I know that a few people on WSO are into cars and purchases always come up during bonus season, etc. So I thought I'd provide an interesting data point on Porsche allocations, based on my current experience.
- The majority of dealers are offering allocations but marking them up with ADM (Additional Dealer Markup - but dealers will just tell you it stands for "addendum"). I am not doing business with my local dealer because they want $15k for an allocation, which would be more than 10% on my (modest) base Carrera build. They would simply not move off this number.
- You will have to do a lot of phone calls and looking around, but you can find dealers that will sell to you without an ADM. The approach that most of these great dealers are doing is that if you want something off the lot or incoming, then its definitely ADM. But if you're willing to go on the list and wait, there will be no ADM. That's the route I chose.
- I found my dealer out-of-state and went on their list in early September 2021. Oddly enough, not only was this dealer not charging ADM, but they also didn't require a deposit or anything else from me. I must admit that it made me a little suspicious of them, but they assured me this is how they do business. I think I found an exceptional dealer in these guys.
- I'm not one to be a pest when it comes to these things - I don't like "pressing" on big purchases - so I only had occasional contact with my salesperson. I was assured that my name was moving up and I was "top of the list" for the last 2 months. The problem was that Porsche was not issuing a lot of allocations for my particular model and some months there would be zero movement on the list order. That was a little frustrating, but again, I don't like to press, good things come to those who wait.
- Last Friday I finally received my official allocation and my order was accepted by Porsche. It was just a tick over 6 months wait for an allocation.
- Today I received the Track Your Dream email from Porsche which lets you see how your car is progressing. My estimated delivery is now at 172 days which would put me at an early September 2022 delivery, a full year after first going on the list.
- There will be no ADM on my order and it is widely believed that Porsche will have a price hike in the next few months. So, was the wait worth it? I think so given that I don't think I'll be able to obtain a Porsche at this price again.
Finally, I fully realize that all of the above is a first-world-problem and there's a lot of significant events happening in the world right now. Again, I'm just providing an interesting data point for anyone interested.
Excellent post, thanks for sharing.
Just to add - when I ordered my last Porsche, I did it via their ED program
https://www.porsche.com/usa/motorsportandevents/deliveryprograms/europe…
I don't know how allocations work through that, but it was a great experience!
Also had the track experience package.
Good questions and I can add to that.
So, yes, it would be nice to have a different delivery but I'd rather just get my hands on the car instead. I'll still do PECLA on my own and will probably do that again as my delivery date gets closer.
TL;DR - I have a Porsche
Seems like a brutally long wait for a pretty base build, but with all the supply chain issues I guess what else can you do. Glad yours is on its way, but its a serious bummer you have to wait until summer's over to drive it. I've been in the 2021 Carrera 4S and my God does that thing sound phenomenal in Race / Track mode. I was never in a position to test the limits but I would assume it wouldve passed with flying colors.
On the plus side, my old man custom ordered and designed his C8 and when it arrived the dealer tried to charge him 30k over msrp, despite having assured him countless times they would sell it at msrp (as is required by Chevy). In the end he walked away from his dream build multiple times, but arrived at home and they finally agreed to sell it for 8k over list. Talk about a nightmare experience.
I love cars but I fucking hate buying them. My advice for serious enthusiasts is to just go the private party route if you can, and to just get a PPP at a local shop that specializes in whatever car you're trying to buy.
Care to elaborate more on the PPP route? I'm interested in getting a car in the future and am thinking of PCP, is it the same thing?
Apologies, I meant PPI, meaning having an independent third party evaluate the vehicle to ensure it is in good shape. TBH you should in theory do this whenever buying from a "non-brand" dealership as well (e.g., buying a BMW from a Merc dealership).
Good thoughts in your post.
I did reach a point where I had just about given up on Porsche and was looking at C8. The upside there is that there are mega-dealers out there that will keep you updated on your place in line and sell at MSRP. You'll wait about 6 months but at least its a (semi) transparent process. You simply cannot get that out of Porsche and that is frustrating. Porsche basically just tells you, "you're on the list" and then it's a black box. Then one day the Zuffenhausen gods reach down from above and choose you to have an allocation and there's nothing you can do about it.
To your point, yes, I have a straightforward build and that has helped my timeline. There are plenty of stories out there of people waiting years for a Targa, which I think is just plain insane.
Finally, one of my personal "quirks" is that when it comes to big purchases, I insist on buying new. I have never bought a used car or watch in my life, I just don't like doing it. I try to be pretty financially savvy, max out my 401k, manage my own income portfolio, etc. But even though I know I'm taking the worst of it, I still cannot bring myself to buy a used car. CPO/PPI/whatever was never on my radar.
Regarding only buying new, I feel like this is a fair approach when you are getting a top of the line product. If I am buying a submariner or a 911, I can count on the quality and reliability. Regarding a 911, you are buying one of the most idolized models in automotive history, so it is a safe assumption that you will love it. Plus you mentioned you already test drove it, which is a huge plus. However, I would disagree on buying without a test drive for anything that requires a bit more of a preference. For example, no way in hell would I buy a Lotus new w/o a test drive, and the same goes for more niche watches.
The problem is you lose so much value driving a car the first thousand miles, you better be DAMN SURE it is the one you want. That is what makes the new car buying experience so shit right now. I couldnt imagine being someone like my Dad who had to roll the dice on the C8. I would never tell him this, but I was pretty underwhelmed the first time I drove it. Especially paying over MSRP, if I were him I would've opted for a Carrera, Emira, M2 Comp, or something comparable.
I'm curious, what sold you on the Carrera? Don't get me wrong, I think it is probably the best vehicle for the price point, but I always like to learn what sold people on it.
This is a very insightful post. I am actually planning to save up a bonus or two to get one. I haven't test driven one yet, but plan on to during the summer. I am a big car guy. As Subaru is getting rid of their STi models 2022+, and I am an older demographic, it was a toss up between Audi S line or getting a Porsche.
It will be very challenging to find a dealer that will let you test drive one. Basically anything coming in now - and certainly through the summer - is a car that's already spoken for and not available for sale or test drives. If you can take the time off, I would highly recommend going to PECLA or PECATL and trying the cars there. They will show you what the cars are capable of and you can try any number of models. I did PECLA and had an amazing time there, planning on going again in the near future.
Thank you for the information. I am fortunate enough to be located in San Diego, California. Los Angeles is roughly 2 hours away from me, so going there will not be an issue per say.
I don't have my own place to park the Porsche in a garage, so the vehicle will be something I want to get once I secure real estate first. Covid-19 made car purchasing more or less a living nightmare for the consumer, and given everything, this may be the best approach to it.
You're going to enjoy the Porsche more as they drive better, however I'd suggest an Audi rs3, the new one looks sick, has that unique baby huracan 5 cylinder and goes 0-60 in 3.4 seconds stock. + AWD for snow
Hey thank you for the suggestion. I was looking at the RS3 but can't find a dealer that would carry one. I know there is limited inventory. Most likely what will happen is I will be in touch with the dealership and then we will make a plan in terms of loan purchasing and timeline.
Have you driven a RS3? ETA for one I want to discuss with the dealer would be in around May or June, when I have my initial half sign-on bonus kick in along with ESPP shares purchase/sold at a discount.
I love the look of the S7. One of the best looking cars for sale right now in my opinion.
It's an absolute beast of a look and performance. I would want a starter vehicle into the class, though. The RS3 or even S3 would be great.
I plan on buying an exotic sports car not a Porsche but due to the level of inflation and mark up. I have to place my plan to buy on hold.
what car?
My heart is set on one of following:
Ferrari f430
Ferrari f12
Audi R8
thanks. how much you spending on it and will this be your daily runner?
No, not a daily driver. I have an SUV for the daily stuff and driving my dog around. This will just be a fun car for date nights out and stuff like that.
How much you making now big guy?
My salary is posted here
Must be low in that case.
Great response, which I agree with such a response.
I have a really good relationship with a Porsche dealer, who I have ordered many cars from over the years. He was able to get me a 992 turbo S for no dealer markup, however when I asked him about the GT3, he said he had to sell for 50k over asking price. I told him no and will wait until the chip shortage price surge dies down for a gt3 or gt3rs.
