Porsche finacial lease buyout

[ItsPaulS]

Ordered a Porsche Taycan that will be delivered in July 2025. I'm looking to lease the car to get the $7500 cap reduction, but the MF is outrageous (8.4%). 

My thought was to buy out the lease after a month with Navy Federal credit union. From what I understand it would be a refi for a new because it's a 2025, under 7500 miles , with a 4.49% for 60 months, loan amount $170,000. 

How difficult is it to get approved for a $170,000 loan as self employed with Navy federal? I know they do stated income auto loans, but it's a different story on such a large loan. 

What can I do to increase my probability with them for a loan? 

[jcar]

My recommendation would be to reach out to NFCU directly now so that they can run a soft analysis and give you soft terms. 

[ItsPaulS]

I've tried but they are very vague and don't give any details. 

I did open a savings and checking account to start showing activity 

[jcar]

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@ItsPaulS wrote:

I've tried but they are very vague and don't give any details. 

I did open a savings and checking account to start showing activity 

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You could walk into a branch location and speak with someone in person (unless that's what you did).  

If they are still being too vague, you may have to wait until then.  But you haven't actually locked in the terms yet (8.4%) anyway, have you? Interest rates can change quickly and could be lower by the time you take delivery. 

[cashorcharge]

I didn't think getting the $7500 on a car with a $170K MSRP was possible.  I had leased a $100K+ car and the credit was not available due to the MSRP....so instead, they gave me the credit off the price of the car (manufacturer incentive to the dealer then to me) so I would get the funds/credit towards the purchase as it was not claimable as a tax credit even on a lease.

Regarding the loan, Yes...it would be a refinance with the terms you stated.  I financed a $167K new car (not a buyout) from them and the process was seamless...but I have W2 income...not sure the complexity of stated and how that factors in.  Part of their process is auto-debit to their checking account so you may need to use that to make the payment and if they aren't your primary FI, you can obviously just transfer funds in to the account in advance of the payment.

[ItsPaulS]

Great point about going in to a branch. I'm in California and I didn't think there were any physical locations, but that's PenFed. 

My rate is not locked but Porsche finacial always has atrocious money factors. A CU will always have rates at half of what Porsche has

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@jcar wrote:

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@ItsPaulS wrote:

I've tried but they are very vague and don't give any details. 

I did open a savings and checking account to start showing activity 

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You could walk into a branch location and speak with someone in person (unless that's what you did).  

If they are still being too vague, you may have to wait until then.  But you haven't actually locked in the terms yet (8.4%) anyway, have you? Interest rates can change quickly and could be lower by the time you take delivery. 

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[ItsPaulS]

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@cashorcharge wrote:

I didn't think getting the $7500 on a car with a $170K MSRP was possible.  I had leased a $100K+ car and the credit was not available due to the MSRP....so instead, they gave me the credit off the price of the car (manufacturer incentive to the dealer then to me) so I would get the funds/credit towards the purchase as it was not claimable as a tax credit even on a lease.

Regarding the loan, Yes...it would be a refinance with the terms you stated.  I financed a $167K new car (not a buyout) from them and the process was seamless...but I have W2 income...not sure the complexity of stated and how that factors in.  Part of their process is auto-debit to their checking account so you may need to use that to make the payment and if they aren't your primary FI, you can obviously just transfer funds in to the account in advance of the payment.

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All EVs get the $7500 rebate on a lease for now until Trump changes it. It's a $239k car, but I'm putting a good amount down because I'm buying it anyway. The residual is 46% so it's a horrible lease. 

W2 is very straight forward. I agree with your idea of just using Navy as my primary bank to so the deposits

[Creditplz]

Same, I have a EQS AMG that I use for carpool mainly here in CA, they passed the credit off the MSRP. 

also OP, as someone who has too many cars.... DO NOT DO THIS. Why would you ever want to buy a Taycan? They're leasing for $750/mo these days, they bricks when it comes to depreciation, if you dot believe me check out LH.... they're literally on lease specials for a reason, a closed end lease is the only option for these EV's... like I'd never buy a EQS for $165k they're $60k after a 12-18 months... 

[ItsPaulS]

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@Creditplz wrote:

Same, I have a EQS AMG that I use for carpool mainly here in CA, they passed the credit off the MSRP. 

also OP, as someone who has too many cars.... DO NOT DO THIS. Why would you ever want to buy a Taycan? They're leasing for $750/mo these days, they bricks when it comes to depreciation, if you dot believe me check out LH.... they're literally on lease specials for a reason, a closed end lease is the only option for these EV's... like I'd never buy a EQS for $165k they're $60k after a 12-18 months... 

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I have an RS E-Tron GT that I leased in 2022, MSRP $169k, it's worth $60k after3 years. If I bought the car, it would have come out the same. 

There are no Taycans for $750 a month unless it's a RWD, low end model, steep discounts (which I can get) , $10k down+ drives. They are no lease specials, just discounted inventory. 

PFS does not give specials on MF or increased RV, especially on 2025s. 1 year sitting inventory of 2024s, yes. 

This is a car I want to keep because I don't think Porsche will be bringing out these EVs for the US in the near future anymore.

I plan on keeping this car, even though I have 4 EVs, all leased for the reason you mentioned. They are like cell phone. Use them and Toss them. 

You can lease the new E-Tron GT because the MF comes out to 1.2% and the RV in the high 50% range. 

This Taycan has a 46% RV, .0035 MF (8.4%apr). It's the worst lease. 

It would be cheaper to buy it and sell it after 3 years for $100k. 

[Creditplz]

Yeah, as a Porsche owner myself I know the MF & RV sucks but they're there! Just look.. my broker has lots of loaded taycan for cheap anyways there was no refresh from 24 to 25..

2024 Porsche Taycan Turbo S NEW Loaded

• MSRP: $2XX,XXX
• Payment: $1699 + tax
• Term: 12 months / 15K annual mileage
• Drive-Off Amount: $6,000

i mean look; 

2023 Porsche Taycan Turbo CPO 

• MSRP: $1XX,XXX
• Payment: $899 + tax
• Term: 12 months / 15k annual mileage
• Drive-Off Amount: $5,500