Lease Options
02-27-2007, 11:37 AM
#16
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Originally Posted by Myk
Here are Porsche financial lease rates:
2007 911 Turbo Coupe /
24 mo/15k mi – Residual Value 66% of MSRP – .00320 Money Factor Buy Rate
36 mo/15k mi – Residual Value 58% of MSRP – .00320 Money Factor Buy Rate
48 mo/15k mi – Residual Value 52% of MSRP – .00330 Money Factor Buy Rate
60 mo/15k mi – Residual Value 45% of MSRP – .00330 Money Factor Buy Rate
2007 911 Turbo Coupe Tiptronic
24 mo/15k mi – Residual Value 64% of MSRP – .00320 Money Factor Buy Rate
36 mo/15k mi – Residual Value 56% of MSRP – .00320 Money Factor Buy Rate
48 mo/15k mi – Residual Value 50% of MSRP – .00330 Money Factor Buy Rate
60 mo/15k mi – Residual Value 43% of MSRP – .00330 Money Factor Buy Rate
Use the following formula to calculate a lease payment:
(Capitalized Cost – Residual Value) / Term = Monthly Depreciation
(Capitalized Cost + Residual Value) X Money Factor = Monthly Interest
Monthly Depreciation + Monthly Interest = Base Monthly Payment
You can calculate your exact monthly payments if you go thru porsche financial. Also be careful of them charging you a large "doc" fee - it's just a BS charge to increase their profits (ask me how I know).
Good Hunting!
2007 911 Turbo Coupe /
24 mo/15k mi – Residual Value 66% of MSRP – .00320 Money Factor Buy Rate
36 mo/15k mi – Residual Value 58% of MSRP – .00320 Money Factor Buy Rate
48 mo/15k mi – Residual Value 52% of MSRP – .00330 Money Factor Buy Rate
60 mo/15k mi – Residual Value 45% of MSRP – .00330 Money Factor Buy Rate
2007 911 Turbo Coupe Tiptronic
24 mo/15k mi – Residual Value 64% of MSRP – .00320 Money Factor Buy Rate
36 mo/15k mi – Residual Value 56% of MSRP – .00320 Money Factor Buy Rate
48 mo/15k mi – Residual Value 50% of MSRP – .00330 Money Factor Buy Rate
60 mo/15k mi – Residual Value 43% of MSRP – .00330 Money Factor Buy Rate
Use the following formula to calculate a lease payment:
(Capitalized Cost – Residual Value) / Term = Monthly Depreciation
(Capitalized Cost + Residual Value) X Money Factor = Monthly Interest
Monthly Depreciation + Monthly Interest = Base Monthly Payment
You can calculate your exact monthly payments if you go thru porsche financial. Also be careful of them charging you a large "doc" fee - it's just a BS charge to increase their profits (ask me how I know).
Good Hunting!
02-27-2007, 09:23 PM
#17
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{MSRP: $133.355
36 month Lease
10,000 miles per yer
61% residual value ($81386.20)
Payment would be $2265.04/Mo
This appears to be consitant with a .0039MF (best rate in his words)that he told me I would be getting.}
Spoke with my salesguy again today and confirmed more details on their offer.
MF is .0037 from the dealership, but he "can get me" .0036. BTW Porsche Financial offers it at .0032 and the dealer makes .0004 on the mark up. There is also an Aquisition fee of $745 and a disposition fee of $350.
So I asked him straight out that since I am paying MSRP for the car, do they feel the need to make money off me financing through Porsche. I'm sure you can guess the answer and he added that other dealers and car makers charge upwords of .0010 on top.
Does this sound reasonable or am I getting cornholed!!
36 month Lease
10,000 miles per yer
61% residual value ($81386.20)
Payment would be $2265.04/Mo
This appears to be consitant with a .0039MF (best rate in his words)that he told me I would be getting.}
Spoke with my salesguy again today and confirmed more details on their offer.
MF is .0037 from the dealership, but he "can get me" .0036. BTW Porsche Financial offers it at .0032 and the dealer makes .0004 on the mark up. There is also an Aquisition fee of $745 and a disposition fee of $350.
So I asked him straight out that since I am paying MSRP for the car, do they feel the need to make money off me financing through Porsche. I'm sure you can guess the answer and he added that other dealers and car makers charge upwords of .0010 on top.
Does this sound reasonable or am I getting cornholed!!
