Latest deals - need feedback

[unbiased]

After long and hard negotiations dealership giving me discount on a 2023 GTS (MSRP around 158 k). Leasing terms are as follows (true numbers):

10 k miles
$ 4.7 k down
2060 per months for 39 months

Looking for feedback from other people currently shopping for deals.

Sponsored

 

[hitmonlee]

2060*39+4700=85k, which seems really high for 3 years of ownership?

 

[unbiased]

That is why I am asking, they knocked off 32.5k off the MSRP.

 

[arijaycomet]

That sounds rather high to me. There are plenty of online lease calculators, that you can plug in the data. But more importantly I'd ask them to provide you the MF (money factor) as well as the residual value.

When I plug in $158k MSRP and then reduce it by $35k down (your contribution and the discount, less your first month) -- presume 39 months at 50% residual of $158k -- and put in a basic 4.99% APR (0.00208 MF), with 7% sales tax presumed (average) -- the payment is closer to $1500 per month ($1567 in this case)

To get the payment you explain here, the MF needs to get kicked up to around 0.004 which is basically 9.6% APR -- and to be honest, that is actually probably "about right" at today's rates. I hate to say it but leasing is such a risk these days and interest rates are so high, banks are not favoring it like they once did. I've seen BMW do some 2-3% APR incentive lease rates still but GM, Ford, etc interest rates on leases are right around 9-10% so that may be where Porsche is right now. It cuts some of their risk if the residual is crap, they offset it with interest.

So yeah the bottom line is that sounds "meh" but may be where we are as we head into 2024 :/

 

[unbiased]

Residual is 0.52 of the MSRP and money factor is 0.00370

 

[arijaycomet]

$158k MSRP

Lease:
$2060 x 39 = $80,340 + $4,700 down =
$85,040 spent over 39 months, with 0 risk of resale value

Purchase:
Assuming same $32,500 off MSRP = $125,500 sale price
Assuming 72 months at 6.99% APR (today's estimated rates)
$2,217 per month at 7% sales tax with $4700 cash down =
$164,339 spent over 72 months
~$72k payoff at 36 months

Is it worth paying 10% more per month just to have unlimited miles, but run the risk of resale value? The way I've looked at that in the past is -- what if I buy out end of lease? I'd assume a 48 month loan at today's rates, even at 6.99% -- so 52% of $158k MSRP = $82k buyout approximately. Ends up with tax/interest being around $100k -- so you'd have spent $185k

If you are the type of person who keeps cars for 5+ years then buying it up front gives you the peace of mind of unlimited miles, and will save you $20k in the long run. There will be Macan EVs middle of next year, though -- and that might drive down Taycan used prices a bit. If you're likely to want a new car in 3 years, then leasing is the safer bet perhaps. My $0.02

 

[rashd60]

Is 32.5k off the MSRP only when you lease or you can buy it at that price?

 

[Redhot2474]

That’s a hefty discount , dang

Sponsored