Planet-9 Porsche Forum banner
1 - 14 of 14 Posts

·
Registered
Joined
·
6 Posts
Discussion Starter · #1 ·
Hello all! I'm new to the forum and new to Porsche. (Well, my husband has a 2011 Carrera S but it's his car!!)

I'm going to be coming out of a 2011 Jaguar XKR lease at the end of August and am just about to order a 2015 Boxster GTS. I'm so excited!!

I'm working with an auto broker and the dealer she connected me with is about two hours away and he accepted my offer of $88,000 for a fully loaded GTS (about $4500 off of MSRP) that I'll be ordering (expected arrival will be August).

The deal through the broker is: Purchase price - $88,000, 36 month lease, $2500 down, 7,500 miles/year and a lease payment of about $1325 which includes tax & license.

My local dealer gave me these numbers: $92,430 msrp (no discount), 36 month lease, 7500 miles/year, lease payment $1715, money factor .0032, lease end purchase price $51,186 (residual value?). (If my math is correct that means that he's quoting me a 55% residual?)

Clearly my local dealer is not willing to negotiate at all because I'm looking for a vehicle that will be ordered and is not sitting on his lot - however to give me zero discount when we just purchased a car from him in 2011 and the fact that my husband is looking for a 2015 Turbo....I feel like this dealer is really taking advantage.

Can I get some guidance regarding a target money factor? From reading forum posts I know that .0032 is really high. Does anyone know when the residual values for Boxsters will be available for a July/August timeframe?

Once I get my deal finalized (based on the allocations), then I'm working to finalize a 2015 Turbo for my husband.

Thank you!!

Sandy
 

·
Registered
Joined
·
6 Posts
Discussion Starter · #2 ·
Quick update in the absence of any replies...I was able to negotiate a money factor of .002 with the broker and I placed my deposit and order today. I'm still shocked that my local dealer was so matter of fact about asking for a .0032 money factor and zero discount off MSRP.

Lesson learned that you're much better off asking for what you want and negotiating from there. It's surprising to see how relatively easy it is to get what you want. I did find this site to help convert the money factor to APR:Money Factor Converter Calculator - LeaseGuide.com

Hope this information helps someone looking to sign a new lease on a 2015.
 

·
Premium Member
Joined
·
5,866 Posts
I'm surprised that your dealer wanted to play hardball. In the end you learned a good lesson which is to never take the first offer.

By the way, GTSs are not so exclusive now that the GT4 is out. My dealer called me and asked me if I wanted to lease a GTS. He offered me a pretty good deal but I didn't feel like it was the time to trade.

For all of you who have a GTS I am not denigrating your car. They are fantastic cars! I wish I had one.
 

·
Registered
Joined
·
34 Posts
The money factor is NOT good. Base money factor is 0.002 (per my research).

At 0.0032, your money factor is equivalent to a 7.68% interest rate
At 0.0020, that's 4.8% interest rate

I've leased BMWs for my last 3 cars. BMW provides very good lease rates, because the money factor is low (0.0013 and lower. Sometimes, much lower. And, you can pay extra monthly payments up front (security deposits), and each one that you pay lowers the money factor even further, AND you get that money back at the end. It's way better than paying down the capital cost up front.

So.... I don't think Porsche has good lease deals. As my dealer said "we have limited supply and high demand, so we don't have to give away money like BMW."

Bottom line - you should be able to get the same discount off MSRP that others are getting ($2000 or more? Much more?) and use the base money factor from Porsche. Dealers markup that money factor, so tell them you can't make the deal unless they are at the base rate (0.002).


***Edit - I see that you did the deal! Awesome. Enjoy your car. I'm going to contact a broker and see if I can get a better deal on a Macan than the dealer gave me. ***
 

·
Premium Member
Joined
·
287 Posts
Glad you got a good deal. Sorry, I could not help you on your question as I have always bought used and paid cash. It does sound like your local dealer must be doing very well since he doesn't want to really deal at all.
 

·
Registered
Joined
·
4,848 Posts
Quick update in the absence of any replies...I was able to negotiate a money factor of .002 with the broker and I placed my deposit and order today. I'm still shocked that my local dealer was so matter of fact about asking for a .0032 money factor and zero discount off MSRP.

Lesson learned that you're much better off asking for what you want and negotiating from there. It's surprising to see how relatively easy it is to get what you want. I did find this site to help convert the money factor to APR:Money Factor Converter Calculator - LeaseGuide.com

Hope this information helps someone looking to sign a new lease on a 2015.
I always propose an offer to a dealer after my research is completed, and I never ask for a percentage off MSRP like most everyone does. I always find the invoice price, and negotiate an amount over invoice. My initial offer is refused 100% of the time. I then tell the SA that I'll be taking the same deal to a nearby dealer. About 50% of the time the first dealer will reconsider and accept my offer. If I don't get a call back, I shop the same deal around to nearby dealers. I have two big advantages: 1. Four Porsche dealers within an hour of my house; and 2. Email. In the old days I had to negotiate in person which can be very time consuming.
 

·
Registered
Joined
·
6 Posts
Discussion Starter · #7 ·
That's really interesting information about the BMW leases and the low money factor. My first cabriolet was a BMW 3-series. Cute car but utterly gutless.

I'm feeling good about my GTS deal with the broker. We're now working on a deal for a Turbo S for my husband. His dream car is the Turbo S Cabriolet but if I had to guess, we'll probably end up with the Turbo Cab instead of the S. We'll also likely purchase this car and keep it for 5-6 years instead of leasing. I still think it's way too much money to spend on a car but if it makes him happy and I can still buy all of the shoes that I want.... :)

What do you all think is a reasonable discount to expect off of MSRP for the 2015 Turbo S Cabriolet? I started the negotiations by giving the broker a figure that is 8% less than MSRP.

Overall I'm really happy that, as consumers, we have so many options and information available to us now. I'm quite certain that when we leased my husband's Carrera S Cab that we paid too much and probably got royally screwed on the money factor. Lesson learned!

Thanks everyone! Looking forward to learning more and more about Porsche!

Sandy
 

·
Registered
Joined
·
6 Posts
Discussion Starter · #9 ·
UPDATE!!

Just took delivery of my 2015 Boxster GTS!! It is gorgeous and drives like a dream.

Will post pictures later but just wanted to report that I am in love with this car. :)


Sandy
 

·
Registered
Joined
·
351 Posts
Awesome! Where in WA are you?

My 2016 BS is due at the end of August and I'm pretty excited!
 

·
Registered
Joined
·
6 Posts
Discussion Starter · #11 ·
We're in Issaquah. So far I haven't seen any other GTS Boxsters. Good luck with yours! You'll love it!
 

·
Incurable Gearhead
Joined
·
993 Posts
Congrats Sandy! And what a lovely place to live with such a pair. Some dear old friends of ours built a beautiful home in Sequim and we've enjoyed time up there with them. He owns a 356, '89 911 Speedster, '10 911 S. Perfect toys for your WA roads!

Looking fwd to pics. Enjoy!
 

·
Registered
Joined
·
763 Posts
7,500 miles a year lease is weak. You'll be stressing over every mile turning on the odometer. I hold back on driving my 2014 CS, and I put 12,000 miles on it year one. I own 5 cars and drove them all and still it 12K miles on the Porsche. Enjoyed every mile.
 
1 - 14 of 14 Posts
Top