I've Got My Lease Options: What's the verdict?

[shesallthat]

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Decision has been made. Please disregard.

 

[squirtle707]

What dealer did you get these numbers from? I'm also in California

 

[tmrqs]

-deleted -

Decision has been made. Please disregard.

Out of curiosity, would you mind sharing them again for comparison purposes (didn't see them before you updated your post)?
What did you decide in the end?

 

[Daniel15]

I'd also love to see what you originally posted. I saw in a Google search for this thread that you asked about whether it's worth just buying instead of leasing, but Google didn't have the full post cached.

 

[PanameraFrank]

I should be getting a lease quote today and will post the details.

 

[quaxon]

This is what i got from my dealer. I was considering between leasing or just buying with cash, I think I am gonna go the cash route as this seems excessively bad.

 

[Awaz]

Yes, same here. Cash purchase.

 

[Dragon Tourniquet]

So long as the early buyout and fees isn't bad you could do the lease and then buy it out a week later.

 

[PanameraFrank]

I looked over my lease today. Similar to above, it's very bad.
39 mo/12k miles
MF .00390
Residual 56%

Buyout is remainder of the payments in full + residual.

If you buy out day one you're getting hammered, 12-15k over cash price.

It's $122,827 for 39months/12k if you buy out at the end, $97,820 MSRP. That includes the tax rebate. Very ugly numbers.

 

[tmrqs]

Alas, not surprising.

 

[Dragon Tourniquet]

Buyout is remainder of the payments in full + residual.

Is that definitely correct, or is it the rent charge portion of the payments, which would exclude the interest portion. That's what I've normally seen for buyouts, but I've never dealt with Porsche before.

 

[PanameraFrank]

Is that definitely correct, or is it the rent charge portion of the payments, which would exclude the interest portion. That's what I've normally seen for buyouts, but I've never dealt with Porsche before.

It includes interest, at least that's what I was told. Porsche leases have always been brutally bad.

I also know many companies are taking that approach with EV leases now, too, to avoid people leasing and immediately buying out to backdoor the tax rebate. Rivian is another example.

But always check for yourself, I'm just dealing with one SA and I was never intending to lease so I'm not negotiating or anything.

 

[krissrock]

ooh very interesting... this is exactly what my SA has pushed me towards.
we're doing the lease and he said i could buy it out after a month or so, whenever the paperwork for whatever they have to do, is completed.

I was lookin at some sights, and at first my question is the tax. Apparently you pay tax on the car, and a lease tax... so whatever that may be at the time of taking the car, if I were to buy it out a month later, am I paying the value of the car again then?

so for example the lets say the car is 100k and payments are 2k for 36m
the lease takes off 7500.
but either way, if i wanted to buy the lease out at 3 months later,
i'd owe $2k x 33mo ($66k)+ the value of the car which would still be like $92k ?

tha's sound crazy?
am I understanding ya'll correctly?

 

[fsabek]

Not sure of your lease details. However in my case the lease numbers even with the ev $7500 credit were unacceptably high!! I am assuming due to resale value or depreciation. Making me changing my mind and instead I decided to buy my new macan ev turbo!

 

[ericf]

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.

I’ve attached the spreadsheet and exported PDF for how I came to this conclusion.

Now I’m weighing whether the benefits of the lease providing me options are worth $4,500. Without Porsche’s $7,500 lease incentive rebate, I would not be leasing.