Buying a Car with a Lien on it.
#31
Burning Brakes
991.1 naturally aspirated ,, or 991.2 Turbo?? Manual? PDK? Curious folks want to know------
Best of luck and when it is on the way home,,,,,, of course some photos for the P-geeks among us.....
Best of luck and when it is on the way home,,,,,, of course some photos for the P-geeks among us.....
#32
Rennlist Member
Thread Starter
It's a black 991.1 Cabriolet. I wanted a Coupe but since I sold the wifes Boxster, she insisted it needed to be a Cab. I can live with that. I'm not in love with the color but I can live with that too. Importantly, it has full leather, 18 way seats, and 5 lug wheels. It is meant to be a touring car so I needed the creature comforts and the ability to fix a flat on the side of the road. Centerlocks aren't a big deal, on jackstands in my garage. Planning on driving to the middle of nowhere, 5 lug would be best.
Finding the car with all 3 while not impossible would take some time. Finding all 3 without centerlocks and a better color would take a really long time. I can live with black. The plan is to fly and drive but we're getting pretty deep into winter and I'm not sure about driving north during the end of Jan or beginning of Feb. May have to go the transpor troute. If it snows or gets too cold for the tires, I'll be in big trouble.
#33
P-Dawg.... is this still happening? Did you go look at the car yet?
#34
Rennlist Member
P-Dawg I sent you PM a few days ago asking the same question - Did you buy the new toy?
#35
Consider going through a Porsche dealer, who can sell the car on consignment. I purchased my 997 this way a few months ago. The car had a lien on it. I paid the Porsche dealer for the car, and they sent me on my way that day with temporary registration and license plates, then obtained the title for me within a couple of weeks. I assume there was some fee to the seller involved, but that was invisible to me. Just an idea.
#36
Rennlist Member
Thread Starter
I looked at the car. I brought a paint meter and it checked out. 4-6 mils on every panel and were consistent. Looks like a nice car, 8500 miles on it. Paint looks good. wheels look good. Couple defects in the leather seats inside. CPO'd in 8/'23 so a year and a half left on the warranty. Had a slight tick on the passenger side at cold start up that went away after it warmed up. It had been sitting for months and I assume it's a lifter that bled down. Sounded fine after a drive and ran well. The first thing that will happen when it gets home is an inspection at my local Porsche dealer and they can address any issues. Plus I have a 10 year Fidelity Platinum warranty I bought for it. Due to the low mileage, it was eligible for up to 11 years and the cost for 10 yr/$250 ded was unbelievably inexpensive. I'm not concerned about the tick. It's also possible it was another component and not engine related.
The plan is to Fly back down there the 2nd week of Feb and buy the car. I originally wanted to do the fly and drive thing but after the weather last weekend, no way. I contacted a Porsche centric auto club down there and they have offered to store the car there while waiting for transport. I'm trying to work it out while I'm there, but that's only for 2 full days. The logistics probably won't work. The guy that runs it was great and has bought and shipped cars and knows the challenges. Said someone will make the car available for the shipper when he arrives. It will have a safe and secure home while it waits. The owner is a big Porsche guy and was only too happy to help. I'll mention his business here once I get everything resolved and the car gets here.
That's where everything stands at this point.
#37
Pics or gtfo 😁
Last edited by jbkusa; 01-25-2024 at 08:46 PM.
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Chris M. (01-25-2024)
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#39
Rennlist Member
Good news P-Dawg - Whenever able plz uploads some photos!
#41
Rennlist Member
Thread Starter
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#44
Nordschleife Master
Too long of a thread for me to sort through all the way so maybe this has been brought up already. How old is the car? Someone who can't afford to make the car payments most likely won't keep the car maintained on schedule and as required. Not a car I would consider fwiw.
#45
Rennlist Member
Thread Starter
Too long of a thread for me to sort through all the way so maybe this has been brought up already. How old is the car? Someone who can't afford to make the car payments most likely won't keep the car maintained on schedule and as required. Not a car I would consider fwiw.
Car is a 2016 with 8500 miles on it. It's a CPO car that the owner has had for less than 6 months. He has put 300 miles on it during that time. CPO goes through 9/'25. Total non-issue.
Owner is a long time Porsche owner that had been out of it for a while. I honestly have no idea why he bought the car but the cash flow for him with such a large payment with a full lien seems to be an issue for him. I have 19 months left on the CPO warranty and 9 YEARS, 11 months left on a Fidelity Platinum. I know you understand the value of a Fidelity Platinum Warranty.
FYI to people in the market, buying a Fidelity warranty for a car with under 10,000 miles saves you huge $$$ on it. Plus it gives the availability of much longer terms than cars with over 10k miles The cost of the warranty was $4K. This is a tiny fraction of the purchase price and I can't imagine I won't have at least that much of repair costs in 10 years. If I sell the car, it's transferrable or pro-rated and refunded from Fidelity. Can't loose. This is one of the reasons I was able to get full market price for my Boxster GTS when I sold it privately. Those funds are covering most of this car.
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