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Porsche Panamera Lease Questions

24

Comments

  • zheckszhecks Posts: 36
    Porsche is having a promotion on Panamera. I got 8% off from MSRP. Check if the Conquest program is still on. If you currently have a lease with another competitor luxury brand, you can get up to another $3500 off. I got 8% +$2500 conquest => 10.5% off. Not a bad deal at all. Of course, you have to negotiate hard to get your 8%. Some dealers only gave 5-6%.
  • gittledoggittledog Posts: 4
    Thanks for the info.
  • monacobmwmonacobmw Posts: 8
    I am presenting the most current information that I have. Until July 2, 2012, the base model carried a .00200 rate, but all of the other models carried a .00120 rate.
    The residuals are all over the place.
    For the base model with 12k, it had a 58% residual. The hybrid was 54%.
    These are all for 2012 models. The 2013 models are unknown, but we should figure things out tomorrow (July 3) when the new rates appear.

    You have to watch out for the money factors. I live in South Florida, and some dealers like The Collection (Miami) and Champion (Pompano) try to cheat customer by adding an extra 40 points to the rates. Thus, they quote the .00120 rate as .00160. This is flat-out deception, and only those who know how leases work would be able to call them out. If you want to know what this type of cheating means, on a $90k Panny, the deceptive money factor quote adds around $3k to the price. As far as I know, the other dealers in Florida don't do this.

    Let me sum up leasing in a few words. Once you negotiate the purchase price of the car (yes, you have to do this even for a lease), you are effectively paying for your "use" of the car, which is the difference between the purchase price and what the car is still worth when you are done (the "residual"). Plus, you have to pay the bank a finance charge to "borrow" the value of the car for the terms of the lease. When you are driving a $100k car, you are effectively borrowing the $100k for the term of the lease.
    When you add your cost for the "use" of the car plus the finance charge to borrow the price of the car until you give it back, you get your lease charge. Spread this over the term of the lease, and you get your monthly payment.

    I hope that this is helpful for everyone.
  • lexusjglexusjg Posts: 3
    edited July 2012
    CAR MAN,

    Any idea if the Money factors and/or residiual changed for July?

    I am looking for the MF and resifual for 10k or 12k miles per year/ 36 month lease for a base 2012 Panamera with the V-6 engine? Car is approx $82,600.

    Thanks for the help.
  • lexusjglexusjg Posts: 3
    Jul 05, 2012 (11:06 am)
    CAR MAN,

    Any idea if the Money factors and/or residiual changed for July?

    I am looking for the MF and resifual for 10k or 12k miles per year/ 36 month lease for a base 2012 Panamera with the V-6 engine? Car is approx $82,600.

    Oh I forgot to ask, any incentives still out there like the guy above mentioned...

    Thanks for the help.
  • rwinston2rwinston2 Posts: 5
    I think that the 2012 rates stayed the same.
    The base model would be .00200 MF and 58% residual (12k).

    I have heard that the residuals for 2013 are about 2% lower for most models.

    I believe the 2013 money factor is the same for the 2013 base, but the MF may have risen from .00120 to .00200 for all of the other models.

    Any confirmations out there on the rates for the Panemera?
  • gittledoggittledog Posts: 4
    CarMan, I just got quoted $1325 incl. taxes per month on an 85k stickered 2012 Panamera V6. Top tier credit. Is this a good deal or am I getting screwed. Thanks
  • gittledog,

    I have been tracking this post and made a comment earlier. I just leased a 2012 Panamera 4S and paying $1538/month. The out the door price was $102,500. I put $8,000 down. It came to $1,450/month - 12K miles/yr, but I added a warranty package that covered wheels, windshield dings, door dings. After that it came to $1,538.

    Sounds like you are looking at a regular V6 Panny. No money down on a 4S would have been $1,750 month. There seems to be a $200-$300 interval between Panny models when you lease them.

    Just my 2 cents...I may be wrong in my assumption. I'm not an expert here
  • rwinston2rwinston2 Posts: 5
    In response to the $1325 per month quote on the 2012 V6, we need to know a lot of information to determine if it is good.
    I assume that this is a 36 month lease.
    The next question is whether it is 10k, 12k, or 15k miles.
    You have to consider an $895 lease acquisition fee and the typical "dealer" fee.

    It is important to remember that the final payment is the "result" of many factors. When dealer asks you "what do you want to pay," they are banking on your lack of leasing knowledge to build in hidden profit. If you ask me if $1325 per month on a 3 year, 12k per year lease is high for a car of MSRP of $85k, I would say definitely yes. The dealer is charging you something around MSRP for the car, and they are likely building in a higher money factor to make more profit.

    If you learn how a lease works, you can save thousands of dollars.

