Porsche Allocation process....
04-08-2015, 08:34 AM
#1
Race Car
Thread Starter
Porsche Allocation process....
So I tried to make this as brief as possible and get all my thoughts in.....bear with me....
So I'm new to Porsche (2015 GT3 is my first P-car) and just wondering how the process works.....do these "lists" and deposits really mean anything at all?...is it all just smoke and mirrors?....The reason I ask relates to my story below....I realize this isn't the norm but the fact it even happened when so many want a car is disappointing....
Cliff notes: Gentleman gets slots 2 AND 3 from dealer for a GT4, takes both, sells second car for $60,000 over MSRP plus CA taxes/ fees on Craigslist....
Let me first say I'm all about Capitalism and a free market....I guess my problem is the dealer, for whatever reason, gave him spots 2 and 3 and he posted an ad on Craigslist to sell the 3rd car for $25,000 over sticker and CA taxes after he takes courtesy delivery at another dealer....after some trolling and lots of emails I secured the spot for $60,000 as he told me there were other bids and I needed to come to the table with more money....The ad has since been removed.....I've attached the emails below for your reading pleasure....I have the name of the gentleman, which I will not disclose, and the name of the originating and courtesy dealers....some may not agree with what I did but I got caught up in the game and decided to see it through the end....
One of my questions I guess is this normal SOP for dealers to dole out back to back allocations to clients?...Then have one sold for a huge mark up?....Owning a Ferrari and going thru their process (which is by ne means perfect) I can confidently say this would not happen...while the right of first refusal is not enforceable if you flip the car you can forget about ever getting a new Ferrari at MSRP again....I also understand tracking these cars is easier than tracking Porsche sales due to volume numbers.....
I love the GT4 and am on a couple of lists (as well as GT3 RS) and like many here probably won't get a car....I guess I'm frustrated knowing people are getting 2 cars before some even get one....I wonder what PCNA would think of this situation?....probably nothing.....I'm more curious to know what the dealer would think.....
Here's the abbreviated email trail edited down....In the end a deal was made and the last contact was ironing out the details and a contract....his last email gave me his name, Bank wire instructions for the deposit, and interestingly enough, the name of the originating dealer and the 2 dealers he may use for courtesy delivery.....
Thoughts?
So I'm new to Porsche (2015 GT3 is my first P-car) and just wondering how the process works.....do these "lists" and deposits really mean anything at all?...is it all just smoke and mirrors?....The reason I ask relates to my story below....I realize this isn't the norm but the fact it even happened when so many want a car is disappointing....
Cliff notes: Gentleman gets slots 2 AND 3 from dealer for a GT4, takes both, sells second car for $60,000 over MSRP plus CA taxes/ fees on Craigslist....
Let me first say I'm all about Capitalism and a free market....I guess my problem is the dealer, for whatever reason, gave him spots 2 and 3 and he posted an ad on Craigslist to sell the 3rd car for $25,000 over sticker and CA taxes after he takes courtesy delivery at another dealer....after some trolling and lots of emails I secured the spot for $60,000 as he told me there were other bids and I needed to come to the table with more money....The ad has since been removed.....I've attached the emails below for your reading pleasure....I have the name of the gentleman, which I will not disclose, and the name of the originating and courtesy dealers....some may not agree with what I did but I got caught up in the game and decided to see it through the end....
One of my questions I guess is this normal SOP for dealers to dole out back to back allocations to clients?...Then have one sold for a huge mark up?....Owning a Ferrari and going thru their process (which is by ne means perfect) I can confidently say this would not happen...while the right of first refusal is not enforceable if you flip the car you can forget about ever getting a new Ferrari at MSRP again....I also understand tracking these cars is easier than tracking Porsche sales due to volume numbers.....
I love the GT4 and am on a couple of lists (as well as GT3 RS) and like many here probably won't get a car....I guess I'm frustrated knowing people are getting 2 cars before some even get one....I wonder what PCNA would think of this situation?....probably nothing.....I'm more curious to know what the dealer would think.....
Here's the abbreviated email trail edited down....In the end a deal was made and the last contact was ironing out the details and a contract....his last email gave me his name, Bank wire instructions for the deposit, and interestingly enough, the name of the originating dealer and the 2 dealers he may use for courtesy delivery.....
Thoughts?
