AK1

Hi, Porsche Finance rates for a 2011 Cayenne are currently 6.9% for finance. Very high compared to say Touareg 2.9%.

In people's experience, are these rates negotiable at all? Or are the rates ever discounted?

We are flexible with our ordering date for a Cayenne S and could wait until a decent finance rate or dealer price incentive.

Turbodan

go for the toureg...especially the Turbo diesel...can you say TORQUE?

AK1

The Turbo Diesel is the only model we considered. But stacked up against a V8 Cayenne and the handling of the Cayenne, my wife says it has to be the Cayenne, bless her!

Ronan

I have had a couple of Touaregs before current Cayenne. I would definitely consider the VW

AK1

Thanks but I would love some input on my original question regarding Porsche Canada finance rates.

The Stig

Finance rates are usually reset monthly by the parent depending on the their current funding costs. It's a function of how/where they raise money to lend to consumers and what it costs them.

I'm not sure if Porsche has their own finance arm or they outsource the service to another lender. If they use a third party lender, the rates are dependent on whatever rate program the lender offers.

Long and the short - the rates are what they are - I don't think the dealer has the ability to adjust the rates. Unless they have a scheme were you can put down additional refundable deposits for the term of the loan and in effect "buy-down" the interest rate. I know Lexus does this.

Porsche Canada and Porsche NA are a low volume premium brand. They may not have access to rate "deals" a company like Hyundai or Mazda. Nor would they want to be viewed as offering 0% on all new GT3s. They may, but I doubt it. Their customer demographic is likely one where most either self finance (at lower rates) or purchase for cash. So again - they don't really have an incentive to go out and give away their cars.

If they use a third party lender that charges the client 6.9% - how much do you think that lender is charging Porsche for the privilege?

Dale Gribble

AK1: if you talk to your bank you might be able to get a personal line of credit or if you have a Mortgage with RBC for instance, with the home loan program, you might be able to use ur paid up balance on the mortgage towards the car at a rate between 2-4% as opposed to conventional auto financing.

Good luck with your purchase.

Turbodan

my guess is he wants to lease it.

IXLR8

Well if you can't get neither, consider one from the US. My neighbour bought his Cayenne someplace in the Chicago area. Saved big!

I noticed that Porsche Canada lowered their prices; they are still a long way off US pricing though.

ronnie993tt

I understand Stoddard Porsche in Cleveland is set up to facilitate selling to Canadians. Good luck...

AK1

Thanks for all the responses. Yes, I am leaning towards leasing. With the recent price drop by Porsche Canada, it's less compelling to buy in the US.

Christien

Not as far off as they once were. Savings are still there, but it's down around 10-15% now, after all the import costs, even on a DIY import. Duty really stings on a Porsche, but also on certain Cayennes, they'll get hit with the excise (gas guzzler) tax at the border.