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Discussion summary
YOUR RESEARCHEnd Lease Now?
Leading reported evidence
Repair car in the future
Suggestion or failed attempt
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Read evidence and context
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Suggestion
if this value is more than what you think that it might cost to repair your car in the future, then keep the car.
Leading evidence: 'Repair car in the future' (no explicit attributable resolution; this is a reported action or suggestion). Across 1 matching discussions, The most frequently discussed action is 'Repair car in the future' (1 discussions). For that action, 0 discussions report a resolution and 0 report an unsuccessful attempt. No action has an explicit, attributable resolution report under the current rules. These are forum reports and suggestions, not a confirmed diagnosis.
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Suggestion
rob-i don't think that most people are telling you to pay the 12 k out of equity and get a new car-if it was me, i would continue my lease and not pay the extra 12k-911's have been pretty reliable, and i doubt that you are going to run into 12k of repair costs.
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Suggestion
Those two combined may be more than the cost of a leak repair, especially if you can get Porsche to subsidize
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Suggestion
rob-i don't think that most people are telling you to pay the 12 k out of equity and get a new car-if it was me, i would continue my lease and not pay the extra 12k-911's have been pretty reliable, and i doubt that you are going to run into 12k of repair costs.
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Suggestion
rob-i don't think that most people are telling you to pay the 12 k out of equity and get a new car-if it was me, i would continue my lease and not pay the extra 12k-911's have been pretty reliable, and i doubt that you are going to run into 12k of repair costs.
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Suggestion
rob-i don't think that most people are telling you to pay the 12 k out of equity and get a new car-if it was me, i would continue my lease and not pay the extra 12k-911's have been pretty reliable, and i doubt that you are going to run into 12k of repair costs.
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14 eligible posts · 0 unverified posts · 1 discussions match the subject in their title or opening post.
Rennlist: 1 discussions
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My 2001 C4 is currently running up against it's 50K mile warranty limit. So I have a few options:
1) Get an extended warranty for the remainder of the lease
2) Pay to get out of the lease and take advantage of some left over 2003
3) Ride out the lease and take my chances
Anyone have any thoughts on this?
Thanks!
Rob
Ride it out. Early withdrawel can cost money and credit rating. Those two combined may be more than the cost of a leak repair, especially if you can get Porsche to subsidize
riad-simple answer-see what it will cost to get out of your lease (buyout minus trade in value). if this value is more than what you think that it might cost to repair your car in the future, then keep the car. if is less, then consider trading in the car. i assume that you will be so upside down, that you will keep the car. even if you get a screeming deal on an 03, remember that it is because that is what the 03 is worth. and paying off the lease will not hurt your credit rating, it can only help it. he might mean defaulting on it.
i would talk to your dealer
these guys may be eager to move product so they may "eat" some negative equity (if you have any) to move left over '03's. and if you are even close to breaking even they will usually work with you
not a bad idea, jbdmd, but any negative equity that they "eat" will go right back into the new deal. if they eat 5k upside down, they will add it to the price of the 03-remember, they are not in business to lose money.
I'm looking at a straight payoff of the lease - about 12K. Because my car has 50K miles on it the book value is about as much as a ham sandwich.
If I can get a really good deal on an '03, that's about 12K off msrp (just to make the math easy here) then we're talking about 12K out of lease, 10K down on the new car (i'm buying this time) and for 22K I get a left over with almost no miles on it.
The only reason I wouldn't keep my current C4 and just buy a new one is the insurance. I would have to fully insure two cars, and because I would never drive the 01 it would just collect dust.... Of course I could 'hold' it for two months or so to offset the outlay in cash - 10K now, then two months from now about another 10K, spread it out a little.
Seems like most people feel that, either way, getting the 03 is the answer here.... interesting.
Rob
rob-i don't think that most people are telling you to pay the 12 k out of equity and get a new car-if it was me, i would continue my lease and not pay the extra 12k-911's have been pretty reliable, and i doubt that you are going to run into 12k of repair costs. the only way that i would break the lease is that if i were so loaded, that i didn't care about the money. that's not my situation.
riad
how much to extend your warranty?
how much time left in your lease?
porsche told me to extend was ~2800 bucks...that sound right?
the reassurance of a warranty can be as good as a new car!
The 2800 bucks for an extended warrany sounds about right. So, I have another 11 months left on the lease. I have 50K miles on the car so I'll be paying .15/mile on it starting now. I'm putting 2000 miles/month on the car so it will cost me about $3,300 in extra miles plus the monthly payments.
So to keep the car I'm looking at $6,100 out of pocket for a lease.
If I get rid of the car now I could put that money into a new car that I own... if I wasn't hitting my mileage limit I most likely wouldn't be doing this. The car has been pretty reliable, however, if something does go wrong it goes wrong at a big cost.
Rob
One option might be to put the car on swapalease.com and see if someone is willing to assume the lease. If your mileage overage is 15 cents per mile you can pay the buyer an incentive of $1,650 if they assume the lease. This would allow them to drive 1,000 miles per month without paying a penalty.
I have had the lease assumed on three vehicles and it works well. They key is that you need to start with a reasonable monthly payment.
You are far better of going after your new car without the baggage of the 2000.
