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Porsche Boxster Lease Questions

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Porsche Boxster. Thanks.

Car_man
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  • I'm interested in leasing an S and would like some insight. Located in S. FL
  • Hi jkenyan. It sounds as though you may be new to leasing. If that is the case, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    When negotiating leases, it is important to remember two things: the selling prices of leased vehicles are negotiable and that dealers can mark-up banks' lease money factors to add additional back-end profit to deals. Negotiate as low a selling price as possible on the Boxster that you want, just as if you were paying cash for or leasing it. Then have the dealer that you are working with calculate a lease payment on it using Porsche Credit's buy rate lease money factor. If you let me know how long you want to lease this car for and how many miles per year you need to be able to drive it, I will be happy to give you an idea of what its current lease program is like. If you provide me with its full MSRP (with the destination charge added in) and an approximate selling price, I can work up an approximate lease payment for you as well.

    Car_man
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  • 48 mo. lease (want stay within the warranty period) 10K miles/year.

    Would you mind estimating a base Boxter, (MSRP-$43,800), (Invoice-$38,172) less destination chgs and the S (MSRP-$53,100), (Invoice-46,314) less destination chgs.

    A salesman told me today that you can figure about $28/mo. per $1000 of options. True? I have not negotiated selling prices, yet.

    Thanks, John
  • kyfdxkyfdx Posts: 28,434
    Car_man will be able to answer your specific questions about the lease itself...

    But, for every $1000 increase in MSRP, the payment should only go up by $12-$15 per month...

    Divide the lease payment by the MSRP, and you'll get a good rule of thumb.. For example, if a $50K car has a lease payment of $700/mo., then the same car with a $51K MSRP, should have a payment of around $714/mo..

    $28/mo.? That is the increase if your selling price goes up by $1000 on the exact same car..

    regards,
    kyfdx
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  • OK. Today I was quoted on a Boxster w/Tip and some other options. Price was approx. 50K. Dealer expected the 48 mo. lease, w/5k capitol cost reduction, 10K miles/yr. 5% sales tax. Estimated lease payment $607/mo. Still seems high, because another dealer is advertising an 06' base, 5 speed, no options, same terms as above except 4K CCR, at $489/mo. Thoughts? Cause I am confused.
  • Thanks for the additional information, John. I need you to provide me with this car's prices including the destination charge in order to calculate an accurate lease payment for you. I notice that your most recent quote includes a $5,000 capitalized cost reduction. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Boxster would be exactly the same, regardless of whether you had put $5,000 down, or had made absolutely no down payment at all.

    Car_man
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  • Hi CarMan: Do you have any reliable info on money factor and residual percentages for the 2005 and 2006 Boxsters? I know how to calculate the lease, just want to see what you feel is out there right now. I've had dealers try to mark up the money factor on me in the past. I'm looking at ordering one in a month or two (probably 2006 model) for Feb or March delivery. I know that there's no way that I can predict what rates will be at that time, but just want to get a feel for how porsche handles their lease rates. I'm assuming that I cannot "lock-in" any rates prior to accepting delivery of the vehicle. Is that accurate? Thanks! Cheers!
  • Excellent user id, martini4me :shades:. Yes, I have seen Porsche Credit's current lease program for the 2005 and 2006 Boxster. As usual, Porsche is not providing any sort of money factor support on this car. As a result, if you were to lease one through Porsche Credit right now you would have to use its standard lease money factors. Its buy rate standard money factor for a 36 month lease is .00270 through the end of October. It is difficult to say what its money factors will be like after that date. I am not sure if Porsche allows consumers who order vehicles to lock in their lease program at the time that the order was placed. I am sure that your dealer will know the answer to this question.

    Car_man
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  • Hi,

    I have a question regarding leasing as well. I am looking to purchase a 05 Boxster due to the fact that the dealers in my area are offering $5,000 off msrp. I am planning to negotiate even more, perhaps $6-7000 off and would like to know how much my month leasing payment would be. The msrp of the car including destination charge is about $49,500, so with the discount, let's say $6000 off would be $43,500. I am planning to put no down, do a 3yr and 12k miles/yr lease, and my sales tax is 8.25%. If you can help me come up with some figure on how much it will cost me, that would be greatly appreciated. I have always pay cash for my cars and this is the first time I am considering leasing. Thanks!!
  • Hi davezaristo. I would be happy to give you an idea of what your lease payment should be like on the car that you are interested in right now. If you were to lease a 2005 Porsche Boxster (not the S model and without Tiptronic) with an MSRP of $49,500 and a selling price of $43,500 through Porsche Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $656.

