Notices
718 Forum The forum for the 718 Boxster Cayman Variants

718 Boxster Base Lease Question

 
Old 07-11-2019, 09:42 PM
  #1  
Jsatsunset
User
Thread Starter
 
Join Date: Jul 2019
Posts: 10
Likes: 0
Received 0 Likes on 0 Posts
Default 718 Boxster Base Lease Question

Hello everyone. I am considering 718 Boxster as my next car. My current lease, which is a 640i, ends at the end of September, and I really want 718 Boxster as my next lease car. I spoke with a local dealer and he sent me this car. Can you please see the car and give me some advice? I am looking for 36 months with 10,000 miles/ year. Without any downpayment, I don't want to spend more than $1200/month. Is it realistic or am I too stingy? I didn't get the numbers from him yet, so I will update it when I get the numbers. It will be my first Porsche. Thank you very much.

http://www.porsche-code.com/PK5BRHQ0
Jsatsunset is online now  
Old 07-12-2019, 03:21 PM
  #2  
Dan87951
Super User
 
Dan87951's Avatar
 
Join Date: Jul 2001
Location: Lansing Michigan
Posts: 6,424
Received 9 Likes on 5 Posts
Default

Doing some quick math it seems like buying the car would be a better move than leasing it. Did he quote you a $1200 lease payment for this build?
Dan87951 is offline  
Old 07-12-2019, 03:45 PM
  #3  
Jsatsunset
User
Thread Starter
 
Join Date: Jul 2019
Posts: 10
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by Dan87951 View Post
Doing some quick math it seems like buying the car would be a better move than leasing it. Did he quote you a $1200 lease payment for this build?
I just got an answer from the dealer. $1,285 a month with $2,500 down.
Jsatsunset is online now  
Old 07-12-2019, 03:50 PM
  #4  
alex2364
User
 
Join Date: Feb 2012
Posts: 14
Received 0 Likes on 0 Posts
Default

So you're basically paying $1354 per month (including down payment) on a $77k car. That's a terrible deal. You should just finance the car for 72 months if you want a low car payment.
alex2364 is offline  
Old 07-12-2019, 03:51 PM
  #5  
Dan87951
Super User
 
Dan87951's Avatar
 
Join Date: Jul 2001
Location: Lansing Michigan
Posts: 6,424
Received 9 Likes on 5 Posts
Default

Does that include tax? Total lease outlay is $48,760 over 3 years on a sticker price of $76,940. I am pretty confident your car will be worth more than $28k after 3 years and 30k miles. Porsche's lease "deals" rarely make sense. Out of curiosity what is the residual value at the end of the lease contract?
Dan87951 is offline  
Old 07-12-2019, 04:18 PM
  #6  
gatorfast
User
 
Join Date: Nov 2009
Posts: 36
Likes: 0
Received 8 Likes on 3 Posts
Default

That is a brutal lease deal
gatorfast is offline  
Old 07-12-2019, 05:06 PM
  #7  
Jsatsunset
User
Thread Starter
 
Join Date: Jul 2019
Posts: 10
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by Dan87951 View Post
Does that include tax? Total lease outlay is $48,760 over 3 years on a sticker price of $76,940. I am pretty confident your car will be worth more than $28k after 3 years and 30k miles. Porsche's lease "deals" rarely make sense. Out of curiosity what is the residual value at the end of the lease contract?
This is from him.

"the residual is $41,720 after a 39-month lease. The monthly payment of $1285 does include all Taxes, Licenses and Fees."

They made it 39 months not 36. Thank you for your advice by the way.
Jsatsunset is online now  
Old 07-12-2019, 05:53 PM
  #8  
Dan87951
Super User
 
Dan87951's Avatar
 
Join Date: Jul 2001
Location: Lansing Michigan
Posts: 6,424
Received 9 Likes on 5 Posts
Default

Originally Posted by Jsatsunset View Post
This is from him.

"the residual is $41,720 after a 39-month lease. The monthly payment of $1285 does include all Taxes, Licenses and Fees."

They made it 39 months not 36. Thank you for your advice by the way.
No problem!

Simply put, this is a total ripoff.
Dan87951 is offline  
Old 07-12-2019, 08:14 PM
  #9  
The Pinkoboe
New User
 
Join Date: Jul 2019
Posts: 3
Likes: 0
Received 0 Likes on 0 Posts
Default

To say this deal is a ripoff is a complete understatement.

Doing some quick calculations, this deal is the equivalent of buying the car at full MSRP and financing it at 9%. My advice is to not even talk to this dealer further, and to do research on how leases work before you jump into something. Leases can be great, but they are also great ways for dealers to screw over the uninformed.

