997Current model of the 911 C2, C2s, C4, C4S, Targa and Cabriolet Discussion. Sponsored ByHRE Wheels
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The car that you could swing the best deal on IMO would be the C4S launch car, there are alot of them around the country. Reason, they are equipped with the Sport Bucket Seat option. 80 or so are around.
MY09 Inventory levels are something like this:
Coupes:
Sales have been BAD
Lease buy rate is now .00129 (3.096%)
The buy rate IS a bit lower this time
There are NO incentives at this time.
They want to sweep the floor of MY09 cars.
The car that you could swing the best deal on IMO would be the C4S launch car, there are alot of them around the country. Reason, they are equipped with the Sport Bucket Seat option. 80 or so are around.
MY09 Inventory levels are something like this:
Coupes:
Thank you posting the data. When are the 2010's landing?
When Cab season is over at the end of July..should be some deals on the 09's C4S Cabs and the 08 Turbo Cabs..
Thank you posting the data. When are the 2010's landing?
When Cab season is over at the end of July..should be some deals on the 09's C4S Cabs and the 08 Turbo Cabs..
My10s are landing in a couple weeks. Inventories are showing up dealer databases already.
__________________
kev <divinum est sedare dolorem>
BMW Interlagos Blue E92 M3
Coming Soon: Porsche Carrera 4S
I believe PCNA June sales are down 66% YTD, truly awful news for Porsche.
BMW and Mercedes Benz reported declines of 20% and 22%, respectively.
I've heard from a few colleagues that it is almost impossible to lease a P-car; they have been declined by Porsche Financial and these are guys in their mid-30s with stellar credit history. One of my closest friends who has dozens of cars from MB, BMW and Jaguar was declined a few days ago actually. He leased an SL63 the next morning. Another loss for Porsche.
From Trundle997's post, it appears that there are over 1,600 P-cars sitting and collecting dust at lots --- for Porsche to deny people leases/finance deals is suicide in today's market.
I've been following Porsche in the Financial Tims and WSJ and their situation is certainly dire. Only the country of Qatar can save Porsche from becoming the next GM with a few billion dollar infusion.
I believe PCNA June sales are down 66% YTD, truly awful news for Porsche.
BMW and Mercedes Benz reported declines of 20% and 22%, respectively.
I've heard from a few colleagues that it is almost impossible to lease a P-car; they have been declined by Porsche Financial and these are guys in their mid-30s with stellar credit history. One of my closest friends who has dozens of cars from MB, BMW and Jaguar was declined a few days ago actually. He leased an SL63 the next morning. Another loss for Porsche.
From Trundle997's post, it appears that there are over 1,600 P-cars sitting and collecting dust at lots --- for Porsche to deny people leases/finance deals is suicide in today's market.
I've been following Porsche in the Financial Tims and WSJ and their situation is certainly dire. Only the country of Qatar can save Porsche from becoming the next GM with a few billion dollar infusion.
Actually the SL Mercedes lease is a bigger loss for your friend because his lease terms are so rigid and MB is so inflexible that by the time he's done he might just feel that he was financially crucified . If he's in his early 30's it's tender age to learn a tough lesson but education is expensive .
In my opinion Porsche leasing has never been strong . It's only in recent times that Porsche is testing the waters dabbling in this BMW type of attention deficit consumer lease program . No wonder they are nervous .
Just as Porsche is a traditional car most of its buyers want to make a commitment to the car beyond the typical three year pump and dump of a lease . That commitment usually means buying the car . CPO programs are up and they are on the rise . That's where Porsche has strength and if they see it they will advance the program even further.
Speaking for myself -I have never leased a Porsche . I want to own the car . I want to capture my small piece of automotive history and have my name on the title .
If that means that not everyone can have the car in a flea market lease transaction then it is my opinion that those who do attain them can even cherish more what they have.
I believe PCNA June sales are down 66% YTD, truly awful news for Porsche.
BMW and Mercedes Benz reported declines of 20% and 22%, respectively.
I've heard from a few colleagues that it is almost impossible to lease a P-car; they have been declined by Porsche Financial and these are guys in their mid-30s with stellar credit history. One of my closest friends who has dozens of cars from MB, BMW and Jaguar was declined a few days ago actually. He leased an SL63 the next morning. Another loss for Porsche.
From Trundle997's post, it appears that there are over 1,600 P-cars sitting and collecting dust at lots --- for Porsche to deny people leases/finance deals is suicide in today's market.
I've been following Porsche in the Financial Tims and WSJ and their situation is certainly dire. Only the country of Qatar can save Porsche from becoming the next GM with a few billion dollar infusion.
Wow I almost bought an 09 SL63 about a week or so ago because of a $40k discount and a good purchase plan1.9% apr...but there were no good lease programs that I found...what did your friend find for a lease?
the thing is us bank offers the same money factor for years if not lower..
why would that make it better? it's really just the market..
500: that deal on the SL63 is unreal.. hmmmm
Indeed, in addition to geneous dealer discounts there is bountiful trunk money and that's why I almost went for it, but the exhaust at low rpm driving was very flat sounding and too loud with the top down...the exhaust sounds wonderful at higher rpms however (I traded a 06 E55 for the 07 C2S so I'm not a stranger to AMG). The deal may or may not have ended 6/31.
