Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Porsche 911 Lease Questions

1246722

Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi egold1. 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 12,000 miles per year are .00310 and 58%, respectively. The longer you wait, I suspect the more willing dealers will be to discount 2007 models, assuming that there are still any around when you decide to buy.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • vwguild1vwguild1 Posts: 98
    Give some careful thought to dropping $130,000.00 + for a car that is leftover in someone's inventory...The above representing an $8,000.00 discount. For that kind of money build the perfect car for you...not what someone else didn't want...
  • habitat1habitat1 Posts: 4,282
    Not to play devil's advocate, but there aren't a lot of necessary options on the Turbo, since it already comes with full leather, nav, Bose, power seats, etc.

    Was at my dealer today and saw a Meteor Grey with sportchrono and a couple of other options for around $128,000. There will likely be no discount on a 2008 ordered, so if that or a similar car could be purchased for a $10k discount, that's a lot of nice dinners. I got a $10k discount on my 2005 C2S Cab and the only significant option it came with that I wouldn't have ordered was the sport exhaust. And, as fate would have it, that's now one of my favorite options.

    Everybody's math is different, but there do seem to be a few leftover Turbo's hanging around to potentially negotiate on.
  • vwguild1vwguild1 Posts: 98
    All that I am saying is that to spend over $130,000.00 in purely disposable income; I would be hard pressed to take
    ownership of a car that wasn't EXACTLY perfect for me...additionally at that pricepoint the $10K is not really even relevant...We had two Turbo Coupes in stock last quarter because both clients had either changed their minds or experienced some reversal of fortune...We sold the first one to a guy that had just inherited a bundle, and the second to a gentleman that had previously had 4 Porsches and bought a Corvette...this was in May...712 miles later he bought the Turbo on July 22nd, and we now have the Vette. Both Turbos nicely, but not lavishly equipped, as you indicated you had seen.

    But, you are certainly correct..."everybody's math is different"...
  • habitat1habitat1 Posts: 4,282
    I would be hard pressed to take ownership of a car that wasn't EXACTLY perfect for me

    I agree, but perhaps we have different definitions of "exactly".

    For me, in the case of the Turbo, it would have to be a 6-speed manual, in one of 2-3 colors / interiors, come with the sport chrono option and not be loaded up with the cosmetic stuff. At that point, a $10k discount would be just about perfect.

    I do agree with your point in another way, however. My wife and I looked at 100+ new homes over the course of the last 18+ months. Nothing was "exactly" what we wanted, typically with the builder offering more quanity of square feet than we need and way less construction and finish quality than we want. But most importantly, no real architectural inspiration, except in a couple of cases, that were in the wrong location. So we bought a tear down house, hired an architect and will be spending 16 months designing and building a Frank Lloyd Wright Prairie style house.

    I have that kind of patience and passion for a house. But Porshce did well enough with the 911 that getting close to my preferred configuration and driving away with the car at a significant discount was my choice rather than waiting 4+ months and getting the EXACT configuration at full price.
  • drjmakdrjmak Posts: 19
    has anybody here tried driving a c4s in the winter and if so what tires did u use?
  • womblewomble Posts: 28
    Hi Car Man, I want to lease a basic 911 coupe, tiptronic, power seats, bose, floor mats, heated seats, and right now I can't get any dealer to drop below MSRP on the car. The best quote I have for 36 months is $5,000 down, $1282 plus tax ($1388) for 10,000 miles a year. I am finding it hard to shop the deal as porsche dealers seem reluctant to give numbers over the phone, andI know I will get an initially high quote if I go in to each dealership. Trying to save time AND money here. How can I get leverage here to negotiate down? Given the money factor for lease is this a good deal I am being offered or not? Any help greatly appreciated! OH and I am in SoCal. Thanks
  • vwguild1vwguild1 Posts: 98
    Allocations for C2 Coupes are very much reduced for 2008...The Tip makes it even tougher...particularly in LA/SD.
  • chrmdomechrmdome Posts: 107
    Greetings:

    Yes, I talked to the salesperson who sold me my 2006 C2S, recently , and he related that the number of cars being shipped and available build slots for the " S" have been greatly decreased by Porsche ( 997 )... ( I live in North County San Diego, CA ). With the flush pockets that Porsche now has and the complaints about the excess production ( thereby increased depreciation ) in previous years ( 996 ), maybe Porsche is protecting my investment.. I hope so.

    Chromedome
  • But that theory does not check out in the world Porsche sales and production figures, which are at record highs. The Cayman was a profit makerits first year at 18,000 units and they made 28,000. That is why there is a heavy inventory of Caymans. The huge increase of production and shipment to the USA while 911's are elsewhere. The current shortage at the US dealer lots I am told is for diversion of shipments to markets Porsche previously ignored, such as China. That holds the discount on the 911 to 6-7% It also props up the immediate past model year resale to more than dealer cost.
  • chrmdomechrmdome Posts: 107
    Greetings:

    I'm okay with that, I'm just concerned about the glut that took place in the Southern California market with the 996 and the large fall in the value of the car on resale, hoping that that doesn't happen with the 997. I would guess that the 997S, whether cab or coupe , would be the most sought after model in the line due to it's performance and price. Common knowledge that the 996 didn't holds its' value and the complaints that followed did not fall on deaf ears at Porsche. Wonder what the inventory at Porsche of the Secret City in China is like....2 cars? But your point is well taken..

