turbo8765

Morning all,

I am super excited to have gotten a PTS GT4RS allocation. The wait will be long. The excitement has been tempered somewhat however by the details of the transaction. I'm posting to measure whether I am the outlier in this scenario.

One of the conditions to be given the allocation was to pre-trade my GT4, which I agreed to do. The issue is that it's now been 4 business days and 8 calendars days since I delivered my car and title to the Porsche dealership, and I still haven't been paid for my car.

Like many members of this forum, I've bought and sold a lot of cars. This is the only dealership that has accepted my car without immediate payment. Is my experience representative, or am I the outlier? Is it common to exchange possession of a vehicle (with title) and not receive payment immediately?

Thank you for reading and for any info you may have.

Eric5280

Is dealer local? Did you drop off yourself or ship the car? What is their response?

Had one take a couple weeks once. Out of state dealer, had to receive car then send the check. Was reputable dealer that I worked with before so I wasn't worried.

subwoofer

When I traded in my 981 Boxster S for a factory order of a 911, I received a check before I left the dealership. It was a local dealership. Hopefully they are honest and will pay you ASAP. When you hand over your car and title, they should have paid you right away ot wired the money. I would insist that they wire the funds to you immediately.

Manual991

I thought they just applied the trade in amount to the new purchase.
when I got a CGTS allocation, I traded in the CGTS that I had right away and didn’t get a check. The dealer just applied the trade in amount to the balance when my car arrived a few months later.

needmoregarage

This is my experience. Every car we’ve traded against an incoming car has created a “credit” (in the value of the trade-in) to be applied against the purchase of the new car. In our state there is a tax credit. The biggest negative is they have use of your money for “X” months. They get a free loan. But if I were to ask to be paid for the car, I’d lose the tax credit which is significant.

Bearrun21

To the OP, if the dealership gives you a check for your pre-trade you are going to LOSE the sales tax savings of your trade. As @Manual991 outlined above, unless you are in a sales tax-free state, I believe you do NOT want a check...just the preliminary buyer's order with the details of your pre-trade.

JB991

Took my dealership almost two weeks to get me my check. As a note, it's marked as a trade, so I'm able to use the tax credit up to one year. I've always done it that way with my dealership.

On another note, I'd have kept the GT4 until the 4RS arrived. No telling what hiccups may come about and then you're left without.

TXshaggy

I’ve seen it both ways at 2 TX dealerships.

One kept the money and applied it at car arrival.

Other stroked me a check when I gave them my Spyder. I actually told them to keep it on account, they said their policy was to give a check back.

In both instances I got full trade credit.

Both I knew in advance their policy.

Just call your SA and ask…not hard to do

turbo8765

Thanks for all the responses. No comment on whether it's a local dealer as I don't want to give any information that would make it easier to identify the dealer in question.

I very much would have liked to keep my GT4, but the pre-trade was essential to the deal.

Zero tax advantage in my state to giving them an interest free loan.

The sales manager gave an update since my initial post and indicated a system issue (I'm assuming the CDK hack) contributed to the delay.

Mike981S

Yes, the CDK hack impacted the dealers' ability to issue checks. I am still waiting for the reimbursement of my VAT deposit due to the hack.

poofyo101

Dealer kept my money there until my 4rs arrived

needmoregarage

If you’ve got an allocation and you made a deal to the extent that you already traded in a car, and gave them possession…why is identifying the dealer a problem? (And I don’t care about the details as I’m not in the market for a new GT4 of any type). But it sounds like you have a deal already written and agreed to, and papers have been signed. Are you concerned that someone will offer them a higher ADM and buy it out from under you? I don’t get it…

I do wish you the best, and thank you for posting this thread as I learned a few things. It’s been a long time since the dealer explained why they keep our funds (and I honestly don’t remember at this point as it’s probably been 10+ years). But it does seem like it’s a dealer policy that’s made locally. It’s possible there could also be state laws also creating differences amongst dealers (but again… it has no impact on me but it’s a point of curiosity).

Good luck and I hope the car is everything you expect, and more!

Mike981S

In my case, as soon as PCNA told me and the dealership that the car was on a ship, they apologized profusely for not being able to return the deposit yet due to the hack. Since they have to keep it in an interest-free account, I am sure that this was the cause. Now that they are back up and running, my SA said that he will take care of it on Monday.

VVG

On a different, but nonetheless related note, what kind of trade-in values are people being offered on their GT4 and Spyders these days?

I have a 2020 Spyder, loaded (PCCB and Burmester), MSRP 133k, 14000 miles.

sleepin'gt

I never knew you can get a check back for trade in and still get the trade tax credit, for me it’s always been the dealer has to keep the money to apply as trade credit for next car.