Magnus357

I'm looking to get into my first Porsche. I'm looking at a lease, which I normally don't do because the leasing laws in Texas suck, i.e. I have to pay sales tax on the vehicle price not the lease payment. I've been negotiating with a dealer and the best I can do is 3% off MSRP on a C2S coupe. They're offering 94K of "tax credit". I'm not sure if this will stack with the trade value of my current car. They won't convert the "tax credit" to a MSRP discount, which is weird because I'm pretty sure that someone has to pay the taxes, so whether it's a "tax credit" or MSRP discount, it's just a cap cost reduction. The discount they've offered, after a few rounds of negotiating, is for a car that's on the lot. They are claiming that there's not too many C2S coupes around, apparently a lot more cabs. They're also being really squirrely on the money factor. 0.002 is the Porsche rate correct? I have great credit ~790, so I should be able to get this rate, right? Thanks in advance for any info you can give.

LexVan

2013 or 2014?

kitwetzler

RE Money factor, 0.00200 is the base rate. Depends on how much profit taking there is. I've found that some places were discounting the car below invoice (clearly using trunk money) and then keeping in the black by using a MF markup. I paid 0.00015 over base rate to get a 22% discount on a leftover 2013.

I would expect that with a new 2014, with a less than 7% discount, you should be able to get the base rate.

Magnus357

2014. The residuals for the 2013s have collapsed.

Magnus357

I appreciate the input. I feel the same way. I really don't like when a dealer makes fake deals by inflating interest rates.

mb97tts

Those lease rates are pretty high in comparison to other makes.

Of course Porsche has no need to do any subvented lease rates.

Magnus357

The residuals are kept high, but the interest rates are inflated by about 2%.

mtbscott

Not sure where in Texas you are. I've dealt with two of the three Houston area dealers, and while both of them have been very nice to me, they squirm a bit before making an acceptable deal.
One thing that I find interesting in your first post is the ratio of coupes to cabs. They aren't lying, but I wonder why that is? I'm not a cab guy either and when I was looking there also seemed to be lots more 'verts around. Not sure if the dealers order them that way, or if PCNA allocates them that way thinking that in our warmer climate they would sell faster.

Magnus357

I'm in Houston as well. I'm working with Porsche North Houston.

I agree with you on the cabs being over represented. It doesn't make a lot of sense, but maybe they're just not selling a sitting on the lot as more allocation comes in.

mtbscott

I know lots of people have had great experiences at North but mine wasn't. I started with them, and while the price offered for their new lot car was good, they insulted me with their trade in quote for my other car. Momentum gave me a similar discount, and a significant $12K more for my trade in.

Magnus357

Can anyone confirm the current Porsche Financial money factor? My understanding is rate is 0.002.

The dealer is offering Tier 1 factor of 0.0026.

Having a dealer make back end money pisses me off. They're car dealers, not banks. Make what you need on the car not the financial instrument.

mtbscott

Yikes! Either one of those seems mighty high for a money factor when you can get 1.9% on a finance deal anywhere these days.

mb97tts

And is even more silly to openly say you will discount the car but markup the rate

genxr

I understand leasing, but have never done it. Can't you shop around a lease like you do a loan?

Sometimes it's simpler to take financing and trade in amount out of the equation with the dealer.

Magnus357

The trick with leases is that Porsche Financial offers the best. Typically they're subsidized just enough to keep other financial institutions out of the game for people with good credit.

What happens in reality, is that the dealers play with the multi-step math problem to attempt to screw their customer. I actually had the dealer I'm working with ask me if I work in the financial sector, spoiler. . .I don't. But I can add, subtract, multiply, and divide! I'm only going the lease route as a result stress I went/am still going through of dealing with a depreciated value claim on my current car.