    By the way, since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Car_man
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  • Thanks for your help. Besides msrp, is there anything else I should negotiate? Money factor, residual value, etc.?? I know it is different across different car makers (most are set and not negotiable i heard ), but I am not too familiar on how porsche works so i thought i may ask.

    Also, what is your view on lump sum lease? My credit card is providing me a great rate of 1.99%APR for the lifetime of the loan and I was thinking about taking advantage of that. Will I still be able to write off those lease payments for tax purposes? On a lump sum or monthly basis? (I know i may need to ask my accountant but thought that you may know so i'll just ask here)

    Finally, does zero down means all DMV fees and doc fees are built into the lease payments already?

    I am asking alot of questions, but I am unable to find the answers in ordinary leasing guidelines so i hope that you can shed some light. Again, thank you so much for your help!!
  • Hey Car Man: Thanks for the money factor info for 36 month lease. Do you also have info on residual % and money factor for 48 month lease in the 2005/2006 Boxster. I plan to get a tiptronic and will probably lease for 48 months / 12000mis/yr, since the car should be under warranty for the full leasing period. Thanks for the info...sorry to be a pest!! Cheers!
  • do you know anything about Porsche Options financing?....looks like it's $100 cheaper per month than a lease, but with a balloon payment (their website indicates that balloon payment only due if car not returned to dealer). Maybe residuals are different? I'll ask a dealer for info too, but wanted to see if you had any words of wisdom. Many thanks!
  • Local dealer is offering invoice pricing on all remaining '05 Boxsters in stock. The one I am looking at has a $53,795 (including freight) MSRP. They will sell it for $46,998.

    Assuming a 3 year, no money down, no cap cost reduction, 10,000 miles per year lease, what is your best guess as to monthly lease payments.

    Thanks
  • You're welcome davezaristo. Besides making sure that you are getting an attractive selling price on your car, the other main negotiable item that you need to pay attention to is the money factor that is used to calculate its monthly lease payment. This item is only quasi negotiable though because dealers cannot lease vehicles using lower money factors than banks allow them to, but they can mark-up banks' buy rate money factors to add additional back-end profit to deals. Find out the buy rate money factor for the car that you are interested in and make sure that it is being used to calculate the lease payment that you are quoted. Vehicles' residual values are never negotiable so you don't have to worry about that aspect of your deal.

    Advance Pay or One Pay leases can be a good way to get a new vehicle, IF the discount in the money factor that is used to calculate the interest portion of your lump sum payment is attractive enough and if you have the liquid assets to make all of your vehicle's payments at one time. I'm not an accountant, so I really cannot comment on the tax implications of a single payment lease.

    When I say zero down, I mean zero capitalized cost reduction. Even consumers who opt not to make a cap cost reduction have to pay money at lease signing. At lease signing lessees usually have to pay their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, the acquisition fee that the bank that they are leasing through charges, and any required state taxes or fees. Many banks will waive their security deposit requirement in exchange for a slight increase in the money factor that is used to calculate a vehicle's lease payment. Also, lessees can usually roll the acquisition fee and any state taxes or fees into their vehicle's capitalized cost and finance them in their lease if they want to. So, you should be able to drive away in a leased vehicle only paying your first payment if you want to.

    Car_man
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  • No problem martini4me. If you were to lease a 2005 Porsche Boxster with Tiptronic through Porsche Credit right now for 48 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00280 and 42%, respectively. The money factor for an otherwise identical lease of a 2006 Boxster with Tiptronic would be the same, but the residual value would be 47%.

    Car_man
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  • Martini4me, given the fact that balloon notes are much less popular than leases, I do not personally keep tabs on the details of manufacturers' balloon note programs. Sorry.

    Car_man
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  • Hi jerseyguy1. According to my calculations, if you were to lease a 2005 Porsche Boxster (non-S model) without Tiptronic with an MSRP of $53,795 and a selling price of $46,998 through Porsche Credit right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment should be around $691.