Last edited by The Pinkoboe; 07-12-2019 at 08:49 PM.
The Pinkoboe is offline  
Old 07-12-2019, 09:36 PM
  #10  
john981
User
 
Join Date: Oct 2018
Posts: 164
Likes: 0
Received 1 Like on 1 Post
Default

Average lease in California for boxster is around 5-6k down and 700 plus tax, 10k miles 36-39month. Some of them have even 2 years maintenance included. Dealers give 3-9% off of MSRP, you have just to ask for it and push them a little. I was not sure how serious this deal was, but they try to rip you off like crazy. Porsche is among the worst cars to lease but this deal is something else!! Take your time and don't rush. Call up porsche dealerships in your area and ask them for a quote. Some dealerships give leases with US bank which has slightly better rates but most people dont recommend us bank, since returning the car with them seem to be quite complicated. Good Luck!
john981 is offline  
Old 07-12-2019, 09:57 PM
  #11  
Jsatsunset
User
Thread Starter
 
Join Date: Jul 2019
Posts: 10
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by alex2364 View Post
So you're basically paying $1354 per month (including down payment) on a $77k car. That's a terrible deal. You should just finance the car for 72 months if you want a low car payment.
Originally Posted by gatorfast View Post
That is a brutal lease deal
Originally Posted by The Pinkoboe View Post
To say this deal is a ripoff is a complete understatement.

Doing some quick calculations, this deal is the equivalent of buying the car at full MSRP and financing it at 9%. My advice is to not even talk to this dealer further, and to do research on how leases work before you jump into something. Leases can be great, but they are also great ways for dealers to screw over the uninformed.
Originally Posted by john981 View Post
Average lease in California for boxster is around 5-6k down and 700 plus tax, 10k miles 36-39month. Some of them have even 2 years maintenance included. Dealers give 3-9% off of MSRP, you have just to ask for it and push them a little. I was not sure how serious this deal was, but they try to rip you off like crazy. Porsche is among the worst cars to lease but this deal is something else!! Take your time and don't rush. Call up porsche dealerships in your area and ask them for a quote. Some dealerships give leases with US bank which has slightly better rates but most people dont recommend us bank, since returning the car with them seem to be quite complicated. Good Luck!
Thank you all. I am not going to talk with him any more. I would have made a bad decision without your advice. Now, I am considering buying one instead of leasing it. Thank you for your help again.
Jsatsunset is online now  
Old 07-12-2019, 10:04 PM
  #12  
john981
User
 
Join Date: Oct 2018
Posts: 164
Likes: 0
Received 1 Like on 1 Post
Default

Originally Posted by Jsatsunset View Post
Thank you all. I am not going to talk with him any more. I would have made a bad decision without your advice. Now, I am considering buying one instead of leasing it. Thank you for your help again.
What area are you from? Maybe I can help you and look up for some better deals. Definitely run away from this people, these are rates for a panamera or 911 but not 718.
john981 is offline  
Old 07-12-2019, 10:16 PM
  #13  
Jsatsunset
User
Thread Starter
 
Join Date: Jul 2019
Posts: 10
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by john981 View Post
What area are you from? Maybe I can help you and look up for some better deals. Definitely run away from this people, these are rates for a panamera or 911 but not 718.
I am located in South TX. The closest dealership is in San Antonio, which takes 3hours 30mins to get there. The above deal is from one of the Houston dealerships.
Jsatsunset is online now  
Old 07-12-2019, 10:28 PM
  #14  
john981
User
 
Join Date: Oct 2018
Posts: 164
Likes: 0
Received 1 Like on 1 Post
Default

In Houston there are 3 porsche dealerships and I know one of them is really bad. dont remember which one it was but I recall to have read several bad stories in the row about one these dealerships out there. Independent of that, I have found the following deal. It is not brand new (executive demo) and is not saying anything about the miles but I think that is not a bad deal. Is a boxster s msrp 91k/ selling price 68.5k . 39 month/10k 7500 down/ 679. Even when you would devide the downpayment over the period of 39 month, you would be around 950 including tax with potential 1000-2000 drive offs. Again, this is not a brand new car and it is yellow, but it is the S model and they give you 22k off the msrp. Just an example, I will look further and post you more deals later tonight.

https://www.momentumporsche.com/specials/new.htm

https://www.momentumporsche.com/new/...8f7ad908c7.htm
john981 is offline  
Old 07-12-2019, 10:43 PM
  #15  
Jsatsunset
User
Thread Starter
 
Join Date: Jul 2019
Posts: 10
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by john981 View Post
In Houston there are 3 porsche dealerships and I know one of them is really bad. dont remember which one it was but I recall to have read several bad stories in the row about one these dealerships out there. Independent of that, I have found the following deal. It is not brand new (executive demo) and is not saying anything about the miles but I think that is not a bad deal. Is a boxster s msrp 91k/ selling price 68.5k . 39 month/10k 7500 down/ 679. Even when you would devide the downpayment over the period of 39 month, you would be around 950 including tax with potential 1000-2000 drive offs. Again, this is not a brand new car and it is yellow, but it is the S model and they give you 22k off the msrp. Just an example, I will look further and post you more deals later tonight.

https://www.momentumporsche.com/specials/new.htm

https://www.momentumporsche.com/new/...8f7ad908c7.htm
Thank you very much for your help. That sounds like a very good deal. However, I am looking for a manual car.

Last edited by Jsatsunset; 07-12-2019 at 11:37 PM.
Jsatsunset is online now  

Thread Tools
Search this Thread

Contact Us - About Us - Advertising - Cookie Policy - Privacy Statement - Terms of Service

© 2019 MH Sub I, LLC dba Internet Brands

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.
 
  • Ask a Question
    Get answers from community experts
Question Title:
Description:
Your question will be posted in: