ChaosPanda

Hello everyone! I am new to the forums and looking to buy my first Porsche, a well specced 981 GTS! I just want to start off saying I am super excited to be able to get into one of these, and hopefully ASAP if all works out well! I found one at a dealership but found out I was a week late when I asked Anyways, I think I found something that I really like, but it's from a private party out of state. I've never purchased from a private seller before, let alone a different state. So I have a handful of questions and am hoping to get your help and advice to hopefully get me into my first Porsche! Here are the specs! Seller is willing to get a PPI done. Asking price is $74K.



Absolutely beautiful car and has everything that I want, but here are some of the questions/concerns I have.

1) If the seller gets the PPI done, should it be from a Porsche dealership or a 3rd party? I'm not too familiar with this. Does it include a test drive to check engine, transmission, etc.?
2) Will a dealer CPO this car? Is that something they do if car is from a private party? Not sure if it is even necessary since PPI will be done and I'll probably only drive 5-6K miles a year.
3) Do you pay taxes on a sale from private party? I would imagine not but not entirely sure.
4) How does the purchasing work if I pay all cash? If seller has a loan, does he have to pay it off first or do I do that? Seller mentioned the car is owned by Credit Union, so not sure what is implied and what I should take from that. Not familiar with how the paperwork happens.
5) Car is in Seattle, WA area but I am from LA, CA. Would somebody be willing to inspect the car for me? Or should I go check it out myself?
6) If the car is good upon inspection, I would ideally get it shipped down ASAP. Do I have to be there when they pick it up? Possible to arrange ahead of time or do they pretty much pick it up on short notice?
7) 2nd owner on car. I received a carfax report from the seller and all seems good but wouldn't mind if somebody took a second look at it.

Really hoping this works out. Pre-ordered my dream car, an e92 M3, about 5 years ago but then had to cancel the order because of my 120+ mile commute on a new job. Looking forward to your advice

FlamsteadHill

A dealer should be able to do a good PPI. It absolutely should include a full slate including a vigorous test drive.

AFAIK you will only get a CPO if you buy it from a dealer. There is a fair amount of cost associated with the whole process. Expect to pay $3-5k extra for a CPO car. Not only is it "certified" but the factory warranty is extended. There is a lot of value in that. A PPI has no warranty, you are basically trusting the inspector is qualified and trustworthy. A CPO backs it up with hard money.

I'm sure every state is different, but I really can't imagine any one (that has a Sales Tax structure) not charging tax on a private vehicle purchase. In Vermont, it is part of the initial registration cost. And FTI, the tax is charged on a value picked from a list, not necessarily what you actually paid. This is to prevent fraud, as in "but I only actually paid $25k for this 981 Spyder"...

You will not be able to register the car until you get a clear title. Clear title will not be granted until any existing liens are satisfied. Note that the title will not be released by the lienholder(s) until any time to clear deemed necessary has passed - could be a couple weeks even if paid by cashiers' check. Note that, the title still will have to be assigned to you by the seller once the lien is released. There is a bit of trust involved, although you would have good "legal" standing if you have a duly executed bill of sale. For a vehicle of this kind of value I would suggest having the Bill of Sale notarized.

JCtx

You didn't state mileage and condition, but if it's less than 10K and in pristine condition, that's a pretty good deal man. They're reportedly selling in the low 80s with that MRSP...and privately. I did attempt to sell mine last week, and got no hits, so will keep it. But maybe their true worth is high 70s for a quick sale right now, not low 80s. Okay, my take is this:

1. Get a PPI done by a THIRD PARTY. If it can be a Porsche dealer, the better. But if a Porsche dealer is selling the car... and it didn't just CPO'ed it, then I'd get it done somewhere else. The only way I'd buy a used car blindly from a dealer without a PPI is if it just got CPO'ed. And even then, there have been many blatant omissions. Due to many undesirable transactions (even with Ferraris), I just don't trust dealers. I much rather buy from a private party, even if warranty is 2 years less, but to each his own. Plus, car wasn't abused by multiple test-drivers and dealer personnel, and didn't sit outside for any length of time. Having said that, I'd only buy from ORIGINAL owner. But since I'm picky as hell, I'd only buy used from myself, but can't do that. Ha ha. So I only buy new. I'm extremely particular about the interior, and in a sports car, even with a few thousand miles, there can be significant seat bolster wear, scuffs, etc. THAT would be my main worry. For instance, my car with 8K miles looks better than new, with leather conditioned several times, and in absolutely perfect condition, always garaged, etc. Exterior is almost perfect, but can't keep it that way if used (like I do). I'm sure there're several folks if not like me, close. As a side comment, recently bought a BGTS for my brother, with only 6K miles, and it had significant seat wear and scuffs.

2. Not that I know of; only when they sell it. You could ask, but what you'd have to pay wouldn't be worth it IMO.

3. You always do man. I think there's only one state (or maybe 2) that don't tax resales, so extremely rare. Plus most states now do tax based on book value, so forget about getting a bill of sale for half, and stuff like that.

