Hello! So, I will very likely be buying a beautiful 2018 GTS by the weekend, trading in my beloved F80 M3. This will be my first 911, and I’m rather excited but I have one question regarding the possibility that I sell it in a couple years:

Because the car will have a lien on it (approx 85% of the value), and because wife and I have been discussing a possible business venture in the next couple years, we are wondering about the ease of selling a 100k plus car with a bank loan. If, say, 18 months out, we want to let it go, has anyone had experience selling their car to a Porsche dealership, and how reasonable are they on buyout pricing? Would likely consider a private sale first, but with the lien I’m concerned that process might be unattractive to buyers. Any thoughts and/or insight would be much appreciated, and thank you!

 

Having a lien doesn't really matter most of the time. All transactions end with you having a check in hand (whether that's from the buyer's cash or a bank, it doesn't matter), and paying off your lien. If you sell your car for under the leftover principle amount, you'll have to cover the difference. Either way, you'll have to wait until the loan's paid off, and finding a way to either mail (or have the bank mail directly) the title to the buyer, along with the signed contracts and paper work. No need to overthink

 

Selling with a loan is not a problem. Selling to a dealer, however, don’t have high expectations on a competitive price compared to the private market. Private market is not that large for 100K+ vehicles. You can likely find some statistics on that.

Anyhow..don’t worry about it too much, once you get in the car you’ll never want to get rid or out of it. 😁

 

I have used Tred.com couple years back when I had to sell my S5 which still had a bank loan on it. They acted as the middle man and completed all the DMV paperwork, paid off my loan and wired me the funds. They also did the background check on both me and the buyer at the time which helped me feel confident about the transaction.

 

As someone who bought a car with a loan attached to it, it's a complete PIA for the buyer. Let me paint a picture for you. Say you sell your GTS for 100k in 18months but owe 85k on it. The buyer can't get the title until the bank gets the funds. The bank then issues the title to you, not the buyer. For the buyer I'm sitting there out 100k and no title so I don't technically own it. We're not talking about 10k here, we're talking 100k. I would not go thru it again, as it was a bit stressful, unless the potential of losing100k is no big deal to you.

In my case, the bank got the funds (I sent it to them directly), but for whatever reason they did not release the title. This literally took me 1.5-2months to resolve. I don't think I'd do it again. Pay it off, get the title, then sell it.

 

I was thinking the same thing about 13 years ago when I bought my first 911. I wanted to make sure I could get out of it. Once you experience driving these cars you’ll never want to be without one. Driving these cars is an experience. It in enhances my life and my happiness. I will never be without a 911. I’ve driven one ever since.

 

If starting a business venture was close, say within the next 3-5 years, and the car wouldn't be paid off by then I'd opt to not buy the car. A successful business venture sounds more appealing longer term. So your choice is drop $100k+ into a depreciating asset (automobile), that also costs money to maintain, i.e., you'll never be net positive after owning a modern P-car. Or, drop $100k+ into a business that will provide positive returns 1-2 years after you pass breakeven. For me it'd be the business venture all the way.

My wife and I have had success at this and it's why we can afford nicer things. We're up in years but I am always thinking long term with our money.

 

That’s part of the discussion we are having, indeed. Need to make a decision by tomorrow and we are leaning Porsche but may opt to just wait. Damn these beautiful, intoxicating cars!!

 

Can't comment on the used car market a year and a half out, but today I can recover > 100% of my original purchase price on my '18 991.2 GTS by selling to the local Porsche dealer. Dealers can easily handle transaction involving liens/bank loans.

 

I have no issue paying a substantial “tax” for driving/owning the car for a couple years, but a scenario where I walk away at barely a loss would be ideal, of course

 

I always pay off a car prior to selling privately and will never buy one with a lien (title not in hand). Titles can take weeks or longer at times, very unappealing either way. Given your circumstances, I suggest not buying the 911.

 

just like STONKS, PORSCHE values only go to the moon bro! 🌝 🚀

 

F80 a manual?

 

Does this business venture include the Porsche as part of the business? You could use it as a write off and basically have the business pay for it? As far as selling it in the future, no one’s going to be able to predict what the market will be. It would be difficult selling privately if you do not have the title in hand as mentioned by others. I ran into this scenario with my current Porsche where I purchased it privately from an individual. He still had a loan on it and it took some legwork to get everything in order. It was a pretty smooth process and it didn’t take long to have the new title in hand. It will take some work on your end should you decide to sell privately down the road. Also, if you trade in, it would be easier as the dealership will handle that part. But you will not get the true value for what it’s worth if trading into a dealership as most cars will depreciate. The real question is how much did it really cost you to drive the vehicle when you owned it.

 

DCT