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I was able to work with dealership and pay 80% of car value, leaving only 20% residual left after one year lease. These large monthly payments allow you to bring down money factor. Also, in the state of Texas taxes are the real issue and you must work with dealer to not double pay. Money factor is around 6.5% on my lease versus 8.5% on standard lease.
to be clear, I'm asking about insurance options for stated value (above msrp) for US cars
What also matters here, in the case of a total loss, is what Porsche Financial Services does when they receive a payout check. Since it's a lease, it'll probably go to them. (2 insurance providers in CA have told me they always pay the lease holder but I've heard anecdotes otherwise.)
I spoke to some at PFS that stated matter-of-factly that it's policy to never keep any overage payments on a lease after closing the account—but they were not able to point me to any language in the contract stating so. So if your insurance matches Actual Cash Value or Agreed Value and sends PFS a check for 630k (the only comp right now), fingers crossed that Porsche will pay the remainder after closing the account. For folks with ADM, this would be the only way to recuperate it.
I have a family member that is a finance director at a Porsche store out East and he told me the factor prior to my meeting with my dealer. My dealer matched what he told me. I'm paying the lease off up front with my Touring trade-in as well. Those are just the numbers. My meeting was actually 2 months ago now so rates may have come down (and will likely come down more in the next 3 months before my car arrives). But I imagine most 1 year leases on the S/T are between $90-105k, of which only 16% of the car's MSRP is paid off during the lease. $40-$55k in lease interest/fees is the average
EDIT: I'll have to see what my lease looks like in a few months. Curious if anyone else had that cheap of a 1 year payoff ($83K), but that's the lowest I've seen
Is money factor negotiable? I thought is was essentially based on one's credit score and how much you pay up front. One could shop around for different lease companies but we have to use PFS, no?
Is money factor negotiable? I thought is was essentially based on one's credit score and how much you pay up front. One could shop around for different lease companies but we have to use PFS, no?
I don't know if it's negotiable. I need to call my cousin and revisit this as I don't recall this specifics of our conversation months back
All I know, is that I picked up my car on September 4th and only got to drive it 8 miles to my PPF shop and I still don't have it. Last pictures I got it was partially disassembled. They're even taking the window trim off. I really just want to drive it.
Is money factor negotiable? I thought is was essentially based on one's credit score and how much you pay up front. One could shop around for different lease companies but we have to use PFS, no?
Not negotiable (but I understand a OnePay lease is eligible for a lower money factor). PFS must be used. And be prepared to "qualify" for the lease with PFS - you'll need more than a high FICO score.
Not negotiable (but I understand a OnePay lease is eligible for a lower money factor). PFS must be used. And be prepared to "qualify" for the lease with PFS - you'll need more than a high FICO score.
0.003 1 pay money factor with a max .0004 mark up by dealer
Equivalent to 7.2% interest
All I know, is that I picked up my car on September 4th and only got to drive it 8 miles to my PPF shop and I still don't have it. Last pictures I got it was partially disassembled. They're even taking the window trim off. I really just want to drive it.
i might drive mine for a bit before ppf. I hear ya… I got the same config btw
It's closer to $50k with interest and fees. My MSRP is $340k for reference. My 1 year lease is ~$103k (don't have my car yet but this is what the finance manager ran for my car last month with current rates) and pays off 16% of the car ($54k). So ~$50k is lit on fire
yes mine came up with the same amount for 1 year lease … that is the sacrifice you make of being able to own this car …. Hard earned money being lit on fire!
I have a family member that is a finance director at a Porsche store out East and he told me the factor prior to my meeting with my dealer. My dealer matched what he told me. I'm paying the lease off up front with my Touring trade-in as well. Those are just the numbers. My meeting was actually 2 months ago now so rates may have come down (and will likely come down more in the next 3 months before my car arrives). But I imagine most 1 year leases on the S/T are between $90-105k, of which only 16% of the car's MSRP is paid off during the lease. $40-$55k in lease interest/fees is the average
EDIT: I'll have to see what my lease looks like in a few months. Curious if anyone else had that cheap of a 1 year payoff ($83K), but that's the lowest I've seen
I'd love to see how you're paying $40k - $50k in interest and fees. My interest will be $21k and the lease acquisition fee is around $1,100.
Is it a good idea to get the extended warranty and the maintenance plan? I am thinking it is. My last 911 engine got seized after warranty and I paid out of pocket to fix it. Also my g63 extended warranty paid for itself a year after the original warranty expired. Given the light weight flywheel etc, seems like extended warranty is a must …anyone got it? For how much ?
The wheels make the car and show little to no brake dust. Check into the decals if you think you may ever want them. Tire coating stained my first set and with the VIN they were replaced. Another guy on this forum tried to order them but was having a lot of problems because they were not ordered with the car.
I would be curious how many ordered them. The shore blue is PTS in Europe. Great car!
Love the Shore Blue, it's one of my favorite colors on the 992
It's closer to $50k with interest and fees. My MSRP is $340k for reference. My 1 year lease is ~$103k (don't have my car yet but this is what the finance manager ran for my car last month with current rates) and pays off 16% of the car ($54k). So ~$50k is lit on fire
You're paying a little too much, mines also 83 ish k as many have mentioned here for doing the one payment. If you're doing the per month vs 1 payment then its more but I dont think it adds up to 50k...should be like 20-23 additional (dont have the numbers in front of me but this is what I was quoted by my dealer approx)
09-13-2024, 09:58 AM
