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Porsche Cayman Lease Questions

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  • hpowdershpowders Posts: 4,269
    Hello Car_Man.

    Is the 0.00146 money factor available on Boxster leases too or just Caymans?

    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm glad that you post helped you out, 9squaregrid. Congratulations on getting your new Cayman. Thanks for taking the time to give back by sharing the details of your lease with everyone. If you haven't already, make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well.

    Enjoy your new ride :shades: !

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey hpowders. The special money factor is indeed available on Boxsters too.

    Car_man
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  • hpowdershpowders Posts: 4,269
    Thanks Car_Man! :)
  • beaubbeaub Posts: 1
    Hi Car Man,

    Thank you for your very informative posts. I'm looking to lease a new Porsche Cayman with a deal similar to 9squaregrid's. The dealership i'm in negotiations with is giving me the .00146 mf and the car is approx. $58k, i'm trying to get the cap cost lowered to invoice but the guy keeps telling me "porsche doesn't go into invoice territory". What should I do to get him to drop the price down to $50-51k? Should I try another dealer? I need to get a new car by friday, saturday at the latest.

    Thanks CarMan
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem hpowders.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, beaub. It's good that the dealer that you're working with is giving you the base money factor. If they aren't willing to go as low as you would like on the car's selling price, you can always comparison shop with a few other dealers. Pitting dealers against each other is always a good technique for getting a low price.

    Car_man
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  • nyubxtrnyubxtr Posts: 5
    That's a great deal! I am looking for the Cayman as well. What dealership did you get the deal from? or what city did you get it from? I would love to get the same deal from Southern California dealerships.
  • Just took delivery 3 days ago on a 2009 Cayman, well optioned, 15K miles per year, 36 months, ZERO $ down except first payment. $725.00 month. Car is fantastic. Well worth the price and Porsche dealer was way more comptetive in pricing my lease than the BMW dealer on a 2009 135.
  • is 725 including tax?
    what was the msrp on the car?
  • Great deal you got, 9square. Here's the offer I received for a '09 Cayman S PDK:

    MSRP - 67,480
    Cap Cost - 63,000 (6.6% discount)
    Residual - 35,089 (52%)
    MF - 0.00146
    Months - 36
    Miles/yr - 15,000

    Payment - $1,025/month

    Any comments?
    Thanks.
  • Great deal 9square !
    which dealership did you use ?
  • Autobahn Porsche in Ft Worth Texas
  • Can you please tell me what experian credit score Porsche finance considers tier 1?
  • dwpcdwpc Posts: 159
    Hi Carman:

    I thought I'd get a bargain by leasing a pre-owned 06 Cayman S. The
    Porsche dealer's quote for a 36 mo. 12K/yr lease was:
    Price $41.5K
    Cash Down $7.5K
    MF .00350
    48% residual (on price)
    "bank fee" of $895
    Pmt: $670+ tax

    Not good. Looks like they really don't want to lease pre-owned cars. 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? It looks like I'll have to forget this as a bargain.

    (i inadvertently posted this on the 911 forum too.)
  • Hi dwpc. the problem with leasing CPO vehicles is that manufacturers usually provide much more support on new vehicle leases than they do on used. As a result, as you have seen there is often not much difference in payment between leasing a used vehicle and an equivalent brand new one.

    From the manufacturer's perspective this makes sense, they earn a profit every time they sell a brand new vehicle but there's very little benefit to them if a consumer leases a used vehicle other than perhaps stronger resale values and a fee for certifying the car / truck.

    If I was in the market for a Cayman, I personally would go new over used.

    Car_man
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  • Does anyone know if the promotional leasing terms that 9square got is still available right now for the '09 or '10 Caymans?
  • Hi ychang77. Porsche has pulled the plug on its lease support for 2009 models. At the beginning of the year it paid out dealers five grand for any remaining '09 Caymans that they had left in stock and it was done with them.

    PFS is providing a special .00183 money factor on 2010 Caymans right now through.

    Car_man
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  • johnzeejohnzee Posts: 9
    I came across the Porsche Cayman Lease offer. I called two dealers one in Salt Lake City and the other in Las Vegas, BTW I assume no S becasue it is $85K:

    MSRP $47965
    Money Factor - 0.00186
    Mileage - 12K/year
    Residual - 50%
    Cap Reduction - 3000
    Porsche offers the lease payment offer of- $529/month.

    But I am not able to calculate this payment unless I put about $7500 down, Which sounds ridiculous to me. Does anyone know what the details of this lease offer really means.
  • I had a Porsche Lease and it WAS the BIGGEST NIGHTMARE I've ever had.
    I'll Never a Porsche again.
    Porche leasing:
    1. NEVER returns calls
    2. NEVER honors the contract commitment
    I HAD to get a lawyer...
    THEN they went after my credit
    SCUMBAGS! all the way
  • topgun7topgun7 Posts: 409
    2. NEVER honors the contract commitment

    What exactly did they not honor? In a lease document, they specify the payment term and the lease term.. There is normally nothing else that Porsche lease company should handle. Anything relate to the car is promised and fullfilled by the dealer.. Tell us some more about your problem..
  • hmmm,
    Not sure if your a leasor or just curious,

    The issue is it was an OPEN ended lease. I paid an extra 50 for it this privilege, which was stated on page 8 of the contract.
    The car was 2 yrs old at the time (a 996).
    I also put it through my Company, as I'm the owner.
    After 3 accidents (and only 3 on 25 years), I decided either the car was going to kill me or I had to let it go.
    SO, I voluntarily let it go with 15 months left on a 39 mo lease and signed paperwork to this effect.
    No Issues right WRONG.

