Porsche Financial "First Mile Loyalty" Program
05-13-2009, 09:14 PM
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Porsche Financial "First Mile Loyalty" Program
Hi,
I have a letter from Porsche Finaniclal Services offering special rates through their "First Mile Loyalty" program. Having talked to a dealer, his rates don't seem as good as some of the rates I have see quoted on some of the Porsche Bulletin Boards. I am interested in comparing both lease and purchase rates. A call to Porsche resulted in a "talk to your dealer" response. Anyone able to help with further details? Would love a second opinion, including lease residual numbers.
Thanks.
Mark.
I have a letter from Porsche Finaniclal Services offering special rates through their "First Mile Loyalty" program. Having talked to a dealer, his rates don't seem as good as some of the rates I have see quoted on some of the Porsche Bulletin Boards. I am interested in comparing both lease and purchase rates. A call to Porsche resulted in a "talk to your dealer" response. Anyone able to help with further details? Would love a second opinion, including lease residual numbers.
Thanks.
Mark.
05-14-2009, 02:36 PM
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05-14-2009, 03:31 PM
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Dealers have been given a number of certificates for the LOW rates
Or PCNA sends you the 'special offer'.
They REALLY want to put you behind the wheel!!
Heres the scoop:
Or PCNA sends you the 'special offer'.
They REALLY want to put you behind the wheel!!
Heres the scoop:
Last edited by MJones; 08-03-2010 at 12:36 PM.
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05-14-2009, 10:10 PM
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All due respect Doc, if we're selling the cars for huge discounts, we're entitled to make 'something'. We have to pay bills as well.
Should a dealership 'rake' you over the coals? Hell know. But if you're doing business with someone you respect, don't they deserve something? Hell, what if you're working with one of the most respected girl/guy in the business? I'm sure you'd expect to be taken care of; but would you paymore?
We pay more for "Experts" in the medical field, especially if its a Dr. who doesn't accept Insurance.
I'm sure if Drs. profit margins and annual pay was scrutenized by 'end users' you'd feel the same.
whats worse is Doctors DO know what I'm talking about. Insurance Company's are killing the profession by paying Good Doctors, Great Doctors and **** Poor Doctors - the same.
How's that fair? Its not. But still those 'margins' are NOT privvy to the public. I think that sort of blood bath would result in a major strike by many Physicians.
So on a $100k car, making 1 lousy % on the amount financed isn't asking much. Although there are those who I'm SURE will love to pipe in and say otherwise.
I'm just pointing this out. NOT saying that there isn't a LOT of dealership owners/sales manager/sales people who deserve to be put in their place.
****, I'll help with the stoning....
Should a dealership 'rake' you over the coals? Hell know. But if you're doing business with someone you respect, don't they deserve something? Hell, what if you're working with one of the most respected girl/guy in the business? I'm sure you'd expect to be taken care of; but would you paymore?
We pay more for "Experts" in the medical field, especially if its a Dr. who doesn't accept Insurance.
I'm sure if Drs. profit margins and annual pay was scrutenized by 'end users' you'd feel the same.
whats worse is Doctors DO know what I'm talking about. Insurance Company's are killing the profession by paying Good Doctors, Great Doctors and **** Poor Doctors - the same.
How's that fair? Its not. But still those 'margins' are NOT privvy to the public. I think that sort of blood bath would result in a major strike by many Physicians.
So on a $100k car, making 1 lousy % on the amount financed isn't asking much. Although there are those who I'm SURE will love to pipe in and say otherwise.
I'm just pointing this out. NOT saying that there isn't a LOT of dealership owners/sales manager/sales people who deserve to be put in their place.
****, I'll help with the stoning....
05-15-2009, 06:58 AM
#12
well said! Insurance companies dictate about 95% of what I make. I have overhead, salaries, insurances, rents, CAR PAYMENTS, etc. People bitch when they have to pay us their 20 dollar copay!
Now, I collect the copay before anything! Try going to the grocery store and haggling at the checkout counter!
Now, I collect the copay before anything! Try going to the grocery store and haggling at the checkout counter!
05-15-2009, 10:12 AM
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Chris - you make valid arguments for "we all have to make a reasonable return" our respective businesses.
That said, the issue here is transparency and the related implication of integrity. Buyers who comparison shop will likely feel mislead if they are quoted a higher rate than has been advertised by Porsche financial. Or worse, someone purchases, finances at 3.9%, and then finds out after the fact that the rate could have been 2.9%.
I'd rather have the extra 1% included in the quoted price of the car. Just my 2 cents - (And FYI - I also sell for a living)
That said, the issue here is transparency and the related implication of integrity. Buyers who comparison shop will likely feel mislead if they are quoted a higher rate than has been advertised by Porsche financial. Or worse, someone purchases, finances at 3.9%, and then finds out after the fact that the rate could have been 2.9%.
I'd rather have the extra 1% included in the quoted price of the car. Just my 2 cents - (And FYI - I also sell for a living)
05-15-2009, 10:13 AM
#14
It escapes logic when patients come in and when asked for their co pay they tell us to "bill them" Do you pick up your food at the drive thru McDonalds and tell them to bill you????
Better yet, I had someone who just paid 4K for his dogs cataract surgery roughly 6 times what Illl get for his!
Better yet, I had someone who just paid 4K for his dogs cataract surgery roughly 6 times what Illl get for his!
05-15-2009, 10:38 AM
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Chris - you make valid arguments for "we all have to make a reasonable return" our respective businesses.
That said, the issue here is transparency and the related implication of integrity. Buyers who comparison shop will likely feel mislead if they are quoted a higher rate than has been advertised by Porsche financial. Or worse, someone purchases, finances at 3.9%, and then finds out after the fact that the rate could have been 2.9%.
I'd rather have the extra 1% included in the quoted price of the car. Just my 2 cents - (And FYI - I also sell for a living)
That said, the issue here is transparency and the related implication of integrity. Buyers who comparison shop will likely feel mislead if they are quoted a higher rate than has been advertised by Porsche financial. Or worse, someone purchases, finances at 3.9%, and then finds out after the fact that the rate could have been 2.9%.
I'd rather have the extra 1% included in the quoted price of the car. Just my 2 cents - (And FYI - I also sell for a living)
If a dealer were to try to pass off an additional 1.0% on the finance rate, it would really **** me off. I would think, "Well if they are trying that tactic, is my negotiated price also too high?" In other words, "Are they trying to screw me on both ends?" If they did that, I would walk because they would have destroyed any trust I had in them.