2020 Macan S lease buy out
09-22-2022, 09:18 AM
#16
Drifting
Technically this is not your car. With that, you should be able to trigger an extended warranty when you buy it out. Depending on your price threshold, either a Porsche warranty or an aftermarket one. if you are financing through a Porsche franchise, they can help you out. Be careful on their offers. You can ask for a discount and you can shop it out to other dealers as well.
Don’t be scared at owning a Porsche nearing the end of the warranty period. Just be prepared and as knowledgeable as you can. Better the devil you know…
My 2016 was bought off of lease, with Porsche extended factory warranty, 6 year unlimited kilometers, which has sadly come to an end.
Don’t be scared at owning a Porsche nearing the end of the warranty period. Just be prepared and as knowledgeable as you can. Better the devil you know…
My 2016 was bought off of lease, with Porsche extended factory warranty, 6 year unlimited kilometers, which has sadly come to an end.
Last edited by BIG smoke; 09-22-2022 at 09:21 AM.
09-22-2022, 06:00 PM
#17
Yes, PFS sent the new buyer the title, I also purchased an extended warranty before I sold it, and that was factored into the sales price. PFS was really easy to work with, but this was 11 years ago.
The following users liked this post:
Car-dude (09-23-2022)
09-23-2022, 08:43 AM
#18
I am not 100% sure on this as I have not gone through the process with Porsche Financial, but I have read that they, like the rest of VAG, charge a higher price for third party lease buyouts. This is better than some other brands, which do not allow third party lease buyouts altogether. Again, the pandemic run on used automobiles has created some crazy conditions.
In answer to your other question, depending on how backlogged things are at Porsche Financial, obtaining your title could take months, not weeks. There are some folks on Reddit who have some horror stories such as this one which was paid off in June and title not received until October: https://www.reddit.com/r/askcarsales...cial_services/
You also may be liable for the sales tax on the buyout amount depending on your state and how quickly you can turn around and change the title on it.
This does not mean that buying out your lease is a bad idea. It is a great idea, there just may be some complications to be prepared for.
In answer to your other question, depending on how backlogged things are at Porsche Financial, obtaining your title could take months, not weeks. There are some folks on Reddit who have some horror stories such as this one which was paid off in June and title not received until October: https://www.reddit.com/r/askcarsales...cial_services/
You also may be liable for the sales tax on the buyout amount depending on your state and how quickly you can turn around and change the title on it.
This does not mean that buying out your lease is a bad idea. It is a great idea, there just may be some complications to be prepared for.
09-23-2022, 08:44 AM
#19
Technically this is not your car. With that, you should be able to trigger an extended warranty when you buy it out. Depending on your price threshold, either a Porsche warranty or an aftermarket one. if you are financing through a Porsche franchise, they can help you out. Be careful on their offers. You can ask for a discount and you can shop it out to other dealers as well.
Don’t be scared at owning a Porsche nearing the end of the warranty period. Just be prepared and as knowledgeable as you can. Better the devil you know…
My 2016 was bought off of lease, with Porsche extended factory warranty, 6 year unlimited kilometers, which has sadly come to an end.
Don’t be scared at owning a Porsche nearing the end of the warranty period. Just be prepared and as knowledgeable as you can. Better the devil you know…
My 2016 was bought off of lease, with Porsche extended factory warranty, 6 year unlimited kilometers, which has sadly come to an end.
The following users liked this post:
Car-dude (09-23-2022)
10-05-2022, 11:34 AM
#21
Hey folks - looking to get an opinion on buying my lease out. Just a couple of months before the world shut down I leased a 2020 Macan S. Amazing car but due to world circumstances I only have about 10k miles on it nearly 3 years.
My lease expires March of 23, so I’m doing a bit of planning now on my next move. My lease buy out is $41k and the car is worth about $55 - $60k range I’d say.
I’m debating buying and just continuing to drive it since I can’t really get anything else cheaper than that or buying it and selling it privately to fund another purchase.
this is the first time (and likely last time) I’ve leased a vehicle, so I’d appreciate some advice on what folks would do here?
My lease expires March of 23, so I’m doing a bit of planning now on my next move. My lease buy out is $41k and the car is worth about $55 - $60k range I’d say.
I’m debating buying and just continuing to drive it since I can’t really get anything else cheaper than that or buying it and selling it privately to fund another purchase.
this is the first time (and likely last time) I’ve leased a vehicle, so I’d appreciate some advice on what folks would do here?
