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Porsche Cayenne Lease Questions

CarMan@Edmunds[email protected] Posts: 38,515
edited May 2015 in Porsche
For current leasing information, go to 2015 Porsche Cayenne Lease Questions




Hi everyone. Please use the following discussion to post any questions that you have about leasing a Porsche Cayenne. Thanks.

Car_man
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Comments

  • Hi, car_man, I an trying to lease a Cayenne 36 mo/12,000mi. MSRP is 53,000. I don't know their money factor, or the residual in September. What is a fair lease price? Are the deals better on Cayenne S MSRP 67,000 ? Thanks.
  • Hi alex15. If you were to lease a 2005 Porsche Cayenne S through Porsche Credit right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00270 and 56%, respectively. I am not sure what the market is like for this truck right now, but you may be able to get a good idea of how much you should pay for one right now by visiting the following discussion: "Porsche Cayenne: Prices Paid & Buying Experiences". Once you know what you want to pay for this truck, stop back and provide me with an approximate selling price and its full MSRP (including the destination charge) and I can calculate a sample lease payment for you.

    Car_man
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  • dl7265dl7265 Posts: 1,381
    The same rates on the V6 ? I thought the residual would be higher...

    DL
  • Caraman,

    I have negotiated a Cayenne! 05/ V6 / Titanium Metalic/ Black inside MSRP $49.680 Price negotiated at $42.782

    What will the lease numbers look like for a 30 or a 36 month lease with 12,000 miles/year. Thanks in advance.
  • Hi Car man

    Can you please provide me with the residual values for 24 months 10k,12k,15k miles p/y ?
    Also, what is the actual Bank Fee?

    Thanks
  • Ddl7265, the residual value for a 36 month lease of a 2005 Porsche Cayenne V6 through Porsche Credit is actually 2% lower than the residual value for the '05 Cayenne S.

    Car_man
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  • Hello icechunk. Let's work up a lease payment for you and see what we come up with. According to my calculations, if you were to lease a 2006 Porsche Cayenne V6 with an MSRP of $49,680 and a selling price of $42,782 through Porsche Credit right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $632. I have not seen the numbers for a 30 month lease of this truck through Porsche Credit.

    Car_man
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  • Hi sjl225. If you were to lease a 2006 Porsche Cayenne S through Porsche Credit right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be a whopping .00405 and 58%, respectively. Its 12,000 miles per year residual value would be 2% higher and its 10,000 miles per year residual value would be 3% higher. The last time that I saw it, Porsche Credit's lease acquisition fee was $745.

    Car_man
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  • Car Man...
    The MSRP on the new '05 Cayenne is about 54.8. The selling price would be 48 not including tax, titles, etc... My monthly payment would be 661. If I can get the TTL included it would be 640 on a 5 year lease. The base price is about 44 (its full of gadets).
    Does that sound like a good deal? 5 years is seems like a long time. Should I wait until December to buy? I understand that's when you can get a really good deal. Or, does this sound pretty good. I could use a little imput.
    Thanks for any info you can provide
  • Greetings valerie3. Five years is way too long to lease a vehicle for. A lot can happen over the course of five years to make you want to get out of your lease early - and this is usually a very expensive thing to do. For instance, you could get fed up with spending big bucks to feed your Cayenne at the pump. Or your commute could change, causing you to put way more miles on your Cayenne than you had intended and to have to pay a large excess mileage penalty. Four years is the longest lease that I advise anyone to enter into and a 36 to 39 month lease is a much more reasonable term. Let's calculate a sample 36 month lease payment on the truck that you are considering and see what its payment is like. According to my calculations, if you were to lease a 2005 Porsche Cayenne S with an MSRP of $54,800 and a selling price of $48,000 through Porsche Credit right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $694.

    As far as waiting goes, if you wait until December you may have a hard time finding a 2005 Cayenne to lease. I have heard that there aren't that many 2005 models left on dealer lots. When negotiating your lease on this Cayenne, keep in mind that dealers will be anxious to unload their remaining 2005 models and that in August Porsche paid its dealers just over $3,000 per truck to convert most of their remaining Cayennes into demo vehicles. As a result, there is a good chance that you can get the Cayenne that you are considering for less than dealer invoice.

