19_hole

They will do up to 100% of the MSRP, providing your credit rating will allow it.

sapman

Pretty good. Just had a look at Navy Fed where I am already a member and they are very close.

slowlane

Rates include .25% discount for payments made through payroll deduction or automatic transfer from another NECU account, plus .25% discount for an active Northeast VISA credit card. "Active" defined as having a transaction (purchase, cash advance or payment) in the last 90 days. And, .25% discount for having eChecking or Relationship Checking with eStatements and an active Bill Pay account. "Active" is defined as having used Bill Pay in the last 3 months.


still 2.5% isnt bad....

Keadog

Looks like I don't live in the right zip code to join...

Michael_s

Aweful MF. Equals 6.96%. I have gotten a P dealer down to .0020

slowlane

what are your thoughts on the residual %s?

I will push for the absolute best deal i can get and will publish when i do, but i'd like to know in which direction to head.

i assume you have leased or are shopping to lease a 991. what have you seen as far as discount off msrp and residual?

hlee1169

With the same residual, 61% for 36 months, 10K miles, on a Carrera S? Just want to confirm.

I am also wondering if you have a good relationship with this dealer, so they are willing to give you the buy rate.

gerenb

My dealer told me early on that the lease terms are fixed by Porsche and everyone gets the same money factor, etc... I am finding that is not the case. Now that my car has been ordered and will soon be delivered, I have very little leverage with them.

If I had known the lease terms were negotiable, I would have fought the battle at the time the order was placed. I basically made it clear to them that I'm unhappy they misrepresented that fact. They told me they would "work with me" when the car arrives.

slowlane

i still want clarity on the residual. is the residual set by porsche or is it negotiable?

2 different dealers quoted different residuals for the same car for the same term.

im getting ready to sit down with these boys and appreciate all the help i can get.

hlee1169

gerenb and slowlane, I am also getting ready to negotiate, but I need all the info I can get. As I have stated earlier in this thread, Porsche Leasing won't give me the numbers and refer me instead to the dealers. I thought this is really interesting because even if the interest rate depends on each individual's credit rating, residual should be identical for the same model.

I can only conclude that Porsche Leasing is giving the dealer room to add on more profits.

hlee1169

It's too bad you did not hash out the financing terms with them before placing the order. Perhaps you could check outside banks for better terms? Or sorry to say this, just walk (assuming you have a refundable deposit).

gerenb

AFAIK, a good deal on the lease for 36 months, 10,000 miles would be a money factor of .0020 and a residual of 60%. A not-so-good deal on the lease would be a money factor of .0029 and a residual of 58%. If you can get somewhere in the middle, you are probably getting a decent deal.

hlee1169

Thanks for the info, although it bothers me that whatever deal you've negotiated could have been negated by the dealer on the residual alone, not to mention the MF.

sapman

From what I have seen with other Manufacturer's financial arms, the dealer is given a set residual that cannot be changed and a money factor that they can move up for added profit.

On Edmunds.com there's a forum on which one of the edmunds moderators will give you the residual and 'buy rate' money factor that the dealer has for any car. If I were you, I would go on there and get this information. I would then go back to the dealer and insist on getting these. Since you were told that Porsche sets the rates, they shouldn't have a lot to go on. They are already making a fat profit selling these at MSRP.

gerenb

I agree that the residual should be fixed and the money factor could be adjustable. From the many posts floating around the forums, however, it seems they are playing with both numbers. I will attempt to contact an Edmunds mod. to get further clarification.