Trying to figure out how these numbers line up for a 2019 Porsche 718 GTS Demo
MSRP: 97k
Sell Price: 72k
RV: 49%
MF: .0027
Taxes are NYC - 8.9%? (zip 11215)
Dealer quoted me for 36/10 at $1174.41 after taxes/fees and this is through PFS. I wanted to try with Ally Bank or US Bank but they just said they are more expensive.
I just dont get how a near 26% discount still adds up to this much. I’ll check Edmonds for the base MF
Plain and simple.
6.49% APR interest / Money Factor. Yikes.
About $700 in depreciation and $350 in rent charge. Add a little tax, and there you go
Edmunds says there is no more lease support… why did this finance guy quote me a PFS sheet?
This seems like this would be a much, much better candidate for a purchase than a lease anyway.
It’s a Demo lease, it’s well documented to be possible. Also, give @fredyge94, I know I @ him a lot, (Sorry Freddy) but he’s honestly a valuable Porsche and exotic expert on the forum. He works at Manhattan Motorcars, and please give him a chance to earn your business, purchase or lease. As mllcb said, it might be more prudent to finance vs lease, look into that as well!
thanks, I saw this forum. i was just trying to see what was possible with a seemingly heavily discounted demo. if they do not wish to give the numbers from ally/us bank then no problem. I have no interest in financing a vehicle now and even if i found a great lease, I’d have to figure a way to get rid of my current 4 series or sell my E class Benz.
If anyone is interested and thinks they can talk the dealer down, let me know. I’ll forward info.
I’d say the 49% residual is the worse culprit.
Everything about it gives me a yikes feeling. I can’t tell people older or richer than me how to live their life, I can only do math and do what makes sense.
As others pointed out don’t lease, the MF is straight up outrageous plus the residual has taken a big hit, it’s simple math you need 35% off MSRP to get to the “magic” 1% payment rule.
The lowest base MF that PFS currently offers is .002 on a stripped Macan which tells you the brand doesn’t really worry about moving cars.
Shhhh, 1% rule doesn’t exist. As a Porsche dealer on the forum pointed out, Porsche makes a ton of profit per car, they have prestige, brand name, and that Porsche logo as a shield (literally). They don’t need to ‘move’ cars, they simply sell them.
Just curious
Where were expecting the numbers to end up?
Also-
Did you add up the total cost of payments
Plus the RV
What’d you get?
Why waste the dealers time if you’re not ready to lease anyway?
Just to see how low he will go?
They make most of their money on commission.
Base MF is .00200 for Porsche now, which is certainly high by LH standards but way better than it’s been in the past year-ish for Porsche.
.002700 is absolutely atrocious. Combined with an equally atrocious residual of 49%, this is what sends this deal down the toilet, as mentioned above.
For less than $100 more per month you can do a straight 60 month finance and own it after 5 years, rather than paying $41k to rent it for 3 years.
How long ago did you get quoted this? PFS doest support 2019 Caymans on leases any longer. PFS stopped support on Caymans in the end of March. In March, PFS had a 43% residual at 36/10. That and the .0027 MF means this quote must be from like mid last year.
The guy sent this to me Monday night. They must not know what they are doing
Was not told the RV/MF until late yesterday… had I knew the MF was that bad I would have landed around 1k+taxes… I was thinking $750+taxes for that discount. This is a good deal for finance, not lease. Close the thread please if you can.
Sweet car. Buy it for $72K plus TTL. Look up values of a 3 year old Cayman GTS. I can’t see you getting financially crushed IF you want to get rid of it in 2 -3 years. Porsches don’t lease like a 4 series or an E Class.
Lol, have you ever leased a Porsche before?
Closed per OPs request. PM us if you’d like to reopen.