Good Week @ 996Outpost.com

[FRUNKenstein]

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.

https://www.mitsubishicars.com/special- ... %26%20CASH

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.

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.

[FRUNKenstein]

Yeah... Ummm... Those two things do not go together. Lease or purchase doesn't matter. Your definition of "some" doesn't matter.

Almost 20 years on the 996 is still sitting around $600/month (paid in cash so there were no payments). At just over 7 years the P!g is around $850/month (was a $1k/month 5 year loan after 20k down). Both absolutely stupid financial moves, but I regret neither and may do it again if I can convince her to let go of that damn e90 for a Macan or a Panny.

Contrary to the general view of Porsches, both of ours have been solid performers with few issues. I attribute a lot of that to us being the only owners so there is no question about abuse (that we didn't do) in the past that bites us later on. Beyond that, they were built for us. There was no compromise on options based on what was available when we were looking (they did screw us on options when she got her build slot and I was trying to stick to a strict budget on the P!g).

I think it works better if you can hang on to it for a long time, but clearly the numbers are still silly. Definitely do it if you really can, but don't try fooling yourself into the "financial sense" game.

I get what you're saying - having a new Porsche built just the way I want definitely has a value that maybe you can't quantify.

[DTMiller]

Yeah, that lease payment exceeds my mortgage by several hundred dollars a month.

[FRUNKenstein]

As of November, it exceeds mine by $2,198 per month.

[5chn3ll]

I could get a fleet of 6.28 CPO 2019 Grand Cherokees for that monthly payment. Gonna need a bigger garage, though.

I bought into the 996 fully aware that it might pop at any time and be worth $5K as a roller. Even after the thrashing I've given mine, it's probably worth $20K or so...ten grand for 6 years of 996 ownership was/is a hellacious deal.

[32wildbilly]

Too rich for my blood, but I'm happy that there are folks willing to take the depreciation hit for the cheap bastards among us.

I plunked down 30K for my 996 about 7 years ago, so my monthly "payment" is down to...let's see...$357/mo.

Speaking of being cheap, I think it's getting close to time for new rear tires - and an alignment, as the driver side is balding but less evenly so.

Nah-one-more-year.png

I wouldn't think it would be legal to run drag slicks on the street in Cali. I'm surprised.

[32wildbilly]

LOL, add full insurance coverage and registration fees. $2,500/mo to rent a car.

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.

I have found that money does not come with financial intelligence, unfortunately.

[Kalashnikov]

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.

I have found that money does not come with financial intelligence, unfortunately.

LOL. You will be surprised how many $30k millionaire chicks are rocking a leased lexus, multiple pairs of new Christian Loubuitin shoes, and Gucci everything. Got to post up on IG, you know?

Shit, even in my circle people do silly stuff. A co-worker of mine just.... Borrowed 800 big ones to build a new house in Central Phoenix and was trying to buy a salvaged 2006 Gallardo for $60k last week and wanted me to help him inspect it at the auction.

[32wildbilly]

I have found that money does not come with financial intelligence, unfortunately.

LOL. You will be surprised how many $30k millionaire chicks are rocking a leased lexus, multiple pairs of new Christian Loubuitin shoes, and Gucci everything. Got to post up on IG, you know?

Shit, even in my circle people do silly stuff. A co-worker of mine just.... Borrowed 800 big ones to build a new house in Central Phoenix and was trying to buy a salvaged 2006 Gallardo for $60k last week and wanted me to help him inspect it at the auction.

Plastic rich and the banks really own it all.

[gnat]

I could get a fleet of 6.28 CPO 2019 Grand Cherokees for that monthly payment. Gonna need a bigger garage, though.

I bought into the 996 fully aware that it might pop at any time and be worth $5K as a roller. Even after the thrashing I've given mine, it's probably worth $20K or so...ten grand for 6 years of 996 ownership was/is a hellacious deal.

Heh. When I bought the P!g Fiat had a $90/month lease deal running so we have had a long running joke about how many Fiats something costs