Hi All, First time poster. Buying a Macan S for my wife and trying to decide if leasing is the right call here or not.
MSRP - $68060
Negotiated Price $63032
MF- .00200
Nothing down, everything rolled into lease $971.99 per month
39 month lease.
I know the Macan is far from the best lease deal out there but it’s the car we want. Trying to assess if this is a good deal for a lease or not on the car. Also, the lease is through the Porsche dealer but not with Porsche Financial but a third party bank, which is why the residual is a bit lower. Porsche financial was MF of .00260
Sure seems like a huge per month payment. That also doesn’t seem like a very well loaded model. You should be able to get Porsche financial to offer you .00200. Which dealership is this?
These things depreciate like rocks. I ordered a 2015 Macan Turbo (MSRP of $92K) and it was delayed getting here. I backed out and glad I did. That car today (2 years later) can be bought for low to mid 60’s.
Some data points:
I leased a 2016 X5 40e with an MSRP of $73K for $600/month including 9% tax last year with minimal down (36/10)
I leased a 2013 Porsche 911 Cab (MSRP of $120K) from North Houston a few years ago for $1040 plus tax (24/7.5)
The Macan is a really nice car but not a $971 per month car IMO. You’ll be spending almost $40K to ‘borrow’ that car for 39 months…
Autobahn in Fort Worth. It’s got everything we want on it. Not a Turbo, it’s an S so it’s actually quite nicely equipped. I can buy the same car from any Porsche dealer in Texas however, as it’s a fairly popular configuration. Just want to find the best deal. If there are other dealers that will offer .00200 from Porsche financial in Texas I’d certainly be keen to speak with them.
Given the fact that I’m paying $38K for 39 Months on a car that would be roughly $68K out the door with sales tax, title and fees if I pay cash, it seem like not a bad deal if the car is worth less than $30K in 39 months.
What residual value % are you being quoted? I think you might be better off purchasing. I haven’t researched it enough but I have a hard time believing a Porsche SUV depreciates like a rock.
The Cayenne is the worst. Pick up a three year old model for 1/2 MSRP. Heck, you can even grab a nice used 991 (2012 and newer) for low 60’s.
Base model Macan will depreciate the least compared to S, Turbo and GTS. Residuals tend to run from 55 to 60%. Don’t get me wrong, it’s a great car but at almost $1K per month it’s very $$. Porsches don’t lease very well in general where BMW’s have traditionally leased at more affordable rates.
Maybe Porsche got even more greedy and jacked the standard MF. I guess 4.8% wasn’t enough for them??
I went to North Houston because all the dealers in the Bay area (CA) were asking crazy prices and MF’s when I leased my car. Had the car shipped and still saved money.
FWIW, it appears the Macan won KBB’s 2017 best resale award for luxury compact SUV. at around 62.5% RV after 3 yrs. I think the quoted RV for lease deals are 60 or 61% for the base model which isn’t horrible. It’s the MF that is a joke and making the deal horrible. You can finance the car for much less, no acquisition fee, no disposition fee and don’t have to worry about miles. I don’t think Porsche has MSDs. Maybe check MB for a similar Vehicle, you can use MSDs for sure. Or perhaps wait a little bit until 2018 model arrives in July I think and hopefully the numbers get better on the 2017 model.
Except purchasing will cost him $1300mo w $6000 down for 60 months. By the time he’s done paying it off, he’s lost over 50% in value, paid tax on the whole amount and a considerable amount of interest. Plus maintenance and repairs for a few years out of warranty. So no, leasing is better.
He will be paying taxes on the entire sales price in either case. Also, the interest on the purchase would definitely be lower than the interest he’s paying if to lease.
@Jon, Ok so even if interest and tax rates were even, the amount in depreciation and risk of repairs for an expensive vehicle along more maintenance (tires etc) , will add up to much more than the lease, which he can just turn in after 3 years or so.
In this case, seems like the total cost after 3 years is almost equivalent, so getting the lease is probably better since he has the option to just turn-in the Macan at the 3 year mark.
