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Porsche 911 Lease Questions

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  • I've answered my own question. I've talked to a couple of dealer in So Cal, and I can take $8K discount (it is now $8K only on 911, not $10K), and not get special low money factor, but get regular Porsche lease deal. They told me that monthly payment is cheaper that way. Lowest I've got is $1200 plus tax on MSRP $99K 911 Cab for 36 month at 10K miles per year based minimum drive off. I think he is making about $2000 over invoice. Is this a fair deal?
  • Hi tb310. Yes, the .00146 money factor is available through the end of the year.

    The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. The only difference would be that the dealer cash that Porsche is currently providing on the 911 is not compatible with its special lease program. Therefore, you will only be able to negotiate in the space between full MSRP and dealer invoice price rather than getting this car for under invoice...which would be probable on a cash purchase.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • All, I am new to the Porsche, didn't realize/reaseacrh enough. I shlould have ound this board before leasing my 2009 POrshe.

    I just wanted to get feedback. I paid 5K total clsing costs and my payment is $1857/=. I was offered a $1927 lease for a 2009 PDK Carrera S (not 4S or cabriolet).
    So when I got a 2009 4S cabrioloet with PDK (yr 2009), I though 1857 with 5K down is a good deal. It is too late now, but am just checking for future, if this is too much price, average or did I get a good deal?
    Thanks.
  • BTW its for 15K miles per year for 36 months.
    Looking forward to some experienced folks input.
  • dwpcdwpc Posts: 159
    It looks like the flat depreciation on late model used 911s should make for a great lease deal. The Porsche website doesn't say anything about pre-owned car leases except that they offer them on cars up to 5 yrs old. I haven't leased a car in about ten years and need a refresher on evaluating a deal. I've never leased a used car. I hope some one can refer me to an informative website and maybe provide the Porsche MF for a used 911. Is it a good idea to negotiate a lease via e-mail?

    The dealer seems resistant to discussing a used car lease and I'd like to go back fully prepared. BTW, the car is a Porsche-certified '05 911 Carrera (997?) with 50K miles . I still need to research maintenance costs that I might be exposed to.
  • Hi Carman,
    Requesting your input..
    I am new to the Porsche leasing/buying process, didn't realize/reaseacrh enough. I should have found this board before leasing my 2009 Porshe.

    I just wanted to get feedback. I paid 5K total closing costs and my monthly lease payment is $1857/=. I was offered a $1927 lease for a 2009 PDK Carrera S (not 4S or cabriolet) by another dealer in Miami. I bought this car from mid west.

    Its a loaded Carrera 4S Cabriolet with Sports chrono, nav, bluetooth etc, with MSRP of $124K.
    So when I saw a 2009 4S cabrioloet with PDK (yr 2009), I thought $1857 with 5K (includes first payment) down is a good deal. It is too late now, but am just checking for future, if this is too much price, average or did I get a good deal?
    Thanks.
  • dwpcdwpc Posts: 159
    Hi. More on my hope to lease a pre-owned 07 Cayman S
    Porsche dealer's quote for a 36 mo. lease of a pre-owned '07 Cayman S:
    Price $41.5K
    Cash Down $7.5K
    MF .00350
    48% residual (on price)
    "bank fee" of $895
    Pmt: $670+ tax

    Not good. I could get essentially the same pmt on a brand new 09' Cayman S with a little price haggling. Or a stock Cayman for $100/mo less and 50% less $$ down.

    I expected a lower MF reflecting the going loan rates and much a higher residual because its past the worst depreciation years and its a Porsche. With those lease variables, there's no way to get a price low enough to make up for the low residual and this work. Are my expectations unrealistic?
  • Carman and/or others:

    I am looking at a lease offer for 2009 demo 911 Carrera coupe with PDK for $7,500.00 drive away and $800.00 a month before tax or roughly $36k all in for the 3 year lease. 36 months 10k miles/month

    The car has less than 2,000 miles and has never been titled as it is a dealer demo car therefore qualifies as new for lease purposes. Original MSRP around 86k

    Sounds pretty good to me, thoughts from anyone asap? thanks

    (I also saw a 2009 911 arctic blue cab over the summer for roughly $43k all in for a 36 month lease but my wife hated the color and nixed the deal. There dont seem to be those types of deals around for the 2009 cabs at least what I have seen here in California, both north and south.)
  • gre09gre09 Posts: 9
    Car man:

    What are the residuals on remaining '09 911s?
    Ex.: 36month/10k miles/year?

    Is the Money Factor still .00146?

    Thanks
  • Hi smirza2000. The easiest way for me to evaluate this deal would be to look at the selling price that your lease was based upon. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Let me know how much you paid for your 911 and I'll tell you what I think.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi dwpc. The problem with leasing pre-owned vehicles is that manufacturers usually provide more support on new vehicle leases than on used. As a result, the difference in cost between leasing a CPO vehicle and a similar brand new one is often not nearly as large as one would think it should be.

    If I was interested in leasing a Cayman right now, I personally would go with a 2009 model and take advantage of the lease support that is available on it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • gre09gre09 Posts: 9
    To Car Man:

    What are the current lease offers on remaining '09 911 inventory?

