Hello LH community!
Just wanted some input on a lease for a Taycan RWD. After a few days of negotiations, this is their “best” offer:
MSRP: ~$107K
DAS: First month + doc fee + registration & plates ~ $2600
12k/36 months
Monthly including tax: $2060
Tax rate: 11.25%
I understand Porsches dont generally make the best leases, so just wanted some input on this deal. $7500 Fed EV credit is being applied to the lease as well. Any other luxury cars/suvs to consider in this price range?
Do you realize that you are paying ~$75k to drive a $107k car for 3 years?
I would make this a buy over a lease, champ.
I want to understand how do some people have more money than brains? Like what do you do that you have this much money to blow without understanding what you are getting into?
Less the $7,500 federal tax credit, unless it’s already in your calculation?
What part of the post implies I dont “understand” what im getting into?
Thanks for this, I had already considered this. The lease end buy out is ~53k. It also avoids having to pay 11.25% taxes on the entire car, when leasing in IL. Also get to write the lease off under my business.
Ive been shopping for the taycan for a few weeks now, these were the best numbers so far.
My thoughts on the lease are, the car is essentially a big piece of technology, so there is a high chance the EV car market will evolve, leaving the owner in a bend, should the 2025 taycan end up with improved range/batteries.
All of it. You are misunderstanding the spirit of ‘LeaseHacking’ IMO.
This is a valid concern, you want to pay 7.2% interest on it tho…
Pros to leasing
Cons to leasing
Pros to Financing
Cons
Thanks for posting some actual useful information.
I do understand the car doesnt alight with the “spirit” of leasehacking. Not every car will fall under the “hacking” category as well. Ive had some pretty solid “hacks” in the past all with first payment+dealer fees+registration 11.25% taxes rolled into payments… So I guess I understand a thing or two about leases.
This would be a lease under my business, so the write offs help - Dep the entire car in one year is not of benefit for my business, Sales tax on the entire car is roughly $13.5k, and total taxes on the lease are ~$6k.
I am being offered base MF ~6.24% (about 2% higher than financing with PFS for 60moths.) Leasing also allows me the ability to sell the car at the end of the lease, if the used value is higher than the lease end buyout, and walk away if its lower, or if the vehicle is involved with an accident etc.
Porsche doesn’t even lease well as is. During these times absolutely horrible. Run or throw ur money away.
No, I just added sales tax because the tax credit doesn’t impact the payment (or the loan balance at any point).
OP was already aware of the tax credit so I didn’t call it out again, but perhaps I should have for good measure.
Yeah but this feels like it’s being sold well over sticker.
I’ve also been toying around with Porsche sedans.
Obviously the market may be very different in three years, but this was my experience looking at a used one last week (a 2020, coming right up on 3 model years old):
Someone other than me will pay at least close to the $126k asking price for the ~3-year-old example I drove last week, which that had an MSRP of $135k.
FWIW, I think the base models will have a steeper depreciation curve, but time will tell.
This is accurate. The base models have a significantly higher depreciation curve. S and above are investments lol.
I PM’d you. No where in IL is there a 11.25% tax rate. There are a bunch of things missing here like if you have the performance plus battery or not (different RVs) and where in IL you are located.
Please explain how you bonus out a sedan. Also, how do you take Sec 179 on a bonused out asset?
Op should talk to a CPA, but I was under the impression the GVWR mattered
