First time poster & long time user - so thanks for your help!
My dad has asked me to consult on how to exit his lease of his 2017 Panamera Turbo and looking forward to any possible help.
He has equity in his lease - $80k residual and KBB suggests $90-100k with his mileage (~10k). This will be the first time purchasing a vehicle and I did not see much on this topic. Forgive me if it’s out there while you point it out to me.
I had a quick convo with the dealer and they tried to insert themselves into the deal.
1)How do they factor into the equation, if at all? I know Porsche Financial owns the lease.
The dealer asked if I wanted to buy a CPO.
2) Any idea on value increase? Is this worth pursuing?
Back to the dealer, I’m thinking about a new lease.
3) If we were to flip the Panamera to a dealer, how much leverage do I gain in negotiating a new Porsche Lease (Base Cayenne)?
If you’re not pressed for time, maybe hold out till May/June? When you have a better idea of the market/prices for the car… will be tough to now price and sell a $100k 3-yr old car given current conditions.
First and foremost Porsche Panamera has dropped faster in depreciation then many models out there. Thinking he’ll have ‘equity’ based off of KBB (who will only cut you a check if you click that part of the site, then need to go to a KBB purchase partner) you’re going to find a very very different story. Luxury items right now are at a near dead stand still. Thus the real # on that Panamera Turbo would be somewhere in the high 60’s to 70’s. Steer clear of thinking you have equity. The only product that Porsche has that holds it’s value is the 911. And that’s subjective based on the actual model. I’ve had a few, I know. My friends have had Panamera Turbos / Panamera GTS and equity isn’t one thing you can count on that car. Call the local Porsche dealerships, find out what they’d stroke a check for. Call PFS and find out what the current payoff is. That number is different then your ‘residual/buyout’.