Me: Hello....I am interested in the GT4 offer.....Eric
http://losangeles.craigslist.org/wst...917680968.html
Him: Kindly provide me with your other contact information as requested in the ad. Have you already figured out your build configuration on www.porsche.com
Him: Nice build. Carmine Red looks good on the GT4. Right now all North American dealerships are waiting for their allocations from Porsche AG. It should be soon though since European dealerships just got theirs.
Me: So you don't have an allocation yet?
Him: Only owners of 918 spyders that are a part of the Porsche VIP program and have opted to buy GT4s have allocations right now. I am currently #2 in line with my dealer and very confident that I will be getting an allocation.
If you have any doubts or don't want to proceed, please let me know now so that I can proceed contacting others that have emailed me. Thanks.
Me: We're good to go....I just need your name and dealer so I know that the deal is legit and I will send you the 20% deposit....
Him: Eric,
My concern with providing you with my name and the dealership's name at the moment, is that I am in line for another Porsche with the same dealership. I don't want my name and the dealership's name to be advertised or spread around the internet. My Craiglist ad has already appeared in a few blogs and people have been accusing it of being a scam.
Reselling my allocation of the GT4 would be frowned upon by the dealership. If they were to find out, it may jeopardize both build slots. Then we would both be screwed. I hope you can understand my concern with this sensitive issue.
I contacted my salesman this morning and he said that the allocations will be distributed on or around 3/13 to the U.S. dealerships. Once both build slots have been confirmed to me, I will then contact you for the transfer of the funds ($25,000 fee and 20% down payment) and will provide you with my name and the order confirmation from the dealership.
The deal is legit and this is not a scam. I am a long time Porsche owner and enthusiast for over 20 years. But like I said before, if you feel unsure, just let me know so that I can follow up with other people.
Thanks.
Him: Eric,
No unfortunately I do not own a 918.
Here's the latest...
The dealership confirmed 3 allocations for GT4's in 2015. 1 for a 918 owner, 1 for the #1 spot and 1 for the #2 spot (me). The dilemma is that I also have the #3 spot and was hoping that this would be the one that I would personally take. Originally the sales guy projected 3 allocations, but not realizing that the 918 owners would be included. He believed the 918 owners were above and beyond the normal allocation. He also said that he's not sure if they will be getting any more allocations beyond the ones they have. There's a chance, but it is slim at the moment.
I have also read online that Porsche North America is weeding through the waitlists across the country to eliminate people who are on multiple lists.
So ultimately, if I sell my #2 spot then I might be screwing myself out of getting a GT4. With waitlists in the 20 to 40's across the country, it's going to be a fierce battle to find one even in the used market. The offer would have to be "an offer you can't refuse" if I were to give up the sole chance of getting one.
Him: I have not received any further info concerning the second allocation. Still waiting. I do however have a higher offer on the table now
Him: An offer over $50K is needed to beat your competitors
I offered $60K and he came back with this:
Him: Here are a couple options to consider. Option 1 is the definite "lock up" condition. Option 2 still has a bit of risk due to the ever changing allocation drama between dealerships and Porsche corporate. Either option, we would both sign a contract with agreed terms and conditions.
Option 1
$100,000 fee and I walk away from my personal allocation that I have now. GT4 would arrive approximately December 2015.
$25k now
$50k immediately after order submitted
$25k at pickup of vehicle in California
20% of msrp, taxes, fees due at order
80% of msrp, taxes, fees due 1 month before delivery to dealership.
Option 2 (same as discussed previously)
$60,000 fee and you wait to see if 2nd allocation comes in Fall 2015 for 2016 delivery.
$15k now
$30k immediately after order submitted
$15k at pickup of vehicle in California 20% of msrp, taxes, fees due at order
80% of msrp, taxes, fees due 1 month before delivery to dealership.
http://losangeles.craigslist.org/wst...917680968.html
Him: Kindly provide me with your other contact information as requested in the ad. Have you already figured out your build configuration on www.porsche.com
Him: Nice build. Carmine Red looks good on the GT4. Right now all North American dealerships are waiting for their allocations from Porsche AG. It should be soon though since European dealerships just got theirs.
Me: So you don't have an allocation yet?
Him: Only owners of 918 spyders that are a part of the Porsche VIP program and have opted to buy GT4s have allocations right now. I am currently #2 in line with my dealer and very confident that I will be getting an allocation.
