2022 Porsche Cayenne Deal - Good or Bad?

Ask the Hackrs
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Purchase Item: New 2022 Porsche Cayenne E-Hybrid - First lease deal.

Background: I had the car for about a week now and I leased it beause I was not sure if I would like the car but after having it for a about a week I think I love it. Will I keep it for more than 3 years I do not know. There are alot of variable.

Car Details: MSRP: $116,470, Agreed Price: $113,470, MRM: $111,000, Residual Value: $63,270 (57%), Money Factor: (0.00270), Lease Terms: 36 month, Mileage: 12,000 year. EV Rebate: $7,500 (if leased dealer gets, If financed I get). The dealer gave me $3,000 off the price which is good in this market, the Money Factor (MF) should have been around 0.0021 not 0.0027 (they would not budge). My credit is in the 800’s for all three bureau’s so my MF should have been better. The car is for business use.

Question: My question is did I get a good deal? I feel they did not budge much and that I may have gotten a bad deal, if so and since it is still early, I could purchase with cash and walk away from them or finance the car at 1.79% (Credit Union).

My signed deal

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Why did you lease knowing that you would lose out on the $7500 rebate?

Your MF also would have been better on a finance.

With finance, 3k off would have have been pretty solid in this market. Since you didn’t finance, I’m sorry but you got hosed.

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You’re paying 81.5k to rent a car for 3 years 36k miles that you could basically buy for 110k plus tax including the rebate.

It’s not great

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Since you’re already in a lease, I assume you’ve lost the $7.5K already, even if you end up buying out the car.

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$2264/mo effective for a Cayenne. WOW! That is pure insanity.

BTW, the dealer does not get the 7500, the bank does.

If you had financed for 72 mos at 3.9%, and put $7500 down, which you would get back at tax time, your payment would be hundreds less.

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In Maryland the tax is the same whether you lease or buy (6% of the selling price).

In other words, no tax savings by leasing.

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Wow this looks like an awful deal. $2264 effective monthly is starting to get into Bentayga territory. You’d have gotten an X5M Competition lease and saved hundreds.

You also probably could’ve financed a Cayenne S or even a lightly optioned GTS for this monthly.

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Thanks for the honesty.

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Username check out. Bankers are ordering new brightwork on their yachts.

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You need to double check the base money factor. .0021 has not been available for a few months. Also should $7500 is a rebate/cap cost reduction and passed along to the customer, not the dealer. As for the discount, they are probably doing that since there are pocketing the rebate. A hybrid sells for over MSRP all day long.

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@CayenneCrazy
I can confirm that the dealer does not get the $7.5k, and the bank does pass it along to the customer.

Basically the dealer here sold you the car at $4,500 above sticker plus the money factor bump.

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How do you know the Taycan and Cayenne follow the same program?

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I have not read about a single bank differentiating between models when it comes to passing through an EV rebate. Have you?

Also, @wam22 who is the Porsche guy here confirmed it on the post right before mine.

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so why didnt you buy it and then 179 it?? this is awful lol.

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@aronchi There is still time. It has only been three days.

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yeah i don’t think you’ll get them to unwind it.

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You are definitely correct. It has only been 4 days so I can rectify this position and come out on top. Just pay it out right.

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Not sure what you mean. I could just pay it off. it has only been 4 days since closing.

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you can, sure.

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What will that accomplish?