The biggest problem hasn’t been the drop in residual values - which sucks but it’s that MRM caps on MSRP to calculate residual values that started in January of 2026. It’s really made CPO leasing tough.
CPO Programs got better this month.
They should have at least 50% life for both pads and tires. How are you sure you’ll have to replace?
I don’t know, I got horrible numbers from the dealer on a Cayenne on the lease lead @Ursus posted in the new leads thread. The 24/7.5K term was much lower than the historically better 12/15K.
The car is on original pads, and the n0 tires wear quick.
The CPO report I initially got, and the multi inspection report when I took it to the local different dealer for service would suggest that one was a little to generous with the numbers…
Just something to keep in mind when underwriting a used P lease, especially if it’s from out of state.
24 is the best right now. 12/15 is going to work with any ones I have seen.
Ya I believe it. IIRC there is a reduced fee for replacing the tires maybe like 200/each when it is required at turn in? It wasn’t the full price , but no idea if it’ll need them before
I was at the dealer today. Can only lease a 2021 or newer
For CPO 911, they have a table of residual percentages based on mileage, with several different tears. 5000 to 10,000, 10,000 to 15,000, etc.
They also don’t use MSRP, they have a fixed MRM and the residual is based off a percentage of that.
MF is pretty high too around .0042 but one pay knocks 80 points off that.
So $1500 is about right for a 12/15 or even a 12/24 lease.
Keep in mind the 2020-2022 cars are depreciating around $1400 a month if you buy right and sell in 2-3 years. Mannheim prices are slightly mileage sensitive but even more sensitive to grade/condition.
IMO the lease could make sense for the right car.
It takes time and energy! I am working on two right now that are looking very promising.
Yeah I was surprised the 24 month term was better and 39 the best but only by like $10/month on that particular car.
Most of them have a 24 month warranty. You don’t want to own a CPO without a warranty. Too many things happen.
That’s not how the program works at all. They use the lower of the MSRP or the MRM. .0042 is not the money factor on the rate sheet…
I was shown a table with values by model, year, and mileage. I’m not positive if that was for pre-owned or CPO. Porsche apparently has 3 sets of values, with 2026 “new” cars being the third.
I know MRM is calculated differently for CPO and pre-owned vs new. And yes it’s the lower of the MSRP vs MRM. I wasn’t clear on that in my post above.
I don’t have the MF for July yet but I know that number I was given was marked up at least 40 points.
If you have any helpful info, please share! I have a good contact but if I don’t know the right questions to ask, I can’t bring useful info back to the forum.
12 month lease tends to have the highest MF.
With Porsche its crap shoot!
Not true at all. 12 or 39 use the exact same MF. Why are you spreading bad information?
They did not. They got worse overall apart from a few rare instances. The CPO Porsche market also bounced back up, and PFS is always going to lag, so you will see larger gaps between RVs and selling prices. But I don’t see PFS raising RVs since the wholesale values are well below the RVs they set on previous 12mo-24mo leases.
This is correct. Leases greater than 42mo have higher MFs, and non-CPO cars have higher MFs. Otherwise, a 12mo or 39mo CPO lease will have identical MFs.
Not sure where you are getting your info. I am in the process of leasing a 23 Cayenne and my payment went down $100 from June to July. The dealer even said the program got better. You are even seeing better deals on 26 models too.
Some Cayennes got better, some other cars got worse. I haven’t looked at the rest of the programs enough to have a consenus.
He literally works at a P dealer lol. Its always a case by case basis; the programs have been declining across the board but there can be exceptions.