Richard Sloan?
08-20-2010, 02:16 PM
#46
Rennlist Member
I’ve learned to skip on buying cars that are on consignment. Specifically, Sloan is a broker – no more, no less. He has zero risks in these transactions. If he brings a car into his showroom, it doesn’t matter if it falls apart tomorrow, because he does not own it. It is someone else’s problem.
Conversely, dealers like Holt hold title to his entire inventory. What that tells me is that he has checked them out, because he may have to sit on them if the car he brings in turns out to be a lemon. I would still get a PPI done by an independent party, but I’d feel much better about doing business with someone who holds title of the car they sell, free and clear. When I leave with the car, I have in my hands the title of said car. (I have not affiliations with Holt, but just using it as an example to my point.)
Conversely, dealers like Holt hold title to his entire inventory. What that tells me is that he has checked them out, because he may have to sit on them if the car he brings in turns out to be a lemon. I would still get a PPI done by an independent party, but I’d feel much better about doing business with someone who holds title of the car they sell, free and clear. When I leave with the car, I have in my hands the title of said car. (I have not affiliations with Holt, but just using it as an example to my point.)
08-20-2010, 03:52 PM
#47
Rennlist Member
Since I didn't know anyone in the area, I didn't have any problem in dealing with Porsche of Wallingford for the PPI (which Richard suggested.) Before I did it, though, I put it out on either 6speed or Rennlist as to whether or not there was any problem with Porsche of Wallingford. No one had anything bad to say, so I went with it. If they are a reputable dealer, they are not going to incriminate themselves by doing fraudulent PPI's on expensive cars - although it is still fishy and unacceptable to not allow it to be done at the buyer's choice of shop.
I purchased my car from him last year. He is a very personable guy and seemed from a novices point of view very knowledgeable about the 993. I was novice last year and now I know a bit more about what I bought. Being a sales guy he could see that I was not an expert and he made every attempt to help "learn" me. This was a good thing since it took me a good three months to pull the trigger. The issues arose because I was still a novice on the 993 and didn't know enough to ask the right questions at the time. His major push was that he would "take care" of anything that the PPI uncovered. This was great or so it seemed.
My first mistake was taking his word that his local shops and the Wallingford Porsche was the way to go for the PPI. I had my own mechanic picked out locally and Richard offered to have the car transported within reason to wherever I wanted, well, I took him up on the offer to send it to my guy. He later back peddled saying it would cost too much. I spoke directly to the mechanic at Wallingford and he said it was a great car and needed nothing but tires, new windshield (small chip in line of sight), door check and some wear on the seats. He did note a shimmy at speed as well. Richard said he would take care of everything. My second mistake was allowing him to fix the problems. I should have negotiated a fair discount for all of he work, but being very anxious and a novice (idiot), I took his word for it.
There is much more to this story. If anyone wants to hear it, PM me.
08-20-2010, 04:17 PM
#48
Burning Brakes
You make a good point. Always go for the discount and fix the problems yourself. Generally speaking, when someone who is selling a car "takes care of problems" they are always done in the least costly way possible, and you end up with heartbreaking temporary fixes, 15 coats of wax to mask swirled clearcoat, spray painted seats, cheap, non-OEM parts and lipstick carefully applied to various pigs.
08-20-2010, 04:49 PM
#49
If what people here are saying is correct, then I guess what makes me a bit uncomfortable is the way he's presenting his business. No where does Sloan suggest that he is a broker.
http://sloancars.com/
There's no mention of consignment sales and the implication is that he owns all the cars and that they are part of one of the world's biggest collections. I think I'd feel more comfortable dealing with him if he was 100% upfront about his business model.
In addition he claims to have a "stunning and state-of-the-art facility." If you look closely at the pics on the website, it looks like a regular warehouse, and not something particularly "stunning and state-of-the-art."
In comparison, this might be considered more state-of-the-art, imho. Yet they don't even call it that, it's simply their "facilities."
http://www.truspeedmotorcars.com/facilities.php
http://sloancars.com/
There's no mention of consignment sales and the implication is that he owns all the cars and that they are part of one of the world's biggest collections. I think I'd feel more comfortable dealing with him if he was 100% upfront about his business model.
In addition he claims to have a "stunning and state-of-the-art facility." If you look closely at the pics on the website, it looks like a regular warehouse, and not something particularly "stunning and state-of-the-art."
In comparison, this might be considered more state-of-the-art, imho. Yet they don't even call it that, it's simply their "facilities."
http://www.truspeedmotorcars.com/facilities.php
08-20-2010, 08:09 PM
#50
Burning Brakes
I’ve learned to skip on buying cars that are on consignment. Specifically, Sloan is a broker – no more, no less. He has zero risks in these transactions. If he brings a car into his showroom, it doesn’t matter if it falls apart tomorrow, because he does not own it. It is someone else’s problem.
Conversely, dealers like Holt hold title to his entire inventory. What that tells me is that he has checked them out, because he may have to sit on them if the car he brings in turns out to be a lemon. I would still get a PPI done by an independent party, but I’d feel much better about doing business with someone who holds title of the car they sell, free and clear. When I leave with the car, I have in my hands the title of said car. (I have not affiliations with Holt, but just using it as an example to my point.)
Conversely, dealers like Holt hold title to his entire inventory. What that tells me is that he has checked them out, because he may have to sit on them if the car he brings in turns out to be a lemon. I would still get a PPI done by an independent party, but I’d feel much better about doing business with someone who holds title of the car they sell, free and clear. When I leave with the car, I have in my hands the title of said car. (I have not affiliations with Holt, but just using it as an example to my point.)
08-21-2010, 12:21 AM
#52
It's still a warehouse and not a "stunning state-of-the-art" facility, imho.
And is it truly one of the world's largest private collections? Just curious.
Anyway, I guess one should always try to read between the lines. But it's these sort of ambiguous descriptions that sometimes give me pause, personally:
http://www.youtube.com/watch?v=xCHp9YDHyXo
08-21-2010, 01:08 AM
#53
Burning Brakes
I can tell you there is nothing "State of the art" about his building. It is a clean, climate controlled warehouse. He has a preview/detail bay and a large warehouse area where he stores "his" cars. When I was their he had a mobile paint guy spraying several cars in his parking lot. I questioned him about the cheap paint work and he stated they were "touch ups". Painting an entire bumper is not a touch up. The more I read him and think about my visit and experience with a possible 993 purchase from Sloan there more I see him as a fast talking used car sales person. He talks a lot of BS and tries to impress. He rubbed me the wrong way and I walked away and went back home. The round trip plane ticket was cheap insurance and I am glad I bought it. JMHO
