Purchase questions / leasing possibility / reliability inquiry
01-06-2019, 02:30 PM
#1
Track Day
Thread Starter
Purchase questions / leasing possibility / reliability inquiry
Looking to purchase a Cayman ~ July 2019, had a couple of questions:
1) In perusing the forums, it sounds like people are getting 5 - 10% off MSRP?
2) In perusing the forums, it sounds like buying is better than leasing?
3) Any anecdotal stories about reliability? I was impressed with how highly Porsche ranked in reliability rankings (flawed as the rating methodology can be at times) and reliability is one of the larger factors I'm considering in transitioning from my current stable of cars (planning: G Wagon -> Cayenne, Hellcat -> Cayman. FWIW, my Hellcat has been WAY more reliable than the G Wagon)
Thanks in advance, looking forward to being a part of the community!
1) In perusing the forums, it sounds like people are getting 5 - 10% off MSRP?
2) In perusing the forums, it sounds like buying is better than leasing?
3) Any anecdotal stories about reliability? I was impressed with how highly Porsche ranked in reliability rankings (flawed as the rating methodology can be at times) and reliability is one of the larger factors I'm considering in transitioning from my current stable of cars (planning: G Wagon -> Cayenne, Hellcat -> Cayman. FWIW, my Hellcat has been WAY more reliable than the G Wagon)
Thanks in advance, looking forward to being a part of the community!
01-06-2019, 03:40 PM
#2
Rennlist Member
1) About 5% is typical on an order for a new car that you spec. It's January and sports car sales are slow. If you see something you like in local inventory, you will get a few percent more if you walk in at the end of the month, especially if car is 2018 leftover that's been sitting. Also look for demos/service loaners with next to no miles if you want to save more or CPO - these have six year warranty.
2) Buy vs. lease a matter of individual finances, money management philosophy, etc. In general, as you've said, leasing makes little objective sense for most based on current money factors and residuals. There are couple of threads here with more details.
3) The current iteration has only been around 2 years so no one has hundreds of thousands of miles on one, but there are no repetitive problems, etc. Anticipate excellent durability.
2) Buy vs. lease a matter of individual finances, money management philosophy, etc. In general, as you've said, leasing makes little objective sense for most based on current money factors and residuals. There are couple of threads here with more details.
3) The current iteration has only been around 2 years so no one has hundreds of thousands of miles on one, but there are no repetitive problems, etc. Anticipate excellent durability.
01-14-2019, 06:59 PM
#5
I think the answer to both of your first two questions is dependent on not only your location and goals, but the time of year.
The amount of discount will depend on where you look, and whether you're comfortable doing a deal over the internet or want to build a personal relationship with a sales person at your local dealership. I got 8% off on a 2019 ordered in September from a dealer in San Diego. But only after getting quotes, in writing, from other dealers in Southern California and out of state and having the dealer match it. At the time of my order, there weren't any 2019s on the lot. So I'm pretty sure I could have gotten better for an in-stock 2018. In July, you will be near the end of production run for the 2019 model year, so you might get a better discount, even for an ordered car.
As for leasing vs. buying, it will depend on your goals. If you are looking only at monthly payment, leasing may be better. I try to look at my total net acquisition cost from the day I pick it up to the day I get rid of it (down payment + principal paid during term + interest paid during term - expected trade-in/sale value), I usually like leasing because I turn over cars pretty frequently, and the residual value is insurance on the depreciation. But for me, the money factor offered on 2019s (as opposed to the incentive money factor for 2018s) was exorbitantly high. To convert to an APR, multiply the MF by 2400. The 2018 money factor converted to 7.5%. In contrast, the finance rate was around 4%. In July, the rates may be much closer, and a different choice may be better.
So the prevailing wisdom now may not be true in six months.
Good luck!
John
The amount of discount will depend on where you look, and whether you're comfortable doing a deal over the internet or want to build a personal relationship with a sales person at your local dealership. I got 8% off on a 2019 ordered in September from a dealer in San Diego. But only after getting quotes, in writing, from other dealers in Southern California and out of state and having the dealer match it. At the time of my order, there weren't any 2019s on the lot. So I'm pretty sure I could have gotten better for an in-stock 2018. In July, you will be near the end of production run for the 2019 model year, so you might get a better discount, even for an ordered car.
As for leasing vs. buying, it will depend on your goals. If you are looking only at monthly payment, leasing may be better. I try to look at my total net acquisition cost from the day I pick it up to the day I get rid of it (down payment + principal paid during term + interest paid during term - expected trade-in/sale value), I usually like leasing because I turn over cars pretty frequently, and the residual value is insurance on the depreciation. But for me, the money factor offered on 2019s (as opposed to the incentive money factor for 2018s) was exorbitantly high. To convert to an APR, multiply the MF by 2400. The 2018 money factor converted to 7.5%. In contrast, the finance rate was around 4%. In July, the rates may be much closer, and a different choice may be better.
So the prevailing wisdom now may not be true in six months.
Good luck!
John