Dealer auctions!
04-09-2012, 04:41 PM
#1
Intermediate
Thread Starter
Join Date: Mar 2012
Location: Southern California
Posts: 35
Likes: 0
Received 0 Likes
on
0 Posts
Dealer auctions!
I have been looking for a 07-11 911 turbo for a few months,with no luck so far. A friend of mine has a dealer license, and he said we could go to the auctions in the area. How to cars end up at the auctions,and are they infearior to Porsche dealer trade in cars?
04-09-2012, 07:18 PM
#2
They arrive at auction for every reason you can think of. The biggest is to profit from the sale. There is a stigma that they are bad cars dealers want to dump. That is not the case, if there is a problem that is not disclosed the buyer can have it arbitraged to get their money back or the problem fixed.
Dealers use the auction to manage inventory. They buy the vehicles that are selling and sell the ones they could not sell on the lot and still turn a profit while they can.
Yes some cars are straight from Porsche dealers and may even be certified.
Dealers use the auction to manage inventory. They buy the vehicles that are selling and sell the ones they could not sell on the lot and still turn a profit while they can.
Yes some cars are straight from Porsche dealers and may even be certified.
04-09-2012, 09:16 PM
#6
04-09-2012, 11:43 PM
#7
Race Director
They arrive at auction for every reason you can think of. The biggest is to profit from the sale. There is a stigma that they are bad cars dealers want to dump. That is not the case, if there is a problem that is not disclosed the buyer can have it arbitraged to get their money back or the problem fixed.
Dealers use the auction to manage inventory. They buy the vehicles that are selling and sell the ones they could not sell on the lot and still turn a profit while they can.
Yes some cars are straight from Porsche dealers and may even be certified.
Dealers use the auction to manage inventory. They buy the vehicles that are selling and sell the ones they could not sell on the lot and still turn a profit while they can.
Yes some cars are straight from Porsche dealers and may even be certified.
The CPO is only retained if the car is sold (traded in) to a Porsche dealer or sold to an individual.
Cars traded between Porsche dealers retain their CPO status.
Cars sold at Porsche auctions (which can include private auctions held on line is what I was told) can be CPO'd provided of course the car qualifies.
Not all cars that come available on these Porsche auctions qualify for CPO.
A dealer may when it receives the car reject the car if the car requires too much work to bring it to CPO quality.
(Also, I have been told in some cases the factory/PCNA will help cover some CPO expenses if the car is sub-par, but I also was told the help is never quite enough and often the dealer ends up paying more out of pocket to CPO the car than it would like. But with the number of used cars down dealers are hungry for used cars.)
Sincerely,
Macster.
Trending Topics
04-10-2012, 09:13 AM
#9
Rennlist Member
Be careful. The CPO warranty is lost if the car is sold to an auto broker.
The CPO is only retained if the car is sold (traded in) to a Porsche dealer or sold to an individual.
Cars traded between Porsche dealers retain their CPO status.
Cars sold at Porsche auctions (which can include private auctions held on line is what I was told) can be CPO'd provided of course the car qualifies.
Not all cars that come available on these Porsche auctions qualify for CPO.
A dealer may when it receives the car reject the car if the car requires too much work to bring it to CPO quality.
(Also, I have been told in some cases the factory/PCNA will help cover some CPO expenses if the car is sub-par, but I also was told the help is never quite enough and often the dealer ends up paying more out of pocket to CPO the car than it would like. But with the number of used cars down dealers are hungry for used cars.)
Sincerely,
Macster.
The CPO is only retained if the car is sold (traded in) to a Porsche dealer or sold to an individual.
Cars traded between Porsche dealers retain their CPO status.
Cars sold at Porsche auctions (which can include private auctions held on line is what I was told) can be CPO'd provided of course the car qualifies.
Not all cars that come available on these Porsche auctions qualify for CPO.
A dealer may when it receives the car reject the car if the car requires too much work to bring it to CPO quality.
