sgroer

Should be interesting to see what these 20 lemon law cars go for at auction. I'm guessing around $100k each.

CAlexio

Just dealers attending right? Will be even more interesting to see how much they Mark these up

hf1

Anyone here put in a bid for one of these through their dealer?

sgroer

Just dealers, but I believe the prices will be available to see.

Jimmy-D

Has any one confirmed that these, will indeed, be branded as lemons?

It will be interesting how many end up in individual homes for recreational use rather than to Companies offering track sessions or to people who will gut them and make them more hardcore for non street use

sgroer

Yes - they are lemons. I looked at Manheim and the notes for each car indicate branded title.

carcommander

which Manheim?

carcommander

If its Manheim it could be any kind of dealer not necessarily a Porsche dealer.

sgroer

The cars are at two places - Atlanta or Riverside (CA) Manheim facilities. THe Manheim site indicates you have to be a Porsche dealer to bid on the auction and that it's a "closed sale"

carcommander

Makes sense. I bet closer to MSRP than 100K. I bet they do for 120K or so.

Hothonda

If financing is required, how does a lender and/or one's insurance company view new cars that are title branded as lemons?

THX

Mike in CA

If it's a closed "dealer's only" sale I'd expect prices to be relatively low, certainly less than the wholesale dealers would normally pay PCNA for a new car. What dealers turn around and sell the cars for is another issue....

sgroer

It depends entirely on the lender and insurance company. But i believe a buyback is a buyback in their eyes and even though this is identical to a cat C car mechanically, there will be challenges. I suspect there would be larger issues with lending vs. insurance.

sgroer

Bidding is starting shortly - I am able to see it... through a "friend of a friend"

hf1

The margin of the retail price over the auction price shouldn't be that different from any used car bought in an auction by a dealer and sold to retail. There are enough dealers with the same intention in mind and I see no reason why the market wouldn't be close to efficient and the profit margin close to standard.