Benefits of leasing a Viper???

[MikeDGTS]

I am currently leasing my Viper and wondering how many others are doing the same? I can drive it as far and hard as I want b/c I know I will just give it back one day anyways. The only drawback I see is limitations to the mods I can do. Will the service techs even notice the Hennessey Exhaust/Intake? I am planning on a 3.54 gear as well. How far can I go without being penalized? My opinion is that I love to drive the car, but I know a Viper with 60,000 miles will have many problems and not get much money when I sell it. Any thoughts?

 

[KenH]

I lease mine. I plan on buying out the lease at some point, so I am not worrying about mods affecting the lease end. My dealer has already told me they will honor the warranty with mods unless the part that fails is an aftermarket part or is obviously the cause of failure. I went this route because I could get into a brand new Viper with a 7 year warranty for about the same monthly outgo as outright purchasing a used Viper with a questionable history and little or no warranty.


--- Ken
'01 GTS

 

[grayman]

Leasing *****. You would come out much better to purchase a slightly used viper with low miles and still under factory warranty. Buy the extended if worried about it. Let the previous owner take the initial depreciation fall and you wont get hit on taxes as bad either. Many leases have little hidden costs, such as mileage fees over a certain limit, or the big kicker that is not advertised , paying taxes again at end of lease purchase. All in all, you are much better to buy slightly used yet still under warranty.

 

[luc]

Grayman,

If you have a businness and are in a 50% tax bracket,you will,or should know that leasing is better money wise.

Compared to a cash or a credit payement,where you have to depreciate the value of the vehicle for many years, leasing is a straight expense.

Also, beside the fact as an expense,you paid it with your after tax $ compared to your before tax $,the other raison is that you can paid a very HIGH monthly leasing fee,( usually by increasing the yearly mileage allowance) to have a very LOW residual value.


At the end of the lease you can buy the vehicle for yourself at this vey low residual value/price.

Luc.00GTS

 

[Vreracing]

The only advantage I saw was that in Texas you could deduct the cost of the lease if its a business deduction. The only problem is you have to pay property tax at the end of the year, which is like a second payment. The Porsche lease program was pretty much like a loan. You had a payoff balance at any given time. I never kept my cars to the end of their leases. I had little trouble with Porsche breaking the leases. I think Ford made it difficult at one time. The value at the end of the lease is usually quite a bit lower than the true value of the car. This protects the leasing company. If I would have kept the Porsche TT to the lease end, which would have been about now, the lease value was 41K and the car would have been worth closer to 50K. (It presently has 65K miles on it. My brother still drives it)

Bottom line, I don't think there is enough of an advantage to warrant leasing. Talk to your Accountant first.

My opinion.