ExMB

AFAIK I was the only one willing to buy one in the area.

$10k immediately versus service and possible future resale via trade-in; think about it.


My local is that small and only got 2 GT4s and both went out of state. I also bought mine out of state because I got it month earlier than my local got their allocation plus I didn't have to pay the ED up charge that some dealers wanted (Rumor here was that my local wanted the up charge).

disden

wow, the stories on how dealers are treating people are just insane. How can you be in a sales driven business and act in such a manner? Anyone playing around with $150K cars are usually buying other cars too, so it would seem you wouldn't want to jeopardize that business as well.

I am very fortunate to have a good dealer relationship after buying numerous cars. I was immediately called after GT3.2 released. Was told I had a spot at MRSP, just place deposit and wait for the manual build date.

I am sad for all you guys on the coasts that are dealing with these schmucks.

Archimedes

Growth?! Where is this growth you're speaking of?

Cheap money. Plain and simple. The only thing that has driven this asset bubble is cheap money. And the factors that led to the last bubble popping are irrelevant, because the drivers of the last bubble were entirely different.

And as regards delinquencies, as of four hours ago...

“Auto lending risk has been increasing for several quarters because of notable and unprecedented growth across all types of lenders. In the last two quarters, delinquencies on auto loans have begun to increase and net losses have also reflected non-seasonal increases. As banks competed for market share, some banks responded with less stringent underwriting standards for direct and indirect auto loans. In addition to the eased underwriting standards, lenders also substantially layered risks (granted longer terms combined with higher advance rates resulting in higher LTV ratios). These factors increased the credit risk in auto loan portfolios, as well as creating potential fair lending and consumer compliance concerns. This embedded risk is now being reflected in lower recoveries at charge-off (higher loss severities) for both bank loans and securitized auto loans despite relative stability in used auto values (see figure 12).

mass27

Granted, I live in CA, where apparently "car rules" don't apply.

mass27

I'm with Mooty on this issue.

It's too early for scotch...

mcsmcs1

I like the way you think

ChicagoM4

Growth since 2008...

RealityGT

^LoL.. Growth of cheap money?

ChicagoM4

You are only looking at the very short term fluctuations and not looking at the larger picture. Several quarter, or 2 quarters does not represent a trend worth much. See what more data tells you...

NBoost

Epic thread. Mooty, wow, A+ rant, would read again.

MBL287

I don't post much but have been following this thread every day hoping for some V200 love. I thought would share my positive experience with a dealer in the NE. In January of 2015 I inquired about new '15 GT3 that wasat a semi-local dealer (35 miles from me) with whom I had no previous relationship. It was a typical white/pccb/lift/leather car with a upper 150k MSRP. After two emails I was offered the car at 3% off of MSRP. Yes, I wrote that correctly, I was offered a discount on a NEW '15 GT3 in January of 15.

I accepted and paid a $500 deposit to hold the car while I pleaded my case to my wife. Unfortunately my wife reminded me that she wanted a bigger place to keep her junk so I had to pass (still have sleepless nights over it). I told the dealer to hang on to my deposit and let me know when the next one becomes available.

I checked in with the SA in May of 15 when the run of '16s were announced but they did not get any. That was the last I spoke with her until the .2 was announced. I sent her an email asking to see how their list looked. To my surprise I was told that having put that $500 deposit down back in January of '15 was fortuitous as they considered it a standing list and I was second in line. I was told that first in line only wants his car if he can get a MT. And the best part of it all is that they do not sell above MSRP.

The SA said they got a total of six .1 RS's so she anticipates getting quite a few .2 GT3's.

So I ended up 2nd in line at MSRP for $500 at a dealer that I have no relationship with whatsoever other than having backed out of a sweet deal on a '15 two years ago. I assume that doesn't happen in SoCal!

And before anyone asks, she said they stopped taking additional spots because they received so many inquiries.

RealityGT

^Right on!!!

Archimedes

Oh you mean growth in auto sales, driven by cheap money flooding the market by a manipulative central bank? That growth?

I was referring to real growth, you know economic growth, corporate earnings, cash on cash ROI. Strangely those seem to be lagging the growth in asset values...

Archimedes

Aside from the fact that it tells me auto delinquencies, while lower than during the financial crisis, are above historical levels...it's totally irrelevant, because I'm not arguing that people can't pay their loans. I'm arguing that cheap money is the only reason that asset values are where they are, and eventually that has to come to an end or there will be much bigger problems down the road than $250k GT3 RS. You're focused on the issues that created and burst the last bubble. They're entirely, 100 percent different this time. But that doesn't mean there isn't a bubble.

Archimedes

Take a deep breath Francis. I wasn't saying it's worth $200k or that I have any interest negotiating anything, just that MSRP on high dollar cars doesn't mean much of anything, especially during bubble times, and it's not uncommon for cars, especially low volume cars, to deviate from MSRP. Unless you're 12 or have been living under a rock, you can't argue with a straight face that this is unique to Porsche. Hell, Toyota was doing this in the early 90s when they (re)introduced the FJ80 Land Cruiser. Around the same time, Volvo was doing it on their R sedan, etc.

Dealer sets price. If I want, I buy, if I don't, I don't. I have no beef with the dealers (other than those that just sit on cars that aren't selling - that pisses me off). My beef, if any, is with Porsche itself. But I don't have the energy to have any beef about this nonsense. I've got a year to go test drive all the other cars I might buy instead while I wait to hear whether I get a GT3 allocation.