one reason is you have more protection buying from a dealer
despite the fact that we beat on dealers all day long here on RL , a lot of them are decent enough and will do stuff post purchase that they don't have to do legally, but still do to protect their reputation and keep customer happy
vs with private party, once you sigh papers , the person is off the hook and unlikely to step up and fix something that was not obvious at time of transaction

 

Correct, I have a stronger trust that a P-car dealer would step up to the plate to attend any issues that were not fully disclosed before sale.

Also some private sellers still have lien that need to be paid off from buyers' fund before title transfer can commence. There's a level of additional risk in buying from private party such as the recent episode of which a seller just kept the fund and left the buyer with a car that still had the original lien on it. Nightmare ensued...

I am fine with buying from a private party. I just wouldn't pay the same price as I would at a P-car dealer.

 

In my experience most banks will finance a private sale but their rate will higher compared to a dealer sale.

 

The only reason to buy used from a Porsche dealer is CPO other than that I have no problem doing private party. And unless you are buying from your local dealer good luck getting anything after the sale. I wouldn't know about financing as I don't play that way.

Peter

 

I was under the impression, to avoid these type of shenanigans, the new banking institution would directly pay the old institution first and if there is anything left, the money would go towards the previous owner.

 

https://carsandbids.com/auctions/rjz...-cayman-gts-40

Not familiar with this site, so should be interesting

 

Correct, but some buyers pay cash. The buyers that know better (read: not all) would fund toward the lien first. Even then the buyer would have only a signed P&S and perhaps possession of the car but no signed title transfer until the RMV issues a title to the seller weeks after the lien is satisfied. One could argue it's pretty safe but there would always be some level of angst until the title transfer is completed. And if I am correct, you can't register the car under your name until you have that title.

So P-dealer > private party w/ title > private party w/ lien. Again, I am not against buying from private party. Just that the price has to commensurate the risk and/or added inconvenience of doing so.

 

Really nice build. Crazy that you could get it for under $100k back then

 

This car is on sale near SF for $99k
https://stat.vin/cars/WP0AC2A85NS275077

Nice build and damage doesn't seem too bad

 

That’s a terrible car!
Repairs will cost upwards of $15-20K…can you see how they tried to hide the fact that the airbags deployed. You’d have to pay all that to get it back on the road, then take the same amount you put into it as a hit if/when it goes for resale. It’s in a junk yard for a reason. Now if I can get only them to sell me the Buckets for 5K, and I’ll send them my sofas.

 

Car is already repaired, a long time ago, and owner claims "You'd never be able to tell it's a branded title car or that it had an accident or repair"

 

Ahhh I see… then its not too shabby

 

If you plan to keep it and specifically track it, not a bad option. Otherwise you'll probably struggle immensely to sell that in the future and dealer trade-in values will be in the dumpster.

 

pp
Bought my GT4 private party and it still had a lien on it. Went to my bank with the seller and paid the lien off directly to Porsche. Owner had contacted Porsche in advance for payoff amount and was in possesion of the payout document from them. Gave him a cashiers check for the remaining balance. No qualms whatsoever, possession is 9/10ths. Title showed up at my house from Porsche about a week later. Didn't pay a dime in taxes, since it was a private party purchase

CPO warranties are a joke, I bought an M3 CPO from BMW Encinitas that had a tune installed by them before the original purchase. They tried to act like they had no idea it was on there, that disqualifies a car from being CPO'd. That was my one and only time buying a car from a dealership.

 

i wish it was like that around here. You have to pay sales tax when the vehicle changes hands and you pay when you register the vehicle.