Seahawkeye

Hello. I am on the verge of being a 991 owner. I am new to the Porsche brand, thus I like the idea of leasing to avoid any long-term commitment. I am debating taking over someone else's lease which is great because there are next to no drive offs. I figure in this case someone else put down $5-7K on my behalf. Please let me know if this seems like a good situation for those of you who leased you car. Here is the link:

http://www.swapalease.com/lease/deta...x?salid=905095

STG

It's a 102K sticker base model Carrera.

That's the same deal you could probably get on your own. 21 months? Yikes. That's a long one unless you're looking for a long lease. In that case, I'd lease directly from Porsche. They usually have pull ahead deals at the end that let you get out early to lease another car. Sometimes I think it's like 6-8 months early?

Not a lease fan here, as I found them to be more than the depreciation and I like to mod my cars.

It is very convenient though and no strings which is a plus!

Seahawkeye

I like no strings. Reminds me of dating! Lol. I am also evaluating just buying a low mile 12-13 C2S. I know on this site there are few fans of the base model. Hey I find 350 hp to still be plenty, but I know I will ultimately look to an S in two years. This is why I have been thinking about it too long... the more I read the forums the more info I get this the more I have to think about. I think the C2S is one of the very few cars I could keep long term.

STG

If that's the way you feel, go for the S right away. No use losing money on a car that you're going to want to trade in a year or two later.

There are fans for everything out there. Buy what you think you really want. If you even think about I'll get the S later, just get it now. You'll save yourself a lot of $$$ not having to trade up later.

Take the dive now. It will be less painful in the long run.

Buy a 12-13 991S, and your monthly loss will be less than any lease on a new car.

Seahawkeye

Buying what I want can be very dangerous. I really want a McLaren P1, but I would settle for a GT3. Anyway, I think I am going to hold on leasing anything. It seems stupid to spend $25K leasing a base C2 for 21 months when I could apply the money to a CPO C2S. It's just a bit of a challenge to find a low mile C2S at what I believe is a fair price. All of these cars appear to hold value above the residual estimated by PFS.

STG

Be patient something always comes up. I was looking for a year. There are new cars being listed every day. Cars are easy to ship, and airline tickets aren't that expensive. When spending that much money, you should have a wide geographic area open.

http://m.cars.com/?KNC=LedGogBRDnsNm...FY-EaQod3UEAiA

Salespunk

That is not such a great deal. Figure 6% off a $102K list car is $1250/mo with just drive offs at the base MF of .002. So $100/mo more and you can pick your options/color and have a 0 mile car.

Tcc1999

Unless PFS have changed their protocol, I just can't believe anyone would try lease swapping - that is turning overvtheir lease to another party. My experience with PFS, up to three years ago, is that they do not transfer a lease. That is, they will add a new lessee as secondary but the primary lease holder stays on the lease and is 100 percent responsible for any lease end costs if the added buyer walks away or refuses to pay. So, if you turn over your PFS lease you are trusting someone you don't know to take care of the car and pony up any of the costs at the end of the lease. That is a big leap of faith (e.g. If someone leases your Porsche from you, totals it without insurance and walks away you'd really be screwed). There may also be issues at the end of the lease if the secondary lessee wants to buy the car but on that topic I have no first hand knowledge.

I can't comment on whether it is a good deal or not but if you do end proceeding I would strongly suggest that you call PFS and find out what your rights and responsibilities are as a secondary lessee. You may find that PFS, not looking favorably on such transactions, makes is so burdensome to all involved that such a transaction just isn't worth it.

TheEngineer

A couple of thoughts:
Has it had the 10k service? Someone who is looking to exit a lease may not be on top of servicing the car. Also, it could be close to needing tires (at least rear ones) from what I have read on the forums.

From a financial perspective this does not look like a great deal. Assuming it was a 36 month lease, the original lessor (did I spell that right?) used a disproportionate share of the miles. At the same time, the first year depreciation hit is the largest, perhaps 40% of the total depreciation over the lease term, but they did not pay 40% of the total lease cost. Since they are over the monthly mileage, they really got the benefit of perhaps 45% of the depreciation and are asking you to pick up part of the tab.

Another way to look at the financial side of this is the following. If you did acquire the car at the end of the lease, your total outlay for the car will be about $90k. With some searching, you can find a similar CPO car for less money and you will have a better warranty as a bonus. As an example, I just bought a virtually identical CPO 2014 with only 1,200 miles on it for significantly less than $90k.

TheEngineer

A quick search yielded this CPO option. Similar equipment, asking $83k.
http://ucl.porsche.de/ucl/plsql/usa/...&pnr_=1&lnr_=1

blschaefer1

No Sport Chrono on this car. Th swapalease car has it.

I actually think the lease deal is decent. It appears the lessee if offering a $2k incentive to the assuming party. This effectively drops the lease payment to $1k per month for the remaining 21 months. Not bad with zero out of pocket. Residual is right at 64%. If the car is clean and had had the 10k service I'd say go for it. You could upgrade to an S once the lease is up if you really like the 991.