2019 Panamera 4 Lease

JMF17

Hi, All. I'm completely new to leasing. I've financed every car I've owned for 20 years. Currently looking at a 2019 Panamera 4 with a sticker of 104K. Dealer offered the exact special on their website which is basically $8500 down (includes first months payment, taxes, bank fees, etc ...) and then $1199 a month for 39 months.

I've never negotiated on a lease so don't know where I stand and/or what I should be doing here. I'm not trading anything in.

Thanks!

Michaell

JMF17 said:

Hi, All. I'm completely new to leasing. I've financed every car I've owned for 20 years. Currently looking at a 2019 Panamera 4 with a sticker of 104K. Dealer offered the exact special on their website which is basically $8500 down (includes first months payment, taxes, bank fees, etc ...) and then $1199 a month for 39 months.

I've never negotiated on a lease so don't know where I stand and/or what I should be doing here. I'm not trading anything in.

Thanks!

Use this link to get you up to speed on leasing:
https://www.edmunds.com/car-leasing/

We wouldn't recommend $8500 to start a lease. The whole idea is to pay as you go, so the minimum amount up front makes the most sense (first payment and registration costs only).

And, you may be able to negotiate a better price than the website special.

Take your time, do your research and you can end up with a pretty good deal.

JMF17

Thanks for the response. Based on your knowledge of MF/Residuals, etc … is there a way for me to determine what a good deal would be on this car? I'm sure I can ask for a better deal and get it but I'd like to do the math on my end to figure out what a good deal looks like. Thank you!

Michaell

JMF17 said:

Thanks for the response. Based on your knowledge of MF/Residuals, etc … is there a way for me to determine what a good deal would be on this car? I'm sure I can ask for a better deal and get it but I'd like to do the math on my end to figure out what a good deal looks like. Thank you!

What lease term and how many miles per year are you looking for?

JMF17

Thank you in advance for helping! 39 months, 10,000 miles. 07726 BTW.

Sidebar, the other vehicle I'm looking at is the 19 RR Sport. I've already been given a price. Sticker is $89,424 and I was quoted $3378.92 out of pocket with payments of $1217.54 for 36 months, 12,000 miles. Still not sure what I'm doing.

I owe you and happy to repay my debts!

Michaell

JMF17 said:

Thank you in advance for helping! 39 months, 10,000 miles. 07726 BTW.

Sidebar, the other vehicle I'm looking at is the 19 RR Sport. I've already been given a price. Sticker is $89,424 and I was quoted $3378.92 out of pocket with payments of $1217.54 for 36 months, 12,000 miles. Still not sure what I'm doing.

I owe you and happy to repay my debts!

.00290 and 56% for 39/10

RR Sport lease thread can be found here:
https://forums.edmunds.com/discussion/52109/land-rover/range-rover-sport/2019-land-rover-range-rover-sport-lease-deals-and-prices#latest

JMF17

I’m sorry to keep asking questions but I’ve done the math a dozen times and I keep coming to about $1700 per month for a vehicle with a sticker of 104k using your MF and residual. The dealer had offered 8500 out of pocket which includes 1st payment, taxes and fees and then payments of $1199 a month for 39 months, 10k miles per year. I’m off by quite a bit. What am I doing wrong? Thank you.

Michaell

JMF17 said:

I’m sorry to keep asking questions but I’ve done the math a dozen times and I keep coming to about $1700 per month for a vehicle with a sticker of 104k using your MF and residual. The dealer had offered 8500 out of pocket which includes 1st payment, taxes and fees and then payments of $1199 a month for 39 months, 10k miles per year. I’m off by quite a bit. What am I doing wrong? Thank you.

What number are you using for the cap cost? Are you subtracting the $8500 from it?

8500 / 39 = $218/mo

JMF17

Trying to figure out what the actual price is they’re using for the lease. I’m using the total MSRP of 104k because I don’t know the sale price.

MSRP minus Residual divided by term is 1173.33

MSRP plus residual times MF = 470.50

1173.33 + 470.50 times tax of 7% = 115

Total monthly payment would be 1758.

They’re offering for 1199 with 8500 out of pocket. But the out of pocket includes fees. Even if I assume they’re taking 5k of the 8k for cap cost reduction it still doesn’t get me to the residual if I add up the payments. I can only figure they’re giving me the car for around 87k. If that’s the case then I just don’t know how much room is left to negotiate aside from the MF seems high. Comes in at 7% APR.

I’m just looking to figure out how much more room I have here to negotiate before I sit down with them again.

Am I overthinking this??

kyfdx

JMF17 said:

Trying to figure out what the actual price is they’re using for the lease. I’m using the total MSRP of 104k because I don’t know the sale price.

MSRP minus Residual divided by term is 1173.33

MSRP plus residual times MF = 470.50

1173.33 + 470.50 times tax of 7% = 115

Total monthly payment would be 1758.

They’re offering for 1199 with 8500 out of pocket. But the out of pocket includes fees. Even if I assume they’re taking 5k of the 8k for cap cost reduction it still doesn’t get me to the residual if I add up the payments. I can only figure they’re giving me the car for around 87k. If that’s the case then I just don’t know how much room is left to negotiate aside from the MF seems high. Comes in at 7% APR.

I’m just looking to figure out how much more room I have here to negotiate before I sit down with them again.

Am I overthinking this??

I agree with your math. Assuming about $2000 of your $8500 is leftover for CAP reduction, after paying for taxes/fees and first payment, the selling price would have to be around $88K, or so.

Seems like a good deal for that model.

.00290 is the base MF from Porsche. Nothing you can do about that.

JMF17

Thank you. Now the trick is figuring out invoice I guess so I know what kind of room might be left to negotiate. Any suggestions on where to go aside from asking the dealer?? Thanks! Very helpful.

Michaell

JMF17 said:

Thank you. Now the trick is figuring out invoice I guess so I know what kind of room might be left to negotiate. Any suggestions on where to go aside from asking the dealer?? Thanks! Very helpful.

You can use this link to help with pricing:
https://www.edmunds.com/tmv.html