Porsche Finance Programs are back!!!!
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Joined: Jun 2009
Posts: 66
From: SoCal
Rep Power: 19
Sales have been BAD
Lease buy rate is now .00146
The buy rate IS a bit lower this time
There are NO incentives at this time.
They want to sweep the floor of MY09 cars.
The car that you could swing the best deal on IMO would be the C4S launch car, there are alot of them around the country. Reason, they are equipped with the Sport Bucket Seat option. 80 or so are around.
MY09 Inventory levels are something like this:
Coupes:
C2: 373
C2S: 487
C4: 22
C4S: 314
T4: 24
T4S: 53
TT: 63
Cabriolets:
C2: 363
C2S: 320
C4: 20
C4S 340
TT: 153
Help PCNA
Go buy a car!!!
Lease buy rate is now .00146
The buy rate IS a bit lower this time
There are NO incentives at this time.
They want to sweep the floor of MY09 cars.
The car that you could swing the best deal on IMO would be the C4S launch car, there are alot of them around the country. Reason, they are equipped with the Sport Bucket Seat option. 80 or so are around.
MY09 Inventory levels are something like this:
Coupes:
C2: 373
C2S: 487
C4: 22
C4S: 314
T4: 24
T4S: 53
TT: 63
Cabriolets:
C2: 363
C2S: 320
C4: 20
C4S 340
TT: 153
Help PCNA
Go buy a car!!!
I'm curious, are you a dealer or work for PCNA?
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Joined: Aug 2006
Posts: 868
From: earth
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I don't agree with you on him being "financially crucified" by MB; he received over $30k off sticker and his lease terms are fantastic for someone who wants to drive a brand new car for 2-3 years and dump it afterwards.
I also am not sure if "most of its [Porsche's] buyers want to make a commitment to the car beyond the typical three year pump and dump..."
I'd say MOST people want to drive a brand new car for a few years and then get another one. Unless you're driving something rare and exotic such as a CGT or GT2, what's the point of keeping it for 6 years?
It's also evident in the classifieds and on the web; a lot of Porsche owners are getting rid of their '07 and '08 cars already because they want "the latest and the greatest." There's nothing wrong with that, rather, that's good commerce, the more vehicles that can be moved, the better it is for the auto manufactures.
To each his own, but I never understood people who finance vehicles for 72 months... All of the GM, Chrysler, Ford promotions at the moment -- finance a vehicle for 0% for 72 months -- Really? Who in their right mind would want to pay off a PT Cruiser that will be worth $1,500 at the end of the 72 month terms. Not to mention the 6 years of monthly payments... It just doesn't make sense to me.
I don't think Porsche will ever "open up" their lease programs like BMW and MB because their vehicles are generally more expensive but at the same time they need to face reality and understand that they might just bite the dust like one of the greatest automobile manufacturers in the world did: GM.
It's just really simple economics; you are a car company and you sell/lease/finance cars. If you don't do that and your inventory keeps piling up, you'll go bankrupt. No matter how much profit you make per vehicle.
Not everyone can afford a Porsche, but those that can should have the red carpet rolled out for them.
I feel that Porsche's current financial situation is entirely the fault of Wendelin Wiedeking, who I find to be a complete idiot, even though he might have "saved" Porsche in the past. From the VW situation to the current sellout to Qatar; Porsche is in major trouble and their "leader" is primarily responsible.
I sincerely hope that Porsche figures out it's mess but when you as a car company are not leasing/financing cars while your competitors are, you need to sit down and re-think your strategy. Otherwise, you're doomed and will become another arm of VW, where the Jetta and the Panamera will start sharing parts... And nobody wants that now, do we?
My 0.02 Cents.
I believe he received around $29-30k off sticker, $0 down, for a black/black SL63. It's an amazing car and sounds unreal.
I also am not sure if "most of its [Porsche's] buyers want to make a commitment to the car beyond the typical three year pump and dump..."
I'd say MOST people want to drive a brand new car for a few years and then get another one. Unless you're driving something rare and exotic such as a CGT or GT2, what's the point of keeping it for 6 years?
