New Member Cape Cod MA - Need Advise

[Hammersc5]

HI guys, new member here looking for some advise ..

I leased a well stocked 2021 T4S CPO with 3000 miles on it about 9 months ago on the 12 month lease plan. Thought it was a great opportunity for a long test drive, not my first Porsche, but yes my first Porsche EV. It is my daily driver and i log about 80 miles a day.

Well as it turns out I love everything about this vehicle, drivability, comfort and the look. With my lease ending in a few months I’m stuck between purchasing this vehicle or moving to a 2024 Taycan GTS CPO I have located with the right build and at the right price.

My current vehicle has had no issues whatsoever since I’ve had it but I’m concerned about the ongoing Gen 1 battery reports as well as the warranty running out. The 2024 GTS is still a Gen 1 and could have the same battery issues ?

I would go for a 2025 GTS but the depreciation in the first year is ridiculous and makes no sense to me at all other than the battery issues might be solved ?
Any advise would be greatly appreciated.
Thanks

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[Watchesandburgers]

No sense keeping the 2021 car once your lease is done. Move into the 2024 lease or by the 2024 car outright if it's already realized some depreciation. The 2024 car will still have significant warranty left, so you don't need to worry about battery issues, especially if you lease it.

 

[Flying ace]

Go to that 2024 GTS

 

[trycan]

but I’m concerned about the ongoing Gen 1 battery reports as well as the warranty running out.

What's your current mileage? You may still have warranty left on the 2021 because the battery itself is under warranty for 8-yrs / 100k miles. Although if you're rolling through 20-25k per year on the odometer, you're not gonna get to the 8-yr before 100k.

 

[Hammersc5]

What's your current mileage? You may still have warranty left on the 2021 because the battery itself is under warranty for 8-yrs / 100k miles. Although if you're rolling through 20-25k per year on the odometer, you're not gonna get to the 8-yr before 100k.

Thanks for the response, I do about 15-20k per year. I'm pretty much set now on picking up the 2024 GTS, just battling now with the whole lease vs purchase decision. Not sure if I should buy into a long term loan with the current battery issues and also how fast the technology evolves coupled with the deprecation and down the road resale numbers on the vehicle. The real issue is that after driving this vehicle for 9 months I'm not sure any other vehicle will measure up.

 

[scoobie2]

I wouldn't rule out the 2025 if you plan on keeping the car. Who cares about depreciation if you are not selling? The 2025 4S has the same 0-60 as the 2024 GTS, also has air suspension, much better range especially with performance battery, solved lots of issues with J1.1, etc. So, lower model but better car.

 

[Hammersc5]

All good points, just makes the decision even more difficult...
I love the way my 4S drives and do understand the GTS rides a little firmer but when i test drove it i didn't really notice much of a difference from that perspective.

 

[trycan]

Thanks for the response, I do about 15-20k per year. I'm pretty much set now on picking up the 2024 GTS, just battling now with the whole lease vs purchase decision. Not sure if I should buy into a long term loan with the current battery issues and also how fast the technology evolves coupled with the deprecation and down the road resale numbers on the vehicle. The real issue is that after driving this vehicle for 9 months I'm not sure any other vehicle will measure up.

The MF on my lease (aka interest rate) was good for Porsche and bad for me. If you have great credit, I would think you could get a loan with a better rate that results in less borrowing costs.

Like @scoobie2 said above, depreciation shouldn't be a primary concern because you know you love the car. Also agreed on suggestion to consider 2025 for reasons mentioned, and I'll throw in a plug for Active Ride since it's amazing.

 

[Mr.Smith]

I wouldn't rule out the 2025 if you plan on keeping the car. Who cares about depreciation if you are not selling? The 2025 4S has the same 0-60 as the 2024 GTS, also has air suspension, much better range especially with performance battery, solved lots of issues with J1.1, etc. So, lower model but better car.

I agree with this. J1.2 is a better car and a Tune on a 4s 2025 will get you over 900hp.

 

[Hammersc5]

Thanks guys, guess i have to dive back in and do a little more research where the J1.2 is concerned.

 

[Mr.Smith]

The MF on my lease (aka interest rate) was good for Porsche and bad for me. If you have great credit, I would think you could get a loan with a better rate that results in less borrowing costs.

Like @scoobie2 said above, depreciation shouldn't be a primary concern because you know you love the car. Also agreed on suggestion to consider 2025 for reasons mentioned, and I'll throw in a plug for Active Ride since it's amazing.

Very good points. The MF buy rate this month is 8.88% apr on a lease.

You have to lease a Taycan to get the $7500 credit, them immediately buy it out. Navyfederal.org has rates in the 4% range.

 

[trycan]

Very good points. The MF buy rate this month is 8.88% apr on a lease.

You have to lease a Taycan to get the $7500 credit, them immediately buy it out. Navyfederal.org has rates in the 4% range.

This is the way.

Another advanced technique would be to pay down a portion of the lease using a balance transfer credit card promotion, and then re-fi the remaining balance into a traditional loan. Check the balance transfer terms though, pretty much need a 0% rate for 12+ months and no more than 3% transaction fee to make the savings work. Also, you'll need the cash to close out the card balance when the promo rate expires, so this technique is not for everyone.

 

[Mr.Smith]

This is the way.

Another advanced technique would be to pay down a portion of the lease using a balance transfer credit card promotion, and then re-fi the remaining balance into a traditional loan. Check the balance transfer terms though, pretty much need a 0% rate for 12+ months and no more than 3% transaction fee to make the savings work. Also, you'll need the cash to close out the card balance when the promo rate expires, so this technique is not for everyone.

Great idea.
The only card I know with 0% transfer fees and 0% for 12 months is from Navy Federal credit Union.

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