Guys,

I have recently fell in love with the Cayman S and am working on the last leftover '07 on the lot. Basically, i am looking at leasing the Cayman S. The MSRP is 62k and some change and they are offering it up for $52k (10k off msrp).

I am putting down 8k with tax, tags, 1st and last payments. I am looking at leasing it over 3 yrs, 12k miles.

They are offering payments of $705/a month.

Should i jump on it?

Any opinions on the car itself?

 

For about $200 more a month, you can own that puppy...

 

payment seems high if you ask me. shouldnt the payment be 600/month?

 

Not too bad, you can haggle as the cars are not selling as well as 911s.
How is the car equipped?

 

Agreed, payments seem very high given they are discounting it to 52k. I would be looking at a payment under 600/mo personally.

I'll also add I'm never a fan of leasing cars.

 

I would just buy the car if I was going to put $8k down. The Cayman S sounds like a great car though, that was pretty much the only other car I was considering other than the Vette I ended up buying

 

Here is my situation and my thinking, please chime in:

1. My commute to work is about 10-12 mi each way (total of about 24 mi) and traffic free.

2. In most situations ive been in, I have always taken a loss in some sort of way on my cars and also dont want to go through the hassle of selling it when im done.

3. I dont plan on keeping the car for over 3-4 yrs as other priorities (kids) will be coming up.

4. The lower payments are more attractive to me

So, after haggling with the salesman, he has gotten my payments to $660/a month, 12k miles for a 3 yr lease term. Should I try getting the payments lower and how much?

Also, would it be beneficial to use a third party credit union of some sort to lower the price?

 

Basically its a 07 S with the Blose and Xenons. Nothing else really..

I read one of your previous threads on the car, why dont you jump on one?

It is by far, the funnest, nicest ride i have ever driven by far!

NO SUBSTITUTE

 

Why so much cash down on a lease? So over all more like $860\month on a 52k car?

 

You should take a look at the BMW M roadster/ coupe. It is a direct competitor to the Cayman S and drives incredible to boot.
The M will actually cost you a tad less to lease & includes free scheduled maintainence for 4yrs/50k unlike Porshe. Something to consider. Good luck.

 

Another consideration is the insurance costs. The M Coupe/roadster insurance might well be more than that for the Cayman. I have no experience shopping for Cayman insurance but a few years back when I was considering an M3, M coupe, and 911 among others, I was shocked to find the M3 insurance quotes were almost double the 911 quotes despite the 911 being more expensive.

 

i still think that the payment is high....personally i wouldnt put cash down on a lease. i think at the 52k...no money down you should be around 660/month. ask for a tax credit! for the amt of money you are putting you can find something better....not that this isnt a great vehicle!!!

i lease the S4 and that was around 55k and put no money down and was 640 per month with 22k miles per year. i know they are not comparable but in some ways they are...hope this helps. i also got the S4 at the end of the season like you would get this one....they are hiding a lot of profit somewhere!

 

$0 down on a $52k car and only $640/a month payments!!! What am I doing wrong? The 8k down included taxes, tags and 1st/last payment..

Does anyone know what options a buyer has at the end of a lease, and how do you calculate the payments/terms?

 

at the end you can turn in the car or purchase it...watch as some have turn in fees and stuff. i think BMW you pay to turn the car back in. i personally trade them in about 2 1/2 years into the lease and wash out so i really dont keep them to find out. i was paying for miles in the early ones and have stopped since i dont keep the car. i leased the Lexus and just had the 15k miles.

on all my lease cars i have not once paid taxes on them so that adds up!!! so if you keep the 8k and can get the payment around 660/month i think you are doing okay. even if you are around 680/month. the residual of the car and the factor (rate) they are using has a lot to do with this. i saw someone posted a link on here for a breakdown on lease payments. i have never used it. i have a friend who owns an Acura and Lexus dealer and they showed me how the stuff works so i was fortuate. i think you just need to push them more and really it boils down to are you happy with the deal and does it make sense to you....

 

Whats the residual currently? Earlier in the year it was 61% on 36 10k. Subtract 1 or 2% for a 12k perhaps. I'm assuming with $8000 total out the door, the cap reduction cost is about $5000? Whats the money factor they are giving you? Basically from what I see you are paying for about 55% of the $52,000 selling price over the term when you should be paying 40% + interest. The interest built in should not make up that other 15%.