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Discussion Starter · #1 ·
Hi,

This is my first time posting here after joining for almost 3 years. I currently have a leased 2018 Macan GTS that I am thinking of selling it before the lease end in November 2021. My GTS is the Volcano Grey with Red Leather interior and with only about 11900 miles. The major options are the Premium Package Plus, LCA, Heated Front and Rear Seats, Smoke Package, Sports Chrono Package and the 20" Premium Spider Wheels. My current paid off quote from PFS is about $51.5K and my residual is more or less about $50K. I just got appraisal from Carvana, Carmax and a Porsche dealer here in Southern California area. Carvana offers $54K through their instant online estimate; Carmax appraised it in person for $59K and the Porsche dealer in Irvine offers $62K through their online estimate tool. The Porsche dealer also confirmed the paid off amount with PFS which is $51.5K and they will cut two checks for the vehicle, one for the pay off amount to PFS and then one for the difference which should be about $11K to me. Is this the best time to sell the vehicle before my lease ends? Do you guys think the Porsche dealer offer is the best one since most people say Carmax and Carvana usually have the best offer than dealers on buying used vehicles?
 

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Hi,

This is my first time posting here after joining for almost 3 years. I currently have a leased 2018 Macan GTS that I am thinking of selling it before the lease end in November 2021. My GTS is the Volcano Grey with Red Leather interior and with only about 11900 miles. The major options are the Premium Package Plus, LCA, Heated Front and Rear Seats, Smoke Package, Sports Chrono Package and the 20" Premium Spider Wheels. My current paid off quote from PFS is about $51.5K and my residual is more or less about $50K. I just got appraisal from Carvana, Carmax and a Porsche dealer here in Southern California area. Carvana offers $54K through their instant online estimate; Carmax appraised it in person for $59K and the Porsche dealer in Irvine offers $62K through their online estimate tool. The Porsche dealer also confirmed the paid off amount with PFS which is $51.5K and they will cut two checks for the vehicle, one for the pay off amount to PFS and then one for the difference which should be about $11K to me. Is this the best time to sell the vehicle before my lease ends? Do you guys think the Porsche dealer offer is the best one since most people say Carmax and Carvana usually have the best offer than dealers on buying used vehicles?
This is a great time to buyout a lease especially on a low mileage desirable model due to an incredibly strong used market. Prior to selling make sure you factor in any sales tax that may be assessed on the lease purchase as in some states you have to pay it all over again. Also make sure you have an offer in writing. However odds are you are going to make a few bucks and may be one of the few times that it has been the case on a more “mainstream” car like the macan.
 

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The dealer will most likely not give the price quoted through their online estimate tool. They will give the car a full inspection and chip away at the price they offered online. The Porsche dealer in Irvine did that to me. I got offered better pricing elsewhere but decided to keep my 911.
 

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Is your lease through PFS or US Bank? A lot of manufacture's have prohibited sales to 3rd party companies like Caravans, vroom, etc. So you will have to deal with paying the sales tax. I suggest you check with PFS to see what they say.
 

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2018 Macan Turbo PP, 2013 911S manual, 1991 C4 Coupe
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Why sell and not keep the car yourself after the lease ends? Do you need another car to replace the Macan? Assuming you still want to sell, is your question whether you should time the market because you think you will get a higher price now than in a few months?
 

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Hmm

usually on a lease you have to bring the car to a dealer and pay the lease return inspection fee, and they evaluate the car and charge you for damage. Then the dealer gets a chance to buy the car from the lease company. Or you can tell the lease company your going to puchase the car for the contracted residual value, which you say is $50K. But you left money on the table by not driving the agreed upon say 36K miles and only drove 12.5K miles just passing the first service interval.

Sounds like Carvanna wants the car, and so does Irvine Porsche which is Auto Nation. And there willing to work with you on paying the residual for a chance to get a prime 2018 Macan GTS that they can flip for $68K to $73K.

I think what the one post was saying is that you would be on the hook for CA Sales tax on the residual value which is $3875 at 7.75% because you have to buy the car first, and then resell it and you probably don’t have a resale permit with the state board of equalization. You can apply for one online and get approval in one day.

ok, if you like the car, it’s a chance for you to buy one at really great price. or I see $6k to $8K of profit with no out of pocket expenses and a possible additional tax liability for you as this may be income.

I just do this for practice, sort of my business training. I’m not an expert, nor an accountant. It’s just an exercise for me.
 

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The biggest question is what do you plan to do after? Are you going to replace it immediately with something else? The one thing that you absolutely should not do is just drop it off at the end of the lease. So either sell it or keep it.

The used car market is very strong right now, which won’t last forever, but probably won’t make a major shift in 2 months either. But you know what you can get for it now.
 

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Discussion Starter · #11 ·
The dealer will most likely not give the price quoted through their online estimate tool. They will give the car a full inspection and chip away at the price they offered online. The Porsche dealer in Irvine did that to me. I got offered better pricing elsewhere but decided to keep my 911.
When did you get your quote at Porsche Irvine? Porsche Irvine never bother to do an in person estimate with though I was there with my GTS. I proceed to Porsche Newport Beach and they did an in-person estimate on the spot and they said they will offer the same $62K as Irvine since they are sisters store under AutoNation and they found nothing or defect that can reduces the offer. They did check with Porsche Financial Service to confirm my current payoff amount which is $51.5K.
 

