Porsche lease deal - What do you guys think?

[G35POPPEDMYCHERRY]

....I get all the math and shit....but seriously you cannot compare a CPO to a new car. Like yeh; a new car is used the second i sign on the dotted line.....BUT IT USED ONLY BY ME.

in retrospect, I wish I bought a CPO, but I wanted a NEW f80 and I got a NEW car.

[alex2364]

Look at this thread if you want to lease Cayman/Boxster. https://forum.leasehackr.com/t/2018-...-deal/58133/23

[Flacht3]

If my accountant came to me and tried to compare a new car purchase to a CPO purchase as apples to apples I'd quickly be finding a new accountant.

You can make the numbers work in your favor all day long when you're managing to the metric and not reality.

[G35POPPEDMYCHERRY]

Originally Posted by Chris_DM

If my accountant came to me and tried to compare a new car purchase to a CPO purchase as apples to apples I'd quickly be finding a new accountant.

You can make the numbers work in your favor all day long when you're managing to the metric and not reality.

lol exactly. A NEW car is NEW for a reason. A waste indeed, but hey people on the forums don't strike me as people to be frugal in this manner. At this rate, everyone should buy used? Then where will used cars come from?

You pay a heavy premium to be the only one to own and drive one's car.

Just like I am sure you don't want to know the others that have railed your wife/gf.... Unless you got her new

[Red Bread]

Originally Posted by Chris_DM

If my accountant came to me and tried to compare a new car purchase to a CPO purchase as apples to apples I'd quickly be finding a new accountant.

You can make the numbers work in your favor all day long when you're managing to the metric and not reality.

Snicker. He's attempted really hard to look smart all while quickly digging a mental hole.

[Run Silent]

Originally Posted by Chris_DM

If my accountant came to me and tried to compare a new car purchase to a CPO purchase as apples to apples I'd quickly be finding a new accountant.

Your choice, but the accountant would be right and only trying to lead you to the more financially sound decision. Of course, I am nobody's 'accountant' as I previously worked for a big-4 audit firm and now work in SEC external reporting compliance for a multi-billion dollar company.

Originally Posted by G35POPPEDMYCHERRY

At this rate, everyone should buy used?

Yes. Unless your net worth exceeds $1M

Originally Posted by G35POPPEDMYCHERRY

Then where will used cars come from?

Fiscally stupid people.

Originally Posted by Red Bread

Snicker. He's attempted really hard to look smart all while quickly digging a mental hole.

Pretty happy with my lot in life, sir.

[paliknight]

Originally Posted by ASAP

is the residual on this lease 20% lmao?

that's what I was wondering. Wouldn't that imply that turbo S will lose about 80% of its value in 3 years? Or my logic is flawed?

[P1]

Originally Posted by dgoldenz

They were easier to find than I thought.

https://forum.leasehackr.com/t/fire-...ire-fire/22891

$121/mo for a $38k Bolt

https://forum.leasehackr.com/t/2017-...-nj-ny/31788/2

How about a $50k BMW for $54/month?

https://forum.leasehackr.com/t/2017-...-216-tax/32217

Or a $52k 330i for $216/mo?

https://forum.leasehackr.com/t/2018-...l-237-mo/39464

Or a $60k Volvo for $237/mo?

https://forum.leasehackr.com/t/succe...k-506-mo/32648

$87k F-type S for $500/mo? Sounds decent.

https://forum.leasehackr.com/t/2017-...-a-month/19260

Even found a $144k F-type SVR for $748/mo, that ain't bad either.



Clearly, buying is always better.

You need to take Lease Hacker with a huge, massive, enormous grain of salt.

[Germanauto]

No lube, no vaseline.

[Run Silent]

Originally Posted by P1et

You need to take Lease Hacker with a huge, massive, enormous grain of salt.

^ This, because we all know that random strangers on the internet posting typed up lease details with no support docs is super accurate and honest, right?

(sigh)

[Alfisti]

I'm with the CPA here but, but, i will say this, even CPo vs lease is not a dead certain win for CPO.

I decided to run a little experiment and got a quote on a new X3 a couple of years ago, optioned how we wanted, it came in at (taxes and fees all in and zero down) $850 month, $741 after tax claims as my wife is a partner in a business.

My math said, a CPO X3 with 25K miles (37K KM) over 3 years would cost $526 including debt servicing, depreciation, repairs and servicing.

So on paper we save some $7,740 over 36 months.

