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    997 lease terms

    Based on everyone's input, I took the 997 and 997s for test drives. I also brought someone from my office to "test" the rear seats. I have to say, the 997s is an amazing machine. The one I drove had the tiptronic transmission and it blows the BMW smg away. The ride in "non-sport" mode was very comfortable and my rear seat passenger found it to be fairly comfortable (she is only 5' 3"). So, based on that, I believe I am going to bite the bullet and see what kind of lease rates I am looking at. Does anyone have any experience? I am looking at a short term (24 month)/10k mile lease. The car is optioned out, with the sticker coming in just over 100k. I think it's a great car, but I do not want to pay an excessive lease payment. When I was looking at my Z8, I was offered 2k/month to lease (same terms as above), but I opted to purchase. Thanks again.

    Very low residual

    I just got a quote from me dealer for a lease for the car. In quoting terms, the dealer gave me 5k off of sticker (I have no previous relationship with the dealer), but the residual on the car is on 64% (on my 545 it is 76%). As a result, the lease payment would be as much for the 997s as it would have been for my Z8, which cost 40% more. I would consider purchasing, but I would really like the 997s cab and, if the residual is that low, I don't want to purchase new and take that much of a hit. Has anyone been able to get any better? Thanks.

    Re: Very low residual

    Ron -

    The word on the street is that 5-series aren't selling that well, so it's natural that BMWFS will offer attractive lease rates. That residual on the 545 isn't based in reality and therefore the lessee will benefit from a lower monthly payment.

    For a 3 year / 36,000 mile lease, I was quoted a residual of 58% and a money factor of .00210. I got $3,000 of sticker, and with options I chose, the sticker price of my base Carrera comes to about 71,500 USD. Includiing 6% sales tax, my monthly payment will be around $1,000.

    Personally, I think the residual on the Porsche may be a bit low (resulting in a slightly higher monthly payment). If that's the case, I may lease than buy it at the end of the term and either keep it, or try and flip for a small profit.

    Re: Very low residual

    Jason-

    Thank you for the input. The 545, however, is actually selling very well based on the latest sales reports from BMWNA--they are actually selling record numbers. I know there is a lot of controversy surrounding the styling, but the sales figures don't seem to reflect that. My local dealer, for example, has no 545's on the lot.

    The local Porsche dealership, however, has four 997's, two of which are 997s. I was looking at the 997s, sticker of 101k, I was offered 5k off with a money factor of .00380 and a 64% residual. That works out to a lease payment of close to $2200/mth for a 24 mth/ 10k mile per year lease.

    In contrast, a couple of years ago, I was quoted 2k/mth for a lease on a Z8, a car that stickers for approximately 140k, much more than the 997s I am looking at. At that time, the Z8 was a very in-demand car and sales of the complete model line were very strong.

    I do know that Porsche has a higher profit in each of its cars than any other car manufacturer (at least as reported by Fortune), so maybe the answer is to see how much I can negotiate off the sticker price and have them shop the money rate.

    Thanks again for your input. I absolutely love the car.

    Re: Very low residual

    Ron -

    The Roadfly.com leasing board has current 911 rates posted...hope the link works http://bimmer.roadfly.org/bmw/forums/financing/5831777-1.html You may have to shop for rates, esp. on a 2-year lease.

    Good luck, I personally love the 545, and may try to get out of my wife's X5 lease to get one! My sales comment was based on my friend who is the sales manager of our local BMW dealership...maybe sales are weak here in the Northeast only.

    Re: Very low residual

    Jason-

    Thank you so much. The link did work and it actually quoted me an amazing rate for the 997s. I am curious if there are any additional fees not known at this time, but I will pursue it. Thanks again, you have been a great help. The only problem is that if I end up with the 997s, I have to figure out how to get out of my 545 lease

    Re: Very low residual

    Hi guys,

    since I am not a US resident I am curious about the leasing terms. Is the calculation based on a residual- or mileage-leasing?

    I am quite surprised about the low residual on the Carrera since they seemed to have quite low depreciation in any country!

    Re: Very low residual

    Ron -
    You're very welcome. Ironically, I'm trying to get out of my wife's X5 4.4i lease, and into a 530 or 545! She doesn't like driving an SUV despite the greater ride height and visibility...

    Regarding fees, my friend (who works for the BMW dealership) hooked me up with their sister Porsche dealership. While I was out on a test drive in the 997, he ran some lease numbers for me...I'll pull my file later and see what additional fees there are (if any). I do believe there was the typical acquisition fee....

    Ferdie -

    The typical lease is calculated on two things. The first is the amount the vehicle will depreciate during the lease term. The greater the depreciation, the greater the payment. In effect, you are paying only for what you use, akin to a rental.

    The second element is a "money factor" which is the interest rate the leasing company will charge you for the privilege of leasing the vehicle. It's usually quoted in terms like .00210. If you multiply that figure by 2400, you get the APR (5.04%).

    Add the two together, add taxes and viola! There's your lease payment.

    Re: Very low residual

    Quote:
    JasonF said:
    Add the two together, add taxes and viola ! There's your lease payment.



    How come they charge you for a musical instrument when you're leasing a car?!

    Only kidding! I know enough French to realise what you really meant!

    Re: Very low residual

    Jason,

    thanks for the kind explanation but I wondered if there are more extraordinary ways of leasing in the US.

    I suspect it will be even more of an issue in several countries in the future since those could be ways to aid sales without sacrificing profit (unlike the path GM and the likes are following right now...).

    Greetings!

    Re: Very low residual

    FYI, my (Porsche) lease payment on a 997S (from Paul Miller) with a $93K sticker is $1,567 (or thereabouts - I don't have the paperwork at home)for 36 months/15K miles.

    Re: Very low residual

    Thank you, pnoble. I appreciate the information. I also sent you a pm with a couple of more questions. Thanks again.

    Re: Very low residual

    Hi Ferdie -

    There's a great website that lets you price leased cars for the U.S. market...www.leasecompare.com

     
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