4. I always pay cash for my vehicles, so it's way easier. And ask for a cashier's check from BofA (my bank) so I can accomodate buyer and close the sale on a weekend... but I ask for a copy in advance, check it, and since I know all its features (watermarks, etc), no risk for me and easy for the buyer (but keep in mind a cashier's check from a credit union is cancelable, so never do that. Only major US banks, which cannot be canceled unless turned in. Talk to your bank for piece of mind). I also never ask for a deposit, but that's just me. I tell you this so you can try to get the same terms if you ever buy in that situation. However, with a lien holder, you need to close the transaction at their place. And to avoid any issues, I'd demand to pay the full amount to the institution, and let them sort who gets what; never pay the buyer separately. In case of any issues (or otherwise), it'd be much easier to get things resolved with a reputable financial institution. If seller doesn't want that, walk. Or have him/her pay off the car and then deal with a clean title in his name the way I described above. And yes, always ask for a copy of the title, and make sure you're dealing with the actual owner, and correct VIN, for Carfax check, etc.

5. In cases like that, the smart thing to do is to check the car yourself... and if not too far away (like in your case), just drive it back, and get acquainted with the car. And in your case, I'd happen to be a very fun drive. If you're not mechanically inclined, and if anything during your test drive doesn't sound normal, then I'd do a PPI. But if you spend enough time talking to the owner, and ask the right questions, and you know the car from research here and elsewhere (typical engine noises, idiosyncrasies, etc), that would be rare. If the owner is the original owner, car is still under warranty, owner has never modified the car mechanically in any way (ALWAYS ASK.. but impossible to know from a 2nd owner), and he tells you the car has no service or warranty issues of any kind, it's going to be true. Nobody would sell a bad car privately, knowing where he lives, etc. Plus you'd have all the car's history, maintenance history, and could always reach owner for any questions. THAT is why I'd much prefer a private sale from original owner than a dealer. Nobody gives dealers maintenance history because personal info is there. I only do that when selling privately.

6. If you don't want to drive it after closing the sale, almost every seller doesn't mind keeping the car in his garage, and assisting with the shipping. I always help in that regard, but ask first. But keep in mind most shipping companies give you like a 2-week window, plus at least another to drop it off. I always ask them to minimize movement. Less risk of joy rides, and especially damage.

7. Oh man. Didn't see that before. I wouldn't like that, but guess not the end of the world... but you'll have to be a lot more careful then. And yes, if somebody knowledgeable about it offers to help check it out, I'd gladly accept... but I'd absolutely have a PPI done in that case (that's why I much prefer from original owner). And maybe worth doing since the price seems right. I would never sell mine for that, but it's in immaculate shape, and I'm the original owner. He he. Good luck man.

mdork

I’m in Seattle and might be able to look at it for you. Should still get a PPI though.

schweez

To Orginal Post -- I live in Los Angeles and have a very similar specced Cayman GTS with approx. 4800 miles. White, PDK, Sport Suspension and PTV. I also had a GT3RS steering wheel installed. Bought from Porsche and installed by Porsche. I'm toying with the idea of selling it but haven't built the courage to officially post it. Just no real time to drive it -- two young kids and a new house just purchased. Anyway, if you're interested you can PM me. I tried to send you a message but don't know if it went through.

Yogi911

Seems like a good deal to me.

The only state i know of where you dont pay sales tax on a private sale is AZ....and i think thats so cool of them. There may be others.

ChaosPanda

Ahh I forgot to include the mileage! It has 11,500 miles on it. Seller said he only drove 2,000 miles on the car as he is the 2nd owner. Appears the 1st owner sold it at ~7,300 miles and 2nd owner bought it at ~9,700. Where did the mileage in between come from? Other than that, Carfax is clean and seller sent additional pictures. Appears to be clean and well kept with the exception of a scratch on the bottom of the front spoiler lip, as I was told.

Did some more research on the whole buying process and it seems the best way, like you guys said, is to just have the seller get the title or have the two banks work it out. I'm just not sure how I feel about buying a car like this from a 2nd owner instead of the 1st. What are your guys's thoughts on this? I know elp_jc wouldn't buy from a 2nd owner haha. Not sure how to tag users or if it's possible :/

rdboxster

You may want to inquire about road rash on the side intake vents and the area in front of them. Also does it have clear bra? These things take a beating from road debris. My BGTS was bought out of state but I had a chance to look it over 1st. Had 4500 miles with one owner. I was surprised at the amount of chips around the side intake vents but figured it was a used car so won’t be perfect. I had the clear bra installed by the dealer before driving back. The plastic now has several chips. MyvCayenne GTS was bought used from out of state also. The Porsche dealer was great which made the transaction easy. Flew out to Virginia and drove back.

JCtx

Based on the first part of your quote above, now you understand why, right? Ha ha. Whoever bought it the first time had a good time with that car before selling it, and without the need to even title it. Very common dealer practice, unfortunately, but it's their car until sold. Plus the additional joy rides (aka test drives) by potential customers before it was purchased, where often salesmen go WOT with cold oil (not good)... and yes, that has happened to me every time I've test-driven most cars, including a few Porsches. Hey, you should look at the car 'Schweez' is selling too. My suggestion is to define right now exactly which are your deal-breaker options and circumstances, like buying from 1st owner, getting certain options, etc., and patiently search for the right car until it materializes. Also, a pristine car is much better, even if it costs you more, because you know no potential issues of any kind. As somebody mentioned, even a small hit could do lots of internal damage on these cars. Good luck man.