Adm!!??
#151
RL Community Team
Rennlist Member
Rennlist Member
So what's the best way to deal with this situation as a car consumer?
Let's say I'm in the market to buy a Turbo / Turbo S but I'm not ultra-wealthy, but I do have access to funds to purchase, but I have to stretch a bit. Do I pull out all the stops and buy now or should I wait longer?
Let's say I'm in the market to buy a Turbo / Turbo S but I'm not ultra-wealthy, but I do have access to funds to purchase, but I have to stretch a bit. Do I pull out all the stops and buy now or should I wait longer?
If you're 80, go for it. Stretch and get the car you want. Life is short. Literally, if you're 80.
If you're 20, wait. Life is short. But not that short.
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#152
RL Community Team
Rennlist Member
Rennlist Member
So what's the best way to deal with this situation as a car consumer?
Let's say I'm in the market to buy a Turbo / Turbo S but I'm not ultra-wealthy, but I do have access to funds to purchase, but I have to stretch a bit. Do I pull out all the stops and buy now or should I wait longer?
Let's say I'm in the market to buy a Turbo / Turbo S but I'm not ultra-wealthy, but I do have access to funds to purchase, but I have to stretch a bit. Do I pull out all the stops and buy now or should I wait longer?
Does it make sense to wait? Well, the prices of the cars are going up substantially in the fall and interest rates for auto loans will be exiting the "free money" zone in the coming months. ADMs will probably fall substantially, but that'll be offset by those other increased acquisition costs.
If you're older, a homeowner, and got the kids through college, life is short and a little stretch for some fun is par for the course. Life doesn't last forever. If you can count your remaining summers on this earth on your fingers and toes, go for it.
If you're young, pay rent, and get a paycheck from a business that you don't own, stretching to get a new 911 Turbo S doesn't make a lick of sense. Of course, it's your decision to make.
If you're somewhere in between, your definition of "stretch" may vary. For some, that might mean one less week at the place in Martha's Vineyard. For others, that may mean weeks of Ramen between pay checks.
#153
The Turbo/Turbo S cars typically have depreciation greater than the lower trims and that movement in dollars is substantial. The question is really, can you afford that very real depreciation? The tens of thousands of dollars that the car loses when it is driven off of the lot. Yes, I am fully aware that the pandemic upended some of that thinking, but there will be a time where cars depreciate again -- and it's not that far off.
Does it make sense to wait? Well, the prices of the cars are going up substantially in the fall and interest rates for auto loans will be exiting the "free money" zone in the coming months. ADMs will probably fall substantially, but that'll be offset by those other increased acquisition costs.
If you're older, a homeowner, and got the kids through college, life is short and a little stretch for some fun is par for the course. Life doesn't last forever. If you can count your remaining summers on this earth on your fingers and toes, go for it.
If you're young, pay rent, and get a paycheck from a business that you don't own, stretching to get a new 911 Turbo S doesn't make a lick of sense. Of course, it's your decision to make.
If you're somewhere in between, your definition of "stretch" may vary. For some, that might mean one less week at the place in Martha's Vineyard. For others, that may mean weeks of Ramen between pay checks.
Does it make sense to wait? Well, the prices of the cars are going up substantially in the fall and interest rates for auto loans will be exiting the "free money" zone in the coming months. ADMs will probably fall substantially, but that'll be offset by those other increased acquisition costs.
If you're older, a homeowner, and got the kids through college, life is short and a little stretch for some fun is par for the course. Life doesn't last forever. If you can count your remaining summers on this earth on your fingers and toes, go for it.
If you're young, pay rent, and get a paycheck from a business that you don't own, stretching to get a new 911 Turbo S doesn't make a lick of sense. Of course, it's your decision to make.
If you're somewhere in between, your definition of "stretch" may vary. For some, that might mean one less week at the place in Martha's Vineyard. For others, that may mean weeks of Ramen between pay checks.
In other words, I wouldn't let deprecation be the reason you don't get a TT/S.
Last edited by rk-d; 04-26-2022 at 10:51 AM. Reason: Clarified: 991.2 TT/S
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detansinn (04-26-2022)
#154
With consumer confidence softening, interest rate on the rise. Couple folks in Socal backed out of their allocation and their pre-order shining new 992s. Depreciation will be slowly coming back along with ADM phasing out. Just my two cents.
