991 3.4 lease rates
 

Hi everyone. In a previous post someone mentioned that Porsche has special leasing rates on the base 991.

Are these in the form of factory rebates or more aggressive residual and interest rate offers? Does anyone know the current residuals and money factor (or interest rate) being offered?

Let me expand that question:
Does anyone know the residual value of a base 991 compared to a Cayman S?

ChuckJ

Lease Deals
 

In the US PFS has a number of programs that I am aware of, however, several of these may expire at the end of the month.

I am picking up my C2 tomorrow, so I have been hashing through this in great detail.

Money Factor - current rate (for tier 1 credit) is .002000 ** note, dealers often try to mark this up. It took me 3 days of back and forth to get the dealer to agree to this rate.

Residuals - all depends on length of lease and miles. I went for a 27 mos. @ 5K per year, so this = a 78% residual. If you need more miles I know the residual on 10K per year for 24 months is also 78%. NOTE - PDK will be 1% lower, and the S models, cabs, and C4s will be much lower.

Special programs - if you currently lease a porsche they have a "pull ahead" program that can get you out of between 3-12 months of remaining lease payments to porsche financial services.

They also have a "Conquest Cash" program. If you currently lease a competitor brand they will give you a rebate equal to 3 months of that lease payment, upto $1500 per month. For example, if you also lease a 6 series BMW @ 1,200 per month, you would get $3,600 rebate. Your other lease must have 3+ months remaining to get full value.

My understanding is that pull-ahead and conquest can't be used togteher.

I know there is a bunch of opinions on leasing, but for me, I was able to get about 9% off the car. So if you take a $100K MSRP car, that I negotiate to 91K and get a lease residual of 78K, I'm paying for 13K of deprication, plus interest at 4.8% (i.e. the interest equivalent of a .002 mf). I realize if I bought the car I would have saved on interest if I financed the purchase as the rate would have been about 2%-2.25%. Over the life of the lease this means I am paying $3500 in "extra interest" in the lease, as compared to a purchase w/ full financing. However, in exchange for that I have a nice option to buy. Thus, if the true market residual at the end of my lease is way down, I can just walk and PFS is stuck with the loss. I like the downside protection, so when coupled with the cash flow benefits, this was a good option for me.

Current program for the base C2 that ends saturday is just like farrbar said

24 months
5k miles a year 80%
7.5k miles a year 79%
10k miles a year 78%
12k miles a year 77%
Add 1% for PDK

Money factor is .00200 with tier 1 credit but most dealers i contacted started off higher.

You can get anywhere from 6-10% off the MSRP and your monthly payments will be easily below $1,000 a month with first month payment and fees due at signing.

Nice job negotiating farrbar. I was only able to get a measily 6% :(

Is this offer for 2013s or does it extend to new order 2014? Pretty aggressive residuals. What was the dealership trying to offer you for interest rate and how did you know about the 4.8%

My lease is uo Aug 1 and I have the option to extend month to month for up to 12 months (my payments are low as I put a decent down payment) or if the current offers are quite aggressive then I'll consider my options.

As far as I know Porsche Financial Services takes care of both US and Canadian leases/finance so these offers should extend to the Canadian market? Does anyone know ?

Great write-up, Farrbar!

Depreciation of only 22% after 27 months is stellar. Most cars lose at least this much in the first year alone.

To answer the O.P's question about the 4.8% interest, the way you arrive at the actual APR is by multiplying the money rate by 24.

These lease residuals make leasing a 911 very attractive, indeed!

Lease Deals
 

I think that currently these deals are available on 13 and 14 model years. However, I would expect that you might not be able to get as good of a discount from MSRP on a 2014.

Also, I would think (have no inside knowledge) that PFS is going to have to change the residuals on 2013s effective 7/1. Given that 2013 discounts are getting big, and the cars are effectively a model year old, they probably shoiuld not have the same residual % that they did late last fall.

Also, to clarify a point above, the residuals on PDK are 1% lower (i.e. 78% for manual trans, 77% for same car with PDK).

Yes the 24 month numbers are outstanding-- Im looking a C4S for 7500 miles so my residual is 73% but the stickers on the cars Im looking at are well over the MRM of 126530 so net cap negotiation is key.

I wont lease for 27 months, this would require paying California registration for 1 extra year but only using 3 months of it. Cali reg is not cheap like other states.

My dealer says the Porsche 2-year residual is 72%.

Hmm, that's strange. Aren't the residuals set by Porsche Financial Services? Why would it be any different than stated above? For what mileage/year was that quoted?

Depends on the term, model, transmission, mileage allowance...


A C2s with 7500 miles at 24 months is 74% and a C4s with the same miles and term is 73.... (both with pdk's)... add 1 back to each percentage if 7 speed manuals.

C2 (non S) 7 speeds have the highest residuals.

That residual was for a Boxster. I asked on behalf my son. Surprising that the Boxster's depreciation is greater than the 911's.

I believe the program is only on MY 2013 cars. As others have noted, the program ends at the end of this month and I don't believe any MY 2014 cars are in dealer stock yet (though I could be wrong). If the program is extended into July, then I suppose it's possible that it will be applicable to 2014 cars as well (but its also possible that PFS could also keep the program running only to clear the 2013 cars off the lot).

Different marketing strategy deployed as well--- It appears Porsche made too many 991's so the market is flooded (you should see how many cabs are out there right now in cali)


My plan and "hope" is to do the 24 month lease, get the 3 pmt credit "weclome to porsche" applied, and then expect a pull thru to occur with either 12 payments or 6 pmts left. This would make my effective lease circa 9 or 12 payments. You cant beat that on 130k car.

The only thing is I have to take delivery of a car on the ground and not get exactly what I want.

Are 2013s still available to factory order? (ie, if dealer has a car that can be re-specced if ordered for stock)