mahens

Hi All,
Looking for your suggestion/ experiences in buying out my Porsche Macan car lease. My Lease ends by this month. I drove around 17K mile and had residual amount around 40K. Thinking whether I should buy out lease because I'm not getting any better deal. If I buyout what are the additional charges dealer will add ?. How much approximate cost will levied on me. I live in Seattle, Washington State.

NJR1986

They will base the buyout on the vehicles residual value to them. You will then be taxed on that amount. Every dealer is a little different, but you really shouldnt pay anything other than that. Hope this helps

Ironman88

If you exercise your option to purchase the vehicle at the conclusion of the lease, the purchase option price should be equal to the residual value that is specified in your lease document. Some leases also specify a purchase option fee in the document itself. It may show a value there, and if so, you'll have to pay that. In many instances however, the purchase option fee will show "N/A" - hopefully that is the case in your situation.

The lease may have language that states "Under this lease, you will only be considered to have purchased the vehicle if we assigned the vehicle's title directly to you..." You also maybe required to agree to re-register the car within 30 days from the time you purchase it.
(Although I don't know how enforceable any of that is.)

Russian Mafia

While the above answers seem reliable, this might be a really good time to read your lease agreement if you haven’t already.

mahens

thank you. much appreciated

mahens

Yes, Purchase Option Fee is N/A in my case. At the time of purchased, I paid a tax, do i need to pay again ?

Paul125

Not sure what state you're in, but in most cases you'd owe sales tax on the balance/residual value.

Ironman88

When the car was originally leased, it was titled in the leasing company's name. The sale was tied to the leasing company, not you (even though you ended up paying the sales tax on that transaction.)

When you purchase your leased car and you register it, it will be titled in your name. Usually that requires sales tax to be paid. That's the case where I live.

ilovemaui

I’ve only leased one vehicle, a new ML320 in 2000. I sold it one month before the lease ended and pocketed a couple grand. I would never lease again. I don’t like car payments so now I only pay cash.

pitt911

You don't deal with dealer
you deal directly with Porsche Financial services or leasing company
you owe taxes on purchase price which is the residual amount on your lease if your state have sales taxes

Spyerx

Some states pay the full sales tax at time of purchase on leases (Texas I think is one?) where in CA we only pay tax on the payment monthly for leases. Some of those tax up front states have different purchase contracts that are sort of a mix between lease and buy to avoid that issue.

OP you need to call PFS or read your lease documents.

dak911

What has your experience been with the end or a lease (2022 Macan S will have less than 25,000 miles in December of 2024)
1 Trade in on a new lease...will the dealer give you more than the buy out (We will definitely go with a 2025 Macan S, as long as they are still ICE)
2 Buy out the lease and sell it yourself? (rather not lay out $50,000)
3 Sell it to a car buying service...Carmax etc?

We bought out the lease on our 2019, my son took it (He doesn't want the 22 !)