Porsche will no longer have a leasing model, but will instead be offering finance deals in its upcoming 2018 models.
The company will be offering up to $100,000 for a $20,000 down payment, $25,000 per month, and a monthly payment of $25 million to $30 million for a lease for its 2018 model range.
That is about twice the cost of the leasing model currently offered in the US.
The financing is similar to that offered by Citibank, but in the Porsche leasing model it will not have to worry about a bank that wants to take a haircut.
This is the first time that Porsche has made such a move, although it has not released the details.
The news is being announced alongside a new ad campaign that will feature a new Porsche 911.
The new ad will be broadcast on Porsche’s official YouTube channel and will air on NBC in the coming weeks.
Porsche is offering finance with a down payment of about $60,000 and monthly payments of $1 million.
The 2019 Porsche 919 Hybrid and the 2019 Porsche Cayenne will have a lease that offers up to a $25-million down payment and monthly payment up to the $60-million amount.
Porsche’s 2019 911 Hybrid has a monthly installment of $60 million and a lease option that includes an option to buy the car outright at a discounted price.
The leasing model will have the Porsche 911 Hybrid lease offer up to approximately $50,000 annually.
Porsche has been offering finance for a decade, with the last two leasing models having been announced.
The finance option in the new leasing model is similar in scope to Citibanks own leasing option, where a customer can take a 10-year mortgage to finance the purchase of a car at a cost of $100 million.
Porsche will continue to offer a lease as a feature of its 2017 911 Hybrid.
Porsche had previously announced that the 2019 919 hybrid would be available in Europe.