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Porsche 911 Lease Questions

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  • Just made a deal and here are the final #'s:

    2007 911 Carrera Coupe
    6 speed
    only options are floor mats and arctic silver metallic paint

    US Bank Finance Company
    0.00202 Money Factor
    $41,440.00 Residual
    $71,281.38 Selling Price
    $74,000 MSRP
    15k mi/year
    36 mos
    $1,163/month, tax already included

    Did I get a good deal here?
    Looks like I benefited from the lower money factor.

    I was considering the Cayman S but the payments were coming in at the $1,061 range (because of the much lower residual on that car). I figured I'd go ahead and spend an extra $100/month for the 911 but of course the options are minimal compared to the Cayman S.

    Any thoughts would be much appreciated. Thanks for all the help so far!
  • The money factor looks good compared to what Porsche financing is currently offering (~.0032). No need for a lot of options - most of the options are cosmetic anyway. If you shopped around a bit you might be able to get a lower price, but not by a lot. It looks like a decent deal to me. You'll love the car, enjoy.

    How did you end up with US Bank? Did you go through a lease company or direct?
  • Thanks bwedotnet for the input.

    The dealer was the one who selected US Bank. He compared US Bank vs Porsche financing. I could have used Porsche financing with the same monthly payment but the residual was higher (60%) so if I decide to buy the car at the end of the lease, it will be to my benefit to go with US Bank. The Porsche financing money factor was .0031.

    If I were to use Porsche financing the sell price would have been $67,500, an 8.78% discount which is consistent with the discount percentages users here are seeing.

    Also my tax rate was 7.25% since I'm in Ventura County, California.
  • martinfmartinf Posts: 121
    What was the name of the dealership? The deal sounds very good, especially if you are considering purchasing at lease end.
  • I think that deal is in line with what you can get if you shop around. Porsche is currently offering a higher residual but their MF is also higher. Of course, if the payments are the same it is much better to have a lower residual and lower MF.

    I found that leasecompare.com quotes tend to be in this range. i.e. much lower residual value but much better MF. The payment comes out about the same as the current Porsche program.
  • The dealer is The LA Auto Gallery in Woodland Hills, CA.
    I must admit though, it was tough finding a lightly equipped 911; as we all know, Porsche options are quite pricey.
  • Hi ajitpk. Porsche Credit's current buy rate lease money factor and residual value for a 36 month lease of a base 2006 Porsche 911 C4 Cab with 12,000 miles per year are .00310 and 53%, respectively. The numbers for an otherwise identical 48 month lease are .00320 and 46%. The money factors for an identical 2007 model would be the same, but the residual values would increase to 61% for 36 months and 55% for 48 months. The higher residual values make the 2007 model's lease program much more attractive right now. Which model has a better lease payment will depend upon what sort of selling price you can negotiate on the 2007 model.

    Car_man
    Host
    Prices Paid Forum
  • Greetings gblind8. You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
    Host
    Prices Paid Forum
  • Hi tabiggs. Porsche Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Porsche 911 Turbo Coupe with a manual transmission and 12,000 miles per year are .00310 and 62%, respectively. I would be happy to use these numbers to estimate what your car's monthly payment should be, however in order for me to do so I need you to provide me with its MSRP and selling price. Let me know and I'll crunch some numbers for you.

    Car_man
    Host
    Prices Paid Forum
  • Car_man, here are the details of the deal:

    $71,281.38 Selling Price

    US Bank Finance Company
    0.00202 Money Factor
    $41,440.00 Residual
    $74,000 MSRP
    15k mi/year
    36 mos
    $1,163/month, tax (7.25%) already included

    Thanks!
  • Carman, residuals please on: C4/C4s/C4Vert (12k miles, 36 months) Thanks!
  • Local dealer is offering the following lease: MSRP $93,000 Discount of 3,000 so cap cost is 90,000 with 0 down, money factor .00380, residual 55%, 12,000 miles for 48 months. Lease payments including tax is $1475. It seems a bit high to me but I don't know if they will come down any more. What do you think? Thanks
  • Hi:

    With $0 drive off, this sounds about right. I would need to know the drive off fees that are being rolled into the payment and your tax rate to confirm.