    Car_man
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  • Car-man, Car-man, how you know all of this stuff I'll never know!!!! I am impressed. I'm truly stressing over all of the info and wanting a good deal. I'm going to put on my game face and see what happens. I'll keep you updated.
    Thank you very much
  • :blush: Thanks valerie3. I am glad that I was able to help you out. Good luck and let us know what happens.

    Car_man
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  • Car man,

    When do you expect the Cayenne 2007 to be ordered from dealers? Any idea on the pricing for the big engine? I've heard the new S is for 'souped up'...lol..500hp? Also, i'm considering a 24 month 25000/year lease with TechArt modification. For a $100,000 vehicle, what would your current leasing offers be for $5000 down? And how does after market modification affect the leasing rate?

    Thanks!

    Mr_nomad2007
  • wesamwesam Posts: 13
    Car_man,

    Could I please have the current money factor and residuals for a 2006 Cayenne S on a 36 month lease with either 12k or 15k a year. Also, what other costs are charged by Porsche? I live in Wisconsin if that matters.

    Thanks,

    Wesam
  • Hi mr_nomad2007. This specific discussion is about leasing. I would be happy to answer any questions that you have on that subject, but you need to stop by the following discussion for answers to questions about the release of the '07 model and pricing: "Porsche Cayenne".

    You never mentioned the selling price or MSRP of the Cayenne that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the truck that you are interested in for you if you let me know what these numbers are.

    Car_man
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  • Greetings Wesam. If you were to lease a 2006 Porsche Cayenne S through Porsche Credit right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00280 and 57%, respectively. Its 12,000 miles per year residual value would be 2% higher. If you were to lease this truck through Porsche Credit, at lease signing you would have to pay its first month's payment, a security deposit equivalent to that payment rounded up to the nearest $50 increment, its $745 acquisition fee, and any required state taxes or fees. Some of these items can be rolled into your vehicle's capitalized cost if you want.

    Car_man
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  • Car_man,

    I want to either purchase or lease a 2006 Cayenne, 6 speed manual that with add-on's has a MSRP of $50, 235. The dealer told me they would honor a %7.0 discount off the MSRP on a sale. Do you think I can get a better price than this? Also what would be a good monthly lease fee/deal with this car?

    Thanks!
  • Hi statman1. A base 2006 Porsche Cayenne with a manual transmission has over a 12% spread between its full MSRP and dealer invoice price. A 7% discount is decent, but there is still some room there. I am not personally all that familiar with what the market is like for this model, but if you find that 7% off is the best that you can do in your area I wouldn't have a problem with this price. Let's work up a lease on this truck and see what your lease payment should be like. According to my calculations, if you were to lease a base 2006 Porsche Cayenne with an MSRP of $50,235 and a selling price of $46,719 (a 7% discount from MSRP) through Porsche Credit right now for 36 months with 15,000 miles per year, its zero down, pre-tax monthly payment should be around $709.

    Car_man
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  • Car_man,

    Thanks for all of the very valuable information you listed in regards to my question/lease. It's wonderful to be able to walk into a dealer armed with knowledge like this!!! Your figures are better than my last attempt with the salesperson, so I believe I will be able to get them to come down a little bit more before signing the lease!

    Thanks again!
  • cfiusacfiusa Posts: 3
    Hi Car_man:

    I am looking to lease a Cayenne Turbo with a MSRP of $106,970, I am interested in a 36/15,000 lease, could you help me work out what kind of numbers I should be looking at? Thanks for your help.

    CFI
  • cfiusacfiusa Posts: 3
    Car_man:

    Zero down, and in the SF bay area, tax rate is 8.5%

    Thanks.

    CFI
  • No problem, statman1. Good luck negotiating your lease and make sure to stop back and let us all know how everything turned out.

    Car_man
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  • Hi cfiusa. You never mentioned the selling price of the Cayenne that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work up a sample lease payment on the truck that you are interested in for you if you let me know what its selling price is. You may be able to get an idea of what price you should pay for it right now by visiting the following discussion: "Porsche Cayenne: Prices Paid & Buying Experiences".