    Is the residual 55% or 58% on a 36month/10,000 miles/year lease?

    Is there a current ***promotional???***money factor?

    Thanks
  • Hi blackberryxyz. I always find that the easiest way to evaluate a lease is to look at the selling price that the vehicle that one is interested in is based upon. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how large a dealer discount you are being given.

    Let us know what this 911's selling price is and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey gre09. Yes, Porsche's special buy rate lease money factor is indeed still .00146 on 2009 models.

    Porsche Financial Services' residual values for the 911 vary by trim level. For instance, its 36-month, 10,000 mile per year resid for an '09 911 Coupe is 56% and the resid for the '09 911 Cab is 54%. I would be happy to give you an idea of what the current residual value is like for the exact model that you are interested in if you describe it to me.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey gre09. Please see my previous post for my response to your questions. Thanks.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • gre09gre09 Posts: 9
    The specifics on the '09 911 that I'm looking at is a base Carrera w/ PDK options are:
    -PDK
    -Bose sound pkg.
    -heated/seats/steering wheel
    -pwr seats
    -xm radio
    MSRP: $85K

    On a 36month/10kmiles per year lease what would the residual be? Dealers are all over the place some say 55% others 53%. Please, let me know.

    Thanks
  • anouanou Posts: 15
    Does Porsche do dealer "hold back"? What's the best way to figure out dealer cost? Thanks.
  • madmanmoomadmanmoo Posts: 2,039
    Kia store is down the road sir. Please address any further inquiries to them.
  • kyfdxkyfdx Posts: 27,906
    Gee... wonder how come Porsche owners have that reputation.... you know the one? :surprise:

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • anouanou Posts: 15
    It's okay. Some people prefer to give their money away to car dealers. Personally, I prefer to give my money to Second Harvest or United Way.

    This is the first time I am buying a Porsche, so I honestly do not know how to evaluate a good deal. Is invoice + $300 a good deal or should I hold out for invoice? Hence the deal hold back question.

    Many thanks.
  • madmanmoomadmanmoo Posts: 2,039
    I think you can save the righteous indignation.

    There is a reason why holdback is not listed anywhere. It isn't for you. Expect to pay profit on a vehicle unless you find a leftover model from the recession.
  • Talk about righteous indignation...keep your panties on madman...he simply asked a question.
    Is it fair to assume that you are a salesman or dealer since you got so bent out of shape with the taboo question about dealer holdback.

    All manufacturers have dealer holdbacks but that is something they dont want the general public to know about. It is not something that is discussed or negotiable. Therefore, even if you buy the car at dealer cost and he gives you a sob story about how he's losing money, the dealer is still making money on the car. However, it is only fair that they make a fair profit or else they couldnt afford to stay in business. What you think is fair is subjective.
  • madmanmoomadmanmoo Posts: 2,039
    My panties are firmly in place. :) And yes, I'm a salesman.

    If you like discussing holdback, then Porsche is not for you. You are missing the point of buying a Porsche. It's not about the deal, it's about the car.
  • kdd1kdd1 Posts: 2
    This info can be found on www.truecar.com.It is about 1.5% of invoice.
  • kyfdxkyfdx Posts: 27,906
    Actually... this discussion is all about price.. ergo, the category..

    Funny... my local Porsche dealer advertises price in all of their ads... :P

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • gre09gre09 Posts: 9
    CarMan:

    Is Porsche offering any new :Lease deals for the month of December?

    Thanks in advance for the reply.
  • anouanou Posts: 15
    Thanks for the information.

    According to the site, truecar.com, the hold back is about $1k. This explains the deals I have been offered (almost invoice - marketing support).

    I am now ready to go get the best deal I can this weekend.
  • anouanou Posts: 15
    Thanks everyone for your help. I was able to purchase a 2009 911 coupe near invoice minus marketing support. The MSRP on the car is $85,620 and I paid $69k (before tax & license). According to Edmunds.com, the invoice on the car is $77,151. But with $8k of marketing support, I was able to finish the deal.

    The cool thing is that according to porsche.com, there are only three new cars that would fit my criteria (PDK + memory seat) on the West coast. After spending the whole day on the phone, I was able to purchase one of them.

    First Porsche for me. I am very happy.
  • 29282928 Posts: 1
    congratulations! sounds like you got a great dea. how did you figure out the total $8k of marketing support?
  • anouanou Posts: 15
    I talked to five car dealers this morning, but 9 dealers overall the whole week. Some of them would not talk about it; some of them pretended not to know about it; but some of them simply came out straight and discussed it.

    Edmunds.com previously posted the marketing support was $7k (since expired on Nov 30th). But from an earlier post, someone talked about $10k marketing support became $8k.

    So both the posts in this forum plus the anecdotal evidence suggested there is still marketing support there (as well as a combination of special lease rate and a smaller dealer cash).

    Hope this helps.

    BTW, in all my dealings, the Porsche dealer @ Livermore was the most straight forward. The price they gave me on day one was almost just as good as the deal I got. If they still have the car, I would have bought it from them. So if someone is interested in a 2008 C4 coupe in black color with many toys, they have a great deal for you.
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