Here is the lease deal I have on the table.

Lovet

new 2010 Carrera Coupe 6 speed
white w/black standard leather interior
heated seats
colored center wheel caps
dynamic cornering lights (turns w/steering inputs-xenon lights included)
navigation
bose sound pkg
bluetooth telephone
IPOD
floor mats
$84970 msrp

36 month lease
10k miles / year
$1209.97 / month inc taxes
$3049.08 total inception (drive away cost) includes 1st payment, bank fee, plates fees etc

$76700 my cost of car
1452 cost of your bmw
78152 cap cost of lease /selling price

48432.90 residual 57% of msrp
.00233 porsche reduced money factor for 2010 models (curent money factor for 2011 models .00260


Here are my disagreements with the deal

The $1452 is the cost of the final 2 payments on My BMW lease. The dealer wants to roll these cost in, I think this is a bad deal.

The money factor should be cheaper, im considering waiting until the Aug 3 money factors get released. I want a MF of .00180 or 4.32%

My biggest issue is, why is the MF on Porsche's so high when BMW and Mercedes will lease for 3.6% to 5%

I would much rather order a new 911 but the MF on the new cars is ridiculous. I mean seriously I could lease a new 7 series for less than what the dealer quoted me on a new 911. (the dealer quoted me $1,500 for a MY2011)


Give me some feedback guys

Thanks

 

BMW leasing is an entirely different ball game than Porsche . You are right .. in fact I have told people who lease to opt for an X5 over a Cayenne because the lease deals are that much better .

I think your deal is awful . Even the best lease deals in Porsche have never impressed me. Buy the car . That's my opinion.

Lastly --you are trying to reason the lease using THEIR numbers . Think of only ONE number -- the final cost of that car for the term with all the fees . You'll see why I suggest to buy the car.

 

I think the lease thing has run its course. There isn't much reason to go that route, especially when it seems that the lease payments are within reach of a regular monthly payment. I've done leases in the past and you are painted into a corner leasing the car, you are limited on mileage, have to carry higher insurance coverage. You are basically renting the car from the dealer who makes money on both ends. I agree, buy the car if you are able.

 

unfortunately buying the car will not be possible. I use the leasing cost to write off business profits.

yrralis1

What aspect of the deal do you think could be improved?

 

I've discussed this a business owner who leased a Turbo and he will NEVER do it again . Whatever write off you get can be recoved IF you simply kept the car longer . keep that car 6 years instead of 3 and you come out ahead .

If you insist that you MUST have a lease write off then lease cheap car with great lease programs to preserve miles on the Porsche .
BUT leasing that Porsche places you in a perpetual state of non equity that when you finish the lease you have no money and no car . Even worse what if the business faces a snag .. then you have nothing.

As for the deal -
Using their numbers it will ALWAYS come out bad . Even if it were a high residual lease the payments are great but you are STUCK in that car no matter what . To get out will cost you a fortune .

In your particular deal the kicker is the money factor and that seems tio be a benchmark of Porsche leasing . Plus you are bidding on a 2010 car with lowers the residuals but no matter how you play this --you lease , you lose !!!

If you want Porsche and want to win --buy that car and keep it six years. Place as much down as possible and hold it long term .

 

yrralis1

who are you financing through? and if you do not mind me asking what rate are you getting? I want to get at least a 4.5% rate.

I am aware of the porsche 1.9% rate, I just need to read the fine print before saying I will apply for it

 

I own my cars outright .
At the moment on a 2010 car I don't know anyone who can beat the 1.9 percent .If you love that 2010 car 10K off and 1.9 percent sounds like a great deal to me . In 6 years that car will still be worth 45K (retail with low miles in good condition).

 

I agree with the comments about leases - you can't get out early if you need/want to.

The problem with car loans is the amortization schedule. You pay all the interest up front. No matter how I stack it, it doesn't make sense to not pay in cash (unless you don't have the cash).

 

I would at least wait until your BMW lease is over, that way it isn't part of the equation. Porsche will still have 2010's in in September/October, and the deals will likely be better, it is possible that the car you are looking at will sit for a while longer too, as it has a less common transmission.

 

If you really want to lease and are only interested in the car for a short, defined period, why not look at swapalease to see if that makes any sense?

Otherwise, I have to agree with the others. However, while I buy my cars, I have no track record of keeping a car 6 years.

 

Porshce went as low as .00124 last September. I leased my 09' C2 at that buy rate http://images.ibsrv.net/ibsrv/res/sr...ilies/cool.gif

Friends tell me I should have bought the car, but there were several compelling reasons for a lease. Now that I've had the car for a year and love it, I'd buy it if my lease ended tomorrow. Cool thing is, with my 55% residual (12k/yr) I won't have thrown money away on the "rent" payments (as people call them). If I had bought the car, and wanted to trade it in at 3 years with 36k mi., my guess is $40,000.00 trade in (if that). With the dealer markup, it would sell as a CPO car for $55-$60k. So my buyout of $44,500.00 seems like a great option to me. by my math, I'll end up paying $6,000.00 more over the course of 7 yrs. (48mo. finance on buyout) for a better tax deduction in yrs. 1-3 and the luxury of turning the car back at 3 yrs., should I choose.

I'm more than okay with that...

Good luck,
DRP

 

Thats no killer deal if you ask me. My personal car ( 997.2 ) had a MSRP of $92. I put $2000 total down and I pay $1242 with tax ( 6%) and this was in the height of the market =(

 

Local NorCal dealer is offering 0% APR on select 2010 models

----------------------------------------------------

http://www.stevenscreekporsche.com/specials-1.aspx


0% APR AVAILABLE ON
NEW 2010 PORSCHE MODELS!
OFFER EXPIRES 7/31/10
0% APR AVAILABLE ON NEW 2010 PORSCHE MODELS!

0% APR AVAILABLE ON NEW 2010 CARRERAS, CAYENNES, BOXSTERS AND CAYMANS FOR UP TO 36 MONTHS 0N APPROVED CREDIT. EXCLUDES 911 TURBOS, GT3, GT3RS AND PANAMERAS. $27.77 PER $1,000 FINANCED. NOT AVAILABLE WITH ANY OTHER SPECIAL OFFERS OR DISCOUNTS. OFFER EXPIRES 7/31/10.

 

In my opinion he has to close this deal today . It's end of the month , end of the business week ,special program ends, inventory is high ---

This is his moment. Today.

I think I found his car. I may be wrong but if I am right on my guess the dealership he's shopping at gets high ratings on this forum . They are solid rep , FIRM on price, OUSTANDING in service.

His hardest part is to close the price .

He has leverage -
1) If they lose his sale .. the program ends , the month ends. and 2011 is already here and they still have this car.

They have leverage -
1) the base car is an entry level 911 and it also atttracts Cayman S shoppers (with the special programs) as well as 997"S" shoppers (looking to save) .

Bottom line --he (the buyer ) has more leverage --the money is better off in the dealerships pocket tahn collecting dust sitting in inventory on their lot.

The BMW he ought to keep . It will NOT help his deal. In fact he may even decide to lease a DD BMW within the two months. If he absolutely must rid himself of the BMW he can try and pull it into the deal but but It will hurt the deal.

 

Your website has a similar car listed in new car inventory. Just in case he decided to shop beyond his region.