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Porsche 911 Lease Questions

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  • idrachman45idrachman45 Posts: 2
    edited March 2013
    Hi - dealer told me about a porsche incentive where they offer a cap cost reduction for 3 months x your current lease in addition to any discounts you may get. Also, he mentioned 27 month lease is best plan now. What are the mf and residuals for this versus a 24 month lease, 10k/miles a year?

    Thanks
    -Ian
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Ian. The program that you were told about is the Welcome to Porsche conquest offer. Your interpretation of it is correct.

    Porsche Financial Services' March buy rate lease money factor and residual value for a 24-month lease of a 2013 911 C2S Coupe with 10,000 miles per year are .00200 and 74% for consumers who qualify for its top credit tier.

    Car_man
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  • Thanks car_man. Much appreciated.
    They gave me .0020 and 72pct residual on a 27mth lease.
    Regards,
    Ian
  • atsor3atsor3 Posts: 10
    edited April 2013
    Hi Carman, can you provide MFs and residuals for the above two leases in April?

    Thanks!
  • 20139912013991 Posts: 1
    Hi Carman, I am looking to order a 2013 911 s what is a good amount of a discount to assume that can be obtained off sticker in southern california. Thanks,
  • tsparktspark Posts: 3
    just bought one and did a lot of research. breakdown

    4-8.5% on new vehicles

    some get 8-10 on old stock

    Southern cal seems to be a tough market from what I have heard for negotiating

    I would accept no less than 5% but aim for 7.5-8%

    fyi I received 7.5% on base carrera last month, new in stock
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome Ian. Sound like the lease program they gave you was spot on.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi atsor3. Porsche has temporarily decided to extend its March lease program. Its buy rate lease money factor for top tier customers is still .00200.

    PFS' 24-month, 10,000 mile per year residual value for a 2013 911 C2S Coupe is 74%. I haven't seen the 27-month residual, but I suspect that it's 3% lower than that.

    Car_man
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  • mdkrpmdkrp Posts: 19
    Thanks Car_Man-
    For 24 month lease, 10k miles/yr, my dealer is giving me a Residual of 71%.
    Is that correct? it seems it should be higher.
    Also can you confirm that for April MF is still 0.00200 and do they still have the 3 month lease buyout of current nonPorsche leases for new customers?
    I know it was going on in March but I don't see it listed in Edmunds incentives anymore.

    Thanks again
  • bpole308bpole308 Posts: 1
    Hi Carman and Others,

    Like others I wanted to get clarification on leasing details and there's various rates being through around.

    I'm looking at a 911S in Los Angeles for about $122,000 MSRP. Dealer has reduced pricing to about $116,000 (includes conquest offer). Looking at 24 month lease with 10k or 12k miles.

    1) Should I be getting more off the MSRP ?
    2) Should I expect a MF of 0.002 ?
    3) What is the residual for 10k / 12k ?

    Current dealership is saying with minimal drive off (only 1st month, taxes, registration, bank fee), they can do $1600 inclding taxes. did not give details on the MF, residual though.

    Any thoughts are very much appreciated as I'm thinking of getting this in the next 2-3 weeks.

    Thanks,
    Eric
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Your hunch was right mdkrp. Porsche Financial Services' April buy rate lease money factor and residual value for a 36-month lease of a 2013 911 S C2 Cabrio with 10,000 miles per year are .00200 and 75% for consumers who qualify for its top credit tier.

    As far as early termination goes, Porsche is waiving up to a whopping twelve remaining payments for current Porsche lessees and up to three remaining payments for current non-Porsche customers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Eric. The money factor that you mentioned is correct. That's what I would insist be used if I was in the market for a new Porsche.

    Porsche Financial Services' April residual value for a 24-month lease of a 2013 911 S Coupe with 12,000 miles per year is 73%. It increases by 1% for leases with 10,000 miles per year.

    Car_man
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  • I am confused I guess on how taxes are applied to the lease deal. I have a deal in hand for a Carerra 2 with PDK and a handful of options.
    MSRP $98,900
    Negotiated Sale Price $93,900
    Lease is for 24 months with 12k miles annually. $1,800 out of pocket and $1,300/mth
    The breakdown sheet that the dealership supplied indicates sales taxes of $5,667 (I live in FL at 7% tax rate). Seems like the taxes are being applied to the entire price of the car and not the part that I am using (2 years worth).

    Wouldn't the sales tax be a lot lower?
  • ghstudioghstudio Posts: 951
    edited April 2013
    I also live in Fl....our rate is 6.5%, but that doesn't matter. The tax is charged on your down payment as well being added to each month's payment. Unlike some other states, you only pay taxes on what you actually pay on your lease. Multiple security deposits (actually any security deposits) are not taxable since they will come back to you.

    Based on your 7% tax rate, your total tax payments over the life of the lease should be about $2310.

