Right of First Refusal on GTs?
01-09-2019, 05:59 PM
#1
Racer
Thread Starter
Right of First Refusal on GTs?
I've been talking to a couple of dealers but had an interesting conversation recently... Has anyone had to sign a right of first refusal to purchase a GT car? It's a huge turnoff (in addition to the lovely ADM) and I hope buying a Porsche doesn't turn into a Ferrari ordeal.
01-09-2019, 06:08 PM
#2
I would be taking a quick walk out the door if I was told that....had to do an ADM for my GT3 (still very happy I made that decision) but right of first refusal was never considered/mentioned
01-09-2019, 06:13 PM
#3
Track Day
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I've been talking to a couple of dealers but had an interesting conversation recently... Has anyone had to sign a right of first refusal to purchase a GT car? It's a huge turnoff (in addition to the lovely ADM) and I hope buying a Porsche doesn't turn into a Ferrari ordeal.
01-09-2019, 06:16 PM
#4
Never done it with cars. But I would consider it (depending on length), but only at msrp.
01-09-2019, 06:16 PM
#5
It’s implied. You start retailing them yourself and the flow stops. If he is selling to you at MSRP then that’s fair. If you are paying market price (ADM) then I would walk.
01-09-2019, 06:21 PM
#6
Had to sign that with Ferrari back 11 years ago or so . . never with Pcars
01-09-2019, 06:22 PM
#7
Rennlist Member
Why not? They either offer a price on your terms or they don't, they had the opportunity to buy it back from you. There's no way they can enforce any so-called contract that would require you to sell below market. The catch is that they become GT-car soup ****'s. No GT3 for you!
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01-09-2019, 07:22 PM
#8
Rennlist Member
Seen it here too, I personally have no issue with it especially for MSRP GT cars (and in this case if any small ADM - it's off to a charity).
https://rennlist.com/forums/991-gt3-...l#post15420209
https://rennlist.com/forums/991-gt3-...l#post15420209
01-09-2019, 07:24 PM
#9
Why not? They either offer a price on your terms or they don't, they had the opportunity to buy it back from you. There's no way they can enforce any so-called contract that would require you to sell below market. The catch is that they become GT-car soup ****'s. No GT3 for you!
01-09-2019, 07:47 PM
#10
Racer
Thread Starter
The varying sentiment is quite interesting. It just seems outrageous to me that a Porsche dealer would make you sign a 2 year agreement to purchase a car with ADM then offer to buy it "up to MSRP at market price" if I decide to sell it within the first 2 years. Enforceable or not, it's just another hoop to jump through that makes the purchasing process much more burdensome. I guess if it's becoming a standard, I'll just deal with it but I never thought I'd have to deal with this w/ Porsche.
01-09-2019, 08:54 PM
#12
I had to sign a 2 year one for my MSRP GT4. When it was time to get rid of it I did my due diligence and had them give me a trade/buy offer first, but I had higher offers private party elsewhere and asked them to match. They wouldn't and that was the end of that.
01-09-2019, 08:57 PM
#13
The varying sentiment is quite interesting. It just seems outrageous to me that a Porsche dealer would make you sign a 2 year agreement to purchase a car with ADM then offer to buy it "up to MSRP at market price" if I decide to sell it within the first 2 years. Enforceable or not, it's just another hoop to jump through that makes the purchasing process much more burdensome. I guess if it's becoming a standard, I'll just deal with it but I never thought I'd have to deal with this w/ Porsche.
01-10-2019, 12:26 AM
#15
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If you are paying ADM, no way, I wouldn’t sign.
If you are paying MSRP and market truly demands more, then sure... if you decide to sell within the first 2 years and they don’t give you what you signed for, then you are free to move on.
If you are paying MSRP and market truly demands more, then sure... if you decide to sell within the first 2 years and they don’t give you what you signed for, then you are free to move on.