ADMs dropping
03-19-2023, 04:17 PM
#571
Race Car
Easy money did go away, but there are 10 different ways to arbitrage to get an effective 2% car loan.
Most people that play in the $250k space for a car have the cash sitting to arbitrage this.
Most people that play in the $250k space for a car have the cash sitting to arbitrage this.
03-19-2023, 05:21 PM
#572
Drifting
I wonder what is the real demand these days. I am seeing a buildup in used car inventory on Autotrader website recently.
Here are the observations:
a) there are approx. 149 used/new 2022/2023 GT3 for sale. I thought GT3 is hard to get. Most of these cars have < 2000 miles on it. Dealers are still asking $100K+ above MSRP for an used one
b) in some cases, 2023 “Used” GT3 only has 15 miles on it. Is this the trick to sell to out of state buyers or selling them at “Market” price without charging ADM?
c) Same thing applies to 2022/203 Turbo S. Again, people are saying it is hard to get on the Turbo S waiting list without ADM. There are a lot of “Used” inventory
d) With easy money starting to go away (Crypto, Stock option, high paying tech jobs, layoff), will the 911 demand starts to slow down. Yes, I know some people buy with cash. I wonder what is the % of cash buyers vs lease/loan buyers.
e) Is this the beginning to bring 911 buying experience back to normal?
Here are the observations:
a) there are approx. 149 used/new 2022/2023 GT3 for sale. I thought GT3 is hard to get. Most of these cars have < 2000 miles on it. Dealers are still asking $100K+ above MSRP for an used one
b) in some cases, 2023 “Used” GT3 only has 15 miles on it. Is this the trick to sell to out of state buyers or selling them at “Market” price without charging ADM?
c) Same thing applies to 2022/203 Turbo S. Again, people are saying it is hard to get on the Turbo S waiting list without ADM. There are a lot of “Used” inventory
d) With easy money starting to go away (Crypto, Stock option, high paying tech jobs, layoff), will the 911 demand starts to slow down. Yes, I know some people buy with cash. I wonder what is the % of cash buyers vs lease/loan buyers.
e) Is this the beginning to bring 911 buying experience back to normal?
The following users liked this post:
secondtimer (03-19-2023)
03-19-2023, 05:23 PM
#573
Rennlist Member
^^Porsche Irvine called and emailed last week after telling me in February they couldn’t sell out of state.
03-19-2023, 05:27 PM
#574
03-19-2023, 05:46 PM
#575
Rennlist Member
$25k in February.
03-19-2023, 05:56 PM
#577
Dealers can suck *** after $50,000 over sticker rip offs. They deserve what ever beat down comes their way.
The following users liked this post:
Captain P (03-21-2023)
03-19-2023, 06:19 PM
#578
I wonder what is the real demand these days. I am seeing a buildup in used car inventory on Autotrader website recently.
Here are the observations:
a) there are approx. 149 used/new 2022/2023 GT3 for sale. I thought GT3 is hard to get. Most of these cars have < 2000 miles on it. Dealers are still asking $100K+ above MSRP for an used one
b) in some cases, 2023 “Used” GT3 only has 15 miles on it. Is this the trick to sell to out of state buyers or selling them at “Market” price without charging ADM?
c) Same thing applies to 2022/203 Turbo S. Again, people are saying it is hard to get on the Turbo S waiting list without ADM. There are a lot of “Used” inventory
d) With easy money starting to go away (Crypto, Stock option, high paying tech jobs, layoff), will the 911 demand starts to slow down. Yes, I know some people buy with cash. I wonder what is the % of cash buyers vs lease/loan buyers.
e) Is this the beginning to bring 911 buying experience back to normal?
Here are the observations:
a) there are approx. 149 used/new 2022/2023 GT3 for sale. I thought GT3 is hard to get. Most of these cars have < 2000 miles on it. Dealers are still asking $100K+ above MSRP for an used one
b) in some cases, 2023 “Used” GT3 only has 15 miles on it. Is this the trick to sell to out of state buyers or selling them at “Market” price without charging ADM?
c) Same thing applies to 2022/203 Turbo S. Again, people are saying it is hard to get on the Turbo S waiting list without ADM. There are a lot of “Used” inventory
d) With easy money starting to go away (Crypto, Stock option, high paying tech jobs, layoff), will the 911 demand starts to slow down. Yes, I know some people buy with cash. I wonder what is the % of cash buyers vs lease/loan buyers.
e) Is this the beginning to bring 911 buying experience back to normal?
Last edited by tna3; 03-19-2023 at 06:31 PM.
03-19-2023, 07:20 PM
#579
Yeah. Don’t feed into it. Me personally wanted a 992 GT3 because sure, love the trim and how it drives (had 2 997.2 and 1 991.2). Anyways, got very busy last 2-3 years to chase cars. Went randomly to my Porsche dealership time to time for other Porsches service. Randomly asked for a Cayenne Hybrid 5 month ago for the wife, it appeared at msrp; right spec. Same with a GTS two 3-4 weeks ago. Not only did they turn out to be available right then and there, but msrp, and luckily sure, 99% specced like I would have. lol, even matching colors. But what I’m really getting at is, I didn’t need to pay $300k for a 992 GT3, got two different porches for the same money with different utility. And by doing so removed myself from the adm equation. And man, I’m super impressed with the 992 4GTS MT. Really enjoying both. Weirdest thing is, I don’t miss a GT3 right now. Which is crazy, but lol.
03-19-2023, 07:29 PM
#580
@GT3 You're just honest with yourself, which most people are not. People want the GT3 for the allure of something amazing. But as many reviewers have said, it rides very harsh. Gordon Murray, even said he was surprised Porsche was able to sell it at its current form. And Gordon is someone who is in tune with building the ultimate experiential car. In fact, I think a lot of people will be happy with the GTS and T.
03-19-2023, 09:41 PM
#581
03-19-2023, 10:26 PM
#582
Race Car
03-19-2023, 10:28 PM
#583
Ibonds over 6% right now. Wells Fargo 2 yr 5.25% CD non-callable. Those are the only two I have money in. There are more.
03-19-2023, 11:45 PM
#584
Burning Brakes
In 2009 I had investment bankers on my hockey team begging me to buy their Porsches, I walked into a dealership and got a 911 Cab black edition for 25% off MRSP. The recent ADM and no discount is an anomaly in Porsche history. Not saying those deals that I had are going to happen, but one way I got rich was to be a contrarian. Takes patience and guts. Good luck to you all.
03-20-2023, 12:21 AM
#585
Race Car
In 2009 I had investment bankers on my hockey team begging me to buy their Porsches, I walked into a dealership and got a 911 Cab black edition for 25% off MRSP. The recent ADM and no discount is an anomaly in Porsche history. Not saying those deals that I had are going to happen, but one way I got rich was to be a contrarian. Takes patience and guts. Good luck to you all.
Ironically, these same folks are now the ones hoping for a crash so they can get one at discount. But once again, they’ll get cold feet for the same reason as they did in March 2020.
I’d love to read about your path though, if it’s written anywhere. I enjoy learning about how people got to where they are.