02-27-2007, 10:38 PM
#18
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USUALLY dealers will want to add a bit on top of the buy rate.
but if you know the dealers well, they will give you buy rate.
but if you know the dealers well, they will give you buy rate.
02-27-2007, 10:50 PM
#19
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I plan on keeping the car, but a lease appears to have some significant tax advantages, something to think about. Trade my 996, decrease the cap cost get and get a lower payment , and pay cash for the remainder after 3 years. Does this sound right? I've never leased a car and I don't want to get screwed.
02-28-2007, 12:19 AM
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They can give you the Porsche lease rates if they want to - it's a bargaining chip. My dealership originally offered somewhere around .0036, but I offered .0033 (instead of .0032), which they accepted. I think if I would have held out, they would have caved to .0032.
I think if you do a bit of negotiating, they'll come down quite a bit . . . My sales guy was playing the "good cop", so he told me he didn't blame me for not wanting to pay more than dealer rates on the lease and told me to make them an offer.
They told me the same numbers on the aquisition and disposition fees.
I think if you do a bit of negotiating, they'll come down quite a bit . . . My sales guy was playing the "good cop", so he told me he didn't blame me for not wanting to pay more than dealer rates on the lease and told me to make them an offer.
They told me the same numbers on the aquisition and disposition fees.
02-28-2007, 01:50 AM
#21
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i've never paid over msrp on a car and never more than dealers buy rate.
these are all negotiable.
these are all negotiable.
02-28-2007, 03:33 AM
#22
Originally Posted by AAH986
I got the 48 months/15k lease/msrp of 130k and the numbers above are pretty accurate. I paid 5k down, leasing for 1500$ and change/month plus tax. residual is in the mid 60s, so I might keep the car eventually, depending on real depreciation.
02-28-2007, 11:23 AM
#23
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Originally Posted by docjackson1
did you get that deal, because if you did, it is pretty good
02-28-2007, 06:12 PM
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Scott
I plan to do exactly as you do. I will lease my 997TT out of my business. Getting to pay for part of if out of my business is just too good not to do
I have had very good deals via Chase on my 996TT (which I bought at lease end) and a 993 that I returned at lease end.
I have not shopped the PCNA financing vs Chase yet.
Let us know what type of deal you end up with.
I plan to do exactly as you do. I will lease my 997TT out of my business. Getting to pay for part of if out of my business is just too good not to do
I have had very good deals via Chase on my 996TT (which I bought at lease end) and a 993 that I returned at lease end.
I have not shopped the PCNA financing vs Chase yet.
Let us know what type of deal you end up with.
03-26-2007, 09:43 PM
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Originally Posted by docjackson1
scott- it would be very interesting if you would give us the benefit of your experience and tell us the lease quotes that you are getting, along with the corresponding residuals.
03-27-2007, 12:28 AM
#28
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Still can't decide about leasing vs just buying the damn car. I plan to keep the car for a long time, and I will be trading in my 996. Leasing definitely has a tax advantage that I should take advantage of in my situation. They say not to put down a lot of money on a lease, when I trade my 996 do I automatically lose it's "value" if I total the turbo driving off the lot?
03-27-2007, 01:57 AM
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Originally Posted by DJ 996
Still can't decide about leasing vs just buying the damn car. I plan to keep the car for a long time, and I will be trading in my 996. Leasing definitely has a tax advantage that I should take advantage of in my situation. They say not to put down a lot of money on a lease, when I trade my 996 do I automatically lose it's "value" if I total the turbo driving off the lot?
Lease through your business if you can(write off 60-90%)
Do not reduce the cap cost ie) pay down or trade in your car, if you do total the car, that money is gone. Lease for full value! Sell your trade in car for cash.
You can get the buy rate with some effort. I wrote a letter that I believe got me from .0037 to .0032.
Take the money you would have paid for the car and invest it. Even with a modest gain of 6%, you come out ahead
If you love the car at the end of the lease, have heavily modified it, or there is equity there, buy the residual from your personal account.
Most important of all...Have a great time Driving Her
03-27-2007, 02:26 AM
#30
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Doug,
just do it. You won't regret it. Leasing with a closed end lease also removes the risk of unforseen depreciation from your purchase. The bank is assuming that risk for you.
just do it. You won't regret it. Leasing with a closed end lease also removes the risk of unforseen depreciation from your purchase. The bank is assuming that risk for you.