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Discussion Starter · #12 ·
Is your lease through PFS or US Bank? A lot of manufacture's have prohibited sales to 3rd party companies like Caravans, vroom, etc. So you will have to deal with paying the sales tax. I suggest you check with PFS to see what they say.
I lease through Porsche Financial Services when I got the car at Porsche Beverly Hills back in December 2018. I know the current payoff amount is $51.5K when I clicked on the get current payoff amount button on PFS website under my account. Does that means I will have to pay sales tax on top of the $51.5K or $50K at the end of the lease if I decent to buy it?
 

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Discussion Starter · #13 ·
Why sell and not keep the car yourself after the lease ends? Do you need another car to replace the Macan? Assuming you still want to sell, is your question whether you should time the market because you think you will get a higher price now than in a few months?
We are a family of 4 with 2 teenagers and we do have 2 other vehicles we use as our daily driver. My wife and I both feel the GTS is smaller than we like especially the backseat. It is definitely a fun and exciting car and it is our weekend car hence the low mileage. We are concern about the cost of maintenance after the factory warranty expires. With current hot new and used car market, we are thinking right now is a good time to sell and we will most likely getting some money back in our pocket while we are sort of ahead.
 

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Discussion Starter · #14 ·
The biggest question is what do you plan to do after? Are you going to replace it immediately with something else? The one thing that you absolutely should not do is just drop it off at the end of the lease. So either sell it or keep it.

The used car market is very strong right now, which won’t last forever, but probably won’t make a major shift in 2 months either. But you know what you can get for it now.
We will most likely hold off on getting another vehicle either in purchase or lease until the market improve which most likely won't be until 2nd half of 2022 or later. We do have 2 other vehicles with one being a Toyota Sienna minivan that we use as our daily driver so we are okay after we sell the GTS.
 

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We will most likely hold off on getting another vehicle either in purchase or lease until the market improve which most likely won't be until 2nd half of 2022 or later. We do have 2 other vehicles with one being a Toyota Sienna minivan that we use as our daily driver so we are okay after we sell the GTS.
If you don’t need to replace it, seems like a great time to sell as long as the sales tax implications won’t wipe out your profits. I live in Oregon, so we don’t think about sales tax, but it looks like the short answer is you have 10 days to sell from the time you get the title without paying any, but finding a dealer who will work with that may be tricky. California sales tax on lease end buyout - be educated!

if you really will be okay driving a sienna instead of a Porsche for a year, seems like a great time to sell. I used to work in leasing for gm, and no one was ever in a position to make anything at the end of a lease. With my last lease, a bmw 3 series, I ended up keeping it at the end due to a change in work and worked with the dealer to buy for less than residual as it was mutually beneficial. So take advantage of being in a good spot on this one.
 

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Seems like a good arbitrage opportunity to me as long as you aren't looking to get into another car. Obviously the inflated prices are not just for your GTS, but across the board. So if you are going down to 2 cars and staying that way, I would flip it. If you are going to roll that into something else, then buying out at the end and keeping might not be the worst idea.
 

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The Sienna won't offer you as much fun ;) That's a gorgeous vehicle! Like many have said, if you are selling a car, the market is on fire. I sold my 2019 leased Ford back to Ford and was cut a very nice check before getting my 2021 GTS about 2 months ago. Curious what the other car is? The real question is do you want to take the money and run or keep the GTS.
 

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Hi Agramawoo,

I hope you are enjoying your Macan. I’ve been lurking on the forum for a bit and stumbled on your post as we are looking into getting a Macan GTS. I know you are on the fence about potentially getting rid of your Macan and I’ve been looking at this color combo for several months now. Before you trade it in would you be open to selling it privately to an enthusiast?
No pressure if you plan on keeping it but wanted to have a conversation if that was your plan. Beautiful car nevertheless.

James
 

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Discussion Starter · #19 ·
Hi Agramawoo,

I hope you are enjoying your Macan. I’ve been lurking on the forum for a bit and stumbled on your post as we are looking into getting a Macan GTS. I know you are on the fence about potentially getting rid of your Macan and I’ve been looking at this color combo for several months now. Before you trade it in would you be open to selling it privately to an enthusiast?
No pressure if you plan on keeping it but wanted to have a conversation if that was your plan. Beautiful car nevertheless.

James
Hi James,

Thank you for the compliment. Since my GTS is still being leased through Porsche Financial Services, I prefer to trade it in to a Porsche dealer since they know how to take care all the paperwork related to a lease Porsche vehicle. I will have no problem selling it to another enthusiast if I own the vehicle.

Thank you,

David
 

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Discussion Starter · #20 ·
Hi Agramawoo,

I hope you are enjoying your Macan. I’ve been lurking on the forum for a bit and stumbled on your post as we are looking into getting a Macan GTS. I know you are on the fence about potentially getting rid of your Macan and I’ve been looking at this color combo for several months now. Before you trade it in would you be open to selling it privately to an enthusiast?
No pressure if you plan on keeping it but wanted to have a conversation if that was your plan. Beautiful car nevertheless.

James
Hi James,

Thank you for the compliment. Since my GTS is still being leased through Porsche Financial Services, I prefer to trade it in to a Porsche dealer since they know how to take care all the paperwork related to a lease Porsche vehicle. I will have no problem selling it to another enthusiast if I own the vehicle.

Thank you,

David
 
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