    Hope this helps.
  • Thanh you ghstudio. Here was there initial deal they provided:
    2013 911 C2 with PDK, etc
    MSRP $101,530
    Market Savings $4,550
    Smart Choice Price $96,980
    Appearance Protection $599
    Door Edge Guards $299
    Theft Protection ($7,500) $499
    Vehicle Selling Price $98,377

    Sales Tax $5,950.93
    Tag/Registration Est Fee $508.75
    Tire/Battery/MVWEA $6.50
    Dealer Service Fee $699.95
    Balance Due: 105,543.13

    Cash Due $6,750
    24 Mth 12k miles $1,253

    They said the residual would be 74%, but I don't think these numbers add up to any sort of savings really. I called another dealership and may have found the deal I was after. Actually 2 dealerships had MUCH better deals for C2's that were identical in MSRP.
  • ghstudioghstudio Posts: 951
    edited May 2013
    Without even checking the numbers...I don't even talk to dealers that try to add appearance packages, door guards, theft protection (high profit) items to the deal. I have no idea how they are figuring the tax...but the deal offered is just wrong to start with. My guess is that you'll be much happier at a different dealer.

    I would look for a deal with no money down (only first month payment and legally required costs at delivery) of about $1265/mo plus taxes. If you want to put money down up front (which you should not do), then just divide it by 24 and subtract that from the monthly payment which will get you close to the payment you should expect from the dealer...in this case roughly $1040 including your 7% tax. You would have to pay the tax on the down payment as well....so that would be another $472 or so.

    Finally, the dealer can order 2014's now and the deal for a 2014 should be almost the same....just FYI. Of course you have to wait for the car, but you can get the features you want vs the one's the dealer ordered for their stock car.
  • bmchrisbmchris Posts: 6
    Can someone share the latest rates, assuming they came into effect on 5/1? I'm looking at the MF and residuals for a 24 or 36 month lease for 5K miles/year. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bmchris. Porsche introduced a new lease program in Mid-April that is scheduled to remain in effect through the end of June.

    porsche Financial Services' current buy rate lease money factor and residual value for a 24-month lease of a 2013 911 C2 Coupe with 15,000 miles per year are .00200 and 75% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00200 and 62%.

    The residual value for a lease with 12,000 miles per year would be 2% higher, 10,000 per year would be 3% higher, 7,500 per year would be 4% higher...I don't know this for certain but using this pattern one would think that 5,000 miles per year would be 5% higher.

    Car_man
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  • fq1fq1 Posts: 47
    Car-man, thank you so much for all your help. Are the residual and money factor the same for a 911 C2S coupe as well? Also, how about for C4S coupe? Thanks!
  • tanturatantura Posts: 1
    I would also be interested in the latest rates from PFS for a 2013 C2S PDK Cab please.
    I am being told a MF .0027 and 71% residual for 24 month / 10k
  • ghstudioghstudio Posts: 951
    edited May 2013
    not sure but if your dealer is telling you the MF is .0027, my bet is that he's marking it up quite a bit or you don't have good credit. Most Porsche's (if not all) have a mf of .0020 for top credit leases. I will know better later today....I'm heading to a dealer today myself.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome fq1. The money factor for the C2S Coupe is the same, but the residual value for a 24-month lease of it would be 4% lower than the residual for a C2 Coupe. The residual value for a C4S Coupe would be 5% lower.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Good advice ghstudio. You're absolutely right, the money factor that was quoted is way too high. The buy rate is .00200.

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  • unireverseunireverse Posts: 2
    Car_man,
    Thanks for the help. Can you provide the residuals for 2013 C2 cab and C2S cab, with 15k,12k and 10k? Thanks in advance!
  • dalemadalema Posts: 26
    edited May 2013
    I would be interested in the same information.

    Also, is the conquest program still available?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome unireverse. Porsche Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2013 911 C2 Cab with 15,000 miles per year are .00200 and 59% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2013 911 C2S Cabriolet are .00200 and 53% (wow the resid really drops for the S).

    The residual values for a lease with 12,000 miles per year would be 2% higher. The 10,000 mile per year residual values would be 3% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi dalema. Please see my previous post for the lease information that you're looking for.

    The conquest program is indeed still available.

    Car_man
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  • dalemadalema Posts: 26
    Thanks! Do you know if dealers are still getting the $5,000 sell down cash from the manufacturer?

    I had also read that there is a $1,000 prepaid mastercard bonus available in connection with financing, but couldn't find any further details on it.
  • unireverseunireverse Posts: 2
    Car_man,
    Thank you, great info. Do you know what these same numbers would be for a 24 month term?
  • kapkanimdkapkanimd Posts: 68
    Car_man,

    Thanks again for all your help on this forum. Can you confirm the residual for a 24 mo. C2 coupe with 7,500 mi would be 81% (80% for PDK)? Also can you explain the conquest cash ($5k) or link me somewhere that show it (Edmunds does not have it anywhere)? Would be really interested in picking one up if these numbers are correct! Thanks in advance.
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