chicagoguy

Excited to have my long-awaited 4S sitting in Emden awaiting its ship. This will be my first Porsche after having driven Tesla Model S(s) for the past six years. I pretty much agreed to MSRP when I placed the order, but want to confirm that the lease terms I'm being offered are appropriate. I have learned from these boards that Porsche lease deals aren't great, but having owned EVs before, much prefer having the ability to give the car back in 3 years than have to deal with selling it myself.

On the lease, I'm being quoted a residual of 48%, which seems reasonable, and a money factor of .0033 which doesn't. Any thoughts or advice to share? What is the base rate on the MF and/or how much are they marking it up? They are reducing the cap cost by the $7,500 federal credit (as they should).

Many thanks!

chicagoguy

paxton

Base money factor is .002 or 4.8%, your dealer .0033 equals to 7.9%. I would have a serious talk with them ;-)

Needsdecaf

48% residual reasonable?? For how many miles. Seems kinda low to me.

daveo4porsche

48% residual is the factor Porsche is using for all Taycan leases - apparently they know thing…

SFsoundguy

My dealer informed me that PCNA lowered the MF to .00250 on the Taycan. I think its low as .002 on other models

GratedWasabi

You're throwing away money by taking a lease over the insanely good APRs offered right now, at least $15k over 3 years and potentially more. Period, end of story, literally just setting it on fire. By my calculations you're losing around $22k over 3 years by leasing a Taycan, maybe more, unlikely to be less.

Unless you can write it off as a business expense, you don't lease a Porsche. Period. But hey, if you like throwing away tens of thousands to save the hour or two it takes to trade in a car go for it.

smohr33

48% RV and .002 MF make for a terrible lease, even by Porsche standards. You'll be $2000+ monthly on a $120k car with those figures, close to $75k to rent it for 3 years. Ouch.

guab

Yep. Way better to buy. As others said, literally setting money on fire.

SFsoundguy

There are many reasons to buy or lease. Even if you buy your down 20% the minute you drive off in the car then if your unlucky to be in a wreck you could be out 50% when you come to sell it. No one wants to buy a crashed Porsche. I had that happen on one of my Porsche and I lost a ton, also in CA insurance companies do not have to pay diminished value. Therefore on high end daily drivers I lease and expense through the business.

ssiminou

I think the Edmunds Forums said that the MF on a Taycan is 0.002.....0.0033 actually scares me. It's concerning that PFS would even put out a number like that. Yes, I understand these cars are popular and by judging their RV, PFS doesn't have much faith in resale numbers. But where the heck do they come to 0.0033? And if it's marked up, I think the dealer is over the max allowed.

disden

I initially wanted to lease my 4S as I didn’t trust technology and wanted to be able to walk away if problems. But yikes the lease was insane, like $2300 month for low mileage 36 month lease. For comparison, Porsche has 2.74% financing which is about as good as I have seen Porsche offer, so it’s obvious they are more interested in pushing people towards financing. Porsche historically has had awful leases, but every now and then they have a special where raise residual and lower MF to move product. Not now! As said above MF is 0.002 and 3 year residual is 48%

Tycan

One of the many things I don’t like about a lease is that you are charged for every mile over the agreed amount, yet they won’t give you a cent for having even a thousand Miles under the agreement.

chicagoguy

OP here with many thanks to all. Picked up my beauty today. Ultimately purchased with a loan from BofA at 2.19% thanks to all of the sage wisdom here. Just hope the technology and resale price hold up well over the next 3 to 4 years, but definitely saved a bundle in any case by buying rather than leasing.

paxton

How many months for 2.19%

chicagoguy

I took 60 months, but rate was the same from 36 to 72 months. Base rate was 2.69% but Platinum relationship discount ($100k at BofA or Merrill) reduces it by 50 bp.