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Porsche 911 Lease Questions

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Comments

  • 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: 86
    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: 86
    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: 86
    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: 86
    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: 86
    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: 86
    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: 86
    Thx. Again. I certainly appreciate your assistance.
  • One more thing... is this just a base Carrera you're looking at?
  • kerbkerb Posts: 86
    It's an '08 Base MT with options - $78,790 MSRP.
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