Pre-Owned Porsche 2017-2019 Deals Pros/Cons of Leasing

Hi All- Rookie here who’s trying to buy my very first car. I’ve always been intimidated by how dealers calculate their numbers especially with leasing. It took me a bit to understand that and the lingo. Next, I’m trying to learn how pre-owned CPO are priced by dealers and how to spot a great deal. If you have any suggestions, please feel free to chime in. I want to learn.

I was looking at a new car… but right now it seems getting a pre-owned will get me more car.

I’ve been back and forth with a guy for a new 2020 Cayman Base since last Friday. I was thinking of leasing it since I don’t see myself having it after 3 years or so. But after doing the math, it wasn’t a good deal.

MSRP: $62k
Cap cost: $61k
Residual: $36,268.08
36 mos
10k/yr
Tax: $5381.69
Fee: $800
Down: $6600
APR: 4.9% (but I have top tier credit)
MF: 0.0018
Monthly came out to $878 :woman_facepalming:

I’m discouraged and feel overwhelmed. Would it be worth for me to just hire a car broker but I do want to learn too…

Please no judgement… my husband wants me to learn all this on my own and I get it! But ugh!

Wow, and you’re looking at a Cayman? :+1:

In any case, you probably want to first decide on the type of vehicle you want… 2-door, sedan, SUV… and then decide your price point (along with how much you want out-of-pocket at drive-out). Maybe start there, then look up all the Leasing 101 articles out here on LH. The forum is a great resource, but the more specific your question, the better folks can help.

Good luck!

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Caymans due not typically have incredible leasing value.

If you want a similar car that leases better, take a look at the BMW Z4 (which usually has higher incentives).

@Kctham18 is correct in that you should read the Leasing 101 articles to better understand how the numbers work out in order to get a good deal. Ignore the one about the 1% rule.

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I’d even go as far as to say Porsche’s do not have leasing value… better bet is to buy/finance a Porsche than to lease.

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True, but I don’t want to completely deter someone from getting a car that they want compared to a car that has better value.

Also, you have to factor in the maintenance costs of the Cayman vs. the 3 years/36,000 miles of free maintenance you get with the BMW.

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Whoa you guys respond quick! I’m trying to multitask… of course I have to hop on a conference call… but please I do wanna chat… trying to get my coworker off the line :rofl:

.00180 MF equals an effective 4.32% APR so something doesn’t make sense there.

It’s true that Porsche’s in general don’t lease well but there can still be decent deals to be had if you’re set on one. Don’t let all the “lease this BMW instead” chatter distract you, happens in literally every thread.

For starters I would get more details on the quote you have. Are they only discounting the car $1k? If so then that’s pathetic. Also verify what the MF is for July at Edmunds. .00200 is the standard Porsche MF but sometimes it will be more competitive on the base mid engines depending on timing.

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Yes. I really want a Porsche old or new! If I go bmw, it’s like buying jimmy choo vs. Christian Louboutin in girl world! :rofl::woman_facepalming:

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If I don’t get a Porsche, I don’t think I will get any other car just because we already have what we need and I think this is a treat Car for myself because I have always wanted one :grimacing:

This is definitely not the right forum for those. :rofl:

How important is the Porsche badge vs. The actual car? Within Porsche itself the 2020 Cayman is a whole new animal from the 2017 model.
A CPO Porsche is the way to go from a value perspective but the 2020 model is brand new.

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Decide the exact car you want

Find said car in area you’re willing to drive/fly to get the car (or ship it)

Look at 101 and try to workout where you should numbers wise on the leasehackr calculator (Porsche does not lease well in general)
To get the discount on similar car, look on this forum and Porsche forums.
To get MF/RV and incentives (IF ANY) make an account and ask on Edmunds (“2020 Porsche Cayman lease edmunds”)

Email or call the dealers you found the cars at and compare all the offers

Ok! I will definitely look into leasing 101. :pray:

Jimmy Choo’s don’t lease well, you should look at a BMW.

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I would take a look at CPO programs then. @fredyge94 is a Porsche dealer on the forum.

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:rofl::joy: focus @loonysup :rofl::joy: my sister and I are lol

@j_e_f_f it’s probably my math!!

Negotiating + all the responsibilities of ownership (eg maintenance: knowing what’s needed vs what’s being upsold; detailing; any paintwork or PDR if necessary, etc) takes some experience… with likely some trial & error along the way.

Not saying it can’t be done with a Porsche but it’s a very expensive way to make any rookie mistakes or get some laps under your belt.

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@max_g you are correct. I appreciate the advice so much. I got a quote from my insurance if I were to add a cayman and info on gap insurance. I’ve added maintenance fee to my list to look into.

Porsche is pretty much the only brand I’d consider a CPO lease from and @fredyge94 would be my first stop

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I will look at leasing articles… @Kctham18 and will keep in mind if I will lease or finance. Especially if the ROI is better financing.

I did read some where 1% may not apply to Porsche. @volvo1 thanks for the maintence reminder.

Ok, I will sign up on Edmunds to verify July MF… thanks for the input that 0.0020 is standard on MF perhaps will keep as baseline for better @j_e_f_f

Yes, I’m trying to be realistic in doing my due diligence in comparing 2017 vs. 2020. @Carfuffle

Will definitely look at 101. I’ve seen rennlist (I think for Porsche forum) thanks for the advice… will see if there are any discounts. Account on Edmunds will be created in a few minutes. I have started emailed dealerships… @Splattered

@max_g I didn’t even think about the Upsell dealers will pull on me especially during paperwork signing… thanks

@mllcb42 I will ping @fredyge94