Last post on Dec 04, 2013 at 4:31 PM
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Porsche 911, Car Leasing, Car Buying, Coupe, Convertible
#20 of 680 Re: 911 Carrera Coupe lease payments [gblind8]
Nov 05, 2006 (12:32 am)
Alright, you made me work a little harder, but no problem. I assumed a sales tax of 7% and was able to back out from your other numbers that your capitalized cost (discounted price) is $69,500, about $4500 under MSRP. Your Money Factor equates to an interest rate of just under 8% (.00330 x 2400). If those are the Porsche Financial residual factors and money factors, your discount seems reasonable. The dealership should give you the information on the capitalized cost at some point prior to you signing the contract. I have not been shopping the vehicles for awhile, but I did get $10,000 off MSRP in 7/06 for a 2006 C4 Cabriolet with MSRP of $93,000, purchase price of $83,000. Good luck, they are awesome vehicles!
#21 of 680 Re: 911 Carrera Coupe lease payments [gblind8]
Nov 05, 2006 (12:37 am)
I think the residual of 57% is too low. Is that a Porsche Financial figure or some other lease company. See the other recent postings from fellow lessees. It seems your residual should be closer to 62% for a 36month/36,000 mile lease, which would translate into $3700 more in your pocket over the course of the 36 month lease or about $100/month. I should have checked those other posts first!
#22 of 680 Re: 911 Carrera Coupe lease payments [martinf]
Nov 05, 2006 (7:37 am)
MartinF is correct. 57% might be the residual for a 2006 model but the 2007 models should be around 61% - 64% for a non S 2007 coupe (depending on miles per year).
#23 of 680 Re: 911 Carrera Coupe lease payments [bwedotnet]
Nov 06, 2006 (4:41 pm)
Just made a deal and here are the final #'s:
2007 911 Carrera Coupe
only options are floor mats and arctic silver metallic paint
US Bank Finance Company
0.00202 Money Factor
$71,281.38 Selling Price
$1,163/month, tax already included
Did I get a good deal here?
Looks like I benefited from the lower money factor.
I was considering the Cayman S but the payments were coming in at the $1,061 range (because of the much lower residual on that car). I figured I'd go ahead and spend an extra $100/month for the 911 but of course the options are minimal compared to the Cayman S.
Any thoughts would be much appreciated. Thanks for all the help so far!
#24 of 680 Re: 911 Carrera Coupe lease payments [gblind8]
Nov 06, 2006 (8:13 pm)
The money factor looks good compared to what Porsche financing is currently offering (~.0032). No need for a lot of options - most of the options are cosmetic anyway. If you shopped around a bit you might be able to get a lower price, but not by a lot. It looks like a decent deal to me. You'll love the car, enjoy.
How did you end up with US Bank? Did you go through a lease company or direct?
#25 of 680 Re: 911 Carrera Coupe lease payments [bwedotnet]
Nov 07, 2006 (12:38 am)
Thanks bwedotnet for the input.
The dealer was the one who selected US Bank. He compared US Bank vs Porsche financing. I could have used Porsche financing with the same monthly payment but the residual was higher (60%) so if I decide to buy the car at the end of the lease, it will be to my benefit to go with US Bank. The Porsche financing money factor was .0031.
If I were to use Porsche financing the sell price would have been $67,500, an 8.78% discount which is consistent with the discount percentages users here are seeing.
Also my tax rate was 7.25% since I'm in Ventura County, California.
#26 of 680 Re: 911 Carrera Coupe lease payments [gblind8]
Nov 07, 2006 (11:33 pm)
What was the name of the dealership? The deal sounds very good, especially if you are considering purchasing at lease end.
#27 of 680 Re: 911 Carrera Coupe lease payments [martinf]
Nov 08, 2006 (5:36 pm)
I think that deal is in line with what you can get if you shop around. Porsche is currently offering a higher residual but their MF is also higher. Of course, if the payments are the same it is much better to have a lower residual and lower MF.
I found that leasecompare.com quotes tend to be in this range. i.e. much lower residual value but much better MF. The payment comes out about the same as the current Porsche program.
#28 of 680 Re: 911 Carrera Coupe lease payments [martinf]
Nov 08, 2006 (10:13 pm)
The dealer is The LA Auto Gallery in Woodland Hills, CA.
I must admit though, it was tough finding a lightly equipped 911; as we all know, Porsche options are quite pricey.
#29 of 680 Re: MF for 2006 C4 cab [ajitpk]
Nov 19, 2006 (5:12 am)
Hi ajitpk. Porsche Credit's current buy rate lease money factor and residual value for a 36 month lease of a base 2006 Porsche 911 C4 Cab with 12,000 miles per year are .00310 and 53%, respectively. The numbers for an otherwise identical 48 month lease are .00320 and 46%. The money factors for an identical 2007 model would be the same, but the residual values would increase to 61% for 36 months and 55% for 48 months. The higher residual values make the 2007 model's lease program much more attractive right now. Which model has a better lease payment will depend upon what sort of selling price you can negotiate on the 2007 model.
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