1st time post, but save it to say i need information since i NEED anew 997S.

In 2002 I leased a new 02C4Cab that after options had a MSPR of 99875. I got what i consider a slamming deal: 0 cap cost reduction(downpmnt), 12000 mi/y, 48m, $1100/m.

Ive considered numerous cars for my next one(hopefully in a few months here but the leases seem outrageous(Also, i can't pull myself away from Porsche!!!). I mean a 80K M5 for $1500/m?!?! A 80K RS4 for 1450/m. My girl has an Audi, so i browse the S4 forums every once in a while and these people are paying $800+/m for a $55K S4!!!

So for those of you out there, what kind of terms are you getting on leases for a 997S? Cap Cost, Money Factor, Miles/y, Term, Pmt???

I need to know what i can expect and the flexibility others have seen!!!

 

try:
www.leasecompare.com

I was quoted (by my dealer in the Bay Area) a money factor that worked out to be approx 7.8%. Not a good deal. I would go outside of Porsche if possible.

I didn't end up leasing, but I asked them just so that I would have some comparison. This car, to me, is a keeper!

 

MSRP $88360
$5000 cap cost reduction.
$595 aquisition fee. (load of crap)
Gap Insurance.
48 monthe lease.
6% Indiana sales tax.
$1223

 

Get a lease calculator online. Residual on a 4-year lease should be about 51%. A decent money factor is probably around .0025 (don't know where they actually are these days). You're not going to see much of a discount from MSRP on an S these days. You can then pretty much figure out the lease payment and can play with cap reductions to see how that affects your payment.

 

Falco - Welcome to the forum. Timing is everything! Check out this thread from the 996 Forum that was also started today. Make sure you read my 3rd post about leasing from the dealer.

https://rennlist.com/forums/996-forum/219769-o-t-leasing-or-buying.html

 

Shop around, and ignore the dealer. Money can be borrowed very cheapy these days - and thus no need for a dealer to take an additional chunk (these kind of dealer activities really **** me off).

Leasing institutions play with the depreciation (residual) of cars a lot, too. Make sure you are not talking apples to their oranges. Bottom line is never trust a dealer.

 

$87000 MSRP
$5000 down pmt
365 money factor
48 month
8.25% tax
$1390.00 pmt

sound fair or better deal to be had elsewhere?

 

997 - 79k msrp, negotiated to $74.5k, $4200 total out of pocket, $1100 mo., 15k miles yr. 3 yrs.

 

Hiya,

What should the residual be? Seems like it is something that is very arbitrary!

Also what is the PREFERED Porsche lease and what is different about it from a normal lease? [I saw this on the PCNA web site.]

Thanks,
Greg

 

The leasing companies (Porsche, banks, etc.) set their residuals based upon their determination of what it should be to cover them at lease end. Although usually close, they can vary between companies. Ask the dealer to tell you what the residuals are. Also ask what the money factors are - this is the equivalent of an interest rate, but they can vary too. You have to be careful because the dealer can mark up the money factor and make a load of profit because they will sell the contract to the leasing company based upon the money factor used by the leasing company, not what they charged you. You should understand leasing, get a lease calculator (easy to download online, I have one on my Palm), then deal with the dealer transparently so you know exactly what the real money factors are, what's the residual, what is the cap cost (i.e. MSRP minus a discount). Its little different than buying a car this way, just a different form of financing, but for the unwary its easier for the dealer to stick it to you because of the numbers that can lost in the shuffle.

Don't know what Porsche "preferred" is - probably just a BS label on their leasing program. I have bought my last two cars, although my wife's Cayenne S is leased from Porsche Financial.

 

I have two leases with Chase bank,
their residuals were 2%-3% higher than all of the competitors, and money factors were only .0019 and .0018 on my two leases.

I secured both Chase leases via "lease specials" through the dealer, but the specials run for only a month or two at a time, and unfortunately Chase would not work with me independently, they said these lease specials must be transacted through the dealer. The trick of course is to become
chummy enough with a dealer sales rep who is willing to work somewhat against his own self-interest and scour the dozen or fifteen banks--that all of these dealers have relationships with--to see which bank is undercutting the other banks, and of course ALWAYS undercutting PFS.

 

As a rule leasing is far less attractive than it used to be since the banks have been getting killed at the back end with unrealistic residuals.

 

Current dealer buy rate from PFS is .0029 which is equivalent to 6.9%. Way too high.

 

Anyone have experience with www.theleaseoutlet.com ? If so, good, bad, or indifferent?

 

Remember that lease rates are based on residual values (the higher the better) the terms, and the money factor. The MF is probably the biggest contributor here....
1st: Know your credit. Credit is based on a FICO score. Not "A, or B or C" Credit. Sure, there are 'tiers' of credit with in the auto industry: A credit= 710 or better FICO B=690 C=660 ect ect ect. Also, ask the dealer which credit beauru they're pulling from; Trans Union, Equifax or Experian.

I'd recommend you go to a mortgage company (prefferably a friend) and have your tri-merge pulled. This means all beauru's are pulled AND it doesn't count against your FICO score if it's pulled by a mortgage company. (a little inside tip there).

Knowing your FICO will enable you to negotiate the money factor. Regardless of what the you know what they say. Like someone said, Chase Manhatten is a great resource for loans and leases. They offer excellent money factors. But not all the time. Remember those rates change monthly.

A money factor of .0025 or less, like the above example .00180 is a great factor. Anything about .00285 is getting really high in the interest rate game and you're paying a lot. But if you've got questionable credit, like most people do......it maybe right on the 'money' so to speak.

I'm a former Mercedes Benz Manager and Mortgage Broker. That's how I know.