MY'24 GT4RS allocations have arrived. A few dealers I know only received a couple.

 

You mean in the last couple days?

 

yeah. Wednesday

 

Yeah, I had a few stores of mine get some as well.

 

I assume ADM's on the new allocations are still 60-75k or are stores going down?

 

As I understand it, dealers already knew the number of MY24 4RS cars they were getting (they knew this back in Nov)….they’re just now being ‘unlocked’ for ordering.

I was told I’m getting a MY24 a while ago, and I’ve just been waiting for the configurator switchover, which finally happened. My SA said all their slots are basically presold, and that he just has an available landed PTS car at $50k that’s MY23 so avoids the crazy price increase I’ll have to pay lol

 

I understood dealers just got expected numbers till the end of 2023 in Nov 2022.
They don’t yet have numbers for calendar year 2024. I’m talking dates. Not MY

 

The dealers in Australia received in Nov 2022 the possible build allocation slots for the first 6 months of 2023. (my dealer, 3 allocations for the 6 months) They are not expecting their next allocations slots till May 2023 and they will be MY24 vehicles at the $A24900 increase in base price and an increased dealer delivery fees. I assume Porsche America receives similar build lots from Porsche Germany?

 

Production will be far less than most anticipate. The economic climate probably will echo what happened to the 964RS in 1992-94 and the Carrera GT in 2007 with both magnificent cars being hard to get off dealer lots. Today the prices of these icons skyrockets, and the same will happen to the GT4RS. The worse economic climate and the worse short term depreciation, the better for long term owners of these cars, iconic from the get go.

Don’t be a whimp about residuals and man up! Those who don’t will be sorry for sure!

 

I would like to remind people 2018-2019. These adms we see now were very familiar story. GT3RS was an easy 100k ADM and people thought it was the “last 4.0 liter N/A” and shelled out money. Then economy tanked, and it actually tanked some more.

Here is an actual data point. My back then brand new 991.2 GT3RS was bought for 125k over MSRP @ almost $350,000 by someone in CA. He sold the car to a Porsche dealer @ $65,000 over msrp after 1 month of ownership. 1 year the car sat with this dealership and I bought it with 300 miles on the odometer for $30,000 under msrp with CPO, maintenance, transport all included in the price. So the spread of the new car to the price I paid was $155,000. This is a tough pill to swallow.

So what did we learn from this?

1) Even in amazing times, when you buy a car with ADM, you will not be able to sell the car above that ADM. If you are paying $75,000 over right now for GT4RS, understand that in 1 month you will get $35,000-$40,000 less for it.

2) When recession comes (and it will eventually come) and rates are at 8% for auto loans so your GT4RS loan has a $50,000 finance charge spread across 5 years, you will have extremely tough time selling the car.

And as much as you say “its a keeper”, you know it, I know it, everyone here knows it, you will eventually sell it one day. What matters is to buy it when its low and sell it when its high.

I paid $190k for a $222k car that right now is worth $245k even with 12,500 miles and 3 years of ownership. That was smart. Buying a car with last year’s markup numbers now is so stupid. I see these cars listed for $70-125k over and oh boy will people be shocked when they try to sell this car.

 

Honestly, IF they give out any more allocations for H2 this year......I'm supposed to be getting one from my dealer.....after this absurd price hike...I think I'm out. ****ing wish I had taken a GT3 allocation at this point when I could have gotten one.

 

So what do you recommend?

1) Sell stocks to buy GT4RS, minimize stock loss as market crash is "coming".
2) Sell stocks and keep cash, let hyperinflation kill your dollar
3) Leave stocks, don't buy GT4RS and be sad while your net worth goes to zero while driving a Hyundai to work

Open to more ideas

 

lol

My plan is a Thelma and Louise ending in about 15 years. Only need so much money to do that. Simplifies everything.

 

What do I recommend? I recommend not doing this “life is too short, I have to have what I want to have when I want to have” mentality thats widespread in our modern western society. Its a car, its not the end of the world. I recommend trying to order a car at msrp or trying to trade a car you currently own over what you paid for to offset some of the markup and also take advantage of the tax write off. The worst you can do is to pay $75-80k ADM and then pay taxes on the full purchase. You are NEVER seeing that money again. If you took $300,000 today and invest (and I am not giving investment advice here). Even the dumbest person can return 7-8% and if you are not dumb, 12%. I would invest the money and wait for these suckers to start panicking and dropping the markups.

Every single one of my GT3RS drives I remember what a good deal I got. You know how people say “just buy the car, pay the markup, and the minute you turn the first corner driving the car you will forget it all”? Thats bull****. If I was the sucker that paid $125,000 over msrp on my GT3RS, I’d remember it every single day I owned that car. It would bother me. And this isnt because I cant afford it its because I hate being taken advantage of. And I hate making the guy who adds no value in the car business making a killing on my weakness (of I cant be patient and I have to have what I want to have).

The economy is a cycle. Tables will be turned (and is already turning). These cars are NOT worth $300,000. When the recession hits and everything freezes in car market, they are going to drop like rocks (some are already discounting the cars $10,000 every two weeks).

You have to be really stupid to buy a $300,000 car thats actually worth $200,000 and then pay $55,000 of interest on it. Your total cost basis is $355,000 but your asset is worth $200,000. Retarded, eh?

 

Well said. It makes you wonder how some of these people got the money they have with such bad business decisions.