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Just about ready to buy my first Porsche and it is a 718..

11K views 46 replies 23 participants last post by  Miami Blue 
#1 ·
Hi All,

Been browsing this forum and it has been a great resource which is very helpful for prospective 718 buyers as well.

Started searching for a 981 CS and ended up finding a 2018 718 base which has been a service loaner (hence never titled). I have been offered approx 25% of MSRP. It has been a service loaner for about 6 months at a local dealership. Am about to pull the trigger after my conclusion that i won't miss the extra power of the 981 S if i chose the 718 base.

Any chance, that you guys can give me some added comments on this deal?

Thank you.
 
#4 · (Edited)
Thank you. Yes. it is a service loaner and CPO. warranty out to 2024.

My thoughts are to hang on to it for a 2-4 years ...and if not problematic, for much much longer. My gamble would be the service loaner abuse level.

No. Unfortunately not Miami Blue. I wish it was but my wife is not enamored with Miami Blue. This is white :)
 
#12 ·
CPO inspection is only as good as the dealership wants it to be. Also know that everyone who took that car out full throttled it to red line the first chance they got. I say that because that's what I do when I get a loaner. And I'm actually one that cares a little not to abuse them too much...;) imagine others...
So if it's the exact spec you want, the car has CPO warranty, is in good shape without paint or interior blemishes and you are ok with it having had a rough first 5500 miles I say go for it.
 
#13 ·
I'm with Trusted. As long as there's no accident history, I see little if any risk given a warranty out to 2024. If it's spec'd the way you want it, it sounds like a good value. And if you sell or trade it in before the warranty expires, the first 5500 miles won't have mattered at all.
 
#14 ·
Thanks guys. I have been going back and forth of a new build or not as well. But 25% of MSRP is not small change. I appreciate all your inputs.

It is spec'd pretty much the way i want...maybe just the color but am fine with a clean slate to start off. Especially, since i think as a newbie to the Porsche line, i rather start with room to improve down the road i.e. if i want to step into S or GTS down the road built to my specs. My current thought process is that i will move along ( up or sideways ) in 2-4years..And if the car remains a great find, relegate it to a DD and get rid of my current DD. Thank you.

I will ask for the inspection checks as mentioned by Johan. Thanks Johan for your input.
 
#15 ·
I would also highly recommend that you have them do an oil/filter change as part of the purchase. That way you can get some idea if there any unusual particulate issues and get rid of the factory break in oil. If you can be there for that you can see what it looks like. They should not have any problem doing that. Put it on the rack and do a good visual inspection yourself for peace of mind as well as that will allow you to get familiar with the under carriage. You will definitely want a copy of the inspection checklist. Enjoy your new ride!!
 
#17 ·
After my BMW was destroyed by an uninsured driver, my spouse and I decided it was time to own another Porsche. The looks and performance of the Cayman put it at number one on the list. But we wanted to make sure the Cayman would meet our needs so before making the major purchase of a new one, we purchased a 2014 Cayman CPO from an out-of-state Porsche dealer. The plan was if we liked it, we would order a new one in 2018 (we did and we did).

The local dealer never hesitated to honor warranty claims and even contacted the other dealer for information on my wheel/tire warranty when I needed a new tire and did not have the papers with me. They also took care of several other warranty issues including warping door panels.

So, if the CPO car has most everything you want, I would go for it! Then if you like it as much as I believe you will, order a new one in the future with the exact specifications you want and discover you need or do not need after driving this one for a few years.
 
#18 · (Edited)
I used to hold the same opinion that I would never buy a loaner or off the lot that had miles on it "knowing that somehow it was not virginal and had been abused". 2 things have softened that opinion some (I have learned that one should "never say never"): a. 10 years ago I bought a BMW 135 (had been an unsold launch car that sat for a few months and then went into the service fleet for a few months). I owned it for 8 years and never had a single issue-zip, nada, etc. b. All the cars at Porsche Track School (AKA Porsche Driving School-Birmingham) go into the CPO fleet after a few thousand miles. And believe me they are not babied. All the instructors that I asked responded without hesitation that they would buy one of the former track cars. If something is going to break, it will be on the track.

(and they are not "broken in" in the factory recommendations. They get started up and run around for a couple of laps and then are "good to go". The TT 911 that we had for launch control practice had less than 1000 miles on it when 5 groups of 5 each did full throttle starts all morning-0-60 in 2.8 sec time and time again)
 
#20 ·
Just my $0.02 worth. I bought a 2018 cayman CPO service loaner in the summer. 2,400 miles and good discount but not as good as yours. With 5 years, 8 months unlimited mileage warranty, PDK, and no sport chrono. That means no launch control.

Look at the back tires and check tread depth. If they look good, buy it.

This was a stretch buy for me so I justified the purchase based on loving the car, the price and warranty.
 
#24 ·
Look at the back tires and check tread depth. If they look good, buy it.

This was a stretch buy for me so I justified the purchase based on loving the car, the price and warranty.
The tires all match and have the same wear and tear. The depth is equal all around.

And I am also at the same place in terms of loving the car, the price and warranty. Seems to be the perfect match of them all. :)

Deposit made. :)
 
#21 ·
Everyone's offering good advice here, particularly regarding oil/filter change and tire tread depth (Look for anomalies in the tires as well: Is wear even on each axle? Is there any sign of unusual wear, such as marbling or cupping? Heck: Are all four wheels running the same make/model tire, right down to the Porsche-specific N0 spec?).