If you have any doubts or don't want to proceed, please let me know now so that I can proceed contacting others that have emailed me. Thanks.
Me: We're good to go....I just need your name and dealer so I know that the deal is legit and I will send you the 20% deposit....
Him: Eric,
My concern with providing you with my name and the dealership's name at the moment, is that I am in line for another Porsche with the same dealership. I don't want my name and the dealership's name to be advertised or spread around the internet. My Craiglist ad has already appeared in a few blogs and people have been accusing it of being a scam.
Reselling my allocation of the GT4 would be frowned upon by the dealership. If they were to find out, it may jeopardize both build slots. Then we would both be screwed. I hope you can understand my concern with this sensitive issue.
I contacted my salesman this morning and he said that the allocations will be distributed on or around 3/13 to the U.S. dealerships. Once both build slots have been confirmed to me, I will then contact you for the transfer of the funds ($25,000 fee and 20% down payment) and will provide you with my name and the order confirmation from the dealership.
The deal is legit and this is not a scam. I am a long time Porsche owner and enthusiast for over 20 years. But like I said before, if you feel unsure, just let me know so that I can follow up with other people.
Thanks.
Him: Eric,
No unfortunately I do not own a 918.
Here's the latest...
The dealership confirmed 3 allocations for GT4's in 2015. 1 for a 918 owner, 1 for the #1 spot and 1 for the #2 spot (me). The dilemma is that I also have the #3 spot and was hoping that this would be the one that I would personally take. Originally the sales guy projected 3 allocations, but not realizing that the 918 owners would be included. He believed the 918 owners were above and beyond the normal allocation. He also said that he's not sure if they will be getting any more allocations beyond the ones they have. There's a chance, but it is slim at the moment.
I have also read online that Porsche North America is weeding through the waitlists across the country to eliminate people who are on multiple lists.
So ultimately, if I sell my #2 spot then I might be screwing myself out of getting a GT4. With waitlists in the 20 to 40's across the country, it's going to be a fierce battle to find one even in the used market. The offer would have to be "an offer you can't refuse" if I were to give up the sole chance of getting one.
Him: I have not received any further info concerning the second allocation. Still waiting. I do however have a higher offer on the table now
Him: An offer over $50K is needed to beat your competitors
I offered $60K and he came back with this:
Him: Here are a couple options to consider. Option 1 is the definite "lock up" condition. Option 2 still has a bit of risk due to the ever changing allocation drama between dealerships and Porsche corporate. Either option, we would both sign a contract with agreed terms and conditions.
Option 1
$100,000 fee and I walk away from my personal allocation that I have now. GT4 would arrive approximately December 2015.
$25k now
$50k immediately after order submitted
$25k at pickup of vehicle in California
20% of msrp, taxes, fees due at order
80% of msrp, taxes, fees due 1 month before delivery to dealership.
Option 2 (same as discussed previously)
$60,000 fee and you wait to see if 2nd allocation comes in Fall 2015 for 2016 delivery.
$15k now
$30k immediately after order submitted
$15k at pickup of vehicle in California 20% of msrp, taxes, fees due at order
80% of msrp, taxes, fees due 1 month before delivery to dealership.
04-08-2015, 09:28 AM
#4
It's up to dealers to manage their allocations how they see fit and it's up to customers of those allocations to do with them what they please.
Frankly, I try to do the right thing by my dealer as they always do the right thing by me. As a result, I generally get first pick of all of their GT car allocations but I've had a deposit outstanding for years that we just roll from car to car (it's on the GT2 RS now).
When they called me to ask which RS build month and GT4 build month I wanted from their allocations, I suggested they give the GT4 allocation to another customer so they can keep more than just me happy. I'm next in line if there is a second wave, but might let them give it to someone else instead then too - I don't need to hoard cars just for the sake of it and when the really rare limited run cars come in, perhaps it'll pay off then. If not, I'll still enjoy whatever cars I end up with!
Now are there any guarantees that anything in this email exchange is actually true? Smells a bit like a con to me considering the payment terms.
Frankly, I try to do the right thing by my dealer as they always do the right thing by me. As a result, I generally get first pick of all of their GT car allocations but I've had a deposit outstanding for years that we just roll from car to car (it's on the GT2 RS now).
