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Porsche 911 Lease Questions

136 messages,  Last post on Jun 10, 2008 at 2:07 PM

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What is this discussion about? Porsche 911, Car Leasing, Car Buying, Coupe, Convertible

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#60 of 136 Car man – Is there a better deal? by caboman1 Feb 21, 2007 (10:46 am)
Car Man,   I'd appreciate your opinion on this lease through Porsche Credit.   Carrera S Cab MSRP $121,290   Cap Cost $116,938 ( This includes $6000 needed to pay off my trade, so the negotiated cap cost was actually $109,938)   Residual $49,456   Due at signing   Cap Cost Reduction $26,578.98 (I want to do this to reduce my payments so I can lease the car through a business, and I plan on buying the car after the lease is over)   1st mo pmt $1216.64 Tire fee $8.75 Registration $781 Sales and Use Tax 2059.87   60 mos 12K per year   Pmt including tax $1216.64   Thanks,   Caboman1 Replies to this message: bwedotnet (Feb 22, 2007 5:41 pm) habitat1 (Feb 25, 2007 6:08 am) Car_man (Mar 19, 2007 3:38 am)
#61 of 136 Re: 2007C2Cab [outdrguy] by bwedotnet Feb 22, 2007 (5:20 pm)
Replying to: outdrguy (Feb 17, 2007 10:02 am) looks like a good deal to me.
#62 of 136 Re: Car man – Is there a better deal? [caboman1] by bwedotnet Feb 22, 2007 (5:41 pm)
Replying to: caboman1 (Feb 21, 2007 10:46 am) Caboman:   Don't put down a large cap cost reduction.   Here is some feedback from Car Man regarding Cap Cost Reduction from some other lease forums on Edmunds:   "you may want to consider not making any sort of capitalized cost reduction on your lease. You would be better off going with a zero down lease."   "If one totals a leased vehicle in an accident, their vehicle is gone and with is goes any benefit that they were receiving from having made a cap cost reduction."   "It's true that it is not really a good idea to make capitalized cost reductions on leases. Consumers who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered."
#63 of 136 Re: Car Man - What do you think? [sje3333] by bwedotnet Feb 22, 2007 (5:53 pm)
Replying to: sje3333 (Feb 19, 2007 9:21 pm) If it is a 2007 model year your discount is good - not so good if it is a 2006 vehicle. The payment seems inline with the market.   Carrera S vs Targa 4 - two very different vehicles and a very personal decision. Drive both back to back and pick the one you like best. My choice would be the C2S.
#64 of 136 Re: Car man – Is there a better deal? [caboman1] by habitat1 Feb 25, 2007 (6:08 am)
Replying to: caboman1 (Feb 21, 2007 10:46 am) "Carrera S Cab MSRP $121,290"   Are you kidding??   My 2005 S Cab was fairly well loaded (nav full leather/power seats, bose, sport chrono, sport exhaust, etc.) and came with a MSRP of $102,880. The 2007 equivalent MSRP would have been $106k +/-. I got a $10,800 discount on mine in September 2005. Your quoted price is a $11,400 discount - which would be very good - except it sounds like the car is loaded up with (excuse my bluntness) a lot of cosmetic junk. There are a lot of C2S Cabs with MSRP's of 105k or less that are VERY well equiped.   I can pretty much guarantee you that, if my assumption is correct, this car will take an enormous hit on depreciation due to the limited (in some cases NEGATIVE) resale value of custom colors, over the top interiors with graphite packages, etc., etc. I've seen cars sit on dealer lots for months with prices at or below a nicely equiped silver/black car that has decent options. If this overloaded 911 S Cab is just your cup of tea and you intend to keep it for 10 years, great. But in any less time than that, a 911 Turbo at $130k would be a less costly car to own, factoring in resale.
#65 of 136 targa 4s discounts by john_galt Feb 25, 2007 (8:29 am)
Anyone know what kind of discounts are reasonable on the new Targa 4S?   I've seen $3k with no markup on financing. I aslo heard $5k, but there was a markup on the financing that I believe made the first deal far better.   If the car is like prior versions, I expect that later in the model year, it will again turn out to be the least popular in the 911 family and far larger discounts will be had.   Thoughts? Experience?
#66 of 136 Re: 2007 Targa 4S [vwguild1] by Car_man HOST Mar 19, 2007 (3:10 am)
Replying to: vwguild1 (Feb 15, 2007 11:42 am) Thanks for the insight, vwguild1. Given Porsche's traditional lack of lease support, I'm not surprised that an independent bank has a better lease program than Porsche Credit does.   Car_man Host Prices Paid Forum
#67 of 136 Re: 2007C2Cab [outdrguy] by Car_man HOST Mar 19, 2007 (3:13 am)
Replying to: outdrguy (Feb 17, 2007 10:02 am) Hi outdrguy. The selling price that you were quoted looks pretty good to me. The lease program that you mentioned looks very good as well, much better than Porsche Credit's current program for this car. If you like it, I personally don't see any reason not to pull the trigger on this deal.   Car_man Host Prices Paid Forum Replies to this message: outdrguy (Apr 11, 2007 9:28 pm) jax1fdr (Apr 20, 2007 3:37 pm) Car_man (Apr 23, 2007 4:00 am)
#68 of 136 Re: Car Man - What do you think? [sje3333] by Car_man HOST Mar 19, 2007 (3:30 am)
Replying to: sje3333 (Feb 19, 2007 9:21 pm) Hi sje3333. You stated that this car's invoice is $89,205. Did you mean that is its MSRP? I suspect that is the case. If you are really getting it for $5,800 below dealer invoice, you are getting an outstanding deal. I am not intimately familiar with what the market is like for this car in your area, but this car has around a $10,000 spread between its full MSRP and its dealer invoice price. You are being quoted a discount of $5,800 from its MSRP, this isn't bad but there is still some room there. It probably wouldn't hurt to try to negotiate a little more or to shop around, but I don't know if you can do better than this.   As far as this car's money factor goes, Porsche Credit's current buy rate lease money factor is .00310. This is equivalent to an interest rate of around 7.4%. There is a decent chance that you can do better than that by leasing through an independent bank. If one has a better program than Porsche Credit, your dealer will likely steer you in that direction.   Car_man Host Prices Paid Forum
#69 of 136 Re: Car man – Is there a better deal? [caboman1] by Car_man HOST Mar 19, 2007 (3:38 am)
Replying to: caboman1 (Feb 21, 2007 10:46 am) Hi Caboman1. You were quoted a $11,300 discount on this car. That sounds like a pretty reasonable discount to me. Normally I advise consumers against making large down payments on leased vehicles, but if your business is paying for this lease and you don't mind risking losing this money if your car is stolen and never recovered or totaled in an accident then I guess there's nothing wrong with making one. Keep in mind though that down payments on leases do nothing to reduce vehicles' lease-end purchase prices. Your purchase option price is based upon a percentage of your car's full MSRP, regardless of how large a down payment you make.   I also usually advise consumers against leasing for such a long time. A lot can happen over the course of a 5 year lease to make you want or need a new vehicle. Your family situation could change, your commute could change causing you to go way over your mileage allowance, your job could change causing you to want a more or a less expensive vehicle, or you could just plain get sick of your vehicle. I usually recommend that consumers lease for 39 months or less.   If you are comfortable with entering into such a long lease and making such a large down payment, this car's price looks pretty good to me. Just make sure that the dealer that you are working with uses Porsche Credit's current buy rate lease money factor of .00310 to calculate your car's monthly payment and you're in business.   Car_man Host Prices Paid Forum

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