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Discussion Starter · #1 ·
This posted to "sales and leasing" but I want to hear Cayman owners advice..
Originally Posted by egar09 View Post
Anyone have any insight on purchasing a Porsche at auction? Specifically, Manheim auctions. I have a dealer friend ..
I'm doing this next week. My friend will not be there but has a couple people on the ground there. I'm a bit concerned but they sound confident that CarFax and their other means are adequate. Is CarFax adequate? What else can you do?
I use-up cars! My glorious 43 mile commute(each way) has the choice of several routes, two different mountains, twistys, river roads, interstate, small towns and a small city. I love it! Been doing it for 18 years. I am looking for a 2007 base car with higher miles. I will drive the car every day, winter and summer, rain, snow and darkness of night. I would expect to put 180-200k miles on so that's why I don't want to pay for a low miles car. I do all my own work on my cars. I plan to set up a good winter wheel/tire package and maybe even a limited slip.
Anyone see a problem with this logic? I'm very excited. Thanks, C.
PS My wife and I had a '71 911T for a couple years but it was a toy and I didn't have to work on it much...
 

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CarFax isn't adequate. I had a frame-bending accident in another car that didn't show on CarFax. I wouldn't buy any car at an auction like that unless you really know what you're doing. You need to inspect the car and know exactly what to look for in terms of wear and damage.
 

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I have purchased several Mercedes Benz cars this way. So have my Dad and my brother. And about 20 guys I work with. Not a single problem. These were all nearly new high end cars.

If you get a car that still has factory warranty remaining, and you trust that the person at the auction can inspect the car and find a perfect looking vehicle, you are just as likely to get a reliable car as from anywhere else. Porsche dealerships included. You could take the money you save and buy an aftermarket extended warranty and still come out ahead of the game.

We all tend to think of our cars as more than the pure commodity items they really are.

The guy I have used to buy cars for me in the past charged a flat fee of $750 to $1000 on top of the actual price at auction. I am still driving the 99 ML430 I got with 2 years and 28,000 miles on the odometer for almost HALF of the price it was new. Same story with the 2002 Silver Arrow. $95,000 car for less than 50k after 2.5 years and 24k miles. Both cars were like new with factory warranty time left, and in the case of the SL, a local dealer was asking $75k for the same car when I bought mine for $50k.

On a related note, some argue that repossessed high end cars are actually more likely to be well cared for than a leased car that the driver never intended to keep.

Correct me if I am wrong, but when a Porsche lease is up the dealership where you drop it off has the option to buy the car from Porsche leasing first. Then it goes up internally for dealerships across the country. Then they get wholesaled. Most lease returns end up in the wholesale market, and many CPO cars came from the wholesale market. The used car side of a dealership might be bidding against you for a given car at an auction. CPO cars are not any more "special" beyond the warranty. You can buy an extended warranty with the money you save.

Maybe others have had bad experiences that they can tell here. Mine and those of many people I know have been positive.
 

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I agree about Carfax- I bought a BMW Z3 years ago- worked fine, clean CarFax, but when I went to sell it for an M Roadster I learned from the dealer it had BMW replacement body panels, a sure sign of crash history.
 

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I bought my DD at Manheim. 07 Sonata MT. A great buy. I check Manheim's site for Caymans. Many offered there are fairly rough compared to private sale cars I see. And, after paying Buyer's & auction fees, not that good a deal. You ( and any help you can get) are responsible to check the car before bidding. Difficult, since you can't drive it.
Most dealers tell me that Manheim will make good a car with undisclosed damage - but it must be reported quickly and verified by Manheim's agent.
I prefer dealing with the owner & getting a PPI by a dealer. A $200 PPI on a 996 for my nephew saved him thousands. I still see very good private party deals out there. It is still a buyers market for used somewhat expensive " toys ". Compared to lower cost 4 doors, which are bringing good prices now. The best deals on used Caymans seems to have been about 1 to 1.5 years ago.
Getting out of a badly bought car is a tough & expensive learning event that I would rather avoid.
Good luck.
 

