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Porsche Boxster Lease Questions

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  • skwrskwr Posts: 2
    Car_Man I would appreciate your opinion on the residual value of a 2003 Boxster S that msrp'd in 2003 for $57790. I am buying the car from the original owner and it is either a case of he had a 36 month lease and paid x to keep it and wants his resid back on sale or it is a 48 month lease coming due in October and he will want his resid paid. I would like to be able to approx his resid so I know where his point of pain is. btw car has only 6000 miles....Thanks much!
  • kyfdxkyfdx Posts: 31,087
    Hey... did a little research... None of these posts are exactly what you are looking for, but they come close.. Just note the dates on the posts... you'll have to extrapolate from there..

    One note... Are you sure he didn't do a 60 month lease, starting in October, 2002?

    Car_man, "Lease Questions - Ask Here" #7195, 10 Jul 2003 4:06 am

    Car_man, "Lease Questions - Ask Here" #6070, 1 Apr 2003 4:28 am!keywords=allin%3Amsgtext%20limit%3A.ee9394d%202003%20boxster

    Car_man, "Lease Questions - Ask Here" #4670, 24 Sep 2002 3:59 am!keywords=allin%3Amsgtext%20limit%3A.ee9394d%202003%20boxster

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  • skwrskwr Posts: 2
    Thanks for looking into it. This gives me a pretty good idea. Carfax has him taking delivery on 11/13/2003 as a lease, yet on 12/04/2003 there is a "title issued or updated" line. Not clear what happened. Now that I have a number to work from I will call him to discuss. I'll let you know how it works out. Thanks again.
  • kyfdxkyfdx Posts: 31,087
    Usually, on Carfax, you'll get the sale date.... then another date when the final registration is done at the DMV.. So, the two entries a few weeks apart is pretty normal...

    Good luck!

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  • I am interested in a 36 month 10k miles per year lease on a 2007 Porsche Boxster non-tiptronic. Anyone know the residual and money factor.

    Thanks,

    Steve
  • Can someone please help me with the current residual and money factors for both a 2007 Boxster and Boxster S? I intend to purchase (lease) within the next week.

    I'm looking for a 24-month lease with 12k miles/year.

    TIA,

    hts
  • Hi Steve. Porsche Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Boxster with a manual transmission and with 10,000 miles per year are .00310 and 61%, respectively.

    Car_man
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  • Hello hschultz. Porsche Credit's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Porsche Boxster with a manual transmission and with 12,000 miles per year are .00310 and 68%, respectively. The numbers for the '07 Boxster S are the same. Boxsters that are equipped with Tiptronic transmissions have residual values that are 2% lower than ones that have manual transmissions.

    Car_man
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  • When doing the lease calculation, I should be multipling the MSRP times the residual value percentage to get the residual value.

    Should the MSRP used be the total MSRP which includes the delivery/destination charge?

    Thanks
  • kyfdxkyfdx Posts: 31,087
    Yes.. MSRP including destination

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  • If they do, can someone please tell me the money factor and residual value % for a Boxster, manual tran, 30 month lease, 12k miles/year.

    Thanks a lot.

    Joe
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Joe. I don't recall ever seeing Porsche Credit residual values for 30 month leases. It may be possible for dealers to modify Porsche Credit's published lease program to provide consumers with a 30 month lease, but I am not sure. I can give you an idea of what this car's 36 month lease program is like though. Porsche Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Porsche Boxster without the Tiptronic transmission and with 12,000 miles per year are .00310 and 59%, respectively.

    Car_man
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  • Thanks Car_man for the previous response.

    I went to a Porsche dealership and the lease was way too high. The salesman just entered the numbers into the computer and got the lease amounts. He doesn't know or understand what the money factor is.

    How do you negotiate leases when the salesman doesn't know how the calculations work?

    Also, I live in Illinois which has horrible tax rules on leases so perhaps I shouldn't even try?

    Thanks
  • dhanleydhanley Posts: 1,531
    "The salesman just entered the numbers into the computer and got the lease amounts. He doesn't know or understand what the money factor is. "

    I'm going to guess "sales technique"--he's hoping you'll just sigh and sign the lease deal.

