johnhb1234

Hi,

After a post a few months ago I have gone from trying to decide if I want a Cayman or a 911 and have gone all the way to now settling on a 911 Turbo S.
It seems this forum has shown me why Porsche is great.

I have visited a few dealers and one of the sales reps showed me his book for leasing with a money factor of .00221 up to 42 months and .00238 for a 48 month lease. The other dealer showed me a money factor of .002 for up to 42 months and .00217 for 48 months. Why the difference?

I'll add that apparently Porsche Financial Credit uses Transunion and my FICO 8 score is 725 and my FICO 8 and 9 (newest version) for auto loans are about the same. I found out from this forum that Porsche uses Transunion and I subscribe to myfico.com because another member pointed out that there are different FICO scores that leasing and mortgage companies use and I wanted to see exactly where I am.

A side comment one of the sales reps made was that while Porsche offers 2.49% as a best rate for financing, he said the rate would more likely be 2.69% and this was before I told him my FICO score was a little less than the 740 typical for the tier 1 Porsche finance rate. I have large enough liquid assets and money market accounts that I suspect I can get the best or close to the best rates Porsche Financial offers.

Any comments? Why would two dealers have different money factor rates when they are both using Porsche financial? I asked the sales rep at the dealership if they have the ability to mark it up and he said they don't.

I have not let a dealer run my credit yet because I am about to start the process of getting the best price and will run this by 4 - 5 dealers.

Any additional recommendations on getting the best price is appreciated. I simply was going to tell each sales rep that I have visited to give me their best price on the build I have created because I have several dealers looking for my business.

Thanks,

John

Amber Gramps

I would post this thread in the Turbo S forum.

My only comment is that dealerships are privately owned and operated businesses that have several ways to make money off of the same customer. Sale price, skimming interest, maintenance, parts....Not all dealerships are created interest.

theiceman

Yeah didn't understand a word of this but sounded like he didn't need technical help on an air cooled car ...

Charles Freeborn

Best deal? Cash.

Spyerx

with sub 2% financing... that's debatable :-)

To the OP, go post this in the 991 section.

To answer your question: dealers may get different lease companies to quote. dealers can also add margin to money factors (equivalent of finance fees for leases).

Freddie Two Bs

fyp

sccchiii

Dealers on certain leases are allowed participation (M/F spread). It works the same as conventional financing....buy rate might be 1.79 and dealer sells to you at 3.79%. I believe PFS just starting allowing specific programs some M/F mark up to dealers.

73911

Sub Prime financing is the hot ticket right now. The largest dealer in our area specializes in bad credit risks. He makes his money from the bank.

Richard Newton

Amber Gramps

I was shocked at the low interest rate I was given when I purchased my TRD in '14. Hadn't purchased anything on credit in the previous 7 years and still don't have credit cards. We didn't exactly pay off the Porsche as we were supposed to way back then as we paid of the 5 year loan in 10 months. I think the auto finance industry is doing what the home loan industry did....and it's likely going to end the same way.