It's also evident in the classifieds and on the web; a lot of Porsche owners are getting rid of their '07 and '08 cars already because they want "the latest and the greatest." There's nothing wrong with that, rather, that's good commerce, the more vehicles that can be moved, the better it is for the auto manufactures.
To each his own, but I never understood people who finance vehicles for 72 months... All of the GM, Chrysler, Ford promotions at the moment -- finance a vehicle for 0% for 72 months -- Really? Who in their right mind would want to pay off a PT Cruiser that will be worth $1,500 at the end of the 72 month terms. Not to mention the 6 years of monthly payments... It just doesn't make sense to me.
I don't think Porsche will ever "open up" their lease programs like BMW and MB because their vehicles are generally more expensive but at the same time they need to face reality and understand that they might just bite the dust like one of the greatest automobile manufacturers in the world did: GM.
It's just really simple economics; you are a car company and you sell/lease/finance cars. If you don't do that and your inventory keeps piling up, you'll go bankrupt. No matter how much profit you make per vehicle.
Not everyone can afford a Porsche, but those that can should have the red carpet rolled out for them.
I feel that Porsche's current financial situation is entirely the fault of Wendelin Wiedeking, who I find to be a complete idiot, even though he might have "saved" Porsche in the past. From the VW situation to the current sellout to Qatar; Porsche is in major trouble and their "leader" is primarily responsible.
I sincerely hope that Porsche figures out it's mess but when you as a car company are not leasing/financing cars while your competitors are, you need to sit down and re-think your strategy. Otherwise, you're doomed and will become another arm of VW, where the Jetta and the Panamera will start sharing parts... And nobody wants that now, do we?
My 0.02 Cents.
I believe he received around $29-30k off sticker, $0 down, for a black/black SL63. It's an amazing car and sounds unreal.
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Joined: Jun 2009
Posts: 66
From: SoCal
Rep Power: 19
I'll ask him this week but I believe his lease was for 36 months, 12k / year, and $1,700 per month (I believe this is all-in (tax incl.)
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From: South Florida
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It looks like this dealership is posting their numbers -https://www.swapalease.com/VehicleSe...hicleID=448686
At first I thought it was a swap lease .
BTW --MB holds the original lease buyer accountable even in a swap.
At first I thought it was a swap lease .
BTW --MB holds the original lease buyer accountable even in a swap.
Last edited by yrralis1; Jul 5, 2009 at 09:22 PM.
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It looks like this dealership is posting their numbers -https://www.swapalease.com/VehicleSe...hicleID=448686
At first I thought it was a swap lease .
BTW --MB holds the original lease buyer accountable even in a swap.
At first I thought it was a swap lease .
BTW --MB holds the original lease buyer accountable even in a swap.
I was able to get a qualified person to take over the lease of my '06 E55 with no further liability on my part once the paperwork was done. MBCC was very helpful in this case.
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Thanks. Knowing the amount down etc would be great.
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From: South Florida
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According to this http://www.carleaseswapblog.com/1036...enz-financial/
Mercedes-Benz Financial
Lease Transfer Restrictions:Cannot transfer in the first 6 or final 6 months of lease (some exceptions may apply) California Transfer Fee $695, Wisconsin Transfer Fee $0, Louisiana Transfer Fee $0
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From: Belmont, CA
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100K of equity that's rapidly depreciating. What's a brand new $100K car going to be worth in 3 years? You also save on sales tax through a lease. If you're only going to be keeping a car for 2 or 3 years a lease can be a better option than buying new.
I'd certainly rather own a car but I see why leasing something is attractive.
I'd certainly rather own a car but I see why leasing something is attractive.
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Joined: Oct 2006
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From: Tampa, FL
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yrralis1 - Also, in my case, the famous business owner rant applies to me, since I am able to write off my DD because of leasing the Porsche Carrera. The write off pays for the entire payment of the DD yearly. It is just a more attractive "business" decision on my part. Dont think its fair to generalize leasing a car....
