Awaz
Well-Known Member
- Joined
- Sep 9, 2024
- Threads
- 2
- Messages
- 145
- Reaction score
- 100
- Location
- London, UK
- Vehicles
- BMW i4 eDrive 40, next Porsche Macan EV
The question is also can you really get full 5% interest on your savings account?The money factor is very high right now when I asked my dealer told me: 0.00410 which is 9.84% APR. But interest rates on high-yield savings accounts are also high right now, mine is 5% APY.
If I lease the car for three years, then I get interest on the money that I would have otherwise paid to Porsche on day one. I put together a spreadsheet to help me understand lease vs buy cost and for me I estimate the net lease cost will be ~$4,500 more than the cash buy.
Iāve attached the spreadsheet and exported PDF for how I came to this conclusion.
Now Iām weighing whether the benefits of the lease providing me options are worth $4,500. Without Porscheās $7,500 lease incentive rebate, I would not be leasing.
And also on 5% interest earned, you would be paying tax as well, I presume?
So, I imagine your saving is more than just $4,500 with cash buy