On a side note, Ferrari is not asking for any dealer markups. We ordered an f8 and sf90 for $0 over sticker recently. Ferrari may be out of the price range for many on here, but I do appreciate their no-dealer-markups (at least at my local dealer).
Have any new Turbo S made it to the US? There's talk that it may not be produced at all. I think you may be waiting on something that's not coming.
I already received my turbo S last year. However, I heard that with the recent ship wreck there were many gt3's, turbo S' etc that got lost and backlogged everything. Also, there are parts for the GT3 that are made in Ukraine and Porsche is trying to export them to a different country to get the manufacturing back up
love gt3s. how much is it a month? they are £131k all in for the standard model in the uk
I bought a Turbo S, not a GT3, all cash, so not sure what the monthly payment is. Base price of Porsche's are much lower than the realistic price. A gt3 in the US is selling for $350k and the Turbo S' are going for $300k
you're living the dream
Interesting to hear Ferrari don't do the same - although from what you've seen is there much truth to the perception that Ferrari dealers make you jump through more hoops than other dealers? As in it seems like with Ferrari the extra costs are more likely to come in the form of having to buy the latest entry level models in order to get allocations for the cars people actually want.
I haven’t seen jumping through hoops, but definitely some wait. When I looked into one before it seemed like 3-6 months for most of the “standard” models, with longer waits for the very popular ones. Was still able to get allocation with a wait (although I had bought other cars from this dealership before, non Ferrari cars).
At my dealer the only car that you have to go through hoops for is if you want the next Laferrari. To get their "hypercar" you pretty much have to buy all of their regular models like the f8, sf90, Roma, 296gtb etc. A lot of people like to complain about the "you have to buy a used Ferrari before buying a new one" however if you have a Maserati they will count that as your "pre-owned Ferrari". I'm surprised many people don't know about this and end up buying a used Ferrari first when you could just buy a Ghibli or Levante and Ferrari dealers will allow you to order a brand new model of whatever you want.
I think Lamborghini is very anti-markup as well if you're willing to wait. Very long wait though.
This is sick, but seems like it should be half this price?
https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId…
The rarer the spec, the higher the tag. I believe they only made 918 of the 918s, at least they only made 918 of the spyder in 2015.
LOL the 918 is Porsche's rare, ultra fast Hypercar. That's the Carrera GT or LaFerrari for Modern Porsches, although since it came out in 2014 it is not necessarily considered "new" anymore. That thing is crazy fast and definitely hard to get unless you are going to dish out over $1 million
You forgot to include the expenses once it belongs to you which like Laferrari and P1, is too much to waste. IMHO.
That and the GT, shall still keep climbing in price. Unique, huge demand for them.
Why am I getting MS here? Is this thread supposed to be as worthy of a sensible comment as the one (s) on the a 1st year analyst seeking advice on feeling the hots for his VP and / or an analyst asking for PE case studies or soliciting help here with the fixing of his / her model? Dumb asses galore on WSO , with quite a few my-life-better-than-yours-let's-measure-dicks comment splashed around generously
Someone asking what are the prestigious list of conquerors, what's the prestigious way to take a shit, this is bollocks. PM me and I will personally take a shit on you, and you can tell your friends and family about being prestigiously dumped on
Imagine a grown man flexing on WSO about a car. That's a big yikes from me dawg.
We need an answer to “how old are you, how much do you make, and what’s your net worth?”
Spending $100k on a car when you’re 27 and make $350k and have a $500k net worth? Still not a great financial decision, but you’re crushing it in your career so do what you want.
Spending $100k on a car when you’re 37, make $250k and have $500k net worth? Kinda sad tbh. I feel like the majority of expensive car owners fall into this category. Yea, they are able to buy the car because they have enough money for it, but they’re spending a way too big % of income and net worth on it. Buying a Porsche is cool if it’s insignificant to you. Not if the payment is 20% of your annual income
Facts
If you don't make enough to buy one just say that.
Mr. back office over here trying to flex some salary muscle, can't make this stuff up
It is so easy to buy a Porsche, a 2nd year IB analyst could do it. I’m 27 and have enough money to buy a fleet of Porsches without financing. Why are you acting like it’s a hard barrier to cross?
Why are you being salty bro?
