High end used car dealers, disclosures

[William930t]

Found a scheme with some used car dealers that not everyone truly gets the full disclosure. I'm searching for an unnecessary family wagon, specifically a 2018-2023 Panamera Sport Turismo. Using all the online services I find one locally in Atlanta just to check out, mamba metallic green not my color though. At the lot I first spot multiple rows of Porsches, all models. Also see groups of Mercedes AMGs, some Lambos, two Maserati MC20s, BMWs and other nice Asian brands, all listed with NO Warranty. I then wonder how this dealer acquires such nice inventory.

Since the Sport Turismo is unique and in low resale numbers, I have a talk with a salesman, trying to see if he can check dealer auctions or other ways to research availability. Early in our discussion I ask how they get such nice inventory. He then asked me if I ever heard of dealer buybacks, I said lease turn-ins, sure. I was partially right, he was more specific about repurchases in the form of vehicles with past defects, warranty issues, lemons, unhappy buyers, or some with title issues. Boom, big red flag! Nothing mentioned about theft or flood vehicles. I start thinking, all these nice cars here have or had something wrong. Further research needed. As I found in another PPOT post, Carfax is somewhat of a joke about documenting vehicle history. AutoCheck reports are known be a bit better. To this Atlanta dealer's credit, they explain the repurchase procedure here:

https://www.driveadream.com/manufacture-buyback.htm

They have no issue with potential buyer getting a PPI. With these types of cars however, the inspection needs to be beyond thorough, including engine and transmission oil analysis with hope there was not a recent change. Google reviews on this dealer are mixed just as I thought. Lucky ones got a dream ride with no issues; others bought a mechanical nightmare and are very unhappy. Not sure about what types of owner warranties are available with repurchased cars. I do know the specific buyback repaired issues have a 1-year/12k warranty.

Seeking comments on this type of car with a "former" issue, my take is a big gamble, also depends on category of the issue. Very likely I won't be purchasing from them unless the vehicle problems are clearly stated, with proper repair documentation, and I can find a service contact to discuss what was done. Now thinking that the Porsche CPO premium price is worth it, if vehicle has all Porsche dealer visits and excellent service history.

[Zeke]

I bet if you gave Ed Boolian a call he'd talk to you. He's local so he might even help.

[Scott Douglas]

I bought a toy train from a fella that was the former owner of a large train shop. He had a nice M-B sitting out front that we discussed a little. Next time I saw him some months later he had a new BMW. I asked what happened to the M-B as he really liked the car. He said the dealer bought it back from him after they couldn't fix a problem he had had with the trans. He said it was actually the second car a dealer had bought back from him because of problems like that.
So yes, it is a thing. He said he checked and one of his former cars ended up back east at a dealer. He followed the VIN number so knew it was his old car.

[A930Rocket]

Interesting sales model. At least they are upfront on how they sell the cars, although I’m sure they sugarcoat the description. How do prices compare to non buyback cars? Even with the warranty, I would want a significant discount.

[greglepore]

Not much to add, but I think a Sport Turismo is cool. Even in Mamba. We have one here in town with a personalized plate that says "Kermit".
As to being upfront, most state "lemon laws" require disclosure on the buyback. I'd make a purchase decision based on the nature of the issue...I bought a "salvage" A8L cheap once-it was a "flood car" only in that it had gone thru a deep puddle, pulled water in the intake and hydro'd on cyl, bending the rod. Dealer fixed just by dropping pan, sold for about 50% of its retail, was a great car until the usual Audi stuff made it unaffordable.

[William930t]

For comparison, quick check of limited models nationwide

2018 mamba green Panamera ST 4E Hybrid w/54K mi at that dealer, issue flag on AutoCheck: $55K

2018 black Panamera ST 4E Hybrid w/53K in NJ, issue flag and 1 accident, $51.2K
Similar spec 2018 Panamera ST 4 (non hybrid) below 70K mi nationwide, no flags: $42 to $52K
Sold 10/25 on BAT white 2018 Panamera ST 4 w/26K mi clean Carfax: $50K
No Porsche CPO that old, closest is 63K mi 2020 CPO Panamera ST 4, with 1 accident: $57K

Live on BAT watching a 2020 Panamera ST 4 w/48K and replacement PDK, bidding ends 1/18
https://bringatrailer.com/listing/2020-porsche-panamera-4-3/

I am holding out for the right 2018 to 2023 Panamera ST 4S, have patience and thoroughly enjoying the search!