Kinda slow on the Cayenne board today, so I thought I'd post here too:

2004 Cayenne Turbo
23K Miles
MSRP ~$94,500
Listed @ Carlsen Porsche in Redwood City

Selling Price: $74K*
Cap Reduction: $0
Term: 48 months
Lease Factor: .0024 (porsche financial)
Residual: $36,098
Drive Off: $1701
Payment: $1068 + Tax

*Can be certified for $1500 additional

Sounds pretty decent, but I was thinking of having him throw in the certification and including tax for the same payment. Maybe that's asking too much.

Thoughts?

 

are you dealing with Gary there?

 

How much is the tax? If the car goes out of warranty during the lease I would have them throw in some extra time to cover the term of the lease unless certification will do that for you.

 

yeah, that sounds like a good deal.

for me, 48 months is like a jail sentence.

but the deal sounds pretty fair. especially because you aren't putting much money down.

 

No, it's not a good deal.

The money factor is too high, you can do better.

A good rule of thumb on a lease payment is 1% of tthe purchase price. (IMO)

 

Leasecompare.com have a lower money factor on that truck than .0024, a higher residual, and lower price/overage mile than Porsche Financial.

 

wow, where do you get these ideas from??? .0024 happens to be the buy-rate from chase for FICO scores of 740+, so i would have to say that it is a pretty low money factor.

you also state "A good rule of thumb on a lease payment is 1% of tthe purchase price." (IMO)


you are pretty far off on this one too....have you ever leased before? not flaming, but it may be a good idea not to give advice if you do not have any personal experience with the subject at hand.......

 

I agree I said it was a good deal in another thread he posted regarding this subject

 

i say it is a good deal, soley based on other leases i have had in the past.

again, to me, it's a sweet deal.

 

gt2next is correct - .0024 is the buy-rate for top-notch credit.

US Bank offers a lease rate of .0019 or something like that, but according to Gary, they no longer lease Turbos. I'm not sure if this is just BS, but Gary seems to be an straightforward guy.

BTW - the whole "1% as a rule of thumb" makes no sense. That would be a $1000 payment on a $100K car. Pretty much the only way to get that payment would be to put a boatload of money down on the car.

Bailey - certification extends the warranty by 2 years and up to 100K total miles.

 

I think its a great deal. If you can't get them to throw in certification I think $1500 for 2 years is a good deal unless you plan to really mod it.