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Need 4 Speed
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I have a leased Cayman S. While my lease turn in is not for another 20 months, I was researching my options and came across this posting. I thought it is probably worth sharing.

------Posting Found on GermanAutoForums.com----------------------
Trying to negotiating with Porsche Financial Services on an end of lease option was very difficult. My buyout option on my 911 S was $63,243 and Kelly Blue Book says that the car is worth around 50,000.

Porsche, the dealership & me could not come to an agreement on price. So what I did was turn the car in. Through research on a couple of websites I came across a company that handled lease returns on my behalf. They gave me the same advice I found online and also tried to talk to Porsche Financial Services directly on my behalf. Nothing work and I had to return my car.

By hiring Get Your Car Back I could try to get my car back at auction if the negotiations fail. As I said it failed. Porsche would not negotiate with me on price and the dealership was not that helpful because there was some type of conflict of interest. I think the dealership had no incentive because they were not helpful at all. I will not mention any names because I was treated very well by the dealership for the 3 years I owned the car. I am guessing the part on the dealership.

The car went to auction at in Palm Beach - Manheim and Get Your Car Back represented me on my buy back. They got me into the auction and I was allowed see the car go through the line. I have a video of the whole event that I took on my iPhone. It was a very eye opening process for me. These auctions are like car supermarkets. With about 40-50 people looking at each car as it passed by and people online bidding on each car I was shocked.

Well my car came through the line and the price it started at was 42,500 and the car was bid up by me and 7 other people. The final price which I got my car for was 48,500 + the auction fee of 300 dollars and the $1,000.00 I paid to the company helping me and 450.00 to turn i the car at the end of lease I paid to PFS.

At the end of day I paid a little less than Kelly Blue Book but a lot less than what Porsche Financial Services wanted to charge me.

I am very happy with the final result. I feel like I should have not had to go through the stress and wonder why PFS would not work with me on price. I must say that some things could have gone wrong with the Get Your Car Back option through auction but it was a risk worth taking.

Hope this helps anyone ending a car lease.

Get Your Car Back
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DO YOUR OWN RESEARCH before using them. I just happen to come across these guys. I HAVE NO AFFLIATION/EXPERIENCE with them and neither recommend or reject their services.

:beer:
 

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Given that there are other postings on the web for different cars (Like that Volvo) where the owner just happened to have the same exact experience verbatim, it sounds more like a scam to me or at least someone doing some false advertising. I would be very wary of this, get a contract in writing!
 

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I have a leased Cayman S. While my lease turn in is not for another 20 months, I was researching my options and came across this posting. I thought it is probably worth sharing.

------Posting Found on GermanAutoForums.com----------------------
Trying to negotiating with Porsche Financial Services on an end of lease option was very difficult. My buyout option on my 911 S was $63,243 and Kelly Blue Book says that the car is worth around 50,000.

Porsche, the dealership & me could not come to an agreement on price. So what I did was turn the car in. Through research on a couple of websites I came across a company that handled lease returns on my behalf. They gave me the same advice I found online and also tried to talk to Porsche Financial Services directly on my behalf. Nothing work and I had to return my car.

By hiring Get Your Car Back I could try to get my car back at auction if the negotiations fail. As I said it failed. Porsche would not negotiate with me on price and the dealership was not that helpful because there was some type of conflict of interest. I think the dealership had no incentive because they were not helpful at all. I will not mention any names because I was treated very well by the dealership for the 3 years I owned the car. I am guessing the part on the dealership.

The car went to auction at in Palm Beach - Manheim and Get Your Car Back represented me on my buy back. They got me into the auction and I was allowed see the car go through the line. I have a video of the whole event that I took on my iPhone. It was a very eye opening process for me. These auctions are like car supermarkets. With about 40-50 people looking at each car as it passed by and people online bidding on each car I was shocked.

Well my car came through the line and the price it started at was 42,500 and the car was bid up by me and 7 other people. The final price which I got my car for was 48,500 + the auction fee of 300 dollars and the $1,000.00 I paid to the company helping me and 450.00 to turn i the car at the end of lease I paid to PFS.

At the end of day I paid a little less than Kelly Blue Book but a lot less than what Porsche Financial Services wanted to charge me.

I am very happy with the final result. I feel like I should have not had to go through the stress and wonder why PFS would not work with me on price. I must say that some things could have gone wrong with the Get Your Car Back option through auction but it was a risk worth taking.

Hope this helps anyone ending a car lease.

Get Your Car Back
-------------------------------------------------------------------------------------------------------------------------------------------------------------------

DO YOUR OWN RESEARCH before using them. I just happen to come across these guys. I HAVE NO AFFLIATION/EXPERIENCE with them and neither recommend or reject their services.

:beer:
OriCayman,

Thank you for sharing such valuable information. I have also tried to buy automobiles from various financial institutions. Unfortunately, you already had a contract with Porsche (your initial lease contract). It's seems rather odd that the original poster was willing to buy the car and perhaps save the financial institutions a few dollars and a few hassles. But there is more...

According to the original poster's experience, PFS should have lost $14743 (your buyout price of $63243 - auction price of $48500 = $14743). But I don't think they lost one penny. One financial institution told me that their cars are insured through Llyod's of London. Therefore, whatever they get at the auction (minus what you paid it down to) the insurance company makes up the difference.

Here's another way to look at it. PFS got $48500 plus all of your lease payments plus the turn in fee of $450. I wonder what the monthly lease payments were? Add those numbers up. That's quite a profit.

Imagine the lease payment if the residual was $48500. It would have added $409 to the monthly payment.

Hypothetically, the dealer would pay $48500 (plus fees) and then retail the car on their lot for nearly $58500. A nice $10000 profit.

You said the 911 was worth approximately $50000. KBB provides four prices: Trade-In, Private Party, Suggested Retail and now, Certified Pre-Owned. Wonder what was the $50,000 based on?

Just to give you an idea of KBB for a 2007 911 with minimal options. TI - $45k, PP - $48k, Retail - $53k, and CPO - $55k. This is just an example. You can see in this example that a dealer would give the owner $45k and sell it for $10k more.

Sorry about all the numbers - but thanks again for the great information.

Obviously there is a company out there who looks at all auction prices to determine current residual values for a three year lease on 2010 models. Would love to know their strategy and methodology.

Curious to know the condition of the car as it went through the process? Additional miles? Was the dealer there bidding on it? Was there an opt out if you could not get the car at a agreed upon price?

Again, thanks for sharing.

Semper Fi
 
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