West coast Florida
First time dealing with Porsche. 2020 model sitting for over 150 days. Thoughts?
Oh boy here we go again…
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go for a S with some options, Won’t cost you to much more
It has no options you would actually want to have
Chrono PASM etc…
If you can afford to lease a 911, then financing it would be the better financial decision. They hold their value pretty well.
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Awful deal, btw. It is a 911, though.
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@bmwfan2006 - Why are you putting nearly $7k down?
Why not just put 10% down and finance it? Your payment will be a few hundred bucks higher than a lease, but you will own the car at the end.
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One reason to lease instead of buy in FL is sales tax. If you buy, you have to pay 7% of the sales price which is $7500. If you lease, you pay 7% on the payment which is $91 x 36= $3276. At the end of the lease, you can still sell the vehicle and pocket the excess equity.
My rough math estimates the MF to be around .00227. I don’t know the PFS buy rate but that seems high in today’s rate environment.
Also, I think you can do better on the price for a 2020.
Good luck.
You can normally get 10% off a decently optioned Porsche 911, I don’t know if that’s still the case at the moment though given supply issues. If you’re spending that money do a custom build, find a dealer to do 9-10% discount and either lease or finance. Others can chime in whether that’s realistic in the current market, it was for a long time though.
I know a doctor who custom ordered a 911S a couple of years ago in Houston, MSRP was around $140k due to options but he got a decent discount. His lease was up a couple of weeks ago and it’s worth way more than he’s paid into the lease so he purchased it. The downside is for a lease payment ~$2k he could have leased a wide range of exotics; so it’s something to bear in mind.
This was the first offer given to me by the dealership. I’ve only dealt with BMW in the past. I have no desire to hold onto the car for more than 3 years. I would prefer to put down as little down as possible
On a new 911, 8-10% discount at base MF is about the best you can expect. You’re at about 6% discount with a marked up MF, not to mention $900 doc fee, putting this firmly in the “meh” category.
I’d plug the numbers into the calculator and see what the deal looks like at 10% discount at base MF, with whatever you want to do re: DAS. Then counter with that.
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Guys, what’s wrong with “lease then purchase” strategy as opposed to financing from the beginning when total discounts are the same in states like Cali and Florida ? It is a good way of mitigating the risk I think.
Paying interest on a lease and then on the “used” car vs getting subsidized financing.
One fender bender and the value is going to tank. Depends on the interest rate but I’d gladly pay a little more for the added protection.
If incentives are the same, you need to compare the difference in interest between the rent charge and if you were financing it and add in the acquisition fee.
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Florida makes it even harder to make this strategy work, since you apparently have to go through a dealer just to buy the car at RV at lease end and can’t directly buy it from the bank
You get to reacquaint yourself with the nation’s highest dealer fees a second time
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If you are on the fence about the LTR then it is worth it to pay more. It is only cheaper than financing a car with little down and selling it for a loss after 3 years.
I doubt that the 150 day mark on a Porsche 911 makes it distressed merchandise by any stretch. It will never be a volume car and the MF will always make the lease numbers kinda suck
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Is an $899 doc fee a normal thing for Porsche?
There is no normal. Its a free market. You can agree or not agree to any deal.
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