Advice on 911 lease terms in Silicon Valley California
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Appreciate any input or advice. I'm looking to lease a new 911 Targa 4S, and am based in Silicon Valley, CA (Menlo Park to be exact). The approximate MSRP is $160,000. I've reached out to one local dealer and am in the process of getting quotes from a few others (Burlingame, Redwood City, Stevens Creek).
Given how crazy the new car market is, the first dealer has quoted MSRP (to be expected), residual of 58% (I believe this is non-negotiable) and a whopping 0.0030 money factor (equivalent to a 7.2% interest rate). The money factor / interest rate seems crazy to me, given that interest rates generally are so low these days. Appreciate any input on what terms I should look for, what is market, etc. Note that I have excellent credit and the dealer didn't pull my credit report, so the quoted money factor is not specific to me.
For a bit of history (and happy to answer any questions), I recently sold my MY 2013 911S (manual) back to a dealer, and am now doing the Porsche Drive subscription program with the Accelerate tier. After doing the Accelerate tier for the last 4 or so months and trying out a variety of cars, I'm finding i'm most happy with the 911 and am hungry for a new one!
Given how crazy the new car market is, the first dealer has quoted MSRP (to be expected), residual of 58% (I believe this is non-negotiable) and a whopping 0.0030 money factor (equivalent to a 7.2% interest rate). The money factor / interest rate seems crazy to me, given that interest rates generally are so low these days. Appreciate any input on what terms I should look for, what is market, etc. Note that I have excellent credit and the dealer didn't pull my credit report, so the quoted money factor is not specific to me.
For a bit of history (and happy to answer any questions), I recently sold my MY 2013 911S (manual) back to a dealer, and am now doing the Porsche Drive subscription program with the Accelerate tier. After doing the Accelerate tier for the last 4 or so months and trying out a variety of cars, I'm finding i'm most happy with the 911 and am hungry for a new one!