This IS HOW you stop Flippers
06-06-2010, 03:23 AM
#1
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This IS HOW you stop Flippers
As you guys well know there has been a TON of shennagins going on with the RS, with dealers filling them. Supposedly "an OLD CUSTOMER got the car decided not to keep it so we are selling it for 100K over sticker".
The 997.1's were so hot that tricked down to the GT3 NON RS too. I know of five guys who were long term customers who got of the Porsche game all together because of being shafted by their OWN dealers. I didnt even think of the 997.2 for that very reason. I could have easily bought an RS for MSRP in the 997.1 go round. But midway through the 07 run it was out of control. So when it was time to replace my driver, I didnt even think of the GT3s OR RS. For the reason of what happened in 07 and 08.
Well here is what Lexus is doing. THey are going to make 500 of their LFA models for 2012. They want a COMMITMENT from the buyer NOT TO FLIP the car. Do they trust the customer for that commitment? Nope, Lexus is going to keep the title for two years. So the customer CANT flip the cars.
Does that make sense. I think it does and its a shame that it has to come to this. I think its a pretty damn good idea. It protects Loyal Lexus customers.
I wish Porsche would do that in a hot RS market.
The 997.1's were so hot that tricked down to the GT3 NON RS too. I know of five guys who were long term customers who got of the Porsche game all together because of being shafted by their OWN dealers. I didnt even think of the 997.2 for that very reason. I could have easily bought an RS for MSRP in the 997.1 go round. But midway through the 07 run it was out of control. So when it was time to replace my driver, I didnt even think of the GT3s OR RS. For the reason of what happened in 07 and 08.
Well here is what Lexus is doing. THey are going to make 500 of their LFA models for 2012. They want a COMMITMENT from the buyer NOT TO FLIP the car. Do they trust the customer for that commitment? Nope, Lexus is going to keep the title for two years. So the customer CANT flip the cars.
Does that make sense. I think it does and its a shame that it has to come to this. I think its a pretty damn good idea. It protects Loyal Lexus customers.
I wish Porsche would do that in a hot RS market.
06-06-2010, 05:24 AM
#2
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i don't know how Lexus can do that if customer actually paid in full. well, if true, that's awesome. more power to Lexus. but one thing for sure though, whoever buy the LFA is hell of a loyal customer to Lexus... LOL!
06-06-2010, 12:48 PM
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Yes, the Lexus LFA is a 1 Payment Lease of $237,562.56 see below for details. This is from Autoblog.com: Lease the Lexus LFA for $12,400 per month, $298,000 due at signing
"The monthly lease payment on the Lexus LFA is $12.398.44. For 24 months. That's $297,562.56 worth of lease payments over two years, at the end of which you own nothing. However, Lexus is quick to point out that the LFA's MSRP is $375,000, so you're technically not paying full price. And at the end of 24 months, lessees are free to plunk down an additional $93,750 (more than the base price of a very comparable Nissan GT-R, we should mention) and buy their LFA outright.
Of course, you can't just waltz into your local Lexus dealership with $12,398.44 and rocket waltz out in an LFA. Lexus has to actually select you to lease its (admittedly awesome) car. Once you're chosen, you've got 10 days to drop off a $10,000 deposit at your local Lexus dealer and submit to a credit check. We should mention that this will not be the only deposit and credit check Lexus requires.
Once your credit checks out, you then have to deposit an additional $50,000. To mini-recap, that's $60,000 down on a $375,000 car. Sounds reasonable (from a detached, algebraic ratio perspective) until you remember that you're not buying the car, just leasing it. All of this will be/is happening from March–June 2010. Production of the LFA doesn't start until December. We don't know how long each car will take to build, but customers lessees will be required to go through a second credit check immediately prior to delivery. We're not entirely sure you really want to pass the second credit check. Here's why.
