- Putnam Leasing is offering a trio of Porsches in a lease deal that includes some highly revered models from the 1950s, 1970s, and 2010s.
- The leasing company is located in one of America’s richest per-capita areas: Greenwich, Connecticut.
- Why not just buy these cars? Two words: sales tax.
Putnam Leasing, a private loan company in Connecticut’s Fairfield County, bankrolls the new exotics and vintage icons that original manufacturers won’t finance. So, instead of forking over nearly a million for a Porsche 918 Spyder—and paying sales tax, unlike lots of rich car collectors who “live” in Montana—Putnam will lease one for $7925 per month for 60 months and $175,000 down. If that sounds just as expensive as buying a 918 outright, that’s because it is.
But think about it. At car meets, Porsches are like potting soil. They’re such an essential base to any sports car enthusiast’s garage that resale values continue to climb year after year—to the point where dirt-cheap throwaway 911s from the ’70s are now quarter-million-dollar investments. Suppose you’ve got play money and don’t know which classic models will get the most attention at the next Cars and Coffee. How about hedging your bets by getting three, on a lease?
Compare this extreme lease to the average person’s car loan. Even if you can afford to buy something outright, it’s often smarter to make partial payments at low interest and invest the remainder elsewhere. Say you’d only like the 918 for a year. Putnam will make that happen—and you’ll pay a fraction of the tax and total cost of ownership. With a Democratic-controlled Congress eager to overturn the previous administration’s tax cuts, there may be no better time to add one or three of these cars as a monthly expense.
The dream lease also includes a 1958 356 Speedster ($3750/month and $67,000 down) and a 1973 911 2.7 RS ($5869/month and $110,000 down). Putnam says many of its customers buy the cars outright once their leases end, but the whole point of a lease is being noncommittal. All told with sales and property taxes, you’ll be easily spending 20 grand a month for three used cars after plopping down more than $350K at signing. To some wealthy car nut who’s fallen behind on the collector scene, this have-it-all lease might be like Mom making catch-up contributions to her IRA. No one wants to be left behind.
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