Pcarnerd

Hello All! Long time reader first time poster on rennlist.


I am looking to lease a 992 Carrera S with a MSRP around 139k. In a normal world not this crazy car market what should I expect for a lease? My hope would be around 1500-1700 with very little down and get one next year hopefully. Is that realistic? or would it be better just to buy it and take the higher payment? I get this is a vague question just want to make sure I am setting up my expectations properly. I have been obsessed with Porsche's my entire life and I am lucky enough in a position where I could buy a new 911 which is a lifelong dream within itself.


Thank you for any and all insight.

breny4104

For 911's, a lease will have a larger payment than a loan by a wide margin all things being equal (down payment). The lease estimate in the configurator is way off. The effective interest rate is about 7% through PFS

Pcarnerd

so basically do not waste my energy even thinking of a lease is what your saying, not opposed to buying just would prefer a lease on a car of this cost that in a normal world does not hold value from new very well.

kpblade

Also, for any given model there is a maximum (?MAV, maximum amortized value) the PFS will lease. I don't recall what it is for the C2S, but any dollar amount over that, and you pay the difference up front at signing.

AlterZgo

I'm a huge proponent of leasing... but Porsche lease deals are terrible. Aside from the crappy money factor/interest rate, they have ridiculously low residuals - like below 60% so you end up paying for 40 something percent of the value of the car over a 3 yr lease. This is really bad because 911s hold their value really well and some actually appreciate so the residual percentage should actually be really high.

At the end, it's a wash b/c you can sell your leased car and make back any equity you have in it, but your monthly payment would still be much higher than it should be if the residuals actually reflected the very low true depreciaiton rate.

audi4t

I have leased my last 4 cars (Mercedes) but I am buying this 992.
I am getting a 5 year note at 1.78% from my credit union

That’s pretty cheap money !!!

breny4104

If you're willing to pay the premium for reduced risk of depreciation or diminished value due to accident then the lease is for you.

The 992 should hold it value well so not much risk there.

voyagez.fr

C2S should be $149K. Well within the OPs build.

mksz51

Have leased Lexus, BMW, Audi, and Mercedes in the past. Those manufacturers "compete" to saturate the market so lease rates are MUCH more favorable with generally over-valued residual values (which is great as long as you complete the lease term). Porsche does NOT need to do that and doesn't do that - so leasing is generally a bad choice for Porsche. I've acquired 3 new Porsches since 2018 - bought them all.

pitt911

1500-1700 is not doable even in normal market when you get 7-10 % discount off .You should be looking at 2200 -2400 depending on your state taxes

Thescout13

MRM is ~$145k on a C2S

Current residual is 60%

Current money factor is .00200

So for a $139k car you’d need to put roughly $20k down to be in the mid $1600s including a ~7.5% monthly sales tax.

Pcarnerd

This is the comment I was looking for thank you. Hopefully the market settles within the next year and I can get into my dream car.

por356

Can't add to the lease/buy question, but fully relate to getting your dream car; you won't be disappointed!

breny4104

If you can get these lease terms then I would say lease all the way. if $1650 is the payment that is.

mksz51

Wrong - NEVER put money down in advance on a lease. Negates the whole point of leasing. You can make the payment be anything you want by putting money down up front. To successfully negotiate a lease you want the lowest possible money factor (multiply it by 24 to get effective loan % rate), the highest possible residual percentage, and negotiate the lowest possible price for the car. Going in with the attitude of "this is what I will pay per month" will almost certainly guarantee that you'll get screwed on the deal. People should never lease unless they understand the process.