Has Porsche improved Money Factor rates on Macan EV recently? Here is why I ask:

[Station]

My Macan 4s is a few days away.

I'm on the email list for all of the Porsche deanships in my state, and 2 of them sent an email advertisement out last week suggesting Porsche Factory has done something to entice buyers.

The email states:

"Porsche has just enhanced lease rates across all Macan and Macan Electric models—making it easier than ever to drive the performance and luxury you love."

As someone who is taking delivery in the next 7-10 days on a car that is pending delivery to the dealership, I need to know about all programs prior to getting "sweat in the box". I have some numbers that are rough cut and basically what we have tentatively agreed upon, but if the dealership itself is getting some relief from the top, I'd like to also get some of that relief.

Anyone else getting these emails? I'll be calling one of them today and I'll see what I can dig up.

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[Station]

It is good to explore all the options. When we bought our Solterra several years ago, Subaru was offering 2.9 percent financing in the US. That is how we approached that car. Since the stock market has out performed that it was better to not pay all that money up front In that situation.
Porsche, on the other hand had about 7 percent financing which we decided not to use. I was also advised by my SA against the lease option, but that depends on how long you plan to keep the car and other aspects of the deal.
If you have a financial advisor, you may wish to talk about the options with them. Good luck finding what suits you best.

You misinterpreted my question. I don't need advice on whether to lease or finance.

My question is if anyone has info on Porsche possibly changing their abnormally high lease money factor. Currently PFS is doing 0.0035 on leases (which is high and equates to 8.4% when converted to an APR).

Has anyone heard anything about the specifics on the statement these dealerships are advertising:

"Porsche has just enhanced lease rates across all Macan and Macan Electric models.”

"Enhanced lease rates" is vague and could mean many things, but on the nose implies lower money factor. I would assume this email is being sent out from Porsche dealerships across the nation.

 

[sor]

Yeah this is a simple question. Usually someone has the inside track on dealer published rates for the given month.

 

[PSPJames]

This is what I just pulled from the lease calculator site I use. The rates are slightly lower.

 

[sor]

Thanks, I wonder if "rates" could also mean a residual change.

 

[PSPJames]

Here are the residuals. I think they are the same (they don't say "special.")

 

[sor]

Wow those are actually quite good residuals, especially for an EV.

 

[ColdCase]

Keep in mind, if its relevant to you, a single pay lease should give you a better MF.

 

[jwatte]

a single pay lease should give you a better MF

Single pay leases put all your money at risk in case there's any accident totaling the vehicle.

Your insurance, or the liability insurance of the other party, will only cover you so you don't owe anything on the vehicle, it will not keep you in the vehicle for the rest of the rental period. (And for you, this is only true if you get gap insurance, although with a single-pay, the vehicle is already at the end-of-lease residual value.)

Sometimes, if you're cash rich but credit-score-poor, a single pay lease might still make sense, but most of the time, they are too big an economic risk.

 

[tmrqs]

Single pay leases put all your money at risk in case there's any accident totaling the vehicle.

Your insurance, or the liability insurance of the other party, will only cover you so you don't owe anything on the vehicle, it will not keep you in the vehicle for the rest of the rental period. (And for you, this is only true if you get gap insurance, although with a single-pay, the vehicle is already at the end-of-lease residual value.)

Sometimes, if you're cash rich but credit-score-poor, a single pay lease might still make sense, but most of the time, they are too big an economic risk.

Unless you intend to buy the car, then it makes a lot of sense.

It was a sure way to 1) get the $7.5k EV credit while 2) lowering the cost of the lease for the couple months you’d let it run and 3) give you a chance to thoroughly test the car to confirm it wasn’t a lemon.

 

[jwatte]

Easy solution: roll everything into the lease and buy it out as soon as the registration shows up in your mailbox. Took me less than two weeks! (Then Porsche sat on the wire for five days because ... they felt like it?)

Yes, dealers like it if you pay the first three payments, because then they get a spiff, but they shouldn't have overcharged me for the 2-year prepaid service if they wanted me to do that ... (I didn't notice this part until after the deal was done. There's always something!)

 

[Station]

Agreed. If you are considering only leasing, this is a valid question and especially if you only plan to keep the car a short period of time. Generally speaking, financing a depreciating asset is not a great choice unless the company is incentivizing it in some way.
I hope Porsche decided to be competitive here, but they definitely have not been in the past.

Are you an AI?

 

[Station]

Not hardly. I’m just somebody that has very strong feelings about people wasting money on financing/leases that are not in their best interests.
A friend of mine really regretted his lease and I’ve never wanted one.
I would be just as happy to drop this particular thread considering you are looking for other POVs than mine. Good luck in whatever approach you decide to take.

Ok. Appreciate your life coaching.

I'll be just fine.

And you never read the initial post. I wasn't looking for any personal financial planning "points of view". The question was VERY specific

...the question was about PFS recently lowering the money factor from .0030 to .0035. Or lower even.

 

[Station]

Unless you intend to buy the car, then it makes a lot of sense.

It was a sure way to 1) get the $7.5k EV credit while 2) lowering the cost of the lease for the couple months you’d let it run and 3) give you a chance to thoroughly test the car to confirm it wasn’t a lemon.

I'll always lease luxury cars, and EV's embolden that mindset with the $7500 credit, technology changing by the hour, warranty, etc.

More importantly I've been hit badly 3 times in my life in leased cars. In my last GTS a lady rear ended me at a red light to the tune of $18,000 repair bill and two months in the shop.

I was glad it was a lease with only a few months remaining. The diminished value was immense and I had an automatic escape clause.

 

[nadkoolio]

Anyone else getting these emails? I'll be calling one of them today and I'll see what I can dig up.

Let us know if the dealer could confirm the rates of this thread.

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