Hi Guys,

Looking into getting into a Turbo S and got this offer today. Please help me out.

2015 Turbo S $191 MSRP. Getting 8% discount - 36month lease, 10k miles per year @ $2894.79inc taxes with $7950 down. I have the residual info/buyout at the office but just wanted your opinion.

 

Payment means nothing.

Can't comment without the residual and MF.

 

You have nothing after you walk away from a lease. Put $75k into it and pay 1900/mo then when you decide to walk away from it, you aren't in the position of having nothing in it and no bargaining position. If you can't do that, you really shouldn't buy one of these. There is no deflation, money loses value faster than ever now. Inflation is all hidden in the calculations made by the Fed but is evident to anyone with eyes. The only thing that is cheaper is oil related products but don't bet on that lasting too long. The rest of the stuff just keeps going up. Did they drop the price of a new 991 TTS?

 

I was looking at leasing a $194 MSRP TTS a few months ago, without knowing the details your lease offer sounds ok.

Leasing makes sense for a lot of people who own companies. I only buy where I can get a section 179 deduction.

I do not use the manufacturer but rather a private leasing company. I deduct 100% of lease payments and set the residual as low as possible. The gain at the end (if any) through exercising the buyout option and selling is not taxed. If you are smart about the process you can have a large gain

If you buy you only get to deduct the depreciation component...NOT interest or tax.

As the saying goes, if it drives, flies, floats or fu*ks, lease it.

 

I owned my own company for 15 years and I am wondering how you are getting a 179 deduction on a lease item. That is supposedly an expense anyway unless you own at the end of the lease, 179 is for directly deducting capex. Claiming a 991TTS as a useful business vehicle is a stretch and if you like getting audited then by all means, do it. If you sell real-estate big cars have been OK but you still have to detail how much personal use and company use there is and you better have logs if you do get audited. I am just curious where you could get a 179 deduction on a 991tts unless you are a developer of performance automotive parts, in that case, you can definitely do it.

 

Please re-read my post. I only BUY where I can get a section 179 deduction.

Otherwise I lease.

 

Right, I misread it and that is why I questioned getting a 179 deduction on a car lease. However, you can do that if the equipment is owned at the end of the lease, as I pointed out. I used to do that with computers I leased from IBM.

 

Could you explain how this works? Sounds interesting. Just can't see how it works when signing papers at the dealership and a third party leasor is involved.

 

Your effective monthly payment is $3115. And you'll have paid out: $112,162 after 36 months. Only part you're missing is the residual value to know if it's a good deal or not.

 

Any third party leasing company like Putnam Leasing will facilitate this for you at acquisition. You just need to work with them and get pre-qualified like you would through your own bank.

 

NEW UPDATED #'s

2016 Turbo S
$189950 discounted to $176400
Rate: 2.0
Advance Payment: 1
8 Days: 30
Doc Fee: $599
Total INT Payment: $800.65
Term:36 months
Milage: 10k
Risidual: .53
Residual: $100,673.50
Gov Fees: $963.50
Taxes: $7957.88
Payment: $2898.69

Please advise

EDIT: Free enclosed shipping from NJ to OC

 

I have no plan on buying the car. I would not put 75K. This car will be a 100% business expense as i'm in real estate and i drive a Range for personal use.

 

I would see if you can do better on the dealer discount then that. I know people who have gotten discounts when they bought their 2014s and 2015 TTS's of $25,000-26,000. Including me

 

This is a 2016 tho..?

 

True that. no harm in seeing if you can push for more discount anyway