The purchase of a used porsche - The process?
03-29-2006, 11:41 PM
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The purchase of a used porsche - The process?
Assumptions
-Porsche is out of town and requires hotel accommodations and multiple trips.
-Seller & Buyer are very serious.
-BUYER pay cash with wired funds
-SELLER holds clean title
-BUYER not proceed to next step if conditions are not met.
STEPS....
1)Exhaustive screen via phone. BUYER happy.
2)Inform over phone of required PPI. SELLERS agrees.
3)Request VIN#. SELLER agrees.
4)Screen in person. BUYER happy.
5)Make a fair “market offer” MINUS cost of repairs typical for model year of car (i.e. 993 needs top end work, 996 RMS et al) and visible issues. SELLER rejects.
6)Offer to pay MORE if PPI findings warrants higher price. SELLER accepts.
7)Perform PPI at your cost with your mechanic. Assume SELLER accepts.
NOTE: IF SELLER will only use a specific mechanic then propose he share cost of PPI. SELLER accepts.
8)Make adjusted offer (more or less) based on PPI results.
What do you think? Please take off your OWNER HAT and put on your BUYER HAT.
-Porsche is out of town and requires hotel accommodations and multiple trips.
-Seller & Buyer are very serious.
-BUYER pay cash with wired funds
-SELLER holds clean title
-BUYER not proceed to next step if conditions are not met.
STEPS....
1)Exhaustive screen via phone. BUYER happy.
2)Inform over phone of required PPI. SELLERS agrees.
3)Request VIN#. SELLER agrees.
4)Screen in person. BUYER happy.
5)Make a fair “market offer” MINUS cost of repairs typical for model year of car (i.e. 993 needs top end work, 996 RMS et al) and visible issues. SELLER rejects.
6)Offer to pay MORE if PPI findings warrants higher price. SELLER accepts.
7)Perform PPI at your cost with your mechanic. Assume SELLER accepts.
NOTE: IF SELLER will only use a specific mechanic then propose he share cost of PPI. SELLER accepts.
8)Make adjusted offer (more or less) based on PPI results.
What do you think? Please take off your OWNER HAT and put on your BUYER HAT.
Last edited by zedd06; 03-30-2006 at 07:17 AM.
03-30-2006, 08:09 AM
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Been there, done it very similar, only that I travelled to the car, and both seller and I were present during PPI, then we went to the bank and exchanged check versus title...
03-31-2006, 12:42 PM
#3
Drifting
It's a tough one. I paid for several PPI's before getting my current car. Best bet to find a shop is to go to www.pca.org and email some of the folks listed in the region the car is on. They will either recommend a shop or two or forward your request to another member. You could also post a "Where to PPI thread in ___________?" thread here and on Pelican.
Just remember, we all want to believe our car is worth more than anyone else's so it is always a battle to get your price. BTDT and trying to do that with my Saleen XP8. Everyone loves the truck, but nobobdy is offering what I want.
Just remember, we all want to believe our car is worth more than anyone else's so it is always a battle to get your price. BTDT and trying to do that with my Saleen XP8. Everyone loves the truck, but nobobdy is offering what I want.
04-01-2006, 08:26 PM
#4
Here is what i think the following questions should be handled..
5)-Deducting the cost of the usual model specific issues esp before the PPI is not fair.If the car checks out fine then why deduct the cost and if you think the car will have those issues then why even bother buying the car
7)-The buyer always pays for the PPi,period.
Hope that helps.
5)-Deducting the cost of the usual model specific issues esp before the PPI is not fair.If the car checks out fine then why deduct the cost and if you think the car will have those issues then why even bother buying the car
7)-The buyer always pays for the PPi,period.
Hope that helps.
04-02-2006, 05:36 PM
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#5. My two cents here. If seller discloses known issues at time of advertising, they are incorporated in asking price and/or any offer you make up front. PPI is for discovering unknown or undisclosed issues. Depending on what's discovered in PPI it's fair game to use as a negotiating point. As a buyer my personal approach is to ignore really minor things, offer to split the cost of major things (as long as I think the seller really didn't know about it), and will walk away if there's anything seriously wrong.
I once did a PPI on a car (not a Porsche) and found a bunch of things wrong, including undisclosed bodywork from a couple of accidents (seller had disclosed one accident only). The seller refused to budge, so I walked away. He actually said "no, I won't reduce price, I'll wait for a buyer that's not as diligent in finding this car's faults." Moral: ALWAYS do a PPI.
I once did a PPI on a car (not a Porsche) and found a bunch of things wrong, including undisclosed bodywork from a couple of accidents (seller had disclosed one accident only). The seller refused to budge, so I walked away. He actually said "no, I won't reduce price, I'll wait for a buyer that's not as diligent in finding this car's faults." Moral: ALWAYS do a PPI.
04-05-2006, 11:55 PM
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Good thread. Over the past three years I have purchased 8 Porsches and have sold 7 so I've been on both sides of the aisle. You seem to have very carefully thought through the process. I would agree with Yasir about point #5. These cars are owned & maintained by very different people. I had a 1980 SC that was literally better than new(because of prior owner care) and been in leased 996's that are thrashed with the absolute minimum maintenance or care. There is no substitute to seeing the car in person and in driving it. Needless to say an independent PPI is a necessity. In the 7 cars I have sold, only 1 buyed came to see & drive the car. None asked for a PPI!
As an aside I recently sold a 944 turbo s with 1300 miles to a gentleman in NYC. This is the 3rd car that he purchased from me. Never drove the cars, never wanted a PPI or to speak with my mechanic. Now he has found "issues" with the 944 and would like me to ante up $4k for his repairs. I have offered him $500 to attend to a couple of items that we clearly discussed. He called today & left a very angry message about my offer. I don't believe he has any legal grounds whatsoever but am curious if anyone has any suggestions or has had a similiar experience.
Thanks.
Joe D
73 911s
00 boxster s
As an aside I recently sold a 944 turbo s with 1300 miles to a gentleman in NYC. This is the 3rd car that he purchased from me. Never drove the cars, never wanted a PPI or to speak with my mechanic. Now he has found "issues" with the 944 and would like me to ante up $4k for his repairs. I have offered him $500 to attend to a couple of items that we clearly discussed. He called today & left a very angry message about my offer. I don't believe he has any legal grounds whatsoever but am curious if anyone has any suggestions or has had a similiar experience.
Thanks.
Joe D
73 911s
00 boxster s
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04-07-2006, 10:52 AM
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Unless you deliberately lied or hid something from him, I would think he has no legal leg to stand on. In a private sale, once the money and title change hands, that is it. If you were a dealer, he would have more options to get back at you.