(Also, I have been told in some cases the factory/PCNA will help cover some CPO expenses if the car is sub-par, but I also was told the help is never quite enough and often the dealer ends up paying more out of pocket to CPO the car than it would like. But with the number of used cars down dealers are hungry for used cars.)
Sincerely,
Macster.
04-10-2012, 12:23 PM
#10
Three Wheelin'
As someone who has a dealers license and attends most of the highline/exotic sales held by Manheim I can say that VERY rarely does a quality 997TT pop up. Lots of them are sold, but very few I would want to own...
and the only ones I ever see that meet my (arguably high) standard sell for retail money, so my advice would be to be VERY careful...
and the only ones I ever see that meet my (arguably high) standard sell for retail money, so my advice would be to be VERY careful...
04-10-2012, 02:59 PM
#11
Race Director
http://www.porsche.com/usa/pre-owned...ed/conditions/
The 1st sentence:
Once the covered vehicle is traded or sold to any non-authorized dealer or commercial broker, this warranty is void.
suggests that the warranty remains intact if the car is sold to an authorized dealer.
I would expect the dealer would inspect the car to ensure it still qualified for CPO warranty coverage, but the dealer would inspect the car regardless to know what it was getting.
Now if the car 'failed' to quality for CPO coverage, say the tires were worn or out of date, I'm not sure how much work/money the dealer would do/spend to bring a CPO car back up to CPO level. I could see tires maybe. But I am pretty sure whatever it was the dealer would probably take this into account and offer a lower trade-in allowance for the car.
Sincerely,
Macster.
04-10-2012, 05:42 PM
#12
Rennlist Member
Here's a link to the warranty terms/conditions:
http://www.porsche.com/usa/pre-owned...ed/conditions/
The 1st sentence:
Once the covered vehicle is traded or sold to any non-authorized dealer or commercial broker, this warranty is void.
suggests that the warranty remains intact if the car is sold to an authorized dealer.
I would expect the dealer would inspect the car to ensure it still qualified for CPO warranty coverage, but the dealer would inspect the car regardless to know what it was getting.
Now if the car 'failed' to quality for CPO coverage, say the tires were worn or out of date, I'm not sure how much work/money the dealer would do/spend to bring a CPO car back up to CPO level. I could see tires maybe. But I am pretty sure whatever it was the dealer would probably take this into account and offer a lower trade-in allowance for the car.
Sincerely,
Macster.
http://www.porsche.com/usa/pre-owned...ed/conditions/
The 1st sentence:
Once the covered vehicle is traded or sold to any non-authorized dealer or commercial broker, this warranty is void.
suggests that the warranty remains intact if the car is sold to an authorized dealer.
I would expect the dealer would inspect the car to ensure it still qualified for CPO warranty coverage, but the dealer would inspect the car regardless to know what it was getting.
Now if the car 'failed' to quality for CPO coverage, say the tires were worn or out of date, I'm not sure how much work/money the dealer would do/spend to bring a CPO car back up to CPO level. I could see tires maybe. But I am pretty sure whatever it was the dealer would probably take this into account and offer a lower trade-in allowance for the car.
Sincerely,
Macster.
Can I transfer the warranty?
Should you wish to sell your Porsche, you will also benefit from the Pre-owned Porsche Warranty. The remaining warranty is transferred to the new owner. And this will undoubtedly increase the value of your vehicle.
I've not heard of a buying dealer paying more because the CPO increased the value of the vehicle...but then I've been surprised before. So here's my scenario:
What if Dealer 1 paid for the CPO, sold the car to Buyer 1 who then sold to "authorized" Dealer 2. Dealer 2 sells to new Buyer 2 - the question in my mind then is can Dealer 2 sell the car as a CPO when Dealer 2 didn't conduct the CPO inspection or pay the CPO fee to PCNA? I'll check my CPO paperwork tonight to see if there's any other info. I believe I remember seeing a warranty transfer card so I'll check that too. Maybe one of our dealer board members can chime in too.
04-10-2012, 07:10 PM
#13
I think the authorized Porsche dealer would still keep the certification. However, if this car was sold to a non authorized dealer, the car automatically would loose the certification.
