WTF!? Why the lease number so sucky?
#1
Pro
Thread Starter
Join Date: Sep 2003
Location: Los Angeles
Posts: 612
Likes: 0
Received 0 Likes
on
0 Posts
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
I put 0 cap reduction on my GT2, for a three year lease with 12K miles a year with the retarded CA tax, my payment only comes out to 2K.
The 10K 36 month lease with Porsche financial on a new GT3 is over 1700 before tax for a stripper? Are they really tagging the residual at 50%!?
Are the residual and $$ factor published anywhere? leasecompare number is just as sucky.
On bimmerfest, you have easy access to residual, $$ factor directly from BMW. Porsche seems a little less straight forward.
The 10K 36 month lease with Porsche financial on a new GT3 is over 1700 before tax for a stripper? Are they really tagging the residual at 50%!?
![surrender](https://rennlist.com/forums/graemlins/surrender.gif)
Are the residual and $$ factor published anywhere? leasecompare number is just as sucky.
On bimmerfest, you have easy access to residual, $$ factor directly from BMW. Porsche seems a little less straight forward.
#2
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
You might just have to elaborate a little. All the numbers connect. What's the deal? Are you trying to restart a new lease on your '03 GT2? I would have thought that would be a pretty reasonable deal, but what are the numbers?
I just did a lease with PFS on $130K for 997 GT3 -- the monthly payment including tax in CA is $2K give or take. Residual over 48 months is hardly 50% though ... : )
I just did a lease with PFS on $130K for 997 GT3 -- the monthly payment including tax in CA is $2K give or take. Residual over 48 months is hardly 50% though ... : )
#3
Rennlist Member
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
Originally Posted by stuka
I put 0 cap reduction on my GT2, for a three year lease with 12K miles a year with the retarded CA tax, my payment only comes out to 2K.
The 10K 36 month lease with Porsche financial on a new GT3 is over 1700 before tax for a stripper? Are they really tagging the residual at 50%!?
The 10K 36 month lease with Porsche financial on a new GT3 is over 1700 before tax for a stripper? Are they really tagging the residual at 50%!?
#4
Pro
Thread Starter
Join Date: Sep 2003
Location: Los Angeles
Posts: 612
Likes: 0
Received 0 Likes
on
0 Posts
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
Originally Posted by nkhalidi
Just a thought: your 996 GT2 saw the bulk of its depreciation before you leased it, accordingly rendering its residual higher than the residual on a new 997 GT3. That said, I think 50% after 36 months on a 997 GT3 is a little low - I'd expect more like 55% - but I'm not a lease guru.
#5
Pro
Thread Starter
Join Date: Sep 2003
Location: Los Angeles
Posts: 612
Likes: 0
Received 0 Likes
on
0 Posts
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
Originally Posted by Carrera GT
I just did a lease with PFS on $130K for 997 GT3 -- the monthly payment including tax in CA is $2K give or take. Residual over 48 months is hardly 50% though ... : )
I used their online payment estimate with base 108K with 36 months 10K each year, and it was 1750 plus tax! The GT2 with 12K allowance was inline with your GT3 number, but this is 36 months.
996 Turbo, GT2, and GT3's have good residuals in their days, just a little taken aback by the numbers on the 997's.
#6
GT3 player par excellence
Lifetime Rennlist
Member
Lifetime Rennlist
Member
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
andy, your GT2 has low pmt b/c the sales price dropped. the residual price is set way early, thus the gap b/n residual and sales price is smaller, which led to lower pmts.
110k 997gt3 should be right below $2k/m.
of course it depends on money factor. PF's buy rate is .0031 fro 36month, up to .0032 from 48-60m.
110k 997gt3 should be right below $2k/m.
of course it depends on money factor. PF's buy rate is .0031 fro 36month, up to .0032 from 48-60m.
#7
Burning Brakes
Join Date: Apr 2005
Location: Orange County, California
Posts: 1,009
Likes: 0
Received 0 Likes
on
0 Posts
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
Damn, those numbers are rich! So, if you were PFS, you would push people to Lease rather than Buy? Because the cars are being sold at more than 50% even after 3 years anyway.
Trending Topics
#8
Addict
Rennlist Member
Rennlist Member
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
The residual value from PF is pretty low, so the lease payments go high. Base model 997 GT3 are leasing for $1,750-$1,900 including taxes and everything else. I think it's just too high.
I can lease a car from another German brand and half the MSRP, for 25% or less from PF numbers.
Buying is not a good option either (financially), because these cars depreciate too fast in the first year.
I can lease a car from another German brand and half the MSRP, for 25% or less from PF numbers.
Buying is not a good option either (financially), because these cars depreciate too fast in the first year.
#11
GT3 player par excellence
Lifetime Rennlist
Member
Lifetime Rennlist
Member
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
Originally Posted by NJ-GT
The residual value from PF is pretty low, so the lease payments go high. Base model 997 GT3 are leasing for $1,750-$1,900 including taxes and everything else. I think it's just too high.
I can lease a car from another German brand and half the MSRP, for 25% or less from PF numbers.
Buying is not a good option either (financially), because these cars depreciate too fast in the first year.
I can lease a car from another German brand and half the MSRP, for 25% or less from PF numbers.
Buying is not a good option either (financially), because these cars depreciate too fast in the first year.
yes, i know BMW is HEAVILY subsidizing their leases. compared to p cars, they are like driving it for free.
#14
Addict
Lifetime Rennlist
Member
Lifetime Rennlist
Member
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
BMW pumps up the residual value and gives a lower money factor so the payments are more attractive. The risk to BMW is that they car won't hold that value in 3 or 4 years, but that is probably better than having excess inventory. Better to take a loss 3 or 4 years from now than an immediate one.
Porsche would rather not have to deal with those cars off lease, the cars will have a higher market value than residual value, so the owner will either trade or sell privately vs. turning back to the lease company.
Porsche would rather not have to deal with those cars off lease, the cars will have a higher market value than residual value, so the owner will either trade or sell privately vs. turning back to the lease company.
#15
Nordschleife Master
![Default](https://rennlist.com/forums/images/icons/icon1.gif)
Ah, that's how it works. I never understood watching the commercials how a 50K hummer was leasing for 449 a month while a Cayenne selling for the same amount was twice the price. I guess they decide where they want to take the hit then write it off at the end of the life? Interesting though. I never really understood how the leasing worked.
Just as a price point when we bought our Cayenne we looked into 3 SUV's and here is what we were offered for lease rates, all were 12K/yr and nothing down (ie, 1st month payment and fees only), similar MSRP's (within a 1K or two):
RR LR3 $1100
Cayenne $800
X5 $549
We chose the Cayenne. Wife really preferred it over the other two. Personally, from a straight financial aspect I would have preferred the X5. Nice ride, full maintenance included and $250 a month cheaper.
Just as a price point when we bought our Cayenne we looked into 3 SUV's and here is what we were offered for lease rates, all were 12K/yr and nothing down (ie, 1st month payment and fees only), similar MSRP's (within a 1K or two):
RR LR3 $1100
Cayenne $800
X5 $549
We chose the Cayenne. Wife really preferred it over the other two. Personally, from a straight financial aspect I would have preferred the X5. Nice ride, full maintenance included and $250 a month cheaper.