Superfans

An undertaking to hold on to the car for 2 years is understandable but a "lien" is a big no-no esp if the customer paid in full the purchase price. If the car is fully paid for, how can the dealership to hold a lien over the car ....

Tangerine

The lien thing is strange, but maybe that's what their lawyers suggested to make it stick according to local laws. I agree it sounds a bit much, and maybe there is a better implementation (or maybe the fine print addresses it) but the spirit of what they are going for seems fine.

RealityGT

The guy was going to finance lease through Porsche corp.. that's why i would imagine.

bronson7

It does sound somewhat strange with the lien. Curious to see if this kind of dealership opens up south of the border.

RealityGT

^Agreed Bronson.. But I would imagine if the person would have spoken further with the dealership that some compromise could have been found..
Or just accept the conditions, since he is a net new customer....*shrugs*

SToronto

You're likely right. We also likely don't have the full story. Personally sounds like a great deal if you plan to keep the car and the allocation is guaranteed which its not.

One wouldn't want to sign if they were potentially looking to unload the car within the term period set out in the agreement. I would think dealer would work with the buyer in a trade up scenario, obviously would want to spell that out in the agreement.

Lein is normal in a financing/lease scenario. Porsche Financial would own the car until paid in full.

shizzle

Nope. He would buy outright. That's why the lien is so weird, and without consideration, its hard to even show it would be enforceable.

My buddy was turned off by the whole thing, he basically felt like he was being accused of being a flipper. I don't know what he's going to do, but I don't blame him for being offended.

That's right, Canada goes through PCC. PCC used to go through PCNA to get allocations, but I believe PCC now goes directly to PAG for allocations.

carcommander

The Ferrari dealers have been doing this for a long time. My dealer doesn't do all these shenanigans but I have bought a bunch of cars from them.

STALKER99

This individual was buying the car, so the lien is ridiculous. He is a first time buyer and not a flipper.
Also, why do 918 owners only have to keep cars for a year and they making him basically keep the car for 2 years....sometimes ppls situations change and a 200k GT3 would be first thing to go. A lot can happen in 2 years financially.

I'm not planning on selling my car, if I get one and would sign the document but I do think it's very one sided and leaves a lot of "unknowns" all in the dealers favour.

In Canada the dealers are creating the high prices here on the used market.


I can appreciate the frustration you guys have down south with dealers charging over MSRP, I wouldn't play that game either.

I have a good relationship with my dealer and have not received any indication of when I'm getting one and if there are any "conditions".


Good luck to everyone.

Archimedes

True, but why should he be able to profit from it? They're not asking him to keep the car, just sell it back to them. If you're not a flipper or looking to make money, I don't see why one wouldn't agree to those terms. It's merely ensuring that you're buying a car, not a financial asset.

997rs4.0

Have no problem with the dealer doing this. Just making sure the buyer won't flip the car. If he gets offended there is someone behind him that wants the car @msrp.

And for the part of a lot of things can happen during 2 years, I'm sure the dealer would buy back the car at a reasonable price if something happens during those 2 years.

RealityGT

@shizzle -That's crazy if he was buying out right..
But I truly believe that there is always room for compromise.. however, it does take some effort put into a conversation..

GL to your friend, I hope he finds an allocation that he can build.

STALKER99

Sell it back to them at a value they are determining, then turn around and sell it for over MSRP??? You do see the problem here. I don't like flippers either, but I do take issue with the dealer being able to dictate the value of the car.

Jamie140

I believe Oakville Porsche is adopting a model similar to this. Sell within 2 years and they get first right of refusal at or near MSRP.

I have no problem with this. I buy these stupid things because I love the thrill of the hunt, the exquisite torture of the wait and, finally driving them. I don't need to make money on them.

ExMB

Honestly I find some of the comments here funny; especially the ones saying to agree and sell it back (if the need arises) because the dealer will give a fair value and won't take advantage of you.
Then why does the dealer need this agreement unless they want to assure themselves to make money don't the road.