My '09 C2S' lease is up at the end of 2010. The residual value on the lease is 70K (the car's MSRP was 103K). Never having leased a car before that I would like to purchase, my question is can I negotiate that 70K residual price at the time that I turn in the car?

 

I don't think many lease companies negotiate because most have "residual insurance" that makes up the difference between wholesale auction price and contract residual value. This allows them to get their full value out of the car no matter what.

But I would think it might be worth a shot. The worst they will do is say no.

 

does not hurt to ask nothing ventured nothing gained
my experience is that it is negotiable

 

When the time comes, see what other Porsches are on the market that are comparable to your leased car. Lower retail market prices could work in your favor as a negotiating tool.

 

Not sure how it works with Porsche but I would think it would be similar to BMW. BMW NA requires dealers to buy back a certain # of lease returns every year. In some instances they end up having more cars than they want. In this instance you can approach BMWFS and negotiate the residual price. Several things to consider.

C2S is a common model. If they were giving great lease deals when you got your car you can assume there will be a lot of these cars coming back around the same time which means a larger used car inventory. So I bet they would be willing to negotiate.

 

I leased my 07 C2S through Audi Financing, They were not willing to negotiate at all.

 

You can ask for anything but they won't budge even if they were to take a loss.

 

You certainly can negotiate the lease end price. There are, however, many variables that will determine the price that you cannot predict for at the end of this year (or whenever your lease terminates)

 

From my understanding if you leased the car through PFS they won't negotiate the buyout, some leasing companies will negotiate but not PFS.

Dave

 

One of my kids wanted my last leased car; I could not get the residual lowered but I was able to extend (actually rewrite) the lease for one year with a new residual 40% lower than the original one. Since my lease was 3 years you could not expect the same, Alan, but if the lessor is willing you ought to see 50k instead of 70.

 

Let's not forget that NEW 09's left over with similar msrps are selling for close to that lease buyout. You'd really have to get a smoking deal to mAke buying that car worth it.

Also, when the economy went for a crap and alot of companies were losing their shirts on leases, my little brother was returning his murano and they all but begged him to buy it out including offering him a 30% discount on buyout.

Unless they will renegotiate the buyout or a new, more reasonable lease term with substancially better buyout, I'd find a 2010 or 2009 new car, refinance or release it with a more current market initial price. I can't imagine you leased for 1 year and expected to buy it out anyway.

 

Never have been able to get a lease company to negotiate the buyout, as said before they usually have residual insurance. If you really like your specific car then talk to the dealer and ge them to take it from the leasing car at "market" and then repurchase it from the dealer. You should be albe to get it for alot less than $70,000, and get CPO on it. Or buy another new or used one, there are lots around.

 

Would you mind sharing what you paid per month to lease?

Generally, buyouts should be negotiable, especially in this economy.

 

Interesting that folks are saying PFS won't negotiate. I heard the opposite from my dealer in July when talking to them about various options.

 

Sounds like you got perfect execution on the lease. The market value is worth less than the residual and you only paid for the depreciation to the residual. The only possible advantage to the buyout would be to save sales tax, but I'm not totally sure what you pay tax on with a lease. Sounds like it is difficult for PFS to deal with a potential loss on a leased car, i.e. if the dealer "says" the "market" price is $60k, what does PFS have to believe the dealer? If they actually wholesale it, then it is a market trade. Others may do it differently, but that approach could be understandable.