997.2 cab lease question - what's a good deal for monthlies?
07-16-2010, 08:08 PM
#1
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997.2 cab lease question - what's a good deal for monthlies?
What is a good vs. great deal on a 2-3 year lease on a 2009 or 2010 Carrera Cab. Non-S model. Basic options (sub <$88K MSRP)?
Guidance on monthly and down payments would be appreciated. I know that Porsche had really aggressive lease deals late last year, so getting those would be helpful.
Guidance on monthly and down payments would be appreciated. I know that Porsche had really aggressive lease deals late last year, so getting those would be helpful.
07-20-2010, 10:04 AM
#3
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Leasing is like juggling bowling *****, drop one ball and it will hurt.
Biggest "ball" is the CAP cost- what you actually pay for the car- negotiate this like you're paying cash-don' be shy.
You can't do much about the money factor or residual-they are usually set by the model of the car and the timing of the deal. These can be different from one day to the next.
Try to do everything zero down as your DP is really just paying down the lease in advance.
Try to negotiate out of the following fees: security, disposition, application, acquisition, or bank. It may be tough to get all of them out because you start with a 'boiler plate' contract.
In the end, if you're just looking at monthly cash flow, your car lease payment should be a few hundred dollars less per month than financing. The only problem is at the end of the lease, as high residuals make keeping the vehicle an "I love you" transaction making little financial sense.
BD
Biggest "ball" is the CAP cost- what you actually pay for the car- negotiate this like you're paying cash-don' be shy.
You can't do much about the money factor or residual-they are usually set by the model of the car and the timing of the deal. These can be different from one day to the next.
Try to do everything zero down as your DP is really just paying down the lease in advance.
Try to negotiate out of the following fees: security, disposition, application, acquisition, or bank. It may be tough to get all of them out because you start with a 'boiler plate' contract.
In the end, if you're just looking at monthly cash flow, your car lease payment should be a few hundred dollars less per month than financing. The only problem is at the end of the lease, as high residuals make keeping the vehicle an "I love you" transaction making little financial sense.
BD
07-20-2010, 01:50 PM
#4
Rennlist Member
Equally important to Cap Cost is residual value. Many incentives these days, especially with BMW, come via an artificially high residual value. The other issue is the "Money factor", or APR. Don't let them BS you about money factor - they like to speak of it in those terms instead of APR because people are less familiar with money factor. There is a simple conversion, I believe Money factor x 24 = APR, but i'm not positive.
At any rate, your best lease rate will be a combination of low cap cost (discounted cost of car) with high residual value (calculated value of car at end of lease, such that you only "pay down" to that level,) and low money factor, or APR.
Sorry if you know all of this alrteady - as for specifics, I don't know what a good lease rate on a Porsche is. After following the market for a couple years it seems that they hold their value pretty well. If I look at what I paid for my car last summer vs what I believe it is worth now, it seems that i've only paid about a thousand per month, which is probably much better than most 911 leases. Then again, deals were crazy last summer.
Good luck.
At any rate, your best lease rate will be a combination of low cap cost (discounted cost of car) with high residual value (calculated value of car at end of lease, such that you only "pay down" to that level,) and low money factor, or APR.
Sorry if you know all of this alrteady - as for specifics, I don't know what a good lease rate on a Porsche is. After following the market for a couple years it seems that they hold their value pretty well. If I look at what I paid for my car last summer vs what I believe it is worth now, it seems that i've only paid about a thousand per month, which is probably much better than most 911 leases. Then again, deals were crazy last summer.
Good luck.
07-20-2010, 02:48 PM
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Download the "Lease Monthly Payment Calculator Spreadsheet" and learn how to use it. It might take a few hours and examples to get good at it, but I used to practice on the cars in the Sunday paper to find out how they reached their payments.
http://www.carbuyingtips.com/download.htm
http://www.carbuyingtips.com/download.htm
