I keep adding mods to my 02 C4 Cab, but it's unfortunately leased, and I'm reminded of that whenever I buy something new for the car. I'm dying to add the SC to the car, but that wouldn't make much sense, unless I bought out the car at lease end.

Problem is, I think my residual is pretty high, considering the lease will end at the end of 2006 (during the 997's third production year).

I want to know that if I want to negotiate a lower residual with US Bank towards the end of my lease term, they'll entertain that offer. If the FMV of the car is $35K in 2006, but my res is $40-45K, am I SOL?

FYI - I have several offers from people who want to take over my lease. Thoughts on whether I should get out of this lease and try to find a another '02 Cab ? My hesitation is that I baby this car and with another used vehicle, you never know ... .

I'd appreciate your thoughts.

 

Bobby:

I have the same problem with my. I just keep adding parts that will come out easier at the end of the lease and I'll just sell them on ebay.

High residuals are desirable if you're not planning on keeping the car(lower payments).
If you're planning on keeping the car, you can call them to find out if you can just buy the car from them now and change the lease to a loan. But be prepared to take a loss(paying more then fmv). But if you're going to take a loss on the car just to add a supercharger, why don't you just get out of the lease,and get a turbo cab.

Peter

 

Yeah, If you have some people to take over your lease, Then why not get the turbo?

 

Good questions. Turbo Cab is out of my car budget. I live in Los Angeles, so the cab is a must. I made the decision to go with the cab vs. turbo coupe a year ago.

 

Do whatever makes you happy. There isn't another cab as nice in your price range outthere, so mod away and enjoy.

 

While I have resisted doing any mods on my car, I don't know how much longer I can hold out.

With the depreciation hit cars have taken nowadays, I think you're going to be in an ugly situation when your lease term ends. Leaving you with a higher residual than market value for your car at the time. Though I've heard you can negotiate on the residual price, I still don't think you'd make out too well.

If I had to do it all over again, and as much as I like having a brand new car, I would have bought an '02 used for much less and not had to hassle with leasing for purposes of modding and owning beyond the term of the lease. May sound like a dumb idea, but I think you'll be surprised at current resale rates for late model 996's. Good luck either way.

 

You do not want to buy out a lease. You take a huge hit and end up paying a lot more for the car in the long run. I would either keep the lease and not add any permanent mods, or turn the lease over the one of these people and get another car that you enjoy.

 

I say Mod away! Life is too short to worry about these things.

 

Same situation here. I am leasing a 03ttx50. I thought I would return the car to get the 997 tt when the lease is up in 06. Later on I just can't help modding it and nobody knows for sure when is the 997 tt available. Bottom line, if modding the car makes you happy and you can afford it then do it. You already put so much money in the car you should enjoy it now instead of worrying what to do when the lease is over.
Lawrence

 

Don't know how leases from Porsche work, but with a Mercedes lease even the dealer would have to pay the residual if he wants to re-sell them. What some of the dealers do is follow the car into the auctions and buy it back much cheaper. Just something you might consider.

 

a porsche is not an investment. it is a money pit, you MUST stay loyal... the porsche aftermarket needs you...just kidding. i doubt the FMV will be 35k in late 06. if your residual is 40-45k, that isn't too bad (assuming that you got a good rate.)i would have suggested letting someone take over your lease, but after paying taxes on a used one and or trusting the previous owner of the used one you would not be any better off. just stick with it do all your mods and pray that the 997 looks like ****. btw i think porsche would be more apt to negotiate the resid. if the demand for the 997 is great.