Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Did you get a great deal? Let us know in the Values & Prices Paid section!
Meet your fellow owners in our Owners Clubs

Car Buying Advice - what is the best deal leasing a 2017 Porsche Cayenne Platinum edition.

sknum_55sknum_55 Posts: 7
edited April 2017 in Porsche
I want to lease a 2017 Cayenne platinum edition. The dealer offers:
Money Factor : 0.0002
discount: 8%
terms: 36months
Mileage: 12,000/yr
down payment; $0
monthly payment:$1,080.34
free prepaid 2yrs maintenance program
MSRP $77,630

Is this a good deal?

thank you in advance.

Comments

  • kyfdxkyfdx Posts: 130,503
    sknum_55 said:

    I want to lease a 2017 Cayenne platinum edition. The dealer offers:
    Money Factor : 0.0002
    discount: 8%
    terms: 36months
    Mileage: 12,000/yr
    down payment; $0
    monthly payment:$1,080.34
    free prepaid 2yrs maintenance program
    MSRP $77,630

    Is this a good deal?

    thank you in advance.

    We don't have any Porsche lease numbers, but I'll guess that money factor is .0020, not .0002

    Did they give you a selling price or CAP cost?
    How about the residual percentage or dollar amount?
    How much is due at signing?
    Does that include tax? If so, what is your state and tax rate?

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • sknum_55sknum_55 Posts: 7
    Yes the money factor is .002
    selling price: $71,420
    fees: $256
    tax (6% PA): $4,285.20
    net sale price: $75,961.20
    residual %: n/a (will ask)

    Tax already included in the monthly payment and it's $1,080.34 due at signing.




  • kyfdxkyfdx Posts: 130,503
    sknum_55 said:

    Yes the money factor is .002
    selling price: $71,420
    fees: $256
    tax (6% PA): $4,285.20
    net sale price: $75,961.20
    residual %: n/a (will ask)

    Tax already included in the monthly payment and it's $1,080.34 due at signing.




    Forget that tax number. And, by extension, the net sale price. Neither is accurate for the lease.
    PA taxes the monthly payment, and it's 3% higher than your local rate (so, 9%)

    Let's assume the fee total is $1300, including the ones you listed and the acquisition fee.
    $71420+$1300 = $72,720 adjusted CAP.
    Your pretax payment is $991.14 (+9% tax)

    At 59% residual, I get $985/mo.+tax
    At 58% residual, I get $1005/mo.+tax

    If my estimated adjusted CAP was correct (of course, it isn't, it's estimated), then the numbers would match up exactly with one of those residual percentages.

    Of course, if the residual is a lot higher than that, then they are padding the payment, somewhere.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • sknum_55sknum_55 Posts: 7
    kyfdx,

    let's assume that your estimate (59% residual, $985/mo.+tax) is correct. Is this a good deal? i am not sure if 8% discount is good enough for this model as they will introduce the all new Cayenne by the end of this year. what about the money factor? is it something that can I negotiate or not? However, I will contact the dealer and ask for more details on the tax and fees.

    thank you.
  • MichaellMichaell ColoradoPosts: 124,224
    sknum_55 said:

    kyfdx,

    let's assume that your estimate (59% residual, $985/mo.+tax) is correct. Is this a good deal? i am not sure if 8% discount is good enough for this model as they will introduce the all new Cayenne by the end of this year. what about the money factor? is it something that can I negotiate or not? However, I will contact the dealer and ask for more details on the tax and fees.

    thank you.

    The .00200 is the standard Porsche rate; to our knowledge, no way to bring it down.

    We don't track pricing - use the 'make / model / year' pull downs at the top of the page to link to the price tools.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • sknum_55sknum_55 Posts: 7
    here is the update numbers from the dealer.

    MSRP $77,630
    saving: $6,210 (8%)
    tax: 9%
    cap cost:$72,415 ($71,420+995 acquisition fee)
    money factor is .002
    terms: 36months
    Mileage: 12,000/yr
    down payment: $0
    monthly payment:$1,080.34 (tax and acquisition fee, doc fee included)
    residual value: 63% or $46,746
    free prepaid 2yrs maintenance program included
    Amount due at signing: $0


    Can anyone tell me if this a good deal for 2017 Cayenne platinum edition?

    thank you in advance.
  • kyfdxkyfdx Posts: 130,503
    sknum_55 said:

    here is the update numbers from the dealer.

