Beautiful car! Leasing for the win. 39 months later (or less if he Swaps, or sells to Carvana, Carmax) he turns the car back in to Porsche. One black mark on the carfax from a parking lot incident or low speed rush hour accident and he’s going to get killed on the trade in value. Plus look at the miles he drives. Let’s say he buys it and turns it in at 3 years/45K miles. The comps will all have 10,000 miles, maybe 15,000 miles total.
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That’s < $19,000 a year. I suppose it depends how you define “wealthy.”
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Doesn’t MRM hurt Porsche leases though? Almost not worth optioning up when you’re paying every penny past a certain point.
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That’s between 3 and 6 times what most people spend on a lease. If we ignore the fact that this particular lease is insane, i would personally not spend this type of money unless i make at least 20K a month from non- W2 income.
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What you would or would not spend has nothing to do with your premise that someone is probably wealthy if s/he is spending $56,000 over three years on a car lease.
What other people pay for car leases also has nothing to do with your premise.
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Not sure where you’re going with that but arguing about something that is simple common sense doesn’t add value to the current topic.
Clearly the only way to settle this is for OP to post his/her tax returns from the last 5 years.
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When did this forum become an extension of r/personalfinance?
Perhaps a controversial view but as someone that promotes leasing and buying new vehicles: If the bank approves you, I’m not questioning your motive nor means.
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Apparently they did the math and decided to stick with their policy…
Oh I’m sure, and honestly I’m surprised (but thankful) that more manufacturers don’t practice it.
I’ll use BMW as an example (big surprise) but more often than not the only cars even in the same neighborhood as their residual value are base model examples.
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The entire topic was presented by its author as the result of a lease vs. buy analysis.
I was pointing out the financial disadvantage of financing a car like this at the terms the OP presented.
See my previous post.
It’s fairly obvious to most people that someone who profits from putting people into new cars would have this opinion.
I’m not suggesting that you are dishonorable, but c’mon.
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On a GranTurismo which is a heavier car the front stock P Zeros are about 7-8K miles and rears about 4-5K. The PSS were about 1K more miles. So if he got Sport Cup 2’s then yes he will be burning through them in about 4-5K miles based on a friend who has had a few GT3’s. If he switches to PS4S he should get much better wear rating if he is concerned with longer time between changing tires.
I agree with you on the finance part but if wealth creation/preservation was a concern most people wouldn’t likely enter into this type of lease.
porsches never lease well and this is a typical deal. im not sure why the OP insist to get hosed but glad he’s happy with his lease. I’d much rather buy the car and sell it once I’m done
curious which broker did you use?
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Honestly it’s more about me not being that person’s financial advisor.
If they feel they can afford what I’m offering and the bank agrees with that assessment then that’s where my involvement ends.
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I understand how business works, and I wasn’t being critical of your financial interest in the transaction or the healthy arms-length relationships you have with your customers.
All I am saying is caveat emptor.
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Where on earth did you hear that? I have the Cayman GTS in at 8000 miles the tires are not even at 50% wear.
To change out every 3000 miles You got to be drag racing from traffic light to traffic light.
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Just ignore him. He just posts to increase his post count. Welcome to 2005
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