Leasing CPO 2020 Porsche Taycan 4S - Advice Welcome/Needed

Ask the Hackrs Used Cars
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Hi, this is my first post on the site, and first time buying/leasing a car–I apologize if I sound ignorant. I’m very nervous about cars and any guidance you can offer would be greatly appreciated.

From SoCal.

I am looking at a CPO 2020 Porsche Taycan 4S, with 32,990 miles on it. The dealer site lists it at $74,845 (Kelley Blue Book seems to be at $72,995).

A lease term I was offered:

Down Payment: $10k
Monthly Payment: $1,407/month for 3 years
Miles: 8000 miles/year

A purchase term I was offered:

Down Payment: $10k
Monthly Payment: $1,322/month for 6 years

These numbers seem really bad for a lease. My total lease payments (including down) would be $60,662 when the car’s current value is $74,845. The dealer said it was because the car already has a lot of miles on it, so lease terms are relatively bad.

The dealer was pushing me on getting a 2023 Taycan base, for $5k down, $1,400 a month for six months including tax, for a total price of about $113k.

I do like the car–could anyone advise me on whether this is actually a reasonable deal, given the market? Is it because interest rates are really high? (I think the interest rate here is 8.9%, but dealer said it could go down to 7.9% potentially.) If it’s not a reasonable deal, do you have advice on how can I go about getting a reasonable deal on this car with this dealer? (Does this involve trying to negotiate the price down from $74,845?) The miles/year is less of an issue for me, I don’t expect to be driving it a lot as I’m mostly WFH.

(Also, assume I’m getting a Porsche Taycan as my first car. Whether that’s a stupid idea is another topic!)

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I can’t find a word worse than horrible atm. This one definitely isn’t it, but you need to post what you’re trying to get on a Taycan(also post trim and specific options cuz Porsche charges you for a windshield too). This way, someone can suggest whether your expectations are practical.

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This whole thing is terrible.

  1. You’re getting a used Taycan as your FIRST car?
  2. Used and CPO cars never lease well as a rule of thumb, with the exception of some loaners.
  3. On that lease term, does it make sense to pay $60,652 for a $73k car and then give it back?
  4. On that purchase term, does it makes sense to pay $105,194 for a $73k car? Also, I hope those numbers are wrong because thats nearly 15% interest if my math is correct

Regarding the market, Taycan prices are dropping like falling bricks. Wait it out a few months and get your credit together so you can actually get a good interest rate if you still want it.

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Just get the project 51 Etron and take the wrap off

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You offered to pay $61k over 3 years for the used Taycan and they actually rejected your offer and countered? The audacity of this salesperson on this is commendable. But they did you a huge favor rejecting your initial offer.

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Shaq No GIF

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What’s your 3 bureau credit score?

Why are you looking at used soon-to be 4-year old electric Porsche as your first car?

It seldom makes sense leasing a used car. It definitely makes no sense to lease a 3 year old Porsche with nearly 33k miles on it.

What specifically do you like about it? Did you test drive it? Will you have access to a home charger? Have you checked with insurance companies what it would cost for coverage? You might be surprised by the premiums.

It is a pretty bad deal. Walk away and stop talking to Porsche dealers.

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@Arces - I fully admit I’m stupid, but I did make an effort to be not bad. The Taycan 4S has a “premium package” with special rims. I was looking at other Taycan posts, and they did not appear to spell out all the features, and honestly I don’t know enough about features to list out the ones that should be of interest to readers/advisers.

@TheAvia7or - Appreciate the advice that used and CPO never lease well. Also appreciate the advice on waiting things out for Taycans–I should monitor the prices better.

@max_g Thank you for your response

@holeydonut I should clarify, I offered nothing, I just asked them about pricing terms. That is what they came back with. Sorry about the confusion.

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My bad… I suck at reading hah.

If you’re ok with an Audi, BMW, or Mercedes the pricing on their big/lux sedan EV is much better brand new than what you’re seeing on that Porsche.

But if you’re dead set on the brand it’ll cost you quite a bit to land that Taycan.

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@Jose_Neto Thanks for the gif and advice!

@Bluemkn57cars My credit is in the good/excellent range. I appreciate your advice to specific things I said.

Based on this very prompt and thorough feedback–thank you everyone!–I’m for sure not leasing an old Taycan. At the moment I’m thinking about leasing a new Taycan, but I need to do some further research.

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The used Taycan lease is a non-starter. Complete Hall of Shame material. You can price out a new one in the Marketplace

Well the cost of insurance shouldn’t be considered something outside your total cost of having one. So this being your first car is quite relevant and it might impact your insurance premiums by a lot. Price out insurance premiums before choosing a vehicle

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Can you survive in a brand new E-tron GT?

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Holy fuck the OP shits money

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He probably pisses excellence too.

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First thing in the morning.

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If you’re OK flushing that kind of cash down the toilet, go all out, like an ancient Ghost/Flying Spur/Bentayga…

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Let’s try to stay on topic.

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So, if you are a first time buyer, you probably would t be approved unless you put substantial money or make Porsche affordable income

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@cplaser - It might be worth a while to reach out to this broker and maybe ship it to California, if the numbers make sense.

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I know someone who is even offering a bigger discount than that but can’t list the exact numbers due to OEM rules :wink:

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