Year, Make, Model, and Trim: 2022 Porsche Cayenne GTS
Location: New York
Monthly payment (pre-tax) / the contractual payment given this is currently in NY: $1,981.81
Effective monthly payment (including upfront payment): $2,284.84 (assuming mid Nov transfer which is optimistic)
Current mileage: 3,543
Maturity mileage: 35,012
Effective miles per month: ~950
Maturity date: 08/16/2025
MSD due (if any): 0
Cash due (if any): $10,000
Incentive for new lessee (if any): None
Financial institution: PFS
Transfer fee: $900 (transferee pays)
Out-of-state transfer allowed (yes/no): Yes
Vehicle condition (accidents, tire wear, etc.), options, and other details: like new - garage kept, always hand washed, detailed every 3 months.
We love this car and waited a long time for it but I also got on the list for a new RR LWB V8 which I took delivery of 2 weeks ago. Figured I’d give my wife the choice between the Cayenne and the RR. I personally like the Cayenne more since it’s a drivers car but she loves the comfort of the RR. I can simply sell the Cayenne and walk away for free but (with the incredible help and support of a fellow member) I got it with a low MF and even a discount (though as mentioned I had to wait a long time for the car) so a transfer even with the upfront payment makes this a “good” deal in this market. I’m not pretending I’m offering you a Porsche at a Honda price (this isn’t a typical leasehackr deal) haha. I figured I’d gauge interest here for a few days though there is a part of me that doesn’t want to deal with tire kickers etc. Not an “incentive” per se but included are the first two services - I got it because it bumped the residual 1%.
Photos: Will post recent photos as well but here are a few I’ve taken over the last few months:
Unless something has changed, just be aware that you will still be liable for the lease if the next owner stops paying or makes a late payment. If they are late, that will hit your credit, if they stop paying, it’s on you to keep paying or you can wind up with the consequences of that on your credit also. The safest bet is to just sell out of it.
GLWS this is an awesome SUV. As a trustworthy internet stranger, I’d suggest looking at selling the RR instead. The LWB V8 is hard to find and I read they stopped production until 2024 (V8’s, but don’t quote me on that). Assuming you got it for around MSRP you could definitely unload it for a very nice profit and cover the Cayenne payments for awhile, if not through the entire lease.
Yeah I can definitely make about $15k at least on the RR but it’s not ultimately my decision haha!
For PFS I thought liability transfers? Can someone confirm? I’ll call them today at some point but yeah no way I’m transferring if I remain liable.
Yea you remain liable. Nissan does this also. Basically someone can “take the car over” make a couple of payments and completely stop and you would still be on the hook.
Also on this deal the car comes out to $2.40 a MILE, per month. Someone who can afford this payment isn’t going to take over a lease they’ll just go buy one new.
I’m not super sure, I thought Porsche alone in the VWAG changed that policy, I very well could be wrong.
Confirmed that with PFS the liability does indeed transfer and I’m entirely removed from the account so this is up for transfer if someone wants it.
I would say there is a market for the upmarket enthusiast who hasn’t hit the “FU” money threshold where they would consider something like this.
I know a few people who use vehicles like this for Turo/Rental fleets that don’t make insane amounts of money, but have the revenue to justify taking on more payments.
It’s not a great deal but it’s still cheaper than what you would get right now new for sure. It’s pretty much brand new / no scratches or wear and tear etc. I do agree though that many in this market will want a new one (and one they spec themselves) but if this is a spec you want and you want to lease etc this is a very good option. I may not find the person and then I’ll either sell or I might even just keep it outside of the city but I need to make space in the city now (parking costs lots of money haha)
That’s good to know they caught up with the times! Thanks for the info.
I wonder if Audi FS is making the same update
Save yourself some parking space. Would you like to transfer your RR?
Funny, when I had my Macan years ago they told me they were going to make the change, but would never say when. I just assumed they hadn’t since I know Audi still won’t transfer liability.
My bad @ah84!
Haha you will need to make a strong offer. It’s a 142k car and I already got an offer of 175k for it. People are going a bit insane for these - but I get it to some extent… they are new and they are pretty awesome
All good - thanks for making me check and not just assuming haha
Ahah! Confirmation my brain isn’t completely filled with mush.
@eights38 is selling his RR in the NYS tri-state, could you say who gave you that strong of an offer (recently I hope) to help a LH out?
Out of curiosity, why do you keep multiple cars in the city? As someone who lives in Brooklyn and is looking to buy a 2nd place outside of the city (hopefully east of the city), just trying to understand the motive.
I normally have just one - have two right now because I took delivery of the RR…
That being said in the summer I keep two in the city because we drive both frequently then.
PM me - I’ll share details once I make my final decision.
What are your actual payments included tax?