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I can't believe Randy sold his 991.2 GT3 for 225k. JFC that's a lot for a 991.2
Now that I closed the deal on my car, I can share a key value added data point that I learned RE warranty.
Unfortunately, I really wanted a higher mileage 991.1 GT3 RS *without* Porsche CPO since this would be my daily, but all the sellers in the 16kish mileage range were smoking crack and the 4 digit mileage cars were waaaay cheaper. Go figure.
The reason why I did *not* want Porsche CPO is because practically every 991.1 GT3 RS I checked with the Steingold automated Fidelity warranty quoting system qualified for Platinum coverage. Versus every 991.2 GT3 and 991.2 GT3 RS I checked did *not* qualify for any coverage at all. I suspect that zero 991.2 GT3/RS qualify and all 991.1 RS qualify for some reason, but no way to know for sure.
As you all may know, Fidelity Platinum is very well regarded and is *exclusionary*. So my RS now has 120,000 miles of platinum coverage form when I bought it, kek.
As you may all also know, if the seller is a Porsche Dealer, they almost always CPO their GT cars and with a premium for that added value. Well, CPO is *inclusionary* and only covers a handful of components. So CPO can **** off kekeke. It's more comparable to Fidelity Gold coverage, which you can also get, but why would you when you can pay for Platinum.
So given that you still have folks like Randy able to sell his 991.2 GT3 for 225k (lmao to that buyer) and 991.2 GT3 RS still way above MSRP--all with expired or expiring warranty coverages, imo the .1 RS is sitting pretty, especially with *this one trick* kekeke
Immediate Next steps for me:
I already installed 991.2 Multifunction Wheel, waiting on whether to put together a PIWIS 3 setup myself, or just have Dealer activate the MF capability
Full Screen carplay
Retrofit Rear Camera (no drilling, wire through rear tow hook)
With that, the interior will have been brought forward to the modern era to meet or exceed that of the 991.2.
I didn't want to share this info, because then I would be one of the few with warranty if/when I sell, but my urge to democratize information always prevails.
Anyway, if you found this post helpful: Please like, comment, and subscribe. It really, really helps out the channel,
Believe it baby...!!
Actually his timing was very good as he had no idea (nor I) that Porsche was going to raise their price 9.5% on new GT3's. You can bet that the price increase is going to trickle down to the next best alternative to a new 992 GT3. If I had known about the increase, and given that we're now entering the driving season again, I might not have been as negotiable as I was. Congrats to the new owner, he got one of the very best PTS fully loaded GT3's available on the market.
Steingold is a Sponsor on this site, I'm sure you can find with a quick search.
Didn't mean to hurt your feelings
I tossed a like your way and thanks for the link and code. I'll check it out. I've never bought a warranty so i have some reading to do.
Steingold is a Sponsor on this site, I'm sure you can find with a quick search.
I tried to call to get a quote for my 2018 touring, they told me Fidelity will not extend coverage to my car as it is considered too high end performance and that is too much of a risk for them to insure. Just an FYI for others.
In Option 1, net worth is $250,000 - $300,000 upfront cost = -$50,000. Option 2, net worth is $250,000 - $364,000 (principal plus interest) = -$114,000, in Option 3 net worth is $364,000 (4% interest)
The net delta between not buying a car vs buying the car with a loan is almost half a million dollars. Why? Because life is too short?
So which one of these options do you think people will go with in this market? You have to be extremely dumb (and maybe haven't taken any Algebra courses) to go with Option 2. You can be cash rich and go with Option 1 but the number of people who will do that is shrinking on a daily basis.
Cars are not investments, they are depreciating assets. But the amount of loss in our hobby could potentially be much higher now vs 2 years ago.
Let's see how long the interest will hold. Those commercial real estates loans banks are holding now cannot survive at these interests rates. Something will need to give. Either crash or bailout. Our new modern monetary reality every 10 years now.
Let's see how long the interest will hold. Those commercial real estates loans banks are holding now cannot survive at these interests rates. Something will need to give. Either crash or bailout. Our new modern monetary reality every 10 years now.
If the rates dont hold, the stocks will rise. And if things crash, do you think car market will not crash with it? Car market is literally the most sensitive market in this economy. Mortgage crisis, bank bailout, war, everything impacts the car market (or at least this niche sports car market). The last year and a half was outlier due to COVID, work from home, great resignation, and bunch of other man made bull**** created this artificial supply/demand environment. Honeymoon is over, back to reality. Those who paid massive premiums are in for a shock. 991 6MTs will start trading below MSRP very soon. Every recent sale I read about (+ my own personal negotiation with various sellers) indicate average prices are down by $30-40k from last summer already.
People are happy selling a PTS 6MT GT3 for $20k over. You don't realize that was pre-covid pricing already. I dont remember PTS 6MTs ever going below $30k over.
everything I have ever read is that Fidelity will not warranty an RS. I’d be really surprised if it doesn’t get kicked back somehow.
kekeke; caution is always good
life is all risk, then you die
Disclaimer: I have several vehicles that are warrantied through Highline-Autos, so definitely no hate towards him. However, I did not ask him to quote my GT3 RS for obvious reasons--no point as you will find below. And no need to shine a flashlight on this.
I've made the research E.Z. for those who are interested and are "unable or unwilling" to search:
No Can Do Sir (your typical agent)
Originally Posted by Highline-Autos.com
They will not, anything more "exotic" than a Turbo, we have to use our other provider for warranty coverage. The good thing is between the two, we have customers with great coverage on everything from Hondas to Bugattis.