Remember the $12,398.44 per month lease payment we mentioned a couple paragraphs up? That's just the breakdown. All LFAs are being doled out via Lexus' 1Pay Lease Program. Meaning that to lease the LFA, you hand Lexus a check for $237,562.56, which is the full amount of the lease minus your $60,000 pair of deposits. Oh, and there's a $700 "aquisition fee." Plus tax, title, license and registration. The good news? Even though you have to lease the LFA, because of the lengthy approval/deposit process, each car is still made to order. Meaning that even though you don't own the car, you can still order it in Passionate Pink, a $3,000 option. Make the jump to read the pricing guide."
"The monthly lease payment on the Lexus LFA is $12.398.44. For 24 months. That's $297,562.56 worth of lease payments over two years, at the end of which you own nothing. However, Lexus is quick to point out that the LFA's MSRP is $375,000, so you're technically not paying full price. And at the end of 24 months, lessees are free to plunk down an additional $93,750 (more than the base price of a very comparable Nissan GT-R, we should mention) and buy their LFA outright.
Of course, you can't just waltz into your local Lexus dealership with $12,398.44 and rocket waltz out in an LFA. Lexus has to actually select you to lease its (admittedly awesome) car. Once you're chosen, you've got 10 days to drop off a $10,000 deposit at your local Lexus dealer and submit to a credit check. We should mention that this will not be the only deposit and credit check Lexus requires.
Once your credit checks out, you then have to deposit an additional $50,000. To mini-recap, that's $60,000 down on a $375,000 car. Sounds reasonable (from a detached, algebraic ratio perspective) until you remember that you're not buying the car, just leasing it. All of this will be/is happening from March–June 2010. Production of the LFA doesn't start until December. We don't know how long each car will take to build, but customers lessees will be required to go through a second credit check immediately prior to delivery. We're not entirely sure you really want to pass the second credit check. Here's why.
Remember the $12,398.44 per month lease payment we mentioned a couple paragraphs up? That's just the breakdown. All LFAs are being doled out via Lexus' 1Pay Lease Program. Meaning that to lease the LFA, you hand Lexus a check for $237,562.56, which is the full amount of the lease minus your $60,000 pair of deposits. Oh, and there's a $700 "aquisition fee." Plus tax, title, license and registration. The good news? Even though you have to lease the LFA, because of the lengthy approval/deposit process, each car is still made to order. Meaning that even though you don't own the car, you can still order it in Passionate Pink, a $3,000 option. Make the jump to read the pricing guide."
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06-06-2010, 02:01 PM
#9
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Lexus = Toyota no?
Remember they have probelem as they do nit accelerate cannot stop
and can't turn. I wong touch one if it was free.
I don't like flippers. But there's no one to stop them. There's always a one around the rules. But as Chinese say " if u walk in the dark alley long enough you will see ghost ". They will have what's coming to them.
Remember they have probelem as they do nit accelerate cannot stop
and can't turn. I wong touch one if it was free.
I don't like flippers. But there's no one to stop them. There's always a one around the rules. But as Chinese say " if u walk in the dark alley long enough you will see ghost ". They will have what's coming to them.
06-06-2010, 02:57 PM
#10
It seems like most dealers aren't playing the same games with the 997.2 GT3RSs. Rather, these cars appear to be going out at MSRP. If anything, it seems like the dealers are getting burned this time around. I am aware of a few instances where a customer ordered a 997.2 GT3RS to his specification, only to walk when the car arrived because there was no premium to be had (on a possible subsequent flip by said customer). My how times have changed. Obviously a function of the economy. Also, 2 or 3 years ago the then new RS was super "hot" given that it was the first time Porsche had offered an RS in the US, and no one knew whether it would happen again. Now, with gen 2 here, and the RS moniker perhaps being attached to the forthcoming "regular" 991 Carrera, it ain't so hot anymore (at least with the flippers, as opposed to the true aficionados). Just my $0.02.
06-06-2010, 03:28 PM
#11
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Zella
words of wisdom indeed. I plan to order a few more gt3rs. One with no ac one will 80k in option. Then reject them whoa. Those would b tough go sell.
I feel good now.
