ralper

I can't find anything about the Boxster to like. I think the Cayman is an entirely different car.

That said, I probably won't ever buy either. I don't like what Porsche has come to stand for.

Chris Stack

Odd, considering we resolved in this thread that aside from the inherent advantages of a fixed roof over an open car, and some suspension settings, there really is no difference between the cars (there are looks, too, I suppose).

I have no experience with the higher models, but a base 2.7 986 was one of the most enjoyable cars I've ever driven, feel-wise.

dlq04

If you'll match those "ridiculously low payments" you'll have, I'd be glad to.

BTW, as someone who has never considered a lease before I was wondering if there's some magic % or $ amount that makes the most sense if one's considering this approach. Or is it all driven by trying to get a monthly payment you can live with. When the salesman (who never called me back) asked how much I wanted to put down, I said $10k just off the top of my head.

Chris Stack

Convential wisdom says to avoid putting ANY money down on a lease, if possible.

Here's why.

Leasing makes the most sense if you can either A) write it off, or B) know you are only going to own it a short time. In almost all other cases, leasing does not make financial sense (but if you are just trying to drive a car you couldn't otherwise afford, maybe that's fine with you).

dlq04

Thanks Chris. That's a good link; I'd forgotten Edmonds did such an indepth look into the subject.

I know leasing has never made any sense for me in the past. I looked into it years ago when it became so trendy.

I tend to search and search and search some more, then find what I really want and usually love, buy it, and if it lives up to my expectations (quality, ride, handling, etc.) I will enjoy it till the wheels fall off. For example, I'm still driving a '90 Maxima, bought new, and I still love it. It's roll in my life has changed some over the years, that's all.

It's hard for to imagine that I've owned the S2000 for 5-1/2 years. It's even harder to imagine that I am thinking of moving up to the Cayman. I was dead serious that the S2000 was a life-time keeper. But then I swore when I bought the Max that was as high as I'd ever go. Even with inflation I doubt I'd be any where near the $35k for the S2000 (my-out-the-door). And $60k! Yikes.

dlq04

From Rennlist Discussion on the Cayman, any comments?:

Here's a post from a guy on Edmunds:

"Went in to the local dealer yesterday just to see if I fit in a Cayman, to squelch the dream so to speak. Turns out I fit and the salesman made me an offer straight-up that I could/can find little fault with, though I'm still suspicious. 24 months/10K, 3500 down plus first months, $499 per month. I read the detail up and down and could not find fault with it, but kept thinking I missed something. The MSRP was 54K, the final price was $47K, with 73% residual and 7.3% interest."
__________________

And a comment on the post:
$3500 down means about $150 less a month over 24 months. 27% depreciation over 2 years is about right, but a tad high, considering popular cars (Camry etc) will be down 33% in 3 years. My guess is that the final price of 47K includes the 3500 down. If not, then it seems to be an aggressive push because getting 6K off sticker means close to 12% off. Interest rate is about right for Porsche financing.

Poindexter

That's a pretty good summation


I decided not to lease. I stepped up to the Cayman S with some options and the payments were identical between the 24 month lease and 72 month buy, but the amoritization on the 72 month purchase at the end of 24 months was much lower than the residual on the lease. On top of that, I figured that I was going to put the kind of miles on this car that I did with the S2000 (two cars that are an absolute blast to drive), and I can get out of the purchase a little easier if something ever comes up.

I saw that post on Rennlist - that's about right

PLYRS 3

i'm not a theory person, i'm a numbers person....

here's how i do it:

lease:

down payment + (monthly x # of months) + residual = cost of car to you.

loan:

down payment + (monthly x # of months) = cost of car to you.

in almost all instances, the lease will be lower (shorter interst term, smaller absolute interst dollars, less cash outlay).

since with the loan, you own the car, you have to add back residual value in lease scenario to give the illusion of ownership (i.e. i'll buy the car back at the end of the lease)

Chris Stack

For a lease, you also have to take into account the limited number of miles/potential mileage penalty, the inability to perform modifications on the car unless they are completely reversable, and potential wear and tear penalties.

PLYRS 3

the vehicle will depreciate the same no matter which scheme you are under....so will the condition of the vehicle, for that matter.

re: mods....take them off before the lease is up. no diff. than a potential buyer of a used car who may not want mods.