Cross turismo lease numbers?

[jlee504]

Has anyone run a lease on these yet? mine just came in which is great but now I’m debating on buying or leasing. I have always bought but with these EVs I’m such a believer that these are like iPhones and every few years there will be a huge technology leap that the depreciation will be killer.

so the msrp is 151k and the monthly on a 10k / yr lease for 3 yrs is $2600

that includes a trade in tax credit of $6800 and $7500 Federal tax credit rebate, otherwise $0 down.

seems awfully steep and im better off buying It.
thoughts?

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[RobbieRed]

I wouldn’t want to be holding the bag on a Porsche GEN 1 EV.
Let the finance company carry the risk and fix your payments on a lease - think a lot of us will be handing these cars back in 2-3 years and getting a new one with all the glitches fixed!

 

[GG77]

Generally PFS leases are pretty crappy but as stated above, I'd business lease a first ev like this one - ask about the applicable lease numbers here https://forums.edmunds.com/discussi...porsche-lease-deals-and-prices-all-models/p12 and input them into the lease calc to see if thr's a diff b/w what you get and what the dealer says https://www.edmunds.com/calculators/car-lease.html

 

[jlee504]

How do you business lease?

 

[chrisk]

Always ask for the specifics of the lease i.e. residual %, and money factor. Is tax included in the $2600?
Unless the residual or MRM of the CT is very low the dealer might be marking up the money factor.
Also I am not sure in your state, but in California you pay sales tax only for the lease amount which make the lease a good deal (compared to buy and sell in 3 years) even with the high PFS interest rates.

 

[GG77]

How do you business lease?

I lease through my business. Get to write off some of it.

 

[Kayone73]

Generally PFS leases are pretty crappy but as stated above, I'd business lease a first ev like this one - ask about the applicable lease numbers here https://forums.edmunds.com/discussi...porsche-lease-deals-and-prices-all-models/p12 and input them into the lease calc to see if thr's a diff b/w what you get and what the dealer says https://www.edmunds.com/calculators/car-lease.html

Good points you make. I'll be facing the same decision making in a couple months as my TCT is due for delivery in late Oct (lease vs purchase thru my business).

I was really hoping I could take advantage of IRS tax code Sec 179 100% accelerated depreciation if I purchased the TCT thru my business due to it meeting the GVWR requirement, but based on the NHTSA classification, the TCT is still classed as a sedan rather than a crossover or SUV like I originally hoped, so being able to claim the full purchase price deduction may not be possible without drawing the ire of the IRS.

So I'm back to looking at purchasing but doing traditional business use depreciation over a 5 year ownership cycle, or leasing and returning the car after the lease end. I'd really like the own the car so I can look at selling it down the line (assuming the supply of Cross Turismos in the country will be far less than the sedan) but its hard to predict the future like that.

 

[jlee504]

Seems that the residual of 54% and MRM of 135,900 against a 151,000 sticker is what’s killing the lease terms.

 

[Torv]

I wouldn't lease. It's money down the drain. Granted, Porsche Finance is taking the risk of depreciation, but that is factored into the high monthly payment, and I dare say that payment of $2600 is not inclusive of tax, so you're really looking at nearly $3K/mo.

You are correct in your belief that these cars are heavily reliant upon technology and that there will be improvements 3 years hence which may motivate you to trade it in. Porsches though generally hold their value pretty well and I suspect Taycans will do that too. Just my two bits...

 

[Kayone73]

Seems that the residual of 54% and MRM of 135,900 against a 151,000 sticker is what’s killing the lease terms.

Quick question, I've only heard 'mark to market' terminology used only in context of day trading, and even then I don't fully understand the concept.

Whats a layman's 'dummies' explanation for MRM Residual values as related to an automobile lease. Does that mean that your residual value of 54% is based on a market determined value of $136K and not the $151k sticker price that you're paying?

 

[SeanY]

Use the lease calculator: https://leasehackr.com/calculator

Seems you're paying almost 100k for the 3-year lease of a 150k car. You shouldn't do it.

 

[rich_r]

No way. That’s insane. Just buy it. Even if a new battery technology comes out and there’s a world wide recession you’d be hard pressed to lose that much money.

 

[jlee504]

Quick question, I've only heard 'mark to market' terminology used only in context of day trading, and even then I don't fully understand the concept.

Whats a layman's 'dummies' explanation for MRM Residual values as related to an automobile lease. Does that mean that your residual value of 54% is based on a market determined value of $136K and not the $151k sticker price that you're paying?

correct. Porsche finance set a max value of 136k, they aren’t giving you any credit for your options. You’re basically eating all the costs of hour options.

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