    If you don't have time to figure this out, then you should be negotiating the purchase price of the car as if you are buying it. Then ask the dealer to insert this purchase information into the computer without doing any mark-ups on the "money factor." You should be able to get 90% of the way there if the dealer uses a true purchase price and does not mark up the money factor.
  • fallmanfallman Posts: 9
    Just wanted to know if the Conquest program is still available for Panamera 2012 or 2013. Could not find any information on the Web. Also, what type of discounts are people getting on 2012, with 2013 just on the way. Thanks.
  • Circle Porsche in Long Beach, Ca is offering thsi deal. Sounds better than some of the ones you guys are mentioning.

    Monthly payment is $899 + tax. 36 month lease on approved credit through Porsche Financial Services. $0.30 per mile penalty over 10,000 miles per year. $5,000 cap reduction, 1st payment, acquisition fees, and 1st year DMV fees due at delivery. No security deposit required. Stock #80329
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes, fallman, the conquest program is indeed still available on the Panamera.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • fallmanfallman Posts: 9
    Thanks. My local dealership told me that it only applies if you are currently "leasing" another luxury brand and not if you own one. Is that true?
  • zheckszhecks Posts: 36
    Yes, you must be "leasing" another luxury brand currently (with at least 3 months remaining in the lease) in order to qualify for the Conquest program.

    I just took advantage of the program with my recent lease.
  • Thanks Crimat!
  • Hey fallman. I know that the incentive is meant to make the remaining payments for consumers who are currently leasing, and possibly financing a competitive vehicle, so what you were told makes sense.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • kerbkerb Posts: 88
    Greetings Car_Man:

    Could you kindly provide me with the buy rate and residual for a base Panamera on 24 & 36 month terms with 7,500, 10,000 and 12,000 miles.

    Many Thanks.
  • Hey kerb. Porsche Financial Services' September buy rate lease money factor and residual value for a 24-month lease of a 2013 base Panamera with 12,000 miles per year are .00200 and 62%, respectively for consumers who qualify for its top credit tier.

    The residual value for a lease with 12,000 miles per year would be 1% higher. The 7,500 residual value would be 2% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • kerbkerb Posts: 88
    Thx. Again Car Man, could you provide the 36 month figures as well.

    Best Regards
  • kerbkerb Posts: 88
    edited October 2012
    One additional question - Car_Man:

    Is the Conquest program still active on the Panamera? If so, when does it end?

    Thanks Again.
  • Sure kerb. Porsche Financial Services' September buy rate lease money factor and residual value for a 36-month lease of a 2013 base Panamera with 12,000 miles per year are .00200 and 56%, respectively for consumers who qualify for its top credit tier.

    The conquest cash is indeed still available. It's scheduled to run through the end of the year, but I wouldn't be surprised in the least if it was extended past that.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • kerbkerb Posts: 88
    Thanks Again!
  • rravinrravin Posts: 27
    Hi Car Man. Can you tell me what the October MF is on the base panamera is. Also, the residual value for 24mo,36mo at 10k,12k, 15k miles per year. Lastly, How much price reduction for the Conquest Program? Any incentive if you are currently leasing a Porsche. Does the conquest program apply or is there another loyalty program that applies?
    rravinmd
  • You're very welcome kerb.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited October 2012
    Hi rravin. Porsche Financial Services' October buy rate lease money factor and residual value for a 24-month lease of a 2013 Panamera Base with 15,000 miles per year are .00200 and 60% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00200 and 56%.

    The residual values are 2% higher for leases with 12,000 miles per year and 3% higher for leases with 10,000 miles per year.

    The last time I looked into the conquest program, Porsche was paying up to three remaining payments for current owners of select brands.

    There isn't any loyalty cash on this model that I am aware of.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • This is helpful. Do you happen to know Porsche Financial Services' November buy rate lease money factor and residual value?

    Also looking at a Panamera 4 and wondering if there is any real difference between the 2012 and 2013 models?

    Thanks.
  • Hi Car Man,

    Can you post November residual & MF for a 2013 Panamera GTS. 36 month / 10k Miles.

    Thanks!
  • nsx2nsx2 Posts: 1
    Hi Car Man,

    Can you post November residual & MF for a 2013 Panamera 4S. 36 month and 12K Miles.

    Also for the GTS 12K miles.

    Thanks!!!
  • kerbkerb Posts: 88
    edited December 2012
    Greetings CarMan:

    Could you kindly post the December Buy Rate and Residual for a 36/10 and 36/12 Pani Platinum Ed. Additionally, is the Conquest Program still active.

    Thanks Again
  • kerbkerb Posts: 88
    Greetings CarMan:

    As I may be taking delivery of my car prior to the end of this week, could you kindly post the December Buy Rate and Residual for a 36/10 and 36/12 Pani Platinum Ed. Additionally, is the Conquest Program still active, if so, is a Mini a qualifying vehicle.

    Thanks Again
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