Originally Posted by Highline-Autos.com
Fidelity is almost exclusively milage sensitive, with pricing tiers approx. every 10K miles.
But Wait, There's More (insert_south_park_look_closlier_meme)
Originally Posted by FourT6and2
Porsche does not offer extended warranties on RS models. I've called maybe 10 dealers, including Livermore.
Originally Posted by SteingoldVolvoCars
I can confirm I’ve heard this several times as well. Not sure if Fidelity plans will cover them, but enter the VIN below to give it a try.
Originally Posted by greggmorton
What an awesome online tool. Didn't know this existed. Thanks for sharing.
I have a 2016 GT3RS (991.1) and it appears I can get coverage.
Hey guys, just to clear something up, GT3 and GT3 RS coverage is not available from Fidelity... The Darwin system (what we use to quote and what Steingold's quote machine is based off of) is reading 2016 Porsche 911 GT3 RS VIN's but not reading any other year of GT3 or GT3RS. I have made a note with Fidelity that if they are going to offer coverage on these vehicles, that the other years are not working, or if they are still ineligible... for some reason the 2016 911 GT3 RS is reading as eligible. I wouldn't want anyone purchasing a policy, then be denied when they go to use it because of a computer error.
Here the list of ineligible vehicles from Fidelity:
If The Glove Fits You Must Acquit
Originally Posted by SteingoldVolvoCars
Just confirmed and uploaded the Vehicle Service Contract Eligibility Requirements from Fidelity - see below and scroll down to the bottom PDF:
@greggmorton From Fidelity themselves, your ability to receive a quote on your 2016 was an error, unfortunately you do not qualify for coverage from Fidelity, if you'd like to explore options for your GT3 RS from our other provider, Freedom Warranty, I'd be happy to help. You can reach me at tgibson@highline-autos.com or (855) 924-1333
Originally Posted by SteingoldVolvoCars
Hey all - I just confirmed directly with Fidelity legal department – if the VIN decoder rates the vehicle and provides quotes, they will accept coverage for that vehicle. They are obviously aware of the exclusion listed for GT3 models, but due to the specific year, coverage is available for some 911 models due to the VIN decoder - must have something to do with the specific years. They will honor coverage and write the plan for sure. Basically, if the online quoting portal we have provides available options to purchase using the correct VIN, you’re good to go to purchase from Fidelity with no issue at all. They will accept the plan as normal. Confirmed with no issue at all.
Well aware of the message received below, but I reached out personally to our Fidelity Dealer rep, who confirmed with the Fidelity Autorates admin team - they confirmed if the AutoRates system quotes coverage available for a specific VIN, they will honor the coverage. Regardless of the specific exclusion, if the VIN is decoded in the system, it is accurate. Each year pulls differently, therefore it will be honored. If your system quotes the VIN correctly and accurately, you can write the policy with no issues.
We have high level connections at Fidelity, so you can rest assured we're speaking with the right people who provide the right answers. The Dealer Assistance team is mainly a customer service connection for entry level questions.
See below answer from Fidelity directly:
"If the actual vin number allows you to rate and print the contracts, you can sell it. I had JM&A admin rate this make, and model (2016 Porsche 911 GT3) and we are okay with you moving forward."
Originally Posted by SteingoldVolvoCars
All valid points, but we are referring to our admins here - to re-iterate - for those interested in purchasing the coverage for your vehicle, since the online quoting tool is accurately providing options for valid VIN's, Fidelity will stand-by and honor all plans written, regardless of the exclusion list. If the VIN decodes the vehicle, the coverage is valid. Period. We received a clear and concrete answer, and since the systems are working properly and accurately, if it quotes, it's valid. Period.
This should help clear up the confusion for eligible vehicles - Fidelity will always stand-by their quoting system they provide to the dealers, and if a VIN is quoting successfully and accurately, they honor the plan. Even if it happens to be a clear exclusion from a list, they honor the coverage. Fidelity Warranty Services processes roughly 350,000 plans per month - PER MONTH, therefore, are not concerned with a small margin of vehicles that may slip through the VIN decoding system. They have confirmed with me personally and specifically on this matter, and the coverage will be honored.
Good work @unluckydrawer making it very clear for those new to the thread. I almost wish someone would try to use their "GT3RS Fidelity Warranty" so they can tell us what happens next... I'm not sure suing Fidelity/the selling Fidelity retailer would be worth it just to have your claim paid.
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Your place for distinguished automobiles, proud provider of Fidelity & Freedom Warranty extended warranties. Visit us at Highline-Autos.com
while prices were steadily marching lower the back half of 22, they have at least paused their decline for now. Same with watches, stocks, etc - doesn't mean we hit bottom but just interesting observationally. However, interest rates also take time to run through the economy and when you consider that we'll be within 50bps of this rate for at least another year (one more raise and a couple cuts), hard to see a sustained springback in a market so heavily reliant on financing.
while prices were steadily marching lower the back half of 22, they have at least paused their decline for now. Same with watches, stocks, etc - doesn't mean we hit bottom but just interesting observationally. However, interest rates also take time to run through the economy and when you consider that we'll be within 50bps of this rate for at least another year (one more raise and a couple cuts), hard to see a sustained springback in a market so heavily reliant on financing.
High interest rates is hurting the dealers just as much if not more than buyers. People dont realize this but dealerships dont buy their cars with cash all the time. They work with loans and cars that dont sell and sit for days and weeks cost them a lot of $$$$. I still remember how in spring of 2020 we were saying this is the bottom except it kept getting worse for another year.
04-06-2023, 08:47 PM
