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Porsche 911 Lease Questions

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  • Will the person who emailed me about my White 2009 C2S several months ago please contact me again...thanks
  • That's a good deal and accurate in the fact that there are not any 2009's left in California.

    I leased a 2009 Carrera 2 demo with PDK, memory seats and an MSRP of 86k and change. The leased was based off price of 71k and change with 7,500 drive off and 800 a month. I'm happy.

    You were lucky to find one that they would still deal on.
  • anouanou Posts: 15
    You got a good deal too. Does demo mean the warranty has started, or only means it has a few miles?

    If I were to lease it, the price would have been $73k. The reason I bought versus lease were 1) the sales tax rebate (worth $1.5k to me), 2) I can get nearly the same home equity rate after tax, 3) the additional $4k off.
  • anouanou Posts: 15
    My local Porsche dealer just contacted me, saying Porsche gave the dealers additional $1000 marketing support. If this were true, it means the marketing support for 2009 is now $9k.
  • No problem, gre09. I believe that the 55% residual value that you were quoted is the correct one.

    Car_man
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  • Hi gre09. In addition to the special lease program that you've seen mentioned here, Porsche introduced another $1,000 cash incentive on 2009 models through the end of the year.

    Car_man
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  • Carman,
    Thanks for all the info you have been providing.
    I wanted your and other's feedback on what are usual penalies for ending a lease agreenment before time, say ending a 3 yr in 2 years or one year?
    Thanks.
  • You're very welcome, smirza2000. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.

    Car_man
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  • I am due to turn in or buy the 2008 Carerra S Coupe I have leased for the past two years. The residual value or buyout on the lease contract is $65.6K. or 66% of sticker price. While this worked to my advantage in the lease, the buyout seems a bit high. My options are to turn it in, buy it or extend the lease on a month to month basis for up to a year. Extension would be at $1300 per month. My question is what would a reasonable residual value percentage be at 24 and 36 months? It's a great car with no blemishes and less than 11,000 miles, so I'm not really eager to get rid of it, but don't want to overpay either.

    Thanks for any help you can give.
  • british_roverbritish_rover Posts: 8,476
    Got someone hitting me over the head saying they are getting a 600 dollar a month lease on a Carrera. I know that is not possible so what is the current program on a Carrera and Carrera convertible.
  • blackberryxyzblackberryxyz Posts: 8
    edited June 2010
    I wouldn't touch it!. I got a 2009 Carrera which is a far superior car due to the 2009 year engine change for 798.00 a month and 7500 drive off in Nov. of 2009 Very happy.

    three year lease, 10k miles a year. California
  • musafirmusafir Posts: 27
    Hi All,
    I am new to 911 forum and have been looking to buy a used 9114S. However, I saw a new 2008 4S in a dealership site priced at ~125.5K, with the following options:
    CFP - Tip Handbrake Lever Alu/Lthr
    X54 - Stainless Steel Exhaust Pipes
    672 - Navigation Module for PCM
    666 - Module for Telephone PCM
    640 - Sport Chrono Package Plus
    509 - Fire Extinguisher
    405 - 19" Carrera Classic Wheel
    342 - Heated Front Seats
    267 - Self Dimming Mirrors
    24905 - Rear Side Panel Dev.Stitching
    24904 - Dev.Stitching Side Centr Cnsl
    24903 - Door Handle Stitching Dev.Clr.
    24902 - Door Stitching in Dev. Color
    24901 - Dashboard Stitching Dev. Color
    249 - Tiptronic S
    CEE - Rear footwell lighting
    09991 - All Excl.Opt Stitch Dev Color
    XXZ - Foot Rest Aluminum
    XTG - Inner Sill Parts/Release-Lthr
    XSH - Seat Belts - Silver
    XSA - Sport Seat Backs Painted
    XRP - 5mm Wheel Spacers
    XPA - Thicker Steering Wheel-Leather
    XME - Rear Ctr Cons Painted Extr Clr
    XAJ - Standard Rocker Panels Painted
    XAA - Aerokit
    P01 - Adaptive Sport Seats
    CFX - Floor Mats With Colored Trim
    CEF - LED Door Pocket Lighting
    24891 - Stitching F/R seats Dev. Color

    ~ how much can I get off this car, given that it's a 2008 and 2011 are arriving at dealerships? I was figuring on ~30K off. Thanks in advance for your help.
  • gre09gre09 Posts: 9
    Car_man

    What are current lease incentives / money factors / residuals on 2010 911 Carrera PDK models. [assuming 3 year lease---36k miles per year] I've seen up to $15k off MSRP on remaining '10s

    Thanks in advance for your reply.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gre09. Porsche Financial Services' August buy rate lease money factor and residual value for a 36 month lease of a base 2010 Porsche 911 Coupe with PDK and 12,000 miles per year are .00167 and 55%, respectively for consumers who qualify for its top credit tier.

    I don't believe that Porsche is currently providing any cash incentives on leases of this car.