    I also agree about illinois. I'd just buy here...
  • Hello, all. I'm considering of leasing a regular Boxster later this year. I configured one, through Carsdirect.com, and the car comes to about $50k even (Carsdirect price). The options I'm interested are as follows:

    Preferred Package w/ Tiptronic
    Xenon Headlight package
    18-inch Boxster S wheels

    I have a somewhat decent down payment (around $6k). I'm in So Cal. Anyone leased one at around that price range? What kind of payments should I expect? Also, how's the maintainence? Thank you all very much for the information.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem joechicago7. It doesn't matter what the salesperson that you are working with understands. Just negotiate as low a selling price as possible on the car that you are interested in. Then have the dealer calculate its monthly payment using Porsche Credit's buy rate lease money factor. If the salesperson that you are working with doesn't understand what that is, ask for a salesperson or manager who does. You're right about Illinois having terrible sales tax rules for leased vehicles. You may want to compare the payment that you are quoted on a lease to the payment for a balloon note or a conventional finance contract.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi fredrickk. In your post you mentioned that you have $6,000 to use as a down payment for your lease. It really is not in your best interest to make a large down payment when leasing. Consumers who make large capitalized cost reductions on leased vehicles risk losing them it their car or truck is totaled in an accident or stolen and never recovered. All you have to pay at lease signing are your car's monthly payment, a security deposit equivalent to its payment rounded up to the nearest $50 increment, Porsche Credit's $745 acquisition fee, and any required state taxes or fees.

    I would be happy to use Porsche Credit's current lease program to estimate what your monthly payment would be on the Boxster that you are interested in right now, but in order for me to do so I need you to provide me with both this its MSRP and its approximate selling price.

    Car_man
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  • topcat3topcat3 Posts: 1
    Looking to lease a 2007 Boxster through my business. Spoke to a dealer referred by costco. Here are the numbers, please let me know if they make sense.

    Metallic color
    Standard Leather interior
    Bi-Xenon Headlamp Package
    18" Boxster S Wheel
    Preferred Package w/Tip

    price quoted 51,365.00
    lease factor .246 through US bank ($0.18/extra mile)
    36 month, 25,000 miles/year
    0 down, 0 drive off (all fees rolled into lease)
    monthly payments $1,203.14

    Residual value 47% of MSRP - extra miles = $20,155

    *I'm leasing through my business. 80% of lease payments are tax deductible. This is why I'm forcing depreciation with the 25K miles/year.

    Can you please let me know if this is a good deal? The $51,365 price seems high to me, but how much does it matter over a 3 year lease? Do the lease numbers add up?


    Thanks,

    TC
  • hello Im not sure what car I want to Buy. But im looking at the Z4 coupe BMW and the porsche boxter. I went to the porsche website and the lease seems way too high. Plus I dont know about the service at porsche. My mom owned a bmw and the service was covered for a year. If anyone can tell me how much the lease would cost on a boxter for 3 years. If its in the 400 range, Im good but anything higher is a no go. Plus My parents are well off but no way rich.

    Thanks
    Ron
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi topcat3. You were smart to find out the exact selling price of the Boxster that you want to lease. Do you know its MSRP as well? If so, let us know what it is. It will show us how much of a discount you are being given on this car and it will enable me to use Porsche Credit's current lease program to estimate what your monthly payment should be.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Ron. Porsche never really provides any sort of lease support on the Boxster, so leasing one is usually pretty expensive. On the other hand, BMW has a pretty good lease program on the Z4 right now. I would be happy to give you an idea of how much a lease on the Boxster that you are interested in would cost right now. In order for me to do so I need you to provide me with the MSRP and approximate selling price of the exact model that you want.

    Car_man
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  • tesla43tesla43 Posts: 2
    Car man,,I would like you to assess my recent situation and tell me how badly I got screwed by my dealership. I went ahead and leased a Porsche Cayman S without really understanding the leasing process. Dumb move on my part. Anyway, the car is metallic slate grey with black interior. The original MSRP was $66,650.00 and did not really include that many options. I ended up getting the vehicle for $59K. However, I had a Mazda RX8 that was only two years old and in excellent condition with only 7,350 miles on it that I basically gave to them for $16,850 which is what I owed on the car. I knew that Edmund's said I could get $19K but they gave me a bunch of double talk about how they go by this supposed "black book" which listed my car for the price of "$16,500.00." Because I did not understand the lease process I figured that if I put down a larger down payment it would work for me in regard to a much lower monthly payment. At the time, both the sales person and leasing agent were not offering up a lot of information as to how the lease really worked. Long story short. I really wanted the car and didn't think to scrutinize the deal until after the fact. The ugly truth is I now have a monthly payment of $740/mo, a 60 month lease, and I am out a down payment of 5K that I really did not need to make. I called the salesman back the following day when I started to panic and at that time he finally told me "that I did not have to make such a large down payment." It turns out that for every one-thousand dollars you put down it lowers your monthly by only twenty lousy dollars. I'm feeling pretty bad at the moment. Is this deal as bad as I feel like it is? Is there any kind of silver lining here? Your comments are much appreciated.

