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Porsche Cayman Lease Questions

108 messages,  Last post on Nov 24, 2009 at 3:05 AM

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What is this discussion about? Porsche Cayman, Porsche Cayman S, Car Leasing, Car Buying, Coupe

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#65 of 108 Re: Caymen Coupe Lease [voodooist] by digiedit Jun 28, 2007 (5:59 am)
Replying to: voodooist (Jun 26, 2007 7:24 pm) MSRP - 54, 760 Sale Price $48,500   Trade in $21, 500 Amount owed on Trade in $22300   Down Payment $2800 (including first month) Residual $35220   Monthly payment $663 (includes negative equity for trade in)   Not sure what they money factor is.   Hope this helps Replies to this message: voodooist (Jun 28, 2007 7:49 am)
#66 of 108 Re: Caymen Coupe Lease [digiedit] by voodooist Jun 28, 2007 (7:49 am)
Replying to: digiedit (Jun 28, 2007 5:59 am) Thanks Digiedit,   Sounds like I should be able to work a better deal than offered the first time around.
#67 of 108 Base Cayman Lease Question by voodooist Jun 28, 2007 (8:16 am)
Hello,   I'm looking for suggestions on a Cayman Lease. So far this is the car I am looking at, though I did find one slightly more expensive with the heated seats, xenon lights and stereo upgrade that is an option also.   Base Cayman 5 speed with no upgrades other than the Arctic Silver Paint, 18" Cayman S wheels and some floor mats.    My credit is excellent,    I was quoted the following: 52,300 MSRP 48,789 Sale Price 3000 down 48 Month Lease 10K Miles per year $722.35 total monthly payment in CA (w/Tax)    We hashed through so many different scenarios that I am not sure if they are taking into account about 2K in equity I have in my trade in this calculation or not.    Miles aren't really an issue for me as I have another car, this is the weekend fun and trip car.    I have played with the leasing calculator on the site, but still not sure if I am plugging the numbers in correctly    Some have suggested that I save up more cash for a down payment and buy the car using extended financing such as a 72 Month loan.    Any suggestions and guidance would be greatly appreciated. Replies to this message: Car_man (Jul 02, 2007 1:22 am)
#68 of 108 Re: Base Cayman Lease Question [voodooist] by Car_man HOST Jul 02, 2007 (1:22 am)
Replying to: voodooist (Jun 28, 2007 8:16 am) Hello voodooist. Let me begin by saying that you really shouldn't make such a large down payment when leasing. I always advise consumers against making down payments on leased vehicles because consumers who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. This goes for any equity that you have in your trade as well. You would be better off having the dealer cut you a check for your trade rather than using the proceeds from it as a capitalized cost reduction.   The selling price that you were quoted for the Cayman that you are interested in looks reasonable to me, but it probably wouldn't hurt to comparison shop with another dealer or two to see if that is the best that you can do on this model in your area. Also, make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Porsche Cayman: Prices Paid & Buying Experience".   Once you arrive at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using Porsche Credit's buy rate lease money factor of .00310.   Car_man Host Prices Paid Forum
#69 of 108 2008 Cayman Lease, 36 mo. and $2500-3000 down by vmichael Sep 23, 2007 (6:40 pm)
Hello! This will be my first Porsche and I'm very excited, but would appreciate a little help from someone who knows more about leases (Porsche leases, to be exact) than I do. So thanks in advance for your help!   I am considering leasing a 2008 Cayman (in California) with a MSRP of $51,845. I haven't gone in to see the car yet, but plan to do so this weekend and if the price is right, I'll lease it. I talked to a salesman on the phone today and he said that he could get my monthly payment (on a 10,000 mile, 36 month lease) to be at or just below $800 per month, including taxes, with $3000 down. There is no trade in here. This seems a bit high to me; is it? How can I negotiate a better deal (I'd like to get the car at around $650 a month with the same or less down)- what is a realistic expectation?   Thanks again for your help! Replies to this message: habitat1 (Sep 25, 2007 2:16 pm) digiedit (Sep 25, 2007 5:28 pm) Car_man (Oct 23, 2007 1:23 am)
#70 of 108 Re: 2008 Cayman Lease, 36 mo. and $2500-3000 down [vmichael] by habitat1 Sep 25, 2007 (2:16 pm)
Replying to: vmichael (Sep 23, 2007 6:40 pm) I'm sure others will assist you on the lease feedback. However, if I might ask, why are you leasing?   By my calculations, you would be spending nearly $32,000 over 3 years to "rent" a car that would only cost about $52,000 to purchase outright (figuring the sales tax would be mostly offset by a 7+/-% discount off MSRP). Hell, why don't you just go the extra $20k and purchase it? Even at $650-700 per month instead of $800, you are still paying over half of the price of the car over a 3 year/30,000 mile lease.   Unless there is an overriding reason why it makes sense to lease (100% tas deductable business expense) it doesn't make sense to me. And the way I look at it, if I couldn't afford to pay cash for my current 911S or previous Honda S2000, I shouldn't be getting it. They are a discretionary purchase, after all. Just my perspective, for what it's worth or not.
#71 of 108 Re: 2008 Cayman Lease, 36 mo. and $2500-3000 down [vmichael] by digiedit Sep 25, 2007 (5:28 pm)
Replying to: vmichael (Sep 23, 2007 6:40 pm) You should be able to do better. This was my deal in June in Dallas, TX - BTW, The Cayman is a great car, but be prepared for every idiot kid in a Honda Civic / Mitsubishi Eclipse wanting to race you at stop lights - its actually kind of funny. I just sit there and watch them floor it - i'm WAY too old for that   MSRP - 54, 760 Sale Price $48,500    Trade in $21, 500 Amount owed on Trade in $22300    Down Payment $2800 (including first month) Residual $35220    Monthly payment $663 (includes negative equity for trade in)    Not sure what they money factor is.
#72 of 108 Re: 2008 Cayman Lease, 36 mo. and $2500-3000 down [vmichael] by Car_man HOST Oct 23, 2007 (1:23 am)
Replying to: vmichael (Sep 23, 2007 6:40 pm) Welcome vmichael. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. The best way to get a good deal on a leased vehicle is to negotiate its selling price and then have the dealer that gives you a price that you are comfortable with calculate your monthly payment using its buy rate lease money factor. Porsche Credit's current buy rate lease money factor for a 36 month lease of a 2008 Cayman is currently .00310 for consumers who qualify for its top credit tier.   I would be happy to give you my opinion of this deal if you tell me what this car's selling price is.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#73 of 108 Car_Man is above MF correct? by hannab Oct 24, 2007 (4:39 am)
The 36 mo MF's I am seeing are .00320, without mention of tiers. Thanks for all your valuable info. Replies to this message: Car_man (Dec 04, 2007 3:22 am) alphaomega (Dec 07, 2007 4:54 pm)
#74 of 108 Re: Car_Man is above MF correct? [hannab] by Car_man HOST Dec 04, 2007 (3:22 am)
Replying to: hannab (Oct 24, 2007 4:39 am) You're welcome, hannab. Through the end of the year, Porsche Credit's buy rate lease money factor is definitely .00310 for consumers who qualify for its top credit tier and pay a security deposit and its $745 acquisition fee at lease signing.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: alphaomega (Dec 07, 2007 4:54 pm)

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