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Discussion Starter · #1 ·
Those of you who have a 718, did you buy or lease, and why?
 

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Those of you who have a 718, did you buy or lease, and why?
Lease:
Cheaper for the 3 years you have it (I hate to admit it, but I was stretching my budget - but my budget just got bigger [raise :D]), and I usually end up not keeping cars for too long (as much as I try to tell myself "I'll keep this one for awhile!"). Also, at the end of the lease I can reconsider what I need in my life (4 doors? back seats?).
Ideally, I wanted a 911 C4S, so maybe I can swing a deal for a nice C4S lease at the end of this lease :D

Reasons for leasing (in general):
Turn it in and done at end of lease, you're not stuck with the depreciation.
You change cars anyway, so why not pay less while you have one?

Reasons to not lease:
You like to spend $$ on your car - paint protection, ceramic coating, aftermarket accessories (exhaust, tune). If you turn it in at the end, this is "wasted" $$ in a lot of people's eyes.

If you know you're going to keep it longer than the lease period from the outset, my advice is to buy it.
 

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Discussion Starter · #3 ·
Lease:
Cheaper for the 3 years you have it (I hate to admit it, but I was stretching my budget), and I usually end up not keeping cars for too long (as much as I try to tell myself "I'll keep this one for awhile!"). Also, at the end of the lease I can reconsider what I need in my life (4 doors? back seats?).
Ideally, I wanted a 911 C4S, so maybe I can swing a deal for a nice C4S lease at the end of this lease

Reasons for leasing (in general):
Turn it in and done at end of lease, you're not stuck with the depreciation.
You change cars anyway, so why not pay less while you have one?

If you know you're going to keep it longer than the lease period from the outset, my advice is to buy it.
I generally lease my vehicles but never before on a sports car. What did you choose for your the lease length/miles, and why?
 

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Unless your company owns the car, I would never consider a lease. If you're "stretching your budget" to make a large aspirational purchase like a new Porsche, I'd also think long and hard about purchasing one too. Put another way, if interest rates were 3x what they are now and the stock market was 20-30% lower'across the board, your income was crimped (maybe you're on a salary in a rock-solid industry, I don't know) would you be making a large aspirational purchase?

These are the sorts of things I would be thinking about as an aspirational consumer in what is a weird economy that has literally every single "expert" flummoxed.

Sorry in advance for being a dark cloud, but it is raining here.
 

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Discussion Starter · #5 ·
Unless your company owns the car, I would never consider a lease. If you're "stretching your budget" to make a large aspirational purchase like a new Porsche, I'd also think long and hard about purchasing one too. Put another way, if interest rates were 3x what they are now and the stock market was 20-30% lower across the board, your income was crimped (maybe you're on a salary in a rock-solid industry, I don't know) would you be making a large aspirational purchase?

These are the sorts of things I would be thinking about as an aspirational consumer in what is a weird economy that has literally every single "expert" flummoxed.

Sorry in advance for being a dark cloud, but it is raining here.
I don't lease because buying would stretch my budget, I do it because I like something new every 3 years without having the worry of selling the vehicle myself when I'm done with it. It's an added benefit that I don't have to put any money down when I lease (which you NEVER want to do with a lease). Also, if I happen to lease a car that I love so much at the end of the lease term that I want to keep it (which has never happened to me yet but perhaps it will with the 718), I have that option.

I haven't decided on leasing or buying yet, just curious as to what others have done and what their reasoning was - in case I'm missing something.
 

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I never considered leasing because I've always wanted to buy my cars, keep them for a long time and feel free to make any modifications or not repair any damage as I see fit.

But don't the leases for P cars usually limit you to something like five thousand miles (8046 km) each year? I've driven that in a month before; I couldn't let that limit me.
 

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Discussion Starter · #7 ·
I never considered leasing because I've always wanted to buy my cars, keep them for a long time and feel free to make any modifications or not repair any damage as I see fit.

But don't the leases for P cars usually limit you to something like five thousand miles (8046 km) each year? I've driven that in a month before; I couldn't let that limit me.
If you are looking to mod your car a lease wouldn't make sense but Porsche doesn't limit you on how many years/miles you can lease the car for.
 

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I generally lease my vehicles but never before on a sports car. What did you choose for your the lease length/miles, and why?
The fact it was a sports car didn't factor in to it - at the end of the day whatever I got would be a daily driver. Sure, it's an expensive daily driver but I wanted it, so I got it :D
It was a 39mo/36000mi lease - I'll probably get very close to that mileage or slightly over if I have the lease the full 39months.

