Absurd Trade in Offers
Discussion
I recently enquired about a car I was thinking of buying.
I was offered 47K for my 991.1 C2S Cab with 13,500 on the clock and with a 1 year warranty with Porsche. I know traders are in this game for a profit but this offer was derisory. The cheapest equivalent on auto trader is selling for 58K. Of course I can place my car on auto trader and simply sell directly.
I started this topic to find out from others if this derisory trade in offer was par the course. In effect the dealer is looking at making nearly 10K profit when he resells my car. That raises the question about how much mark up traders have in their cars?
I was offered 47K for my 991.1 C2S Cab with 13,500 on the clock and with a 1 year warranty with Porsche. I know traders are in this game for a profit but this offer was derisory. The cheapest equivalent on auto trader is selling for 58K. Of course I can place my car on auto trader and simply sell directly.
I started this topic to find out from others if this derisory trade in offer was par the course. In effect the dealer is looking at making nearly 10K profit when he resells my car. That raises the question about how much mark up traders have in their cars?
TownIdiot said:
Doesn't seem that bad to me.
Appreciate you'd want more but by the time costs are accounted for it doesn't seem an outrageous profit.
I can understand an OPC offering 10-12K below the market value given the prep work and warranty but an independent dealer who offers nothing.......that is what I am referring to as derisory. I also believe it is dependent on the independent dealer. If they are a Porsche specialist they obviously understand the market better than a general all make car dealer. Appreciate you'd want more but by the time costs are accounted for it doesn't seem an outrageous profit.
Edited by FrancisA on Tuesday 5th November 20:09
FrancisA said:
I can understand an OPC offering 10-12K below the market value given the prep work and warranty but an independent dealer who offers nothing.......that is what I am referring to as derisory.
In effect the consumer rights situation means the dealer is offering a warranty on the vehicle TownIdiot said:
FrancisA said:
I can understand an OPC offering 10-12K below the market value given the prep work and warranty but an independent dealer who offers nothing.......that is what I am referring to as derisory.
In effect the consumer rights situation means the dealer is offering a warranty on the vehicle Nothing new really especially given the time of year heading towards Christmas the cost of borrowing and economic headwinds adverse budget making folks poorer and depreciation hit on the vast majority of cars including most Porsches btw.
Depreciation has returned but many think their cars are still worth top money.
Dealer spreads are increasing and reflecting their reduced appetite for risk and taking a loss on any particular car.
Good example is a 3 month old 24 mile high spec GTRS CS new price £170k include first year road tax has a current trade in value of around just £128k from an OPC them selling it on at mid to top £140ks.
In contrast one of the first flipped 4RS costing c £135k sold for £227k plus fees on CC early 2023.
Depreciation has returned but many think their cars are still worth top money.
Dealer spreads are increasing and reflecting their reduced appetite for risk and taking a loss on any particular car.
Good example is a 3 month old 24 mile high spec GTRS CS new price £170k include first year road tax has a current trade in value of around just £128k from an OPC them selling it on at mid to top £140ks.
In contrast one of the first flipped 4RS costing c £135k sold for £227k plus fees on CC early 2023.
Edited by av185 on Tuesday 5th November 20:21
NDA said:
That is a ridiculously low offer - silly really when the market price for any 911 is pretty clear. Dealers are entitled to make a profit, but there are limits.
Might they take it on a sale or return basis?
I agree it is an absurd offer. TBH I would rather just sell it myself. I don’t see the benefit of having someone else sell it for a significant mark up. Might they take it on a sale or return basis?
av185 said:
Nothing new really especially given the time of year heading towards Christmas the cost of borrowing and economic headwinds adverse budget making folks poorer and depreciation hit on the vast majority of cars including most Porsches btw.
Depreciation has returned but many think their cars are still worth top money.
Dealer spreads are increasing and reflecting their reduced appetite for risk and taking a loss on any particular car.
Good example is a 3 month old 24 mile high spec GTRS CS new price £170k include first year road tax has a current trade in value of around just £128k from an OPC them selling it on at mid to top £140ks.
Ouch. It would seem one should just be grateful to own a Porsche and sit tight. Depreciation has returned but many think their cars are still worth top money.
Dealer spreads are increasing and reflecting their reduced appetite for risk and taking a loss on any particular car.
Good example is a 3 month old 24 mile high spec GTRS CS new price £170k include first year road tax has a current trade in value of around just £128k from an OPC them selling it on at mid to top £140ks.
FrancisA said:
Maybe I was not clear - the Porsche warranty is what comes with my car which the dealer will be able to add as a mark up when selling the car on.
My understanding is the warranty is only transferable when sold to a private buyer OR to an OPC. So no mark up / added value to independent?av185 said:
Nothing new really especially given the time of year heading towards Christmas the cost of borrowing and economic headwinds adverse budget making folks poorer and depreciation hit on the vast majority of cars including most Porsches btw.
Depreciation has returned but many think their cars are still worth top money.
Dealer spreads are increasing and reflecting their reduced appetite for risk and taking a loss on any particular car.
Good example is a 3 month old 24 mile high spec GTRS CS new price £170k include first year road tax has a current trade in value of around just £128k from an OPC them selling it on at mid to top £140ks.
In contrast one of the first flipped 4RS costing c £135k sold for £227k plus fees on CC early 2023.
What the t!!ty f!!k is a “GTRS CS”?Depreciation has returned but many think their cars are still worth top money.
Dealer spreads are increasing and reflecting their reduced appetite for risk and taking a loss on any particular car.
Good example is a 3 month old 24 mile high spec GTRS CS new price £170k include first year road tax has a current trade in value of around just £128k from an OPC them selling it on at mid to top £140ks.
In contrast one of the first flipped 4RS costing c £135k sold for £227k plus fees on CC early 2023.
Edited by av185 on Tuesday 5th November 20:21
UpTheIron said:
Why would an independent "offer nothing" - they prep and warranty cars too, plus might find it even harder to get warranty work done.
What do you think would be a fair offer?
What prep work is going to be due on a car with 13,500 miles on it. It was serviced a year ago. The cost of any warranty for a dealer cannot exceed 1-1.5K so you are still talking about a substantial profit margin. Independent (non Porsche specialist) dealers do not do any mechanical work outside of a service. At most they may do some cosmetic work which is usually a polish to tidy up the presentation. What do you think would be a fair offer?
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