I'm considering parting ways with my 2021 Carrera S coupe, and I'm considering either consignment with a local high-end dealer, or selling my car back to the local Porsche dealer.

I'm largely considering consignment right now, because oddly enough my local Porsche dealer is not returning emails or calls.

Anyways, any thoughts or insights on your selling experiences would be most welcome!

Cheers!

 

Depends on if you’re trying to work on a deal for a new car.

 

I'm not. I'm considering getting out of Porsche for the moment altogether.

 

I have the same situation coming up. I have a new 992s coming in April and am trying to figure out what the best course is going forward. I currently have a 21 992s. I will be interested in peoples replies.

 

In that case, sell it where you can get the most net profit.

 

We’ve reached a point where many dealers are no longer eager to buy 992s for inventory. That period peaked in the early 2022 when you could basically get MSRP for your car from a dealer and the dealer marked it up from there. That’s likely why your dealer isn’t getting back to you quickly.

If you are looking to get something else, there are tax advantages in most states to trade in your car — you’d only be responsible for sales tax on the delta between your trade and the car purchased. With expensive cars, that savings can be greater than, or least close the gap, with the premium that you would get in selling it through other means.

If you can find a Porsche dealer wanting to buy your car for inventory, that’s probably the least hassle route and quickest. As you aware, it won’t result you getting the most cash.

Consignment at non-Porsche dealer is far less hassle than selling it yourself and can result in more cash than the dealer buying it. I said “can”, because those alternate dealers won’t get as much cash for the car as a dealer. When they take out their cut, you could even end up with less than a trade situation. It won’t be instant cash in hand as many buyers looking at used want a CPO car and a car sitting at the local high end dealer vs a Porsche lot will raise questions, because cars that couldn’t get CPO’d often end up there. Again, impact to value.

It comes down to whether time or money is important to you.

 

I offered to sell my GT4 back to my dealership at MSRP, they typically sell the CPO's for $20K over original MSRP so I felt like it would be a good deal for all. My SA said it would work better if I traded it in for a car they had on the lot. The Sales Manager never retuned my phone calls. So I traded it in at another dealership that had a car I wanted, they sold the GT4 in a week. I don't know why they didn't want to buy it, it would have been easy money for them at a time when there are not many cars available to purchase?

 

Yeah, I know that the market peaked early last year, but I know my dealer doesn't have a ton of 911s in stock. It's no big deal, just a bit of a surprise they haven't reached out about it within a couple days. It's not like it's a base Macan, it's a low-mileage C2S that they can CPO.

 

I experienced both consignment and just selling it back to my local Porsche dealer. In the end (for me) selling it back and just being done with it seemed to be the best course.
It somewhat depends on the agreement you make with your dealer regarding the consignment.

About a 18 months ago I consigned my 2019 GT3RS.
The dealer agreement:
1) Any profit over a predetermine basis cost would be split with the dealer 50-50.
2) You set the sale price and give the dealer a negotiation range from that price.
3) All costs associate with the vehicle (e.g. monthly loan payments, insurance, etc) will be maintained by you
4) Cost associated with the sale (e.g. the costumer requires new tires to close the deal, cost to CPO) would come out of the proceeds
The dealer agrees to handle all the leg work.
In my case the car didn't sell (I guess my ask was too high) and I just canceled the consignment after a couple months and pulled the car back...make sure you have that option

About 18 months later I called the dealer back to see if he would buy it outright...we agreed on a price and the deal was done in a couple of days.
My experience regarding consignment Vs selling outright ... the difference in net cash was a wash.

One side note...not sure how how the sales tax benefit works elsewhere, but in Ohio you have 1 year from the sale of your trade-in to take delivery of your new car to take advantage of only paying sales tax on the delta

 

the market is changing quickly, this is why they were hesitant to take your car at MSRP
and sometimes dealers if they feel that the customer is stuck on a certain price , they avoid the sale as they want to avoid offending you
and GT4 are not selling quickly at 20 k above MSRP at this time .You can site some examples here and there but cars are much harder to move now at a premium unless perfect spec and/or dealers are over paying for trade in.

 

I find it hard to believe a dealer is concerned about offending any seller with an offer.

 

I can see what you are saying, but the dealer I traded in with paid me $3K over original MSRP. They CPO'd the car and sold it in a week and I am guessing they made an easy $10K after the $4800 cost to CPO. But every dealer has a different situation, you just have to find the right dealer.

 

When you do a trade, that’s where the deals can be had. 👍

 

So we are also seeing this in the motorcycle business. I am a sales trainer for Honda motorcycles and what we are seeing from many dealers is in fact not so much greedy dealers, but lazy dealers. You see ever since the start of Covid in 2020, so many dealers (both auto and m/c) have had it so "easy" just "taking orders" that they have completely forgot how to sell and how to respond/treat customers, especially high-line customers. This is why you/we are seeing Salesman and Sales Managers often seeming to not have interest or return calls in a prompt manner. Before Covid, every Salesperson and Sales Manager was "on it" immediately or else the customer simply moved on to another dealer. I'm pretty sure we have all had that Salesman that called us at 8:30 at night to see if we were still interested in his car, right? Anybody finding that happening from our current S/A?.... Nope. Also we are finding dealers that absolutely must make a "grand slam" on every bike they sell or they just blow the customer out. This could be why that the Sales Manager never called you back, if he can't make $20K on purchasing your car, then F it....We are seriously struggling to bring some of these dealers back down to reality of today's market. Suppose they purchased your car and "only" made $12.5K on it? Damn, that's still a $12.5K PROFIT!! My successful dealers are selling everything that we can send them, but, these sharp dealers that are doing this realize that not every deal is a "home run" and understand that and are gaining a customer and said customer leaves happy and not pissed off the way he was at a dealer that would not give a inch on price. Most Rennlist folks would tend to call these dealers "greedy", we call them "lazy" too and honestly what we are witnessing is that many dealers have lost the art of selling and providing the customer with a positive consumer experience and that is what the customers (including us Porsche customers) remember and how this keeps customers loyal to the brand and to our/their dealerships.

 

My dealer bought my 992S for 135K I had 121 into it because they discounted it 9K 130 msrp, when I bought it new.
I sold it to them about a month after I took delivery of a GT 3 touring.
For a while I thought about keeping them both, but it was just stupid.
This was last may I do believe the market is changing. Carl