DDK - Die Deutschen Klassiker

A pal of mine flagged this up last night thinking it might have been the same dealer I had my bad experience with. It isn't.

https://www.pistonheads.com/gassing/top ... 776232&i=0

This one looks to be a real howler, a change of identity but not even particularly well done with the paperwork on the car showing that it was previously a black E (now a white S). The dealer claims to have done the restoration work themselves so they can't even hid behind the 'we didn't know' story.

Another issue is that this car is likely to come up for sale again, assuming the dealer does eventually take it back and give a refund. So anyone out there in the market for a '72 S needs to be very careful.

Al.

Sad, but the OP did just buy it over the 'phone'.
If you can pay top $ for a 911S then you can spend a day or so to visit the dealer or pay for an inspection?

Bad in any case, hope the legal action will win the day.

not many northern porsche dealers who do in house restorations

A good friend of mine who is a finance broker, has just financed a GT3 for a specialist Porsche dealer in the same vicinity, apparently the buying customer has paid the dealer the deposit with the balanced paid by my pals company. The finance has been taken out in the buyers name against the car. The dealer has had all the funds including his commission and not paid the owner of the car. He, therefore, has now taken the car home but cannot sell it elsewhere as it has a finance agreement against it.

My pal as you can imagine is pulling his hair out and has found himself in hot water with the finance company, on approaching the dealer in question, the dealer citing cash flow issues has offered to give my pal another car - which is for sale on his website for approximately double the GT3 amount, in full and final settlement if he pays the owner of the GT3 directly !!

You just can't make it up.......

What a bizarre scenario

If the market is cooling, dealers sitting on stock for months, it looks like we are going to see a lot more of this.

Thing is, how do you know what a dealer/specialist cash flow position is when u push your car in. This does not only apply only to sales.

You could have your car in for service just when wages/rents/tax returns etc are due and you get a bill rounded up for a lot more than was due/expected as he struggles to keep the shop afloat.

sanjay wrote:A good friend of mine who is a finance broker, has just financed a GT3 for a specialist Porsche dealer in the same vicinity, apparently the buying customer has paid the dealer the deposit with the balanced paid by my pals company. The finance has been taken out in the buyers name against the car. The dealer has had all the funds including his commission and not paid the owner of the car. He, therefore, has now taken the car home but cannot sell it elsewhere as it has a finance agreement against it.

My pal as you can imagine is pulling his hair out and has found himself in hot water with the finance company, on approaching the dealer in question, the dealer citing cash flow issues has offered to give my pal another car - which is for sale on his website for approximately double the GT3 amount, in full and final settlement if he pays the owner of the GT3 directly !!

You just can't make it up.......

Feck, that's a complex legal one...I'd have thought the original owner of the GT3 remains the rightful owner since he has not been paid for his car? So the finance company and the guy who wanted to buy the GT3 are the ones left holding the debt.

The dealer wins here because he got the money for something - presumably he wants the cash and doesn't care which car is handed over to get it. And the motor that is double the price of the GT3 probably hasn't cost him anything close to that, if indeed he even owns it.

If I was a genuinely reputable classic Porsche dealer I would be hoping all these dodgy barstewards will go out of business soon.

Al.

The danger of using a specialist I guess, you really are vulnerable to what might/can/will happen.

A few with poor ethics tarnishes the whole trade.

sanjay wrote: My pal as you can imagine is pulling his hair out and has found himself in hot water with the finance company, on approaching the dealer in question, the dealer citing cash flow issues has offered to give my pal another car - which is for sale on his website for approximately double the GT3 amount, in full and final settlement if he pays the owner of the GT3 directl.

Assuming your pal can find the cash and there’s nothing dodgy going on with the other more expensive car this could be a bit of a deal for him, no?

Let’s say the GT3 is £100k.

He’s already paid £100k, he pays another £100k, making £200k. But he gets the GT3 and another car that’s worth £200k.

£300k worth of cars for £200k spent.

Am I reading it right?

That’s kind of how I saw it but not sure!

And what if the car worth double the original outlay is on SOR or has finance on it

My mind starts to go fuzzy then

Sam wrote:

sanjay wrote: My pal as you can imagine is pulling his hair out and has found himself in hot water with the finance company, on approaching the dealer in question, the dealer citing cash flow issues has offered to give my pal another car - which is for sale on his website for approximately double the GT3 amount, in full and final settlement if he pays the owner of the GT3 directl.

Assuming your pal can find the cash and there’s nothing dodgy going on with the other more expensive car this could be a bit of a deal for him, no?

Let’s say the GT3 is £100k.

He’s already paid £100k, he pays another £100k, making £200k. But he gets the GT3 and another car that’s worth £200k.

£300k worth of cars for £200k spent.

Am I reading it right?

“ If it sounds too good to be true................................"