A place to discuss all things ADM
#8191
Basically my situation. Car is a keeper that I got to spec to perfection (to me).
#8192
My dealer has a number of S/T’s and sport classics and Dakars sitting in their back showroom that are owned by the 918 VIP guys - they buy them at msrp and just let them sit in the showroom for a year and then let the dealer sell them for a profit.
#8193
After experiencing the buying process of Tesla, it really makes you think how crappy the dealer model is. Makes me not even want to participate. I have car friends who got their first Tesla and describe what a breath of fresh air it is to buy a car this way. These days, dealers are acting like they are doing you a favor taking your hard earned money when it should be the other way around.
Oh well it is what it is.
Last edited by michaeldorian; 02-01-2024 at 12:56 PM.
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#8194
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#8195
I think a big part of the demand is from people who expect that they can own these cars with little or no depreciation. The more people who believe that, the more it’s true - a self-fulfilling prophecy.
But people who are very concerned about depreciation also tend to not drive their cars much during their ownership stint, which means that there will be more low-miles used cars on the market (more supply), which means Porsche will build less new cars.
But people who are very concerned about depreciation also tend to not drive their cars much during their ownership stint, which means that there will be more low-miles used cars on the market (more supply), which means Porsche will build less new cars.
my dealer sold their two 3RS allocations for 75 K ADM , and my understanding is both guys are trying to flip their cars for a profit
but they are realizing that after taxes and PPF" TO PROTECT YOUR INVESTMENT" this a losing game , and unless they unload quickly for a minimal loss , they are going to get slaughtered
Last edited by pitt911; 02-01-2024 at 01:10 PM.
#8196
agree 100 %
my dealer sold their two 3RS allocations for 75 K ADM , and my understanding is both guys are trying to flip their cars for a profit
but they are realizing that after taxes and PPF" TO PROTECT YOUR INVESTMENT" this a losing game , and unless they unload quickly for a minimal loss , they are going to get slaughtered
my dealer sold their two 3RS allocations for 75 K ADM , and my understanding is both guys are trying to flip their cars for a profit
but they are realizing that after taxes and PPF" TO PROTECT YOUR INVESTMENT" this a losing game , and unless they unload quickly for a minimal loss , they are going to get slaughtered
#8197
I was also told this 918 VIP deal was created when Porsche could not sell those cars back then and offered a deal that gave the buyer msrp on their choice of car for ten years - or some details like that. And the time period is getting close to the end so these vip guys will no longer be able to buy any new model at msrp. The story was that Porsche regrets making this deal and they won’t ever do this again. Back then you could buy most of the standard models at msrp or for even a small discount so this “deal” did not seem that crazy. All to try and find buyers for a model now worth millions.
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#8198
Last edited by sechsgang; 02-01-2024 at 01:24 PM.
#8199
I was also told this 918 VIP deal was created when Porsche could not sell those cars back then and offered a deal that gave the buyer msrp on their choice of car for ten years - or some details like that. And the time period is getting close to the end so these vip guys will no longer be able to buy any new model at msrp. The story was that Porsche regrets making this deal and they won’t ever do this again. Back then you could buy most of the standard models at msrp or for even a small discount so this “deal” did not seem that crazy. All to try and find buyers for a model now worth millions.
#8202
That's my understanding as well with regard to the 918 VIP premium arrangement, but one thing I don't get is this: any such VIP deal is between Porsche and the 918 buyer. Where does the dealer fit into the picture?
The dealer didn't promise to sell 10 years' worth of GT cars for MSRP to anyone, Porsche did that. What obligation does the dealer have to back up Porsche's commitment? Or, when someone takes advantage of the VIP deal, is Porsche forced to pay whatever arbitrary ADM the dealer chooses to tack on?
If so, then yeah, that was a pretty terrible deal for Porsche. They must have been truly desperate to unload those 918s.
The dealer didn't promise to sell 10 years' worth of GT cars for MSRP to anyone, Porsche did that. What obligation does the dealer have to back up Porsche's commitment? Or, when someone takes advantage of the VIP deal, is Porsche forced to pay whatever arbitrary ADM the dealer chooses to tack on?
If so, then yeah, that was a pretty terrible deal for Porsche. They must have been truly desperate to unload those 918s.
#8203
Dealers are in on it as the msrp cars promised still need to be sold through the dealer. Also, the VIP needs to honor the allocations so that was basically 10 years of guaranteed sales of numerous cars to certain individuals at whatever msrp retail margins the dealers normally make. If a VIP renegs on a particular offering they lose their status. The smarter VIPs just established back door deals with their dealer, hence the specialty cars found at some dealers with no miles just waiting for their just date to be sold at arbitrary ADMs. I don't blame either party. That is the beauty of capitalism. Most of us would've taken the deal back in 2015. Especially as the 918 has progressively increased in price, whatever has been spent in prior GT cars, speedsters etc. is offset by the valuation of 1 car. That is almost a no brainer, assuming the original VIP still owns the 918 spyder.
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#8204
Dealers are in on it as the msrp cars promised still need to be sold through the dealer. Also, the VIP needs to honor the allocations so that was basically 10 years of guaranteed sales of numerous cars to certain individuals at whatever msrp retail margins the dealers normally make. If a VIP renegs on a particular offering they lose their status. The smarter VIPs just established back door deals with their dealer, hence the specialty cars found at some dealers with no miles just waiting for their just date to be sold at arbitrary ADMs. I don't blame either party. That is the beauty of capitalism. Most of us would've taken the deal back in 2015. Especially as the 918 has progressively increased in price, whatever has been spent in prior GT cars, speedsters etc. is offset by the valuation of 1 car. That is almost a no brainer, assuming the original VIP still owns the 918 spyder.
#8205
car is 325 k plus 75k ADM = 400 k
7% tax plus dealer fees call that 30 K
PPF 7-10 K
so total is roughly 440 K
so to me even now it is a difficult sell .Lucky to break even or minimal loss , and they have to sell retail rather than whole sale to a dealer , as no dealer will pay 440 k for a 3RS .
and as more cars arrive and prices go down , and I know you believe that this will not happen from the gest of your posts , there is a good chance that they will take a big hit