Trying to Lease
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Rennlist Member
Joined: Nov 2015
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From: Austin
Trying to Lease
Long time Porsche owner, but looking at leasing a Taycan. The problem is the Money Factor being pitched is .0029 or 6.96%, which is crazy high. Also, Residual Value is only 51%. Any real world MF deals that you folks are aware of so I can compare the lease deals on this forum? It would be much appreciated - thank you in advance.
Rennlist Member
Joined: Oct 2019
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Afaik that’s pretty standard in the US. The lease terms are awful. It is gen 1 electronic toy, also in the 4 door sedan market, so the residual may have some bitter truth to it. But the money factor is bonkers
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Joined: Sep 2020
Posts: 13
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From: Vancouver, BC
I just completed a lease for a Taycan 4S with Porsche Financial 4.99% in Canada:
- 36mo 56,000km 51% residual
- 42mo 48,000km 47% residual
I received incentives for 2020 model year that were already on their way to the dealer, some by Porsche and some by dealership, for almost $8k CDN (lease or purchase). I have always known that Porsche is very conservative in their residual values as it provides an opportunity to speak to you 6-12 months before the end of the term to get you into a new lease. Mileage is fair but for those who drive a lot, I understand that those people get the lowest mileage they can get from the lease (even 8,000km) as they will be purchasing the car at the end anyway so they reduce their monthly cost. Plus, you can buy out the lease anytime should you discover that the car is worth more than you are paying. Seems like a low risk strategy.
This is also my first lease and having considered all options, it made the most financial sense for my situation.
- 36mo 56,000km 51% residual
- 42mo 48,000km 47% residual
I received incentives for 2020 model year that were already on their way to the dealer, some by Porsche and some by dealership, for almost $8k CDN (lease or purchase). I have always known that Porsche is very conservative in their residual values as it provides an opportunity to speak to you 6-12 months before the end of the term to get you into a new lease. Mileage is fair but for those who drive a lot, I understand that those people get the lowest mileage they can get from the lease (even 8,000km) as they will be purchasing the car at the end anyway so they reduce their monthly cost. Plus, you can buy out the lease anytime should you discover that the car is worth more than you are paying. Seems like a low risk strategy.
This is also my first lease and having considered all options, it made the most financial sense for my situation.
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Drifting
Joined: Jul 2007
Posts: 3,474
Likes: 1,224
From: Canada
I just completed a lease for a Taycan 4S with Porsche Financial 4.99% in Canada:
- 36mo 56,000km 51% residual
- 42mo 48,000km 47% residual
I received incentives for 2020 model year that were already on their way to the dealer, some by Porsche and some by dealership, for almost $8k CDN (lease or purchase). I have always known that Porsche is very conservative in their residual values as it provides an opportunity to speak to you 6-12 months before the end of the term to get you into a new lease. Mileage is fair but for those who drive a lot, I understand that those people get the lowest mileage they can get from the lease (even 8,000km) as they will be purchasing the car at the end anyway so they reduce their monthly cost. Plus, you can buy out the lease anytime should you discover that the car is worth more than you are paying. Seems like a low risk strategy.
This is also my first lease and having considered all options, it made the most financial sense for my situation.
- 36mo 56,000km 51% residual
- 42mo 48,000km 47% residual
I received incentives for 2020 model year that were already on their way to the dealer, some by Porsche and some by dealership, for almost $8k CDN (lease or purchase). I have always known that Porsche is very conservative in their residual values as it provides an opportunity to speak to you 6-12 months before the end of the term to get you into a new lease. Mileage is fair but for those who drive a lot, I understand that those people get the lowest mileage they can get from the lease (even 8,000km) as they will be purchasing the car at the end anyway so they reduce their monthly cost. Plus, you can buy out the lease anytime should you discover that the car is worth more than you are paying. Seems like a low risk strategy.
This is also my first lease and having considered all options, it made the most financial sense for my situation.
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Advanced
Joined: Oct 2017
Posts: 91
Likes: 23
Taycans aren't for everyone. I like the pricing...it keeps the car more exclusive.
Advanced
Joined: Nov 2020
Posts: 99
Likes: 18
This is specific for US lessee.
Does Porsche Financial apply the $7500 Federal tax credit as part of the capital reduction? Most of the other leases for EVs are doing it but with the Taycan being such a new model, I would like find out what is Porsche's policy.
Does Porsche Financial apply the $7500 Federal tax credit as part of the capital reduction? Most of the other leases for EVs are doing it but with the Taycan being such a new model, I would like find out what is Porsche's policy.
Three Wheelin'
Joined: Jul 2006
Posts: 1,479
Likes: 307
From: Californian
So they sting us on the interest and then they take the credit!!!!!
Not cool!
Rennlist Member
Joined: Jun 2006
Posts: 2,925
Likes: 561
From: Washington DC
I’ve been wanting to lease a taycan but it just makes no sense. And the idea of buying something that will become dated in 3 years seems ridiculous, no one knows what the used market will be like for these
Advanced
Joined: Nov 2020
Posts: 99
Likes: 18
it does look like the lease term for Taycan is not very favorable, it is probably because it is so new and the demand is high...
Rennlist Member
Joined: Jun 2006
Posts: 2,925
Likes: 561
From: Washington DC
so I've been having this conversation with many friends. wouldn't everyone want to only lease an electric vehicle? I've bought all my cars to date but I feel like when I'm ready to get into one it has to be a lease because its like an iPhone or an iPad, the technology will move so fast and the battery will degrade that why would anyone hold it? I can't figure out the logic to buy one of these as you have no idea how the used car market will be for an aged piece of technology.
am I missing it?
am I missing it?
Racer
Joined: Aug 2019
Posts: 276
Likes: 62
Long time Porsche owner, but looking at leasing a Taycan. The problem is the Money Factor being pitched is .0029 or 6.96%, which is crazy high. Also, Residual Value is only 51%. Any real world MF deals that you folks are aware of so I can compare the lease deals on this forum? It would be much appreciated - thank you in advance.
And if you drive a lot, as I do, the mileage cap with a lease doesn’t make sense.
