Bluehighways

Oh boy! How true!
I suspect this is one big reason why there are Escrow Companies when real estate transactions take place.

Laszlo_Laz

Ditto.

Dealers let you leave the lot with a brand new car with a personal check used in part of the sale.

Also, you’re car is insured who cares.

This is all normal.

JasonNY

Well it's not insured the minute you sign the title over, it's not your car anymore.
Anyways though it looks like from those that have done it, selling to a dealer means delayed payment. Some risk there, something people have to decide if they want to take.

rk-d

If it’s a Porsche dealer, I wouldn’t sweat it.

DeviousDog

Sounds normal to me. I sold my 911 to a local dealer last year. It took a week for me to get the check.

venom51

So was Champion...

malba2366

This is pretty normal, but most of the dealers are desperate for cars right now. Just tell them you have matching offers from Vroom, Carvana etc and if that you require a check at time of delivery of the vehicle. If that takes a few days then they can have the car in a few days.

marrast

I sold a car to Carvana last year and the funds were wired into my bank account the next day. I can't remember if I was given a choice to get a check at handover, but I preferred to have the funds wired and not have to take the time to go to the bank to deposit a check.

ipse dixit

Is this really a concern if it was a Porsche dealer?

Are they really not going to pay you? Even if it is a couple of days out? Like, what are you worried about? That they would skip town?

Even Champion Porsche stood by their customers with the whole GT cars allocation-deposit fiasco.

Laszlo_Laz

Your car is insured until you physically cancel it. I’m sure it’ll be okay.

phila12180

I would have reservations handing my car over without receiving a check but a couple of new car dealers locally are advertising on TV that if they buy your car they will have a check to you in one to two days. There is always some risk but a car dealer that has been in your community for a long time has their reputation to think of and isn't likely to screw you.

Bluehighways

I had a somewhat similar experience many years ago when selling a rather expensive motorcycle. I sold it private party and the buyer paid me with a Cashiers Check. Long story short, the Cashiers Check was a forgery. What saved my A$$ was that I had theft insurance on the motorcycle. What I was lucky enough to learn was that the law considered the taking of my motorcycle under false pretenses (forged Cashiers Check) to be a theft. The whole experience is not something I'd ever want to repeat. However, between the police report and the bank statement, my insurance company reimbursed me all but my deductible. I would imagine that a dealership that engaged in a purchase of a vehicle and then failed to compensate the owner as agreed to in writing, would find themselves in some very serious legal trouble. Based on my experience, I would imagine that it'd be considered a theft by the law and by your insurance company as well.

richjs43

Looks like a lot of skeptics out there…I have traded cars and received a check when I gave the dealer the car (Mercedes dealership). in another case, I pre-traded a car to get the tax advantage and waited 6 months for my new 992 (long story previously noted on Rennslist). There has to be a certain level of trust, frankly, I believe that we are safe with a Porsche dealer….if there is a concern, check what their customers are saying. I deal with 3 Porsche dealers in my area, all trustworthy. I shop them for the best trade and purchase deals.

As a side unrelated to this subject, my 992 was picked up yesterday for PPF. I drove it home on back roads 2 weeks ago, detailed it, put it under car cover and on battery maintainer and patiently waited to get the PPF (difficult getting an appointment at a reputable organization). Lots of Porsches and other marquees getting on the road, resulting in PPF demand). I expect to have my car back at the end of this week, and then I’ll drive the pants off it!!!

Michael_s

This is not covered by insurance. Voluntary parting is not covered.

Laszlo_Laz

I thought the seller should keep it insured until a release of liability is completed. (shrug)