Hi all,

I'm looking for some insight on how much a new Boxster lease will run me. What should I expect to pay for a $60k msrp Boxster on typical lease terms? (24/30/36 mon, 10-12k miles per year, etc.) I am flexible on the money down.

Thanks in advance!

 

Anyone?

 

Why would you put any money down on a lease? For reference, I leased my Boxster S (sticker was almost $74K) this past July and am paying $1045/month, which includes the clear bra and wheel and tire hazard insurance. The lease is for 27 months.

 

Pretty good deal^

 

1045 is a killer deal..it depends on how the car is equipped, whether it is a stick or pdk, how many miles a year you need and whether or not you put taxes down. This will make your payments range anywhere between 800-1000 a month.

 

5k/year, 6-speed, Chrono, 19" wheels, 14-way seats...in addition to one of my preferred colours (Platinum Silver), it was a deal too good to pass up for a weekend car.

 

Ask the dealer for the capitalized cost, the lease rate or money factor, msrp, and residual or lease end value, and term, and you can determine the exact payment and discount. I doubt the dealer gives you the invoice price, but you don't need that to determine the value of the deal. The difference between the cap cost and the MSRP is your discount. Remember to properly calculate any incentives, as they are probably part of the cap cost, so you have to back them out to get to the real discount. The cap cost, lease rate or money factor, msrp and residual and term are all things the dealer must declare to you before you sign a contract. Normally they only want to disclose this until you have agreed to buy it and are now sitting in front of the finance manager.

 

The best deal I got on a base boxster was 3 months ago so I am not sure the residuals are the same. Mine was 7,500 miles a year 2,500 out of pocket with a monthly payment of 417 for 27 months. Ended up passing on it but that's the best I have seen so far. Msrp was 57,000 for reference.

 

Typically residuals change every quarter. $2,500 down and 417 sounds like a good deal. Not so sure I like the 7500 miles per year.

 

This is merely “For Example” – plug in your own values…
Take the Cap Cost (selling price) = $ 26,915.00

Subtract the Residual (55%) = $ 14,803.25
Remainder = $ 12,111.75

Now, take the remainder ($12,111.75) and divide by the Term, or length, of the lease…$12,111.75 divided by, say, 36 (months) = $336.44.

Next, add together the Cap Cost plus the Residual, $26,915.00 + $14,803.25 = $41,718.25.

Multiply by the Money Factor, always a ".00xxx" number. If they don't tell you the Money Factor, get the interest rate and divide by 24 (24 is always a constant). If interest is 6%, then divide by 24 to get .25, then put it after the .00 to get the Money Factor. Now we have .0025 as our Money Factor.

Take the above mentioned $41,718.25 x .0025 to get $104.30.

Add the $104.30 + $336.44 and get $440.74. Figure sales tax ($440.74 x 7% = $467.18) and this is your monthly lease payment.


The money factor is used to figure out the interest rate on a car’s lease. Multiply that number by 2,400 to get the interest rate. So, with a .003 money factor, the interest rate is 7.2%. The residual value is the estimated value of the vehicle at the end of the lease term. Typically, you can purchase the vehicle at its residual value when the lease is up. (The industry’s bible for residual values is the Automotive Lease Guide’s Residual Percentage Guide; the figures can be on the low end and finance companies use this as a guide for setting prices.) Capitalized cost is the total amount that you’re financing, including the negotiated price of the car, all its options, fees and taxes; it should be under the manufacturer’s suggested retail price (MSRP). Finally, capitalized cost reduction is the amount of money you give to the dealer upfront, like a down payment, which is usually negotiable. Consumers should focus on getting a contract with the smallest money down and the lowest interest rate.

 

Something tells me that the $104 in interest a month for 36 months on a 12K loan is excessive. Keep in mind I am not a lay person when it comes to leasing payments and calculate them for work.

 

Note that third sentence where it says "For Example" and "plug in your own values".

I posted this to be helpful for folks who may need some assistance, such as the OP. It is an older posting that a good friend who was a General Manager of a BMW dealership gave to me.

 

Some cars make better candidates for leasing because of their high residual value.

 

Plus the manufacturers will play with the residual and money factor to move cars.

 

Thanks for all the responses I appreciate all the help... great payment guide Tinman. I really like this number if I could bump it to 10k miles per year.