Automobile

$20k Lets You Lease 3 Iconic Modern and Classic Porsches | MotorBiscuit

Even luxury vehicles can become more accessible through car lease programs. Not only can this make owning one more affordable, but it also lets you swap out for the latest model. But what if you wanted to experience something older? Or perhaps more exclusive? Well, that’s one Connecticut-based company wants to do with its new Porsche lease program.

Putnam Leasing has a new Porsche lease program—and it will cost you

Besides offering leases, Porsche already has its own dedicated rental service. And while the selection doesn’t include the electric Taycan, practically every other current Porsche is available. However, that last part is the key here: Porsche only leases and rents out modern models.

That’s where Putnam Leasing is trying to step in, Car and Driver explains. It’s a private loan company that specializes in financing exotic and vintage vehicles, ClassicCars.com reports. And these leases, whether for a Porsche, an Audi R8, or any other high-end car, work the same way as the average lease. Namely, after putting down a down payment based on the car’s value, customers then make monthly payments towards a pre-determined purchase price.

Naturally, leasing an exotic, whether new or classic, is quite a bit more expensive than leasing, say, an Accord. A 60-month lease on a Pagani Huayra BC, for example, carries a $25,339 monthly payment, Car and Driver reports. And that’s with a $700,000 down payment.

Putnam Leasing’s new ‘Ultimate Porsche Trio’ lease program is a little cheaper, but not by much, RennList reports. Potential customers have to put in a $422,000 down payment. And even with that, the monthly payment is $19,994.

But considering what vehicles are part of the program, that might be worth it.

This Porsche lease includes two desirable classics and a 918 Spyder supercar

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Let’s start with the oldest Porsche in the lease program. It’s a 1958 356 Speedster, part of the first generation of official Porsche Speedsters, Automobile explains. With a 60-hp rear-mounted 1.6-liter flat-four, it’s not exactly fast by modern standards, Hemmings reports. And even in 1600S trim, it only has 75 hp.

However, the 356 Speedster’s stripped-down design means it’s extremely light, even for its day. Driving one repeatedly conjures up words like ‘pure’ and ‘raw,’ MotorTrend reports, which it certainly is. Not to mention expensive—an original 356 Speedster typically goes for $200,000-$400,000 on Bring a Trailer.

1973 Porsche 911 Carrera 2.7 RS rear 3/4 | Porsche

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As valuable as a 1958 356 Speedster is, the next Porsche in Putnam’s lease program is even more so. It’s a 1973 Porsche 911 Carrera 2.7 RS, the spiritual ancestor to the 911 GT3 cars, Road & Track explains. Porsche built it as a racing homologation special, R&T reports, and it has plenty of upgrades over the standard road car.

The 1973 Porsche 911 Carrera 2.7 RS, as its name implies, has a 210-hp 2.7-liter air-cooled flat-six engine, Motor1 reports. And besides the bigger engine, Porsche also gave it wider and larger wheels, its signature ‘ducktail’ spoiler, and a new aerodynamic front end, MT reports. The 2.7 RS is also significantly lighter than the contemporary 911, especially in Lightweight spec.

All these ingredients make what many consider to be “the pinnacle of classic 911s,” R&T reports, with a price to match. One Lightweight model sold at a 2018 RM Sotheby’s auction for $1,022,500.

A low-angle rear 3/4 view of a silver 2015 Porsche 918 Spyder on a sandy beach
2015 Porsche 918 Spyder rear 3/4 | Porsche

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The final Porsche in Putnam’s lease program isn’t a vintage model. It’s a 2015 918 Spyder, a genuine hybrid supercar. Its two electric motors and 4.6-liter V8 make a combined 887 hp and give the 918 Spyder AWD. As a result, the supercar goes 0-60 mph in 2.2 seconds, Car and Driver reports. R&T arguably summed up the driving experience best: “the 918 makes you feel like a superhero.” As it should, given that it stickered for $845k, Automobile reports.

Do other companies over classic car leases?

Admittedly, Putnam Leasing is letting customers lease these Porsches individually. And despite these seemingly high prices, the company claims most customers buy their cars at the end of their leases, Car and Driver reports. But for those whose budgets don’t quite run that high, are other classic vehicles lease-able?

RELATED: Why a ‘One-Pay Lease’ Could Be The Best Way to Buy a New Car

Actually, yes. There are private companies that offer financing and leasing options for classic cars, Hagerty reports. And depending on the specific vehicle you’re looking at, leasing may be more beneficial than financing it, Barrons reports. Especially if you’re not sure if you’re ready for classic car ownership.

Let’s hope whoever leases that Porsche 911 Carrera 2.7 RS exercises it regularly, though.

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