GeoT3

A friend of mine just leased a 09 GTS list $87430... he got a lease with 15,000 miles per year, 12,450 down and a monthly payment of $1400 is this a good deal for 36 months?

jaholmes

I'm not up on all of the Lease lingo, but I was at the dealer the other day and they were throwing around $500.00 a month for a GTS. They may have been quoting a lower mileage number.

medtech

Good deal?

Not when you could buy a used CTT for $50K.

yetis

$50k takes mine! (then I woke up.)

BSL

The only way you would get to that number is with a HUGE downpayment--it takes a lot to get a stripped Boxster to $500.

To the OP, that seems a bit on the high side. It sounds like sales tax is rolled into it, there was no discount from sticker price, and the rate was marked up a bit.

alex911s

that's about right George especially if his purchase price is what you've stated....

find out the residual and money factor

then compute the payment

(purchase price - residual) / no of years = depreciation

(purchase price + residual) X money factor = interest payment

depreciation + interest payment = monthly payment

andrew911

Holy crap- I don't know if this is a good deal as far as a lease mathematically speaking, but man this lays on the line how rediculous leasing can be. I know he's effectively financing most of the cost, but still....he's basically renting a car for 3 years and turning it in and hopefully not having any back end payment due for over mileage or scratches, dents, etc. He's paying $62,850 and has no asset to speak of- that's over $10,000 more than I paid cash to buy and own as long as I like our cayenne S titanium last spring!

Sorry for my "rant"- I learn more and more about the credit crisis everyday....

User 4221

+1

$63k is a lot of coin to lay down with no asset ownership. It's almost like buying a new V6 Cayenne and watching it depreciate to $0.

To each his own, but this seems like a bad financial move unless $1400/mo is chump change to this guy.

cbditty

thats about right for a loaded gts, now is just a very bad time to lease since the residuals are in the toilet for any SUV

when they first were available you could lease a gts for 1,600 a month, $0 down, 36 months

better off taking over somebodies decent lease from last year on swapalease or leasetrader than doing a new one today

Slow Guy

Many figures missing on that lease but the numbers that are there don't look good. Of course, he may have traded in another vehicle that he was seriously upside down on and that would have a significant neg. impact on the end result.

We leased my wife's replacement '09 BMW 328 Conv. but that was due to the fact NO ONE inc. BMW offers a extended warranty that covers the convertible hardtop. Of course I had to fight with the dealer when they tried to mark-up BMW's Money Factor, after what I went through they had some gall trying to mark up anything. Dealership finance guy said rarely does anyone ask about MF and rarer still do they even know what BMW's official figures are so they have no qualms about marking up the rate......