Porsche Boxster Porsche's smallest and least expensive sports car model,the Boxster is a convertible sports car released in late 1996.

Need Lease Advice

  #1  
Old 02-17-2010, 04:02 PM
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Default Need Lease Advice

3 years ago I leased a Boxster. I love my car and I am 2 months from the end of my lease. I got a call from Porsche Financial Services a couple of weeks ago and they gave me 3 options.

The first is to buy back my car for $40,000, the second was to extend my lease by 6 months with the same payments, the final was to return the car and get an end of lease inspection.

I love my Porsche and I have taken great care of it. I went online to find out how much the Boxster is worth. It has a trade in value of $35,000 which is significantly lower than the retail value on my same make and model.

http://www.motortrend.com/cars/2007/...ing/index.html

My mind wants to return the vehicle back to the dealer but I really want to keep this car. Does anyone have any suggestions on what to say to Financial Services to lower the residual value or buyout value?
 
  #2  
Old 02-19-2010, 08:32 PM
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Tell them you will return the car. They may try to play games with condition and assessment at the end -- be hardnosed there. And $5000 is $5000 and there are alot of other well cared for Porsches out there. Generally, Porsche will not negotiate with you on the price (i.e., they will not cave on the $5K between the $40K buyt out price they gave you and its real market price right now). But try. From what I know, take it back and put it up for sale or auction at the real price $35k) so you might have a chance at it again.

Or you can just buy another one. I know you like your particular one, but when they came out of the factory they were all just alike and they still are a few years later: you'd love a new or other one just as much.
 
  #3  
Old 02-23-2010, 08:45 AM
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Default End of Lease Help

Originally Posted by Lee Willis View Post
Tell them you will return the car. They may try to play games with condition and assessment at the end -- be hardnosed there. And $5000 is $5000 and there are alot of other well cared for Porsches out there. Generally, Porsche will not negotiate with you on the price (i.e., they will not cave on the $5K between the $40K buyt out price they gave you and its real market price right now). But try. From what I know, take it back and put it up for sale or auction at the real price $35k) so you might have a chance at it again.

Or you can just buy another one. I know you like your particular one, but when they came out of the factory they were all just alike and they still are a few years later: you'd love a new or other one just as much.
This is great advice. I am going down to the dealership after work. There is a company called Get Your Car Back that helps people at the end of car leases. It has great advice / information. I have in the back of my mind the idea that the right person will know how to negotiate the buyout price down. Have you heard of this company?
 
  #4  
Old 02-23-2010, 07:19 PM
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I have not heard of this particular "get your car back" company.

But my advice is: pay them only if they help you actually get your car back. Don't pay them anything up front. Do some research. Think: negotiation is not that difficult. Not sure they can help you, franly, with anything you can't do yourself, but if they ask for money up front, well, that tells you where they are coming from.
 
  #5  
Old 02-26-2010, 11:56 AM
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Default Car Lease Help

Originally Posted by Lee Willis View Post
I have not heard of this particular "get your car back" company.

But my advice is: pay them only if they help you actually get your car back. Don't pay them anything up front. Do some research. Think: negotiation is not that difficult. Not sure they can help you, franly, with anything you can't do yourself, but if they ask for money up front, well, that tells you where they are coming from.
The price is $400 to help me negotiate the end of my lease. The guy did his own Porsche Carrera 911S last October (2009). I am going to pay him. The dealership wants $2,000 to go to auction for me on my car. This guy is only going to charge $400 to negotiate the end of my car lease and if that does not work then he will apply $200 from the end of car lease negotiation towards auction representation.

If it does not work I will pay him $800 to go to auction and buy my car at wholesale.
 
  #6  
Old 04-05-2010, 04:20 PM
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Get Your Car Back helped me buy my car back for wholesale price at auction and I did not have to deal with PFS. It was a great experience that I would recommend to everyone. These people are a great solution to those not looking to pay residual value for their cars.
 
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