Lease rate and residual for 991
#32
#33
My credit union will go as low as 1.74%. www.necu.org
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....
#35
Rennlist Member
#36
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?
#37
Pro
Thread Starter
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.
I am also wondering if you have a good relationship with this dealer, so they are willing to give you the buy rate.
#38
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.
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.
#39
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.
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.
#40
Pro
Thread Starter
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.
I can only conclude that Porsche Leasing is giving the dealer room to add on more profits.
#41
Pro
Thread Starter
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.
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.
#42
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.
I can only conclude that Porsche Leasing is giving the dealer room to add on more profits.
#43
Pro
Thread Starter
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.
#44
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.
I can only conclude that Porsche Leasing is giving the dealer room to add on more profits.
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.
#45
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.
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.