Lease a Boxster ? - 986 Forum - The Community for Porsche Boxster & Cayman Owners

Perfectlap · 05-12-2008, 10:03 AM

^ very true I can think of no better time (possibly ever).... to be buying a second hand Porsche and no worse time in buying new or leasing.

Although with gas about to hit $5 its going to be p-a-i-n either way. Those guys driving those thirsty twin turbo 911's must be crying.

baseball · 05-12-2008, 11:03 AM

Nick, I don't know the tax laws in Chicago, but I think you're missing the sales tax in your calculations. In most states you pay tax on the part of the car you lease. So in addition to the $4909 due at lease signing, you may have a few more grand you'll have to plunk down in order to drive off. Leasing CAN be a smart choice, but one of the big benefits of leasing (namely avoiding a big outlay of cash all at once) is lost in this deal.

I don't think this is a very good lease deal, but for other reasons than the previously stated opinions. 1, this lease deal is nothing special, it's been around since I was looking for my Boxster almost a year ago. And 2. Lease deals will get much more aggressive later this year. Remember in recessionary times, new car sales go down, while used car sales go up. The biggest discounts can currently be found in new cars, while used cars are keeping the lights on in most dealership right now.

NickCats · 05-12-2008, 11:56 AM

Thanks guys. Looks like I'll stick to the original plan

When I bought the Boxster I promised my wife no more cars for 5 years.

Well, that was 2 years ago. In 2011 ( when I'll be 40 ), hopefully my car will still be worth $10 - $15k and I can trade it in on a new one.

Oh well...

Nick

husker boxster · 05-12-2008, 01:28 PM

Why finance through Porsche at their highway robbery rate? When I was shopping rates back in Jan, my Credit Union had 4.9%. I wrangled a 4% loan from somewhere else. Don't know what the going rate is now, but it has to be better than 7.5. Finacing over 4 yrs may be affordable with a significantly better rate.

But you didn't hear it from me. I don't want to get you (and me) in trouble with the wifey.

Poorshoesless · 05-12-2008, 05:30 PM

I am waiting for the right Boxster coming my way and my rule is always this..."if you can not paid off your loan in three years, you really can't afford it".

LoveBunny · 05-12-2008, 08:36 PM

Quote:

Originally Posted by baseball

Nick, I don't know the tax laws in Chicago, but I think you're missing the sales tax in your calculations. In most states you pay tax on the part of the car you lease. So in addition to the $4909 due at lease signing, you may have a few more grand you'll have to plunk down in order to drive off. Leasing CAN be a smart choice, but one of the big benefits of leasing (namely avoiding a big outlay of cash all at once) is lost in this deal.

I don't think this is a very good lease deal, but for other reasons than the previously stated opinions. 1, this lease deal is nothing special, it's been around since I was looking for my Boxster almost a year ago. And 2. Lease deals will get much more aggressive later this year. Remember in recessionary times, new car sales go down, while used car sales go up. The biggest discounts can currently be found in new cars, while used cars are keeping the lights on in most dealership right now.

I had to pay a nice huge chunk of taxes on my car to the tune of 9%, so don't forget to factor that in.

There sometimes could be a benefit to leasing, but I am of the opinion that a lot of people lease because they are simply trying to get more car than they can afford and just budget in a payment every month. I also believe a lot of people really don't understanding financing or leasing and just show up and go "What can you get me for $550 per month?"

I think leasing can works well for those who turn their cars over every three years or so, but I still don't like not owning my car, even if I don't really "own" it until I pay it off. As far as tax benefits, I am able to write off about 50% of my mileage as a business expense and neither of the CPAs I've used has said leasing would benefit me. I still get a write-off, just taken a different way.

xxxalexxxx · 05-12-2008, 09:53 PM

personally, I would never lease, to me its like throwing ur money down a toilet and flushing lol and thats my theory for buying brand new cars as well...but then again I hate interest rates too so i only buy cars in cash... I'm a cheap bastard i guess hahaha but i hate parting with my money lol
anyway, stick to the car you have now i agree that now is a bad time to buy new/lease...just wait it out a bit

GL

super66 · 05-13-2008, 06:01 AM

nick! where u looking? talk them down to about 41-42 as low as 40 on a nicely equipped box or cayman.......similar to the one below....the MSRP is only suggested....don't give up yet

crunch the nubers at 42....see what you can get

jk335 · 05-13-2008, 07:44 AM

How much could you get off a Cayman. Boxster's fully loaded can come down about 8,000 or so. I would assume a Cayman could also be discounted well. They seem to have more cayman than Boxster. Did the Cayman sell well this year?

PS... I love the white Boxster in the signature below. White works so well on this car.

Brucelee · 05-13-2008, 09:19 AM

Generalizations about leasing vs buying are like all generalizations, not very useful.

The financial issues are done fairly quickly, and the devil is in the assumptions. I can make anything look good based on what assumptions I use in the comparisons. The future is going to be what it is, not what we assume it to be.

Then, there are the emotional issues. I have done both, so not an issue for me.

Think, analyze, act, and good luck.