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Old 20.03.2017, 22:59
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Car lease - flexibility

Hi All,

I plan to take Porsche Cayman on lease, cost is ~70k, with 10% initial payment - it is not the new one, ~10kkm (in Porsche). I think about 2-4 years lease. Since I don't know how long I will stay in Switzerland, I wanted to ask which option I should choose if I would be leaving in one year or 18 months?

I don't know how to calculate it, but maybe there is someone who could come up with some estimates. Monthly payment ~1300CHF (24m) or 950CHF (48m). Residual value ~36.000CHF (24m) or 26.000CHF (48m).

Thanks for help!
FourRings
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Old 20.03.2017, 23:05
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Re: Car lease - flexibility

With a lease you sign a contract for a fixed period, you break it, or go over the km agreed, you'll get fleeced.
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Old 20.03.2017, 23:07
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Re: Car lease - flexibility

I know I will have to pay for that - but the question is how much? If that is 4k, or 8k for example?

Cheers!
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Old 20.03.2017, 23:17
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Re: Car lease - flexibility

If you have to ask how much probably you shouldn't really be buying a porsche. You'll get ripped off either way in the end. Luxury car - luxury costs. With today's interests rates, if you can't afford to pay it in cash, better don't take it at all.
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Old 20.03.2017, 23:36
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Re: Car lease - flexibility

Thanks for reply. I know what you mean - but it is not the case that I won't be able to pay it - I just want to pay less
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Old 20.03.2017, 23:57
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Re: Car lease - flexibility

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but it is not the case that I won't be able to pay it - I just want to pay less
And yet you want to buy a Porsche?
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Old 21.03.2017, 00:02
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Re: Car lease - flexibility

Of course I don't see anything wrong in paying less. If someone wants to pay more for me it's fine.

I didn't come here to ask if my choice is the good one to go for Porsche - if you want divide all numbers by two (except years) and take some volvo as an example so you no longer focus on Porsche...
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Old 21.03.2017, 00:03
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Re: Car lease - flexibility

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Thanks for reply. I know what you mean - but it is not the case that I won't be able to pay it - I just want to pay less
Well that's not going to happen is it !

Buy a Dacia maybe
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Old 21.03.2017, 00:11
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Re: Car lease - flexibility

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I just want to pay less
Take a normal consumer credit, not leasing. Much more flexible - it's just cash, can be usually repaid early without any problems. You won't ever have to argue with anyone about depreciation loss - it's all yours. You can write interest off your taxes, potentially saving up to 30-40% in interest. And you're not forced to take ridiculously expensive vollkasko if you don't need it.

Cheapest interest would be about 5%. Not with banks of course, they'll want all 10%, the maximum allowed by law, seeing that you just arrived here, but there are probably enough idiots on various trending crowdfunding sites who'd be happy to finance you at 5%

Last edited by ivank; 21.03.2017 at 00:41.
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Old 21.03.2017, 00:13
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Re: Car lease - flexibility

I assume that you can't answer my question...

Unfortunately society is judging easily without even knowing facts. If someone wants to pay less, then you assume he cannot afford to buy Porsche - that I am implying from your posts.

But how naive it is? What are you going to say about people who drive to Konstantz in their luxury cars for shopping (they are going there to pay less)?

Really, with that attitude, good luck!
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Old 21.03.2017, 00:15
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Re: Car lease - flexibility

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Take a normal consumer credit, not leasing. Much more flexible - it's just cash; you can write interest off your taxes, potentially saving up to 30-40% in interest; and you're not forced to take ridiculously expensive vollkasko.

Cheapest interest would be about 5%. Not with banks of course, they'll want all 10%, the maximum allowed by law, seeing that you just arrived here, but there are probably enough idiots on various trending crowdfunding sites who'd be happy to finance you at 5%
Thank you for answer - I will consider this option, seems to be the good one
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Old 21.03.2017, 03:07
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Re: Car lease - flexibility

I agree with Ivank, pay cash if possible, any way you can, you can also haggle a price.

The leasing contracts keep you in a fixed period, with penalties if you,
1. give it back early,
2. drive it too many kilometers,
3. have small scratches.

They have to make their profits, and often the residual price, at end of the lease, is much too low.
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Old 21.03.2017, 04:14
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Re: Car lease - flexibility

I had a lease with Mercedes Leasing company, i had a 4 year lease and returned the car after 2,5 years, all it cost me was 3500, no problems selling it, no being rip off by a dealer, if you cannot find a private buyer, It will always cost you money to have a car, if you lease make sure you understand the contract well.
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Old 21.03.2017, 08:59
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Re: Car lease - flexibility

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Cheapest interest would be about 5%. Not with banks of course, they'll want all 10%, the maximum allowed by law, seeing that you just arrived here, but there are probably enough idiots on various trending crowdfunding sites who'd be happy to finance you at 5%

The maximum as written into the constitution, therefore is the law, is 15%
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Old 21.03.2017, 09:06
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Re: Car lease - flexibility

A lease can be end in 2 ways - termination or settlement.