    Porsche lesing never contact me, just hit up my credit.... all 3 of them...
    2 lawyers both stated,
    yes the lease is open ended, but... with the language in there, Porsche leasing could tie it up in court arguing points, both wanted $5,000 to enter court representing my company to fight the Outstanding balance of 17,000.
    How wonderful.
    Getting screwed on 2 fronts.

    The sticky point they both made was I'm NOT an indidivual, but a CO, so I have NO rights.
    Which Porsche leasgin was fully aware of and an I've proven i WAS NOT.

    At this point, I waited 7 yrs, disputed and its off transunion and experian.

    But equifax, in their infinitely limited capacity do not understand their own 7 yr rule and I'm still fighting to get it removed.....
    No Judgement, liens from Porsche leasing which of course tells u all u need to know...

    that make my point on "Honor" clearer??
    This makes them liars, thiefs
    Lesson -
  • tarten36tarten36 Posts: 1
    edited June 2010
    Hello Carman,

    First off thanks for all of the great information that you provide on this forum. I have read and learned a lot. Could you please proved June residual values and money factors for a 36 month lease for 12k and 15k miles per year on both the Cayman and Cayman S models. Thanks for your help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, tarten36. Thank you for the thank you :). Here's the information that you're looking for.

    Porsche Financial Services' June buy rate lease money factor and residual value for a 36 month lease of a base 2010 Cayman with 15,000 miles per year are .00118 and 53%, respectively.

    The money factor for the Cayman S is exactly the same, but its residual value is 52%.

    The residual value for leases with only 12,000 miles per year are 2% higher.

    When negotiating your deal, make sure to take advantage of the $2,000 cash incentive that Porsche is currently providing on leases of this model.

    Car_man
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  • rravinrravin Posts: 27
    Hi Car man, Although I have used Edmunds.com in the past I just discovered this forum yesterday. Thank you for all the good info you supply. Could you please tell me what the July 2010 lease rates(mf, residual, other appropriate fees) are through Porsche Financial Services for the 2010 Cayman and Cayman S. Looking for 36mo, 10k or 12K. Any cash incentives from Porsche that you know of? Thanks for your help. PS I live in Los Angeles and should qualify for tier 1 credit.
  • dwynnedwynne Posts: 4,018
    Cayman S 36 mo / 10k residual is 55% with a manual and drops a point or 2 if you get the PDK. The MF is 0.00118 .

    I didn't get the Cayman numbers from the dealer, but you can figure them out from the offer on the Porsche web page. $59,465 MSRP + $33,300.40 purchase price at lease end = 56% for a 10k per year lease. Plug this info plus the net cap and payment into a lease calc and solve for MF = 0.00118, same as the S.

    The dealer I talked to and Edmunds both say so money to go with the lease deals. Once the 2011 cars roll in the lease deals on the 2010 cars will likely go away and move the the newer models - but money may show up to help move the 2010 leftovers.

    BMW lease numbers, for example, feature a much higher residual but also a higher MF.

    If they lease you a car they have to sell it twice - once the first time and once again when you return it. So they want to have good lease deals to move cars, but if they make them too good they have to eat a lot of money in 3 years. I always thought Porsche had a strong resale value, but that is not really the case and is reflected in their own and 3rd party lease residuals.
  • rravinrravin Posts: 27
    Hi car man, do you know what the mf and residual will be in August for the cayman and cayman S. I'm looking for 36mo and 12k. Tier 1 credit. Thanks for your help
  • dwynnedwynne Posts: 4,018
    The current deals do not end until today (on 2010 cars). The new numbers are not out yet, from what I have heard. Many dealers have 2011 cars on the ground now, and can't lease them due to the high (6% or so) lease rates on them. The promo money (such as it is) went to left over 2010 cars for July. Will PFS keep promo money on the 2010 models? Discount them with dealer cash and let the dealers try to sell them? Offer promo lease rates on the 2011? Don't know, but if you found a 2010 Cayman you like you COULD get it today and the current promo rates which are not that bad.
  • dwynnedwynne Posts: 4,018
    The Cayman lease numbers for August carried over the same as July.

    For 2010 models: 0.00118 and 56% on Cayman for 10k with manual, drops to 55% with PDK, drops 1-2% for 12k miles. S is sane MF and 1% lower than the Cayman residual.

    2011 is the same as last month as well: 0.00250 MF on both and the same residuals as the 2010 cars.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome rravin. Here's the latest information for you.

    Porsche Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 Cayman with 12,000 miles per year are .00118 and 55%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2010 Cayman S are .00118 and 54%.

    If you were to lease either of these cars with only 10,000 miles per year their residual values would be 1% higher.

    I've heard that Porsche is providing a $2,000 cash incentive on leases of this car.

    Car_man
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