tahoe_joe

Appreciate any input or advice. I'm looking to lease a new Targa 4S, and am based in Silicon Valley, CA (Menlo Park to be exact). The approximate MSRP is $160,000. I've reached out to one local dealer and am in the process of getting quotes from a few others (Burlingame, Redwood City, Stevens Creek).

Given how crazy the new car market is, the first dealer has quoted MSRP (to be expected), residual of 58% (I believe this is non-negotiable) and a whopping 0.0030 money factor (equivalent to a 7.2% interest rate). The money factor / interest rate seems crazy to me, given that interest rates generally are so low these days. Appreciate any input on what terms I should look for, what is market, etc. Note that I have excellent credit and the dealer didn't pull my credit report, so the quoted money factor is not specific to me.

For a bit of history (and happy to answer any questions), I recently sold my MY 2013 911S (manual) back to a dealer, and am now doing the Porsche Drive subscription program with the Accelerate tier. After doing the Accelerate tier for the last 4 or so months and trying out a variety of cars, I'm finding i'm most happy with the 911 and am hungry for a new one!

rk-d

If you’re getting MSRP on a Targa 4S, just buy it .0030 MF is a joke and typical for Porsche. Used cars are selling for almost no loss from new. I seriously doubt that holds for 3 years, but 58% residual is still lower than reality, which is probably 80% if I had to guess (and that’s probably pessimistic).

AlexCeres

Leasing a 911 in Silicon Valley makes absolutely no sense now. Finance it at about 2% and sell it or trade it in in 3 years. Not only will you pay 1/3 the interest but the 911 has a much strongly resale value than that residual. That deal is terrible

detansinn

If you have a dealer willing to sell you a Targa at MSRP, buy it. ADM has been insane on those cars.

With regards to leasing, this topic has been well addressed recently in this thread...
https://rennlist.com/forums/992/1265...h-finance.html

Short answer: There's no such thing as a good 911 lease deal. Take advantage of the super cheap interest rates and buy it,

readydiverone

Strongly agree with all above--when I bought my car in March 2021, the lease money factor worked out to more than 6% interest! I bought it with a 1.8% 5-year loan. Like free money.

Pandacansado

Porsche's never lease well, just buy it.

polobazuca

MSRP for a Targa is a steal. If you are keeping the Targa for a while just finance it, the 2.99% for up to 72 months can't beat it, if your credit is over 800 Fico your dealer should get you 2.49% if available. Try them to see if they will give it to you. My local dealer is asking $10k to 20k on the S and the Targa if you can get one, if available these models don't last.

seanhaus

Don't lease it.

I'm seeing that there are ~3 brand new 911s for sale right now in all of NorCal, so I'm assuming they're going to order this for you. Before you even begin to negotiate further, actually make sure they even have an allocation. 911s are hard to come by right now, doubly so for a Targa.

riotgear

Doesn’t make sense to lease a 911. Finance if you’re going to make payments.

garthg

I wish I could work in Silicon Valley and afford to just throw away money.

shack993

^^^ Then move.^^^ Lots of jobs right now.