Done! Put a 10% deposit on my 2024 Taycan allocation.

[iSTATUS]

Finally pulled the trigger. Dealership had one available allocation left and I took it =). SA advised my delivery ETA is mid August for my 2024 Taycan. I'm still debating whether to lease or finance it. If I lease I'll be getting a $7,500 rebate vs $0 for financing. I'm leaning towards leasing at the moment being that this will be my first EV. SA advised "You always have a option to buy at the end of the lease" lol.

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[mjw930]

He also forgot to mention you have the pleasure of spending over 11% interest, and that’s with an 800+ credit score.

 

[mcdermottm]

MY SA was pushing the lease option very hard... Kept saying we never know where the technology is going to be in 3 years. From reading the forums and people more knowledgeable than me, the technology won't be changing so quickly that new cars today will be drastically obsolete in the next 3 years. The lease payments were pretty high with a small down payment so we chose the purchase with a large down payment.

 

[daveo4EV]

Finally pulled the trigger. Dealership had one available allocation left and I took it =). SA advised my delivery ETA is mid August for my 2024 Taycan. I'm still debating whether to lease or finance it. If I lease I'll be getting a $7,500 rebate vs $0 for financing. I'm leaning towards leasing at the moment being that this will be my first EV. SA advised "You always have a option to buy at the end of the lease" lol.

congrats - you're going to love it. (the car not the lease - I have no opinion on lease or not) - but you'll love the car.

 

[tchavei]

MY SA was pushing the lease option very hard... Kept saying we never know where the technology is going to be in 3 years. From reading the forums and people more knowledgeable than me, the technology won't be changing so quickly that new cars today will be drastically obsolete in the next 3 years. The lease payments were pretty high with a small down payment so we chose the purchase with a large down payment.

They all try to push leasing as it's another source of income for them. They all earn a nice commission (some even on a monthly / yearly basis. Not only on new contract).

If you plan to keep the car for a long long time, the cheapest way is always to purchase.

 

[4thPcar]

If I leased my 911 I would have had to forfeit it after 36 months. Instead I drove it 12 years and sold it at auction for a little less than what I paid for it. I essentially drove a six-figure car for almost nothing for over a decade. YMMV and the Taycan is not a 911, however it may be the next most iconic car in the lineup.

A recent issue of Christophorus had the Taycan and 911 side-by-side. They are betting the farm on it!

 

[iSTATUS]

They all try to push leasing as it's another source of income for them. They all earn a nice commission (some even on a monthly / yearly basis. Not only on new contract).

If you plan to keep the car for a long long time, the cheapest way is always to purchase.

Agreed. I got a sense of the SA pushing the lease just a little more. At the same time I don't plan on keeping a EV car for more than 4 years. Still on the fence......

 

[TDinDC]

If I leased my 911 I would have had to forfeit it after 36 months. Instead I drove it 12 years and sold it at auction for a little less than what I paid for it. I essentially drove a six-figure car for almost nothing for over a decade. YMMV and the Taycan is not a 911, however it may be the next most iconic car in the lineup.

A recent issue of Christophorus had the Taycan and 911 side-by-side. They are betting the farm on it!

Why would you have had to "forfeit" it if you had leased? If you had leased and you liked the car at the end of the lease period, you could have simply bought it by paying off the remaining capital.

Now, if you know you are going to keep a vehicle beyond the end of the lease period, then by all means purchasing the vehicle is the correct choice.

If you instead both: (1) do not know whether you will want to keep the vehicle (or know that you do not intend to keep the vehicle); and (2) do not know what the market will be for the vehicle at the end of the lease period, then leasing could make sense depending upon the terms of the lease itself.

It's just another financial tool that is great for some in their circumstances and not for others based on theirs circumstances.

 

[magnitude]

Does leasing ever make sense, financially? If I understand right, the only way that leasing could make sense is if you expect the car to have significantly lost its value, after the leasing ends. If the lease giver thought that was a chance, they would price it into the lease.

So that leaves either accidents, in which case the insurance should pay out, or unexpected loss of value across the fleet because the cars are all plain bad (seems extreme), or, I guess, taking so little care of the car that you cannot sell it, but without accidents. (But if that happens during the leasing period, don't you get penalties as well?)

I'm sure there's some simple scenario I'm missing, where leasing wins out?

 

[RAHRCR]

Does leasing ever make sense, financially? If I understand right, the only way that leasing could make sense is if you expect the car to have significantly lost its value, after the leasing ends. If the lease giver thought that was a chance, they would price it into the lease.