Was near guaymas last weekend but didn't have ur number. Was tempted to chk out spyder. I love the rear deck with the prop up stick. So old school. I would replace fender bumper light with gt3 pieces put moton on and dive bomb local gt3's.
words of wisdom indeed. I plan to order a few more gt3rs. One with no ac one will 80k in option. Then reject them whoa. Those would b tough go sell.
I feel good now.
Was near guaymas last weekend but didn't have ur number. Was tempted to chk out spyder. I love the rear deck with the prop up stick. So old school. I would replace fender bumper light with gt3 pieces put moton on and dive bomb local gt3's.
06-06-2010, 03:46 PM
#12
LOL!! That would be payback for sure!
You should have e-mailed or pm'd me. 1600 miles now on the Spyder, and it is seriously good. Loving it! In fact, I don't think I've had my RS out since I have taken delivery of the Spyder. Interesting . . .
I like the idea of a mandatory lease for a true hot Porsche, so that they end up in the hands of true enthusiasts. Conversely, I wonder if the dealers could demand forfeitable deposits to prevent the situation you posit. But guessing there may be legal issues with either proposition (e.g., antitrust, state law requirements, etc.)
You should have e-mailed or pm'd me. 1600 miles now on the Spyder, and it is seriously good. Loving it! In fact, I don't think I've had my RS out since I have taken delivery of the Spyder. Interesting . . .
I like the idea of a mandatory lease for a true hot Porsche, so that they end up in the hands of true enthusiasts. Conversely, I wonder if the dealers could demand forfeitable deposits to prevent the situation you posit. But guessing there may be legal issues with either proposition (e.g., antitrust, state law requirements, etc.)
06-06-2010, 05:32 PM
#13
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+1 on Zella. Premiums and flippers are a consequence of a bubble economy. No bubble = no premium and no flippers. Either Lexus is very presumptuous or very passe in their thinking...maybe both.
PS - love all the positive comments about the Spyder from the GT3 community...
PS - love all the positive comments about the Spyder from the GT3 community...
06-06-2010, 08:23 PM
#14
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OP: No you do not want Porsche to do what TM is doing....it will put the RS out of reach to its real fans and allow the ones with very deep pockets to buy them.
Here is what Lexus is doing: you put down $10000 now and $50000 when the car is built..On delivery you sign a 2yr lease and make a single paymeny upfront...NO monthly payments..so you must come up with 80% of the price of the car prior to delivery and after 2yrs you have the option to purchase it at 20% residual.....
How do I know this: I had my name on the list untill I saw what it looked like in person....UGLY no other words to describe it....
BTW: TM is claiming that they will be losing money on every single one of them...hard to believe..
Stick with the Porsche guys even if greedy people try to flip them.
Here is what Lexus is doing: you put down $10000 now and $50000 when the car is built..On delivery you sign a 2yr lease and make a single paymeny upfront...NO monthly payments..so you must come up with 80% of the price of the car prior to delivery and after 2yrs you have the option to purchase it at 20% residual.....
How do I know this: I had my name on the list untill I saw what it looked like in person....UGLY no other words to describe it....
BTW: TM is claiming that they will be losing money on every single one of them...hard to believe..
Stick with the Porsche guys even if greedy people try to flip them.
06-06-2010, 08:52 PM
#15
Former Vendor
When the F430 scuderias came out, ferrari tried the same thing. big frickin joke. everyone said no way, and maybe afer the first handful of customers got saddled with it, noone else went for it, and eventually it was all free title.
lexus might get away with it. you get 30,40 buys saying screw off, they'll drop it like a hot potatoe.
dont take this the wrong way, i think that car could be hot. but that car shouldnt be no 450grand. you get some guy foolish enough to spend 450k on a lexus, just give him the title, and thank your lucky stars.
lexus might get away with it. you get 30,40 buys saying screw off, they'll drop it like a hot potatoe.
dont take this the wrong way, i think that car could be hot. but that car shouldnt be no 450grand. you get some guy foolish enough to spend 450k on a lexus, just give him the title, and thank your lucky stars.