What are you people seeing for lease rates for 3 or 4 year leases on cayenne and cayenne s's, with no money down, or money down if you paid it. how many miles are you allowed. thanx. is tax included in the payment?

 

CayS:
one of the cheapest, the most accessible for reasonable lease example:

MSRP $60000,
discount 8% =about $4.5K (may be 7-10%=about $4.0-5.5K off)

$710 mo tax included for 39 mo, residual 54%, money factor .0025 from PorscheFS, 12K mi, $6K down plus bank fees about $1-1.5K.

$670 mo tax included for 48 mo, residual 49%, money factor .0025 from PorscheFS, 12K mi, $6K down plus bank fees about $1-1.5K.

...for less MSRP or no money down make your own calculation accordingly...

...for CayV6 apply same % of discount or LESS and similar other %s...


OZRacing

 

Hi all,

could you explain some of the terms used here. I am quite ok mathematically so I will be able to build a spreadsheet to calc al the components of a lease once I understand.

MSRP is clear! What is $730 mo tax? Residual must be the value of the vehicle after the lease term, for which I could buy it to own it? What is the money factor?

Thanks for help

Toby Wan

 

...$710 PER MONTH TAX INCLUDED IN A MONTHLY PAYMENT...LOL

...for other references to general lease terms and a GOOD lease simulator/calculator go to www.leaseguide.com



OZRacing

 

For those interested - Money Factor is the way interest is expressed in a lease. To find the corresponding interest rate, multiply the money factor by 2,400.

For example, in the lease mentioned above, the MF is .0025 x 2,400 = 6% interest. Quite a good rate, especially coming from Porsche Financial, who is notorious for being higher than outside banks/CUs.

The hardest part of estimating what the lease payment will be even before you walk into the dealer is finding the residual percentage.

FYI - Many dealers are allow the customer to "negotiate" a fantastic Cap Cost to make them think they are getting a great price, and then jack up the money factor to still make their money on a lease. I know for a fact that Power dealers do this ALL THE TIME!!

 

The key variables are money factor, residual percentage and, obviously, the negotiated price (cap cost).

I think current good money factors are about .0025 and its probably hard to find something better.

Residual percentages are set by the banks / finance companies. I believe they have dropped recently (making the lease more expensive) since the used market hasn't been good over the last year.

I have a good and long relationship with my dealer and they have no problem pulling out all the bank charts and showing me residuals and money factors, but a dealer can pocket the difference if they charge a higher money factor (the money factor does not show in the lease contract).

There are many software programs for lease calculators; I have one installed in my Palm Pilot. I just did a quick Google search and you might look at www.leaseguide.com, which has calculators online (don't know if this site is good or bad but looks like it would help).

Keep in mind the residual is based on the sticker price times the residual percentage, possibly including some add-ons but not others (the bank's won't "residualize" certain accessories).

 

i am paying 1350/month including michigan tax.....36 month lease no money down 15k a year in miles....

 

HI,

can you split the $1350 into its components. What was the dealer price of your car. What the residual value. Looking to test drive a TT next Saturday and am looking at the 2005 TT for a lease as a company car.

Thanks for your help in advance

Toby Wan

 

Remember taxes can make a big diff. Each state can do it differently. Some states charge tax on purchase price, some do a % of payment, and there are situations where BOTH are applied. Your local dealer would be the expert.