So that leaves either accidents, in which case the insurance should pay out, or unexpected loss of value across the fleet because the cars are all plain bad (seems extreme), or, I guess, taking so little care of the car that you cannot sell it, but without accidents. (But if that happens during the leasing period, don't you get penalties as well?)

I'm sure there's some simple scenario I'm missing, where leasing wins out?

In a bad economy (where the auto makers having a rough go), leasing with incentives could be decent. Otherwise, it’s rent-to-own with a premium.

I have never leased because I buy cars that I think I will own for some time….even though it has never worked out that way.

 

[TLC]

Finally pulled the trigger. Dealership had one available allocation left and I took it =). SA advised my delivery ETA is mid August for my 2024 Taycan. I'm still debating whether to lease or finance it. If I lease I'll be getting a $7,500 rebate vs $0 for financing. I'm leaning towards leasing at the moment being that this will be my first EV. SA advised "You always have a option to buy at the end of the lease" lol.

i was speaking with finance guy today inquiring about pricing for wheel & tire pkg and extended warranty and was told the same thing about leasing and getting the $7500 tax rebate.

 

[Amelio]

Congratulations on your new Taycan, you must be excited! Would love to know what you ordered, what colour, options, etc.

 

[whitex]

Does leasing ever make sense, financially? If I understand right, the only way that leasing could make sense is if you expect the car to have significantly lost its value, after the leasing ends. If the lease giver thought that was a chance, they would price it into the lease.

So that leaves either accidents, in which case the insurance should pay out, or unexpected loss of value across the fleet because the cars are all plain bad (seems extreme), or, I guess, taking so little care of the car that you cannot sell it, but without accidents. (But if that happens during the leasing period, don't you get penalties as well?)

I'm sure there's some simple scenario I'm missing, where leasing wins out?

There are scenarios, primarily two:

1. Business use, the entire lease payment is an expense vs. having to depreciate the asset yourself. At the end of the lease, you can buy the car for personal use at residual price too, after the car takes a major depreciation hit which the business writes off.
2. If you want to offset the risk of not knowing what you'll get for the car in 3 years when you want to swap cars. Economy can change, and with high priced cars that can affect the prices a lot (high priced cars can be hard to move)

Then there are some obscure scenarios where leases are hevily subsidized. For example I leased a brand new car long ago with a residual of $150 (4 year lease). Even the finance manager thought I was crazy until I had him compare the monthly payments of 4 year loan vs lease - the lease has a heavily subsidized interest rate from the manufacturer, loan did not. Btw, tried the same trick with Tesla a few years back, but they had a min residual which made it not worth doing.

In the end you have to do actual calculations each time to know what's best for you. Taycan lease, even with the $7,500 credit, was still more expensive for me, but I can see it making sense if someone is comparing it against a high interest loan and the price of the Taycan is low.

 

[mjw930]

There are scenarios, primarily two:

1. Business use, the entire lease payment is an expense vs. having to depreciate the asset yourself. At the end of the lease, you can buy the car for personal use at residual price too, after the car takes a major depreciation hit which the business writes off.
2. If you want to offset the risk of not knowing what you'll get for the car in 3 years when you want to swap cars. Economy can change, and with high priced cars that can affect the prices a lot (high priced cars can be hard to move)

Then there are some obscure scenarios where leases are hevily subsidized. For example I leased a brand new car long ago with a residual of $150 (4 year lease). Even the finance manager thought I was crazy until I had him compare the monthly payments of 4 year loan vs lease - the lease has a heavily subsidized interest rate from the manufacturer, loan did not. Btw, tried the same trick with Tesla a few years back, but they had a min residual which made it not worth doing.

In the end you have to do actual calculations each time to know what's best for you. Taycan lease, even with the $7,500 credit, was still more expensive for me, but I can see it making sense if someone is comparing it against a high interest loan and the price of the Taycan is low.

Exactly, I did the math 2 weeks ago and no matter what scenario I used the lease was $10K - $20K more expensive over the expected ownership, including the $7500 rebate. I took advantage of a strong loan rate from BofA and didn't look back.

 

[iSTATUS]

Exactly, I did the math 2 weeks ago and no matter what scenario I used the lease was $10K - $20K more expensive over the expected ownership, including the $7500 rebate. I took advantage of a strong loan rate from BofA and didn't look back.

Hi - Would you mind sharing your #'s resulting in the the additional $10k - $20k? thanks

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