I spoke to my dealer today and he said the problem with Porsche is when a car comes to end of lease there is no negotiating period. The pay off price is what it is( Unless he is full ****). Anyways he said you can buy it at the payoff price, otherwise Porsche will take it back and the dealer I bought it from has first right of refusal and even the dealer buys it at the same pay off price. If the dealer decides to pass on the car, Porsche takes it to the auction. He said if you can pick it up from the auction (which they would do that for me), then its a good deal. But the odds of that happening are not good as my car is consider a very clean and it will sell quickly. He has given me some numbers if I wanted to buy out the lease. The payment is only a few hundred dollars less per month than my lease.

 

Ever play poker? You're in the game right now. Time to bluff. Your dealer is telling you that your car will sell quick at auction... yeah, true, but at wholesale. Then it's off to wherever or whoever IF someone buys it... and the market price changes daily. Been paying any attention to the stock market lately? Yeah..

How bad do you want it? I bet you can grab it and save AT LEAST $10k from the current dealership buyout price..... if it even sells to a wholesaler... you can track your car across the country and still save $$. Don't forget, this is a crap economy. Don't let some dealership tell you that your used Porsche Turbo is in high demand. That's a smoke screen.

If you're willing to take a little risk, you might make out big time. If it's not worth it to you, negotiate with them and purchase the car... but seriously, you have the upper hand. TRUST me, they would much rather sell the car to you than whole sell it. Use that to your advantage. If it's not worth the risk of someone possibly coming in and grabbing your car (imo not likely) then don't do it. However... it's just a car.. plenty out there... in a weak economy, used luxury items will never fetch top $.

.

 

Maybe this will help a little.

 

That's awesome. How many miles on your car? Obviously you know the condition....

 

10,500 miles.

 

Thanks for the feedback! Will keep you posted

 

What kind of markup on resale would you expect from a dealer buying at auction?

 

Unless you have to pay more for any mile-overages do NOT buy it. If you sell your 2007 TT, you will not get 79K but more likely $75K or LESS!

I just sold my 2007 TT 2 weeks ago to get my 458 Italia and I only got $75K. Mine was fully loaded and MSRP was $146K. Mileage was 12,650 ONLY. Ceramic brakes, not a single scratch or ding. Front clear bra the whole time so not even a bug mark on the front end. Absolutely almost-brand-new condition and I only got $75K. I asked several other dealers and nobody offered me more than that so just traded-in to that Ferrari dealer.

If I were you, I would buy a 2010 Turbo or 2011 Turbo S. If you need some connections, I can refer you to a very good dealer that can give you good discounts. You will love the PDK...

I myself ordered a 2011 Turbo S for my daily driver since I can't drive 458 on a daily basis. I got a terrific deal!

 

off topic question but whats the difference in a 6G engine and a 6GT engine?

 

regardless u buy it or not the money is already pissed away the moment u decided to lease. leasing is not a bad option, just if u knew u would buy the car at the end then lease is not the good option.

 

Has anyone on here bought a car through a typical 5 year finance? Have you added up what you would pay for that car over a 5 year period with the financing/interest included? The interest paid is considerable. Personally, I think if you are going to buy a car, the best way is to lease it first. The monthly payments are less, and during the 3 year lease you can save up the money for the residual. At the end of the lease, you can put down what you saved and finance the rest...or pay the whole thing off, if you're able. This way, you save a ton of interest payments. I can't figure out why people don't go this route more often, as to me it makes the most sense over high payments and high interest. However, it only works if you use the 3 years to save up the cash. It's the next best thing to paying cash for a car and not paying any interest. IMO.

J

 

You are right. I think the main reason people don't lease the Porsches is because lease residuals are too low and the payment is not good compared to when you just buy the car outright or finance it. So, many people choose to finance rather than lease. I used to think the same way so lost a LOT of money since I change cars every 6 to 12 months and do that about 3 times a year. But I chose to lease any cars unless there is a crazy deal like 72 months zero interest financing as I did with the new Escalade last month. Leasing not only saves you on interests but it also saves you on sales taxes, too. Financing makes you pay the sales tax upfront where as leasing only makes you pay the tax for only period that you actually own the car.

Plus, leasing makes you possible to write off taxes if you qualify. Moreover, you have an option to buy the car later if you really get to like it or dump(?) it when you don't like the car at the end of lease. Plus, when you get into an accident, if it is YOUR car, then you just lost 5~25% (depending on the severity of the accident) of the car's worth since car with any kind of accidents would lower the value but leasing is very simple. Just fix the car professionally and you don't owe anything extra when you return the car.

Anyway, leasing is a much better option IMO as well.