    MSRP $77,630
    saving: $6,210 (8%)
    tax: 9%
    cap cost:$72,415 ($71,420+995 acquisition fee)
    money factor is .002
    terms: 36months
    Mileage: 12,000/yr
    down payment: $0
    monthly payment:$1,080.34 (tax and acquisition fee, doc fee included)
    residual value: 63% or $46,746
    free prepaid 2yrs maintenance program included
    Amount due at signing: $0


    Can anyone tell me if this a good deal for 2017 Cayenne platinum edition?

    thank you in advance.

    63% of $77,630 is $48,906.90, not $46,746.
    To get that residual with 63%, the MSRP would have to be $74,200.
    If their MSRP, CAP cost and residual percentage were correct, the payment would be about $975, including 9% tax.

    So, we can't check their numbers, if the basic variables they give you are incorrect.

    One thing to check. On a new car, the residual is always an exact full percentage of the MSRP. No fractions.

    Possibilities? Maybe one or more of these:

    1) The residual isn't 63% (though I think it might be)
    2) $77,630 is not the actual MSRP (substituted a different vehicle?)
    3) You aren't getting 8% off
    4) Maybe a demo model with extra mileage? (lowering the residual)

    Ask them to reconcile that residual amount with the MSRP and residual percentage. That math is as simple as it gets, and is at the root of why their payment is far off.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • sknum_55sknum_55 Posts: 7
    This is the explanation I get from the dealer: 

    "The residual is 63% of MSRP in most leases. Because Porsche has such a vast array of options, Porsche limits the residualized MSRP of their leases. This is called MRM (Maximum Residualized MSRP).

    In the case of the Cayenne Platinum, the maximum allowed MSRP to be residualized is $74200 (This is a number Porsche generates. We have no say in the figure). Porsche’s residual calculation is $46746 at the end of this lease."

    So, if what they explain is true, do you still think that it's a good deal or not?

  • sknum_55sknum_55 Posts: 7
    If anyone is getting a better deal or more discounts than 8%, please share. Thank you.
  • kyfdxkyfdx Posts: 130,503
    sknum_55 said:

    This is the explanation I get from the dealer: 

    "The residual is 63% of MSRP in most leases. Because Porsche has such a vast array of options, Porsche limits the residualized MSRP of their leases. This is called MRM (Maximum Residualized MSRP).

    In the case of the Cayenne Platinum, the maximum allowed MSRP to be residualized is $74200 (This is a number Porsche generates. We have no say in the figure). Porsche’s residual calculation is $46746 at the end of this lease."

    So, if what they explain is true, do you still think that it's a good deal or not?

    Well, that's true, and that sucks.
    Man... I'd want a model that didn't sticker for more than $74,200!

    Anyway, using these numbers--
    $77630 MSRP
    $72415 CAP
    $46746 residual (I substituted 60.217% to get to that number)

    $951.34/mo.+tax
    $1036.96 total.

    $43/mo. off their quote.
    Now, they can explain where the other $1500 is coming from. lol
    I'll guess doc/dmv fees, etc, etc.. are they charging you for that maintenance plan?

    Really, the only explanation left is that $72,415 isn't really the adjusted CAP cost. That there is something else added in there.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • sknum_55sknum_55 Posts: 7
    They say the 2 yrs prepaid maintenance program is free. So, I guess there is something else they forget to tell me about. I'll ask them again. Thanks 
  • kyfdxkyfdx Posts: 130,503
    sknum_55 said:

    They say the 2 yrs prepaid maintenance program is free. So, I guess there is something else they forget to tell me about. I'll ask them again. Thanks 

    I will say.. they seem pretty forthcoming with answers. It would be nice if they would just lay it all out, so you don't have to keep asking.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

Sign In or Register to comment.