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Porsche 911 Lease Questions
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Here are the preliminary numbers for the 2009 Porsche Carrera. The payments were worked up with $5,000.00 total down. The payment is about $991.00 (including tax and tags) for a 39 month lease. This payment is assuming the credit is excellent and $5,000.00 due at signing.
what do you guys think?
New to the forums and want to know if I would be getting a good deal. Don't know much about leases and off hand don't know the money factor and residual. However, I have excellent credit. Went to the dealer the other day and they have an 08' Turbo cabriolet with a sticker of $147,000 they said they would take $20,000 off the sticker and a 36 month lease with 15k miles would run around $2100 per month but they thought they could get it to around $2000. This would include taxes and everything. Is this a good deal? Any help would be greatly appreciated.
As far as leasing goes, it is very important to understand exactly how it works so that you don't get taken advantage of by dealers. You definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
Porsche's current buy rate lease money factor and residual value for a 36 month lease of a 2008 911 Turbo Cab with 15,000 miles per year are .00290 and 51%. Make sure that the dealer does not charge you a higher money factor than this.
Car_man
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Having said this, Porsche's February lease program was only scheduled to run through March 2nd. It will likely introduce its new March lease program at some point over the next day or two. Please feel free to check back with me and I will gladly provide you with an update.
Car_man
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Thank you for the EXCELLENT info. I'm also interested in a new 911 (2009 or left-over 2008). Can you please tell me what Porsche's March lease/buy programs are (complete with money factors and residuals for a 10,000 mile 36 month lease).
THANK YOU so very much,
- Max
Thanx
The 911's residual values and exact cash allowances vary by trim level. If you let me know exactly what car you are interested in I can tell you what they are.
Car_man
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This is important to note. Porsche is running these on a first come / first serve basis. When the certificates are gone, so are the deals. That means act sooner than later. Each dealer only has a limited amount of certificates as well. There isn't a huge pot that everyone takes from. Each dealer has a set amount and once they are gone, that's it.
I'd love to take you up on the offer of providing residual values and cash allowance details!!! I'm looking either a:
2009 911 Turbo MSRP = $136,000
or
2009 911 Carrera S MSRP = $97,000
Again, thank you very much for the information, it's EXTREMELY helpful,
- Max
Thanks,
Shawn
MF is .00146 by Porsche Financial
the residual 10K 61% 12 k 58% or is it 12 k 56% for both cars.
ALSO what is the cash back for the dealer? on c2 v. c2s and c4scab?
One more question... how much discount should I get. They are quoting 7k below MSRP--- on c2 90K msrp and 6K below MSRP on c2 83K.
Just pricing them out before going in for the final negotiations.
Good luck,
Shawn
Would you mind sharing your msrp? I am wondering how close you got to invoice and how much cash back the dealer was getting.
g
Any update on residuals and exact cash allowances for c2, c2s and c4, I am looking at 10 k for 36 months for the above 3 trims.
Thanks
G
These cars' residual values vary by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 12,000 miles per year. Let me know if you want something different. Porsche's current residual value for these terms is 51% for the 2009 911 Turbo Coupe and 55% for the 911 Carerra S.
Car_man
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Car_man
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As far as cash allowances go, there is $1,000 on the '09 911 C2 Coupe, $2,000 on the C2 Coupe S, and $2,250 on the C4 Coupe.
Car_man
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It would be easier for me to tell if you are getting a good deal on this car if you were able to provide me with its selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing it. I personally would never lease a car that I didn't know the selling price of. Doing so is sort of like financing one without knowing what the dealer is charging you. Let us know what this car's selling price is and I'm sure that either myself or another knowledgeable community member will tell you what they think.
Car_man
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MSRP- $102,460
Selling Price- $92,150
So if the money factor is .00146 and the residual is 56% for 10K/yr, then is a lease price of $1292 which includes my taxes (8.625%) a good lease price ?? He claims he is selling it to me at about invoice for calculating the lease.
Dealer denies there is any "cash incentive" and says he is relying on the "holdback" money.
Thanks
What do you mean by this ? Dont quite understand what being bought down means...thanks
For example, there is no such thing as free money (0%), the manufacturer is using incentive cash to buy down the rate to that level.
Make sense?
In previous posts here it was stated that there were cash incentives to the dealer...was this an incorrect statement. it is important to know so I know how to negotiate my deal....thanks
No, there are cash incentives which only apply to cash purchases. Lease and finance incentives are in the form of a special rate.
