Porsche LeasIng Deals US v UK
Discussion
Looking at the U.S. website Porsche US offer some very attractive deals on new metal.
New 2015 991 for just $999 pcm with $6,999 deposit over 27 months. New Boxster $699 pcm with $4,699 deposit over the same term.
Now, I don't believe there is anything comparable on offer here in the UK but is that just because Porsche are satisfying their largest market or are we just being stiffed?
Interestingly, found out a work colleague in Holland also leases his 911, seems it is the done thing there too.
New 2015 991 for just $999 pcm with $6,999 deposit over 27 months. New Boxster $699 pcm with $4,699 deposit over the same term.
Now, I don't believe there is anything comparable on offer here in the UK but is that just because Porsche are satisfying their largest market or are we just being stiffed?
Interestingly, found out a work colleague in Holland also leases his 911, seems it is the done thing there too.
I think it more relates to the market and competition in the respective areas...
Similar to houses are cheaper in the North compared to the South of England... Same house, same bricks, same soil etc.. but much more expensive!
We do get shafted I guess but Porsche (and other manufacturers) sell and finance for as much profit as they can get away with and lets face it we might moan and complain but we still buy them at higher finance and lease rates than other countries! I'm sure it's more expensive to lease in some countries than the UK too so I guess it's down to how important is the market to Porsche and the US I think is the biggest market for Porsche so I've read (feel free to correct me though)
Similar to houses are cheaper in the North compared to the South of England... Same house, same bricks, same soil etc.. but much more expensive!
We do get shafted I guess but Porsche (and other manufacturers) sell and finance for as much profit as they can get away with and lets face it we might moan and complain but we still buy them at higher finance and lease rates than other countries! I'm sure it's more expensive to lease in some countries than the UK too so I guess it's down to how important is the market to Porsche and the US I think is the biggest market for Porsche so I've read (feel free to correct me though)
Edited by sootyvrs on Wednesday 7th January 17:00
Tax must play a large part in the answer. Due to variance (anywhere from 0-7.5%) you see US prices displayed pre sales tax with the amounted added later at the time/point of sale. That is a 13.5-20% difference straight away.
Then there is the cost of doing business in the UK (rent, rates etc.) all of which will add a few more percentage points vs our US cousins.
Then there will be the rates at which Porsche can finance loans in the UK when I suspect, despite being a German company, they have much less desire for GBP than they do for USD.
Then there is what the market will accept....
Then there is the cost of doing business in the UK (rent, rates etc.) all of which will add a few more percentage points vs our US cousins.
Then there will be the rates at which Porsche can finance loans in the UK when I suspect, despite being a German company, they have much less desire for GBP than they do for USD.
Then there is what the market will accept....
It's not a Porsche thing - all makes and models of car lease for way lower than in the UK.
Apart from the tax / VAT differences, the other big thing is that residuals are much higher in the US. To be honest, I've never understood that - it especially makes little sense for used prices to be high when you can lease new for such low cost.
Apart from the tax / VAT differences, the other big thing is that residuals are much higher in the US. To be honest, I've never understood that - it especially makes little sense for used prices to be high when you can lease new for such low cost.
Sheepshanks said:
It's not a Porsche thing - all makes and models of car lease for way lower than in the UK.
Apart from the tax / VAT differences, the other big thing is that residuals are much higher in the US. To be honest, I've never understood that - it especially makes little sense for used prices to be high when you can lease new for such low cost.
I believe the UK is one of the best (for used buyers) or worst (for new buyers) car markets for depreciation in Europe, if not the world. The largest element of any lease is most likely covering the cost of depreciation. Therein lies fourfivesix's answer - compare Porsche residual values/percentage depreciation in the US (or anywhere in the world) vs. the UK.Apart from the tax / VAT differences, the other big thing is that residuals are much higher in the US. To be honest, I've never understood that - it especially makes little sense for used prices to be high when you can lease new for such low cost.
If you arrive at the US dealer to do the deal it will not come out at that price. When I was out there in 2006 the mk5 gti was out and advertised from $21k about 15k gbp new. I went into several dealers and haggled etc. the cheapest I could get into one with wheels on and wipers etc was $32k. It was a saving compared to the uk but not worth the trouble to bring back with me.
jw673 said:
I believe the UK is one of the best (for used buyers) or worst (for new buyers) car markets for depreciation in Europe, if not the world. The largest element of any lease is most likely covering the cost of depreciation. Therein lies fourfivesix's answer - compare Porsche residual values/percentage depreciation in the US (or anywhere in the world) vs. the UK.
I think that's true, too. Certainly colleagues from elsewhere in Europe are amazed at how low used car prices are here. I reckon our twice yearly plate change makes cars seem old very quickly - as far as I know the UK is unique in doing this.It's also a pity we didn't adopt LHD then the market our cars could be sold in would be much bigger. Although I've seen stories of Eastern Europeans buying cheap RHD cars in the UK - apparently they convert them to LHD and can still make money on them.
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