    Car_man
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  • Thanks for your reply, Car_man, the MSRP for the Cayenne Turbo is $104,095, the sale price is $96,607, money factor at .0029, the said there is a MRM which limits the value to 100,100, that brings the residual to 57,057.00, amount due at signing is $4,948.77 which includes the first month payment of 1,622.08, Cap cost reduction is 2377.06, Lic fees is 690.00, tax is $205.88, doc fee is 53.75. This is a 36 month/10K lease. Lease Aquisition fee is $745.00.

    Unfortunately this is a done deal. I just want to know how bad the deal was. I asked for a 15K/year during our negotiation, but after reviewing the lease docs after I got home, it turned out to be a 10K/year lease, I felt I got scammed. The salesman claims that he made a mistake and did not realize the MRM and had to readjust the payment, then the 2nd time after I thought it was a honest mistake they sneak in this 10K/year. It was my mistake for not reading the lease doc carefully. :mad:

    Thanks.

    cfiusa
  • Hi Car_man - just a question about financing - how is the buy rate lease money factor calculated, and is a higher or lower value a better number? (ie. what are it's real-world impacts on the value of the deal?)

    Thank you! :)

    /DA
  • You're welcome, cfiusa. I'm sure that not getting the mileage allowance that you thought you were is very frustrating. If you really need 15,000 miles per year, there is a good chance that you will rack up one heck of an excess mileage penalty by the time your lease is done. Not to rub salt in your wound, but this is why it is extremely important to read your lease contract very carefully before signing. I know that this is tough sometimes because you are excited to get your new car and this can often be a long, tiring process, but it is important.

    All is not lost though because the deal that you were given on this truck is not bad. You were given a decent discount on it (it's amazing what a huge spread between this truck's MSRP and invoice prices) and the dealer that you are working with used Porsche Credit's buy rate lease money factor to calculate your payment.

    Car_man
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  • Hi dandrews1. One cannot calculate what their vehicle's money factor should be. It is published by banks. It is used to calculate the interest portion of your lease payment. As a result, the lower your money factor is , the better. You can convert a money factor into an approximate interest rate equivalent by dividing it by 2400. Porsche Credit's current buy rate lease money factor for 36 month leases is .00290. This is equivalent to an interest rate of around 6.96%. Individual dealers do not have the authority to lower banks' published residual values, but they can mark them up to add additional hidden profit to deals. This is why it is important to know what the buy rate money factor for the vehicle that you are leasing it. Consumers who know what it should be are usually able to convince dealers to calculate their lease payments using it.

    Car_man
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  • wesamwesam Posts: 13
    Car_Man,

    Can you please give me the money factor, and residual on a 2006 V6 (with nav) Cayenne, at 15K a year, for 36 months? Also, how much is the acquisition fee?

    Have you seen March's rates yet? If yes, what are they?

    Thanks,

    Wesam
  • Hey Carman,

    Thanks for helping all of us out. I ordered a Cayenne S from a dealership in CA (who ordered it custom from the factory) and i got a good discount of @ 10% off MSRP. The selling price of the car was $56,800. I have perfect credit, i am planning on doing 3 year and 36k miles. I am also planning on putting down $5k dollars.

    What money factor should i be getting? What is the residual value of the car after the three years? What should my monthly be on these terms?

    Thanks for your help Car Man!!!

    :shades:
  • I have a lease option for the 2006 Cayenne V6, for $999 due at signing, and $569 per month (+ taxes) on a 5 year lease, 12,000 miles. The sale price is $45850+ sales taxes etc. The residual is $21350 based on 12K miles

    Is this a good deal based on your experience?
  • wesamwesam Posts: 13
    rrfan1,

    I'm not Car_man, but I managed to hunt down the information...since, I'm leasing the same type of truck.

