grkmec

I have a 2009 Cayenne S coming off lease in November. I got it back in November 2009 and it was a 3yr / 36k mile lease. At the time of purchase, I scored a nice lease deal: $75k MSRP, Capitalized cost $62k, lease payment $983 tax included.

Today, a similarly optioned Cayenne S runs $80k with virtually no incentive, so lease payment is in the $1,400 ballpark. My Cayenne S has NAV, bluetooth, rear parking sensors, moonroof, heated front seats, heated steering wheel, trailer hitch, xenons, satellite radio, bose sound.

Current mileage is right around 31,500 and I can get the miles to 36,000 if I decide to turn the lease in. Residual payoff is $35,040. It looks like that's a pretty good deal. Am I crazy to buy this off lease? If I buy it for $35k, what do you guys think I could sell / trade it for when it is 5 years old with 55-60k miles?

Also can I get this CPO'd by dealer if I buy it off lease? Any thoughts or suggestions would be appreciated.

mudman2

get it cpo'd + third party to 100 and 6 yearsand take it

grkmec

I spoke to two dealers today. They both told me to be prepared to spend 4-5K plus new tires / brakes. They said they would charge me $300 CPO inspection fee, $2,500 CPO fee and a $2,000 processing fee.

It doesn't look like going the CPO route is in my future.

Little Green

Buy the car and save your $4800. You may need it down the line but may not need to spend anything right away.

grohgreg

Well, get a firm quote from that dealer for the final purchase price after certifying your car. Then initiate a search for a similarly or better equipped Cayennes that are already advertised as CPO. You might be surprised.

//greg//

bcbeak

For reference .. I just purchased a 2009 Cayenne Base from a Mercedes dealer .. that just took former lease car in with 27k. I paid $34k which was the best price I found in 6 months of researching Cayennes. No CPO .. but still under warranty until next June. Car is perfect and with every option. The CPO cars I saw were all $4-5k more. If you compare the Cayenne vs. all SUVs new and used in the $35k price range .. it is unbeatable with the exception of MPG. Buy that car!

seankrider

Processing Fee, a.k.a., profit. Make them a firm offer for that car CPO'd for $3,500 over residual. Assuming you think its worth $35K in current shape. But you would probably have to turn the lease in and they'd have to sell it to you again, i.e., sales tax.

old blue

What did you do, and how did it work out ?

I thought that the advice to get a firm offer and then check out cpo'd vehicles was a smart idea.

mike