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Porsche 911 Lease Questions

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  • Consulted with leasecompare.com on the rates and residuals you were quoted and here's what they had to say...

    "It looks like the rate is now .00300 with a 61% residual value. Through LeaseCompare.com we can do a .00208 factor with a 55% residual value. This could save you close to $40 a month and give you over $3,300 in more equity at the end of the lease."

    http://www.leasecompare.com/quick_lease_quotes.php?ZipCode=45227&ModelYear=2008&- MakeID=680&ModelID=133&StyleID=109&vehicle=2008+Porsche+911+Carrera++&SessionID=- 804314&SelectedTerm=36&QuickQuote=-1

    It still appears that the numbers the dealer quoted you were the best. If they are true to their word, jump on it!
  • kerbkerb Posts: 88
    Thanks for the figures - are they for a 36/10K, 36/12K, 39/10 or 39/12 lease. If they are for a 12K mile lease, what are the rates for a 10K if any? Also, what's the acquisition fee?

    Thx.
  • PFS acquisition fee = $745

    Not sure what the secondary lender's acq fee is, as I received the numbers through an alternate source.

    I simply copied and pasted the response I got from one of my contacts, so I just assumed it was correct. After checking it over though, the numbers are off. The first residual of 61% looks like it could be for 15k and the second one of 55% looks like it's for 12k. I'll see if I can patch this up for you tomorrow.

    I feel like I haven't helped you on this matter, only made it more complex.

    Either way though, I don't believe the mf is going to get any better than what you were quoted. Plus, the dealer has no reason to lie about the residual, which is evident as our initial numbers were spot on, except for being off 1% on the 39/10k residual.
  • Hi Everyone,

    I am in Boston and am looking to lease a 911 in the next month or two. I have spoken to a few different dealers and when I ask for residual values they give me different residuals and they usually vary between 55% and 62%. Are residual values different for each 911 model? If so does anyone know what they are currently? Also, do residual values change as the year goes on, and if so, by how much? With interest rates decreasing, will the money factor decrease as well. Any info on this would be very helpful.

    Thanks in advance,

    GEOK
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi GEOK. I see that you have excellent taste in automobiles :). Yes, the Porsche 911's residual values do indeed vary by trim level. If you tell me exactly what model you are interested in, I would be happy to tell you what Porsche Credit's current residual value is for it.

    Yes, Porsche Credit has lowered its money factors recently. Through April 30th, its current buy rate for any length lease of any 2008 911 is .00270. Its current residual values are good through that date as well. Residuals gradually fall as the model year progresses. It is difficult to say what will happen to them for certain when Porsche introduces its new May lease program, but I would not be surprised if they fell by a point or two.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • kerbkerb Posts: 88
    Hello Carman, could you kindly provide the residual for an '08 Carrera (base MT) on a 39/10k? I am assuming the buy rate is the .00270 you quoted. Also, do you know when the above referenced buy rate began? Thx. for your help.
  • geok1969geok1969 Posts: 2
    Hi Car Man. I am leaning towards a C2 MSRP $82000.00 (approximately). I would also consider a C2S or C4, depending if there was any "value" in doing so, i.e. more car, for not much more in monthly lease payment. Is there any particular 911 model that Porsche is looking to "move", which may create a situation to get more value out of a lease (all things being equal). Also, is there any benefit to leasing an '07? I have found a couple of nice C2S' and C4S' leftovers that are interesting, but the dealers seem reluctant to discount to a point where is makes sense to lease '07 vs. 08. Doesn't make sense to me. Any and all help is appreciated. Thanks in advance.

    GEOK
  • isurgisurg Posts: 1
    Hey Carman,
    What is the residual on a 2008 997TT, MSRP 147000. Is the buy rate still .0027? Any recommendations on leasing such a expensive car?
    thanks
  • whmanwhman Posts: 1
    Car Man - Any ability to provide input on where a lease range/total out of pocket should be for an '08 Cab - sticker $98K (Tiptronic - not a 4 or an S) - Thanks, trying to evaluate lease #s dealers seem to be pushing - $7500 and $1500/month for 39 mo/15K miles
  • egold1egold1 Posts: 9
    The dealer is telling me MF for 3yr/36k mil is .00349. What I've read on this site say otherwise. I live in san diego, ca. There are only two local dealers. What MF should I be asking for?
  • gocard1gocard1 Posts: 18
    I see a lot of solid info on this site about leasing a new Porsche. Any thoughts/input on leasing let's say an '06 or '07 911 C2 Cab?

