C2S2024

Hello Hello

Long time lurker first time poster. First of all you to everyone for all the useful information. Love the community here.

Heres my question, and I have searched for this and am unable to find an answer. Apologies if I have missed something.

My new C2S is on the Ship to the USA. Have already paid the 10% deposit. I intend to put another 60% down payment and then finance the remaining 30%. The estimated arrival date to the USA port is 17-23 June but the dealer has said there are possible delays at the port. At the moment estimated delivery at the dealership is 28 June and then however long it takes for them to get it ready. My two questions:

1- When is the best time to do the finance application with Porsche? Dealer wants to do now. I dont think i will have any trouble with that. Top teir credit etc.
2- When is the best time to wire my portion of the purchase price to the dealer? The dealer is telling us to do it when we do financing. But to me it seems crazy to wire the funds before they have the car in case something happens to the ship, to the car at the port, during transportation etc.

Background - First time Porsche Owner and no history with the Dealership or Porsche.

Thank you!

C21ban

Doing paperwork ahead of time is fine to ensure everything is in order but I wouldn’t send another dime until the car is at the dealership.

Fishah

I did my financing paperwork when the car hit the port. I definitely wouldn't do it before that. Gives you a few days to get it done, and even if there is a slight hangup at port you will be ok. If you do it now, and the car gets stuck at port for a few weeks, you may have to run credit a second time.

I wired the money the money the day before I went in to sign the paperwork... After the car has been confirmed as arrived at the dealership. If you're wiring from a Tier-1 bank, it should be a 24-hour process or less to get them the funds and you'll all be ready to go just as the car completes PDI.

C2S2024

Thank you!

Jeff Whitten

Great question and we have been through this twice in the last year with delivery import delays.

Tips:

1. You can do better than Porsche financing on rates.
2. Pre-qual with a bank or credit union. They will want to know full purchase price, and financing amount, along with usual application and credit scores.
3. We chose Bank Of America and their process was super easy. Online application, usual quick approval by email, then a short call by phone to confirm details.
4. From there they give you a pre-qual letter with finance rate and term. Good for 30 days.
5. For our portion of the purchase, we did a regular check with our dealer with no issue.

Because we experienced delays we had first pre-qual expire, then simply reapply with a new 30 day window.

Congrats on your soon arriving 911. We are first time 911 owners this year as well. It’s magical and brings extra joy to everyday we admire then in the garage, or drive them (daily).

GT3ZZZ

Of course they are but just ignore them.

I always wait until the car is at the dealership, look it over for any transit damage and check that the spec is correct. Then do the paperwork and pay

shrimp money

I wouldn't transfer any money until the car lands and you can inspect it.

It's 10x harder to get things remedied when they already have your money.

You can get your approval done at your local credit union, or whoever you intend to finance with ahead of time. Waiting until you're in the F&I office and being pressured to take whatever they offer because you're pressured with fake **** like, "if you want to take the car home today, it's just easier to work with one of our lenders" crap.

PSPorsche

I think you’ve receive SOUND advice from RL members, above.

Apply for pre-qualification with outside lender once car arrives at port.

Let your dealer know you will be using outside financing. (Unfortunately, Porsche finance never gives good rates).

Even if you want to use Porsche Financing, let them know you will apply for financing once the car arrives at your dealer. They may push back, telling you it will delay your delivery, but you can wait (while they can’t, because they want their $ ASAP).

Do not wire additional funds to your dealer prior to accepting delivery.

Contact your insurance and give them a heads up that you’ll be adding a vehicle to your insurance (just in case they cannot cover you for some reason). Give them the VIN, so they can let you know the increase, but do NOT add the car until you take possession of the vehicle at the dealer.

CAUTIONARY TALE:

There is a member here on RL who is actually paying for his loan (outside Porsche Finance) AND paying for insurance, but his car has been stuck at port for months! Do not “jump the gun” on this. Be patient. The car cannot be sold to someone else. You have a contract and have paid a down payment.

Good Luck !

C2S2024

Thank you for the amazing advice so far folks! Much appreciated. Will follow advice re: financing and further payment.

Just a question re: inspecting the vehicle. Is this a common practice - i.e. to ask inspect the car at the dealer prior to the delivery day? Have any of you done the same? Can they say no? Will the inspection be done pre or post PDI? Thanks again.

C21ban

My car is due in early next week and I am going to fly out from VA to Chicago to inspect after PDI has been completed. May not be necessary but rather deal with any potential problems as seen by my own eyes before I have it shipped back to me. Probably a bit of overkill but gives me a reason to get out of town for a day, look at car, grab some decent food, and fly back satisfied as long as everything is as expected.

Then I will tell my bank to wire the funds.

2thHappy

after you inspect the car and it is exactly as you specced it, then review paper work. You can start the financing but do not sign until you've seen the car.

2thHappy

I have checked out every car I have purchased then handed the dealer a check. Youd be surprised what youll encounter (hopefully never). Do not give any more money till you've seen the car. You can have outside financing ready to go but dont sign.

AlterZgo

Not only should you inspect the car you should ask to test drive it. My dealer had no problem with me test driving the very car I ordered before I finalized the purchase.

rasetsu

Depends on what your definition of "inspecting" is but of course it's common practice to look over a car before you sign the documents, pay, and take delivery. This goes for any car in any condition from any dealer. No respectable dealer will say no. It's part of the delivery process. They should show you the car first and as mentioned, some may even REQUEST that you test drive it.

The proper process is that you line up your financing/payment method yourself first. Usually a week before you take delivery is fine. When the car arrives at the dealer, let them do the PDI on it as that is the opportunity for them to catch any manufacturing oversights or transport damage to rectify and inform you if so you have the option to decide to continue or not if there is a large enough issue. Then you make an appointment with your sales person to take delivery. Tell them your finance terms if applicable and ask if they can do better. With Porsche, the odds are they cannot. Then you show up to take delivery of the car. This is where the sales person should show the car to you so you can look it all over. I prefer to do this in the morning so there is plenty of daylight to look everything over. If satisfactory, then you do the paperwork. This is where I say no to all the dealer add-ons and give them my payment. If financing, your financial institution should have given you instructions ahead of time as to whether you give them a check or they wire the funds. When that is done, the sales person goes over the features and setup process with the car. Now you can also ask the sales person if there are any gifts they are willing to provide you with. Most will be happy to give you some freebies to ensure a good post purchase survey which is very important to them. They will then shake your hand, remind you to take the survey, and wish you happy trails.

This is pretty much how it goes with any car purchase. Have you never purchased a car before? Is your first car purchase a Porsche? If so, that's pretty wild.

shrimp money

Yes, my car was sitting in showroom and I was able to look it over before signing.