    On a 3 year 36k, you're looking at a 59% residual, and a .0029 money factory. So, with 5k down, your pre-tax payment should be $685.64. That's assuming an MSRP of $63,111, and a 10% discount, making it $56,800. The acquisition fee of $745 is also included in that payment.
  • rrfan1rrfan1 Posts: 7
    thanks a lot for your help! i am going to head down to the dealer either this weekend or next... i will let you know if i can get similar rates.

    was this a deal you recently got on your truck at a porsche dealership?
  • rrfan1rrfan1 Posts: 7
    Hey wesam,
    I am in the bay area and just went to see the dealer. My purchase price is actually $57,225 and the dealer was telling me that it looked like they would give me a 3.9% interest rate which i believe is a 0.0039 money factor and a 58% residual value.

    this money factor seems quite high. however, now that i have ordered the car direct from factory, i am not quite sure what it is that i should do. how did you get the 0.0029? that makes $100 difference a month on this truck...

    i appreciate the help
  • Hi - I just got back from the Porsche dealer and here is what I was offered. Base Caynne Auto V6 MSRP $49700, selling price $46200. They want me to do 48 months with 7000.oo down and the montly lease would be $629.21 which includes taxes. The residual amount is said to be $24,850....I am lost.

    I would rather do 36 months with 4000 down...what do you think?

    Thanks for your help.
  • lleecpalleecpa Posts: 35
    Hi Car_man,

    I am thinking either buy or lease a 2006 Cay S in the next 2 weeks. I have picked one with very few option and the MSRP is about $60K. GM has offered $4K off. In term of timing, is it better to purchase/lease end of March vs. mid-April? Any suggestions would be greatly appreciated. Thank you.

    Linda
  • Here you go, Wesam. If you were to lease a 2006 Porsche Cayenne V6 with an automatic transmission through Porsche Credit right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00290 and 57%, respectively. Porsche Credit's base lease acquisition fee is currently $745.

    Car_man
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  • No problem, rrfan1. Let me begin by saying that I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Cayenne would be exactly the same, regardless of whether you had put $5,000 down, or had made absolutely no down payment at all.

    As far as this truck's lease program goes, if you were to lease a 2006 Cayenne S through Porsche Credit right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00290 and 57%, respectively. I would be happy to use these numbers to estimate what your truck's lease payment should be, but in order for me to do so I need you to tell me its full MSRP (including the destination charge).

    Car_man
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  • Hello rekhag1. It would be a big help if you would let us know this truck's full MSRP. This number will show me how much of a discount you are being given and will enable me to use Porsche Credit's current lease program to estimate what your lease payment should be.

    Car_man
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  • Hi Linda. The end of the month is usually the best time to purchase a new vehicle. Dealers usually rend to be willing to cut a little better deal then than in the beginning of the month. As far as this truck's lease program goes, it doesn't really matter when you lease though. Porsche almost never provides lease support on its vehicles and Porsche Credit's current unsupported lease program is currently scheduled to run through the end of April.

    Car_man
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  • Hi all and wondering if this is a good or GREAT deal. Can buy a 06 Turbo Cayenne for 9k off, 6% financing for 5 years. In California dealers are very stingy with the discounts. Any suggestons besides buy a Jeep? Thanks!
  • lleecpalleecpa Posts: 35
    Hi Car_Man - Thank you for the great advice. We plan to buy our Cayenne S on March 31st. The sticker price is $60K and general manager has offered $4K off. There are two other Cay S with 500 miles on them and he offered $7K off (sticker prices @ $63K). These two were used in Women's Tennis tournament. We thought about leasing...since we are purchasing the car under my business...leasing doesn't seem to offer the same tax incentives. I am in San Diego. I am thinking about asking GM to throw in the extended warranty for the car. Any suggestion? We want better deals. Financing has been arranged with my bank. Thank you again for your time.
  • lleecpalleecpa Posts: 35
    You are RIGHT about California dealers are very stingy with discounts. I almost felt a waste a time to ask for few thousands off....Keeping my fingers crossed. We are buying one next week.
  • rrfan1rrfan1 Posts: 7
    i live in California and last week finally got my Cayenne S. i did get a deal (~10% off MSRP) and it didnt seem like much of a haggle. on the lease terms i ended up getting 3% rate and 59% residual on 12k miles and 3 years.

