2005 911S Turn in at lease or Sell?
 

Hi I have a 2005 911S seal grey, 6 speed. It is leased for me by company I work at. I only drove it summers so it has only 14k miles on it and is in excellant condition. Questions is there value selling before lease ends (jan 09) .. not even sure if that can be done. Or its not really worth it so just turn in. Buyout is I beleive $43k

Tom

Porsche 911 S - end of lease buy out
 

Trying to negotiating with Porsche Financial Services on an end of lease option was very difficult. My buyout option on my 911 S was $63,243 and Kelly Blue Book says that the car is worth around 50,000.

Porsche, the dealership & me could not come to an agreement on price. So what I did was turn the car in. Through research on a couple of websites I came across a company that handled lease returns on my behalf. They gave me the same advice I found online and also tried to talk to Porsche Financial Services directly on my behalf. Nothing work and I had to return my car.

By hiring Get Your Car Back I could try to get my car back at auction if the negotiations fail. As I said it failed. Porsche would not negotiate with me on price and the dealership was not that helpful because there was some type of conflict of interest. I think the dealership had no incentive because they were not helpful at all. I will not mention any names because I was treated very well by the dealership for the 3 years I owned the car. I am guessing the part on the dealership.

The car went to auction at in Palm Beach - Manheim and Get Your Car Back represented me on my buy back. They got me into the auction and I was allowed see the car go through the line. I have a video of the whole event that I took on my iPhone. It was a very eye opening process for me. These auctions are like car supermarkets. With about 40-50 people looking at each car as it passed by and people online bidding on each car I was shocked.

Well my car came through the line and the price it started at was 42,500 and the car was bid up by me and 7 other people. The final price which I got my car for was 48,500 + the auction fee of 300 dollars and the $1,000.00 I paid to the company helping me and 450.00 to turn i the car at the end of lease I paid to PFS.

At the end of day I paid a little less than Kelly Blue Book but a lot less than what Porsche Financial Services wanted to charge me.

I am very happy with the final result. I feel like I should have not had to go through the stress and wonder why PFS would not work with me on price. I must say that some things could have gone wrong with the Get Your Car Back option through auction but it was a risk worth taking.

Hope this helps anyone ending a car lease.