sampelligrino

Hey fellas

First post, long time lurker

Thinking about pulling the trigger on a new 2015 C4 that has been sitting in the dealer's showroom for quite some time. I like the idea of leasing for the flexibility of simply turning it in at lease end and for the shorter-term commitment, but I am unsure if it ever makes sense here. I know that it all depends on the terms of the lease so I was hoping to post the details here and get your thoughts.

I really do like the attractiveness of buying new vs. CPO and I am on the hunt for a C4 (want AWD, don't care for the "S" models)

It's fully loaded at 116k MSRP, they are offering a 15k discount at a sale price of 101k right out of the gate (haven't negotiated them lower yet)

I offered to commit the cardinal sin of putting money down on a lease, 10k to be exact

For 36mo, 7500mi/yr lease:

Residual is 51%
MF is 0.002
Assignment Fee is $995
License & Title Fee is $75
Upfront and Monthly Tax is 9.6
Additional Cash Down is $7573.68 (I guess first month payment + fees is wrapped up in the 10k down)

Base monthly payment of $1481.98
Monthly tax is $142.27
Total monthly is $1624.25 (seems high)

I know that there is a PenFed super saver payment structure which is somewhat popular here or I can likely get 2.3% financing via PFS, but I'm still somewhat attracted to leasing if it can make sense..

Your thoughts would be greatly appreciated, thanks

Sammy

STG

$1,600 a month with $10K down and only 7,500 miles a year for a base model??

You must not like money.

Buy a used C4S between $80-$90K and have a lower payment and have something to show for it. Plus it will be optioned a lot better too!

Welcome by the way! Check out "hot for sale" too!

plenum

Have to agree with STG!!!! Waayy too much into the car for a '15 C4 base. You can find 14's and maybe an odd 15 out there right now with less than 10k miles for another 20k less than the one you are looking at. Also, keep in mind that the warranty start on that 15 may mean you have already "lost" a year in warranty coverage (depends on in-service date).... Why you don't want CPO is beyond me, as CPO will extend your warranty years beyond the lease term.

GT325

Terrible deal. Don't lease 2015. Residual too low.

duxsi

The Gods have spoken (and these guys know what they're talking about.)
It is a great deal for the dealership, but a terrible deal for you.

Take a look at STG991's "Hot for sale pick of the week!!" sticky thread.
An excellent resource for prices and availability, and also don't be afraid to look out of State.
Good luck..

STG

I give you credit for asking first before signing your life away.

To put this in perspective, you'd be leasing a $100K base model that will cost you $67K over 3 years

Cherryblock

I just bought a new 15 C4 as my DD, MSRP was 106, PP was 89K, financed at 2.4 percent over 60 months - nothing down, payments 1600 per month including tax title etc. If you're intent on new ( I generally lean new knowing I'll pay more than a CPO) buying vs leasing is a no brainer for me. I hope this helps - good luck!

CSK 911 C4S

CPO is the way to go.

Enjoy the hell out of it for less $$ out of pocket.

Keep it for 3 years and sell it with a bunch of warranty left and come out ahead.

Archimedes

Agree with everyone else that this is a bad deal.

On a related topic, where are you guys getting 2.4% interest on your new cars? PFS? I saw are rate like that referenced in a dealer ad, but when I mentioned it to my dealer related to my Spyder, he said no way. And I'm putting 30-50% down, with an 840 FICO score.

Inbyten

If you're a member, USAA offers new car rates as low as 1.5%. Their used rates are as low as 2.25%, but I was able to get them down to 2%. A Porsche dealer in VA offered me a rate on a CPO car of 1.89% thru a local bank.

Cherryblock

With your Fico you should be getting the same as I get/ regional banks not PFS will do those terms

tgcrun

While I agree that the proposed deal doesn't seem to make sense, I have to disagree with those telling you to buy CPO. If you want a new car, get a new car. Some of us just don't want a car that someone else was driving for the past two years and are willing to pay the premium. As for leasing vs buying, that subject has been beaten to death on this forum. It depends on your tax situation and whether or not you'd rather use your cash for more lucrative purchases. As you mentioned, the convenience of just being able to give the car back at the end might have value to some. I own my personal cars (wife's 997, son's Focus), but I lease my 911 and Macan because I use them in my business and get a much larger tax deduction by leasing. Of course cash is the cheapest way to go, but instead of dropping $120,000 on my car in 2014, I used the money to buy 5 rental properties between then and now. That all being said, you need to strike a better deal. My 2014 C4S listed for about $134,000 and my cost was about $121,000 in September of 2014. I have a 27 month/7500 mile per year lease, I put no money down, and my payments including 9% sales tax are around $1750 per month.

Leenseen

You could do a PreOwned lease...

After 36months your residual will be ~ $53k.

Get your PP down to < 90k on 2014 C4S with 0.0020 MF and you'll pay < $1,300/mo before taxes.

tgcrun

I just did a quick calculation, and unless I missed something $1482 (before sales tax) should be your payment with no money down except leasing and licensing fees and first month's payment.

slingshot60

Ouch.