Porsche Financial had an awesome rate available on '09 Turbo's 1.9% for up to 60 months. Never seen anything like that on a Turbo before. I think that offer was for a limited time though and has since expired.
__________________ Shawminator '09 Turbo Cab Cargrahic Exhaust HRE P40's
Actually the SL Mercedes lease is a bigger loss for your friend because his lease terms are so rigid and MB is so inflexible that by the time he's done he might just feel that he was financially crucified . If he's in his early 30's it's tender age to learn a tough lesson but education is expensive .
In my opinion Porsche leasing has never been strong . It's only in recent times that Porsche is testing the waters dabbling in this BMW type of attention deficit consumer lease program . No wonder they are nervous .
Just as Porsche is a traditional car most of its buyers want to make a commitment to the car beyond the typical three year pump and dump of a lease . That commitment usually means buying the car . CPO programs are up and they are on the rise . That's where Porsche has strength and if they see it they will advance the program even further.
Speaking for myself -I have never leased a Porsche . I want to own the car . I want to capture my small piece of automotive history and have my name on the title .
If that means that not everyone can have the car in a flea market lease transaction then it is my opinion that those who do attain them can even cherish more what they have.
I don't agree with you on him being "financially crucified" by MB; he received over $30k off sticker and his lease terms are fantastic for someone who wants to drive a brand new car for 2-3 years and dump it afterwards.
I also am not sure if "most of its [Porsche's] buyers want to make a commitment to the car beyond the typical three year pump and dump..."
I'd say MOST people want to drive a brand new car for a few years and then get another one. Unless you're driving something rare and exotic such as a CGT or GT2, what's the point of keeping it for 6 years?
It's also evident in the classifieds and on the web; a lot of Porsche owners are getting rid of their '07 and '08 cars already because they want "the latest and the greatest." There's nothing wrong with that, rather, that's good commerce, the more vehicles that can be moved, the better it is for the auto manufactures.
To each his own, but I never understood people who finance vehicles for 72 months... All of the GM, Chrysler, Ford promotions at the moment -- finance a vehicle for 0% for 72 months -- Really? Who in their right mind would want to pay off a PT Cruiser that will be worth $1,500 at the end of the 72 month terms. Not to mention the 6 years of monthly payments... It just doesn't make sense to me.
I don't think Porsche will ever "open up" their lease programs like BMW and MB because their vehicles are generally more expensive but at the same time they need to face reality and understand that they might just bite the dust like one of the greatest automobile manufacturers in the world did: GM.
It's just really simple economics; you are a car company and you sell/lease/finance cars. If you don't do that and your inventory keeps piling up, you'll go bankrupt. No matter how much profit you make per vehicle.
Not everyone can afford a Porsche, but those that can should have the red carpet rolled out for them.
I feel that Porsche's current financial situation is entirely the fault of Wendelin Wiedeking, who I find to be a complete idiot, even though he might have "saved" Porsche in the past. From the VW situation to the current sellout to Qatar; Porsche is in major trouble and their "leader" is primarily responsible.
I sincerely hope that Porsche figures out it's mess but when you as a car company are not leasing/financing cars while your competitors are, you need to sit down and re-think your strategy. Otherwise, you're doomed and will become another arm of VW, where the Jetta and the Panamera will start sharing parts... And nobody wants that now, do we?
My 0.02 Cents.
Quote:
Originally Posted by 500
Wow I almost bought an 09 SL63 about a week or so ago because of a $40k discount and a good purchase plan1.9% apr...but there were no good lease programs that I found...what did your friend find for a lease?
I believe he received around $29-30k off sticker, $0 down, for a black/black SL63. It's an amazing car and sounds unreal.
When it comes to leasing Mercedes is great at handing over the car until that person wants out of that car . They are completely inflexible on any aspect of an early lease termination . In fact even if the person does a "one pay"(like I did) they will NOT refund any partial payment . In my case I even asked them what if the person dies (meaning myself) .. do you hold his estate to the contract ? YES they do !!!!!!
With MB if the payements are somewhere decent there will still be a HUGE disparity between the lease buyout and wholesale so he is stuck , in that car, in that service ,for that term even if he dies --UNLESS he wants to pay BIG MONEY . Hence the term "financial crucifiction" .
In contrast BTW --BMW os leaps and bounds above MB with being flexible and they suck too !!!
The SL63 does have huge discounts and so do the former Sl cars . In fact the former model has sold better than the new one . You think dealerships are giving away cars at 40K off MSRP because the car is terrific???
I don't.
Of course a new car every two years sounds wonderful but a cash deal buy with a private sale or even a trade in will beat the finance charge of a lease on any of these high end cars . Plus the lomger one keeps a car the less transactions for dealerships to profit . Even those who share the famous rant about being a business owner only take into account a three year per car timeline . Hold the Porsche for 6 years and then lets do a buy vs lease comparo.
Ultimately --it comes down to owning the car . If I saw your friends Mercedes before drive off I see 36 expensive payments to rent their car . If I see a Porsche owner write a 100K check for a car I see one hundred thousand dollars of equity . Big difference .
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