PCNA GT3 Auction is at 4PM today
09-23-2014, 06:14 PM
#46
Rennlist Member
Yes, this is strange. I don't get it, unless we are incorrectly assuming the lemon title. In most states I believe the buyer must initiate the lemon law process. Maybe Porsche avoided this by simply buying back the cars and the titles will be clear with the exception of the buyback. That is the only way this makes sense to me.
09-23-2014, 06:16 PM
#47
I think those cars' titles will be "laundered" before they get sold to the public. What I have been told on a manufacturer's buy back titled vehicle is that once that car is sold for a second time, it reverts to a regular title. I doubt any regular consumer will get one of those at a bargain price.
09-23-2014, 06:16 PM
#48
Rennlist Member
Thread Starter
Yes, this is strange. I don't get it, unless we are incorrectly assuming the lemon title. In most states I believe the buyer must initiate the lemon law process. Maybe Porsche avoided this by simply buying back the cars and the titles will be clear with the exception of the buyback. That is the only way this makes sense to me.
09-23-2014, 06:17 PM
#49
Rennlist Member
09-23-2014, 06:19 PM
#50
Three Wheelin'
Dupe post in the 991 subforum: https://rennlist.com/forums/991/8355...r-auction.html
Would be awesome if someone could pull all the VIN's and dump them here for tracking purposes.
Would be awesome if someone could pull all the VIN's and dump them here for tracking purposes.
09-23-2014, 06:19 PM
#51
Race Director
No dealer was allowed to buy more than 3 cars. So that certainly is another dynamic.
I also have to believe the dealers did some homework on this and were comfortable buying lemon cars at basically no discount , even in the presence of what seems to be significant open allocations.
I also have to believe the dealers did some homework on this and were comfortable buying lemon cars at basically no discount , even in the presence of what seems to be significant open allocations.
If what I was told was true, it might explain the incredibly high prices brought by these cars. I'm at a loss to understand how cars with lemon titles could otherwise basically sell at retail prices, especially given your point about open allocations still being available.
09-23-2014, 06:23 PM
#53
Rennlist Member
Much appreciated!
09-23-2014, 06:27 PM
#54
Race Director
Sgroer-thanks for doing this and very appreciated
I do not think it is fair to release the VINs
I am very happy what they sold for and can not edit to get him later this evening from business travel and take her for a spirited drive.
I do not think it is fair to release the VINs
I am very happy what they sold for and can not edit to get him later this evening from business travel and take her for a spirited drive.
09-23-2014, 06:27 PM
#55
Three Wheelin'
Is it absolutely assured that these cars will still have branded titles after this sale? I don't know much about the process but I was told early on by someone in the business that the buy back cars would go to auction and that the titles would essentially be laundered by the transaction. He basically predicted what has indeed happened with regard to pricing, although honestly I didn't believe it at the time.
If what I was told was true, it might explain the incredibly high prices brought by these cars. I'm at a loss to understand how cars with lemon titles could otherwise basically sell at retail prices, especially given your point about open allocations still being available.
If what I was told was true, it might explain the incredibly high prices brought by these cars. I'm at a loss to understand how cars with lemon titles could otherwise basically sell at retail prices, especially given your point about open allocations still being available.
09-23-2014, 06:29 PM
#56
Not sure if someone else mentioned it but Porsche Finance announced they WILL lease and finance these lemons. Porsche also added a year of warranty on to the car. Not that bad but imo, why pay the exact same as you would for a non-lemon GT3?
09-23-2014, 06:31 PM
#58
Rennlist Member
While all states have lemon laws isn't it the case that not all states have Lemon branded titles? Would probably show up on an auto check or car fax however. Could simply be bought for overseas export too?
09-23-2014, 06:32 PM
#59
'Different agenda?" Like trying to make a fast back as the market climbs? Really, we are a bright bunch here. Who in their right mind who can afford these cars (and in theory is a pretty savvy person) would not do their homework before buying one of these? Unless you are buying for cash and need to finance, the bank runs these vins to make sure they are kosher. (mine die). I don't get it
09-23-2014, 06:34 PM
#60
Interesting thread. I can't imagine this is coincidental given this info, but I though you all would like to hear this. I received an email at 4:46 PM today from one of the dealers I pinged last month looking for an allocation. This is the email in its entirety; "We just bought a 2014 GT3 Sapphire Blue. We will be asking 159,990. Thought you might be interested. I can forward the build sheet if interested." Not sure what the build looks like but the price they're asking has to be at least at MSRP or higher (given the range we've typically seen).