Notices

Dealer asking me to sign Right of First Refusal

Thread Tools
 
Search this Thread
 
Old 11-03-2021, 03:11 PM
  #46  
Bud Fox
Burning Brakes
 
Bud Fox's Avatar
 
Join Date: Jul 2015
Location: Toronto, ON
Posts: 1,089
Received 238 Likes on 158 Posts
Default

Originally Posted by theiceman
if you take delivery and then transfer to your father, do you not have to pay tax again ?? or is that allowed without tax to a direct family member ? i know i gifted my car to my son, but didn't know it worked the other way around.
correct
The following users liked this post:
ibopm (11-03-2021)
Old 11-03-2021, 03:53 PM
  #47  
CanuckGT4
Burning Brakes
 
CanuckGT4's Avatar
 
Join Date: Jul 2015
Location: CANADA
Posts: 795
Received 267 Likes on 174 Posts
Default

In BC, there is a tax exemption if the following conditions are met. Probably similar to other jurisdictions.

Gifts to Related Individuals
If you receive a vehicle as a gift, you are exempt from paying PST on the vehicle if the person
who gave you the vehicle (the donor) is a related individual to you and the donor:
 paid an applicable tax or another province’s sales tax on the purchase of the vehicle and
has not received and is not eligible for a refund, credit or rebate of that tax, including input
tax credits,
 was exempt from PST, TDP or SST that would have otherwise been payable, or
 received the vehicle as a gift in BC prior to April 1, 2013.
Note: Only one gift of a specific vehicle between related individuals is eligible for exemption in
a 12-month period. PST will apply to any future gifts of that vehicle within 12 months. The only
exception is if a gift vehicle is gifted back from the recipient to the donor.
A related individual is:
 a person’s spouse (legally married or living for a continuous period of at least 2 years with
another person in a marriage-like relationship), child, grandchild, great grandchild, parent,
grandparent, great grandparent, or sibling,
 the spouse of a person's child, grandchild or great grandchild, or
 the child, parent, grandparent or great grandparent of a person's spouse.
Old 11-03-2021, 05:04 PM
  #48  
.2PDK
Race Car
 
.2PDK's Avatar
 
Join Date: Feb 2014
Posts: 3,508
Received 1,243 Likes on 751 Posts
Default

Originally Posted by UncleDude
two guys I know at Porsche Oakville had this happen, neither signed it
Really? I've bought numerous 911s there and never had to sign one.

Does it only apply to new?
Old 11-03-2021, 08:26 PM
  #49  
ibopm
Instructor
Thread Starter
 
ibopm's Avatar
 
Join Date: Feb 2021
Location: Canada
Posts: 188
Received 107 Likes on 47 Posts
Default

SA is proposing to add both my and my father's name to the licensing for the car. I wonder if this would affect anything?

I asked him to just carve out an exception for family transfer. Let's see what he says.
Old 11-04-2021, 02:59 AM
  #50  
westcoastj
Pro
 
westcoastj's Avatar
 
Join Date: Oct 2020
Posts: 677
Received 288 Likes on 172 Posts
Default

You already have a purchase agreement? I'd refuse to sign it if that's the case.
Old 11-04-2021, 03:34 AM
  #51  
ibopm
Instructor
Thread Starter
 
ibopm's Avatar
 
Join Date: Feb 2021
Location: Canada
Posts: 188
Received 107 Likes on 47 Posts
Default

Originally Posted by westcoastj
You already have a purchase agreement? I'd refuse to sign it if that's the case.
Yeah the car is literally being built right now. It's in stage 2 of 4 on My Porsche.
Old 11-04-2021, 09:28 AM
  #52  
theiceman
Team Owner
 
theiceman's Avatar
 
Join Date: Aug 2005
Location: Cambridge Ontario Canada
Posts: 26,980
Received 1,115 Likes on 797 Posts
Default

Originally Posted by westcoastj
You already have a purchase agreement? I'd refuse to sign it if that's the case.

Id be interested in MOABs view on this . But i would think if you already have a signed agreement its a contract. If they refuse to give you the car I might threaten to sue for breach of contract.