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I bought my first (and still only) Porsche from a dealer who I found out later had bought it from auction. I really didn't know what I was doing and thought that a clean CarFax was all anyone needed to determine how a car had been treated. WRONG!!!! The CarFax showed a history clear of accidents but after owning it for a few weeks I decided to take it in to a Porsche mechanic who pointed out to me that the car had been in a rear end collision, that it was probably repaired by a mobile B&F guy and never reported so it didn't show up on CarFax. If a car is serviced but what is done is only reported as "service" you don't know if it was serviced correctly i.e. the right oil or parts used, or if any corners were cut to save money. I found out later that many cars are sold on auction because they are "trouble prone" vehicles that are being dumped on the market, picked up cheap by dealers and sold at a discount to buyers but represent a huge profit margin for the dealers. I've been fortunate with my Boxster, which I found out later was bought on auction by the dealer I bought it from, and have had nothing major happen to it and I will eventually put out the money to fix the rear bumper in a few years when I have the car repainted. If you buy and auction car have someone along who knows what to look for and caveat emptor.:cheers:
 

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Cars found at auctions can also later be found at a Porsche dealer as a CPO car.
For example:

Vehicle: 2006 Porsche Cayman S (WP0AB29806U781915)

Event Date Event Location Odometer Reading Data Source Event Detail
09/18/2006 BATON ROUGE, LA
449
Motor Vehicle Dept. TITLE
09/18/2006 LA
Motor Vehicle Dept. TITLE (Title #:A8565376)
09/18/2006 BATON ROUGE, LA
Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
06/17/2008 LA
Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
09/25/2009 TX
22,040
Auto Auction REPORTED AT AUTO AUCTION
09/28/2009 TX
22,040
Auto Auction AUCTION ANNOUNCED AS FLEET/LEASE
01/26/2010 TX
22,161
Auto Auction REPORTED AT AUTO AUCTION
02/26/2010 MISSION, TX
Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
03/22/2010 MISSION, TX
22,181
Motor Vehicle Dept. TITLE (Title #:01520740247110030) (Lien Reported)
04/06/2010 SAN ANTONIO, TX
22,181
Porsche Cars North America CERTIFIED AS PORSCHE APPROVED CERTIFIED PRE-OWNED VEHICLE
 

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Discussion Starter · #10 ·
Thanks J Web, that's very interesting. Makes me feel better about the whole process. The dealer I'm working with has assured me again that they have their ways and are good at evaluating these cars quickly using both their people on site and their cyber means. Thanks, C.
 

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This posted to "sales and leasing" but I want to hear Cayman owners advice..
Originally Posted by egar09 View Post
Anyone have any insight on purchasing a Porsche at auction? Specifically, Manheim auctions. I have a dealer friend ..
I'm doing this next week. My friend will not be there but has a couple people on the ground there. I'm a bit concerned but they sound confident that CarFax and their other means are adequate. Is CarFax adequate? What else can you do?
I use-up cars! My glorious 43 mile commute(each way) has the choice of several routes, two different mountains, twistys, river roads, interstate, small towns and a small city. I love it! Been doing it for 18 years. I am looking for a 2007 base car with higher miles. I will drive the car every day, winter and summer, rain, snow and darkness of night. I would expect to put 180-200k miles on so that's why I don't want to pay for a low miles car. I do all my own work on my cars. I plan to set up a good winter wheel/tire package and maybe even a limited slip.
Anyone see a problem with this logic? I'm very excited. Thanks, C.
PS My wife and I had a '71 911T for a couple years but it was a toy and I didn't have to work on it much...
As a number of members have said, Car Fax is not a reliable source. I also agree that buying from an auction is a gamble. If you buy from a dealer you should insist on the background history of the car. If they are no willing to document the history, then run don't walk. Private party can be an excellent place to buy a great car, if you are willing too 1. Pay the price for a great car. 2. Buy from an original owner, who has services records and has nothing to hide. As the old saying goes there is no free lunch! Good luck!
 
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