Last post on May 16, 2013 at 2:58 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Porsche 911, Car Leasing, Car Buying, Coupe, Convertible
#134 of 540 Re: 2008 turbo coupe lease for april [egold1]
by Car_man HOST
May 21, 2008 (3:27 am)
Egold1, Porsche Credit's current buy rate lease money factor is only .00250 for consumers who have good credit. The dealer that you are working with is trying to mark up its base rate a lot to add additional hidden profit to your deal. This sort of thing is not surprising. It is very common at luxury car dealers, like Porsche. You can try comparison shopping with another dealer or two to see if they would be willing to use the buy rate to calculate your car's monthly payment, but the problem with getting a low volume vehicle like a 911 is that you may find they are not willing to.
Prices Paid: Buying & Leasing Experiences Forum
#135 of 540 Re: Leasing a Used Porsche [gocard1]
May 24, 2008 (10:47 am)
Are you talking about new cars?
Jun 10, 2008 (2:07 pm)
1st time 911 buyer here. Considering Carrera w/typical optional equip. Trying to decide what makes more sense...lease an 08 vs. buying a 2007 pre-owned. I don't have to have a brand new one...more interested in minimizing the cost to own over a 36-48 month period. I'm a low mileage driver 7k/year.
Have heard 2009s will be out in next 90 days or so. How will that affect the economics of my decision?
Thanks in advance to anyone who has insight.
#137 of 540 Leasing a custom ordered 2009 911
Sep 24, 2008 (7:26 pm)
Been reading Edmunds for years and have used the site to help buy/lease 5 cars, working my way up the automotive food chain from a couple of Jettas to my current car, an Audi S4 Cab. Well the lease is almost up on my cab and I am now planning to replace it with a custom ordered 2009 911 C4 Cab. List price on the car is $115,360 and the dealer's first offer is to sell it for $112,360. He is quoting a MF of .0028 and residuals of .59 (36 mos) or .53 (48 mos).
The questions I have are:
1) Is that the right MF? I've read here that it's currently .0027 and I've seen 3rd party lease rates on Porsches as low as .0026
2) Why are dealers so reluctant to negotiate on cars they order? I went through the same song and dance when I ordered my Audi (I ultimately got the car for $1000 over invoice) and they are starting it up again - 'we never lower the price on ordered cars, these are hard to get, blah, blah.'
Isn't an ordered car essentially risk-free money for them? They don't have to wait for someone to come in and take inventory off of their hands or hope that the config they chose will actually sell. What I'm getting at is how much leverage do I have to shop for the best deal (I'm in Boston and there are 8 dealers within 75 miles so I think I have plenty of options)?
#138 of 540 Re: Leasing a custom ordered 2009 911 [phil0sophy]
Sep 24, 2008 (7:49 pm)
phil0sophy - Congratulations on your upcoming purchase.
1) The money factor through PFS is 0.00250 with top tier credit and the residuals are correct for 10,000 miles per year (they can't adjust the residual). Other banks such as USBank have been aggressive (relatively speaking), but they are currently not providing lease rates on this vehicle.
2) I think you could do better on the selling price.
Sep 26, 2008 (12:01 pm)
2008 C2 Lease
$5000 Total drive off
Black/Black or Black/Tan
#140 of 540 Re: Leasing a custom ordered 2009 911 [eights38]
Sep 27, 2008 (5:07 am)
Thanks for your reply! I went back to them and lo and behold, the MF was changed to .0025 but then the drama started. lol
I wanted to put something in the P&S that would help prevent them from pulling a lease bait n' switch at delivery because they would have quite an advantage at that time - they would have my deposit and I would have already turned in my Audi.
They came back with the typical song and dance 'we sell C4s at full list all day, in fact we have a bunch on custom order for list price' and they were not willing to share some of the risk (i.e. that I could get my deposit back if the deal terms turned grossly unfavorable) on the deal. So I thanked them for their time and am going to shop for a better deal.
I read about Authority Car Buying on here a couple months back and I am going to see if they can help, I'll let you know how things go!
#141 of 540 Re: Leasing a custom ordered 2009 911 [phil0sophy]
Sep 27, 2008 (5:24 am)
My dealership is selling all '09's at sticker right now. They are limited supply and brand new. Deals are on the '08's. Granted, this is a sample of 1 dealership, but we are a large store and still don't have tons of vehicles to choose from on the '09's.
They are worth every penny.
#142 of 540 Re: Leasing a custom ordered 2009 911 [madmanmoo]
Sep 27, 2008 (5:53 am)
I don't doubt that, my understanding is that none of the dealerships have received many 09s and that there is a moratorium on selling that inventory because it is to be used as demo stock. But I am custom ordering my car and was looking to pick it up from the same place I leased my S4 cab (also custom ordered) when I turn that car in in a few months.
I do believe the cars are worth the money but I'd be hard pressed not to negotiate for a good deal on a $115k vehicle with the kind of econ turmoil we're seeing right now. Just because I can afford it doesn't mean I'm going to throw it away (or else I won't be able to afford much for long! lol).
Thanks for your input!
#143 of 540 Re: Leasing a custom ordered 2009 911 [phil0sophy]
Sep 27, 2008 (7:02 am)
phil0sophy - Where do you live? What dealer have you been working with?