YL992GTS

All - I ordered a 4GTS Coupe pretty well equipped (177k MSRP) late last year. I’ve unexpectedly been transferred across country leaving CA. Amazingly my housing costs and taxes are going to go WAY up vs where I’m at. Also, with lack of home inventory I’m truly not sure how much I’ll be spending.

I put a 5k deposit and agreed to 8k over MSRP for my allocation. I’m trying to decide whether to buy the car and drive it, then sell if I need to put that money toward a home OR just back out now and lose my 5k. If I find a home similar price to me CA home I’d keep the car.

Given the craziness of the 911 market what is my potential downside on the car? I’d be buying it then potentially selling it 2-3 months later?

thanks for your help

3rdpedal

I think you can likely take delivery and if you have to sell it 2-3 months later at worst break even, if not make a little. $177k MSRP is a bit high but the $8k over MSRP is reasonable and resale on a fairly brand new 992 4GTS should be a no brainer. As long as you didn't get it in Lizard Green with Bordeaux interior or something like that.

Jimmy-D

Is the $5000 not refundable?? I am sure they could sell the car for more than $8,000 over so maybe they will give you your $5000 back

YL992GTS

It’s chalk exterior with black leather and chalk stitching.

YL992GTS

I had a similar thought, but it’s non-refundable

3rdpedal

I can't imagine you will lose money buying it and selling it at some point.

pitt911

by buying it your cost will be 185 K plus taxes , so you will be above 200 k OTD
Even if the market continues to be hot, I seriously doubt you will break even on it
above 200 k for a GTS is a stretch
Some people will say that cars are going for 50 k above sticker , which I think is very rare , more likely 25-30 above sticker with Less than 2 k miles , so close to your break even point and that is retail not trade in

CodyBigdog

Don’t keep it.

If you are moving to a new place and looking to buy something comparable, I would liberate myself from any existing financial burdens until you know what the final price tag is, and all the associated costs of buying a new home and landscaping/furnishing the way you want.

Then, once settled in, if the finances will support, try again. Who knows, by then, you may have entirely new priorities of where to put your money, eg, bigger house, boat, plane, golf CC, etc. Or, the new 992.2 will be coming out.

Jimmy-D

Agree- after paying taxes ect it may be tougher than you think.

I would tell the Dealer your situation that you can pass on the car if they refund the $5000 or you will just flip the car yourself in their local market

Drew46

Tell the dealer what is going on. My guess is they will be happy to gibe you your $5K back and sell the car for more than $8K over in this market. There may be someone on RL that would be happy to take it. Let the dealer know that if they hold you to it, you will just buy the car and flip it right away. I imagine they will give you the non-refundable deposit - or most of it - back.

ipse dixit

If you're in CA, there is no such thing as a "nonrefundable deposit".

In fact, that's true in many states not just CA.

The dealer can say what they want (even put it in writing), but if you put the deposit down with a CA dealer, it's refundable. Period.

mikey94025

Yes to this, one of the benefits of California. All deposits are refundable.

Another alternative, if you feel you will sell the car quickly, is to discuss with the dealer about leasing it. You do not incur the sales tax initial hit and can put very little down up front. You can still get out of the lease early, if the dealership is willing to buy you out (for a price greater than what you currently owe on the lease). In the current market it seems immediately the case.

aggie57

Yep. And like warranties, so-called non-refundable deposits are just the starting point for a discussion.

992gts

i find it amazing your taxes are going way up vs CA. I left after the 13.3% income tax rate plus property tax, gas tax, air tax, water tax, tolls, and on and on. Okay maybe I made up a few of these taxes but when my water bill was over a grand it made me say time to get out!

are you moving to NYC? I cannot imagine a place that costs more and taxes more besides NYC.

YL992GTS

We have a unique property in Orange County on a very special lot. To replicate the feeling in NC where we’re moving our mortgage will be substantially higher (much bigger house) I know, it’s shocking and unbelievable to me as well. Lower taxes will offset some, but not the mortgage differential.