When they called me to ask which RS build month and GT4 build month I wanted from their allocations, I suggested they give the GT4 allocation to another customer so they can keep more than just me happy. I'm next in line if there is a second wave, but might let them give it to someone else instead then too - I don't need to hoard cars just for the sake of it and when the really rare limited run cars come in, perhaps it'll pay off then. If not, I'll still enjoy whatever cars I end up with!
Now are there any guarantees that anything in this email exchange is actually true? Smells a bit like a con to me considering the payment terms.
04-08-2015, 09:36 AM
#5
Race Car
Thread Starter
It's up to dealers to manage their allocations how they see fit and it's up to customers of those allocations to do with them what they please.
Frankly, I try to do the right thing by my dealer as they always do the right thing by me. As a result, I generally get first pick of all of their GT car allocations but I've had a deposit outstanding for years that we just roll from car to car (it's on the GT2 RS now).
When they called me to ask which RS build month and GT4 build month I wanted from their allocations, I suggested they give the GT4 allocation to another customer so they can keep more than just me happy. I'm next in line if there is a second wave, but might let them give it to someone else instead then too - I don't need to hoard cars just for the sake of it and when the really rare limited run cars come in, perhaps it'll pay off then. If not, I'll still enjoy whatever cars I end up with!
Now are there any guarantees that anything in this email exchange is actually true? Smells a bit like a con to me considering the payment terms.
Frankly, I try to do the right thing by my dealer as they always do the right thing by me. As a result, I generally get first pick of all of their GT car allocations but I've had a deposit outstanding for years that we just roll from car to car (it's on the GT2 RS now).
When they called me to ask which RS build month and GT4 build month I wanted from their allocations, I suggested they give the GT4 allocation to another customer so they can keep more than just me happy. I'm next in line if there is a second wave, but might let them give it to someone else instead then too - I don't need to hoard cars just for the sake of it and when the really rare limited run cars come in, perhaps it'll pay off then. If not, I'll still enjoy whatever cars I end up with!
Now are there any guarantees that anything in this email exchange is actually true? Smells a bit like a con to me considering the payment terms.
shoot me your email address and I'll forward you the contract and terms we agreed upon....the last step was him providing his name and dealer info which he did....not to say he's not trying to con me though.....only true way to tell would be to call the dealer, speak to the GM, and ask if he has spots 2 and 3....
04-08-2015, 09:56 AM
#7
Race Car
Thread Starter
The dealer wasn't posted in the OP....I can however offer it for a fee
....seriously, I can post it....I never signed the contract stating I (or anyone else) wouldn't contact them 
Trending Topics
04-08-2015, 09:57 AM
#8
Rennlist Member
He is not the first guy to sell allocation on craigslist.
There was one locally and words gets around, allocation taken away and blacklisted the individual.
There was one locally and words gets around, allocation taken away and blacklisted the individual.
04-08-2015, 10:09 AM
#10
Race Car
Thread Starter
04-08-2015, 10:16 AM
#11
Three Wheelin'
It should go without saying that buying an allocation is not the same as buying an actual car. I would never pay real money for what amounts to nothing more than a vague promise that may or may not eventually translate into a car. Live by the sword as long as you are prepared to die by the same sword.
04-08-2015, 10:26 AM
#12
Rennlist Member
What a joke. I've purchased 3 Porsches from dealers in the last year and fortunately haven't had it this bad yet. I have a similar background to you and this "process" makes me want to not buy another Porsche. I'm fine with wait lists but the BS around the dealers and markups is ridiculous. On top of that, Porsche's own PTS program is infuriating. If they didn't offer it at all I'd be much happier. I'm next at my dealer for an RS and have no idea if I want it or not.
The GT3 is a great car but the headache associated with purchasing makes it almost not worth it. With Ferrari and Aston, my buying experience has been excellent. Aston even made me cappuccinos while I filled out paperwork
The GT3 is a great car but the headache associated with purchasing makes it almost not worth it. With Ferrari and Aston, my buying experience has been excellent. Aston even made me cappuccinos while I filled out paperwork
04-08-2015, 10:58 AM
#14
Eric, this situation sounds awful. I personally would back away from this, especially seeing as how the seller has changed the terms and asked for more than double what he was originally asking. Who knows what he might demand later on... Be very wary of this kind of guy. Even if it isn't a scam, his behaviour is reproachable. Good luck, and thanks for bringing this to light. I really hope PCNA and/or the dealership steps in and puts a stop to this sort of thing.
04-08-2015, 11:00 AM
#15
scam alert