Broker Deals?
01-06-2007, 09:32 PM
#17
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Originally Posted by lexpro
As I understand it, Porsche offers lease returns to dealers first...if no dealer takes it, it goes to the general auction. The broker here may have a relationship with a dealer to get access to the lease returns prior to the auction, or he may just be an auction buyer. Note, however, that the best value lease returns will likely be recognized and purchased by the Porsche dealers when offered by Porsche...so this broker's selection may be the second cut of these cars. Still, they may be good values, but there is obviously a risk in buying an "as-is," no warranty car. The fact that no PPI is available is obviously a red flag, however...(what good is a "post-purchase inspection"?)
i would add to get the vin and check the car's history with carfax before you purchase. if you know someone at your local porsche dealership to run a service history on the car.
01-08-2007, 04:30 AM
#18
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I buy these from the same Riverside auction and my advice is to buy one from a bank such as Chase, BofA, etc, or a dealer consignment such as a BMW dealer selling a Porsche trade. Lease returns from Porsche Financial are cars passed up by the new car store.....usually abused cars.
Only your broker will be able to view the car as the sales are closed to the public and security is like the airport.
The post sale inspection is essential as the car is checked from top to bottom ensuring the car is mechanically as well as structurally sound. If anything comes up in the PSI, the car goes to arbitration and the dealer isn't liable for the purchase....unless the seller disclosed something like frame damage, etc. Basically have him bid on a green light car.....but not one I am bidding on!!
Don't rely on Carfax!!
Only your broker will be able to view the car as the sales are closed to the public and security is like the airport.
The post sale inspection is essential as the car is checked from top to bottom ensuring the car is mechanically as well as structurally sound. If anything comes up in the PSI, the car goes to arbitration and the dealer isn't liable for the purchase....unless the seller disclosed something like frame damage, etc. Basically have him bid on a green light car.....but not one I am bidding on!!
Don't rely on Carfax!!
01-08-2007, 06:03 PM
#20
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Ryan,
Carfax is a good guide to see when/where it was bought to see when the warranty expires, but otherwise isn't accurate as far as number of owners and accident history.
I use a paint meter at the auction to measure paint thickness to detect bondo and prior paintwork and I see a lot of "carfax certified CA 1 owner cars" that are junk. I was looking at a 2006 550i a couple months ago that had a flawless carfax, but the car had a new front end welded on at the strut tower, new right quarter panel welded on, and the entire car was painted.
There are a lot of good cars at the auction though. Make sure you work with someone who knows how to weed through the junk. A PSI is a must and have your mechanic confirm the PSI findings. You have a 7 day or 300 mile guarantee on all cars that go through the PSI. If your mechanic finds anything the PSI missed, the car goes back to arbitration and the buying dealer gets their money back.
I have never had to send a car back that passed the PSI........I have bought cars that failed the PSI (before I invested in the paint meter)
Carfax is a good guide to see when/where it was bought to see when the warranty expires, but otherwise isn't accurate as far as number of owners and accident history.
I use a paint meter at the auction to measure paint thickness to detect bondo and prior paintwork and I see a lot of "carfax certified CA 1 owner cars" that are junk. I was looking at a 2006 550i a couple months ago that had a flawless carfax, but the car had a new front end welded on at the strut tower, new right quarter panel welded on, and the entire car was painted.
There are a lot of good cars at the auction though. Make sure you work with someone who knows how to weed through the junk. A PSI is a must and have your mechanic confirm the PSI findings. You have a 7 day or 300 mile guarantee on all cars that go through the PSI. If your mechanic finds anything the PSI missed, the car goes back to arbitration and the buying dealer gets their money back.
I have never had to send a car back that passed the PSI........I have bought cars that failed the PSI (before I invested in the paint meter)
01-08-2007, 09:14 PM
#21
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Dave Maynard also has a sterling rep in locating quality examples. His biz is called European Locators.
01-09-2007, 12:09 PM
#22
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I'll echo what GHGHG (sp?) said regarding the Carfax - and checking out the car. We are an independant dealer/shop located on the east coast and would be happy to locate clean examples. We have a very nice '03 X50 in stock now and can provide references. 
01-09-2007, 06:36 PM
#23
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Is a paint meter expensive? When buying a car I know that a mechanical PII is important. What about looking for signs that the car was repaired?
Has anyone dealt with Marshall Goldman (Cleveland)? Any experience is appreciated.
-Ryan
Has anyone dealt with Marshall Goldman (Cleveland)? Any experience is appreciated.
-Ryan
01-09-2007, 08:45 PM
#24
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Originally Posted by ryangambrill
Is a paint meter expensive? When buying a car I know that a mechanical PII is important. What about looking for signs that the car was repaired?
Has anyone dealt with Marshall Goldman (Cleveland)? Any experience is appreciated.
-Ryan
Has anyone dealt with Marshall Goldman (Cleveland)? Any experience is appreciated.
-Ryan
01-09-2007, 10:28 PM
#25
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Is the CPO process a standard process that all dealers use? I am thinking that if it is, then I could take a car to my local dealer and just ask them to do it.
Does anyone know or have a checklist of all the steps in this process?
-Ryan
Does anyone know or have a checklist of all the steps in this process?
-Ryan
01-09-2007, 10:34 PM
#26
Burgled
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I have the checklist from the one at the dealer CPO inspection on my car in December I could email you tomorrow after I scan it.
EDIT: Added example of CPO from dealer on my car
EDIT: Added example of CPO from dealer on my car
Last edited by jimq; 01-10-2007 at 09:05 AM.
03-20-2007, 11:06 AM
#28
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If it's too good to be true, it isn't true. Personally, I would pay a few thousand more for a car I could inspect PRE-PURCHASE. Remember, there are lots of people in the used car business, so if these cars are cheap, others have passed on them.
Since you want to own it, not flip it, my advice is to avoid the cheapest deal, and buy the best car. If a 1-owner 02 with verified service history, good inspection, clear DME were $5,000 more, personally, I would take that. You will kick yourself really hard when your new bargain has it's first problem. Just my humble opinion. AS
Since you want to own it, not flip it, my advice is to avoid the cheapest deal, and buy the best car. If a 1-owner 02 with verified service history, good inspection, clear DME were $5,000 more, personally, I would take that. You will kick yourself really hard when your new bargain has it's first problem. Just my humble opinion. AS
