Is there an etiquete to buying a Porsche?

Andrew Luu · 07-13-2002, 06:12 PM

Hello All,

I am in the process of buying a pre-74 911 and wondering what is the correct way of leading the seller into a PPI?. Assuming that I like what I see. Do I make an offer before the PPI? then re-negotiate (assuming the offer was accepted) the offer if the PPI reveals something wrong?, or do I have the PPI before I make the offer. In the latter case, if after the PPI and something was found wrong, and the seller refuse to move from the asking price, I am out $200 for nothing. I guess what I am trying to ask is what is the process of buying and negotiating the price of a Porsche like for you without offending the seller. How can I use the PPI to reduce the asking price. This morning I looked at a 73.5T 911 and thought that it wasn't worth the asking price ($6800) due to excessive rust and the seller said that I can make an offer and see what he can do. Well, I made the offer ($5500)and the seller sounds a little offended. I just hate it when that happens, especially when I don't mean to offend anyone. I apologize for my ignorance. Thank you for your help and god bless. Andrew

nostatic · nostatic's Garage

My thoughts are you don't even talk price until after the PPI. After looking at the car and determining it is worth a PPI, you should ask the seller if he is flexible on the price, and tell him you want to have a PPI done at your expense. It will help if you can have it done at a shop that is close to the seller so he isn't too inconvenienced. If the seller says no to the PPI, I'd forget the car. If he says yes to the PPI but that he isn't flexible on price it's a judgment call. If the asking price is fair for the car, then you might as well do it. If (when) the PPI turns up other unknown issues, the seller might soften on price.

Planter91C2 · 07-13-2002, 06:32 PM

and don't pussy-foot around. this is just a simple business transaction not a wine and cheese party. who cares if you offend somone.

MarkY · MarkY's Garage

Quote:

Originally posted by Planter91C2
and don't pussy-foot around. this is just a simple business transaction not a wine and cheese party. who cares if you offend somone.

Daryl, how do you really feel? Tell it like it is, I like that in a person. And I agree with you. Nostatic has some good advice as well.

Just in case you forgot, DO NOT purchase without a PPI, if owner says no to a PPI, he's hiding something.

speeder · speeder's Garage

I think that the above advice is good, and I would add this; you have to first get to know the market and the cars, (perhaps you already have), since PPIs are expensive and should only be done on a car where you more or less have a deal, pending PPI. Skip cars that have rust completely, learn where to look for hidden rust on early cars. Spend a little more for a good car, it will be a LOT cheaper. Cars with rust have very little value PERIOD, and engines or trans that need rebuild could easily double the price of a 911 you are looking at.

As far as negotiating price goes, there is no one answer to your question. Once you educate yourself to recognise problems on these cars, (before spending $$ on a PPI), the field will narrow in the extreme.

I would never consider a PPI on a car that does not pass all "smell tests" and is priced realistically to sell. Lots of sellers are clueless or dreaming about value of their cars, or price reveals the fact that they really don't want to sell, but will sell if someone meets their (above market) price. Possible scenarios could be an agreed upon price minus any needed repairs found in PPI, or a firm price IF car checks out, to totally negotiable, etc. Good luck!

Chuck Moreland · 07-13-2002, 08:04 PM

I wouldn't pay for a PPI until we had a price nailed.

I make the offer contigent upon a succesfull PPI. If the PPI turns something up (they allways do) you have leverage to go back negotiate a little better deal. If you don't like the results of the PPI or can't agree on an adjusted price you can back out.

billwagnon · 07-13-2002, 08:09 PM

I did it Chuck's way - long distance, and it worked out well.

Bill Douglas · 07-13-2002, 09:31 PM

I say to the seller "Providing nothing bad shows up in the PPI I would like to offer you ....". This way you save yourself the time and money of a PPI if he isn't going to accept what you think the car is worth to you.

And be realistic. don't change the offer because stone chips were found. Bad means broken head studs, low compression on a cylinder etc.

ChrisL · 07-14-2002, 02:43 AM

Being out the cost of a PPI or two is normal when buying one of these cars. I think in the case of a rusty car like you saw, you and the seller can agree that there's $x amount of work that needs to be done. That leads to an initial of market - x. Then the PPI can uncover work that neither of you needs to be done.

Many years ago I was looking at an '81 SC, fair condition, for $12k. We agreed to a PPI which revealed a bad cylinder. Total suprise to the seller. I talked to the shop, they told me $4k to $5 to fix - I offered $7.5k. That was so far below what he thought we was going to get he immediately said no way. I wandered to a 300zx (I know, I know) and had fun with that for a few years. Ironically, he called me about six months later and said I could have the car for my lowered offer.

Chris.

Doug E · 07-14-2002, 03:24 AM

Unless it is family or friend, don't worry about offending the seller. This is a business deal and should be approached as such. Don't be afraid to walk away if the deal isn't to your satisfaction and as hard as this might be, DON'T become emotional about the car and say to yourself "I must have this one" because the reality is there are hundreds of other cars out there.

BTW, if the seller is either family or friend, you really need to think twice about the deal because if there are ever any future problems it could severly strain the relationship.

Good luck and have fun - the hunt is just the beginning!