996 residual value info
Thread Starter
Instructor
Joined: Sep 2002
Posts: 249
Likes: 1
From: Carmel Valley CA
996 residual value info
Anyone know where to find posted residual values for 996's? I am looking to lease an 03' or 04'. Since the lease price will be based on the difference between the estimated residual value and the price I pay, I can do the math from there.
For example: I would like to know what an 03' cab will be worth in 2 and 3 years. What figures are the dealers/lease companies using and where is the data coming from. Can we access it?
Also seems the C4S is holding value better than the C2, so lease prices might be comparable.
thanks,
For example: I would like to know what an 03' cab will be worth in 2 and 3 years. What figures are the dealers/lease companies using and where is the data coming from. Can we access it?
Also seems the C4S is holding value better than the C2, so lease prices might be comparable.
thanks,
Racer
Joined: Jul 2003
Posts: 462
Likes: 0
From: Prospect, KY
Leases rarely make sense on used vehicles, since the leasing companies rarely give better residuals for used ones, rather than new. You would probably do better on an 05 996 or 997 than an 03. I could be wrong, but check ALG, as they are the standard for lease rates.
good luck!!!....Eric
good luck!!!....Eric
Thread Starter
Instructor
Joined: Sep 2002
Posts: 249
Likes: 1
From: Carmel Valley CA
You may be exactly right, that's why I want the actual residual values used to calculate leases. Then I can compare numbers. I don't want to have to look at each car, try to make a deal and then find out what residual they are using. There must be residual tables out there, do we have access to them? I want to know the residual values then shop for price.
For example, if I find an 03', and they have decent depreciation rates and I can get a good price then the payments might look good. Plus I can still be under warranty for the lease term which is a must for me. I would think the biggest hit would come in the first year and a used model just might pencil out better.
I have checked out ALG and did not see any tables.
For example, if I find an 03', and they have decent depreciation rates and I can get a good price then the payments might look good. Plus I can still be under warranty for the lease term which is a must for me. I would think the biggest hit would come in the first year and a used model just might pencil out better.
I have checked out ALG and did not see any tables.
Racer
Joined: Dec 2002
Posts: 365
Likes: 22
From: SF Bay Area, CA
You can extract the ALG info out of the Edmunds site. Pick a used car, then find the "total cost of ownership" button. You'll see annual depreciation noted which you can sum up and subtract from the "selling price" to find your residual.
Intermediate
Joined: Sep 2004
Posts: 48
Likes: 0
Here are the residuals
Here is an 03
Months Value
12 $55,200
24 $48,950
30 $46,050
36 $43,150
42 $40,275
48 $37,400
60 $32,100
Here is an 04, both are Cab's
Months Value
12 $59,200
24 $53,200
30 $50,350
36 $47,500
42 $44,750
48 $42,000
60 $36,600
Let me know if you need anything else
Here is an 03
Months Value
12 $55,200
24 $48,950
30 $46,050
36 $43,150
42 $40,275
48 $37,400
60 $32,100
Here is an 04, both are Cab's
Months Value
12 $59,200
24 $53,200
30 $50,350
36 $47,500
42 $44,750
48 $42,000
60 $36,600
Let me know if you need anything else
Addict
Rennlist Member
Rennlist Member
Joined: Dec 2003
Posts: 600
Likes: 0
From: Simi Valley, CA
86NOH20
I'm with you. In CA you get killed on sales tax when you buy a $90K car. When you sell it for $50K in 3-4 years, you end up eating $4K in sales tax. ($50K x 8%) When you lease a car a few years old, someone else already took the big hit on the value and you only pay sales tax on the cap reduction and your monthly payments.
I'm with you. In CA you get killed on sales tax when you buy a $90K car. When you sell it for $50K in 3-4 years, you end up eating $4K in sales tax. ($50K x 8%) When you lease a car a few years old, someone else already took the big hit on the value and you only pay sales tax on the cap reduction and your monthly payments.
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Thread Starter
Instructor
Joined: Sep 2002
Posts: 249
Likes: 1
From: Carmel Valley CA
GoMo,
Can you explain to me how those tables work? ie. an 03' cab should be worth $55,200 12 months from now? Anywhere to find these numbers without buying a book etc.. or asking to see the dealers info. If not is there some book to buy or subscription to this data?
thanks,
Can you explain to me how those tables work? ie. an 03' cab should be worth $55,200 12 months from now? Anywhere to find these numbers without buying a book etc.. or asking to see the dealers info. If not is there some book to buy or subscription to this data?
thanks,
Intermediate
Joined: Sep 2004
Posts: 48
Likes: 0
Here is the web site, unfortunately it is not free. http://www.blackbookusa.com/
Your correct about the 12 months from now statement. But that is based on no options. The same report lists the wholesale value of an 03 in average condition as $62,600. I take this as they are estimating a 13% drop in wholesale prices in the next 12 months. Does this make sense?
Let me know if you need me to pull anything else
Your correct about the 12 months from now statement. But that is based on no options. The same report lists the wholesale value of an 03 in average condition as $62,600. I take this as they are estimating a 13% drop in wholesale prices in the next 12 months. Does this make sense?
Let me know if you need me to pull anything else
Race Car
Joined: Oct 2004
Posts: 3,899
Likes: 219
Originally Posted by magistro
ResValues are set by lender (Lessor). There is no common agreed upon Res Value.
Used vehicles don't fair too well when leasing.
Go to leasecompare.com...its a useful site.
Used vehicles don't fair too well when leasing.
Go to leasecompare.com...its a useful site.
A used Porsche will depreciate far less than a new Porsche. So if you lease a two year old Porsche, after it has undergone its initial heavy depreciation, you should pay a lower lease rate. The lease price is set by determing the depreciation and dividing that amount by the number of years the car is leased plus the depreciation amount and the purchase price times the money factor. So theoretically the lease price for a used car should be far less than that of a new car since both the purchase price and depreciation amount for a used car is far less than that of a new car. The only other variable is the money factor which I would imagine wouldn't vary much between a new and used car.
Advanced
Joined: Jun 2001
Posts: 55
Likes: 0
From: San Diego
Your point is well taken however, there are other considerations the lessor takes into account, in particular risks of "future anticipated value". Lessors are very conservative regarding residuals of used cars & therefore the payments are relitively higher. And yes money factor (cost of money) is higher for used cars just like a loan for used car is typically higher than a new car.
I have never seen a lease make sense on a used car, regardless of make.
I have never seen a lease make sense on a used car, regardless of make.
Race Car
Joined: Oct 2004
Posts: 3,899
Likes: 219
Originally Posted by magistro
Your point is well taken however, there are other considerations the lessor takes into account, in particular risks of "future anticipated value". Lessors are very conservative regarding residuals of used cars & therefore the payments are relitively higher. And yes money factor (cost of money) is higher for used cars just like a loan for used car is typically higher than a new car.
I have never seen a lease make sense on a used car, regardless of make.
I have never seen a lease make sense on a used car, regardless of make.
Race Car
Joined: Oct 2004
Posts: 3,899
Likes: 219
Originally Posted by magistro
Your point is well taken however, there are other considerations the lessor takes into account, in particular risks of "future anticipated value". Lessors are very conservative regarding residuals of used cars & therefore the payments are relitively higher. And yes money factor (cost of money) is higher for used cars just like a loan for used car is typically higher than a new car.
I have never seen a lease make sense on a used car, regardless of make.
I have never seen a lease make sense on a used car, regardless of make.
I have no experience with the company, so I can't make a judgement about their prices , but they may be a good source for those looking to lease a used Porsche.