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Prices Paid: Buying & Leasing Experiences Porsche Boxster Lease Questions
188 messages, Last post on Nov 24, 2009 at 2:53 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Thanks for the additional information, John. I need you to provide me with this car's prices including the destination charge in order to calculate an accurate lease payment for you. I notice that your most recent quote includes a $5,000 capitalized cost reduction. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Boxster would be exactly the same, regardless of whether you had put $5,000 down, or had made absolutely no down payment at all. Car_man Host Smart Shopper / Prices Paid Forums |
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| Hi CarMan: Do you have any reliable info on money factor and residual percentages for the 2005 and 2006 Boxsters? I know how to calculate the lease, just want to see what you feel is out there right now. I've had dealers try to mark up the money factor on me in the past. I'm looking at ordering one in a month or two (probably 2006 model) for Feb or March delivery. I know that there's no way that I can predict what rates will be at that time, but just want to get a feel for how porsche handles their lease rates. I'm assuming that I cannot "lock-in" any rates prior to accepting delivery of the vehicle. Is that accurate? Thanks! Cheers! | |
Excellent user id, martini4me  . Yes, I have seen Porsche Credit's current lease program for the 2005 and 2006 Boxster. As usual, Porsche is not providing any sort of money factor support on this car. As a result, if you were to lease one through Porsche Credit right now you would have to use its standard lease money factors. Its buy rate standard money factor for a 36 month lease is .00270 through the end of October. It is difficult to say what its money factors will be like after that date. I am not sure if Porsche allows consumers who order vehicles to lock in their lease program at the time that the order was placed. I am sure that your dealer will know the answer to this question. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 28, 2005 3:11 am) I have a question regarding leasing as well. I am looking to purchase a 05 Boxster due to the fact that the dealers in my area are offering $5,000 off msrp. I am planning to negotiate even more, perhaps $6-7000 off and would like to know how much my month leasing payment would be. The msrp of the car including destination charge is about $49,500, so with the discount, let's say $6000 off would be $43,500. I am planning to put no down, do a 3yr and 12k miles/yr lease, and my sales tax is 8.25%. If you can help me come up with some figure on how much it will cost me, that would be greatly appreciated. I have always pay cash for my cars and this is the first time I am considering leasing. Thanks!! |
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Hi davezaristo. I would be happy to give you an idea of what your lease payment should be like on the car that you are interested in right now. If you were to lease a 2005 Porsche Boxster (not the S model and without Tiptronic) with an MSRP of $49,500 and a selling price of $43,500 through Porsche Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $656. By the way, since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 12, 2005 3:27 am) Also, what is your view on lump sum lease? My credit card is providing me a great rate of 1.99%APR for the lifetime of the loan and I was thinking about taking advantage of that. Will I still be able to write off those lease payments for tax purposes? On a lump sum or monthly basis? (I know i may need to ask my accountant but thought that you may know so i'll just ask here) Finally, does zero down means all DMV fees and doc fees are built into the lease payments already? I am asking alot of questions, but I am unable to find the answers in ordinary leasing guidelines so i hope that you can shed some light. Again, thank you so much for your help!! |
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| Hey Car Man: Thanks for the money factor info for 36 month lease. Do you also have info on residual % and money factor for 48 month lease in the 2005/2006 Boxster. I plan to get a tiptronic and will probably lease for 48 months / 12000mis/yr, since the car should be under warranty for the full leasing period. Thanks for the info...sorry to be a pest!! Cheers! | |
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| do you know anything about Porsche Options financing?....looks like it's $100 cheaper per month than a lease, but with a balloon payment (their website indicates that balloon payment only due if car not returned to dealer). Maybe residuals are different? I'll ask a dealer for info too, but wanted to see if you had any words of wisdom. Many thanks! | |
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Local dealer is offering invoice pricing on all remaining '05 Boxsters in stock. The one I am looking at has a $53,795 (including freight) MSRP. They will sell it for $46,998. Assuming a 3 year, no money down, no cap cost reduction, 10,000 miles per year lease, what is your best guess as to monthly lease payments. Thanks
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You're welcome davezaristo. Besides making sure that you are getting an attractive selling price on your car, the other main negotiable item that you need to pay attention to is the money factor that is used to calculate its monthly lease payment. This item is only quasi negotiable though because dealers cannot lease vehicles using lower money factors than banks allow them to, but they can mark-up banks' buy rate money factors to add additional back-end profit to deals. Find out the buy rate money factor for the car that you are interested in and make sure that it is being used to calculate the lease payment that you are quoted. Vehicles' residual values are never negotiable so you don't have to worry about that aspect of your deal. Advance Pay or One Pay leases can be a good way to get a new vehicle, IF the discount in the money factor that is used to calculate the interest portion of your lump sum payment is attractive enough and if you have the liquid assets to make all of your vehicle's payments at one time. I'm not an accountant, so I really cannot comment on the tax implications of a single payment lease. When I say zero down, I mean zero capitalized cost reduction. Even consumers who opt not to make a cap cost reduction have to pay money at lease signing. At lease signing lessees usually have to pay their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, the acquisition fee that the bank that they are leasing through charges, and any required state taxes or fees. Many banks will waive their security deposit requirement in exchange for a slight increase in the money factor that is used to calculate a vehicle's lease payment. Also, lessees can usually roll the acquisition fee and any state taxes or fees into their vehicle's capitalized cost and finance them in their lease if they want to. So, you should be able to drive away in a leased vehicle only paying your first payment if you want to. Car_man Host Smart Shopper / Prices Paid Forums |
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