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Porsche Cayenne Lease Questions

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  • cayenne1cayenne1 Posts: 1
    Looking for advice prior to making offer on 2006 Cayenne SUV AWD 3.2L 6 Cyl). MSRP is $42,200 with total add ons of $14,430 (Tiptronic S, Moonroof,Roof Rails, Bose Surround Sound - these have highest values). Vehicle was a loaner with 5,800 miles. Dealer sales price is $46,445 but said would accept $45,850. Looking for advice, negotiation strategy, good deal?
  • I'm thinking about a lease on an 06 Cayenne 3.2L 6 Cyl w/Tiptronic Transmission. I'd like to know the MF and the residual for a 36 month/12K per year lease. If you have the 36 month/15K per year rate it would be great too.

    The cars I've been looking at have MSRPS around $54-55K so I'm wondering if anyone could chime in on what they think a good price would be on one of these right now. Edmunds' TMV seems quite high.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings starroth. You are being very smart by doing research to make sure you understand leasing before negotiating with any dealers. You should be able to answer most of the questions that you have on this subject by reading the following articles: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Let's do some calculations and see what your lease payment should be like on this truck. According to my calculations, if you were to lease a 2006 Porsche Cayenne S with an MSRP of $71,000 and a selling price of $64,000 (wow Cayennes sure have huge margins) through Porsche Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $974. I'm not sure how much tax would add to this payment, but I suspect that it would still be lower than $1,200 a month with it. Perhaps the dealer that you are working with is marking up Porsche Credit's buy rate lease money factor to make additional back-end profit on your deal. If you are leasing through Porsche Credit, make sure that this dealer uses a money factor of .00290 (for 36 months) to calculate your truck's payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi stanford06. If you were to lease a base 2006 Porsche Cayenne (not the S or Turbo models) 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 .00290 and 58%, respectively. This truck's 15,000 mile per year residual value would be 2% lower.

    Car_man
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  • Why not go for the Cayenne Platinum series. Cheaper and with more options included. I guess they will have a new model change for 08'. Out with old and in with the new!
  • starrothstarroth Posts: 2
    Hi Carman & thank you for the information!
    I have just had a series of irritating experiences! I asked one of my local dealers what money factor and residual they used in calculating the $1200 month payment for a $64k car. I was told no and no deal. So, I sought out pricing from a leasing company. I thought it was going well, they found an acceptable vehicle and told me they had fleet pricing and would get the car for $1k over invoice and would arrange for the $2400 in additional options to be added. Then they told me the money factor was .00214 but the residual was 44% for a 36mth 15k mile lease. The payment including CA tax =$1235. I received the paperwork yesterday and it was for a 48mth lease! I just can't find any honest people to deal with.

    So, of course I refused to sign although I risk losing the only vehicle in CA that has the options I need. They said they can offer, through USBank, a 36mth lease 15k miles for a rate of 6.9% and my payments will go up $140 per month. Why on earth would I agree to this. It appears that things keep getting worse.

    Do you know of any reputable CA dealers that offer the terms of Porsche Credit without marking it up? Or any reputable leasing companies?

    Also, I can not get a straight answer from anyone on whether there will be a new Cayenne S available before 2008. I have been told there will be no 2007 models by a local dealer and new models will not be available til summer 2007. I would order a vehicle to my specifications but I can't wait over 1 year to get it. Anyone know when a new model year will be available?

    Any help, advise or referrals would be greatly appreciated. I still really want a Cayenne S even after everyhting that has happened.
    Thank you!
  • racer_65racer_65 Posts: 43
    Can't help you with the leasing aspect, but here's the scoop on the new model release:
    - True, there will be no 2007 model.
    - A facelifted Cayenne will come out around Feb-March 2007 as a 2008 model. Some horsepower increase is expected.
    - To fill the gap between now and next year, Porsche is issueing a special "Titanium Edition" model. These are still 2006 cars, but come with special Titanium colored trims and options package, starting at a base price of around $65K.
  • highridehighride Posts: 2
    I was curious to know what the going lease is on a BASE Porsche Cayenne just a total base one with automatic transmission. Thanks any reply would be greatly apreciated
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi highride. I would be happy to estimate what the lease payment should be like on the Cayenne that you are interested in. However, in order for me to do so I need some additional information form you first. This information includes the full MSRP of the truck that you are interested in (including the destination charge), its approximate selling price, how long you want to lease it for, and how many miles per year you need to be able to drive it. You can find the MSRP and dealer invoice price of the truck that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. You may be able to get an idea of how much you will have to pay for this truck by visiting the following discussion: "Porsche Cayenne: Prices Paid & Buying Experiences". Let me know and I'll crunch some numbers for you.

    Car_man
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  • stovystovy Posts: 1
    Hi everyone. A first-time poster here.
    I wanted to ask if my expectations for leasing a Cayenne S are unreasonable.

    I've been scouring this forum and I have been calculating a potential lease off of .56%-.58% (12K-15K), a money factor of .0029, and minimum drive off.

    I've been to a couple of porsche dealers and they have quoted me above the MSRP. One dealer told that they are giving me thousands below invoice, but the lease came in at around $950/mo tax not included(48 months). When I asked him about the residual value and mf, he told me about 40 something percent and .0032. He was pretty friendly until I started asking about the mf/residuals and going into the calculations. Then, he became very curt and said give me a counter offer. He even took the car I was looking at out of the discussions as it was the Titanium edition and said we should look at the models that have been on the lot for a while. That is fine by me if he would give me a good rate, but it looks like he is giving me a low residual on the older vehicles.

    What is the best deal I can get on a $67,000 msrp Cayenne S (or a $50,000 Cayenne) with exceptional credit (885 transU)? I would go with the 48mo lease as I think it would be cheaper from my calcs.

    Can I expect a MF of .0029 or lower and a residual of 56-58%?

    Will the 2006 S get me better deals than the titanium edition? One of the dealers was implying that the titanium would hold higher residuals, but I assume they would hold the car price close to MSRP.

    I'm literally planning on walking into a dealership and saying take it or leave it. If they don't bite, Lexus is offering me great deals on their GS300s. Whatever happens, tomorrow is the day =) Would appreciate any help and apologies for the long post.

    THANKS!
    S
  • 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
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