The $10k does cover roughly $8300 in sales tax and about $500 in fees.

 

I just recently leased a Porsche. It was one of many leases I have negoaited over the years. I have a trick that has always paid off. Find what you want via the internet. Look for two or three similar, but fairly comparable cars, at different Porsche dealerships, that are within a distance you'd drive or have delivered. Ask them for their best deal on each car. Now have them email the specifics to you. You control the deal at that point since you have all of the information from the dealers. I can't understand how anyone can deal any other way. If you do, you let your emotions take over and your salesman is in control. I just leased my wife a Panamera S, the three dealers had payment ranges of $1,157 to $1,436 (taxes included) with all the lease specifics being the same. The MSRPs were within 2K of each other. I even negoiated prepaid mantenaince and enclosed car delivery.

By the way, the local dealer never responded to my email.

 

Specifics, as in they give out residual and money factor in email? I find that very hard to achieve.

 

Please PM and I'll show you the screens on my last deal. I was given money factor, residuals, doc fees etc. I'm not saying every dealer will show you all the specifics, but many will. If the dealership won't show you the numbers, you can always back out the numbers to figure out how they came up with the payment, or simply ask the salesman for specifics. You'd never sign a deal until you knew all of it.

It's all in how you handle it from the start. I've leased many cars over the years and I hate the dealership wasting my time with their sales tactics.

 

I'm completely with you, all I'm saying is that at best I get those specifics in person or maybe on the phone. Maybe I'm afraid I'll post them all over the Interwebz

And here is Boston some dealership networks are extra reluctant, e.g. all Herb Chambers dealerships. They really don't like lease tinkers.

 

Agreed w/ internet first.... All details in writing. Show up already asking for someone by name. Have emails printed while walking into finance office. Makes life easier. All great dealers know this is the future-- not playing ball = not being around in 10 years.

 

I ordered 2017 Carrera S at the end of May and I’m picking car up today. I was quoted: $1544 mo. + tax (30 month/7500 yr./$3595 total drive off) based on selling price of $111873 (118,385 less 5.5% discount). Build-http://www.porsche-code.com/PHL27NA3
My SA called me and said rates have changed and new payment is $1674! With some work he has been able to lower payment to $1620 vs the original $1544. Have PFS lease rates gone up that much in the past three months?

 

That's interesting. The 10 year treasury was yielding a lot high in May than today. I don't know what they base their rates on, but most mortgage rates are a derivative of that rate. I would think consumer rates wouldn't veer too far.

 

With low odds of your car vanishing or getting totaled, you'd think insurance companies would offer coverage for these one pay leases at a reasonable premium. When I leased my 2016 Landcruiser there was very limited information online on lease numbers. During negotiations the money factor offered dropped from 4% to 2% when I did the one time payment option. I've never owned a Toyota and wasn't sure I'd love it enough to pay the full sales tax on it so leasing was still my best option. With all the lawyers around, you'd think there would be a document you sign agreeing that you will lose $50k on the payment you just dropped on your new 911 lease if you total it. I only knew because I read car forums.

 

Yikes! I'd ask him to show you to help you understand what happened. If the residual changed that would make more sense. Their finance fee is really pretty high (effectively 4.8%), so I'd be surprised if they raised it because their profit margin was slightly diminished by market rate shifts. Stranger things have happened though.

I ended up buying with 60 month financing at 1.7%. If the lease is too expensive, you might consider taking the depreciation risk with a purchase. I'll just keep the car longer if need be.

 

Even with the interest rate the same, each quarter, the residuals dos a few points which makes the monthly payment higher.

 

Interesting topic and some great info.

Im considering leasing both my next cars for the write off.

Any sites or programs out there that can show you the benefits of one vs the other? Being self employed Ive always thought leasing was the better way financially but my mileage was always a concern and I would end up purchasing.

 

I don't know on your question on sites or programs, but high mileage causes a rather significant hit to the resale value of Porsches. Check asking prices on the big private used car sites to get a feel. The lease makes the mileage hit cost about $0.30 per mile (-$10k for +33k miles).

 

Was just scanning this thread and thought I'd give my 0.02 - some points guys above have made:
- Never put money down, there really is no point for the reasons given
- PFS often offers 12 month lease pull aheads to get into a new car (refer to point above - you lose your cap reduction you paid)
- PFS lease seem to make most sense on a 24 - 30 month term (longer ones have poor residuals), also see point above.
- Negotiate hard on the sales price, just like you would with any car purchase
- Residuals are fixed by PFS (dealer can't screw you on this)
- Money factor (MF) - dealer will try to screw you on this. At least get the buy rate. They will try to screw you on fees too - it's all profit to the dealer.
- MRM - I always try to stay below it as if you go over it jacks up the lease payment as it is no longer being residualized (I believe)
- Do this over the Internet - at least 3 dealers.
- Get a screen shot emailed to you of the lease breakdown from the system - it lays all the numbers out for you! They will send it if you insist - I just tell them I'm going to be asking for each and everyone of the numbers so just easier to screen shot it to me. If they don't know how - tell them to take a photo of their computer screen with their handy iPhone and text / email it to you
- Website calculator - ridewithG.com

 

Ok, I've never leased but I've looked into it and I guess I didn't dig deep enough to uncover this fact. So, I'm going to use some simple numbers here; I lease a $100k car and put $50k down. If I total it doesn't the insurance pay the value of the car? And if so, wouldn't any of that value of the car above what is owed on the lease come back to me?