Considering my current miles (doing about 1000 a month) it will definitely be close.
 

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I generally lease my vehicles but never before on a sports car. What did you choose for your the lease length/miles, and why?
I don't lease because buying would stretch my budget, I do it because I like something new every 3 years without having the worry of selling the vehicle myself when I'm done with it. It's an added benefit that I don't have to put any money down when I lease (which you NEVER want to do with a lease). Also, if I happen to lease a car that I love so much at the end of the lease term that I want to keep it (which has never happened to me yet but perhaps it will with the 718), I have that option.

I haven't decided on leasing or buying yet, just curious as to what others have done and what their reasoning was - in case I'm missing something.
I don't understand your indecision, you have leased in the past and generally do so, this 'car' should be no different...
 

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I generally lease my vehicles but never before on a sports car. What did you choose for your the lease length/miles, and why?
I don't understand your indecision, you have leased in the past and generally do so, this 'car' should be no different...
@OP I have to agree with Westcoaster - it's a vehicle. Sports car or not your ownership style isn't changing... so it shouldn't change purchase vs. lease.
But, with the amount of time you've been changing your order, making sure you got the right options, and posting around before even buying.... maybe you think this car is special and will keep it?

Either way: BUY IT ALREADY. You've been waiting long enough :banana:
 

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I don't lease because buying would stretch my budget, I do it because I like something new every 3 years without having the worry of selling the vehicle myself when I'm done with it. It's an added benefit that I don't have to put any money down when I lease (which you NEVER want to do with a lease). Also, if I happen to lease a car that I love so much at the end of the lease term that I want to keep it (which has never happened to me yet but perhaps it will with the 718), I have that option.

I haven't decided on leasing or buying yet, just curious as to what others have done and what their reasoning was - in case I'm missing something.
Selling a Porsche isn't really too hard and certainly shouldn't cause any worry, as long as you have title in hand, you're realistic on your price and you have taken exceptionally good care of the car (over and above the obvious like garaging it). I've never had a problem selling one, since if your car smartly optioned and is in truly excellent you can draw a buyer from pretty far away. I've never sold a Porsche to a person that even lives in my state.

Personally, I would never consider leasing as an advantage to buying for that reason, at least until I'd had a car that turned out to be a struggle to get rid of. I've even sold a new Porsche after only 18 months, and that turned out to be no sweat, especially since the state in which I live credits you the sales tax on your next vehicle. Not all states are that tax friendly, though, so leasing has more appeal in those states.

Even if you don't want to try and sell it on your own, every single Porsche dealer absolutely struggles to find exceptional one owner well-optioned trades. I even sold a Boxster to a Porsche dealer once without buying anything from them. Their price was so good that I saw no reason to even try doing it myself.

The only reason I'm taking the time to write this is to boost the confidence of you as well as anyone else who reads this. Selling a top 5% Porsche just isn't that hard. Demand for these cars is always high.

By the way, my Yukon DD is leased, but my company owns it and at the time I bought it GM had all of the incentives on the lease, so it just made zero sense to buy it, no matter which way I ran the numbers. I'm open-minded about leasing, I just have only had the one experience where a lease made more sense than a buy.
 

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Selling a Porsche isn't really too hard and certainly shouldn't cause any worry, as long as you have title in hand, you're realistic on your price and you have taken exceptionally good care of the car (over and above the obvious like garaging it). I've never had a problem selling one, since if your car smartly optioned and is in truly excellent you can draw a buyer from pretty far away. I've never sold a Porsche to a person that even lives in my state.

Personally, I would never consider leasing as an advantage to buying for that reason, at least until I'd had a car that turned out to be a struggle to get rid of. I've even sold a new Porsche after only 18 months, and that turned out to be no sweat, especially since the state in which I live credits you the sales tax on your next vehicle. Not all states are that tax friendly, though, so leasing has more appeal in those states.

Even if you don't want to try and sell it on your own, every single Porsche dealer absolutely struggles to find exceptional one owner well-optioned trades. I even sold a Boxster to a Porsche dealer once without buying anything from them. Their price was so good that I saw no reason to even try doing it myself.

The only reason I'm taking the time to write this is to boost the confidence of you as well as anyone else who reads this. Selling a top 5% Porsche just isn't that hard. Demand for these cars is always high.

