breakfast

There are so many more of these I seem to be noticing.. and obviously cayennes galore.
blows my mind, then again Im just a peasant.

CamsPorsche

I know that...but I'm showing you that although there's a 10% difference in currencies, the $2800 figure seems quite high for an almost comparable car.

Also, look closely at the Sonnen advert and you'll see what the residual is and be able to work out the money factor...

jumper5836

Every thing over the border is cheaper and a better deal.

CamsPorsche

I can't get over how many people are trying to break their leases especially BMW owners! Unreal...I suppose its the only way people can afford cars nowadays by leasing.

wc11

BMW
Break My Wallet

69gaugeman

You forgot to add in maintenance and repairs. Methinks the OP doth not do his own repairs. This can change your numbers considerably......

LastMezger

Unfortunately you really can't compare US lease numbers to Canadian with the expectation that they provide anything other than insight into a larger and more competitive market.

The reason the Canadian lease number is so shocking is simply because there's less competition and Porsche Canada isn't subsiding residuals or interest rates to make the lease more attractive.

With a lease a minor manipulation or residual and APR has a huge impact on payment.

I always look at it this way for sports cars...finance. If a leasing company can afford to lease you a car knowing they will make money because they won't have to write-down the gap between the cars ultimate market value and the residual then you are better off financing.

You're already paying the same about (or more) of interest as you pay interest on the total capital cost with a lease.

Obviously financing also gives you more flexibility to sell the car should something (red perhaps;-) catch you eye.

Jamie140

The cost of every car purchase is comprised of

Cost of borrowed dough (opportunity cost if your own dough)
Depreciation

Control cost by using credit union or home backed line of credit to finance

You can't control depreciation but you can delay til u sell the car

So borrow the dough at 3%, pay interest only and delay any depreciation til you sell

Fundip

Doth thinketh correctly about the repairs.

Anyways, I don't want a non-targa Carrrera. The only reason I'm getting a Porsche is because I like the looks of the new targa. Also, I don't like holding cars for more than 2-3 years. Leases work for me because I can switch cars fairly often without having to worry about selling them or babying them.

Fundip

Thanks, this is helpful. I hadn't considered an interest-only financing (I didn't even know such a thing existed for cars). I was choosing between leasing or a cash purchase, and since the opportunity cost on my own dough is more than 3%, the interest-only financing might make more sense. Something to think about now.

jumper5836

I am not to keen on the Targa look.

petee1997

That is all fine but don't expect this in the form of a car loan. It will be secured by whatever security the bank requires for a $175,000.00. line of credit.

Turbodan

two advantages to leasing is paying tax only on the leased portion not on the whole cost of car, and that if you work for yourself you can right off the payments.
disclosure: I have never leased nor borrowed to buy a car.

CamsPorsche

But wouldn't you need to have a lot of income coming in to be able to write off the payments? Is there a certain ratio?

I'm asking as my wife's photography business is beginning to take off and we are about to speak to an accountant to see where we can start writing off items.

Quest911

Cam the lease would be in your or your wife's name and credit worthiness would be what Porsche Canada or other lender would look at. You can pay it directly from your company with before tax money. It is a fine line what reasonable expenses your business can absorb based on your particular profit/expenses. Example if sales for said company is 100k per year and profit is 50k you cannot totally expense the other 50k in vehicle expense for example. The government will see right through that. Your accountant will most likely have you determine the portion of personal vs business expense of the vehicle leased and you will be taxed on your portion as income. The first 85k (amount I think) is however taxed at a much lower tax bracket as a business.