    Chromedome
  • kerbkerb Posts: 92
    Hello Carman, could you kindly provide the November Lease MF and Residual for an '08 Carrera for 36/10K, 36/12K, 39/10, and 39/12K. Additional what is the acquisition fee. Finally can you confirm the percentage of mark-up on the vehicle and what a reasonable discount would be. Many Thanks.
  • Hello kerb. Through the end of the year, Porsche Credit's buy rate lease money factor and residual value for a 36 month lease of a 2008 Porsche 911 Carrera without the Tiptronic transmission or X51 options with 12,000 miles per year are .00310 and 54%, respectively. The numbers for an otherwise identical 39 month lease are .00310 and 53%. This car's 10,000 mile per year residual values are 1% higher. Porsche Credit charges a $745 acquisition fee on every vehicle that it leases.

    You should be able to find this car's dealer invoice price by looking it up in the New Vehicle Pricing section of Edmunds.com. Unfortunately, I am not intimately familiar with what the market is like for this car right now so I can't give you an idea of what sort of price to aim for.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey Carman,

    So I can get a 4.4% lease rate from my bank for 36mos. I see that Porsche is about 7.5% will I lose anything by going with my bank? I'm looking at a 911 cab, base with no addons(87000ish).
  • kerbkerb Posts: 92
    Matthew, if you don't mind my asking - what Bank are you going through and what is their residual and acquisition fee.

    Thx.

    Steve
  • I havent gone that far yet, in fact I don't plan on doing my lease until April at the earliest(I like dreaming). My bank is Navy Federal Credit Union. They seem to give very good rates, unfortunately if you were never in the Navy or are not married to someone in it you can't become a member. (Well at least as far as I know, I don't pay much attention to it anymore.)
  • Ok I talked to bank, but it was an operator that was not part of the leasing dept(too late at night). However, she was helpful enough. For 90,000 and 36mos, she quoted 4.9% and .59 residual, and acquisition fee of 1868(!). One thing to note, she was only able to input the year 2006, which could explain the discrepancy of the 4.4 I quoted you earlier and the large acquisition fee. I'll talk to the leasing dept tomorrow to see if it changes.
  • kerbkerb Posts: 92
    My '08 Carrera is slated for February production, as such, I do not expect delivery until late March early April. Porsche Financial will not allow rate locks in excess of 30 days, as such, I expect their residuals to drop even further and am hoping that their money factor will drop as well. Unfortunately, I have no ties to the Navy - hence I can forget about those nice money factors you mentioned. Thanks for keeping me updated.
  • OK, so after visiting my Porsche dealer and talking lease terms I am not happy. Basically they are looking for 1500+ a month for a stripped 2008 911 cabriolet on a 36 month lease. However, after doing some google fu I found leases as low as 900 a month. I was contacted immediately by one of these companies after requesting a quote. They want 8800 down, but payments would be 890 for a stripped 911 cab. I, of course, asked if they were closed-end lease, to which they said yes. However, they mentioned the word "multi-term" lease, where they amortize the cost of the lease over a longer term(however I can end the lease at 30 months if I so choose, with no penalties, or so they say.)

    Basically this sounds too good to be true. Can anyone help me understand why this company can offer such low leases and still make money?
  • What happened to Car_man? Was hoping he could shed some light here.
  • It's simple: they extend the term of the lease and offer a lower money factor than Porsche Financial. You certainly don't want to put down $8800!!!

    Currently, Porche's rates for an '08 911 Cabriolet is as follws:

    Not sure how many miles you need...

    36 mo /15k - 60% / .00320 (7.68%)

    Give leasecompare.com a shot, or try a more competitive bank.
  • kerbkerb Posts: 92
    Could you please update me with PFS' current lease rates on an '08 Carrera (manual) for a 36/10K and 39/10K, thx.
  • 24/10k - 74% / .00320

    36/10k - 65% / .00320

    39/10k - 62% / .00320
  • kerbkerb Posts: 92
    Thanks for providing figures. Are you certain they are correct? The reason I ask is b/c I visited my local dealer yesterday and was advised that the 39/10k was 63% and .00280 while the 36/10k was 65% and .00280. Thanks.
  • That's the paperwork I have on this vehicle currently. Doesn't really matter though, your dealer has better numbers anyway.

    Again, numbers can vary by region. I'll double-check on Tuesday and get back with you.
  • kerbkerb Posts: 92
    Thanks for your prompt response. Were the numbers you provided - those of PFS? I am in South Florida.

    Thx.
  • Yes, those were PFS numbers. I accidentally quoted you the December programs... my apologies. Unfortunately, I don't have access to the January rates at this moment. When I get them you'll be the first to know. However, the numbers the dealer quoted you would appear to be very accurate.
  • kerbkerb Posts: 92
    Thx. Again. I certainly appreciate your assistance.
  • One more thing... is this just a base Carrera you're looking at?
  • kerbkerb Posts: 92
    It's an '08 Base MT with options - $78,790 MSRP.
Sign In or Register to comment.