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Porsche Cayenne Lease Questions

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  • I am looking at a 2006 Cayenne S with a MSRP of $62,710. The dealer has discounted the vehicle to $54,000. I need a 36 month lease with 25,000 miles per year. I am planning on $0 down. The dealer has quoted $1091.22 per month. How does that sound?
  • Welcome stovy. Porsche Credit's current base lease rate and residual value for a 48 month lease of a 2006 Cayenne S with 15,000 miles per year are .00320 and 42%, respectively. As you can see, this truck's actual lease program is less attractive than the one that you were expecting. The numbers for a 36 month lease are more in line with your expectations, at .00310 and 52%. The Titanium Edition's residual values are actually 2% higher than the Cayenne S' residual values are. However the added cost of the package and the fact that the dealer that you are working with seems less anxious to provide a good deal on the Titanium model will likely make it more expensive to lease.

    Car_man
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  • Hi tomster2t. Let's use Porsche Credit's current lease program to estimate what this vehicle's lease payment should be. According to my calculations, if you were to lease a 2006 Porsche Cayenne S with an MSRP of $62,710 and a selling price of $54,000 through Porsche Credit right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $863. 15,000 miles per year is the highest mileage allowance that I have seen Porsche Credit publish 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 lease-end and have to pay an excess mileage penalty.

    Car_man
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  • Good. I got a 2006 Titanium edition with a list of 66k+ for 4 years with 15k per yr. 1800 down and 1100 per mo.
    Mckenna sold it in Norwalk. Nice people and they let me drive several before purchase. Check out the Titanium model as a lot of extras on the S come with it, i.e.Navigation, 19" wheels, Xenon lights, etc. I love it!
  • Hi Car_Man and everyone!
    My girlfriend and I are in the market for the Cayenne V6. I was reluctant to lease a cayenne in September due to the money factor and residual rates. I spoke to McKenna Porsche in California over the phone and they claimed the best residual rate they could offer me with Tier 1 credit was 35% for 60 month lease, which was ridiculous compared with the information I found here.
    Now it's October and my question is -- What is the BEST money factor and residual for either 12000 or 15000 miles/year and either 36 or 48 lease on a '06 cayenne? Thanks for your response in advance and looking forward to joining the Porsche family!

    Peter
  • Hi Peter. Sixty months is an awful long time to lease a vehicle for. It is usually fairly expensive to break leases early and a lot can happen over the course of five years to make you want to get a different vehicle. For example, your family needs could change causing you to need more room, your commute could change causing you to go way over your vehicle's mileage allowance, you could just plain get sick of your vehicle, etc... You would be much better off leasing for 36 months. Porsche Credit's current buy rate lease money factor and residual value for a 36 month lease of a base 2006 Cayenne with 15,000 miles per year are .00310 and 54%, respectively. Just in case you want to lease it for longer than this, its 48 month numbers are .00320 / 44% and its 60 month numbers are .00320 and 37%. If you decide to go with 12,000 miles per year, its residual values would be 2% higher.

    Car_man
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  • Hi Car_Man, Do you know the residuals and moneyfactors on 2006 base Cayenne's for 24 and 36 months at 12 and 15k miles?

    Thanks.
  • I sure do, mrresearch. Porsche Credit's current buy rate lease money factor and residual value for a 24 month lease of a base 2006 Porsche Cayenne with 15,000 miles per year are .00310 and 57%, respectively. The numbers for an otherwise identical 36 month lease of this truck are .00310 and 54%. If you were to lease it with only 12,000 miles per year, its residual values would be 2% higher.

    Car_man
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  • Thanks! Car_man
  • Hi Mr. Car_Man,


    I have an offer to lease a used 2006 Porsche Cayenne Turbo with 5800 miles for sales price of $89000 and MSRP 104000. I was given $0 down, 2500 per month and 24 months. How do you evaluate this offer?

