Yeah, $189 to lease a car for 36 months with 12,000 miles per month and $2,888 due at signing. I'm sure there are some other costs in the Mitsu deal (like options) that will drive that lease rate up, but will probably still be under $300 per month.Kalashnikov wrote: ↑Tue Jan 21, 2020 2:06 pmhttps://www.mitsubishicars.com/special- ... %26%20CASHFRUNKenstein wrote: ↑Tue Jan 21, 2020 1:59 pm
Exactly. So, who's leasing these vehicles? Somebody must be. But, I assume that most people who could afford a $2,198 lease payment would be smart enough not to do the deal. I also assume that the people at Porsche Financial Services aren't a bunch of morons. Clearly I'm missing something here. Maybe I should go into the dealership and waste an hour of a salesperson's time to verify what's up. Seriously, 4 years from now, I could see myself leasing a new Porsche because I've never had a brand new vehicle in my life. I'd like to try it once. But, it has to make some financial sense.
Just doing a little math - if I can live with a 3-year old Macan that I buy at the auction for $45,000, I can own that car and have it paid off in 36 months for $1,348 per month. Then at the end of the 36 month loan term, I'll have a paid-off car that's probably still worth $30,000. That's $3,552 in interest (at 5%), plus $15,000 in depreciation. Taxes and insurance no doubt cheaper on a 3-year old car also. So, the net cost of having that vehicle for 36 months if I wait for the car to be 3 years old is $18,552 versus the cost to lease it new for 36 months being $92,128 (lease payments plus $13k upfront money). Hmm, maybe I won't be buying that brand new Porsche after all - it ain't that important of an item on my bucket list.