0Q991

I definitely do NOT want to pay taxes on the comp. They should give the option to have that amount deducted from price of the car for those who decide to accept the cash comp.

Otherwise the comp means even less to the buyer AND they still pay taxes on the full price of the car...

SanDiegoDavid

One other consideration with regards to the 3 year service contract option: Does it include the pre and post track checklist items recommended for DE? If it does, I might take the 3 year service deal and tires. I asked that question, but she did not know. She will ask and get back to me next week. Anyone else have any additional info?

jfr0317

I'm certainly no CPA, but hopefully someone who is will chime in as to whether a payment for compensation for loss of use or unplanned depreciation would be considered as income.

mqandil

Indeed, this is really important, but unfortunately they did not think that far yet. The other question about service is regarding items like wear items or track pre & post prep as you indicated or other misc. items (e.g. brakes, Alignment, or even swapping back and forth your winter tires to regular tires). Perhaps on some of these items you pay for the parts only but the labor is free. But again the devil is in the details and unfortunately they don't know much at this point, and probably have not thought them through yet, and perhaps as people asking these questions they will formulate some answers and better picture about the warranty and free service. Mark

997TTMeteor

If the car is epic and rock-solid moving forward people will still be lining up for it and depreciation may not be an issue. Yes, that may be a big IF. So yes, we should be compensated. Extended warranty + cash is good. I wish it was 2 years + twice the cash but this will keep me on board as long as they get us our new engines quickly (and the warranty is transferable & the “cash” is actually cash).

Mark & John - thanks for posting.

mqandil

One more thing regarding the warranty extension, it really should be 18 additional months for people who have taken position of their cars to make it fair, considering that the people who have not received their cars yet, will get the full 5 years warranty where our warranty is expiring slowly as our cars are collecting dust. So extending to 18 months or resetting the clock of when the 5 year warranty starts, to the date you get your car back with new engine is the only fair solution. Again they are not sure and I was told they are debating this issue. Mark

997TTMeteor

Absolutely. They should give you guys an extra 2 years.

0Q991

Totally agree with you, Mark. Frankly, it's easy for them to reset the clock on that and they should. In fact, it should be 2 years for you guys, since the first year of ownership is basically shot for many living in harsher climates.

So, basically, sounds like these calls broadly outline their offer package, but the specifics won't be detailed until the swap takes place?

Clocked

Regarding will we get a check or will the $2k per month be a reduction of the price we pay for the car. I asked that specific question.

Answer: Once you pay for your car PNA will send us a check for the $2k per month once we sign "something". I am sure that "something" will say you have no more rights for money from Porsche due to defective engine matter.

For those of you that think Porsche will give you money first and then have the ability to cancel the car purchase, thing again.

No ticket no washie. No purchase, no compensation.

0Q991

Thanks, Clocked.

Anyone know if we owe taxes on that?

carcommander

Funny, before all this you could probably sold the car for over sticker. 10 to 12k is better than nothing if you just have to have the car. I don't think they get to 100k anytime soon but the 2014 will depreciate some. Just a question of how much and how bad you want the car. IMHO sticker is gone.

As far as a track car goes what did you think was going to be inexpensive the Porsche part or the racing part.

Bluehinder

That really forces people to decide once and for all, are you in or out. Fish or cut bait.

lumber

I wonder how they will address guys that decide to give their cars back right now, that have spent money on clear bra, snow tires etc. Insurance?

Will that be reimbursed? I will be asking...

Jimmy-D

I am no accountant but I believe as long as it is under $9000 Uncle Sam will not find it. Just like at a casino. If you win big you spread the chips to buddies to help cash out so it is less than $9000 each so you hide it.
Now- That is my game but so nobody yell at me if they are doing every thing by the books. Legally some one here who is an accountant will certainly find fault in this but never got me in to trouble

Nick

Loss of use is to compensate us for the lost of use of our cars. It should not be a taxable event.