I've been told by a dealer that they would sell their white launch car for 13% off.

 

That's not a bad deal. A little better than what I got but I really like the whole team at Porsche of the Village in Cincinnati. When I factored the dealer into my decision it became a no brainer. I've never had an issue with them in my nine year relationship.

That said, you might want to consider the dealer as well as the price.

 

ive been negotiating with a few dealers within the past week, and i've been offered $10k off msrp at all of the dealers ive talked to briefly. I'm sure you could get a little more off as well.

 

go to edmunds.com to find the invoice and aim for 1000-3000 above depending on your negotiating skills.

 

Could you share who you have been speaking with. I have been looking for a new Black 2009 Cayman S with PDK for the past couple of months, and the most I have been able to get is $ 8 off MSRP. I have been dealing with West coast dealers.

 

10-13% off MSRP sounds about right....another problem however is Porsche Financial Services and how stringent they are with financing...has anyone experienced issues...I have an immacualte credit history and have been denied...can anyone provide any advice?

 

So they offer 1.9% financing and then they won't give it to you, even with very good credit? The world is weird right now. I applied for a Capital One credit card a few months back. My credit score was 817 and I never made a late bill payment or carried a balance in 40 years. Should have been a 10 second approval-instead I got rejected with a perfect record.

Pretty bold of Porsche considering how many Caymans I saw rusting away in the moist Florida humidity and sun on Reeves' lot yesterday. I'm sure the other dealers have crowded lots too. Porsche almost went under a few years back. Looks like they didn't learn anything. I sure wouldn't want to drive a soon to be extinct Croc!

Quite a few Florida Porsche dealers carry a Better Business Bureau rating of "F"-the lowest of the low, including Porsche Premier List member, Braman Imports. I would be very careful in dealing with Porsche.

 

So they offer 1.9% financing and then they won't give it to you, even with very good credit? The world is weird right now. I applied for a Capital One credit card a few months back. My credit score was 817 and I never made a late bill payment or carried a balance in 40 years. Should have been a 10 second approval-instead I got rejected with a perfect record.

Of course you got rejected..........they won't make any money from you...you pay on time........they want those folks who carry a balance at 29.9% interest and occasionally miss a payment so they can ding you another $65 late fee......

Times have changed.....the banks are not your friend any more...

.

 

The #1 reason I have seen lately for rejected applications is debt ratio. You can have perfect credit, but if your debt ratio is over 50%, good luck!
I have learned from a few reliable sources that Porsche has 10% markup in their vehicles. They also get "marketing incentives" which most manufacturers call rebates. This stuff is kept a pretty good secret by most dealers. You cannot get both the marketing incentive and the low interest rates. I guess you have to weigh what adds up to the best total deal. Some banks are offering equity lines around 2 1/2% right now, so if you can get one of those, you are better off doing that and getting a couple grand off on the car. Of course, you have to have that kind of equity in your home......
If you live by credit, it will catch up to you and the way things are right now, too much debt is a very big reason for a lot of turn-downs.

 

I guess I would qualify for the 1.9% financing. I own my house free and clear and the only debt I have is a small zero percent loan on my wife's car.

 

The most I've been able to get on a new 2009 is 8% off MSRP. The
salesdroid claimed a 10% markup and 3% dealer holdback but also
claimed that the 3% was taken by the owner and never seen among
sales staff and so was completely unwilling to include that in
negotiations.

I had a 13% off offer on a never-titled 2009, but it had 500 miles on it, so
must have been a demo. One might surmise that in this case the
dealer was willing to give up the holdback to move the car given the
mileage.

I have not seen 13% off on a new 2009 with no miles on it.

 

The most I've been able to get on a new 2009 is 8% off MSRP. The
salesdroid claimed a 10% markup and 3% dealer holdback but also
claimed that the 3% was taken by the owner and never seen among
sales staff and so was completely unwilling to include that in
negotiations.

I

Porsche does not have holdback.

 

It has been my experience that when dealers offer low interest rates, they are less likely to agree on a good % off MSRP for the consumer. 8% off MSRP combined with 60 months of 1.9% financing isn't bad.

 

Purchased a leftover SY Cayman S less than two weeks ago. $20,000 off MSRP and 1.9%. Financing wasn't a problem. Purchased car in Texas

 

let me clarify leftover. 08. thanks gm

 

Looks like those deals are finished with the 08's. All the Porsche ads now indicate 1.9% on 2009s; nothing about 2008's.

 

I've come across a Porsche dealer that told me he had 'certificates' that he could use to 'buy down' the rate to 3.9% on pre owned. Ever since then I've asked every dealer if they could do the same and they claim to never have heard of such a thing. What gives?

 

I know that some dealers get certificates from Porsche from time to time that do vary from dealer to dealer. The number of certificates depends on the dealers volume and customer satisfaction rating. These usually apply to new cars, but they may apply to Porsche certified pre-owned as well.
Just as you can pay points on a mortgage to get the rate down, you can also buy down the rate on an auto loan. The dealer may just be telling you they have certificates to do this, or may have something from Porsche, but the rate can be bought down.
One thing I have found is that Porsche and the dealers are very good at keeping incentive information secret. You can find out customer and dealer incentives for most new vehicles in the market. Search everywhere and you will find nothing from Porsche except what you can find on forums, but you don't know how accurate the info is.
Dave

 

I messaged a local dealer about an 08 last week. 2008s are still included in the 1.9% financing. That is however if you can even qualify though Porsche financial. If the 08 cs at my local dealer is still there next month I'll submit an offer. If not I'll walk away and wait for the 2010's to come in and look for a reduced 2009 with Porche's next deal.

 

Thanks for the feedback. Good luck in your attempt to qualify for the 1.9%.
Last year I bought my wife a VW Rabbit and I immediately qualified for the zero per-cent loan for three years. With Porsche, who knows?

 

The best thing about buying a new car is that there are no differences between each individual one, i.e. the product is 100% described by the color + options list, as opposed to used cars that vary in many more parameters. Even better is when the buyer knows what options he/she wants. Given that, the best way to find out the lowest price for the car is not by analyzing the seller's (dealer's) cost structure but to use the free market's supply/demand information. Simply email/fax ALL Porsche dealers within driving radius (200miles?) from your home with a quote request that clearly states:
-- your color, options preferences;
-- the fact that all other dealers are also receiving the broadcast;
-- that the lowest price that is closest to your preferences will close the deal;

... then just sit and wait for the market to sing to you. This way allows you to find the lowest price without having to estimate the level of distress (or lack thereof) in the market. This is how I've bought couple of my own cars and have helped friends do it as well. Quick, easy, and beautiful in its simplicity.

Hope this helps, and good luck!

Z.

 

Sounds like good advice.

 

Amex has a service where you tell them what car you want and they transmit that information to dealers within a few hours of your home. I used it once and got a great deal. The dealers emailed me with their bottom offer and picked the low 2 and made a few phone calls. One of the easiest car deals I ever made.

 

Thanks. A good reason to get an American Express card. Problem is if I apply for one now, my credit score goes down a bit and PFS may use that as an excuse to reject me for the 1.9% rate.