991 24-Month Lease Special?
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Joined: Jul 2013
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I purchased, but w/leasing you only pay the sales tax monthly (if your state has tax). In my case the sales tax was 9.8%....a sizable chunk here in WA State. If the car depreciates 20%, I lose 20% of that tax number too. We only pay sales tax on the difference in trade in value. In other words if your trade is worth $90K and the new vehicle nets out at $130, you pay sales tax on $40K. Outright - no trade - full tax on the purchase price. W/leasing there's always a bank fee isn't there...like around $800? That would be ugly. I think the interest rate from Porsche is 4.8%...double for what you could get anywhere else.
Then the interest rate on CPO is 1.9%.
I can title the car in Montana and pay no sales tax.
So you're paying a lot less interest, no sales tax, and incurring less depreciation. This would be much more cost effective.
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Joined: Mar 2013
Posts: 56
From: New York
Rep Power: 16
Hey Everyone,
I found a 13 cab with that I really liked. The MSRP was 114,080 and the selling price was 96,900. The dealer quoted me $1,440 monthly with tax (8.8875%) in the payment for 24 months, 5k miles a year, 68% residual. When I plug in the numbers (assuming .002 MF) into bankrate.com lease calculator, I get a $1,255 payment. When I went back to the dealer to ask why the difference, I was told that the car was sold. Anyway, for future dealing, the depreciation is calculated off MSRP? Off 114 MSRP the residual would be 77,574 (114,080*68%) and the depreciation is sale price - residual = 19,326 (96,900 - 77,575). If this is correct, the 1255 payment should be correct because the depreciation per month is about 800 (19,326/24month) Anyway, wanted to make sure I'm calculating lease correctly when I find something else. Thanks for the help in advance.
I found a 13 cab with that I really liked. The MSRP was 114,080 and the selling price was 96,900. The dealer quoted me $1,440 monthly with tax (8.8875%) in the payment for 24 months, 5k miles a year, 68% residual. When I plug in the numbers (assuming .002 MF) into bankrate.com lease calculator, I get a $1,255 payment. When I went back to the dealer to ask why the difference, I was told that the car was sold. Anyway, for future dealing, the depreciation is calculated off MSRP? Off 114 MSRP the residual would be 77,574 (114,080*68%) and the depreciation is sale price - residual = 19,326 (96,900 - 77,575). If this is correct, the 1255 payment should be correct because the depreciation per month is about 800 (19,326/24month) Anyway, wanted to make sure I'm calculating lease correctly when I find something else. Thanks for the help in advance.
Registered User
Joined: Mar 2013
Posts: 56
From: New York
Rep Power: 16
Registered User
Joined: Jul 2013
Posts: 414
Rep Power: 52
Hey Everyone,
I found a 13 cab with that I really liked. The MSRP was 114,080 and the selling price was 96,900. The dealer quoted me $1,440 monthly with tax (8.8875%) in the payment for 24 months, 5k miles a year, 68% residual. When I plug in the numbers (assuming .002 MF) into bankrate.com lease calculator, I get a $1,255 payment. When I went back to the dealer to ask why the difference, I was told that the car was sold. Anyway, for future dealing, the depreciation is calculated off MSRP? Off 114 MSRP the residual would be 77,574 (114,080*68%) and the depreciation is sale price - residual = 19,326 (96,900 - 77,575). If this is correct, the 1255 payment should be correct because the depreciation per month is about 800 (19,326/24month) Anyway, wanted to make sure I'm calculating lease correctly when I find something else. Thanks for the help in advance.
I found a 13 cab with that I really liked. The MSRP was 114,080 and the selling price was 96,900. The dealer quoted me $1,440 monthly with tax (8.8875%) in the payment for 24 months, 5k miles a year, 68% residual. When I plug in the numbers (assuming .002 MF) into bankrate.com lease calculator, I get a $1,255 payment. When I went back to the dealer to ask why the difference, I was told that the car was sold. Anyway, for future dealing, the depreciation is calculated off MSRP? Off 114 MSRP the residual would be 77,574 (114,080*68%) and the depreciation is sale price - residual = 19,326 (96,900 - 77,575). If this is correct, the 1255 payment should be correct because the depreciation per month is about 800 (19,326/24month) Anyway, wanted to make sure I'm calculating lease correctly when I find something else. Thanks for the help in advance.
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Joined: Jul 2013
Posts: 414
Rep Power: 52
Yeah the difference can only be explained by either marking up the interest rate to make more profit, or if your credit score is lower than you think.
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Joined: Jul 2013
Posts: 52
From: Atlanta
Rep Power: 15
They will try, even when you know your numbers. At the end of the day everything needs to be broken out on the contract. They must do it because people get tired and just sign.
Are taxes done on the lease payment in NY? In GA, they changed the law in '13 so we have to pay sales tax on the full purchase price.