    Car_man
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  • Car Man:

    Many thanks. Lease price is better than what the dealer 'guesstimated.' Now if I can get him to dealer trade for another car about 85 miles away and do the deal at $691 plus tax I might be getting myself an early Xmas gift.
  • I am in the market for a newer/used 2005 Boxster (base). I've started hunting around and have a decent idea of values, etc. I do have a couple questions that I have not found answers to in previous posts:

    1) Are there any dealer/manufacturer incentives going on right now or expected in the next couple months?

    2) What are current residuals and money factors being used for 36 mo leases with 10-12K mi/yr?

    Thanks for your help.
  • hayliehaylie Posts: 1
    Jerseyguy1, I am also looking for a new Boxster - would you share what dealer is selling at invoice on remaining 05's ?

    thanks
  • Haylie:

    Dealer is Concours Motors in Milwaukee, Wisconsin.
  • Just a follow-up...

    I got a quote on a used 05 Boxster w/ 2000 mi & minimal options at roughly $44K. The lease options they offered were for 36 mos, 12K mi/yr. Residual @ 55% and money factor @ 0.0029ish. Total w/ Chicago taxes - $950/mo.

    This just seems rediculous. They might be able to budge on the price to $42K, but we're still talking about a payment in the $900 range. Way out of my ballpark estimate. What's going on here? Thanks.
  • Sorry to post here but I did not see a 911 leasing area. So, hopefully someone can help or point me in the right area. I am looking at a 2006 911 Carrera non S and was wondering if someone has the Money Factor and Residuals for both a 36 and 48 month lease with 12,000 miles. Thanks in advance for any help. kjw
  • Hi,
    I know this is broad, but I'd like to compare and contrast these options for an'03 Boxster. I'm enamored with assuming a lease, but have difficulty deciding if it's a good deal, give the residual price is a few years off. Suggestions?

    Buying at auction makes sense, where do I find a broker for that process (Bay Area)? Advantages/disadvantages?

    Is eBay a crap shoot?

    How many questions do I get in one post??
    Thx,
    Powder Animal
  • Hello all! I'm going to take delivery on a 2006 Boxster in a few days and would like to confirm the existing residuals and money factors for leasing in New Jersey. The MSRP of the car is 48,290.

    When I ordered the car a few months ago, the quote was $2500 off MSRP and lease payments of about 675 for 42 months (including tax) with just inceptions down. I believe the leasing company was Wells Fargo.

    Anyone have any info on residuals, money factors, incentives, lease payment, etc. that will help me make sure I'm getting a good deal?

    Thanks in advance.
  • No problem jerseyguy1. You must have been a good boy this year to get such a cool Christmas gift. I think that I'm only getting a lump of coal again :D .

    Car_man
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  • Hey soupstar. Unfortunately, Porsche hates to provide incentives on its products. It feels as though incentives only serve to hurt residual values / resale values and destroy brand image. They're right too. Porsche would rather cut production than provide incentives on its products. Having said this, occasionally at the end of the model year Porsche will give its dealers cash incentives to roll their leftover models into demo fleets for test drives and loaner cars. The dealers that take advantage of these offers often turn around and sell the demo vehicles right away. Having said this, I am not aware of any such offers, or any other incentives on the Boxster for that matter, at this time. I don't expect any to be introduced in the next couple of months either.

    If you were to lease a 2006 Porsche Boxster through Porsche Credit right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00280 and 57%, respectively. this car's 10,000 miles per year residual value is 1% higher.

    Car_man
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  • Soupstar, the lease payment that you were quoted is nuts. I just worked up a sample Porsche Credit lease on a brand new 2005 Boxster without any miles that has an MSRP of $44,595 and a selling price of $42,000 and I came up with a 36 month, 12,000 miles per year zero down, pre-tax monthly payment of around $639. Boxsters are expensive cars to lease in general and used vehicles leases are not always the bargains that one might expect. Still, you definitely need to find a different dealer to work with.

    Car_man
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  • Hi kjw. I guess that the 911 is not popular enough a vehicle to merit its own lease discussion. I would be happy to answer any questions that you have about leasing one. According to the latest information that I have seen, if you were to lease a 2006 Porsche 911 Coupe non-S and without a Tiptronic transmission through Porsche Credit right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00280 and 61%, respectively. The numbers for an otherwise identical 48 month lease should be .00290 and 53%.

    Car_man
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