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Bingo, if you lease the car why do you care what the title says?
Except that no one will probably ever lease one. Sonnen said that Porsche agreed to lease them using residuals and rates from their used car program. Typically, the used residuals are lower and the rates are higher which, given similar selling prices, will result in a higher payment. Will people really want to lease a used GT3 for a higher payment than a brand new one? I wouldn't, but maybe some people would.
Except that no one will probably ever lease one. Sonnen said that Porsche agreed to lease them using residuals and rates from their used car program. Typically, the used residuals are lower and the rates are higher which, given similar selling prices, will result in a higher payment. Will people really want to lease a used GT3 for a higher payment than a brand new one? I wouldn't, but maybe some people would.
The lease from PFS is simply another tool to help a dealer move the cars....it is very clear based on feedback no members here will A) buy these cars at all based on price B) lease these cars because program is no good.
I don't think it will matter these cars will for the most part be gone within the month. I suspect that most will be sold and exported to high demand NO supply areas of the world (vs u.s. High demand low supply) because they will pay a profit and the dealer can turn them quickly.
Our hope in buying one or two of the GT3's was to display one for our new showroom which is opening next month and also if we could get them around invoice we had a few customers willing to purchase a GT3 at a slight discount with the branded titles. As we just received our allocation this week for more GT3's it made less sense for us to over bid on these 2014 cars.....but we are an MSRP store and other dealers are not which may have helped them make a decision on paying sticker price for these cars.....
Thanks, Brett, much appreciated. The simple explanation trumps the convoluted theory. It seems clear that dealers who were willing to buy at or near sticker either have buyers lined up who are willing to pay more than they did, or are willing to take a small loss to keep good customers happy. I'd bet on the former......
Nine of these cars just popped up today on Cars.com.
Our hope in buying one or two of the GT3's was to display one for our new showroom which is opening next month and also if we could get them around invoice we had a few customers willing to purchase a GT3 at a slight discount with the branded titles. As we just received our allocation this week for more GT3's it made less sense for us to over bid on these 2014 cars.....but we are an MSRP store and other dealers are not which may have helped them make a decision on paying sticker price for these cars.....
Here's a portion of the Carfax for one of the cars. Pretty clear status.
05/20/2014 Florida
Motor Vehicle Dept.
Atlanta, GA
Title #0114063567 Dealer took title of this vehicle
while it was in inventory
MANUFACTURER BUYBACK
OR LEMON REPORTED
Vehicle color noted as White
06/09/2014 Porsche Cars North America Manufacturer Voluntary Service Action issued
#WE21 VOLUNTARY SERVICE ACTION - REPLACE WHEEL
HOUSING LINER GT
Thank you Brett for bringing some sanity to this conversation. Good to have confirmation that corporate buybacks are indeed lemons like anyone who took the time to google the subject already would know. Somehow obvious information isn't readily accepted when a conspiracy theory is much more exciting to dream up and discuss.
I'm trying to understand what a branded title means. So previous owner decides he had enuf with car and Porsche decides to buy it back. I assume these cars were run with the old motors and previous owner says "screw the engine swap so on and so on". Porsche buys it back and engine swap done etc. So it's essentially a new car with new engine swap. What's the difference between buybacks and current owners having the same exact thing done? Looking at prices if they were bought close to Msrp other than piece of paper what's wrong with it? Mike
Anyone know what's up with the "transmission computer / module reprogrammed " according to that Carfax?
Carfax is simply reading a line from repair order from dealership when engines were replaced. The original computers were probably reflashed or reset when engines replaced.
I'm trying to understand what a branded title means. So previous owner decides he had enuf with car and Porsche decides to buy it back. I assume these cars were run with the old motors and previous owner says "screw the engine swap so on and so on". Porsche buys it back and engine swap done etc. So it's essentially a new car with new engine swap. What's the difference between buybacks and current owners having the same exact thing done? Looking at prices if they were bought close to Msrp other than piece of paper what's wrong with it? Mike
Just thought I would ad some COLOR to this thread...
That color never gets old.
Originally Posted by 996FLT6
Porsche buys it back and engine swap done etc. So it's essentially a new car with new engine swap.
Only the engine is new. The average mileage on these cars is 730. How would you feel if your dealer told said that before you took delivery of your new GT3 he was going to let a stranger drive it unsupervised for 730 miles?
09-25-2014, 10:50 AM
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