Is it a good deal or not?!

 

the deal is fair enough-a few things-that $599 fee is built in profit-i would get rid of it-there is no bank fee on a loan-even for a motor vehicle fee, it is high. you are getting about 6 grand off the price-that is a pretty good deal-if the economy was good, i would say it was a very good deal, but in this economy, you could do better, but let's be frank-if the deal is happening by your house and the car is exactly what you want, fighting for 2 more grand might just not be worth it, as the car is over 80 grand, and after enjoying it for years, the 2 thousand extra that you get off isn't so gigantic. let me tell you, you can always do better-it just depends on how important it is in the big picture to you-it is a good deal, but it could be better. there is no absolute here. 2 suggestions. the interest that they quote you is not bad, but they probably buy the loan for about 5-5 1/2%-there is a credit union named pentagon federal-many board members on here and rennlist have used them (search these boards for positive reviews on them) they will lend you money now for about 4.75% , i believe-and they will finance 100%, i think. either let them save you money on the loan and do it with them, or tell the dealer that you are going to finance it with them-i bet he will give you financing for 1/2% less-they want to make money on the back end of the deal and keep the financing in-house. if you lease it, never put money down, except for inceptions, on lease. it just never makes sense to put money into a lease. i bet you could lease it 0 down 36-39 months for about $1150/month, hopefully with tax included. hope this helps.

 

Interesting perspectives all. FWIW:
1. Porsche ownership is a long-term relationship. I would prefer the exact car, the dealer and experience over the lowest price (BTW, my recent one was purchased at a distance, pre-owned and though it worked out, next time I'll take my own advice. I had no idea it would be such a positive experience and next time will optimize differently)
2. In the context of the total outlay, IMHO the savings being discussed are at the margin. So, though I respect the priorities of the original poster, these are small amounts saved for potentially burning a lot of ones personal time;
3. I am very certain that things in the economy will be far worse before they are better. Though Porsche is not like Lexus and others, even our beloved sports cars are discretionary purchases, and these will continue to dwindle over the next 6-12 months. There will be increasing need to move the cars - into a strong economic headwind and I have to believe that the dealers will need to cover their costs.
4. Thus time is your friend and it will be increasingly a buyers market. If you need/want it now, go for it. They're great cars and I respect it. But if you can find your way to delay - to end of March, end of June, then you will be advantaged.

 

wasn't part of the whole premise with buying right now that you will get a good discount? dealer's not willing to lower the purchase price. that's not what you wanted.

am i missing something here?
i don't see you putting down $6,000 as a 'good' deal.

NINJA EDIT: just realized there is a 6k discount attached to the quote! effing sales tax!!! if you already offered to give them $6,000 up front, what happens if you still hold strong until you hit the 10% everyone seems to believe achievable? They don't want to loose that 6k!

 

http://www.iht.com/articles/2006/02/...berg/bxcar.php

 

You make very good points except for the above statement. Porsche's seem to be flipped more often than any other car I've ever seen. A happy result of wealthy purchasers who don't bother getting a loan for the car, a willing 2nd hand clientele (most of us) who see the amazing value created by initial depretiation, and Porsche's penchant for bringing out fresh product almost yearly, which always supercedes the older product.

 

This echoes my sentiment . If a person leases an 83K car (76K after discounts) and adds the the total payments it's almost 50 grand and then he turns the car in and has nothing . Porsche leasing has always presented this high cost to drive the dream .

If one is trying to save he can look at the used market where the first owner took the largest depreciation .

I love these cars but I can't see going into debt to buy one . Even financing this 83K car by the time he pays it off it costs him 97 grand and the car is worth 40?

I can see buying an 08 leftover at a huge discount , plunking down as much as one can and financing the rest . I can see buying a used car. I can even see buying a new car if one can hedge the cost with a large down payment .

I have always bought all my cars outright . Even plunking the full monte I do incur a loss but I can not fathom increasing that loss especially with less of a financial base to back it.

 

this is the reasoning used by people who are in the market for $100k+ cars. But this only applies to an outright purchase/financing scenario.

but the other side of the coin is that a lease keeps you from assuming ANY risk for a depretiating asset. pay for the part that you use, and let the dealer keep the entire risk.

my next porsche is likely to be leased. i bought my car and i regret having any capital tied into it.

 

On a lease those risks are priced in . Some find peace of mind with the lower monthly payment and difference of commitment to the car .

For me
An 83K car = 83K
An 83K car leased = 36 payments .

I want to have no restictions on my miles or being told to fix something on their car before returning it . The day I drive off the lot I want my fiancial arrangement to be over .

The rates at Porsche are very high . The largest amount of Porsche buyers remorse that I have seen is with those leasing a Turbo . That 2500 a month payment gets very old , very fast .

No matter how much money one has --we all want to drive the car for free.

 

I just got an AMAZING quote from a dealer that isn't local(florida). I am sending it out to my local dealers to see if they can match it. I hope one of my local dealers can match it, but I am not counting on it. If my local dealers aren't able to match it, I will be ordering the car up north! Check it out!

 

 

Maybe someone else can advise on this. I have never bought a car this way . If you order the car you have to leave a deposit and now your deal becomes a three month adventure . What if they dangle you for months with excuses ? What if some other guy offers them 1000 bucks more and they sell your car from under you to him having to re order it? What if you find a better deal in the interim ? How easy would it be to get your deposit back?

To me there comes a point where the stress exceeds the savings . Maybe that's just my style .

My feeling is that if you can pin that dealership to a car they have in stock to an abolute figure , fly up and lease .. then let me be the first to say congrats . But the flip side of waiting months with an out of state deposit on a car which isn't on the lot leaves me with uncertainty..

 

My parents have always ordered there cars. You make a deal with the dealership, give them deposit,order the the exactly how you want it, and the just wait till the car comes in. Once the cars comes in, the dealers calls you then you come in sign a few final papers and off you go!

You can't lose the a car you ordered. You have a contract with the dealership...

 

I know many who order cars but they usually do it with a dealership whom they have had experience with and who they trust . Once that deposit is given the buyer exposes himself regardless of a contract .

The price DOES look AMAZING . Best wishes with the car .

 

is that a car in stock or incoming, or an order? regardless, if that is a porsche dealer, and that is either a car in stock/in bound or an order for which they have an allocation, i would take it-that is one hell of a deal. i agree with you-if you give them a deposit, and you get a signed order from them, they can't sell the car out from under you. i disagree with yrallis-i am sure that he is a fine gentleman, but he seems to be against any deal that does not come from his local porsche dealer. there are many authorized dealers in this country that are a pleasure to deal with-i did not buy my 09 turbo from a next door dealer, and had never done business with them before, and with the trade in, saved almost $10,000 over what the local guy wanted to give me. i didn't do as well as you are doing on the purchase price, but times are different than when i bought in september. in summary, your deal sounds superior-you have obviously done your homework-congratulations.