buy that thing - it's bad *** and a STEAL

 

All over it PissedPuppy,

I have been working with the owner since the PM. PPI scheduled for Friday at Bauer's in Oakland. Hope to fly out shortly there after to claim my prize (pending PPI of course).

I have been looking at these cars on and off since 06 when I joined. Been looking here in H-Town, but the dealers smoke rocks and somehow still move cars.

Tim(Tcc1999) has been great to work with and the car appears to be in excellent condition. I plan a road trip all the way back to Houston with a few stops to help the economy in Vegas etc.

Wish me luck.

 

Glad someone did, mdr. How's the lease takeover process? I'm hoping to find 2009 Cab that's coming a lease in the near future.

 

URAP,

The Lease takeover is not something Tim or I were comfortable with - let me explain why.......

1. You basically have to fill out a credit application for a $100 fee. It takes a week for PFS to complete the application review. (no problem)
2. If they(PFS) approves, then there is a $400 transfer fee. PFS says that the third party assumes all rights and responsibilities of the original lease holder (including buying out the lease at the end of the term, buying out early, or turning the car in at the end of the lease). Still ok with this.
3. Here comes the BS in my opinion - Porsche covers their *** by keeping the original and new lease holder on the lease simultaneously, which presents a bit of a problem from the perspective that both parties have access to the acct and if the new lease holder has some "payment issues" - guess who PFS comes to see/talk to?

In my opinion, #3 makes this a joint account with the original lease holder and not a true transfer.

4. Last requirement is that PFS will not "transfer" the lease in the last 6 months - but I think that has something to do with state laws. In Texas there were tax implications if you held the lease for at lease 180 days - but the tax event was not realized if it was less that 180 days.

In the end, the vehicle has factory warranty for 7 more months - so I opted to buy it out. The title goes to the original lease holder, but in CA if the vehicle is sold within 10 days of exercising the buy-out option - no sales tax is incurred by the original lease holder. I basically drive it home and register, pay tax, etc in Texas without the need to deal with PFS.

Hope this helps.....

 

Don't blame you for not working with PFS.

Yes it helps but can you please explain the buy out process as you're not the original lease holder? And what the final cost was? Was it the $53,001? Thank you for all your help.

Ren
aka URAP

 

Ok gentleman,

Here is the scoop on the PPI...Car had no significant issues... only obligatory question I have is regarding the DME... Here it is, fire away:

Total Hours 793 (18445 miles)
Range1: 51 @ 217hrs
Range2: 1 @ 199hrs
Range3: 1 @ 199hrs
Range4: 1 @ 199hrs
Range5: 1 @ 199hrs
Range6: 0

Should I be concerned about 4 and 5 range over 500 hours ago???

 

Never mind,

I found this after some reading - looks like pewter82 had a very similar reading

https://rennlist.com/forums/997-foru...on-my-ppi.html

so I think my question has already been answered (but I knew this car was very well treated).

 

when you pick up? if I'm in the country, drive it across the bay to SF and I'll buy you a beer!

 

David,

The wife and I am flying in on August 5 (Friday morning) with touch down at 10am. PM me and maybe we can hook up for lunch.


Mark

 

Mark,

Congrats!

Ren

 

Ren,

Sorry this took so long, but the way it worked out was the residual + an amount for the unfulfilled months minus the rental and Use tax. Since I did not do anything with PFS, Tim is handling the buyout and turning around and selling directly to me within the 10 day rule for California(which eliminates tax for the seller). In Tim's original example, he assumed he would have to pay Use tax to California when he quoted the $53001. Since the tax is not on the table, the sale price was a reduced amount. I will still be responsible for the taxes in Texas when it is registered, which will bring the vehicle price close to that neighborhood.

The real issue is that PFS does not allow a third party to do the buyout without jumping through their hoops and paying their fees This is the better deal when you consider all the costs and risks of being added to a "joint account" and potentially having to pay tax twice for out of state lease swaps. if you are in the same state you do not have to pay the use tax on the swap, only the residual if you exercise the buyout option. That is how Texas does it anyway.

 

Good to see this car bought. I was trying to talk a friend into getting it. Also good to see a car going into Houston. Lately, a lot of cars (including mine) were being bought and taken out of the Houston area!

I love SY....I was seriously considering going for this car myself. Even with the low options, this car is a steal!

 

No worries. Glad to see someone bought it. It was very nice of Tim to not let Porsche get a hold of this and mark it up. $53k net is an awesome price on a 2008 CS2.

Enjoy the car and don't forget to take Highway 1 south along the coast heading back to Houston.

 

Uhh, not to be selfish but don't you think I should be the beneficiary of a free beer - if liked beer, that is.

We should do a side by side of our cars (when my new one comes in). You'll know why when you see a picture (and no, it's not the same color as yours). Maybe something at Ft. Point.

Funny no one ever asked why I was disposing of my car in this manner. First, I wanted the satisfaction of sticking it to the man (PAG, PCNA, third party dealer at auction.) and not giving them something they would mark-up. (For everyone who ever felt like they just didn't get the best deal they could have, well, here's ~10K profit the system won't be getting.) Second, to be honest, I'd get killed in taxes on the realized gain if I tried to sell it for a profit. Third, wanted to be an exception to the rule (to those that say you'll never find an '08 S w/ 18K miles for <~55K). And fourth, deposit into the bank of Karma.

 

Tim,

I figured out for the most part why you did it and my hats off to you. I hope I can find someone who thinks the same way when they plan on turning in their 997.2 Cab (hint hint) in the near future. If you're ever down by Fremont hit me up, I'll buy you a beer and round of golf where I work at.

btw, what did you order?

Ren