    the car is AWESOME!
  • lleecpalleecpa Posts: 35
    Thank you for the info. We are going to the Porsche dealership Thursday afternoon to negotiate for our Cayenne S. We will be happy with 10% off MSRP. Will report later. :P
  • lleecpalleecpa Posts: 35
    FYI - Thank you for all the great suggestions. We got our car today and very happy. It's an awesome car.
  • dogballsdogballs Posts: 5
    Would you mind sharing the final details of your deal? Specifically percent off MSRP, money factor and residual. I'm in the market to lease a 2006 Cayenne S in the next week and would like to know the kind of deals people are getting. Thanks in advance.
  • lleecpalleecpa Posts: 35
    I bought the car (under my business) since I plan to use the IRS code 179. The one I got, MSRP is around $60K and I got $5K off. I am in San Diego. So out of the door with everything included is around $61K. Dealer charges no junk fees. There are couple others that are around $63K and dealer offer $7K off. It was a very easy and smooth purchase. Dealer took an hour and half to detail my car for delivery. Otherwise, I could have leave with the car in less than an hour. We are very happy and it is a very fast car.
  • british_roverbritish_rover Posts: 8,458
    I had a couple that I talked to yesterday that was interested in a Range Rover Sport and a Cayenne S. They were pretty much jerks the entire time but I try to treat everyone the way I would like to be treated so I showed them around. They are claiming that Porsche is offering them a $70,000 Caynne S 36 month lease with 15,000 miles a year for about 950 a month oh and yeah it is "zero" down.

    A Range Rover Sport with similar equipment has a MSRP of 61,000 or so and leases out closer to 1,200 a month with all taxes in, we roll property and sales tax into our leases, so just under 1,100 a month base. This would be our version of a "zero" down lease with just first month payments and fees up front.

    I got a feeling they are just flat out lying to me cause that is the kind of people they seem to be. Are they yanking me around or is this even doable? The Porsche dealer in my area is pretty stingy so I wouldn't expect more then a 3,000 dollar discount off of the MSRP of a $70,000 Cayenne.

    So if you could run me a rough lease on a 70,000 MSRP Cayenne S with a selling price of $67,000 15,000 miles a year and 36 months that would be much appreciated.

    Edit---------------

    Actually if you can just confirm that the Money factor and residuals that I have here are correct I will run the numbers myself when I get into work on Monday.

    Residual 36 months 49%
    Money factor 36 months .002992
  • rover,
    part of the pricing discrepancy is the fact that because rovers are so poorly made, they have very low residual values. porsches have high residuals, therefore lower payments during the lease term. i priced a lease on a range rover HSE prior to buying a cayenne, and they were only giving something like 40% residual on the lease, (which speaks volumes).
    you are obviously trying to sell a rover, and are are soliciting feedback in a porsche forum, but you should really do these folks a favor, and encourage them to buy a german (or even japanese) vehicle, then you should go apply for a job at your local porsche dealer. :P

    PS. just becausue those folks are claiming it's a 70K cayenne, doesn't mean the cap cost is 70k in the pmt calc.
  • british_roverbritish_rover Posts: 8,458
    I don't know what dope you are smoking but the Range Rover Sport has a higher residual value across the board compared to the Cayenne. The residual value on the sport for a 36 month lease is between 56 and 53 percent depending on the trim level. A Cayenne at 36 months has a residual value of between 56 and 47 percent depending on trim level. If you were looknig at a full size Range Rover then the losest residual value for a 36 month lease is around 49% and that is for a Luxury/Oxford edition.

    Takke a look at this link Resale values

    The LR3 has the best overall resale value in its class and is number three overall.

    And then look at this ALG residual value awards

    Land Rover is listed as third among luxury makes and the Range Rover Sport won highest residual for CUV's.

    I know that 70,000 dollars might not be the cap cost which is why i said discounts for Cayenes around here are probably about 3,000 dollars. If they are getting a bigger discount then that on the Cayenne then they are welcome to it cause we won't give more then a grand off for a Range Rover sport.
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