I'm kinda the OP after hijacking this thread from "op487062" (sorry). The lease for a $140k car was $3,400 down and $2200/month because of the “MRM” Maximum Residualized MSRP. So after the feedback from both sides on lease -vs- purchase, I ended up purchasing it (today). If I had not gotten so click happy with the options, and instead ended up with a base $100k car, I would have probably leased it with one of the $1,000+/month lease deals.

 

Without actually doing the calculations, I think you probably could have received more than 4k off sticker. BUT, this is subject to location as well as time of year to some degree. So don't feel so bad about it. Also you should know that putting money down, aka cap reduction, is never advisable. In short it puts you in a situation where if you totaled the vehicles early on, you MIGHT not be compensated for every dollar. Best to just put everything in the payment and put your 12,500 into the money market account or your liquid asset of choice and then slowly apply it to your payments.

In the future, I highly recommend going on the edmunds car forums and finding the residual values, mf and any incentives which might be relevant to you. You can then use a lease calculator to do the math and get the payment you need in a matter of minutes. If your knowledge of finance is minimal, no worries most people cannot calculate a lease which is why leases get such a bad rap, then do some google research on the basics. Like I said before though, edmunds.com and their forums are the best resource I know of for this type of info.

 

The 05 car -
I never expeced to sell it . At that time my region (Miami) experiened an enormous amount of xenon light theft . Search the forum or google and see . Mine were stolen so badly on my 02 996 that the entire front end was torn off . My 05 car had both front and rear stolen . One guy even posted that his was stolen 3 times off the same car (once while he got a haircut) . I had another car so i simply chose to drive that ( a BMW) and sell the beautiful launch car Porsche 997S .

The 07 car -- I got a good deal but nowhere near as good as my 09 car .

The 07 Turbo --I still have it.

The 09 car -- When the Dow was hovering at or near 7K no one was Porsche shopping . Someone posted at that time in the 997 section that he got 20 percent off on a car and that Porsche had overproduced the 09 cars and there was surplus on the boat to the point that dealerships were being offered huge incentives . In fact SEVERAL guys on that forum did in fact get 20 percent off .. not just me. It's not the case in todays new Porsche market.

 

Good choice !!
Had you leased the 100K car you would have had 2 or 3 years of time perhaps wishing you had bought the one you ended up getting .

I even feel that if you didn't finance it you'd end up ahead when you deecide to sell it . Either way ... congrats !!

 

anyone know what the 991 Cab lease residuals are? Either C2 or C2S?

 

Bad move putting any money down, much less over $12k. Wreck your car and all that money is lost forever. Better off putting the cash in an account to help pay off your monthly bill.
You should be able to do much better on the price, 3% off isn't enough.

 

Definitely good insight (as well as the previous post from carsrmyvice). This was my first ever lease and I really rushed it to get out of my last car. I had this suspicion that my early model 2008 M3 was a ticking time bomb. Anyhow, live and you learn. No regrets.

 

Good attitude sir. I am sure it has served you well and been a large part of how you came to afford such a great car. Enjoy your c4s in good health.

 

Thanks. LOVE the car so far. Wheels are being painted as we [type] so I will post some new pics soon.

Quick question: With the added down payment that I made (ie cap reduction), the only real downside is the risk of totaling the car, right (setting aside the idea that the money could have been invested, etc)? In other words, if i don't crash the car, no difference, right? Just making sure there isn't some other aspect I'm missing. I'm OK with that because if i total the car, i would think I would have far bigger problems than heartburn over the money.

 

Correct, you may actually be ahead, I think the interest is calculated on the adjusted cap cost, you just pay on what you "borrowed".

 

Yes a total loss combined with the other angle, which you mentioned, in which you would have invested it at some rate of return x.

I actually would have prepaid my lease in full had porsche offered enough of a mf reduction to do so, but they do not. I believe a single pay lease has a mf of .0015 or something like that. Hell if I am paying in full there should not be a money factor lol. Porsche knows this and it is where they make some of there money, dealers know this and attempt to mark it up in order to fatten profit margins. Many people lease in order to mitigate the risk of financial loss. Many scorn the cap reduction as it usually points to shopping by payment, rather than total cost.

 

With a pre-paid lease, you're still borrowing the residual right?, so they want interest on that money. I would think that's fairly standard, but I've never looked into the pre-pay option.

 

Correct. So the rent charge = (net cap + residual) x mf

Thus if your p car is 100k sticker, you negotiate down to 93k, mf is .002, your residual, assuming c2 base 15k/year pdk is 74% or 74,000 in our case.

So rent charge is (93k + 74k) x .002 = $334 per month

If you prepay at .00015 this portion of your payment would decrease to $250 per month, for a savings of $84 per month. Not enough for me to pass on the totaled my 911 insurance provided without a prepay.

edited as I mixed up the #s lol these things certainly are made to confuse

 

Hey, $84/mo for 24 months gets your exhaust (or part of it)

I just want to know how/where to get 7% off the purchase

 

Very true but I also took into account the fact that I keep the money invested fairly aggressively. Which has been fruitful as of late

As said before, discount varies by region, dealer, and season. As well as model. For instance when a model is just released, do not expect a large discount ie) the 14' turbo.