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Porsche 911 Lease Questions
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For 36 month lease of a 2009 911 C2 Coupe with a manual transmission from what I see in your earlier postings:
15k mi/yr is 55%
12k mi/yr is 56%
10k mi/yr is 58%
Can you tell me what these would be for 48 month lease?
Thanks!
You definitely do not want to lease this car for 48 months. If I recall correctly, its special lease offer is only available for 36 month leases. If that is indeed the case then if you were to lease for 4 years, this car's money factor would more than double from .00146 to .00310. Ouch.
Car_man
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So this weekend I found my dream 911 C2, discussed the finances worked out the numbers and sat down with the dealer to finish the deal.
The dealer took down my information ran my credit and told me that I have a 740 score but PFS might not approve my lease because I don't have comparable credit.
My current car is a 17000$ Toyota and PFS might not agree to lease a 911 to me as its too big of a jump.
Apparently their automated system turned it down and the dealer might need to discuss it with PFS over the phone ( PFS is not open on a Sunday )
Has anyone in this forum faced a similar problem with not having comparable credit??
Thanks!
Is it still 51% and 56% for 36 and 24 months, 15k?
Does PFS bump up 3% for 10k miles?
And .00146 MF?
Thanks.
Yes, you would add 3% to these residual value for leases with only 10,000 miles per year.
Car_man
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Is the lower LMF of .00146 still being offered?
If dealer lists:
CashSalePrice $77K , but 3 yr lease based on MSRP $94K, I think the lease calculation is based on MSRP. Dealer said vehicle MSRP for lease is based on MSRP, not the CashSalePrice. Does Porsche negotiate the MSRP and residual used in the lease calc or am I stuck with MSRP and 54% residual?
From my pretty extensive research, the .00146 is available on all 997 leases in September. And the incentive on all RWD 997s is $10k. The $10k incentive cannot be combined with the subsidized lease program so you should add $10k to the cash sale price ($77k + $10k = $87k).
BTW, on a $94k MSRP, the markup is 10% so the dealer cost would be approx. $84,600 ($74,600 if buying). I've found several dealers on the East Coast willing to sell for $1000-$1500 over invoice.
Hope this helps. You may want to get Carman or someone to verify my facts but based on my own searching, I'm pretty confident they're correct.
The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. The only difference would be that the dealer cash that Porsche is currently providing on the 911 is not compatible with its special lease program. Therefore, you will only be able to negotiate in the space between full MSRP and dealer invoice price rather than getting this car for under invoice...which would be probable on a cash purchase.
Car_man
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I just wanted to get feedback. I paid 5K total clsing costs and my payment is $1857/=. I was offered a $1927 lease for a 2009 PDK Carrera S (not 4S or cabriolet).
So when I got a 2009 4S cabrioloet with PDK (yr 2009), I though 1857 with 5K down is a good deal. It is too late now, but am just checking for future, if this is too much price, average or did I get a good deal?
Thanks.
Looking forward to some experienced folks input.
The dealer seems resistant to discussing a used car lease and I'd like to go back fully prepared. BTW, the car is a Porsche-certified '05 911 Carrera (997?) with 50K miles . I still need to research maintenance costs that I might be exposed to.
Requesting your input..
I am new to the Porsche leasing/buying process, didn't realize/reaseacrh enough. I should have found this board before leasing my 2009 Porshe.
I just wanted to get feedback. I paid 5K total closing costs and my monthly lease payment is $1857/=. I was offered a $1927 lease for a 2009 PDK Carrera S (not 4S or cabriolet) by another dealer in Miami. I bought this car from mid west.
Its a loaded Carrera 4S Cabriolet with Sports chrono, nav, bluetooth etc, with MSRP of $124K.
So when I saw a 2009 4S cabrioloet with PDK (yr 2009), I thought $1857 with 5K (includes first payment) down is a good deal. It is too late now, but am just checking for future, if this is too much price, average or did I get a good deal?
Thanks.
Porsche dealer's quote for a 36 mo. lease of a pre-owned '07 Cayman S:
Price $41.5K
Cash Down $7.5K
MF .00350
48% residual (on price)
"bank fee" of $895
Pmt: $670+ tax
Not good. I could get essentially the same pmt on a brand new 09' Cayman S with a little price haggling. Or a stock Cayman for $100/mo less and 50% less $$ down.
I expected a lower MF reflecting the going loan rates and much a higher residual because its past the worst depreciation years and its a Porsche. With those lease variables, there's no way to get a price low enough to make up for the low residual and this work. Are my expectations unrealistic?
I am looking at a lease offer for 2009 demo 911 Carrera coupe with PDK for $7,500.00 drive away and $800.00 a month before tax or roughly $36k all in for the 3 year lease. 36 months 10k miles/month
The car has less than 2,000 miles and has never been titled as it is a dealer demo car therefore qualifies as new for lease purposes. Original MSRP around 86k
Sounds pretty good to me, thoughts from anyone asap? thanks
(I also saw a 2009 911 arctic blue cab over the summer for roughly $43k all in for a 36 month lease but my wife hated the color and nixed the deal. There dont seem to be those types of deals around for the 2009 cabs at least what I have seen here in California, both north and south.)
What are the residuals on remaining '09 911s?
Ex.: 36month/10k miles/year?
Is the Money Factor still .00146?
Thanks
Car_man
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If I was interested in leasing a Cayman right now, I personally would go with a 2009 model and take advantage of the lease support that is available on it.
Car_man
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What are the current lease offers on remaining '09 911 inventory?
Is the residual 55% or 58% on a 36month/10,000 miles/year lease?
Is there a current ***promotional???***money factor?
Thanks
Let us know what this 911's selling price is and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.
Car_man
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Porsche Financial Services' residual values for the 911 vary by trim level. For instance, its 36-month, 10,000 mile per year resid for an '09 911 Coupe is 56% and the resid for the '09 911 Cab is 54%. I would be happy to give you an idea of what the current residual value is like for the exact model that you are interested in if you describe it to me.
Car_man
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Car_man
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-PDK
-Bose sound pkg.
-heated/seats/steering wheel
-pwr seats
-xm radio
MSRP: $85K
On a 36month/10kmiles per year lease what would the residual be? Dealers are all over the place some say 55% others 53%. Please, let me know.
Thanks
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This is the first time I am buying a Porsche, so I honestly do not know how to evaluate a good deal. Is invoice + $300 a good deal or should I hold out for invoice? Hence the deal hold back question.
Many thanks.
There is a reason why holdback is not listed anywhere. It isn't for you. Expect to pay profit on a vehicle unless you find a leftover model from the recession.
Is it fair to assume that you are a salesman or dealer since you got so bent out of shape with the taboo question about dealer holdback.
All manufacturers have dealer holdbacks but that is something they dont want the general public to know about. It is not something that is discussed or negotiable. Therefore, even if you buy the car at dealer cost and he gives you a sob story about how he's losing money, the dealer is still making money on the car. However, it is only fair that they make a fair profit or else they couldnt afford to stay in business. What you think is fair is subjective.
If you like discussing holdback, then Porsche is not for you. You are missing the point of buying a Porsche. It's not about the deal, it's about the car.
Funny... my local Porsche dealer advertises price in all of their ads... :P
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Is Porsche offering any new :Lease deals for the month of December?
Thanks in advance for the reply.
According to the site, truecar.com, the hold back is about $1k. This explains the deals I have been offered (almost invoice - marketing support).
I am now ready to go get the best deal I can this weekend.
The cool thing is that according to porsche.com, there are only three new cars that would fit my criteria (PDK + memory seat) on the West coast. After spending the whole day on the phone, I was able to purchase one of them.
First Porsche for me. I am very happy.
Edmunds.com previously posted the marketing support was $7k (since expired on Nov 30th). But from an earlier post, someone talked about $10k marketing support became $8k.
So both the posts in this forum plus the anecdotal evidence suggested there is still marketing support there (as well as a combination of special lease rate and a smaller dealer cash).
Hope this helps.
BTW, in all my dealings, the Porsche dealer @ Livermore was the most straight forward. The price they gave me on day one was almost just as good as the deal I got. If they still have the car, I would have bought it from them. So if someone is interested in a 2008 C4 coupe in black color with many toys, they have a great deal for you.
I leased a 2009 Carrera 2 demo with PDK, memory seats and an MSRP of 86k and change. The leased was based off price of 71k and change with 7,500 drive off and 800 a month. I'm happy.
You were lucky to find one that they would still deal on.
If I were to lease it, the price would have been $73k. The reason I bought versus lease were 1) the sales tax rebate (worth $1.5k to me), 2) I can get nearly the same home equity rate after tax, 3) the additional $4k off.
Car_man
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Car_man
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Thanks for all the info you have been providing.
I wanted your and other's feedback on what are usual penalies for ending a lease agreenment before time, say ending a 3 yr in 2 years or one year?
Thanks.
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
Car_man
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Thanks for any help you can give.