Good luck with the purchase.
-Mack
01-11-2023, 10:17 AM
#22
Hi folks - so the moment of truth is upon me. How does every feel given the current environment about buying out my 2020 Macan S lease? It's basically $43k even (no tax). I only have 12k miles on it.
What is everyones updated thoughts?
What is everyones updated thoughts?
01-14-2023, 11:32 AM
#23
Buy it!
01-14-2023, 02:36 PM
#24
Racer
it’s a no-brainer to buy it, but how do you plan on titling the car in your name without paying sales tax?
01-14-2023, 07:23 PM
#25
No brainer to buy. I’ll be purchasing my 2021 GTS in December. Best car I ever owned. Drive less than 10k miles per year. Will probably purchase extended warranty. Must do before original warranty expires.
01-15-2023, 01:01 PM
#26
I wouldn't be so enthusiastic, doing a quick look at trade in values and you're in the $45-50k range for trade in - and that may be a little high - the local dealer has a 2020 S for just over $51k, another with similar miles for $54k (both with CPO). How much are you going to be all in for once you factor in buyout plus sales tax? Around here, sales tax would add another $3k'ish to the total, but tax is calculated differently on leases in many states.
To be clear, I don't think you'll be upside down, but you're asking for a lot of hassle for maybe not a lot of money. The 'easy' answer is to get a quote from the various online car buyers and see what they would offer (you can do everything online with them, you can get a legit quote in about 5 minutes) and/or go to Carmax and see what they offer.
To be clear, I don't think you'll be upside down, but you're asking for a lot of hassle for maybe not a lot of money. The 'easy' answer is to get a quote from the various online car buyers and see what they would offer (you can do everything online with them, you can get a legit quote in about 5 minutes) and/or go to Carmax and see what they offer.
01-15-2023, 01:03 PM
#27
Rennlist Member
Yes getting quotes is a fair point. At low mileage I’m thinking he can get $55k, so about $10k of upside value. But it may not matter if all he’s planning on doing is driving it and not selling it.
new 2023 Macan S to replace it with are close to $80k well equipped (or more), for not much of a difference. So $43k is still a savings.
new 2023 Macan S to replace it with are close to $80k well equipped (or more), for not much of a difference. So $43k is still a savings.
Last edited by Scorponok; 01-15-2023 at 01:06 PM.
01-18-2023, 11:53 AM
#28
I did! Sent a check in, waiting for everything to get processed by PFS
In Virginia tax is settled when you sign the lease contract up front, so when/if you go to buy it, there is just the residual payment, minor DMV fees and nothing more.
Awesome - and yes, I could have gotten it CPO'd but that would have meant buying it via the dealership and they were going to tack on over $1500 in fees + the cost of the CPO (which was a reasonable $2200 for +2 years). The $1500 in fees was silly since all you have to do is go to the DMV to register the car once you have the title.
You make a good point for sure, I think it's probably hovering around low $50s perhaps, give or take a few K.
Yes, this is very true - new Macan S's are in the low ~$80ks. Not worth upgrading at my low mileage, would rather wait for the Macan EV perhaps.
I wouldn't be so enthusiastic, doing a quick look at trade in values and you're in the $45-50k range for trade in - and that may be a little high - the local dealer has a 2020 S for just over $51k, another with similar miles for $54k (both with CPO). How much are you going to be all in for once you factor in buyout plus sales tax? Around here, sales tax would add another $3k'ish to the total, but tax is calculated differently on leases in many states.
To be clear, I don't think you'll be upside down, but you're asking for a lot of hassle for maybe not a lot of money. The 'easy' answer is to get a quote from the various online car buyers and see what they would offer (you can do everything online with them, you can get a legit quote in about 5 minutes) and/or go to Carmax and see what they offer.
To be clear, I don't think you'll be upside down, but you're asking for a lot of hassle for maybe not a lot of money. The 'easy' answer is to get a quote from the various online car buyers and see what they would offer (you can do everything online with them, you can get a legit quote in about 5 minutes) and/or go to Carmax and see what they offer.
Yes getting quotes is a fair point. At low mileage I’m thinking he can get $55k, so about $10k of upside value. But it may not matter if all he’s planning on doing is driving it and not selling it.
new 2023 Macan S to replace it with are close to $80k well equipped (or more), for not much of a difference. So $43k is still a savings.
new 2023 Macan S to replace it with are close to $80k well equipped (or more), for not much of a difference. So $43k is still a savings.