    What kind of money factors do they use? What kind of residuals? Say we're talking about a 36 or 48 month lease with 10k miles.

    Any reactions to the prospect of leasing a couple of year old 911 vs. buying it?

    My questions emanate from trying to balance the cost of leasing where I walk away in 3 to 4 years vs. purchasing and seeing what it will be worth in 3 to 4 years as retained "equity", taking into account having to pay hefty sales tax on a purchase for the full value of the car.

    Any thoughts on info on things like money factors and residuals on '06 and '07 911 Cabs?

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Egold1, Porsche Credit's current buy rate lease money factor is only .00250 for consumers who have good credit. The dealer that you are working with is trying to mark up its base rate a lot to add additional hidden profit to your deal. This sort of thing is not surprising. It is very common at luxury car dealers, like Porsche. You can try comparison shopping with another dealer or two to see if they would be willing to use the buy rate to calculate your car's monthly payment, but the problem with getting a low volume vehicle like a 911 is that you may find they are not willing to.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • vwguild1vwguild1 Posts: 98
    Are you talking about new cars?
  • 1st time 911 buyer here. Considering Carrera w/typical optional equip. Trying to decide what makes more sense...lease an 08 vs. buying a 2007 pre-owned. I don't have to have a brand new one...more interested in minimizing the cost to own over a 36-48 month period. I'm a low mileage driver 7k/year.

    Have heard 2009s will be out in next 90 days or so. How will that affect the economics of my decision?

    Thanks in advance to anyone who has insight.
  • Hi there!

    Been reading Edmunds for years and have used the site to help buy/lease 5 cars, working my way up the automotive food chain from a couple of Jettas to my current car, an Audi S4 Cab. Well the lease is almost up on my cab and I am now planning to replace it with a custom ordered 2009 911 C4 Cab. List price on the car is $115,360 and the dealer's first offer is to sell it for $112,360. He is quoting a MF of .0028 and residuals of .59 (36 mos) or .53 (48 mos).

    The questions I have are:
    1) Is that the right MF? I've read here that it's currently .0027 and I've seen 3rd party lease rates on Porsches as low as .0026
    2) Why are dealers so reluctant to negotiate on cars they order? I went through the same song and dance when I ordered my Audi (I ultimately got the car for $1000 over invoice) and they are starting it up again - 'we never lower the price on ordered cars, these are hard to get, blah, blah.'

    Isn't an ordered car essentially risk-free money for them? They don't have to wait for someone to come in and take inventory off of their hands or hope that the config they chose will actually sell. What I'm getting at is how much leverage do I have to shop for the best deal (I'm in Boston and there are 8 dealers within 75 miles so I think I have plenty of options)?

    Thanks!
    Shawn
  • phil0sophy - Congratulations on your upcoming purchase.

    1) The money factor through PFS is 0.00250 with top tier credit and the residuals are correct for 10,000 miles per year (they can't adjust the residual). Other banks such as USBank have been aggressive (relatively speaking), but they are currently not providing lease rates on this vehicle.

    2) I think you could do better on the selling price.

    Best,
    Matt
    eights38@gmail.com
  • 2008 C2 Lease

    $5000 Total drive off
    $1000/36 months
    15K included

    Black/Black or Black/Tan
    No package
    No options

    Good deal?
  • Hi Matt,

    Thanks for your reply! I went back to them and lo and behold, the MF was changed to .0025 but then the drama started. lol

    I wanted to put something in the P&S that would help prevent them from pulling a lease bait n' switch at delivery because they would have quite an advantage at that time - they would have my deposit and I would have already turned in my Audi.

    They came back with the typical song and dance 'we sell C4s at full list all day, in fact we have a bunch on custom order for list price' and they were not willing to share some of the risk (i.e. that I could get my deposit back if the deal terms turned grossly unfavorable) on the deal. So I thanked them for their time and am going to shop for a better deal.

