First Right of Refusal
11-09-2021, 04:46 PM
#16
Rennlist Member
11-09-2021, 07:40 PM
#17
I am taking delivery soon and have been asked to sign this as well. I don’t mind the 2 years right of first refusal, however the no transferring of ownership in first year does. I plan on keeping the car for long term but not being able to transfer the title concerns me
11-09-2021, 08:51 PM
#18
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Thread Starter
I refused to sign and placed my deposit with another dealer that doesn’t use this agreement. Porsche confirmed today that this was a dealer driven initiative, not corporate.
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11-10-2021, 12:19 AM
#20
If I am understanding this correctly, if you want to sell your car within the first two years and you get an offer from someone and the dealer is asking to beat that offer, what is the downside for the owner?
If they want to buy it for more than what someone else is offering , let them. Isn't it a win/win? You want to get rid of the car, they want the opportunity to pay more than any other offer.
Am I missing something here?
If they want to buy it for more than what someone else is offering , let them. Isn't it a win/win? You want to get rid of the car, they want the opportunity to pay more than any other offer.
Am I missing something here?
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Mikster (11-10-2021)
11-10-2021, 12:43 AM
#21
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Thread Starter
Logistics…I list my car For $100k and a buyer says, sure I’ll pay that. I would have to tell them that I need 72 hours to see if my dealer will beat their offer. How is the buyer going to feel about that when he offered to pay my advertised asking price?
or, I get a trade in offer on another car for $100k. Tax savings of 13% nets me $113k. The way the agreement is written, the original dealer just has to beat the $100k, not the $113k.
Bottom line for me is I’m not letting anyone tell me what I can or can’t do with my possessions. Why tie something up when another dealer isn’t making me do that? Also, they wanted me to agree to whatever first right of refusal agreement they have in place at the time of delivery, but they could not tell me what that agreement would be. They reserved the right to modify it based on the market conditions at that time.
or, I get a trade in offer on another car for $100k. Tax savings of 13% nets me $113k. The way the agreement is written, the original dealer just has to beat the $100k, not the $113k.
Bottom line for me is I’m not letting anyone tell me what I can or can’t do with my possessions. Why tie something up when another dealer isn’t making me do that? Also, they wanted me to agree to whatever first right of refusal agreement they have in place at the time of delivery, but they could not tell me what that agreement would be. They reserved the right to modify it based on the market conditions at that time.
Last edited by Onami; 11-10-2021 at 08:11 AM.
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11-10-2021, 12:52 AM
#22
RL Community Team
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If I am understanding this correctly, if you want to sell your car within the first two years and you get an offer from someone and the dealer is asking to beat that offer, what is the downside for the owner?
If they want to buy it for more than what someone else is offering , let them. Isn't it a win/win? You want to get rid of the car, they want the opportunity to pay more than any other offer.
Am I missing something here?
If they want to buy it for more than what someone else is offering , let them. Isn't it a win/win? You want to get rid of the car, they want the opportunity to pay more than any other offer.
Am I missing something here?
All else being equal, I'd rather sell to a dealer than a private party.
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icanthelpit (11-10-2021)
11-10-2021, 01:11 AM
#23
Also it is discourages the flipping activity, then I am all for it. I would have no problem signing something like that.
But I am a car enthusiast, and anything that keeps these cars in the hands of a true enthusiast rather than a flipper, I am all for.
But I am a car enthusiast, and anything that keeps these cars in the hands of a true enthusiast rather than a flipper, I am all for.
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Mikster (11-10-2021)
11-10-2021, 04:30 AM
#24
so who cares, since 2 years is a very short period.. but what stops someone from leasing it and buying out the note the next day. Voila, you own it out right..
11-10-2021, 04:32 AM
#25
plus, how are they validating the offer? “Got an offer for $25mm, care to match? Ok, didn’t think so..”
Last edited by User 81423; 11-10-2021 at 04:36 AM.
11-10-2021, 04:39 AM
#26
Logistics…I list my car For $100k and a buyer says, sure I’ll pay that. I would have to tell them that I need 72 hours to see if my dealer will beat their offer. How is the buyer going to feel about that when he offered to pay my advertised asking price?
or, I get a trade in offer on another car for $100k. Tax savings of 13% nets me $113k. The way the agreement is written, they original dealer just has to beat the $100k, not the $113k.
Bottom line for me is I’m not letting anyone tell me what I can or can’t do with my possessions. Why tie something up when another dealer isn’t making me do that? Also, they wanted me to agree to whatever first right of refusal agreement they have in place at the time of delivery, but they could not tell me what that agreement would be. They reserved the right to modify it based on the market conditions at that time.
or, I get a trade in offer on another car for $100k. Tax savings of 13% nets me $113k. The way the agreement is written, they original dealer just has to beat the $100k, not the $113k.
Bottom line for me is I’m not letting anyone tell me what I can or can’t do with my possessions. Why tie something up when another dealer isn’t making me do that? Also, they wanted me to agree to whatever first right of refusal agreement they have in place at the time of delivery, but they could not tell me what that agreement would be. They reserved the right to modify it based on the market conditions at that time.
I don’t see how this could ever be enforceable in the US. It doesn’t hold up the most basic contract fundamentals.
can we call this dealer, I’m so curious.
Last edited by User 81423; 11-10-2021 at 04:40 AM.
11-10-2021, 05:23 AM
#27
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On the surface it sounds like a fairly reasonable thing. But the adage “The Devil’s in the details” would have me reading the agreement very, Very, VERY carefully prior to signing it.
Last edited by Bluehighways; 11-10-2021 at 05:24 AM.
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westcoastj (11-10-2021)
11-10-2021, 07:11 AM
#28
Three Wheelin'
Why? What contract fundamentals are missing? You have an offer, an acceptance and consideration. ROFRs, ROFOs and such are used in the US market regularly without issue.
Now, I agree that unless the dealer has some way to track the change in ownership through registration or the like - or maybe they find out when the buyer brings it in for service - I am not sure how easy it would be to police.
11-10-2021, 08:31 AM
#30
Rennlist Member
Logistics…I list my car For $100k and a buyer says, sure I’ll pay that. I would have to tell them that I need 72 hours to see if my dealer will beat their offer. How is the buyer going to feel about that when he offered to pay my advertised asking price?
or, I get a trade in offer on another car for $100k. Tax savings of 13% nets me $113k. The way the agreement is written, the original dealer just has to beat the $100k, not the $113k.
Bottom line for me is I’m not letting anyone tell me what I can or can’t do with my possessions. Why tie something up when another dealer isn’t making me do that? Also, they wanted me to agree to whatever first right of refusal agreement they have in place at the time of delivery, but they could not tell me what that agreement would be. They reserved the right to modify it based on the market conditions at that time.
or, I get a trade in offer on another car for $100k. Tax savings of 13% nets me $113k. The way the agreement is written, the original dealer just has to beat the $100k, not the $113k.
Bottom line for me is I’m not letting anyone tell me what I can or can’t do with my possessions. Why tie something up when another dealer isn’t making me do that? Also, they wanted me to agree to whatever first right of refusal agreement they have in place at the time of delivery, but they could not tell me what that agreement would be. They reserved the right to modify it based on the market conditions at that time.
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Onami (11-10-2021)