Like someone said before, Why cherish a car like a carrera when you can get a new one in 3 years, and have the latest technology? Only cars to cherish are exotics, rare old classics, or something that has sentimental value.
Like someone said before, Why cherish a car like a carrera when you can get a new one in 3 years, and have the latest technology? Only cars to cherish are exotics, rare old classics, or something that has sentimental value.
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Joined: Jan 2008
Posts: 9,108
From: South Florida
Rep Power: 529
100K of equity that's rapidly depreciating. What's a brand new $100K car going to be worth in 3 years? You also save on sales tax through a lease. If you're only going to be keeping a car for 2 or 3 years a lease can be a better option than buying new.
I'd certainly rather own a car but I see why leasing something is attractive.
I'd certainly rather own a car but I see why leasing something is attractive.
1) A car does depreciate .
2) A lease pays for that PLUS a hefty sum .
3) A 136K Turbo leased for 2400 per month back in 07 . That's 86,400 of rental !!! To have nothing . I tell you want -- please go out and find me a Turbo which sells for 136- 86 = 50K . BTW --that's only three years . Keep the Turbo for 6 years rather than lease a new one and that can pay for the next car.
Registered User
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From: South Florida
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yrralis1 - Also, in my case, the famous business owner rant applies to me, since I am able to write off my DD because of leasing the Porsche Carrera. The write off pays for the entire payment of the DD yearly. It is just a more attractive "business" decision on my part. Dont think its fair to generalize leasing a car....
Like someone said before, Why cherish a car like a carrera when you can get a new one in 3 years, and have the latest technology? Only cars to cherish are exotics, rare old classics, or something that has sentimental value.
Like someone said before, Why cherish a car like a carrera when you can get a new one in 3 years, and have the latest technology? Only cars to cherish are exotics, rare old classics, or something that has sentimental value.
1) You must remain in business to continue this state of nothingness .
2) The moment you retire --you have no equity.
3) If you pass away -- your estate beneficiaries are left with your Porsche debt and that means paying off the car of the fraction of time you drove it .
That car has Porsche's name on the title and from the moment you drive it off until the moment you turn it in --it's THEIR car . You are just renting it. You thus have become nothing more than a prop in their fantasy and as long as you can maintain your role --it's all good --so you think , That's what leasing wants you to believe .
If you bought the car today and kept it for the rest of yoir life you are not married to remaining in business to sustain the writeoff potential , you have equity , and so do your loved ones --even if it's worth ten cents it will always be a positive number rather than a negative
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I am with yrralis1 on the lease. I have leased the last 3 cars/SUV and after all those payments I ended up with nothing. And thought of endless payment to rent just don't sound logical to me anymore even though it means new car every 3 years. I have a small business and I do write-off the milage with 2 other cars but never consider adding the Porsche to the list(red flag with the IRS). In a few years my Porsche will be outdated but it is mine and I can do what ever I want with it. Even adding repair cost, it is still significant cheaper than paying for a new car. Plus it is a Porsche. It is styling is timeless and hasn't change much for the last couple decades.
John
John
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I am with yrralis1 on the lease. I have leased the last 3 cars/SUV and after all those payments I ended up with nothing. And thought of endless payment to rent just don't sound logical to me anymore even though it means new car every 3 years. I have a small business and I do write-off the milage with 2 other cars but never consider adding the Porsche to the list(red flag with the IRS). In a few years my Porsche will be outdated but it is mine and I can do what ever I want with it. Even adding repair cost, it is still significant cheaper than paying for a new car. Plus it is a Porsche. It is styling is timeless and hasn't change much for the last couple decades.
John
John
The IRS’ luxury auto tax rules limit depreciation write-off for the portion of the car’s price that is in excess of $17,000 for the first few years of use. In other words, a new Rolls Royce and a Saturn will receive the same depreciation, They’re not going to let you tool around in your Silver Cloud and use tax law to subsidize it.
Best bet is to buy a 2 year old Porsche, pay cash for it, and drive for a few years or keep it forever. What it costs you for a 3 year lease, you can pick up a 3 year old 997s and own it...no brainer.