lease negotiation help
11-02-2014, 06:27 AM
#63
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Just a word of advice...reducing the cap cost with a down payment on a lease is a terrible move. In the event your car is totaled or stolen, that money is gone. Imagine putting 5k down and in 6 months your leased car is stolen and not recovered or somehow damaged and totaled by your insurance company, you just lost 5k. Unlikely of course, but possible.
Even though PFS money factors aren't the greatest out there, you're still best off doing a "sign and drive" lease. Don't even bother with making the first payment up front. Any money you pay up front is potentially lost. Also, if you early terminate your lease, the same rules apply.
I am about to go from a 27 month lease on a 991 Carrera S to a 991 Turbo S. Car is ordered and should arrive in just before the end of the year. I will have 12 payments remaining in December. Porsche has a program that forgives up to 12 payments if you move into another lease. If I had spent any money to reduce my monthly payment amount, that money would have been wasted since I will not make my last 12 payments. Just my .02 worth.
Even though PFS money factors aren't the greatest out there, you're still best off doing a "sign and drive" lease. Don't even bother with making the first payment up front. Any money you pay up front is potentially lost. Also, if you early terminate your lease, the same rules apply.
I am about to go from a 27 month lease on a 991 Carrera S to a 991 Turbo S. Car is ordered and should arrive in just before the end of the year. I will have 12 payments remaining in December. Porsche has a program that forgives up to 12 payments if you move into another lease. If I had spent any money to reduce my monthly payment amount, that money would have been wasted since I will not make my last 12 payments. Just my .02 worth.
11-04-2014, 09:56 AM
#64
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24 - 66%
27 - 64%
30 - 62%
Add 2% for 12k per year to the above standard 15k residuals.
Add 3% for 10k per year to the above standard 15k residuals.
Add 4% for 7.5k per year to the above standard 15k residuals.
Add 5% for 5k per year to the above standard 15k residuals.
Not 100% sure on the MF, but I believe you're safe at .0021
11-10-2014, 05:33 PM
#65
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911 C2 Cabriolet S (MRM is $134,200, add $4,080 if PDK, but deduct 1% from residuals as well)
24 - 66%
27 - 64%
30 - 62%
Add 2% for 12k per year to the above standard 15k residuals.
Add 3% for 10k per year to the above standard 15k residuals.
Add 4% for 7.5k per year to the above standard 15k residuals.
Add 5% for 5k per year to the above standard 15k residuals.
Not 100% sure on the MF, but I believe you're safe at .0021
24 - 66%
27 - 64%
30 - 62%
Add 2% for 12k per year to the above standard 15k residuals.
Add 3% for 10k per year to the above standard 15k residuals.
Add 4% for 7.5k per year to the above standard 15k residuals.
Add 5% for 5k per year to the above standard 15k residuals.
Not 100% sure on the MF, but I believe you're safe at .0021
11-10-2014, 11:07 PM
#68
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Location: Redmond, WA
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I wonder how the lease pull-ahead programs deal with miles driven? Say I get a 24m lease with only 5k mile to take advantage of the higher residuals and lower payments - but then drive 20,000 miles in the first year - does the lease pull ahead program also cover the excess milage? I assume it would (up to $30k)....
If this is the case, it makes even more sence to get a low milage lease - like 5k miles....
If this is the case, it makes even more sence to get a low milage lease - like 5k miles....
11-11-2014, 01:47 AM
#69
Rennlist Member
I wonder how the lease pull-ahead programs deal with miles driven? Say I get a 24m lease with only 5k mile to take advantage of the higher residuals and lower payments - but then drive 20,000 miles in the first year - does the lease pull ahead program also cover the excess milage? I assume it would (up to $30k)....
If this is the case, it makes even more sence to get a low milage lease - like 5k miles....
If this is the case, it makes even more sence to get a low milage lease - like 5k miles....
11-11-2014, 11:47 AM
#70
Three Wheelin'
Just a word of advice...reducing the cap cost with a down payment on a lease is a terrible move. In the event your car is totaled or stolen, that money is gone. Imagine putting 5k down and in 6 months your leased car is stolen and not recovered or somehow damaged and totaled by your insurance company, you just lost 5k. Unlikely of course, but possible.
Even though PFS money factors aren't the greatest out there, you're still best off doing a "sign and drive" lease. Don't even bother with making the first payment up front. Any money you pay up front is potentially lost. Also, if you early terminate your lease, the same rules apply.
I am about to go from a 27 month lease on a 991 Carrera S to a 991 Turbo S. Car is ordered and should arrive in just before the end of the year. I will have 12 payments remaining in December. Porsche has a program that forgives up to 12 payments if you move into another lease. If I had spent any money to reduce my monthly payment amount, that money would have been wasted since I will not make my last 12 payments. Just my .02 worth.
Even though PFS money factors aren't the greatest out there, you're still best off doing a "sign and drive" lease. Don't even bother with making the first payment up front. Any money you pay up front is potentially lost. Also, if you early terminate your lease, the same rules apply.
I am about to go from a 27 month lease on a 991 Carrera S to a 991 Turbo S. Car is ordered and should arrive in just before the end of the year. I will have 12 payments remaining in December. Porsche has a program that forgives up to 12 payments if you move into another lease. If I had spent any money to reduce my monthly payment amount, that money would have been wasted since I will not make my last 12 payments. Just my .02 worth.
11-11-2014, 01:47 PM
#71
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An additional tidbit is that if you either love your car and want to buy out the lease, or want to sell it before the lease ends and capture any gain between the residual and market price, the buyout price is only the portion of the lease that covers the depreciation. The Rental Fee and taxes are excluded from the buyout. (Say your lease is $1,000 a month. The depreciation cost may only be $600 so if you buy out 12 months of the lease it will only be 12*$600 = $7,200 and not 12*$1,000 - $12,000)
11-17-2014, 11:51 PM
#74
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For those that don't know Drive off payment means: first month payment, license and registration.
11-18-2014, 02:00 AM
#75
I think that dealers love to lease cars for a variety of reasons, but I expect that the primary reason is the arcane language in leasing contracts. There are acquisition fees, purchase option fees, disposition fees, fees for cars returned in less than pristine condition, etc. A friend of mine even had to pay $25 for a "tire fee" when he returned his Infiniti. I suspect that dealers believe that if they keep the fees low, no one will object. So there are lots of ways dealers can bury hidden charges in a lease.
There are undoubtedly a lot of experienced lease experts on this forum that negotiate great leasing deals. In my case I always pay cash and conduct 100% of my negotiation via email. I custom order my car and agree to pay X dollars over the invoice price which the dealer confirms via email. The only other fees are a documentation fee and tags and taxes. So I know down to the dollar the total amount I will pay for my car before I travel to the dealership to order the car and give them my deposit. Just wondering if any lease deals are negotiated in that manner or are the dreaded face to face haggling still an integral part of the leasing process.
There are undoubtedly a lot of experienced lease experts on this forum that negotiate great leasing deals. In my case I always pay cash and conduct 100% of my negotiation via email. I custom order my car and agree to pay X dollars over the invoice price which the dealer confirms via email. The only other fees are a documentation fee and tags and taxes. So I know down to the dollar the total amount I will pay for my car before I travel to the dealership to order the car and give them my deposit. Just wondering if any lease deals are negotiated in that manner or are the dreaded face to face haggling still an integral part of the leasing process.