#155
Drifting
Personally I think there is alot of crypto "hot money" in the sports car market right now, that's a major driver of the spend-up ADM craze. I don't think people view appreciation on their primary residences as a trigger to buy a $100K+ car.
#156
Race Car
#157
Not sure if anyone has posted this: https://markups.org
People are cloud sourcing dealer markups. If you search for Porsche these dealers have 0 markup:
Porsche Syracuse
Porsche Marin
Champion Porsche (Florida)
Obviously not a reliable source of information but has anyone purchased from these dealers lately? Would gladly buy cross-country and pay shipping just to give a decent dealer business.
People are cloud sourcing dealer markups. If you search for Porsche these dealers have 0 markup:
Porsche Syracuse
Porsche Marin
Champion Porsche (Florida)
Obviously not a reliable source of information but has anyone purchased from these dealers lately? Would gladly buy cross-country and pay shipping just to give a decent dealer business.
#158
Not sure if anyone has posted this: https://markups.org
People are cloud sourcing dealer markups. If you search for Porsche these dealers have 0 markup:
Porsche Syracuse
Porsche Marin
Champion Porsche (Florida)
Obviously not a reliable source of information but has anyone purchased from these dealers lately? Would gladly buy cross-country and pay shipping just to give a decent dealer business.
People are cloud sourcing dealer markups. If you search for Porsche these dealers have 0 markup:
Porsche Syracuse
Porsche Marin
Champion Porsche (Florida)
Obviously not a reliable source of information but has anyone purchased from these dealers lately? Would gladly buy cross-country and pay shipping just to give a decent dealer business.
It is only a matter of time before dbag car dealers go on there and report that their dealership has no markup, or that other dealers have markup....probably the case for Champion Porsche which is known to be a pretty scammy place.
#159
Drifting
#160
Rennlist Member
Very nice SA at Marin Porsche HOWEVER they didn’t have any new inventory AND they were 10% over on orders.
In all fairness maybe that has all changed in the last couple Days
In all fairness maybe that has all changed in the last couple Days
#161
Drifting
So if things do "loosen up", how will we know? The dealers aren't going to publicize that people are cancelling their pre-orders because of economic concerns. And alot of dealers have turned potential buyers away with what has been going on, you wonder how deep their wait lists are if suddenly buyers with deposits in queue (and let's face it, alot of them are flippers trying to make a quick profit), start dropping out. And for people with negotiated ADMs, do they get to re-negotiate those if market conditions change, or are they contractually committed to their ADMs?
Last edited by nyca; 04-26-2022 at 09:35 PM.
#162
So if things do "loosen up", how will we know? The dealers aren't going to publicize that people are cancelling their pre-orders because of economic concerns. And alot of dealers have turned potential buyers away with what has been going on, you wonder how deep their wait lists are if suddenly buyers with deposits in queue (and let's face it, alot of them are flippers trying to make a quick profit), start dropping out. And for people with negotiated ADMs, do they get to re-negotiate those if market conditions change, or are they contractually committed to their ADMs?
#163
Drifting
So if things do "loosen up", how will we know? The dealers aren't going to publicize that people are cancelling their pre-orders because of economic concerns. And alot of dealers have turned potential buyers away with what has been going on, you wonder how deep their wait lists are if suddenly buyers with deposits in queue (and let's face it, alot of them are flippers trying to make a quick profit), start dropping out. And for people with negotiated ADMs, do they get to re-negotiate those if market conditions change, or are they contractually committed to their ADMs?
My dealership agreed to a percentage below MSRP last April, however, I saw the market conditions continuing in a direction that was not in my favor. I was concerned that the terms would change when my car was delivered 3 weeks ago. I mentally prepared myself for the terms to be changed to MSRP or at least a $10k ADM (…I was already emotionally committed and I had no plans to walk away after selling my M4 and waiting a full year), but thankfully the terms were upheld and I purchased under MSRP in today’s crazy market. Sure, I didn’t get the 6-8% off MSRP that MY2020 buyers were able to achieve, but I saved $3500 off of the MSRP of my 992 C2S. No complaints here.
Last edited by M3Inline6; 04-26-2022 at 11:25 PM.
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#164
i went into Marin early in my search, asked to see a 992 and the salesman walked me out to a 2017 911. I asked what that was and he said a 992. I’m sure there great but I couldn’t get past that one and moved on.