- #21 of 231
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Re: 911 Carrera Coupe lease payments [gblind8]
by martinf
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Nov 05, 2006 (12:37 am)
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Replying to: gblind8 (Nov 04, 2006 10:32 pm)
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!
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- #22 of 231
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Re: 911 Carrera Coupe lease payments [martinf]
by bwedotnet
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Nov 05, 2006 (7:37 am)
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Replying to: martinf (Nov 05, 2006 12:37 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).
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- #23 of 231
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Re: 911 Carrera Coupe lease payments [bwedotnet]
by gblind8
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Nov 06, 2006 (4:41 pm)
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Replying to: bwedotnet (Nov 05, 2006 7:37 am)
Just made a deal and here are the final #'s:
2007 911 Carrera Coupe
6 speed
only options are floor mats and arctic silver metallic paint
US Bank Finance Company
0.00202 Money Factor
$41,440.00 Residual
$71,281.38 Selling Price
$74,000 MSRP
15k mi/year
36 mos
$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!
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- #24 of 231
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Re: 911 Carrera Coupe lease payments [gblind8]
by bwedotnet
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Nov 06, 2006 (8:13 pm)
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Replying to: gblind8 (Nov 06, 2006 4:41 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?
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- #25 of 231
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Re: 911 Carrera Coupe lease payments [bwedotnet]
by gblind8
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Nov 07, 2006 (12:38 am)
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Replying to: bwedotnet (Nov 06, 2006 8:13 pm)
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.
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- #26 of 231
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Re: 911 Carrera Coupe lease payments [gblind8]
by martinf
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Nov 07, 2006 (11:33 pm)
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Replying to: gblind8 (Nov 07, 2006 12:38 am)
What was the name of the dealership? The deal sounds very good, especially if you are considering purchasing at lease end.
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- #27 of 231
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Re: 911 Carrera Coupe lease payments [martinf]
by bwedotnet
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Nov 08, 2006 (5:36 pm)
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Replying to: martinf (Nov 07, 2006 11:33 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.
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- #28 of 231
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Re: 911 Carrera Coupe lease payments [martinf]
by gblind8
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Nov 08, 2006 (10:13 pm)
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Replying to: martinf (Nov 07, 2006 11:33 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.
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- #29 of 231
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Re: MF for 2006 C4 cab [ajitpk]
by Car_man HOST
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Nov 19, 2006 (5:12 am)
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Replying to: ajitpk (Oct 23, 2006 5:06 pm)
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.
Car_man
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- #30 of 231
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Re: 911 Carrera Coupe lease payments [gblind8]
by Car_man HOST
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Nov 19, 2006 (5:20 am)
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Replying to: gblind8 (Nov 03, 2006 3:50 pm)
Greetings gblind8. You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.
Car_man
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