Are taxes done on the lease payment in NY? In GA, they changed the law in '13 so we have to pay sales tax on the full purchase price.
Last edited by Lllwlf; Jan 8, 2014 at 09:43 PM.
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Joined: Sep 2008
Posts: 532
From: CA
Rep Power: 50
I wouldn't call it ripping you off, but he was trying to make a pretty large profit on you 
It's all fair if you don't know how to calculate a lease.
But you do, so you aren't going to get screwed. The key thing is that the dealer probably added the max markup to the money factor, plug in 0.00240 or 0.00250 into your calculations (and don't forget tax, depending on where you live). That can be negotiated out.
It's all fair if you don't know how to calculate a lease. But you do, so you aren't going to get screwed. The key thing is that the dealer probably added the max markup to the money factor, plug in 0.00240 or 0.00250 into your calculations (and don't forget tax, depending on where you live). That can be negotiated out.
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Joined: Jul 2013
Posts: 52
From: Atlanta
Rep Power: 15
P
I think the conquest program is on hold right now. If anyone knows different, let me know.
they've been willing to go %08 off MSRP on dealer inventory without much trouble, but only 3-4 on orders.
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Joined: Nov 2004
Posts: 856
From: THE Orange County
Rep Power: 109
Yes you are correct- no more Conquest (or hold).
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Joined: Mar 2013
Posts: 56
From: New York
Rep Power: 16
Hey Guys,
Finally made the deal today at Paul Miller in NJ. I was about to give up, but thought I would give it one last try. Sent an email to Nancy and had the deal done in 10 mins. I was sworn to secrecy regarding the terms, but my payment is lower then I expected with no money out of pocket besides 1st month.
I can't wait to pick it up. Finally back into a Porsche. I had a 997.1 cab but sold it and used the proceeds to develop a new site. I thought was ok not having one, but very quickly realized I was wrong.
Anyway, I though I would throw a plug for the sire, it's for Porsche enthusiasts to be able to get service coupons and quotes from dealers. AllAutoNeeds dotcom. If anyone has any coupons that they will not be using, please send them to me. gregikh@gmail.com and I'll post them for folks to use.
Check out my new ride.
http://www.paulmillerporsche.com/new...CA2A95ES140348
Finally made the deal today at Paul Miller in NJ. I was about to give up, but thought I would give it one last try. Sent an email to Nancy and had the deal done in 10 mins. I was sworn to secrecy regarding the terms, but my payment is lower then I expected with no money out of pocket besides 1st month.
I can't wait to pick it up. Finally back into a Porsche. I had a 997.1 cab but sold it and used the proceeds to develop a new site. I thought was ok not having one, but very quickly realized I was wrong.
Anyway, I though I would throw a plug for the sire, it's for Porsche enthusiasts to be able to get service coupons and quotes from dealers. AllAutoNeeds dotcom. If anyone has any coupons that they will not be using, please send them to me. gregikh@gmail.com and I'll post them for folks to use.
Check out my new ride.
http://www.paulmillerporsche.com/new...CA2A95ES140348
Registered User
Joined: Dec 2013
Posts: 353
From: Atlanta
Rep Power: 28
Hey Guys,
Finally made the deal today at Paul Miller in NJ. I was about to give up, but thought I would give it one last try. Sent an email to Nancy and had the deal done in 10 mins. I was sworn to secrecy regarding the terms, but my payment is lower then I expected with no money out of pocket besides 1st month.
I can't wait to pick it up. Finally back into a Porsche. I had a 997.1 cab but sold it and used the proceeds to develop a new site. I thought was ok not having one, but very quickly realized I was wrong.
Anyway, I though I would throw a plug for the sire, it's for Porsche enthusiasts to be able to get service coupons and quotes from dealers. AllAutoNeeds dotcom. If anyone has any coupons that they will not be using, please send them to me. gregikh@gmail.com and I'll post them for folks to use.
Check out my new ride.
http://www.paulmillerporsche.com/new...CA2A95ES140348
Finally made the deal today at Paul Miller in NJ. I was about to give up, but thought I would give it one last try. Sent an email to Nancy and had the deal done in 10 mins. I was sworn to secrecy regarding the terms, but my payment is lower then I expected with no money out of pocket besides 1st month.
I can't wait to pick it up. Finally back into a Porsche. I had a 997.1 cab but sold it and used the proceeds to develop a new site. I thought was ok not having one, but very quickly realized I was wrong.
Anyway, I though I would throw a plug for the sire, it's for Porsche enthusiasts to be able to get service coupons and quotes from dealers. AllAutoNeeds dotcom. If anyone has any coupons that they will not be using, please send them to me. gregikh@gmail.com and I'll post them for folks to use.
Check out my new ride.
http://www.paulmillerporsche.com/new...CA2A95ES140348