If it were me, I'd do it only if I knew for certain that I was going to get rid of the car on or before the CPO warranty ends. The warranty would be the key in my mind.
@Grozk17 's point about PEC track cars is a great one, too. OP, Are you sure that this car was a service loaner for that dealership, or perhaps it was for another dealership -- or maybe it was a PEC car? Definitely determine the car's pedigree as a service car without any doubt; you may need that info down the line if you do decide to purchase it.
 
#23 · (Edited)
Thanks, guys.
So here is the info i have: It has been with the one dealership through out. They ordered it, used it as a loaner and now selling it. I was sent the service records. Nothing indicating abuse except one failed tire sensor replaced. 10,000 mile service done at time of being CPOed.

with almost 5 years 6 months of warranty left, i feel confident in it to move forward. Thank you for all your comments. Hope to join your club in the very near future. :) ..

In retrospect, my handle might need to change given how much confusion it may cause since the car is not miami blue! :)

Happy New Year to all!
 
#28 ·
Now that I have moved on to the purchase phase. I am hoping you guys can give me some feedback or thoughts.

Given the relatively high interest rates these days for even excellent credit, i am going to pay cash for it. The best offers i could get even with credit union is mid 3%s. The other have been high 3 and low 4%. My reference point has been that my wife's BMW in March got 0.9% from BMWFS. I was originally planned 50% down and financing the rest but now i am going to pay the whole thing off. And here is the question that i need advice on.

Last time i paid cash for a car, i was able to show up at the dealer with a bank check and do the pickup since it was near to me. In this case, the car is a few states away and the travel to/from will be take me a weekend overall. Given my work schedule, weekdays are not an option and i don't have any business travel to that area planned etc. I guess the route is to wire the dealer the money and have them ship the car to me. It will be logistically the easiest and ,maybe, even the cheapest go this route. It will also be the fastest way to get the car.

So here is my question, how do i make sure that my wiring of the money to the dealer leaves me protected. Is there a mechanism that i should follow?I guess what is bothering me is that I don't necessarily feel secure just wiring $60K to an account at a place that i have never visited or to people i have never met.

Just to be clear, it is a Porsche dealership from which i am buying it from.

Thank you
 
#29 ·
You should have a contract from the dealer adequately describing the car and equipment, the price including breakdown of delivery terms and that it will be shipped promptly upon receipt of funds delivered to the dealer. Have a conversation with your SA and discuss this with him/her. If it's well spelled out, there should be no problems.
 
#31 ·
Thank you. Will get all the small details spelled out on the contract.

Or contact the sales manager to confirm the contract details. A SA at Champion Porsche (south FL) recently made off with hundreds of thousands by forming a "look alike" Porsche broker business. Can't believe anyone actually fell for it, but they did. It's your money and caution is always good in that regard.

Wow.. that is scary. I will be a hawk on the little details to cover myself! Thank you for the info.
 
#30 ·
Or contact the sales manager to confirm the contract details. A SA at Champion Porsche (south FL) recently made off with hundreds of thousands by forming a "look alike" Porsche broker business. Can't believe anyone actually fell for it, but they did. It's your money and caution is always good in that regard.
 
#46 ·
Yes, but this was on high end GT cars. Not that the high price, limited supply and large dealer mark up justifies what he did. Thankfully most Porsche dealers and their SA’s do their best to take care of their clients.
 
#32 ·
"I guess what is bothering me is that I don't necessarily feel secure just wiring $60K to an account at a place that i have never visited or to people i have never met. "

You haven't visited the dealership???

Just a thought, but another option you might pursue is to have the seller (dealer) ship it to your local dealer who might happily act as an intermediary on the assumption you will be bringing the car to them for service (where the dealers actually make their money!)
 
#34 ·
Mission accomplished! Car was delivered to me on Tuesday.

I had a seamless transaction and car transfer - all done remotely. I never stepped into the dealership or saw the car. I guess it is the modern day norm.

Thank you all for your input! You guys were great!

I am now a card carrying member of your club!! :) :)

 
#35 ·
Beautiful!
 
#39 ·
Sure. Glad to help.
1. I was emailed a PDF of the purchase agreement for my approval. I checked to make sure that my deposit had been applied etc. Also verified what entity took it out of my credit card i.e. not a weird name from West Africa or something.

2. Simultaneously, i did the transfer of the funds via bank transfer. They acknowledged receipt within one hour of the transfer. I researched the dealership and the salesman on line. Of course, there was a leap of faith here that the account that i was sending the $$ to was not in West Africa ;-) .

3. They overnighted me two sets of the docs to sign. One set to keep and one set to send back.This was the purchase agreement signed by their finance manager and the original car title for me to keep and use to get my local tag and reg. Also included was a doc stating that the shipping of the car to my location was my affair. ( I had already arranged pickup by a company that the dealership uses. However, i had to call and make payment as well as arranged the drop-off. The salesman took care of coordinating the car pickup.)

4. Car showed up as planned with a one day delay due to a snow storm and the MLK holiday.

It was pretty seamless and painless. I would do it again.

Hope this help! Good luck!
 
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