997 Turbo / GT2 2006–2012 Turbo discussion on the 997 model Porsche 911 Twin Turbo.
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Lease Assumption: 997TT

Old Sep 24, 2008 | 06:45 PM
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Lease Assumption: 997TT

I was thinking of putting my car up on lease trader, I love it in everyway but I think I want to get something more track oriented.

My car:

08 997TT
Carrera White / Black
Painted Interior Console (white)
Painted Seat Backs (white)
Painted Rear Apron and side sills
Painted Instrument Surround (white)
Red Seat Belts
Locked Rear Diff
Sport Chrono

Original term:
18,000 miles per year
36 months

When I put the car up it will have 21,000 on the clock. Obviously being a DD it has a few signs of wear with the mileage, front lip is scratched up (which is why I didnt paint it), and some small nicks on the rear bumper. It's good condition, but not pristine. Always hand washed, all regular maintenance.

When I put it up in October:
28 Months remaining
1,178 miles per month remaining

My lease price is $2250/mo roughly, and I put a bit down, does it make sense for me to ask for some of that deposit back, or is 2250/mo a high price?

Anyone put up a car recently is there demand for a lease given my terms?
 
Old Sep 24, 2008 | 07:59 PM
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You are going to have a really hard time of it. I leased mine 12k/yr with 2000 miles on the odometer with nothing down for $1700/month 48 month term. My car had more options and EVT 690R installed.

Good luck, but I would think you are going to have a tough time compared with cars on the dealer lot for your monthly payment without especially with the miles.

Otis
 
Old Sep 24, 2008 | 08:05 PM
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I wish you the best but honestly think you are kinda stuck . Why would someone assume your lease if for another 200 bucks a month or so gets a new car ?

Based on this board as well as one friend of mine who leased (I don't lease --I own my 997tt) I can think of two examples .

1) Paid off his car and sold it .
2) Was so far under mileage (pristine condition) that the dealership took his car back with minimal loss and placed him in a different car. (his complaint was that his car was excellent but he never had time to drive it and to pay the lease payments was silly ).

With yoir miles , the price of entry , time remaining -- I hope you get it --but it sounds unrealistic.
 
Old Sep 24, 2008 | 08:29 PM
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I didn't think Porsche financial would let someone else assume your lease... that is if you leased through Porsche
 
Old Sep 24, 2008 | 08:52 PM
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Here are the PCNA lease figures for credit score 740+:

assumptions:
money factor 0.00280
10K mile/yr
36 mo residual 57%
48 mo residual 51%
7.375% sales tax

payments on MSRP of $135K (no-down):
36 mo $2398
48 mo $2115
 
Old Sep 24, 2008 | 10:12 PM
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look, i wish you well, but the only way that i can see someone taking over your lease is if you subsidize them. your lease should allow 1500 miles a month-you have used so many miles that they are allowed a tad under 1200, so for the payment, they are missing over 300 miles per month. your mileage is way high for a one year old car-i bet it would cost you a bunch to terminate it early and sell it to a dealer, 15 grand or more, maybe 25 grand. i think your best bet would be to give someone 5 grand or so to assume your lease-i think working that way would be your best bet.
 
Old Sep 24, 2008 | 10:14 PM
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Well in the worst case scenario I'll be stuck with a turbo, can't complain too hard about that.

But at the very least you guys convinced me that I shouldnt be looking to get my deposit back so I'll see if there's any interest for it as is, if not, I'll just drive it 8/10ths and PSM on
 
Old Sep 24, 2008 | 10:18 PM
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Originally Posted by raiyu
Well in the worst case scenario I'll be stuck with a turbo, can't complain too hard about that.

But at the very least you guys convinced me that I shouldnt be looking to get my deposit back so I'll see if there's any interest for it as is, if not, I'll just drive it 8/10ths and PSM on
good point-worse case scenario, you have an all weather supercar-not bad
 
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