I can't afford a 911 and I think a Cayman/Boxster is kind of pointless.
I'm waiting on either a manual Supra to launch, or the new Z that I know will come with a manual.
Is a manual Supra on the horizon??? Most automakers are headed the opposite direction with that. I've had a manual recently and I enjoyed it - but I've heard and now agree with the arguments that an automatic is necessary for today's powerful engines. You literally can't shift fast enough to make full use of the engine you're paying for. You sure you want a manual?
https://www.roadandtrack.com/news/a39355637/toyota-supra-manual-2022/
Toyota dealerships are saying it's coming based on the info they've gotten on 2023 models. Toyota itself hasn't confirmed it.
As far as manuals in general, I wouldn't buy a lightweight sports car without a manual. I would agree that the bigger power cars, like 600hp+, a dual-clutch auto is probably the way to go. But Supras/Zs/M2/M3/Mustang GT, etc that are fast but not insanely high HP are all much better cars when they have a manual. Except in rush hour lol
But why settle for less?
Yeah. Get a panamera.
I'd wager that the Supra 6cyl won't get a manual unless BMW ok's it and also puts one in the Z4 (since that's actually what the Supra is). And so far all they've put a manual in is the Euro Z4 2.0l, and Toyota didn't even take up that offer on USDM cars.
The new Z is INSANE. Its got the 400hp TT V6 from the Infiniti lineup (can easily be tuned to 500+ HP) paired to a 6 speed manual in a beautifully put together car.
Totally agree, if the dealer markups aren't insane I'll probably get one.
Buddy of mine got an allocation for a gt4rs and each party signed a contract saying they would sell to him, then they sold it to someone else...now he's suing them lmao dealerships are all full of scumbags.
Oh for sure, there's a lot of horror stories happening right now with that. Anyone who thinks they have a "solid relationship" with any dealer is completely fooling themselves. They don't care about the history with you, they don't care about contracts, they just want the money.
What do you guys thinking of the Porsche Taycan? I find it quite sexy
Every Porsche dealer I speak with tells me this is the hardest one to get; it's really, really popular right now and you'll have a hard time getting an allocation.
Ok fair enough it looks cool and the specs are fantastic
Porsche is doing IPO to raise money for electric buildout. They have huge ICE facilities which are liabilities on the B/S they'll have to impair. Dealers are overcharging cuz the new sales model is DTC and in a few years, they'll be dust. But the brand will absolutely survive, has a very strong following, and truely dominate the racing scene. I expect more of the same + some "simpleton models" to help with funding this expensive endeavour. Btw I bet they go after Formula E. TLDR: Porsche is a bitchin' trackstar and def worth a buy on IPO, though expect electric buildout to be expensive.
You still need technicians to do the car repairs, so dealers may still be around to serve that purpose and to have floor test-driveable models.
With the push for DTC what do you think will come of the repair work? Perhaps companies can work to increase the amount of "factory trained" and authorized technicians somehow.
Corporate owned dealerships might be the way to go... They can serve as destinations to test drive vehicles and also the point of pick-up to allow for cost efficient delivery of vehicles.
The current system is protected by law due to corruption and the ability to lobby. I think if we put our heads together we can come up with an alternative solution that increases the customer experience while also improving society by reducing the concentration of wealth. I think the wealth can be re-distributed to the community by corporate partnerships that encourage entrepreneurs to establish authorized service shops.
Side note: This is an example of the true capitalistic approach of wealth distribution that we need.
Unfortunately do to corporate socialism, we have laws in place to protect car dealerships from any competition or risk of innovation that might threaten their profits.
#corporatesocialism
Got on a wait list for a lotus emira. 2 year wait list to avoid a dealer markup + being forced to purchase the first edition upgrade.
Congrats! Details on lotus ordering process? I know very little about them.
Thanks dude. It was pretty straightforward - I configured one online, went to the Lotus dealership in Dallas, chatted with a sales rep and put down the required $5k deposit to get on the wait list for an allocation. Never had a sports car or anything like that before but it’s gunna be a wait lmao.
Wow!!!! Congrats. I'm jealous. Did you get the V6? The interior looks miles beyond the Evora GT which was miles beyond the interior of the Elise. The Emira looks awesome.
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