As I begin to make plans for acquiring a 991, I thought I would ask about people’s experiences leasing cars from Porsche. For a car that is more of an indulgence than a necessity, where there is also a strong temptation to trade in or upgrade every 2-3 years, leasing seems like a great way to enjoy the Porsche experience. If I can avoid the temptation to modify and perhaps keep it off the track, maybe leasing would be a good way to go. On the other hand, I have leased many cars over the years, and I got a recent advertisement for a 991 lease form a local dealer with terms so bad as to be almost insulting. Granted, I have never leased a car that had a sticker price in excess of 100k, so maybe I just need to adjust my expectations.
Any feedback is appreciated.
Thanks

 

I looked at leasing a new CTS V, I couldn't agree to the terms. It was 20% down(or 20k bucks can't remember), 1.9% interest rate still put it at $1541.00 a month. The only lease option was for 36 months. The 991 would probably be over 2k a month, am I close?

 

The ad I saw had payments around $1000/mo, but 10K due up front and a mileage limit so restrictive it would force the car to be a garage queen. I understand everything is negotiable but this didn’t seem like a good starting point.

 

I got a lease quote from my local dealer for a 991 they have in stock. The MSRP was $114k. 36month, 10,000 miles, $2,000 down -- $1790/month.

 

Wow, this is where cash is king. That's over $66k in payments. I can't imagine the car depreciating to below $50k in three years - especially if it has 30k miles.

Don't even do the math on a loan unless you're willing to ride out the entire term. Car loans and mortgages are real rip-offs unless you go the distance.

 

I believe this is the link I was looking at when I was trying to figure lease options.

http://www.leasecompare.com/quick_le...=&QuickQuote=1

 

just make sure you run it through this:

http://www.carbuyingtips.com/download.htm

it will make your decision easier...

 

Porsche leasing is good to deal with, and they will not kill you on the residual, which can be a big part of the payment.
I am on my second car with them and would go again.

For those who are inclined, look at a prepaid lease. It amounts to paying cash for the part of a car's life that you will actually use.

 

I used this website as well, but when I actually went into the dealership, the monthly payment was around $400 cheaper than what the website gave me. I don't think its correct for every car.

 

Should try to pay the mortgage off early to make it easier to swallow. Anyone who recommends investing in the equity market has likely been burned this decade.

 

If you are going to lease, make sure you go in with your eyes wide open.

Lease payments are derived using (unnecessarily) over complex formulae that are by design tricky for the average joe to understand. However, it is just math with a number of variables that determine what the payments should be.

Most of the information you need to understand this is on
http://www.leaseguide.com

and there's a pretty good calculator on there too.

Once you understand what is explained there you can see why, say, the leasecompare.com quote mentioned above may have been more expensive than what the dealer offered. Leasecompare was probably using different Residual and/or Money Factors for the calculation. (3rd party lease vs. Manufacturer's finance company's lease).

To understand the lease the dealer is offering, you'll need to get some of that information (residual, money factor, fees.) I usually get this information, calculate the payment and compare the payments to what the dealer has offered. If it is different, the dealer can point out why. This may seem like a pain in neck, but it keeps everyone honest. It is amazing how often a 'mistake' is found if you do this.

Leasing can make a lot of sense, but it all depends on your situation and what kind of numbers you are being offered. If you asked me a year ago I would have said that Porsches aren't a good car to lease as the numbers just aren't that attractive. With the 991 I am not so sure. With the reports of less than 100% demand from many parts of the country, the guaranteed residual of a lease is starting to sound like a nice option.

 

I leased my 997.2 because it was my first porsche and I wanted to keep my options open. I track it. Some friends thought that would violate the lease but it doesn't. I think if you put ultra low miles - under 5k a year - then the depreciation is less than the total of lease payments (not a good deal). But if you do 10k+ I think its a great way to go. Two things I look to avoid personally as a car nut 1) having to show your car for sale to people who don't value the care you've given it and 2) getting sodomized on a trade in by the dealers (they're just doing their job, but with 911s in particular they simply murder you on a trade). With leasing you avoid both of those pitfalls and still have the option to buy the car. Makes a lot of sense.

Good luck

DRP