Got some numbers on a 2015 911 Turbo S

[URBAN LEGEND]

3 years at 12,000 miles annually with $5,000 due at signing the monthly payment comes to $3,690.

Yes or no?

[HXS]

Originally Posted by URBAN LEGEND

3 years at 12,000 miles annually with $5,000 due at signing the monthly payment comes to $3,690.

Yes or no?

Dang that's more than my mortgage payment.... And I even live in SoCal lol

[sdshah]

Originally Posted by URBAN LEGEND

3 years at 12,000 miles annually with $5,000 due at signing the monthly payment comes to $3,690.

Yes or no?

Used used used used used used used used.

[Vic55]

I need more info--- cash price-msrp- and if Texas is an upfront state (which I think it is at 6%?)

[URBAN LEGEND]

I think MSRP was 194K. I shot a quick email just to see what their first shot numbers would be. Was not expecting to have Tom Brady income levels.

[wrsbmw]

Originally Posted by sdshah

Used used used used used used used used.

This, this, this, this, this.

I pay $2,036/mo and I put $60,000 down on mine. Porsche Finance gave me a 3.9% rate on a 60mo loan. My credit score was only 720 even though my net worth is 8 figures, I don't use credit much. Anyway, I am paying it off in June after a closing on some property out off the Beltway and Wayside we sold. Texas has a 6.25% sales tax, don't know what they do on lease but I did pay $9k in sales tax since I didn't have a trade in. Course I paid no sales tax on the Range Rover since they gave me money back on the trade of the M5 which I paid cash for.

[M6-Coupe]

Originally Posted by wrsbmw

This, this, this, this, this.

I pay $2,036/mo and I put $60,000 down on mine. Porsche Finance gave me a 3.9% rate on a 60mo loan. My credit score was only 720 even though my net worth is 8 figures, I don't use credit much. Anyway, I am paying it off in June after a closing on some property out off the Beltway and Wayside we sold. Texas has a 6.25% sales tax, don't know what they do on lease but I did pay $9k in sales tax since I didn't have a trade in. Course I paid no sales tax on the Range Rover since they gave me money back on the trade of the M5 which I paid cash for.

Was it used? and what was the price tag? 9k tax @ 6.25% means 144k!!!

[wrsbmw]

Originally Posted by M6-Coupe

Was it used? and what was the price tag? 9k tax @ 6.25% means 144k!!!

Yes, mine had 3k miles on it and I paid $157k with $60k down. It was a $192k MSRP car with good options including Burmester. It also had the built in 9500ci, clear bra front back and sides as well as the FVD highflow cats and sound exhaust. I just looked at the paperwork, tax was $9812.50, ouch! I paid $1595 for the tire insurance, no deductible and 5 years coverage.

[Vic55]

Originally Posted by URBAN LEGEND

I think MSRP was 194K. I shot a quick email just to see what their first shot numbers would be. Was not expecting to have Tom Brady income levels.

Well the lease appears to have sales tax added in (in Texas I would not lease) and there appears to be a money factor markup as well. But without the residual value or percentage I can not confirm. Money is cheap right now on retail loans and PFS's buy rate is .00200 on a lease or 4.80%.

[M6-Coupe]

Originally Posted by wrsbmw

Yes, mine had 3k miles on it and I paid $157k with $60k down. It was a $192k MSRP car with good options including Burmester. It also had the built in 9500ci, clear bra front back and sides as well as the FVD highflow cats and sound exhaust. I just looked at the paperwork, tax was $9812.50, ouch! I paid $1595 for the tire insurance, no deductible and 5 years coverage.

157k including 9812 tax and 1595 tire insurance or just price tag?

[M6-Coupe]

Originally Posted by Vic55

Well the lease appears to have sales tax added in (in Texas I would not lease) and there appears to be a money factor markup as well. But without the residual value or percentage I can not confirm. Money is cheap right now on retail loans and PFS's buy rate is .00200 on a lease or 4.80%.

Correct. Lease in Texas is horrible. Long time ago a member from Texas attempted to lease an M6 from California. His quote (monthly payment) was $300 less than Texas

[Vic55]

Originally Posted by M6-Coupe

Correct. Lease in Texas is horrible. Long time ago a member from Texas attempted to lease an M6 from California. His quote (monthly payment) was $300 less than Texas

Its because its an upfront state--- can't apply tax to the lease payments only but instead one has to pay tax on the price of the car like a buy. This renders leasing less useful on non subvented programs unless there are tax implications that the lessee is taking advantage of.

[Vic55]

Originally Posted by URBAN LEGEND

3 years at 12,000 miles annually with $5,000 due at signing the monthly payment comes to $3,690.

Yes or no?

Ok I got some info from my friends at PFS:

Current residual on Turbo S with an mrm of 202k is 50% for 15k at 3 years.

