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

HelpMeHelpU

Though rates have been fairly static lately, it's possible one dealer was using an older or newer rate sheet.

Depending upon locale, it's also possible different regions have different rates.

Just my best guesses.

GLWP!

johnhb1234

One dealer was on Long Island, the other dealer was in NJ. I also plan to have a dealer in MD give me a quote. Does that change anything?

Thanks,

John

Bloose993TT

Porsche Financial will set a base money factor rate at the beginning of the month for each model (same across the US). Dealers can mark up the money factor and acquisition cost ($995 base) legally up to a certain percentage.

Keep in mind money factors can change month to month. If you are special ordering a car I'm pretty sure you can't lock down your lease rates. Work on negotiating the sale price of the car. When the car comes in you will use the lease rates offered for that month.

sp330

Dealers can mark up the acquisition fee like bloose said. They can also mark up the money factor a little.

.002 is the standard money factor for Porsche so I would deal with the dealer who gave you that number unless the other has the car you want and need it fast.

Wildcat

Hope you get a good deal. I was also shopping around the dealers in Los Angeles and most of them would not budge more the a 5% discount on a new 991.2 tts.