RaceCarDriver

looked at an dealer demo 2007 Boxster S. The car has 1,900 miles. The sticker is $63.3k and I can get it for $54k. Is this a good deal?

If I lease it for 5yrs, with 12k miles per year with $5k total out of pocket, my payment would be $717 per month (this includes sales tax, etc.) Does this sound like a good lease payment?

thanks

G

MUSSBERGER

What is the residual value?

RaceCarDriver

I don't know, I have to find out, the lease is through porsche.

Is this a good price $54k?

ELUSIVE

$54K sounds like a pretty good deal. That's 15% off sticker.
I'm always somewhat cautious about buying a demo car though as it's difficult to know how it's been driven. Can you have the porsche dealership run a report of the engine revs? Was it broken in properly?

5 year lease sounds like a long time! Are you extending out the lease to drop the payments? Have you considered what the monthly payment would be to finance it for 60/72/84 months?

Also...is this a CPO car? Will you have warranty for the duration of the lease? I've learned to never lease a car that's not in warranty.

SKM

Seems slightly high to me although there are few data points to draw on and I do not know where you are located. Wholesale auction would be about $48,500and high retail $52-53K. The season is coming to a close in many parts of the country so demand is soft.

RaceCarDriver

I am in New Jersey

RaceCarDriver

I want to get the payment as low as possible. I have an 02 C4S that I own free and clear (I'm keeping it) and the Boxster S would replace my 05 Audi S4. I want to keep the payments as close as possible to my current lease, which is $579 a month.

If I finance the Boxster S for 60 months, my payment would be over $1,000 a month. With 72 or 84 months, I would be upside down on equity for most of the term.

This car would be sold as a new car. 4yr 50k warranty would start the day of purchase

ELUSIVE

With a 5 year lease you'll be upside down for most of the term as well.

Endaar

Make sure that's true. A demo will be titled as a new car, because it's never been registered. But typically the car will be "in service" once it becomes a demo, and that's when the warranty would start - not when you take delivery.

Hard to say on the price - doesn't seem to be much out there in an S.

fast1

I believe that the only penality that you get on a warranty on a typical demo is fewer miles. Manufacturers will sometimes offer significant incentives on cars sold in a particular time frame. In order to lock in that discount, a Dealer may take ownership of that car, and the warranty clock starts ticking at that point. A couple of months ago, I was interested in an '06 Z4 M and although the car only had 25 miles on the odometer, the warranty period began in December 2006.

Endaar

I can only speak from experience with GM vehicles, but that's not the case. You'd lose the time as well.

Not saying it doesn't happen, but that's the kind of stuff you can lose an auto franchise over.

Endaar