Your residual is 52% since you were quoting 12k (add 2%)

Assumptions:

You paid all taxes up front and reg/license fees
you will pay msrp for the car and your credit is over 740 so you got a .00200 buy rate with NO dealer markup:

194000 x .52 = 100880 (residual)
194000-100880/36 = base depreciation per month of 2586.66
Lease Service Charge = 194000+100880 x .00200 = 589.76
2586.66 plus 589.76 = 3176.42 --- so they did mark up the rate even if they rolled some of the taxes into the cost of the car (see below)

Now these are again assumptions that you paid taxes up front. But.. 194000 x .0625 (if that's your tax rate) = 12125 plus lic/reg fees and PFS acq fee. So best guess would be around 13500 in taxes and fees. It appears they rolled some of the fees into your gross cap cost of the car but only up to MRM of 202k since they can't residualize past this amount.

[wrsbmw]

Originally Posted by M6-Coupe

157k including 9812 tax and 1595 tire insurance or just price tag?

No, price was $157k, then add $9812 and $1595 and subtract $60k and that is what I financed for $2036.

[M6-Coupe]

Originally Posted by wrsbmw

No, price was $157k, then add $9812 and $1595 and subtract $60k and that is what I financed for $2036.

Oh now make sense

[M6-Coupe]

Originally Posted by Vic55

Ok I got some info from my friends at PFS:

Current residual on Turbo S with an mrm of 202k is 50% for 15k at 3 years.

Your residual is 52% since you were quoting 12k (add 2%)

Assumptions:

You paid all taxes up front and reg/license fees
you will pay msrp for the car and your credit is over 740 so you got a .00200 buy rate with NO dealer markup:

194000 x .52 = 100880 (residual)
194000-100880/36 = base depreciation per month of 2586.66
Lease Service Charge = 194000+100880 x .00200 = 589.76
2586.66 plus 589.76 = 3176.42 --- so they did mark up the rate even if they rolled some of the taxes into the cost of the car (see below)

Now these are again assumptions that you paid taxes up front. But.. 194000 x .0625 (if that's your tax rate) = 12125 plus lic/reg fees and PFS acq fee. So best guess would be around 13500 in taxes and fees. It appears they rolled some of the fees into your gross cap cost of the car but only up to MRM of 202k since they can't residualize past this amount.

Good calculation
Just let me add that the payment of the same car in California will be ~3430 (tax included) with zero down payment and 5k drive off (including licence and registration and other fees + first month payment) using the same numbers (MF, Residual)

[wrsbmw]

Well the OP deal looks horrible to me. You pay $137840 in three years and at the end of that time you own nothing. I on the other hand own the car when I am done after paying $182160. I think the car will be worth substantially more than the $45,000 after 5 years. Of course I guess the OP can buy the car out for an additional $100k? Then after three years he has a car that cost him $238k vs $182k for my deal.

Am I missing something here?

[URBAN LEGEND]

Originally Posted by wrsbmw

Well the OP deal looks horrible to me. You pay $137840 in three years and at the end of that time you own nothing. I on the other hand own the car when I am done after paying $182160. I think the car will be worth substantially more than the $45,000 after 5 years. Of course I guess the OP can buy the car out for an additional $100k? Then after three years he has a car that cost him $238k vs $182k for my deal.

Am I missing something here?

You are not missing anything. That Porsche dealer is insane.

[URBAN LEGEND]

All of the Pros came out on this one. Thank you. No way I was going to pay that crazy amount.

[Vic55]

Originally Posted by wrsbmw

Well the OP deal looks horrible to me. You pay $137840 in three years and at the end of that time you own nothing. I on the other hand own the car when I am done after paying $182160. I think the car will be worth substantially more than the $45,000 after 5 years. Of course I guess the OP can buy the car out for an additional $100k? Then after three years he has a car that cost him $238k vs $182k for my deal.

Am I missing something here?

Not really except

new vs used (big time depreciation on the S cars in the first year which you took good advantage of)
5k vs 60k in initial investment (can he invest the 55k net somewhere else?)
Does he have a tax incentive based on what he does for a living where he can write off the lease payment or part of it?


Like I said, Texas isn't a make sense state to lease for most. Now he just got a basic quote and there is about 11% in the price of the car from msrp to invoice. So maybe he has some work to do?

In California he would pay at lot less in tax if he leased (only applied to each payment and not based on the price of the car) and if he wanted out of the car early he would have to worry about the tax of the entire price already added in the deal or the unearned lease interest monies.

[M6-Coupe]

Originally Posted by wrsbmw

Well the OP deal looks horrible to me. You pay $137840 in three years and at the end of that time you own nothing. I on the other hand own the car when I am done after paying $182160. I think the car will be worth substantially more than the $45,000 after 5 years. Of course I guess the OP can buy the car out for an additional $100k? Then after three years he has a car that cost him $238k vs $182k for my deal.

Am I missing something here?

Well it's the same thing. He pays 138k and as you said after 3 years he has nothing. you pay 182k and after 5 years you own 45k. 182k-45k= 137k so you almost pay the same money with exception that you drive your car for 5 years and he drives his car for 3 years. you have 2 more years enjoyment

Edit: You are right. Your car worth more than 45k after 5 years. I misread your quote

[Spinny02]

could only be Momentum or P WEST... I buy from Park Place on lemon in Dallas. I have heard good things about P North Houston as well. They are not a Sonic stealership.