    I have another offer for a new Porsche Cayenne Turbo S MSRP 111000 with sales price $96,000 for $0 down, $2400 per month and 24 months 15 k.

    Could you tell me what your thoughts are on these two scenarios?

    Thanks so much,

    Mr_nomad2007
  • kyfdxkyfdx Posts: 27,901
    I'm not Car_man, but knowing the actual payment amount will probably help. What are the monthly payments?

    MODERATOR
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  • Hi Kyfdx,

    Thanks for your advice: The numbers are in the question actually: $2400 and $2500 per month respectively, with taxes included.

    Mr_Nomad2007
  • kyfdxkyfdx Posts: 27,901
    Ahhh.... I see now..

    I'm not sure on how fast the Cayenne Turbo depreciates (very fast, I'm guessing).. But, those numbers seem extremely high..

    Couldn't you finance the car for a lower monthly payment? When lease payments exceed finance payments, then that takes away a lot of the incentive for leasing. I haven't seen many good 24-month Porsche leases, except for the Cayman.. Have you tried getting quotes for 36 months?

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi Kyfdx,

    I'm caught in a discussion with my self about whether to put down $60,000 in 24 months with a lease or finance a $90000 vehicle and risk not being able to sell it. That's my dilemma. Yes, the 36 month lease is definitely cheaper by the month and yet much dearer at the end of 36 months ($60,000 v. $72000).

    I was really looking for someone to help me put some numbers together such as money factors etc., for the 2006 Porsche Cayenne Turbo S. I was hoping that would help me get a better feel for the payments.

    Warmly,

    Mr_Nomad2007
  • tinocotinoco Posts: 18
    Hello Car-Man,
    I am currently in the process of helping a friend get a lease on this car, I just got a great deal on a BMW and learned quite a bit regarding leasing aspects through this forum.

    If anyone can give me some information as far as the current(MF) and residual on a 2007 3yr./15k Cayenne S - also is there any sort of security deposit you can apply to lower your monthly payment such as with BMW services?, I am in the SoCal area. Any input would be greatly appreciate it.
  • No problem, mrresearch.

    Car_man
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  • Hey mr_nomad2007. Believe it or not, I personally would want a bigger discount than this if I was going to lease this truck. Porsche dealers are providing some amazing deals on leftover 2006 models right now. I suspect that they are getting some sort of kickbacks from Porsche to help them blow them out. The price that you were quoted would be pretty good for a brand new Cayenne Turbo, but I personally would want a larger discount on one that already has 5,800 miles on it. The problem that I have with demo vehicles is that dealers never seem to be willing to discount what are essentially nothing more than low mileage used vehicles for my taste.

    Car_man
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  • Hey Mr_Nomad2007. I can give you an idea of what this truck's current lease program is like. Porsche Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Porsche Cayenne Turbo S with 15,000 miles per year are .00310 and an amazingly low 41%, respectively. The Cayenne Turbo's (non-S) numbers are a little better at .00310 and 48%. With a residual value like that, I personally definitely would not lease the Turbo S. I might consider leasing the Turbo though...well who am I kidding I couldn't afford to lease either of them. I've been a good boy this year, perhaps Santa will bring me one :P .

    Car_man
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  • Hi tinoco. I'm glad that you found this forum so helpful in your quest for a new BMW. I would be happy to give you an idea of what the current lease program is like on the vehicle that your friend is interested in. Porsche Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Porsche Cayenne S with 15,000 miles per year are .00310 and 52%, respectively. I provided you with the lease program for the 2006 model because the 2007 model has not arrived at dealers yet. It is going to be a late introduction. I've never heard anything about Porsche Credit offering a multiple security deposit program, but that doesn't necessarily mean that it doesn't have one. Your friend should check with their dealer to make sure that one doesn't exist.

    Car_man
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  • tinocotinoco Posts: 18
    Car_Man..

    Thank you very much for your response, regarding Cap Cost are you at all familiar with what kind of money people in general are paying in other words is it $1000.00 over invoice? That information would be very helpful. I live in SoCal., so if you know what range would be considered a good deal, that would most certainly be appreciated. Also, what other fees should I look for in a lease agreement, are they typical to the BMW fees? such as MACO, etc...

    Thanks a million!
  • Hi tinoco. I believe that Porsche dealers have been offering some pretty hefty discounts on Cayennes lately. I would not be surprised if you were able to get a 2006 Cayenne for fairly close to dealer invoice. Make sure to stop by the following discussion to see how much other community members have paid for theirs lately: "Porsche Cayenne: Prices Paid & Buying Experiences".

    I don't know what sort of advertising fees and such Porsche charges, but I can tell you that if you lease through Porsche Credit you will have to pay a $745 acquisition fee.

    Car_man
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  • revets2revets2 Posts: 16
    carman,

    we are looking at a 2005 Cayenne S with almost 19k mi. and get this...the dealer classifies it as a new car because it was driven by a Porsche exec for demo purposes and has never changed title. any car to me that has 19k mi., pits in the aim dam, scuffs in the back bumper, obvious wear on the metal inner door protectors, and nicks on the console seems used to me.

    they are saying that it was a $74k auto as it's equipped with the air suspension pkg. and off road technology package. they are offering it for $54k red tagged and said they could get it down to $52, no extended warranty.

    i guess porsche can lease this vehicle b/c they're calling it new.

    i don't know how to calc a residual value on this. wouldn't this be the residual value?

    also trying to figure out the differences between the 2005 and 2006 vehicles.

    thanks carman!
  • revets2revets2 Posts: 16
    also, the salesman was explaining that it was more advantageous to purchase the vehicle because of the high residual value.

    i didn't understand this.

    thanks for your help!
  • Hi carman,
    wondering what the base lease rates and residuals are in Feb for the cayenne titanium edition models for 10K miles, 27 and 36 months.
    thanks!
    Mike
  • Well, here is the deal I got. I leased a 2006 Titanium for 1800 down,1102 per mo.for 4 years with 15k per year. Car was listed at 67k or so. Received 5600 off. Thats it!
  • Thanks for the info Bimbobrakes
  • imokimok Posts: 1
    Hi Carman,
    Interested in leasing a 2006 V6 model, any idea what the residual is like? How much acquisition fee? I am looking at around $41K range with less than 10k miles
  • Hi revets2. Wow, you won't see too many 2005 Porsches out there that are still classified as new vehicles. Porsche Credit doesn't publish a lease program for "new" 2005 models any longer. Perhaps it has some sort of special program that it uses for this sort of situation. If it does, I haven't seen it.

    You definitely should treat this car as a used vehicle when trying to come up with a price to offer for it. The dealer can call it whatever it wants, but with 19,000 miles on it it IS used.

    I am sure that there are a few minor differences between the 2005 and the 2006 Cayenne, but I believe that they are basically the same vehicle. The 2008 Cayenne that comes out this month is an all new truck that will be significantly different from the 2005 and 2006 models. You may be able to find out what the differences are between the '05 and the '06 model by visiting the following discussion: "Porsche Cayenne".

    Car_man
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  • Here you go, Mike. Porsche Credit's current buy rate lease money factor and residual value for a 24 month lease (I haven't seen the 27 month program) of a 2006 Porsche Cayenne Titanium Edition with 10,000 miles per year are .00310 and 58%, respectively. The numbers for an otherwise identical 36 month lease are .00310 and 55%.

    Car_man
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  • Hi imok. This truck's lease program varies by term and mileage allowance. For now I will assume that you're interested in a 36 month lease with 10,000 miles per year. Let me know if you want something different. Porsche Credit's current 36 month buy rate lease money factor and residual value for the 2006 Porsche Cayenne V6 with 10,000 miles per year are .00310 and 57%, respectively. The last time that I checked, Porsche Credit charged a $745 acquisition fee on every vehicle that it leases.

    Car_man
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