Shocking Lease quote from Porsche Usa

[TaycanHero]

Weigh up a number of buying options before pulling the trigger.

I'm buying my GTS ST outright (via my company), where I only intend to keep the car two years before selling it.

Any kind of financing wasn't sensible where all I am doing is paying to borrow money I don't need.

I've factored in depreciation at 10% a year, plus additional costs like PPF/ceramic coat (£3k) and insurance at circa £2k per year, plus personal taxes (BIK) at 2% annually (£2.5k). Running costs minimal as it's an EV.

I've worked out on a median expectation, the car will cost me around £1,300 per month over the expected 24 months of ownership with everything other than charging included.

The cheapest lease I could find with an identical spec was £1750 per month - which excludes the cost of PPF/ceramic coat - but add on the BIK it's £1950 per month. It means buying works out around £18k cheaper than leasing over 24 months, and I (my company) actually owns an asset.

It is a gamble where if the car depreciates more than expected then it might fall somewhere near to the cost of leasing, but then the reverse could happen as well, vindicating the purchase decision that the above quick workings show works out better for my financial situation.

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[fullmetalbaal]

Typical US car dealer play IMHO.
They start with a crazy high MF and waste your time haggling it back down.

Steps to success (for me at least):
- understand what their actual underlying MF and residuals are. (forums like these are a good source)
- realize that residuals will vary by model, duration of lease,
- see if Porsche NA has specials advertised you can point to. Incredibly, dealers will not talk about these, and often initially refuse to honor them. I've had to threaten reaching out to Porsche NA to get flagship dealers to honor these...
- put all of this in a spreadsheet, with the specific options you want etc. calculating what the lease cost SHOULD be. (examples on this forum)
- there are now 2 things to negotiate: any discount from MSRP on car and/or options, and separately, the MF.
- you have to walk in understanding how much you're willing to pay (discount you can expect, MF you can expect...), by playing with the spreadsheet. Reset it to something LOWER than you're willing to pay but still reasonable (ie MF at or above what you heard from the forum, discounts <10% ), and use that as a starting point.
- you will walk in and they will say "it's 4K", you ignore that entirely, show them your spreadsheet and say: I want to see how close you can get to this. Ideally, your starting point is not too far off from some specials porsche NA has going. (best case, Taycan special, but I've gone across models in the past)

Now you are in for 2-3 hours of wasting your time haggling with some of the most annoying people in the country. Stay calm, respectful, but firm. Make sure it's day where you have time to waste.

Best case, you get what you want for a price you are willing to pay.
Worst case, you say "thanks for trying, doesn't look like we are going to do business"

Welcome to dealing with US dealerships. I hope Tesla's model takes over, and these dealership sales people die and rot in hell.

 

[kort]

Weigh up a number of buying options before pulling the trigger.

I'm buying my GTS ST outright (via my company), where I only intend to keep the car two years before selling it.

Any kind of financing wasn't sensible where all I am doing is paying to borrow money I don't need.

I've factored in depreciation at 10% a year, plus additional costs like PPF/ceramic coat (£3k) and insurance at circa £2k per year, plus personal taxes (BIK) at 2% annually (£2.5k). Running costs minimal as it's an EV.

I've worked out on a median expectation, the car will cost me around £1,300 per month over the expected 24 months of ownership with everything other than charging included.

The cheapest lease I could find with an identical spec was £1750 per month - which excludes the cost of PPF/ceramic coat - but add on the BIK it's £1950 per month. It means buying works out around £18k cheaper than leasing over 24 months, and I (my company) actually owns an asset.

It is a gamble where if the car depreciates more than expected then it might fall somewhere near to the cost of leasing, but then the reverse could happen as well, vindicating the purchase decision that the above quick workings show works out better for my financial situation.

your situation in the UK re taxes and financing are not comparable to a US buyer.

 

[fredinusa]

What was the down payment?

Monthly cost. Zero down.

 

[temoor]

The dealer now wants to drag me into balloon payment !
residual $75000
Monthly $3181
Balloon tax payment $10800
They still avoided MF and interest rates. I can simply say its a no from me !

 

[TaycanHero]

The dealer now wants to drag me into balloon payment !
residual $75000
Monthly $3181
Balloon tax payment $10800
They still avoided MF and interest rates. I can simply say its a no from me !

Buying is cheaper. Sell within two years if you want to keep depreciation in check.

The catch: you need the capital.

Check out leasing.

The catch: you might not get the trim or options you want.

 

[maddie]

I got similar terrible lease rates in NYC for leasing. The residual is based on MRM not MSRP, so as I had more options — it wouldn’t never be sensible to lease. The MRM aim a 4S is 129k, anything above that is being paid without the lease amount.

 

[Mr.Smith]

Taycan lease is horrible. Bad RV and high MF
51% is the RV, no way around that. I don't think VW financial allows MF increase over 125bps for Porche.
MF is the only unknown here, but no matter how I calculate it, the payment doesn't come out to that amount.

As @GG77 stated the base MF is is .0021.

I would avoid Taycan leases if possible.

 

[Spyerx]

Welcome to Porsches. Their leases suck. Always have. Or more like. They don’t subsidize them like bmw.

 

[mdrobc1213]

Welcome to Porsches. Their leases suck. Always have. Or more like. They don’t subsidize them like bmw.

. Yes I've leased tons of BMWs and always it was cheaper than buying. Tons of sales, incentives, and trunk money to be had. Maybe less so in current constrained environment but not like Porsche. Check out their new I4 M550 maybe as an alternative to the GTS? Given the allocation limitations for a GTS Taycan ST too..they likely have another buyer in the wings waiting for sure thus the take it or leave it rate!

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.

. I'd go get a few approvals to buy from a bank or credit union and they go from there. I have brought my dealer pre-approvals from my credit union on my last two Porsches (992 and Taycan CT) and they matched and/or beat the rate each time!

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.

Agree you may need to work you figures and plan a bit more. Walking in to get a $150k Taycan GTS ST for nothing down and expecting a cheap monthly may not just be doable. On a BMW maybe or Audi or even Mercedes who supplement their leases well maybe....I know a few friends who've gotten their new M3/M4 coupe at monthly rates you seek with very little cash outlay but then its a BMW and their finance model again is much cheaper and easier on the user at least here in the US. GL

 

[binobeetle]

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

Do you mind sharing your numbers? Downpayment, term, residual calculated etc.

 

[Mr.Smith]

Do you mind sharing your numbers? Downpayment, term, residual calculated etc.

2022 the residuals on Taycan got worse up to 4bps, MF is about the same, just inched up a little. In 2020 you can get huge discounts. which offsets the terrible lease terms.
So a combination of a big discount and more down payment are your only 2 options.

Turbo S is the worst with residuals (low 40s), maybe 10bps less than GTS

 

[Dimebag]

Do you mind sharing your numbers? Downpayment, term, residual calculated etc.

Sure, I’m Uk though, I just converted to USD as most people on the thread seemed US.

6 months down at £1500pm, 12k miles pa, 3 years.

 

[NewPdude]

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

Can you tell us if you leased or bought? Also any info on rates, residual value, etc… would be helpful. Thanks!

 

[outie]

Using Edmund’s latest numbers, 2022 Taycan GTS 36mo./10k

MF: 0.0021
Residual: 52%
MRM: 157k

My GTS is right around 157k (MSRP, no discount) so I plugged in the numbers and got $2,370/mo + tax in California, no cap reduction and 7500 credit.

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