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Prices Paid: Buying & Leasing Experiences Porsche Cayman Lease Questions
107 messages, Last post on Nov 04, 2009 at 4:34 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: lbh2315 (Mar 22, 2007 7:09 am)  That was a pretty brutal assessment by redsoxgirl - someone who is normally pretty pleasant in these forums. However, if you want an equally biased, but perhaps gentler assessment, I'd say negotiate your best cash deal on the Cayman, margin borrow against your long term investment account (assuming you can match the 6% Fidelity just quoted me) and buy, rather than lease it. I'm not going to claim expertise in the lease vs. buy analysis, but $800 per month on a $46,500 car seems way too high. Just stopped in the BMW dealership next to my Porsche dealership and the lease on a brand new loaded 335i coupe, with an MSRP of around $45,000 was UNDER $500 per month. Second, even though you may not care about ultimate performance, I'd have to disagree about the TT's weight. It is a cow. Nearly 3,500 lbs for the "roadster" is nearly 700 lbs more than my former S2000, 550+ lbs more than a loaded Boxster S that I considered in 2005 and 200 lbs more than the loaded 911 Carrera S Cabriolet that I bought. I even consider my 911 slightly heavy, but my daughters fit in the back and it's still capable of a low 4 second 0-60 sprint, so it's hard to complain. The TT - as with all Audi's - is just too damn heavy, without acceptable justification, IMO. And yes, I paid cash too. Previously paid off my mortgage and had the margin borrowing capacity, so I didn't feel guilty about losing the interest on my money at an after tax rate of about 3%. But, based upon your numbers, if I had a payment of about $1,500 coming due every month, I'd feel sick to my stomach. I am quite certain that after 18 months and 12,500 miles, I could sell my car for about $10,000-12,000 less than I paid for it, taxes included. Get whatever you want, but I think the Cayman is a true sports car and the TT isn't. Still.
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Replying to: lbh2315 (Mar 21, 2007 5:54 am) On the other hand, a tiptronic Cayman is pretty rare so if that is a must have option, you have limited choice. |
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Replying to: habitat1 (Mar 22, 2007 11:30 am) Porsche Financial Services subvents no rates v. BMW that carries of great deal of rate on their backs...4.9% on 2004s, for example. |
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I've never leased a car before and have been thinking about the Caymen Coupe (not S). Want manual transmission and maybe the preferred package. Dealer says there is a Porsche lease program right now of $5K down and $599/mo for 48 months. I know nothing about leasing. Is it better to buy under these circumstances? What would be the chance of getting them down from MSRP? Dealer has 20 Caymens on the lot right now. I'm leasing nieve.......please help! Thanks, Car Nieve |
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Replying to: carnieve (Apr 02, 2007 12:30 pm) |
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Replying to: carnieve (Apr 02, 2007 12:30 pm) That 48 month lease will cost you a total of approximately $34,000. Not sure what the exact MSRP is of the Cayman you are considering, but if it's in stock and the dealer has 20 Caymans on the lot, you should be able to get at least 8-10% off, maybe slightly more. Assuming the MSRP is around $53k for a base Cayman with just the preferred package and metallic paint, you should be able to buy that car for around $48k Hopefully, I don't need to point out that buying the car for $48k is a heck of a lot better than renting it for 4 years for $34k. Unless you are just strapped for cash, I'd buy it outright. And if you are strapped for cash or on a tighter budget, I'd wait (or buy a nice Honda S2000 like I did in 2001, before I bought our 911S Cab in 2005). In any event, don't buy or lease any Cayman without at least trying out the $920 sport chrono option. Have it in my 911S and the sport setting increases throttle response and makes the car feel much quicker. Not sure how much it will transform a base Cayman, but you should look into it. Good luck.
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| Thanks for your help - I'm off to the Porsche dealer armed with good info! I appreciate you sharing your knowledge! | |
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Replying to: lbh2315 (Mar 21, 2007 5:54 am) The selling price that you were quoted looks outstanding. Even with the marked up money factor, this is a good deal. As I said earlier, try to get the dealer to lower the money factor, but other than that I don't see any reason not to go for it. Car_man Host Prices Paid Forum |
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Replying to: carnieve (Apr 02, 2007 12:30 pm) Porsche usually does not provide lease support on its vehicles and the advertised Cayman lease that you mentioned is no exception. If you choose to lease a 2007 Cayman through Porsche Credit right now, you will have to use its standard lease money factor of .00310. This is equivalent to an interest rate of around 7.44%, which isn't great. Both leasing and financing or paying cash for this car have merits. Neither one jumps out at me as the better deal right now. Whichever one you choose, make sure to negotiate the selling price of the Cayman that you want. The selling prices of leased vehicles are negotiable, just as if you were paying cash or financing. Porsche dealers seem to be providing substantial discounts on the Cayman right now. If you decide to lease, negotiate the lowest possible selling price and then have the dealer that you are working with use the aforementioned money factor to calculated your monthly payment. You also should not make such a large down payment when leasing. I always advise consumers to put as little money down as possible when leasing. Lessees who make large down payments risk losing them if their vehicle is totaled in an accident or stolen and never recovered. Car_man Host Prices Paid Forum |
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Car_man, I was wondering if you know the current buy rate from Porsche Finanical for a New 2006 Cayman S leftover. I could not find any residuals or money factors for a new 06. Thanks.
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