I would think legally they dont have a leg to stand on, and its more like intimidation. Or Porsche/dealership offers some kind of cash incentive to every one that gets signed for the S/A .

the S/A will yell you anything to get that thing signed .
Old 11-04-2021, 09:31 AM
  #53  
ekam
Drifting
 
ekam's Avatar
 
Join Date: May 2009
Location: Toronto
Posts: 2,071
Received 507 Likes on 324 Posts
Default

Has anyone brought this up to Porsche Canada? I wonder what they have to say.
Old 11-04-2021, 10:20 AM
  #54  
.2PDK
Race Car
 
.2PDK's Avatar
 
Join Date: Feb 2014
Posts: 3,508
Received 1,243 Likes on 751 Posts
Default

Originally Posted by ekam
Has anyone brought this up to Porsche Canada? I wonder what they have to say.
"Pound sand" is my guess...
Old 11-04-2021, 11:12 AM
  #55  
moab
Rennlist Member
 
moab's Avatar
 
Join Date: May 2012
Location: TO
Posts: 2,038
Received 651 Likes on 319 Posts
Default

Originally Posted by theiceman
Id be interested in MOABs view on this . But i would think if you already have a signed agreement its a contract. If they refuse to give you the car I might threaten to sue for breach of contract.

I would think legally they dont have a leg to stand on, and its more like intimidation. Or Porsche/dealership offers some kind of cash incentive to every one that gets signed for the S/A .

the S/A will yell you anything to get that thing signed .
yes, I commented on this above. They can't unilaterally impose new terms on you after you have signed the contract. Even if they have provided some wiggle room in the fine print of the existing contract to allow them the ability to amend in this way, I would say very very unlikely a court would upoholdit. As much as the legal system is a joke at times, courts do tend to look out for the consumer more times than not.
Old 11-04-2021, 11:29 AM
  #56  
petee_c
Drifting
 
petee_c's Avatar
 
Join Date: May 2009
Location: Heidelberg, ON
Posts: 2,031
Received 107 Likes on 89 Posts
Default

Politcaro BMW has a clause in their sales contracts that says "A registered lien will be held for 1yr on all cash purchases of x3,x4,x5,x6 & x7 models".... maybe its to stem grey market vehicles....
Old 11-04-2021, 11:32 AM
  #57  
Bud Fox
Burning Brakes
 
Bud Fox's Avatar
 
Join Date: Jul 2015
Location: Toronto, ON
Posts: 1,089
Received 238 Likes on 158 Posts
Default

@ibopm should pm @moab the agreement with personal info redacted, then we can get a clearer opinion/picture of the current dealer raping landscape
Old 11-04-2021, 11:37 AM
  #58  
moab
Rennlist Member
 
moab's Avatar
 
Join Date: May 2012
Location: TO
Posts: 2,038
Received 651 Likes on 319 Posts
Default

yes good idea. I can tell the Law Society this constitutes my pro bono work for the year. Helping aggrieved Porsche owners
The following 4 users liked this post by moab:
Bud Fox (11-04-2021), drewster (11-05-2021), ekam (11-04-2021), lowbee (11-04-2021)
Old 11-04-2021, 11:47 AM
  #59  
Loess
Three Wheelin'
 
Loess's Avatar
 
Join Date: Jun 2014
Posts: 1,294
Received 172 Likes on 92 Posts
Default

Originally Posted by petee_c
Politcaro BMW has a clause in their sales contracts that says "A registered lien will be held for 1yr on all cash purchases of x3,x4,x5,x6 & x7 models".... maybe its to stem grey market vehicles....
I could maybe see signing a right of first refusal but I would take a bus before I would let someone lien my car unless it's financed or leased by them directly.

I don't believe Porsche Canada is requiring this. I think most of this is coming from dealers who have too many cars in China or the Middle East. They get a warning and were likely told to better vet their clients and they've come up with these great ideas to get trades coming back. If you ask PCL they will probably cop out and give you the standard line that it's between you and the independent dealer.

On the other hand if these cars keep going overseas, we will get less cars in the future and/or they will be priced directly against the US dollar or Euro.
Old 11-04-2021, 01:36 PM
  #60  
ibopm
Instructor
Thread Starter
 
ibopm's Avatar
 
Join Date: Feb 2021
Location: Canada
Posts: 188
Received 107 Likes on 47 Posts
Default

I've sent Moab my email. Will shoot it over once he sends me his contact.


Quick Reply: Dealer asking me to sign Right of First Refusal



All times are GMT -3. The time now is 07:27 AM.