ggreg911

No.

Larry Cable

I'd be surprised if you can even get it for $950 ... those deals typically magically disappear when you show up to lease it ... usually on a particular VIN that has either already gone, or has zero options ...

good luck

Kk939

Thanks guys and Mary=MSRP. I have searched and been quoted for what I think are good deals by 2 different dealers on a 2014 Carrera coupe 27month lease. Both are with $5000 down and 7,500 miles/yr. they both are PDK with 20" wheels, sunroof, Bose sound... The only difference between the 2 cars are listed as additions options.

Dealer 1 is $996/ month (tax included)
Additional options: sports chrono package, sport design steering wheel

Dealer 2 $940/month (tax included)
Additional options: multifunction steering wheel

Let me know what you guys think. If it's a good deal, any advise would do as I'm new to both leasing and porsche

Tapeworm

I would stretch myself and get an S, but it might be ~$200 a month more...

Personally I don't like the MF wheel unless you have a manual, the PDK switches are just wrong. Although I am jealous that only the MF wheel has the heated option.

Michael_s

Can always add paddles to the MF wheel. Heat is nice......

MJBird993

Is that $5000 a capital cost reduction and there are more fees along with it (first month's payment, etc.) or is that truly all there is? Either way you need to consider all of that in your calculation of what this will cost you. Most people (myself included) think that putting any money down on a lease is the wrong way to go. They just do that to make the payments look more affordable, or in this case, to keep it under a grand.

Have you considered buying the car and getting a conventional loan? Interest rates are low, and Porsche often has subsidized rates. Do some research here on this forum and you'll see that few people consider Porsche leases to be above average. Or even average. OK, they suck.

Your new Porsche will likely be a reliable and fun car to own. You do need to budget for maintenance (oil changes, etc.) and tires (they don't last long). Tires are not cheap on this car.

On the face of it, those lease numbers look OK to me, but I've never leased a Porsche, I always buy them. I have leased other cars, but unless you can write it off for business, the only real advantage of leasing is the savings on sales tax and knowing that you can get out of the car in XX months. Or if you simply cannot handle the payment on a loan.

But IMHO if you can't put down a large down payment and can't comfortably make the loan payments (and insurance!) and maintenance costs, then you shouldn't be buying a ridiculously expensive car like a Porsche anyway.

Kk939

The $5000 down excludes the first months payment. This will be my first lease and the only reason I'm not buying it is that I want to make sure I'll love it long term. In essence the 27month lease willbe a test period for me. I can comfortably afford the car and maintenance. My current car is a BMW 650i which I bought brand new in 2006. If after 27months I know I want a 911 long term I will just buy the 911 S at that time.

Dalema

You really should not put any money down to reduce the cap cost. Particularly if you are figuring out what you like - after a year you may want to do a one-year pull ahead to move into another car and guess what - you've lost your $5K.

Don't focus on the lease payment - focus on the sales price of the car (negotiate as aggressively as you can), the money factor (MF) which is the interest rate and for which there is a "base rate" you should demand and overall is negotiable, the residual which is fixed by PFS and any fees they are including.

Ask them to send you a screen shot of the lease that contains all of the above.

Then use a lease calculator - such as http://www.ridewithg.com/rwg-calculator/ To play around with the numbers.

The other variable I didn't mention (which drives the residual %) is the lease miles. I've found that it makes the most sense to go with the least amount of miles (5,000) and pay for the extra miles, if you use them. Play with the calculator and you will see what I mean.

To get the latest MF and residual I'd recommend checking out this Edmunds forum http://forums.edmunds.com/discussion...e-questions/p8 So you can make sure of the MF.

If you just focus on the lease payment you are playing into the dealer's hands.

Good luck!

Larry Cable

all great info, thanks!

GreenLantern

^^ This.

eg991

Agree with those who have advised against putting any money down on a lease. Also, it's good advice to focus on the selling price of the car and pay attention to the money factor (make sure the dealer isn't marking it up) and the residual value %. I happen to lease even though I can afford to buy the car. I don't get a tax write-off, but I save some on the sales tax and it enables me to get out of the car with few/ no strings attached at the end of the lease term (or even earlier via the pull-ahead program). At the end of the day, if you envision keeping the car for ~3 years, you'll probably wind up even if you lease or buy. But if you lease, you won't have a headache unloading the car, and it's not your problem if there's an accident noted on the CarFax.

GreenLantern

+1

Haven't re-read this thread to see if it was mentioned, but another reason to not put money down on a lease is if your car is totaled (or stolen), you get *none* of the money that you put down. The money put down is to pay down the lease, doesn't go towards the equity in the car, thus, you get nothing.

Kk939

Thanks for your thoughts, I will no longer put anything down and let you guys know once I make my final decision

Dalema

Good call. I forgot to mention that it is $0.30 per mile over your lease miles typically for when making that assessment.

If you throw the numbers up on here - people will help you out too.

Other than the sales price - it's the MF the dealer will try and mark up and make money from you on.

Kk939

Finally got the car, pics to come once its delivered