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Porsche 911 Lease Questions
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I'm okay with that, I'm just concerned about the glut that took place in the Southern California market with the 996 and the large fall in the value of the car on resale, hoping that that doesn't happen with the 997. I would guess that the 997S, whether cab or coupe , would be the most sought after model in the line due to it's performance and price. Common knowledge that the 996 didn't holds its' value and the complaints that followed did not fall on deaf ears at Porsche. Wonder what the inventory at Porsche of the Secret City in China is like....2 cars? But your point is well taken..
Chromedome
You should be able to find this car's dealer invoice price by looking it up in the New Vehicle Pricing section of Edmunds.com. Unfortunately, I am not intimately familiar with what the market is like for this car right now so I can't give you an idea of what sort of price to aim for.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
So I can get a 4.4% lease rate from my bank for 36mos. I see that Porsche is about 7.5% will I lose anything by going with my bank? I'm looking at a 911 cab, base with no addons(87000ish).
Thx.
Steve
Basically this sounds too good to be true. Can anyone help me understand why this company can offer such low leases and still make money?
Currently, Porche's rates for an '08 911 Cabriolet is as follws:
Not sure how many miles you need...
36 mo /15k - 60% / .00320 (7.68%)
Give leasecompare.com a shot, or try a more competitive bank.
36/10k - 65% / .00320
39/10k - 62% / .00320
Again, numbers can vary by region. I'll double-check on Tuesday and get back with you.
Thx.
"It looks like the rate is now .00300 with a 61% residual value. Through LeaseCompare.com we can do a .00208 factor with a 55% residual value. This could save you close to $40 a month and give you over $3,300 in more equity at the end of the lease."
http://www.leasecompare.com/quick_lease_quotes.php?ZipCode=45227&ModelYear=2008&- MakeID=680&ModelID=133&StyleID=109&vehicle=2008+Porsche+911+Carrera++&SessionID=- 804314&SelectedTerm=36&QuickQuote=-1
It still appears that the numbers the dealer quoted you were the best. If they are true to their word, jump on it!
Thx.
Not sure what the secondary lender's acq fee is, as I received the numbers through an alternate source.
I simply copied and pasted the response I got from one of my contacts, so I just assumed it was correct. After checking it over though, the numbers are off. The first residual of 61% looks like it could be for 15k and the second one of 55% looks like it's for 12k. I'll see if I can patch this up for you tomorrow.
I feel like I haven't helped you on this matter, only made it more complex.
Either way though, I don't believe the mf is going to get any better than what you were quoted. Plus, the dealer has no reason to lie about the residual, which is evident as our initial numbers were spot on, except for being off 1% on the 39/10k residual.
I am in Boston and am looking to lease a 911 in the next month or two. I have spoken to a few different dealers and when I ask for residual values they give me different residuals and they usually vary between 55% and 62%. Are residual values different for each 911 model? If so does anyone know what they are currently? Also, do residual values change as the year goes on, and if so, by how much? With interest rates decreasing, will the money factor decrease as well. Any info on this would be very helpful.
Thanks in advance,
GEOK
Yes, Porsche Credit has lowered its money factors recently. Through April 30th, its current buy rate for any length lease of any 2008 911 is .00270. Its current residual values are good through that date as well. Residuals gradually fall as the model year progresses. It is difficult to say what will happen to them for certain when Porsche introduces its new May lease program, but I would not be surprised if they fell by a point or two.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
GEOK
What is the residual on a 2008 997TT, MSRP 147000. Is the buy rate still .0027? Any recommendations on leasing such a expensive car?
thanks
What kind of money factors do they use? What kind of residuals? Say we're talking about a 36 or 48 month lease with 10k miles.
Any reactions to the prospect of leasing a couple of year old 911 vs. buying it?
My questions emanate from trying to balance the cost of leasing where I walk away in 3 to 4 years vs. purchasing and seeing what it will be worth in 3 to 4 years as retained "equity", taking into account having to pay hefty sales tax on a purchase for the full value of the car.
Any thoughts on info on things like money factors and residuals on '06 and '07 911 Cabs?
Thanks.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Have heard 2009s will be out in next 90 days or so. How will that affect the economics of my decision?
Thanks in advance to anyone who has insight.
Been reading Edmunds for years and have used the site to help buy/lease 5 cars, working my way up the automotive food chain from a couple of Jettas to my current car, an Audi S4 Cab. Well the lease is almost up on my cab and I am now planning to replace it with a custom ordered 2009 911 C4 Cab. List price on the car is $115,360 and the dealer's first offer is to sell it for $112,360. He is quoting a MF of .0028 and residuals of .59 (36 mos) or .53 (48 mos).
The questions I have are:
1) Is that the right MF? I've read here that it's currently .0027 and I've seen 3rd party lease rates on Porsches as low as .0026
2) Why are dealers so reluctant to negotiate on cars they order? I went through the same song and dance when I ordered my Audi (I ultimately got the car for $1000 over invoice) and they are starting it up again - 'we never lower the price on ordered cars, these are hard to get, blah, blah.'
Isn't an ordered car essentially risk-free money for them? They don't have to wait for someone to come in and take inventory off of their hands or hope that the config they chose will actually sell. What I'm getting at is how much leverage do I have to shop for the best deal (I'm in Boston and there are 8 dealers within 75 miles so I think I have plenty of options)?
Thanks!
Shawn
1) The money factor through PFS is 0.00250 with top tier credit and the residuals are correct for 10,000 miles per year (they can't adjust the residual). Other banks such as USBank have been aggressive (relatively speaking), but they are currently not providing lease rates on this vehicle.
2) I think you could do better on the selling price.
Best,
Matt
eights38@gmail.com
$5000 Total drive off
$1000/36 months
15K included
Black/Black or Black/Tan
No package
No options
Good deal?
Thanks for your reply! I went back to them and lo and behold, the MF was changed to .0025 but then the drama started. lol
I wanted to put something in the P&S that would help prevent them from pulling a lease bait n' switch at delivery because they would have quite an advantage at that time - they would have my deposit and I would have already turned in my Audi.
They came back with the typical song and dance 'we sell C4s at full list all day, in fact we have a bunch on custom order for list price' and they were not willing to share some of the risk (i.e. that I could get my deposit back if the deal terms turned grossly unfavorable) on the deal. So I thanked them for their time and am going to shop for a better deal.
I read about Authority Car Buying on here a couple months back and I am going to see if they can help, I'll let you know how things go!
Thanks again,
Shawn
My dealership is selling all '09's at sticker right now. They are limited supply and brand new. Deals are on the '08's. Granted, this is a sample of 1 dealership, but we are a large store and still don't have tons of vehicles to choose from on the '09's.
They are worth every penny.
I don't doubt that, my understanding is that none of the dealerships have received many 09s and that there is a moratorium on selling that inventory because it is to be used as demo stock. But I am custom ordering my car and was looking to pick it up from the same place I leased my S4 cab (also custom ordered) when I turn that car in in a few months.
I do believe the cars are worth the money but I'd be hard pressed not to negotiate for a good deal on a $115k vehicle with the kind of econ turmoil we're seeing right now. Just because I can afford it doesn't mean I'm going to throw it away (or else I won't be able to afford much for long! lol).
Thanks for your input!
Shawn
Matt
eights38@gmail.com
All the best,
Shawn
I know I can get 5% off sticker....perhaps 7%. I am looking for 36 month/12k mile lease. I live in South Florida/Broward County.
My question is:
Must I go through Porsche Leasing or are there better money factor and residual values out there? If so, what is the best way to find those deals and will they allow me to use a different bank for the lease?
I dont plan on buying the car upon lease expiration. I have a porsche now that ends lease soon and I wonder if I can negotiate OUT the $500 lease resturn fee that is currently built into my existing lease with Porsche Lease.
Thanks
I am about to take the plunge on an 09 911s PDK optioned at 103k. I already have negitiated 5% off sticker, and am shooting for another 2%. I am looking for a 36month.12k lease. Can you share your experience with the money factor, residuals, etc so that I can be armed to get the best deal?
Thanks
John Marcum
Next question, does anyone have any info. on the sport bucket seats (like the ones on the GT2) which are an option on the reg 911s now? Are they comfortable for daily driving, worth the money, carbon fiber? Anybody considering these seats? I'm not seeing these at the dealerships.
Thanks in advance for the replies!
Under $1000/mo, probably not but I think you can get close, even with $0 cap reduction. I special ordered a 2007 C2 Cabriolet with a few nice options 2 years ago (Nov 2006, MSRP $92K) and I was able to get a payment around $1250 (before tax, 12K/36mo, lease through US Bank).
It is much more a buyers market now than it was 2 years ago. If you special order a C2 (not a cab) with no options you should be able to do much better than my payment and get close to the magic $1000/mo number (before tax). Shoot for a 6-8% discount on a custom order. It is possible, you just need to do your homework and call a lot of dealers.
Good luck.