Shocking Lease quote from Porsche Usa

[temoor]

I am trying to get a Taycan GTS and I tried to lease it as I have always done that for my last 5 cars. I have always been happy and satisfied with leasing options and the charges.
I queried about the leasing option for Taycan GTS with msrp of $147000. I was shocked when dealer gave me a quote. $3463 a month plus down payment of $2000 for 36 months and 36000 miles. So in 3 years I will end up paying almost $126000 to lease a car worth $147000.
I currently own a bmw M8 competition with MSRP of $125000 and I am paying a lease for only $1975. This dealer numbers made no sense to me. I understand its “porsche” but that price ? What are your thoughts ?

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[zzy45]

What’s the residual value and lease rate?

 

[temoor]

What’s the residual value and lease rate?

they never gave me that but I am inquiring.

 

[zzy45]

they never gave me that but I am inquiring.

Quickly ran the number through a lease calculator with a 6% rate With 70K residual (based off 49% of MSRP, this is from my SA last year), it does land you somewhere near of the quoted monthly rate.

the rate plays a big factor, I would imagined BMW had offered somewhere from 2-3%? For your M8?

 

[smohr33]

Porsche leases have always been bad.

Your M8 was probably discounted off MSRP, had a higher residual and lower MF.

Simple answer is to buy it unless you need to lease for business purposes.

 

[GreenDay]

Where are you leasing it from? Sales Tax seems high, near 10%? IL is 6.25%. Should be on the monthly payment rather than on the total car value for IL I thought.

Also did they include the $7500 tax credit to reduce your cap cost? Doesn't look like it.

Anyway - get the full lease terms. Still seems a bit high.

 

[philbur]

nothing a bit of competition cant fix. we financed and as soon as i brought the dealer a competitive quote (2%) they came back and beat it (1.84%). I have found that they always start high as there is good margin and im sure they have a % of customers that just say ok!

phil.

 

[Deleted member 6348]

In the US, BMW heavily subsidizes their lease program. Mercedes does as well. If you’ve leased a car from either, you discover how much you have been spoiled.

Porsche does not subsidize their leasing program at all. Unless you’ve got a cowboy accountant who thinks that you can count a Porsche lease as a business expense (not recommended), it makes zero sense to lease a Porsche in the United States.

Payments on 60 month auto loan are often lower than a 3 year lease on a Porsche. Don’t lease these cars

Get your auto loan amount below $100k and you’ll have a ton of options at great rates. Once you’re north of $100k on an auto loan, the options narrow dramatically and the rates aren’t as competitive.

 

[Tooney]

Where are you leasing it from? Sales Tax seems high, near 10%? IL is 6.25%. Should be on the monthly payment rather than on the total car value for IL I thought.

In addition to Illinois state and local sales taxes, in Chicago there is City of Chicago Personal Property Lease Transaction Tax of 9%. Yes, the 9% is added to the sales tax.

Ouch.....

 

[bah1590]

When I purchased by CT4 the lease rate was 6.49% from Porsche. I was able to find a purchase interest rate at 2.29% so I purchased. My payment on the purchase was actually lower than the lease payment. The issue is you have to pay the sales tax up front but if you are going to keep it 3 years you will come out ahead with a purchase.

 

[fredinusa]

Wow! Definitely worth pinging around a few other forums to get a sense for what others are hearing from PFS on the residual and money-factor for the car - those numbers seem extremely high.

We received a lease quote of $1,450 for a ~$118K MSRP optioned 4S last February. 36 months, 10K miles per year.

 

[bah1590]

Wow! Definitely worth pinging around a few other forums to get a sense for what others are hearing from PFS on the residual and money-factor for the car - those numbers seem extremely high.

We received a lease quote of $1,450 for a ~$118K MSRP optioned 4S last February. 36 months, 10K miles per year.

What was the down payment?

 

[GG77]

Aren't they adjusting for the federal/state tax incentives?

Also, should check what they are using for Money Factor.

For reference, my MY22 4S sedan was leased last month in California > msrp $133840 less $2.5k discount less $8250 fed+state incentive

MF of 0.0025, 36m/15k - $0 down payment, $2290 monthly payment incl. taxes and $4900 drive off less $2500 deposit paid at booking = $2400 drive off

I think the RV for the 4S for 36m/15k was 49% and base MF is 0.0021

 

[Dimebag]

That’s crazy… I’m paying $2000 a month for a Taycan Turbo S with $10k of options.

 

[Windpower]

In the US, BMW heavily subsidizes their lease program. Mercedes does as well. If you’ve leased a car from either, you discover how much you have been spoiled.

Interest rates in Germany (10 year) are 0.135% today. So any German car manufacturer can borrow money in Germany and lease any place else at close to 0%. A 6% purchase rate sounds high.

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