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Purchase of a used porsche - The process?

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Old 03-29-2006 | 11:27 PM
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Question Purchase of a used porsche - The process?

Assumptions
-Porsche is out of town and requires hotel accommodations and multiple trips.
-Seller & Buyer are very serious.
-BUYER pay cash with wired funds
-SELLER holds clean title
-BUYER not proceed to next step if conditions are not met.

STEPS....
1)Exhaustive screen via phone. BUYER happy.
2)Inform over phone of required PPI. SELLERS agrees.
3)Request VIN#. SELLER agrees.
4)Screen in person. BUYER happy.
5)Make a fair “market offer” MINUS cost of repairs typical for model year of car (i.e. 993 needs top end work, 996 RMS et al) and visible issues. SELLER rejects.
6)Offer to pay MORE if PPI findings warrants higher price. SELLER accepts.
7)Perform PPI at your cost with your mechanic. Assume SELLER accepts.
NOTE: IF SELLER will only use a specific mechanic then propose he share cost of PPI. SELLER accepts.
8)Make adjusted offer (more or less) based on PPI results.

What do you think? Please take off your OWNER HAT and put on your BUYER HAT.
Old 03-29-2006 | 11:30 PM
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Seems OK - If I was buying I'd offer to pay for the SAI check
Old 03-29-2006 | 11:31 PM
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what is a SAI check?
Old 03-29-2006 | 11:44 PM
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Default SAI

SAI

See Link ABove -- Secondary Air Intake -- Blockage or reduction causes CEL ( Check Engine Light ) to come on -- This is in OBD II cars (post 1995) ( On Board Diagnostics) -- Search on SAI and pull up a comfy chair !!
Old 03-29-2006 | 11:50 PM
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See also post SAI codes -- About 10 posts south of this one
Old 03-30-2006 | 12:08 AM
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I would add in:

0) Figure out what you want (colors, models, modifications, mileage etc). The right car is out there, but you're likely to pass by many others along the way.

3.5) Run a Carfax. A clean carfax doesn't guarantee anything, but I've found plenty of cars where a carfax does show some problems the owners "forgot" to mention.

In my experience most owners won't volunteer any information, but if you ask them, many will admit that it's been in a minor accident, or has had some paint work etc. You should still have it checked at a bodyshop if they claim there's no accidents / paint work.

I also recommend searching ebay and the well-known dealers. I found several cases of the same car being listed multiple places sometimes with different prices. I also kept track of the VIN numbers of cars I had looked at because I was starting to forget which ones I had already called about.

I wouldn't travel to see the car before a PPI. I'd have a local rennlister check it out and take some photos.

I'd recommend making a conditional offer before the PPI. You don't want to pay for a PPI on a car where you can't agree on the price. I've never had to sign anything or give a deposit.

If the PPI checks out, travel to the car, look it over with your own eyes and then hand over the money.
Also, I would never do the PPI somewhere suggested by the seller or where the car is currently serviced.
Old 03-30-2006 | 12:21 AM
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I won a bid on Ebay and flew to Tahoe and picked it up, drove it home. Picked it up from a friend of the seller who was staying at the house over a holiday weekend. I didnt even know how to open the engine hood when I picked it up!!

I spent 6 months of doing homework (and still didnt know how to open the hood) so I knew what I was willing to pay and if there were no records, on to the next search. I didnt mess around with flakey dealerships or people. If they didnt know or couldnt find out, I walked. A little more to it than that but I list of records on the car prior to the bid closing. I even called the mechanic that did work on the car. At 33k miles when I bought it and $8k in receits for upgrades recent tune ups, and upgrades, I was satisfied. I even know the days when the car was waxed and detailed. I was dealing with an honest seller and bought his 77 Bronco Sport a year later without even ever driving it. Today, I have 2 sweet rides at the opposite end of the spectrum. Never drove either or saw them in person prior to buying. I almost considered his Escalade last summer but have too many toys already.
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Old 03-30-2006 | 09:37 AM
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Carfax and review owner's records for maintenance and repair issues.
Old 03-30-2006 | 10:05 AM
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If you are buying from a person or unknown dealer, I would highly recommend an independant PPI. Not only of sellers choice, regardless of who pays.

