ADMs dropping
12-28-2022, 12:54 AM
#31
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12-28-2022, 01:17 AM
#32
Rennlist Member
I just bought my coupe GTS for 15 over. I had to fight for this. The only problem is that the car broke down 50 miles into my ownership. Sucks. I had found a Targa GTS for 15 over however the MSRP plus the ADM was just way too much for me to justify.
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12-28-2022, 04:35 AM
#33
A new GTS broke down after 50 miles?
12-28-2022, 08:41 AM
#34
Racer
There was a case a few years ago where a new 911 didn't make it home. Champion Porsche in Palm Beach Florida.
12-28-2022, 12:27 PM
#35
Have heard reports from friends in the industry that used car sales in general are slowing dramatically. Dealers are trying to fight it by holding cars back from auction, but inventory is building very quickly. New cars that carried significant ADM's are now going for MSRP. Only a matter of time for the same to happen with 911's.
There is a secondary issue as well where multiple lenders are now waiving the requirement to sell an existing vehicle and removing the existing loan from debt to income calculations. They are basically cutting each other's throats knowing that the new loan will be serviced and the old loan will go to repossession. Will be interesting to watch all this play out over the next few months.
There is a secondary issue as well where multiple lenders are now waiving the requirement to sell an existing vehicle and removing the existing loan from debt to income calculations. They are basically cutting each other's throats knowing that the new loan will be serviced and the old loan will go to repossession. Will be interesting to watch all this play out over the next few months.
12-28-2022, 01:54 PM
#37
I also agreed to 15k for my GTS2...it was a fight as well. In the end I think it's the only reason I got an allocation. I suspect with the fluidity in the markets (financial, cars, etc...) the people ahead (was told 6) passed and they went down the list and I raised my hand. I was initially offered a GTS4, but passed on it and they circled-back later that day with the 2. In the end they would sell at MSRP, but I doubt I would have saw a car for at least 1-2 years. I also somewhat justified the ADM given I early-traded my '22 RS7 for about 7% more (incl tax benefit) than I paid for it...likely also helped grease the deal. In the end I tossed some money out the window, but figured I'll have a car much earlier than expected and will soak up the "wasted" funds enjoying the car today versus years in the future (car is slated to be here end of February).
Last edited by TexasIowan; 12-28-2022 at 01:55 PM.
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12-28-2022, 04:00 PM
#38
RL Community Team
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I also agreed to 15k for my GTS2...it was a fight as well. In the end I think it's the only reason I got an allocation. I suspect with the fluidity in the markets (financial, cars, etc...) the people ahead (was told 6) passed and they went down the list and I raised my hand. I was initially offered a GTS4, but passed on it and they circled-back later that day with the 2. In the end they would sell at MSRP, but I doubt I would have saw a car for at least 1-2 years. I also somewhat justified the ADM given I early-traded my '22 RS7 for about 7% more (incl tax benefit) than I paid for it...likely also helped grease the deal. In the end I tossed some money out the window, but figured I'll have a car much earlier than expected and will soak up the "wasted" funds enjoying the car today versus years in the future (car is slated to be here end of February).
You can always make more money. Time? Not so much.
Enjoy your new car.
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12-30-2022, 02:49 PM
#41
Some dealers haven't got the memo.
I was at Porsche of West Palm Beach and they had 2 new gt3's and a turbos S at $60K over. The fact they had these cars is interesting because in July they didn't have anything new let alone these cars.
12-30-2022, 03:01 PM
#42
Race Car
I don’t think they care about a memo in WPB. Florida folks have money.
12-30-2022, 03:10 PM
#43
Burning Brakes
Interesting thread on TWTR:
I suspect that P-car owners are less exposed, but 37.5% of the market is rather large.
I suspect that P-car owners are less exposed, but 37.5% of the market is rather large.
12-30-2022, 04:55 PM
#44
Race Car
12-30-2022, 05:07 PM
#45
Burning Brakes
Much like any other state. FL is no different as a whole. Some micro pockets might be silly wealthy, however, I doubt the majority of any wealth is spending it on Porsches and worrying.