    Thanks,
    Tesla
  • A few comments:

    - 60 months is a really long lease. Leases are usually no longer than the warranty lasts. Couldn't you of gotten close to the same deal on the 36 month leaase?
    - On a 60-month lease, each $1,000 of down payment saves you $20/month. That is correct. So I don't think you necessarily got screwed by putting down money. Please refer to Car Man's specific warning about putting any money down on any lease.
    - Regarding the trade-in, it sounds like you got a trade in value equal to the outstanding loan. Not necessarily getting screwed.

    If you didn't like the deal of you felt you needed more information then you should of waited. Not sure why you did it if you were going to make this post shortly after.
  • psmdpsmd Posts: 13
    If possible, please post lease money factors and residual values for a 2007 C4S Cab/tip. For 12-15-20K miles.
    Thanks
  • heuslerheusler Posts: 1
    Have now had the car for a week and loving every mile. Came out of a bmw, which I really enjoyed, but this is a very different experience. My question comes down to the break-in period. I have been keeping the car below 4k rpm, but since this is a commuter/weekend car, it will take some time to hit the 2k miles. What is the real deal on the break-in? Dealer suggest just keeping the rpms varied (not running over 4k for an extended period of time)
    Also, dealers are making great deals. Did my research and ended up just slightly over the invoice price. If your looking, now is the time!
  • habitat1habitat1 Posts: 4,282
    Break-in is important on Porsches. My dealer, a former factory engineer, told me during break in that, in addition to the 4,300 rpm limit, and vary speed/rpms, to AVOID SHORT HOPS. His rule was, don't start the car unless you intend to drive it for 15+ minutes and allow not just the water, but the oil temperature to reach full operating temperature and hold it there for 5-10 minutes. That allows all engine components, gaskets, seals etc. to fully expand and contract during break in.

    My dealer claimed never to have seen an RMS (rear main seal) leak from buyers that followed this advice. For those that didn't, they fared much worse down the road. I've since heard this same advice from experts who own / service Porsches, Ferraris, etc. Oddly, it's nowhere to be found in the owners manual.
  • wmsc998wmsc998 Posts: 4
    Sorry I don't have a lot of facts yet.

    2008 Boxster
    Tiptronic, Navigation, bose premium stereo other gadgets
    58, 175 list 56, 175 sale price

    What should I expect the Money factor to be .00310? or has it changed? I was estimating a lease price with no down at just over 1000.00

    Was I even close?

    Thanks
    Michael
  • Am I reading this corectly?

    You are considering, a base Boxster with Tiptronic for $1,000 per month?

    Good grief. My last two cars have been Porsches, half of my immediate family has worked for Porsche and even I find this absurd. A base 911 C2 6-speed with a few key options can be leased for around $1,000 per month, $0 down. And it's 10 times the "Porsche" as a Tiptronic base Boxster in both performance and respect.

    If you really want to blow $1,000 a month that's your perogative. But in this case "there is a substitute".
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Tesla. This particular discussion is really for consumers to discuss the Porsche Boxster. Please post any additional questions that you have on the Cayman in the following discussion: "Porsche Cayman: Lease Questions".

    Since we're already here, I'll take a quick look at your deal. A base 2007 Porsche Cayman S has a spread of around $7,500 between its full MSRP and its dealer invoice price. The discount of $7,600 that you were given looks very attractive to me.

    As far as the rest of your deal goes, 60 months is really too long to lease for. I usually advise consumers to lease for 36 months or so. A lot can happen over the course of five years to make one want to get out of their lease early and unfortunately it is very expensive to do so. Your family situation could change causing you to need a larger vehicle, your daily commute could change causing you to go way over your mileage allowance, or you could just decide that you want something new (you wanted our of your RX-8 after only two years).

    As far as the $5,000 down payment goes, I would have advised you against making it, but doing so is not the end of the world. The main drawback of making a down payment on a lease is that if your vehicle is totaled in an accident or stolen and never recovered there is a good chance that part or all of any down payment that you made will disappear. That's why I always tell consumers not to make any capitalized cost reduction when leasing.

    I don't think that this deal is as bad as you believe it is. Your car's selling price was excellent. It is difficult to say what money factor the dealer used to calculate your lease payment. It is possible that there was some mark up there to make up for your car's low selling price. Furthermore, I wouldn't have leased for such a long term or made such a large down payment. Just remember not to do these things the next time that you lease and enjoy your cool new car :shades: .

    Car_man
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    P.S. Don't forget to stop by the new Dealer Ratings & Reviews section of this site to share your thoughts on this dealer with everyone.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the info that you're looking for, psmd. Porsche Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Porsche 911 C4S Cabriolet with Tip and 15,000 miles per year are .00310 and 51%, respectively. The residual value for an otherwise identical lease with only 12,000 miles per year would be 2% higher. 15,000 miles per year is the highest mileage allowance that Porsche Credit publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your deal and have to pay an excess mileage penalty.

    Car_man
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