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Buyout of Lease

 
Old 05-21-2018, 08:51 PM
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madmax911t
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Default Buyout of Lease

Hey all,

Quick few questions for the knowledgeable group that you are. I've read prior threads but can use some updated and specific info. Pre-thank you!
  1. I'm buying out my 911 lease after 30 months. Dealer says we need to do a "safety" inspection beforehand, but hasn't said much else. Is this something normal?
  2. I'm being asked if I want to buy an extended warranty. 3 years = $5,300, or 4 years = $5,700. I don't know details about the warranty but it sounds like an equal extension of my current (that runs out in 18 months). Do you guys think this is a good deal? I need to get more specifics from them to understand what it includes.
  3. Do you know if it's possible to extend your warranty AFTER purchasing the car from the dealer, but BEFORE my current warranty runs out? I'm assuming I can, but my current dealer rep keeps saying "do it now, do it now."

Thank you!
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Old 05-21-2018, 09:33 PM
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ENCT
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Can the dealership buy out the lease, CPO the car and sell it back to you? Maybe they would do this for a small fee. CPO may be less expensive and offer more coverage? Not sure, just a thought.
Eric
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Old 05-21-2018, 09:40 PM
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madmax911t
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Great question, I'm not really sure how it can work out. I can ask my rep and see what he thinks.
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Old 05-21-2018, 10:24 PM
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AnandN
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1. Never heard of a safety inspection on a lease buyout. If it was serviced and maintained by them why does it need any inspection at all?
2. From what I know, Porsche does not sell extended warranties. They are through other insurers and you have to read the fine print to see if it is worth it to you. Personally, I don’t think they are worth the money. Pay as you go and take care of the car is my motto.
3. I was told when I bought my new car that I could buy an extended warranty before my Porsche warranty ran out (in 2021). I don’t plan to buy any extended warranty.
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Old 05-22-2018, 12:58 AM
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I am buying out my car's lease as well, in late October. My SA mentioned CPO'ing the car. Not sure how it works - I am sure someone on RL does - but it makes a lot of sense. That would extend the warranty and would give future buyers (if you decide to sell) the confidence of knowing the car is CPO'd. I spoke briefly about this with him several months ago but I did not go into specifics as my lease end was still a way off. As I can recall, he mentioned that I would simply pay whatever it costs the dealership to CPO the car, plus the buyout amount. Not sure if this is accurate because it almost sounds too good to be true. I would imagine the cost of CPO'ing may be comparable to the price of an extended warranty as it is an extended warranty. Happy to post more information in a few months when the time comes to buy the car.
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Old 05-22-2018, 06:42 PM
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Yes, yes, and no.
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Old 05-22-2018, 07:43 PM
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I'm facing the same dilemma 10/01/18. I SA quoted me an approximate cost for a CPO of $2.2K. PLUS tires, brakes, and fluids which could be an additional $2.5K. He said it has to have the new brakes, tires and fluids to pass the CPO. The CPO will extend the warranty to 6 years or 100K miles.
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Old 05-22-2018, 07:51 PM
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2010panny4S
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For my wife's 2012 Cayman R, it's CPO finished so we purchased a Fidelity Ext. warranty. 7 years I believe.
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Old 05-22-2018, 08:59 PM
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spiderv6
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Originally Posted by GTOWN83 View Post
I'm facing the same dilemma 10/01/18. I SA quoted me an approximate cost for a CPO of $2.2K. PLUS tires, brakes, and fluids which could be an additional $2.5K. He said it has to have the new brakes, tires and fluids to pass the CPO. The CPO will extend the warranty to 6 years or 100K miles.
it only needs those things if it needs them (ie if they are out of cpo spec) - they are not automatically done for cpo. how many miles are on the car? new brakes - really??
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Old 05-22-2018, 09:24 PM
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Originally Posted by spiderv6 View Post
it only needs those things if it needs them (ie if they are out of cpo spec) - they are not automatically done for cpo. how many miles are on the car? new brakes - really??
4mm for tires, 50% for brakes and fluid if due by time.
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Old 05-23-2018, 11:13 AM
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MJG911
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CPO is now unlimited mileage, although I think only a Macan, Cayenne or Panamera would see over 100k in 6 years
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Old 05-23-2018, 04:46 PM
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Originally Posted by 2010panny4S View Post
For my wife's 2012 Cayman R, it's CPO finished so we purchased a Fidelity Ext. warranty. 7 years I believe.
...and these can be refunded pro rata if you sell without transferring it to a new owner.
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Old 05-23-2018, 06:31 PM
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How much did you pay for the Fidelity warranty and was that 7 years from now or from the in service date?
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