My current 911 lease is coming to the end next month and am planning to look at a Panamera S. My residue is about $10K less than current market trade-in value. If I buy the car from PFS and sell it on my own, I can definitely make some money.

My question is: Has anyone used his/her lease as trade-in for the next car if s/he knows the car is worth alot more than the residue (any So. CA Porsche Dealers would buy the car by paying off the lease than uses the proceed as down payment to the new car ??). I personally do not want to go thru the trouble of buying the car from PFS (and pay the sales tax) than sell the car before getting the new one.

A friend of mine told me that he traded in for a BMW 7 series and the dealership took care of everything. Wondering whether Porsche dealership would do the same thing.

Thanks in advance.

 

It can happen. I had a low residual at end of lease on my prior car. My residual was way under wholesale book and my Porsche dealer (Auto Gallery) took the car and gave me almost 7k credit which I used towards cap reduction on my new Panamera S, which I also leased. If you are in So Cal you might want to see what they will do at Auto Gallery...(Eric is sales manager).

 

yes, i have done it few times. i "traded it in" and used the extra money for my new car. this also eliminated any potential charges from turning the car back to porsche.

 

How did you negotiate the deal? Did you first settle on the purchase price of the new vehicle first then work on the trade-in price? Or, just 1 package deal.

thanks

 

I have done this as well. The dealer gave a price they would pay for my leased car - the difference between the price and the residual value on the lease - was applied as a credit to the purchase of my new car.

I approached it settling on the price of my trade in first. So I knew how the would value it and I was happy with the price. Then we negotiated the price of the new car until I was happy with that, then applied the net credit off the price of the new car. My goal from the start was to reach a specific out the door price for the new car - we got there.

Most S. Calif. dealers are happy to get your used 911. I did my deal with Newport Beach Porsche and they were easy to work with.

They started low on the trade - I was not offended - they are in business to make money - but once they understood I was informed as to values - they gave me a fair price on both ends and I got a good deal and they got another car to profit on.

Good luck.

 

I don't really think the value of the used car can change that much since mostly based on while sale price and recent sales. I also know my dealer well so it's not like a circus act! I always discuss the new car and then used.

 

I have done it a few times as well. It is the most straightforward way to get out of a lease before it is over (honestly, I have never completed a lease...). All you have to do is hand the car over to the dealer and they take care of all the process. They either give you a check for the difference or apply it on the new car.

Check with the titleholder what your payoff is so you have better idea of where you stand when negotiating. I suggest that you get the car appraised at Carmax before going to the dealer. Their quote is valid nationwide so they do not get influenced by your local market.

Let me share with you my last deal. I had a Panamera V6 with a 36 month lease. Payoff was 64.5K with 18 months to go. The dealer offered 67 and Carmax offered 68. The dealer matched. The difference went towards a Panamera GTS for which they also gave me a 3% discount on the MSRP. When handling over my Panamera (I decided to get rid of it then and not miss the positive difference - the GTS should be here any day) I decided to also change my wife's Q5 with a Cayenne. Payoff $35k with 24 months to go (finance). Dealer offered 35 and Carmax offered 37.5. Dealer matched. They gave me 5k discount on the Cayenne. The discount and extra money were applied towards the Cayenne.

 

Just got rid of our 2011 panamera 16 months into a 36 month lease today. Carmax paid me almost $6000 to buyout my lease. Now's a great time to sell.