    Car_man
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  • gre09gre09 Posts: 9
    Car_man

    Thanks. What is the residual on 10,000 miles per year?
  • gre09gre09 Posts: 9
    Car_Man

    A dealer quoted a .00118 money factor on 2010 911s, is this accurate? I noticed that Cayman MFs are .00118. Also what is the residual on a 10,000 mile 36month 911 lease.

    Thanks in advance for your reply.
  • esq3esq3 Posts: 4
    I have been looking at a 2010 c2s with a sticker just over 101000. My dealer has offered me a lease at $1150 per month 10000 miles 36 months, plus tax with $3000 out of pocket. I am a repeat PFS lessee. Does that sound like a low price to you? thank you for all your postings.
  • epion49epion49 Posts: 3
    edited August 2010
    I want to lease a 2010 911 Carrera. My dealer is quoting me 1100 per month for 36 months. $5000 down and 10,000 miles per year. I think I'm getting ripped off. Anyone with suggestions? This is my first Porsche. I test drove one last week and I was SOLD. I just want to get the best deal.
  • epion49epion49 Posts: 3
    Hey Esq. That's around the price I got too. Incidentally, where did you get your deal?
  • blackberryxyzblackberryxyz Posts: 8
    edited August 2010
    I leased my car 911 Carrerra Coupe, PDK, last fall and am paying $798.00 a month for 36 months plus tax and drive off of $7500 and 10k miles a year. Southern California dealership.
    So do the math, I think you are paying too much in terms of 3 year total costs. I think they wil get better. I leased mine in November and the economy is not getting any better any time soon. The market for 100k cars has got to be getting slimmer and slimmer everyday, at least in the US. Maybe they are making the volume up in China.
  • Hey Blackberryxyz, what is the location of your dealership and do you remember the sales rep? I want to know more about your deal.
    Thanks
  • I am 1.5 years into my first PFS lease. Seeing the great deals people are getting as the economy continues to limp along, what kind of negotiating power can one expect at the end of the lease? Specifically: 1) if I want to purchase vehicle at end of lease, who do I negotiate with as far as the price? 2) Has anyone recently purchased a 911 at the end of a lease and how much less that resid value did you get it for? (understanding residual value is calculated based on MSRP) 3) Does PFS give incentives for repeat leasing?
    Many thanks.
  • No problem gre09.

    PFS' 10,000 mile per year residual values are 1% higher than its 12k resids.

    Car_man
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  • Hey gre09. According to the latest information that I have seen, Porsche Financial Services' September buy rate lease money factor and residual value for a 36 month lease of s 2010 911 C2 Coupe with 10,000 miles per year are .00167 and 57%, respectively.

    Car_man
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  • You're welcome, esq3. You never mentioned this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them.

    Without this number, it is much more difficult to tell how large a dealer discount you are being given, and in turn if there is any room left to negotiate. Let us know what the selling price is and I'm sure that either myself or another knowledgeable community member will let you know what they think.

    Car_man
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  • Greetings epion49. If you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    You never mentioned what this car's MSRP or selling price are. It is difficult to evaluate this deal without these numbers. Let us know what they are and I'm sure that either myself or another knowledgeable community member will let you know what they think.

    Car_man
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  • Hi cardiohex. You are correct, vehicles' purchase option prices are based upon a percentage of their full MSRPs.

    The first thing that I would do if I was interested in purchasing my vehicle at lease-end is contact the bank that I was leasing it through a month or two before the scheduled end date. While more often than not banks will not negotiate vehicles' purchase prices, from time to time they will, so it doesn't hurt to ask.

    Unfortunately, Porsche is not currently providing any cash incentives to loyal customers that I am aware of.

    Car_man
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  • esq3esq3 Posts: 4
    Thanks. I have worked a new deal on a base 2010 c2. The car stickers at $90,500. The dealer is offering the car for $78,500. The lease payments are $1010.00 plus tax with $3500 down and 10k per year. Please let me know what you think. When playing around with a financial calculator it seems like the payments should be less with a 57% residual? I do know that they have not come all the way down to .00167 as the money factor; they are at .00185, which by my calculations only adds about $5 per month. Thanks for your help.
  • You're welcome esq3. The car that you described probably has a spread of nine to ten thousand dollars and change between its full MSRP and its dealer invoice price. You are being quoted a dealer discount of $12,000. This looks like a very good deal to me.

    The difference in money factor is small when compared to the huge discount that you are being given. If you like the car, I personally don't see any reason not to go for it.

    Car_man
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  • alexp4alexp4 Posts: 1
    Dear Car Man,

    I am buying one of the last 2011 Turbo Cab's :)

    I wanted to see if you know what the current best terms for a PFS lease are. My dealer is quoting me 0.00290 money factor (seems awfully high) and a 54% residual for 36 mo's / 10k miles.

    Is it normal for them to charge a $895 bank fee and is that ever waived?

    I got the car for only 1,000 off MSRP (but got to custom order all the options). How bad a deal did I do?

    Many many thanks for your help!
    Alex
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