I'm not sure why it matters how they are making their money. If you like the deal and they are willing to sell it to you for that amount, do business. Don't worry about where their profit is coming from.
I was told by 2 dealers that the residual was 55% on an 09 C2S coupe with 10K per year
"Hi glbmw. Dealers that have certificates available can offer the following terms. Porsche's current buy rate lease money factor and residual value for a 36 month lease of a 2009 911 C2 Coupe with 10,000 miles per year are .00146 and 58%, respectively. The numbers for an otherwise identical lease of an '09 911 C2 Coupe S are .00146 and 56%. The numbers for an '09 911 C4 Coupe are .00146 and 56%."
Would greatly apprecieate advice on negotiating a lease on a basic '09 Carrera coupe manual (MSRP range 79,450-82,000). I live in California and the state tax is ~9.25%
1) It seems that from the forum that the best Money Factor is .00146 on a 3 year lease, does that hold true for 15K miles/year lease as well?
2) I've heard that this special low rease rate will run through the end of May'09 and it will change for June, either up or down
3) What is the residual percentage for a 3 year 15 K miles/year lease, and through the same source, I heard the residual percentage may go down for the worse after May, any truth in that
4) How much off MSRP can I realistically get in this economy, is 15% too much for an '09 Carrera Coupe basic model, or is 10% more realistic, one dealership gave 8% off MSRP without too much haggling
5) I won't need the car till later in the summer, but do you think its worth putting a deposit by the end of May (capitalize on the low money factor), and have the dealership let me pick up the car end of June which would be the start of the lease. Will a dealership let me do that and have the car sit on their lot for a month before triggerring the lease just with a deposit?
Greatly appreciate all your advice.
-MGHBolt
I looking at a 2009 Targa 4s and appreciate your guidance on uterms to expect on this model. I understand you mentioned the current buy rate for leases on 911s is 0.00146. I assume this also applies to the Targa, but appreciate if you could confirm. Could you also advise what the residual percentages are on a 36 and 48 mos. lease for this car based on 10/12K miles? Need also your input on discounts to MSRP and other incentives to reasonably expect on this model. Thanks for all the help.
Regards,
MK-
Specifically, are there any current incentives to dealers for a purchase of a C2 or a C2S?
Thanks
Car_man
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Car_man
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Unfortunately, I am not aware of a resource that provides accurate information on banks' current lease programs to the general public.
Car_man
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The mileage allowance that you choose will not have any impact upon your car's money factor.
Porsche's current lease program is scheduled to run through June 1st. It is difficult to say what its June program will be like at this point.
Porsche Credit's current 36 month, 15,000 mile per year residual value for a 36 month lease of a 2009 911 C2 Coupe with a manual transmission is 55%.
I am not personally familiar with what sort of selling prices consumers have been able to negotiate on this car lately, but you might be able to get an idea by stopping by the "Porsche 911 Carrera Prices Paid and Buying Experience" discussion.
I don't believe that you will be able to lock in Porsche's current lease program by putting a deposit down on the car that you want in May. Usually, the program that is available on the delivery date is the one that has to be used to calculate your monthly payment.
Car_man
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For feedback on this car's pricing, try stopping by the "Porsche 911 Carrera Prices Paid and Buying Experience" discussion.
Car_man
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Unfortunately, I am not personally all that familiar with what the market is like for 911s right now.
Car_man
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Seems like a good deal if you are tempted to acquire a 911.
Unfortunately for Porsche it seems most people, including probably myself, are concluding that their current car they own now is just fine for a while. In my case it is a BMW 745i, so the 911 deal while very tempting to me, may just fall into the "possibly want", definitely "don't need" category.
Either the price has to get even better (which it very well may) or I have to get more passionate about buying another 911.
I live in Los Angeles area and you guys know the market here. Thanks.
I just took delivery on a 09 C2. 3500 cap reduction, lease payment 1059 (total) for 36 mo @10k miles a year. MSRP was 88k, sale price 80k. Felt like I got an okay deal... did get exactly what I wanted with options/color. They did a search and found 7 911s close to what I wanted in the southeast.
09 C2 manual /arctic silver
black adaptive sport seats (AWESOME option)- heated
sport chrono, 19" CS wheels
bluetooth/ipod/bose high end/satellite radio
Definitely look at how much you are spending over the life of lease (cap+payments)... easy to get excited about 825/mo, but read the fine print.
Good luck!
Porsche has come dealer cash incentives floating around out there, but none that I am aware of that are available on leases.
Car_man
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