marriotm

Hi guys.

What are the residuals coming off of 997.2 leases? Anyone have success in negotiating down the price, given the release of the 991?

Thanks

ChadF

residuals were around 55% depending on month of lease, mileage, etc. this, of course, assumed a 36 month lease. i do not think that 55% accurately represents the market right now, low mileage 2009s look to be going for $60k or more.

i am not sure how Porsche NA does it, but other manufacturers use current auction data to assign a value at lease return- this is the value that the dealership can choose to "buy" the car at lease end. this has nothing to do with the customer, for the customer, the residual is the residual. but once the customer turns in the car, there is certainly a current market evaluation that goes on.

the residual is relevant but not as much as you'd think. the dealer may have significantly more or less money into the car. not sure if anyone has access to auction data, but that would be real time data.

rodsky

I think you will have little to no chance in negotiating down the price. I'm trying to be diplomatic here The 997 values have remained firm to better than expected. Most 09's are actually "worth" more than their residual (retail price is higher than residual). So there's no way a dealer will offer you a reduction to the residual.

Tcc1999

You know, it's an indication of how much profit is built into a 911 if a 55% residual is generally below market value yet PAG continues to not lose money.

PFS won't negotiate the buy out. I've never heard of anyone who had success with this (doesn't mean it has never happened, just I've never heard of it). In fact, PFS's leasing policies and procedures are archaic compared to other manufacturers.

marriotm

So does anyone here have a 2009 coming off a lease, that makes financial sense to sell, because the current market value is greater than their own lease residual??

cmb13

Good question. I'd be interested, potentially, also.

fast1

The easiest thing in the world is to determine asking prices for any car. Determining the selling prices is much more of a challenge for those of us who aren't in the car selling business.

PHX 911

Seems I recall a thread about a month ago that a guy had a shot at buying a 2010 (I think) from a friend that had a car coming off lease, and it was a screaming deal, relative to current retail for that year.
It puzzles me a bit that folks here tend to under-value cars. For instance, folks will comment that you should be able to pick up a 2009 in the mid to low $60k range, yet when I was shopping, that dough would only get you a base model marginally optioned, and more than just a few miles.
I still will check craigslist and auto trader periodically, and 09's are still advertised in the mid $70k range.
I find it tough to pidgeon-hole the value of a car that has the potential of a $25k swing, just in how it's optioned. He'll, the condition of the tires can make a 2 grand difference....

Gt3 Racer RS

There is no room for negotiating! I could only negotiate my GT3 down 1000 bucks! That's only because I've known the dealer for 15 years and bought 100's of cars from them. This is on a loan though, if that helps.

rodsky

I just bought my own 2009 off lease. The residual was $56k and change. Lease was up in September. Figured my 2009 C2S PDK, SC, SPASM, BT, Nav etc. with $17,000 miles and pretty good To excellent condition was worth more than that. So I bought it and had it CPO'ed for 2 more years. So 3 more years of warranty. Generally not a fan of leasing but I got a pretty good deal on the front end and wasn't sure whether I'd keep it.

But if I hadn't bought it, I think it have a few takers at $56k for it. So, to answer your question, PFS would never have negotiated to lower my buy out. They were trying to almost do the opposite. Offer me incentives to sell it to them, forgive a bunch of payments, to lease or buy a new one. However, I didn't feel good about $50k on top of my car for a new one.

Tcc1999

Are you kidding? At $56K you'd have had buyers stalking you!!! I sold my '08 S at lease buyout (which was less than yours; and as a courtesy to the buyer I won't state the price) and had about 20 inquiries in two days with about half being serious. And the car was Speed Yellow - which you'd think would be a bit harder to move (I guess a bargain trumps color).

Palmbeacher

Another physician whose office is in my building just had his 2010 C2S come to lease end yesterday. He assumed he would lease a new 991 (he's leased a new Porsche every two years for the past ten) but after he test-drove one he disliked it enough that he asked the dealer about buyout for his 2010. The dealer said not only would they not negotiate, but that they could sell his car for $5K above his residual. In fact they said the demand for low-mileage late-model 997s has mushroomed in light of the 991 (which they said seems to be garnering a lot of dislike) and the supply of late-model 997s has simultaneously dwindled as many people are buying theirs out at lease-end rather than go to a 991.

marriotm

So does anyone have a lease coming due that wants to sell??