We are 30 months into that experiment and I need to check my numbers but depreciation has been a bit harsher than I budgeted for and I think I could find a slightly better lease deal through LEASEBUSTERS (lease take over site). I'll run the numbers and get back to you guys but it may be as little as $80 month delta which really makes you wonder if you just lease even as protection from loss of value due to an accident.

The big issue is wearables, tyres and brakes are brutal, absolutely brutal.

Gimmie some time to break it down and i'll be in touch.

[Alfisti]

Originally Posted by usshelena725

Most people fail to properly analyze the tax savings of leasing a car for business.

1) You can only deduct the portion you are using for business, so if you work a typical work week, you generally are only deducting about half of the lease payment - so $250 vs $500.
2) Assuming an average tax bracket of 25%, that means you are saving a whopping $100/mo, or $1,200 per year in taxes. $1,200 x 3 years = $3,600. Still doesn't make up the $6,000 shortfall in my previous post.

Million times this. I had to argue this with my accountant, honestly amazes me that people don't do this math.

[10"]

Originally Posted by NickyC

$100k for a Boxster??!? Stuff like this leads me to believe we're at the end of the boom cycle due to these absolutely insane car prices.

It's because people load these cars up with foolish luxury options; none of which have any real value.

[saeyedoc]

Leasing really gets stupid when you get over the MRM. When I ordered by '12 Cayman S from the factory that I leased, I went right up to the MRM, but not over.

lol those numbers make Porsche Passport look like a no brainer:
https://www.porschepassport.com/membership

Interested in seeing how far they roll this out.

[Alfisti]

Originally Posted by FCobra94

lol those numbers make Porsche Passport look like a no brainer:
https://www.porschepassport.com/membership

Interested in seeing how far they roll this out.

Damn you're right.

If you need and SUV you've got one, if you swap the very for a coupe in winter you've got one. Plus savings on insurance.

[Red Bread]

Originally Posted by Alfisti

Damn you're right.

If you need and SUV you've got one, if you swap the very for a coupe in winter you've got one. Plus savings on insurance.

We looked into the Volvo subscription, which is tied to a single car, not open like the Porsche and Audi subscriptions, but it's worth noting that there's a serious holdup on the insurance side. Estimated wait time for the Volvo was six months as Travelers is apparently a huge holdup on these deals.

The most appealing deal is the local Park Place subscription that covers multiple brands.
http://www.parkplaceselect.com/pricing

[Never_Enough]

more nonsense for rich people

[Our03z4]

Originally Posted by usshelena725

Your choice, but the accountant would be right and only trying to lead you to the more financially sound decision. Of course, I am nobody's 'accountant' as I previously worked for a big-4 audit firm and now work in SEC external reporting compliance for a multi-billion dollar company.




Yes. Unless your net worth exceeds $1M




Fiscally stupid people.




Pretty happy with my lot in life, sir.

I like the way you think! I've never spent more than 12k for a vehicle, heck my house was only 19k thanks to the 2007/8 downturn. I have always put at least 100k+ miles out of each vehicle and all with out any major issues.

P.S. I drive an avg of 25 -30k miles a year, never makes sense to spend much.

[Run Silent]

Originally Posted by Our03z4

I like the way you think! I've never spent more than 12k for a vehicle, heck my house was only 19k thanks to the 2007/8 downturn. I have always put at least 100k+ miles out of each vehicle and all with out any major issues.

P.S. I drive an avg of 25 -30k miles a year, never makes sense to spend much.

Yessir. I may spend more than you on cars (about $25K, but always pay cash), but I get them with 20k miles on them or so and keep them for about 7 years and another 100K. Ends up costing me around $200-$250 per month to save for the next car plus maintenance and repairs, which typically runs around $50/mo on the average over the long term. Pretty good numbers in my opinion.

[Never_Enough]

Originally Posted by usshelena725

Yessir. I may spend more than you on cars (about $25K, but always pay cash), but I get them with 20k miles on them or so and keep them for about 7 years and another 100K. Ends up costing me around $200-$250 per month to save for the next car plus maintenance and repairs, which typically runs around $50/mo on the average over the long term. Pretty good numbers in my opinion.

Yea, most of the country does not have $25k cash laying around to buy a car.

[Run Silent]

Originally Posted by Never_Enough

Yea, most of the country does not have $25k cash laying around to buy a car.

Well, true - but that's a whole other problem.

Of course, some of them might be a bit closer if they didn't have $700 lease payments. Just sayin.