I almost got burned before on the same issue.
Old 03-30-2006 | 10:39 AM
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Pretty much describes the process I went through exactly, except for "Offer to pay MORE". Sellers will ask more than what it's worth -- be sure.

If you adhere to your plan, and take advice from Rennlisters, you are virtually guaranteed a successful 993 buying experience.
Old 03-30-2006 | 11:01 AM
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Originally Posted by zedd06
5)Make a fair “market offer” MINUS cost of repairs typical for model year of car (i.e. 993 needs top end work, 996 RMS et al) and visible issues. SELLER rejects.
I don't think that it is reasonable to deduct the cost of "repairs typical for model year" - that's too hypothetical. What would be fair is to agree on a price and then deduct the cost of "actual" repairs identified during the PPI for this particular car. I am not surprised the seller rejected your proposition.
Old 03-30-2006 | 11:09 AM
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I did an out of town purchase in December.

We came to an essential agrement on price, based on condition as represented. I drove to the buyer's town in a one-way rental car. We conducted a PPI at a mechanic of my choosing. During the PPI we found a few previously unknown faults, so after the PPI, we negotiated a lower price.

I don't think you should make an offer "minus cost of typical repairs". If the car has a current service history (i.e. recent service was done) and no defects in the PPI, then you pay the market rate. If the car has major issues (e.g. SAI), then it's market rate less a discount. If the issues are too significant for you, then you pass.

And like others have said, you would never increase the offer based on a better than expected PPI. That's silly.

I sold a car in similar fashion last year as well. The price was subject to and assumes a clean PPI. The PPI was not used as a means to negotiate a lower price. I put the car up for a fair price, and little problems (like non-working footwell blowers) were not worth either side messing with a couple of hundred dollars here or there.
Old 03-30-2006 | 11:13 AM
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Some good advice here, and since I'm in the process of selling my 993, I'll share what's happened in the couple of weeks since I've gotten serious.

I had an offer right out of the chute. The buyer didn't ask for a PPI, only asked if it ever had been in an accident or painted. I said no, and that was that.The buyer "lowballed it" sight unseen and said he would wire the money and once it cleared he would send a truck to pick it up. It was a little less than I am willing to part with the car for so I refused. But it also raised some red flags to me, as I'm not about to give him my bank acct number for a money transfer. If he would've accepted my counter offer, I would of used an escrow service.

I also am dealing with two other potential buyers. I spoke to one in Colorado last night for almost an hour on my nickel. We talked about "all things Porsche" including the 993. I gave him the VIN, so he could do a Carfax report. He wants to move forward and asked if I would take to the dealer for a PPI and I will. I recomended that he check the PCA website and find a reputable mechanic. He can call tehm with a credit card number and I will take the car there. If that passes (and it should) he will then come out here for a visual and hopefully I'll sign over the pink slip.


Originally Posted by Ty Smith
If you are buying from a person or unknown dealer, I would highly recommend an independant PPI. Not only of sellers choice, regardless of who pays.

I almost got burned before on the same issue.
I agree with this statement. I even told the potential buyer where I had the service done on the car so that when he looks at the paperwork it, there will be no doubt in his mind of the potential conflict of interest.

Good luck, and remember it's not always about the destination, so enjoy the journey.
Old 03-31-2006 | 05:08 PM
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The ideas/suggestions shared are much appreciated. It is extremely valuable to me.

Thanks. zedd06
Old 03-31-2006 | 05:41 PM
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I've purchased and NOT purchased a few cars long distance.

Round trip plane tickets = <$500
1 night in a hotel = <$100
Peace of mind knowing youve found a nice car that passes a mechanical and bodyshop pre-purchase inpection using shops referred by fellow Rennlisters = priceless

best of luck !


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