GT car / Salesman - Shiraaz Sookralli - Champion Porsche's VP of Marketing
10-02-2018, 11:53 PM
#1771
I would take it a step further and say it's a result of how the system and market operate. Porsche metes out the allocations in little batches and doesn't say if/when more allocations are coming, dealers promote the idea of scarcity, ideas are floated around about some generation being the last NA or manual, forums like RL foster these ideas and rationalizations to pay ADM, and in the background you have a strong economy, high stock prices, interest rates are still pretty low, etc. One top of all of that, you generally have insufficient checks and balances to prevent someone like SS setting up a scam like this (not just at Champion, at dealers in general).
People will stop paying above MSRP when conditions change and they expect the cars to depreciate. I generally keep cars for years, and I expect my Porsche GT cars to eventually depreciate. If they wind up holding value, that's great, but I'll still drive them without inhibition.
People will stop paying above MSRP when conditions change and they expect the cars to depreciate. I generally keep cars for years, and I expect my Porsche GT cars to eventually depreciate. If they wind up holding value, that's great, but I'll still drive them without inhibition.
10-02-2018, 11:58 PM
#1772
10-03-2018, 12:05 AM
#1773
Race Director
Not to mention all these dealerships who also take ADM's and have a second set of books for them. Don't get claimed as income and no sales tax paid. These are the kind of internal shenanigans that enable guys like Shiraaz.
Plus they pay out brokers from that too who I'm sure are reporting all that income. Quite the game here that nobody will talk about. Someone with the IRS could have a field day here.
Plus they pay out brokers from that too who I'm sure are reporting all that income. Quite the game here that nobody will talk about. Someone with the IRS could have a field day here.
10-03-2018, 12:06 AM
#1774
Race Car
No coloring books needed. Be a little more cooperative here than always have smart *** comments.
I think many like the cars, but the favorably rating of PCNA, PAG, and their dealers is MUCH lower. Great cars, questionable business practices and ethics. Hard getting excited about the cars, when the buying and maintenance experience sucks though.
I think many like the cars, but the favorably rating of PCNA, PAG, and their dealers is MUCH lower. Great cars, questionable business practices and ethics. Hard getting excited about the cars, when the buying and maintenance experience sucks though.
10-03-2018, 12:08 AM
#1775
Race Car
Not to mention all these dealerships who also take ADM's and have a second set of books for them. Don't get claimed as income and no sales tax paid. These are the kind of internal shenanigans that enable guys like Shiraaz.
Plus they pay out brokers from that too who I'm sure are reporting all that income. Quite the game here that nobody will talk about. Someone with the IRS could have a field day here.
Plus they pay out brokers from that too who I'm sure are reporting all that income. Quite the game here that nobody will talk about. Someone with the IRS could have a field day here.
10-03-2018, 12:15 AM
#1777
Not to mention all these dealerships who also take ADM's and have a second set of books for them. Don't get claimed as income and no sales tax paid. These are the kind of internal shenanigans that enable guys like Shiraaz.
Plus they pay out brokers from that too who I'm sure are reporting all that income. Quite the game here that nobody will talk about. Someone with the IRS could have a field day here.
Plus they pay out brokers from that too who I'm sure are reporting all that income. Quite the game here that nobody will talk about. Someone with the IRS could have a field day here.
10-03-2018, 12:41 AM
#1778
Not to mention all these dealerships who also take ADM's and have a second set of books for them. Don't get claimed as income and no sales tax paid. These are the kind of internal shenanigans that enable guys like Shiraaz.
Plus they pay out brokers from that too who I'm sure are reporting all that income. Quite the game here that nobody will talk about. Someone with the IRS could have a field day here.
Plus they pay out brokers from that too who I'm sure are reporting all that income. Quite the game here that nobody will talk about. Someone with the IRS could have a field day here.
10-03-2018, 01:10 AM
#1779
Race Director
Originally Posted by Archimedes
What evidence do you have that they have a ‘second set of books’ for ADMs and what makes you think they aren’t paying taxes on the full amount received for the car? You do understand that taking a deposit is not a taxable event, right?
ADM is a taxable "event" and part of a cars purchase price. A "deposit" which many times is an ADM should be reflected on the total purchase price and subject to sales tax.
I don't have to spell out the rest. Those in the know, understand what I'm talking about.
10-03-2018, 01:21 AM
#1780
I wonder, do those car brokers get 1099'ed by the dealers and sellers?
10-03-2018, 01:22 AM
#1781
Three Wheelin'
10-03-2018, 05:16 PM
#1783
Ah, the mods deleted my post because I said a bad word. A deposit is not a taxable event. Purchase of the car, with ADM, is the taxable event, and dealers pay tax on the income earned on all of it. Making claims that dealers are committing tax fraud by not reporting ADM income with absolutely zero evidence is ridiculous. But then so is most of this thread. It's the stupid gift that keeps on giving.
10-03-2018, 05:19 PM
#1784
No question mark at all. Dealers pay tax on that income. And brokers don't get 1099s from dealers. If a broker is buying and selling allocations, they should be reporting the taxable income from those business operations. Speculating about dealers or brokers violating tax laws with no basis to do so is ridiculous. You could just as easily speculate that half the people on Rennlist are cheating on their taxes.
10-03-2018, 05:45 PM
#1785
Race Director
Ah, the mods deleted my post because I said a bad word. A deposit is not a taxable event. Purchase of the car, with ADM, is the taxable event, and dealers pay tax on the income earned on all of it. Making claims that dealers are committing tax fraud by not reporting ADM income with absolutely zero evidence is ridiculous. But then so is most of this thread. It's the stupid gift that keeps on giving.
Why bother keep posting in here then and clicking on the DAMN thread??
Intenet Brands and Rennlist obviously approve of this thread, who gives a rats *** what you think??
And yes, there is first hand evidence that full purchase price of cars with ADM are not being fully taxed at some dealers, and that Shiraaz did take deposits to his Autosports account for cars that were indeed delivered.
Ah, your post got deleted because you're trolling and offering NO value with any of your posts. You seriously must be in the top 3 most useless people on RL.
Last edited by STG; 10-03-2018 at 06:05 PM.