    I read about Authority Car Buying on here a couple months back and I am going to see if they can help, I'll let you know how things go!

    Thanks again,
    Shawn
  • madmanmoomadmanmoo Posts: 2,039
    Hi Shawn,

    My dealership is selling all '09's at sticker right now. They are limited supply and brand new. Deals are on the '08's. Granted, this is a sample of 1 dealership, but we are a large store and still don't have tons of vehicles to choose from on the '09's.

    They are worth every penny.
  • Hi Madmanmoo,

    I don't doubt that, my understanding is that none of the dealerships have received many 09s and that there is a moratorium on selling that inventory because it is to be used as demo stock. But I am custom ordering my car and was looking to pick it up from the same place I leased my S4 cab (also custom ordered) when I turn that car in in a few months.

    I do believe the cars are worth the money but I'd be hard pressed not to negotiate for a good deal on a $115k vehicle with the kind of econ turmoil we're seeing right now. Just because I can afford it doesn't mean I'm going to throw it away (or else I won't be able to afford much for long! lol). :)

    Thanks for your input!
    Shawn
  • phil0sophy - Where do you live? What dealer have you been working with?

    Matt
    eights38@gmail.com
  • madmanmoomadmanmoo Posts: 2,039
    Totally understand. :P
  • Hi Matt, I live in Boston and have been working with Herb Chambers Burlington (formerly Pass & Weisz).
    All the best,
    Shawn
  • I am looking to finalize a lease on an 09' 911S PDK. The options bring the base sticker up to 103k which includes $950 desination. Last the dealer showed me, the residual was 58 or 59 (I forget).

    I know I can get 5% off sticker....perhaps 7%. I am looking for 36 month/12k mile lease. I live in South Florida/Broward County.

    My question is:
    Must I go through Porsche Leasing or are there better money factor and residual values out there? If so, what is the best way to find those deals and will they allow me to use a different bank for the lease?

    I dont plan on buying the car upon lease expiration. I have a porsche now that ends lease soon and I wonder if I can negotiate OUT the $500 lease resturn fee that is currently built into my existing lease with Porsche Lease.

    Thanks
  • Shawn,

    I am about to take the plunge on an 09 911s PDK optioned at 103k. I already have negitiated 5% off sticker, and am shooting for another 2%. I am looking for a 36month.12k lease. Can you share your experience with the money factor, residuals, etc so that I can be armed to get the best deal?

    Thanks
    John Marcum
  • :D I know that there a plenty of dealerships offering $10k or more (~10%) off on a new 08 911 now. Does anybody know if there is a possibility to get a similar deal on a similar 09 late next summer when the 2010's are coming out? It is quite common to see ~10% off in the latter half of the year most years. My particular question is for special ordered (min. optioned) c4s to be delivered late in the year, if I paced a deposit now. I know the dealers are reluctant to give much of a deal of any specially ordered vehicle. I've seen as much as 13% off on a new s cab recently.

    Next question, does anyone have any info. on the sport bucket seats (like the ones on the GT2) which are an option on the reg 911s now? Are they comfortable for daily driving, worth the money, carbon fiber? Anybody considering these seats? I'm not seeing these at the dealerships.
  • Can I lease a 2009 911 for under $1000?

    Thanks in advance for the replies!
  • Hi:

    Under $1000/mo, probably not but I think you can get close, even with $0 cap reduction. I special ordered a 2007 C2 Cabriolet with a few nice options 2 years ago (Nov 2006, MSRP $92K) and I was able to get a payment around $1250 (before tax, 12K/36mo, lease through US Bank).

    It is much more a buyers market now than it was 2 years ago. If you special order a C2 (not a cab) with no options you should be able to do much better than my payment and get close to the magic $1000/mo number (before tax). Shoot for a 6-8% discount on a custom order. It is possible, you just need to do your homework and call a lot of dealers.

    Good luck.
  • Back in Nov 2006, I leased a 2007 C2 with just S wheels and metallic paint as options for 15k mi/year for 36 months at $1192/month. This is with $2k total drive off. In retrospect I could have got a better deal after talking with other dealers after signing the lease.
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