By the way, my Yukon DD is leased, but my company owns it and at the time I bought it GM had all of the incentives on the lease, so it just made zero sense to buy it, no matter which way I ran the numbers. I'm open-minded about leasing, I just have only had the one experience where a lease made more sense than a buy.
Completely agree with you regarding how easy it is to sell a well maintained car. Over the decades I've sold six 911s, and the longest interval between placing the car for sale and having a buyer was two weeks. In my case I average 3 - 4K miles on my sports cars each year, and keep the car for around 6 years. Even after 6 years, I have no problem getting at least 50% of what I paid for my Porsches. My last 911 is a good example. I bought my 997S for $97K in 2007 and sold it for $59K in 2013 in a private sale. My 997 had 26,000 miles on it at sale time. So excluding maintenance and insurance, my 997 cost me $38K after six years. I would have spent at least $38K on a 997S for a three year lease. So leasing never made sense to me for the type of driving that I do.
 

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Discussion Starter · #13 ·
But, with the amount of time you've been changing your order, making sure you got the right options, and posting around before even buying
You're right, I shouldn't be posting questions/comments on this site until AFTER I buy. My mistake, I thought this was a site where a buyer could learn a thing or two about the 718 to aid in their purchase decision-making process? I'm sure I'm the only one who has flip-flopped on which options / color combinations they like along the way to placing an order - and for that I apologize.

But seriously, my order is going to be placed right after the first of the year so that I can take delivery after the snow melts here in New England. No sense in ordering now and taking delivery in the dead of winter. Unfortunately that means I still have a few months to ask questions and flip-flop on options/colors - but I'll try and keep my posts/questions/comments to a minimum.
 

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You're right, I shouldn't be posting questions/comments on this site until AFTER I buy. My mistake, I thought this was a site where a buyer could learn a thing or two about the 718 to aid in their purchase decision-making process? I'm sure I'm the only one who has flip-flopped on which options / color combinations they like along the way to placing an order - and for that I apologize.

But seriously, my order is going to be placed right after the first of the year so that I can take delivery after the snow melts here in New England. No sense in ordering now and taking delivery in the dead of winter. Unfortunately that means I still have a few months to ask questions and flip-flop on options/colors - but I'll try and keep my posts/questions/comments to a minimum.
Don't take what I meant the wrong way - that's absolutely the best thing to do (making sure you're making the right decision). I'm just pushing your buttons about it is all :)
And if you care about it that much, maybe that means you are looking to buy? (instead of lease)

In no way did I intend to chastise you for posting and asking questions
 

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Discussion Starter · #15 ·
Don't take what I meant the wrong way - that's absolutely the best thing to do (making sure you're making the right decision). I'm just pushing your buttons about it is all
And if you care about it that much, maybe that means you are looking to buy? (instead of lease)

In no way did I intend to chastise you for posting and asking questions
No offense taken - and you're right - even though I have generally leased my vehicles over the last 10-12 years I'm definitely leaning towards purchasing a 718. There is something about purchasing a vehicle that makes it feel more like it's yours (even if you're paying off a loan) then leasing a car, which always feels like your just renting it.
 

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i looked at leasing my 718 and it didn't make a lot of sense to me. The terms were not favorable and weren't worth the "insurance" you get when leasing a car vs. buying. I ended up financing at 2% and the payment was not much different.
 

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Completely agree with you regarding how easy it is to sell a well maintained car. Over the decades I've sold six 911s, and the longest interval between placing the car for sale and having a buyer was two weeks. In my case I average 3 - 4K miles on my sports cars each year, and keep the car for around 6 years. Even after 6 years, I have no problem getting at least 50% of what I paid for my Porsches. My last 911 is a good example. I bought my 997S for $97K in 2007 and sold it for $59K in 2013 in a private sale. My 997 had 26,000 miles on it at sale time. So excluding maintenance and insurance, my 997 cost me $38K after six years. I would have spent at least $38K on a 997S for a three year lease. So leasing never made sense to me for the type of driving that I do.
Thanks for the confirmation, and I'll reinforce what was just said. If you've got a low miles car it's going to draw the most attention since most people would agree that miles on a Porsche are more important than the age. So, the more miles you put on the car the better sense a lease will make. Again, a nice Porsche is really easy to sell.

Also one huge plus to a lease, one I hope you never have to make use of, is diminished value in case of an accident. If you don't own the car then it's not your problem to worry about.
 

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that's gotta be with a massive down payment
Massive downpayment for what? The purchase I put down $5k and finance payment was $1100 for 60 months. Lease was around $900 for 36 months with similar amount down. In Texas you pay the sales tax twice if you buy a leased vehicle at the end of the term so that factored into my decision too.
 

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Oh gotcha, local dealer here has a 650/month lease 'special' on 69k 718 Boxsters with 7k due at signing. 599/month for Caymans. Getting a monthly payment that low requires quite a bit down.
 
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