- #81 of 188
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My $0.02...
by kyfdx HOST
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Aug 20, 2006 (7:50 am)
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I too, think you negotiated a great price on the car... But, lease deals on most Porsche models are not that great..
Unless you absolutely have to lease, I'd just buy the car.. The payment with tax for a 60 month loan at 6.5% would only be around $850, including tax and with nothing out of pocket.
At the end of 3 years, you'll only owe $19,100 on the loan, and you'll only have paid out $4400 more than for the lease... If you can sell the car for $23,500, then you are ahead..
What are 2003 Boxsters selling for now? I don't know, but even stripped models are going for high $20Ks, most likely..
Regards,
kyfdx
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- #82 of 188
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Re: My $0.02... [kyfdx]
by davezaristo
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Aug 20, 2006 (9:29 am)
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Replying to: kyfdx (Aug 20, 2006 7:50 am)
Thanks for your help...what if you taken into account the tax situation? I am in california and my tax rate here is 8.5%. I understand that if I lease, i will only have to pay for the lease portion of the tax. So if i take that into consideration, I am still ahead if i am buying rather than leasing? I really don't have to lease since I cannot write off the payments, but I was just concerning the reliability of the car and the potential costly maintenance cost once the box ages...
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- #83 of 188
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Re: 2006 Boxster base lease question [habitat1]
by davezaristo
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Aug 20, 2006 (9:34 am)
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Replying to: habitat1 (Aug 20, 2006 4:05 am)
Thanks for your help..i am glad to hear a second opinion on this. Prior to the boxster, i've purchased all my cars cash as well and the only reason i was considering leasing a porsche is the fact that i won't keep it for more than 3 yrs. I guess i will definitely consider purchasing again instead.
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- #84 of 188
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Re: My $0.02... [davezaristo]
by kyfdx HOST
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Aug 20, 2006 (1:08 pm)
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Replying to: davezaristo (Aug 20, 2006 9:29 am)
I'm not suggesting that you keep the car out of the warranty period... Just that the lease deals aren't that great, and you may come out ahead in the long run by buying it, then selling after 3 years... or 42-48 months.. Porsche has a 4 year warranty, right?
You are correct about the tax.. You'll be paying on the full selling price, rather than just the payments, but I think our numbers took that into account.. Maybe $1600 more in sales tax on a purchase vs. lease, but the interest rate on an auto installment loan is probably lower than the imputed rate on the lease money factor..
Just because you buy it, doesn't mean you are stuck with it.... you might find that you can't stand it, and want to sell it after 30 months (yeah, right).. That will be a lot easier to do if you own the car..
regards,
kyfdx
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- #85 of 188
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Re: 2006 Boxster base lease question [davezaristo]
by habitat1
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Aug 20, 2006 (3:47 pm)
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Replying to: davezaristo (Aug 20, 2006 9:34 am)
Since you are in California, with an 8.5% tax rate, the total cost of the car under a purchase becomes approximately $44,500 instead of $43,500. That doesn't change my conclusion above.
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- #86 of 188
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Re: 2006 Boxster base lease question [habitat1]
by dhanley
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Aug 20, 2006 (5:38 pm)
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Replying to: habitat1 (Aug 20, 2006 3:47 pm)
Plus, even though you pay the full tax on purchase, if you trade, your tax on the car you are trading in on is less the trade--at least in most states. Not is CA, apparently.
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- #87 of 188
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Re: 2006 Boxster base lease question [davezaristo]
by gmanmd
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Aug 21, 2006 (7:42 pm)
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Replying to: davezaristo (Aug 20, 2006 12:00 am)
I don't understand those lease numbers as well. I am in NY and awaiting my base Boxster with SPP, nav and Ipod connection . MSRP was ~$54000 and I got $4k off that and my lease is $722/month for 36/12k. I don't understand how your lease is around the same for essentially $9k off of this one unless the leasing issues are slightly different in CA. BTW, this is my first Porsche and my first lease. I am leasing due to the screwed up IRS deduction policies, as I am able to deduct the car for my job and leasing you can deduct the whole thing, but buying, the car depreciates according to a theoretical $16000 car even though you spend much more. Go figure.
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- #88 of 188
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Re: 2006 Boxster base lease question [gmanmd]
by dl7265
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Aug 21, 2006 (9:00 pm)
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Replying to: gmanmd (Aug 21, 2006 7:42 pm)
I am more familure with BMW leases, and what amount BMW will allow said dealer to mark up the MF ect.. Perhaps our host can advise if Porsche has any such policy ? And fwif very clean '02 are going for high 20K to 30ish. I concur with the above opinion on take the great discount on a purchase.
DL
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- #89 of 188
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2007 Boxster S Lease Question
by cklyeung
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Sep 11, 2006 (11:40 pm)
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Hi,
Does anyone know what the current money factor and subsequently monthly payment would be for a 2007 Boxster S?
Say for example,
Price: $58000
Lease Term: 36 mo
Mileage: 12000/year
And what is the current residual value for a 07 Boxster S?
Thanks in advance!
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- #90 of 188
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Residual and money factor
by alsolia
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Sep 16, 2006 (6:25 am)
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Hello,
any of the great host here can enlihten us with the new PFS money factor and residual they are using now for the new 2007 Boxster please?
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