This is my exact situation (real estate) and I write off 80-90% of my X5 & Carrera. I legitimately use them both mostly for business and put 10-12K miles/year on each car rather than 20-25K miles/year on one car. The X5 is for when I'm taking clients around and the Carrera is for running around town and client stuff when they will NOT see the car. I don't like clients knowing I have a car with a $112K MSRP...not the impression I want to give. Leasing gives me fantastic tax benefits to justify carrying payments on 2 cars. Cash wouldn't make any sense for me. Most of my social stuff is at or near home w/o much of a drive (if any) or I drive my old Lexus LX, which is not written off in any way. Sorry to ramble and beat a dead horse --- bottom line, as stated before, an individual's situation determines the best solution. I'm just glad we're all able to drive these cars, no matter how we choose to pay for them!

 

i guess lease works for people with a business, but i bought mine, and couldnt imagine the day i couldn't take mine car out for a long drive with the misses, because i have to worry about my mileage .... that would suck, big time.....

 

Ahhh, but I was smart about it. I bought personally, so the tax write off, etc thru the business, does not apply. My deal was based on about 23% off sticker and if I went 1.9%, it would have been $10K more , before figuring in the finance charges over 60mo. My dealer said cause you cannot get from Porsche the great rate and "money in trunk" giveback on a cash deal together. So I weighed that and hands down the cash deal won. I also never considered a lease, cause like I said before "emotionally" I wanted to personally own my first 911 and not rent it. I want the freedom to slap custom rims on her, exhaust, engine mods and anything else my heart desires. I have nothing against leasing and I lease most of my vehicles, but my toys I always buy.

 

I leased mine, negotiated 15K/yr so I dont have to worry about not driving her around and Im able to write her off.

 

like i said b4, it is perfect for business owners, jmane55 is a business person, it would be not smart to pay cash if you own a business, and dont write your car off.
jmane55, how much over your miles you have to pay back....

 

I agree with several of the folks here - pay cash for toys and that's what I did.

 

however you it, just drive the heck out of it, and enjoy you ride..... whatever suits you, as long as you dont worry about driving her...

 

I don't disagree with the logic and benefits of paying cash for a car like a 911. Unlike nearly every other car on earth, 911s don't change every few years so that subconsciously your current car feels dated.

I noticed that the word toy was used very frequently on this thread. Well, my "toy" is now my daily road partner. I've got a Porsche car seat and winter floor liners on order, a heated steering wheel and I just got a set of Conti winter tires on Carrera III rims.

I leased my 09' C2, and after I drive it every day for 3 years, god willing, I'll have the option of getting into an S. I haven't been on this earth for much over three decades and I won't reach my profession's prime earning years for another decade or so (during which time I will need to upgrade my house, put my child(ren) through school, etc.. etc..) So, as for writing a 6 figure check for my daily vehicle (which I now lease and write off), I don't see that happening for another 20+ years.

I just figured, why wait that long to enjoy this car? It's incredible! Carpe Diem! Right?

DRP

 

Its just a financial decision. There is no correct answer. It depends on YOUR situation. For those who say pay cash for a toy - its probably a good mantra because it means you can afford it. It doesnt mean its the smartest thing to do financially - all the time.

I bought my 04 and leased my 09. When the time came to get the 09 I had an investment option that yields quite a bit more than the 1.9% cost to lease the Porsche. It seemed like an easy decision to put the cash into the investment vs. subtracting $100K and buying a depreciating toy. The difference alone pretty much pays for the car. When I bought the 04, I didnt have that available to me and buying made more sense.

 

to each there own.

 

I think the poll speaks for itself.

Then again, a Porsche for business is pretty nice. If writing off 90% of the car, it allows one to get into an $1200 Porsche lease for ~40% less compared to a private buyer. This allows for many get into an unaffordable car on the cheap. That said, many can buy a Porsche outright if they wanted but feel (rightly so) the smart money is on the lease.

 

The snag with the "it's great for business" argument only figures a three year ownership period . It does not consider the owner who may keep a car very long term (like 9 years = 3 leases = 3 sets of inceptions /finance fees = 3 sets of rapid depreciation = no equity = if the business collapses then the owner has nothing but paper receipts plus no business) .

 

If one wants to get a new car every 3-4 years and can write off a certain % due to self employment, then leasing is an attractive option. Of course, I agree that if you want to keep your car for a longer time like 5 yrs plus then buying it makes more sense.

I leased my 06 Boxster S (going back next month) and I'm leasing my 09 911 with no regrets. You only live once, as long as one is not stretching to do this.

Whether buying or leasing we are very fortunate to be able to enjoy such a wonderful car.

 

I purchased it out right. I bought the car knowing I would never stop modifying it. Doesn't really make sense to mod the hell out of a lease. The S550 is a lease, only mods are the 22's.

 

Interesting....I believe it would be safe to say that 99% of people on this board either are or can claim to be "enthusiasts" to varying degrees. Hence, statistical data leaning to purchase over lease.

However, I wonder what percentage of 911 drivers are enthusiasts when you consider the "whole lot" of 911 customers?

I see what appears to be a great number of what looks to be "trophy wives" and/or little old Asian ladies driving 911's around town which makes me wonder if more people lease overall???

No offense intended (1/4 Asian). Just observations.