I have been exploring CPO leases, primarily Porsche, and have only been close twice - and both times I found that the vehicle would likely have required tires and brakes before the lease was up (one 12 and one 24 month, both under 30K miles). On top of the 3 or 4 year service (both more expensive than 1 or 2), I found the total cost of “ownership” during the lease period to be too high for me. NOTE that neither instance was with any of the brokers from Leasehackr.
My question is whether I am likely to discover similar situations with all/most of the CPO lease deals. Doesn’t mean its a non-starter for me - just means that I need to mentally add in the replacement/maintenance costs before I start making my inquiries to specific posts.
It’ll vary, some of them may have relatively new tires but to meet the spec they should have at least half of tire and brake life. In particular you could have to replace rear tires but it kinda is what it is.
The services are much more affordable at Indy shops than the dealer
Thanks, but I always worry that in the event of a major warranty issue the manufacturer will challenge indy shop work as non-compliant. Perhaps I’m just being paranoid
Shouldn’t be an issue if you take it to a respected Indy that works on Porsches. If you take it to a 50 dollar oil change place and they do some weird stuff, maybe have issues but assume most would not do that.
This thread is along the lines of… “how long is a piece of string”?
It really just depends. Porsche in particular is going to be a pay to play. Maintenance absolutely has to be completed as directed. If something like tires is a make or break (regarding overall goal, not necessarily if the individual is able to afford) … likely looking at the wrong brand/wrong car. There are most cost-effective appliances out there.
Very circumstantial. For example, a CPO with 70% tire life could last a guy the entire 12, 24, 36 month term and he would still be fine. The next guy could get a CPO with brand new tires and he has to replace them before his 12 month lease expires.
For the majority of other brands, it would often technically be a standard “new” vehicle lease… although the vehicle may be a retired demo or loaner. I’m not sure if that is what you’re referring to? Most brands do not have true CPO leases. The rules of the game done change, just the amount of chips you’re dealing with. Chances are tires, brakes, maintenance, etc. on a CPO performance Cayenne is going to run significantly more than what you’d see on a ex-loaner Traverse.
Totally understand. I guess the question goes more to whether dealers tend to lease out CPO’s that are closer to the minimum guidelines vs CPOs they sell.
And as for the “pay to play”, of course. But I do think that people looking on leasehackr at a 2022, 12 month Porsche lease are at least somewhat focussed on the dollars. And if you’re looking at a $800/12 month lease that requires you to put on tires and do the 4 year service, you’re adding roughly $500/month to your lease (2K tires, 4K for the service - obviously approximations).
Haaaa, that is also going to heavily depend. There are dealers that will bring the vehicles up to nearly the best of standards, and there are those who will skate by.
Numbers need to be realistic to be worth discussing. What’s in this 4th service? A Mercedes for example would need oil change, cabin and engine air filters and brake fluid for about $400 at an indy
And I said it very circumstantial, so there isn’t much point in talking specifics. For example, one of my vehicles now ONE of the rear tires alone is $700-$800 (unmounted). Does that apply to the majority of the brand, or even that model line? Of course not.
@li8625 ‘s low effort AI generated meme encapsulates how much value you should put on the average Porsche CPO process. My recommendation, keep the Porsche CPO lease terms short (eg 12 months) and minimize your exposure to needing tires/brakes.
In 2023, Rennlist guys were talking $4K on a 4 year for a 2019 Cayenne - I’m sure that it varies depending on location but that is where the number came from - and I’d be surprised if Porsche dealers have reduced service prices in the past couple years
Ya the 40k is a big one. Even at an indy prob gonna be a couple K. Ideally get one with 25k or less miles I guess seeing as most are either 12/15k or 24/7500
Most are also likely referring to the dealer service. A standard service (oil change, inspection) is usually around $2k at dealers. As its been mentioned a ton, a good indy is often much cheaper.
I hit the 30k service mark on my Cayenne Turbo 12mo lease and got quotes from local indy shops and dealers. Dealers were charging $2k+ for the service, which on the Cayenne requires spark plugs at 30k. I was returning the car within 3mo so one dealer told me to just do an oil change and let the next owner deal with the spark plugs.
Indy shops were charging $400-500 for the oil change. It turns out the 30k service had been prepaid by the previous owner, so I ended up getting the full 30k service at a dealer for free. Make sure to always check that before forking out $$$ on service for a CPO car.
A dealer does not care how it is sold, just their bottom line. They are not going to replace tires or brakes unless it is required as part of the CPO process. Even at 50% for brakes, I would not be concerned on a 1 yr or maybe a 2yr, depending on how many miles per year I drive. Tires should last 15k-30k depending on the model, so consider that.
I’m back with another potentially stupid question (learning experience!). A dealer is telling me that they can CPO a factory buyback - branded title - car and then lease it out via PFS with full CPO warranty. I’m surprised on two levels - 1. that they can CPO a buyback and 2. that PFS will lease out that CPO/buyback.
Putting aside whether it would be a good move for the lessee (still gotta deal with the service issues over the lease terms, even if covered under warranty), any of you ever seen that conceptually - either the CPO part or the lease part?
PFS will lease buybacks/lemons under their pre-owned programs. I will be honest that I do not know the particulars of the warranty as it pertains to lemons, since it is not something my dealer will ever sell. It is something that can be worthwhile depending what the buyback was for and why it was bought back (i.e. waiting 30+ days for a part vs. 10 service visits for the same problem), compared to how cheap it is to lease. But personally, I would stay away since someone would have to have a serious problem to force a buyback.
