Hey Guys,

I haven't seen too many threads with hard numbers so just wanted to share my experience.

There are like 5 dealerships in the Los Angeles area. Mina, Fleet Manager from Pacific Porsche, was the most willing to deal. Glen Fagin from Beverly Hills Porsche was also super nice, but he would always punch some numbers in a computer and show me the computer screen. He would show me how he is "not making a dime" on the deal but I did my own math and from my calculations he was making like $4-6k. Anyway, the numbers didn't add up for me. Also he was firm on 0.00240 MF. I thought the computer was rigged. This happened to me when I was shopping for my 991 also. Don't trust them when they try to be "up-front" and show you the computer screen.

Also gave my previous sales rep, Keith Beitter from Park Place Porsche in Dallas, Texas, a shot but he seemed to be way too busy to be able to give me the time of the day. Oh well I gave him a chance. Good guy and very easy to deal with if you can get a hold of him. No BS with him. Just couldn't reach him properly for this transaction.

Back to Pacific Porsche.

Lease Deal
MSRP - $67k
Term - 24 months
Cap Reduction - $0 (drive off / first month only, naturally)
Residual - 72.5% (unconfirmed - I asked for 27 months which was 70% and Mina said 24 months was 72.5%)
MF - 0.0020
Monthly - $699 CA tax included for 5k miles; $729 CA tax included for 7.5k miles

That was killer for me so we went forward with the $729 a month. PFS came back and said, "Sorry AoshichanX you are still a noob; after you finish your 2 year lease on your 991 then you can come back to us and lease 2 Porsches at the same time."

I looked at my GF/Wife and she patted my back and told me "A" for effort. We gathered up our stuff to get ready to leave. Mina started talking financing. We were either very naive or he was convincing or both.

So I bought the car.

Financing Deal
$15k down
Chase - 2.46% APR
Monthly - $733
Purchase Price - $58k


hope this helps!


EDIT:

Oh crap! I also wanted to note that while I didn't test drive the Cayman, I have to say it is extremely sexy. I actually prefer the front and sides over those of the 991. The black 981 splitter gives a hint of lambo. The side air vents give a supercar R8 vibe. But I like the 991 rear much better than that of the 981. Looking at the interior of both my 991 and 981 and how virtually 85% of the parts are shared, I must say the 991 is extremely overpriced. Similarly, I popped both of our frunks and the layout, sizing are exactly the same. I think our hoods are actually 100% identical.

I guess the Cayman is free of the heritage constraints the 911 faces so the engineers and designers aren't afraid to propel the Cayman to the modern era.




went with Rhodium Silver; my 991 is in the background.

 

That lease deal looks pretty awesome. So what was the total drive off with the first month and fees?

 

And the purchase price looks awesome too. $11K off of sticker is the best I've seen so for for the 981.

 

I am not sure what math you use but it looks like a $9k reduction. Either way nice deal. Congrads on a pair of great P Cars.

 

My bad. I transposed the the numbers and read $68K MSRP nd $57K selling price (dyslexia).

 

Hey since we couldn't move forward completely with the lease, I only have round numbers. It was $2,200 for first month & drive off.

 

Thanks!

I've never seen residuals in the 70% range for Porsche. Good time to lease for sure.....

 

I am not a fan of leasing or financing cars . However I have never seen a Porsche lease that even came close to attracting my attention . In recent times the programs have improved somewhat but not enough to convince me to dip my toes in a lease.

I happen to agree with you that looking at a computer screen with a manager declaring how hes not making a dime is comical . I don't believe the computer is "rigged" . What i do feel is that the leasing terms and numbers are merely a diversion to a shopper . It's a mathematical manipulation geared towards sounding logical focusing on a monthly payment . The only problem is that it's their numbers , their terms , but it's not their money (yet) . It's much like a magician bringing his own deck of cards to do a magic trick .

Even though i detest leasing I would focus on ONE number --the total cost of the entire term . In my opinion .. that is the ONLY number that matters .

PS. The Cayman looks awesome !!!

 

Congratulations!! Your wife is going to love it. Love to hear your impressions after you get some drive time under your belt compared to 991. Enjoy

 

If your GF and wife are both in the Cayman, where will you sit?

 

In the dog house.

 

- in my 991!!



Haha I hear ya! Below is my TLDR rationale; I could be way off, but just wanted to share my quick thoughts

I'm paying ~$4k in interest over the term of the loan if I see it to maturity. I plan to sell the car / trade it in after 2 years so the effective total interest I will have paid is ~$1800. I have the cash to buy it outright, but I feel the money can work for me better elsewhere and earn more than the ~$1800 I'll be paying in interest.

My father would always say, "If you can't buy it outright, don't get it." Despite my respect for my father, I feel like buying stuff in cash is a sentiment shared by the late depression era / early baby boomer generation. But in today's world, at least in my perception of today's world as a gen y millenial, buying stuff in cash won't build your financial credit. And I definitely need to build my financial credit so I can leverage it to get loans for bigger better things / etc, etc. I'll have loans for a 25 odd years while I expand / struggle a bit. But my children will then inherit properties with no mortgage, if it all works out

And then nowadays the accountants can do wonders with the numbers. If you make enough money, a lease can be justified and be written off completely as long as it is a reasonable percentage (I forget the number) of the total revenue. It's all a numbers game. A car lease will be categorized as an equipment rental. A financed car, the depreciation will be written off.







definitely will do!

 

The Dow was up 30% in 2013 alone. If you can use OPM at next to nothing (1.79% my last 60 month deal), why on earth would anyone use up $60-70K of their cash? Makes zero sense.

 

Thanks for posting the numbers. It's odd they couldn't give you the same money off on the lease deal as they did for the purchase.

 

Yep. Appreciating asset vs. depreciating asset.