changing so quickly. Especially, as the Macan EV does not even come with NACS yet. No way would I buy any non NACS vehicle, only lease.

 

Absolutely. I understand EV tech continues to evolve, but one should be able to plan to buy any vehicle to use for at least 5 to 10 years. Any panic to plan to move on in 3 years is simply the lust of the shiny new toy in the window. Absent massive quality issues by Porsche, there is no way one can’t get normal life expectancy out of this vehicle. Will a new EV charge faster and run farther in 3 years, yeah that’s highly likely, but I fully expect to still enjoy this car. My current daily driver is a 2007 E350. Lacks every imaginable current tech and safety feature, but I still find it to be a strikingly timeless MB e-class design, and every additional year I drive it makes it a better financial decision. To each their own, but I say buy a car you fall in love with and enjoy the hell out of it for as long as you can.

 

Leasing, by itself, is not a solution to minimize « losses ».
But leasing + incentives + 0% rate for sure is a good deal for people who change car every 3 years.
There is no way to have huge discount/incentive on a Macan EV (1-2% max discount on MSRP? Moreover, it is not correlated with leasing), so we have to pay it and enjoy it without stress!

Canˋt wait, 7 weeks to go

 

Did you manage to get a discount on your Macan EV?

 

It is a matter of principle!
And the discount itself was so low, that it was also a matter of principle ;-)

 

The Macan EV would be my business car and I go through these business cars every 18 months or so because I drive a lot and don't want to be out of warranty. I can deduct the lease payment or the loss on sale if I buy the car outright. I need to run the numbers to see how a 2-year lease looks and if I can flip into a new Macan EV lease between year 1-2 without penalty. I think rates will be coming down slightly so that'll help the money factor a bit.