Dealer asking me to sign Right of First Refusal
11-02-2021, 03:58 PM
#1
Instructor
Thread Starter
Dealer asking me to sign Right of First Refusal
Got an email from my SA asking me to sign a Right of First Refusal agreement for my incoming 992 C4S Cab. Basically it's asking me to:
1) Not sell/transfer/lease my vehicle to anyone within the first year.
2) If I am to sell/transfer/lease within the first TWO years, I need to provide notice to the dealer in which they have 72 hours to submit a same or better competing offer that I'd have to accept.
In "return", I will "most likely" get priority allocation for my next Porsche purchase. The SA is saying that this is something Porsche Canada is asking all the dealers in Canada to do due to the worldwide vehicle shortage and the need to protect their inventory.
This all smells incredibly fishy to me and I don't see why I'd need to sign any of this crap at all. And given the fact that I plan to transfer ownership of the vehicle to my dad upon delivery (as his retirement gift), I don't see any reason for me to sign this. Since it's a gift, I have no intention to flip my 992 and use it as speculation on the market. I'm not that desperate for money. What do you guys think?
1) Not sell/transfer/lease my vehicle to anyone within the first year.
2) If I am to sell/transfer/lease within the first TWO years, I need to provide notice to the dealer in which they have 72 hours to submit a same or better competing offer that I'd have to accept.
In "return", I will "most likely" get priority allocation for my next Porsche purchase. The SA is saying that this is something Porsche Canada is asking all the dealers in Canada to do due to the worldwide vehicle shortage and the need to protect their inventory.
This all smells incredibly fishy to me and I don't see why I'd need to sign any of this crap at all. And given the fact that I plan to transfer ownership of the vehicle to my dad upon delivery (as his retirement gift), I don't see any reason for me to sign this. Since it's a gift, I have no intention to flip my 992 and use it as speculation on the market. I'm not that desperate for money. What do you guys think?
Last edited by ibopm; 11-02-2021 at 04:04 PM.
11-02-2021, 04:36 PM
#3
Nordschleife Master
bingo
they are doing what they can to control the grey market re exports.
not to mention in recent times (ie. covid) used vehicles are more profitable then ever - the car manufactures wants to capitalize on this before anyone else... which makes sense to me.
it is their business to control and maximize profits in any way possible pertaining to the automotive market.
they are doing what they can to control the grey market re exports.
not to mention in recent times (ie. covid) used vehicles are more profitable then ever - the car manufactures wants to capitalize on this before anyone else... which makes sense to me.
it is their business to control and maximize profits in any way possible pertaining to the automotive market.
11-02-2021, 04:45 PM
#4
Burning Brakes
11-02-2021, 04:52 PM
#5
I've signed a no export agreement with no problem. But to say that you won't sell to anyone in the next year...forget it! You can't predict what will happen in the next year that may or may not influence your needs for that car. I think the people at Porsche have lost their minds. It would be interesting to see what the competition bureau has to say about this.
11-02-2021, 05:04 PM
#6
Rennlist Member
I've signed a no export agreement with no problem. But to say that you won't sell to anyone in the next year...forget it! You can't predict what will happen in the next year that may or may not influence your needs for that car. I think the people at Porsche have lost their minds. It would be interesting to see what the competition bureau has to say about this.
11-02-2021, 05:05 PM
#7
Burning Brakes
sounds like a bunch of bs to me, i'd say go F@#$ yourself if they pulled that kind of crap on me.
just sit on the sidelines and wait for the crash which is inevitable.
just sit on the sidelines and wait for the crash which is inevitable.
The following 5 users liked this post by CanuckGT4:
Bud Fox (11-02-2021),
ekam (11-03-2021),
Greg981 (11-02-2021),
lee_337 (11-06-2021),
vntperformance (11-04-2021)
Trending Topics
11-02-2021, 05:08 PM
#8
Instructor
Thread Starter
I understand why they want to do this...
...but I don't understand why I would have any reason to.
I'm not a Porsche flipper, I buy a new car maybe once every 5 to 10 years. I just don't see how this benefits me at all.
...but I don't understand why I would have any reason to.
I'm not a Porsche flipper, I buy a new car maybe once every 5 to 10 years. I just don't see how this benefits me at all.
Last edited by ibopm; 11-02-2021 at 05:09 PM.
11-02-2021, 05:09 PM
#9
"Got an email from my SA asking me to sign a Right of First Refusal agreement for my incoming 992 C4S Cab. Basically it's asking me to:
1) Not sell/transfer/lease my vehicle to anyone within the first year."
The following users liked this post:
ibopm (11-02-2021)
11-02-2021, 05:12 PM
#10
Instructor
Thread Starter
11-02-2021, 05:15 PM
#11
Rennlist Member
Will they let you take delivery of the car if you don't sign ? If yes, what's the up side for you beside getting on their favorite customer list ? I might consider signing if they offer me a free extended warranty or a discount or gift voucher for $5K .... haha
11-02-2021, 05:18 PM
#12
Rennlist Member
That's not what the OP posted...cannot sell/lease/transfer to anyone within the first year.
"Got an email from my SA asking me to sign a Right of First Refusal agreement for my incoming 992 C4S Cab. Basically it's asking me to:
1) Not sell/transfer/lease my vehicle to anyone within the first year."
"Got an email from my SA asking me to sign a Right of First Refusal agreement for my incoming 992 C4S Cab. Basically it's asking me to:
1) Not sell/transfer/lease my vehicle to anyone within the first year."
11-02-2021, 05:23 PM
#13
Burning Brakes
11-02-2021, 05:23 PM
#14
Why are you bothering to take delivery in your name only to transfer ownership to your Dad? (what sounds like soon after)
Why not just let him take delivery in his name, if all you are doing is providing the finances.
Why not just let him take delivery in his name, if all you are doing is providing the finances.
11-02-2021, 05:26 PM
#15
Instructor
Thread Starter
It's supposed to be a surprise. I'm taking the car for a photoshoot and PPF + ceramic. And then I've got a whole plan about planting the car somewhere he always visits and surprising him.
The following 4 users liked this post by ibopm: