You've probably seen my name pop up a few times in threads over the past 6 months as I have been actively looking for my first p-car and have been learning greatly from all of you during this time as I frequent the board.

I have come across a car, but wanted to run some numbers by you to get some feedback on whether you think firstly if its a good deal and secondly, if I should pursue the car.

I've been searching for an 09 4s cab for the past six months and everything has really been above my comfort zone in terms of price. Cars are still in the mid-80's and I've been looking for something in the low 70's and I've been willing to wait it out until prices get to that level (whether it takes 2 more months or 6 more months). I've always had the hope that the introduction of the 991 combined with winter months would drive down the prices, but I don't see that happening, even remotely. Now I'm skeptical of whether this will really happen. The 991 is quite a jump up in price from the 997 which may help to retain 997 value over the next few years.

Now to the car. I know someone who 'always needs the newest'. He has a leased 10' 4s cab with 17k miles. Car is FULLY loaded. PDK, Full Natural Brown Leather, Bose, Nav, heated & vent seats, XM, bluetooth, nav, cornering lights, Chrono Plus, heated steering wheel, etc. Original Sticker was $129. Now this person needs the 991, so he wants out of his lease that still has another year left on it.

He is willing to pay off the remainder of the lease up front and sell me the car for the buyout price, which he claims is $85k.

Question 1: Does this seem right for the buyout price?

Question 2: Bigger question. This sounds like a good deal, but I'm interested in hearing your feedback.

Question 3: Even bigger question. The dilemma. Even if this is a spectacular deal, it is a HUGE stretch from the $70k which was my original budget. Do I somehow make this happen, or do I pass it up without looking back and wait for a lower priced 09 4s cab?

I don't want this to become a stressful situation. Please help!

 

It sounds like you're stressed out already.... You've got to stay in your comfort zone. 15K is not an incidental amount.

 

Your holdin the cards, negotiate!

 

My 2c, do not stretch your budget, i am sure you have spend sometime working your budget number - I know I do on every purchase - keep to your number. Plus if this person has leased this car, he's likely to lease the 991 and I believe Porsche are currently waiving the last 12 months of a lease in exchange for a new lease or sale. So, I may be overly cautious but why would he go to the trouble of buying out the lease and then selling to you, unless he's a great friend and it's a great deal....which could be the case. Again, just my 2c.

 

How do you negotiate a buyout? Isn't that set in the contract?

 

I should have been clearer. He will make the remainder of the payments on the lease and I would take over the car for what the end of lease buyout would be a year from now.

 

I'm off to the dealership today to negotiate. I'll let you know how things turn out this evening.

 

Good luck.....hope it works out in your favor.

 

Did you see the $85k in writing?
The Actual documents from the original lease date?
That # is not negotiable for the guy who leased it.

 

You will not find an 09 4S Caby in the low 70's unless something is VERY wrong with it. $85k is a decent price for a car that retailed at $129k just a few years ago. My only concern is the 17k miles. Alot of it depends on how it was driven and maintained. I paid 85k even for my car with a retail at $124,980 sold at the end of 09 but mine only had 5700 miles and it is CPO'ed until 2016. Is this car cpo'ed? Most likely not coming from a private seller, I'm just saying getting a CPO vehicle can make the difference between sleeping at night or worrying about your car.

My 2 cents

 

Something is just not adding up right to me. If this was a 129 car, it was probably purchased for somewhere in the 120 range. Taking a conservative 65% residual, the end of lease buyout would be 78. Dealer is unwilling to share lease contract with me. I'm not moving on this unless I see the end of lease buyout number on writing.

The search continues...

Thank you to everyone who offered up advice on this car / situation.

 

Porsche is notorious for undervaluing their residuals. you'd be lucky if the residual was over 55... He wont share the residual bc its probably in the high 60's and he wants the delta.

 

The earlier advise should guide you: + $15k big. This '10 car maybe a bit overpriced @ $85k but it will bother your wallet. The cab / coupe issue only contributes slightly to the resale in a tough market.

 

Maybe I'm a little slow, but if the owner of this car is willing to pay off the lease he could just give the car back to Porsche ( or whomever holds the paper ) early and walk away and buy whatever he wants. Why is he bothering with all this ? Because the buyout price is a good deal lower than $ 85 K. Residual is figured on the sticker price, not the purchase price, so at 52% that makes the residual $ 67 K or so. I'm guessing the $85 get's him to breakeven on the deal.

As for the price I'll defer to those closer to the market values for this car.

As for the decision to buy or not, sounds too me that the car is well above your comfort level from a price standpoint. Not sure if you've looked into the costs of insurance but that should be another consideration when you look at the total cost of ownership. Add to that the fact that these cars are not inexpensive to maintain and you could be way out of your comfort zone .

 

Thank you all for your replies. I agree with everything that has been said. I'll move on and keep looking / waiting. I've been looking for six months. Hell, what's another 6 months? Hopefully sooner of course...