In your case termination will make the most sense as this where you simply hand back the car. HOWEVER as with everything there is no such thing as a free lunch - so be prepared for the car to be scrutinized for even the smallest amount of damage.

Prior to handing the car back the lease company will provide a settlement figure - which is complex calculation based on what they say the % depreciation will be to that point - and an account balance of interest with a termination penalty.

Ultimately if you are looking to leave a lease after 12mths - you'll want a 12mth lease - after 18mths - then an 18mth lease.

I'd suggest that leasing is not the answer to your automotive financing question.
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Old 21.03.2017, 09:12
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Re: Car lease - flexibility

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The maximum as written into the constitution, therefore is the law, is 15%
It's been reduced recently to 13% in light of the low interest rates. That's what you'll pay on pretty much all credit cards now.

For product differentiation vs the credit cards, consumer loans generally seem to be topping out at 10%, with 7.9% being pretty standard. AFAIK Migros still offer the cheapest at 5.9%.
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Old 21.03.2017, 09:47
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Re: Car lease - flexibility

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It's been reduced recently to 13% in light of the low interest rates. That's what you'll pay on pretty much all credit cards now.

For product differentiation vs the credit cards, consumer loans generally seem to be topping out at 10%, with 7.9% being pretty standard. AFAIK Migros still offer the cheapest at 5.9%.
We're not talking about what you pay but what is the maximum interet rate allowed by law which is 15% as written in the constitution.

Whether anybody charges this today and even more to the point, would anybody pay it, is a very different question !
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Old 21.03.2017, 09:55
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Re: Car lease - flexibility

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We're not talking about what you pay but what is the maximum interet rate allowed by law which is 15% as written in the constitution.

Whether anybody charges this today and even more to the point, would anybody pay it, is a very different question !
The maximum allowed by law has been reduced to 12% since July 2016. Seems that there is also now differentiation legally between loans and overdrafts/credit cards rather than it being a commercial decision.

http://Www.blumgrob.ch/en/reduction-...nsumer-credits
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Old 21.03.2017, 10:33
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Re: Car lease - flexibility

Since you need flexibility leasing looks like a poor choice. With leasing two agents want their cut, which means it's usually more expensive than a normal purchase.

With leasing your insurance will have to cover your own car, it's called "Vollkasko". This comes with increased costs, probably in particular for you foreigner. If without leasing you would not have that type of insurance (Kasko would be the typical alternative) leasing costs increase further. Some leasing contracts dictate the insurance company, which probably increases your costs even more because the insurance has to pay for the favor and have you finance that as well.

Buy cash instead.

If you need credit, as has been mentioned Migrosbank seems to be the least expensive with 5.9% interest currently if you apply online, but their conditions and requirements are probably also the most restrictive.

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It's been reduced recently to 13% in light of the low interest rates. That's what you'll pay on pretty much all credit cards now.
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We're not talking about what you pay but what is the maximum interet rate allowed by law which is 15% as written in the constitution.
Since July 2016 the legal limit is 10% for cash credit and 12% for overdraw (e.g. credit cards). The limit is set by Verordnung (executive order?) by the Bundesrat, it's not part of the constitution.
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Old 21.03.2017, 10:46
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Re: Car lease - flexibility

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Since you need flexibility leasing looks like a poor choice. With leasing two agents want their cut, which means it's usually more expensive than a normal purchase.

With leasing your insurance will have to cover your own car, it's called "Vollkasko". This comes with increased costs, probably in particular for you foreigner. If without leasing you would not have that type of insurance (Kasko would be the typical alternative) leasing costs increase further. Some leasing contracts dictate the insurance company, which probably increases your costs even more because the insurance has to pay for the favor and have you finance that as well.

Buy cash instead.

If you need credit, as has been mentioned Migrosbank seems to be the least expensive with 5.9% interest currently if you apply online, but their conditions and requirements are probably also the most restrictive.



Since July 2016 the legal limit is 10% for cash credit and 12% for overdraw (e.g. credit cards). The limit is set by Verordnung (executive order?) by the Bundesrat, it's not part of the constitution.
To my recollection, which maybe hazy as it was a long time ago, their was a referendum/vote on this, therefore it should be in the constitution.

I am quite happy to be corrected on this as indeed i am not 100% sure
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