    If you paid the drive off fees I estimate payments would be approx $100/mo lower. Using your MSRP, cap cost and MF:

    The Edmunds lease calculator gives a payment of ~$1409 / mo incl tax (8%).

    Leasecompare.com comes out to $1287/mo before tax.

    I think you can get a better discount. $5500 off MSRP is more appropriate on this vehicle at this time. An extra $2500 off cap cost will save you approx $60/mo ($2880 over 48 months).

    Take a good look at leasecompare.com. I like their plans because their residuals are much lower. All things being equal (i.e. payment) a lower residual with lower MF is better than a high residual and high MF.
  • Thanks so much for your input. My total initial payment would include $1410 in fees and $388 for "other upfnt" as well as the 1st lease payment. I had the dealer run a lease payment for US Bank as well, and it did have a lower MF and RV, but the monthly payment was just over $1500. I don't plan on buying the car at the end of the lease so do you still think it is better with the lower MF and RV? Also, to be complete, the Porsche lease payment of 1475 includes a base of 1365 and taxes of 110. Thanks again.
  • Hi:

    If you are paying the fees and first month up front then $1365/mo (before tax) sounds higher than I would expect.

    leasecompare.com quotes $1287/mo (before tax) for your MSRP and Cap Cost. Over 48 months the $80/mo difference will add up ($3840).

    It might be worth getting an alternate quote. If nothing else it will make you feel better about the Porsche Financing numbers. Good luck. Let me know how it goes.
  • No problem, gblind8. OK, so you're interested in a 2007 Porsche Carrera Coupe that has an MSRP of $74,000 and a selling price of $71,281. You're being given a $2,700 discount on this car. I know that Porsche dealers are heavily discounting leftover 2006 Cayman S and Cayenne models, but I am not personally all that familiar with what the market is like for the 2007 911 right now. Have you tried comparison shopping any? It might now be a bad idea to get another price quote or two on this car.

    The U.S. Bank money factor that you were quoted for this car is much lower than Porsche Credit's current money factor for it. As long as its residual value is close to Porsche Credit's then you would be better off leasing through U.S. Bank.

    Car_man
    Host
    Prices Paid Forum
  • Here's the information that you're looking for, jhl1963. Porsche Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Porsche 911 C4 Coupe with 12,000 miles per year are .00310 and 62%, respectively. The numbers for the 2007 911 C4 Coupe S are .00310 and 60%. Lastly, the numbers for an otherwise identical lease of a 2007 911 C4 Convertible are .00310 and 61%. All of the aforementioned residual values are for cars with manual transmissions.

    Car_man
    Host
    Prices Paid Forum
  • Hello jmatson266. I'm not all that familiar with what the market is like for the 911 right now, so I can't comment on this car's selling price, but I can tell you that the money factor that you were quoted is too high. For consumers who qualify for its top credit tier, Porsche Credit's 48 month current buy rate lease money factor for all models is currently .00320. Make sure that the dealer uses this money factor to calculate your car's payment. The residual value that you were quoted look about right to me.

    Car_man
    Host
    Prices Paid Forum
  • anyone know the current money factors & residuals for the new Targa 4S?
  • Thanks for the great info in the past. How does this deal measure up?
    2007 911 Carrera Coupe Tip

    0.0034 Money Factor
    $44,520.00 Residual (56%)
    $79,350 Selling Price
    $83,680 MSRP
    15k mi/year
    36 mos
    $1,390/month, tax already included

    Did I get a good deal here? I would like to make the deal soon if it's good, or I'll keep looking and ask for advice from you later. Thanks for all your wonderful help.
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