Would SOR put you off
Discussion
As someone who's just put a GT3 up for SOR in such pristine condition that the dealer couldn't find any prep work to do*, I wouldn't necessarily worry. I'd want to see details of exactly what they looked at in the inspection to work out if "no prep" means nothing to be done, or whether corners are being cut.
Pete
(* I know, I know, why on earth am I selling this beauty?!)
Pete
(* I know, I know, why on earth am I selling this beauty?!)
pete a said:
I have seen a car that is my perfect spec but it is with a dealer on sale or return, would you expect to pay normal dealer price for a SOR car or would you be expecting it a little cheaper due to lack of warranty etc, though a warranty can be added to the price it seems.
A "normal" SOR car should be treated no different to other dealer stock, so price shouldn't differ. If however the dealer is brokering what is really a private sale then you'd expect to make a saving.Slippydiff said:
Less than 12 months into your ownership ? I take it you haven't you bonded with it ?
It's the best car I've owned, probably the best car I will ever own! It's the age-old story of "new baby and larger house forces sale".I'll be back in a 911 of some flavour with back seats and a bit more ground clearance soon; Mrs Pete actually insisted on it!
Pete
I'd be happy buying a SOR car, in fact I did buy my car in this way through an OPC.
I don't think I'd ever sell one myself in this way again though! I had a poor experience some time back with a well known independent dealer, although I did get my money in the end. OPC's seem a more secure way to do a SOR deal, but no-one is immune to problems in the current climate, just ask the people who've lost out to Verdi/Saffron/Hollingsworth etc......
Saying that, didn't OPC Norwich go tits up?
I don't think I'd ever sell one myself in this way again though! I had a poor experience some time back with a well known independent dealer, although I did get my money in the end. OPC's seem a more secure way to do a SOR deal, but no-one is immune to problems in the current climate, just ask the people who've lost out to Verdi/Saffron/Hollingsworth etc......
Saying that, didn't OPC Norwich go tits up?
You need to be very careful when buying a car that's being sold on behalf of the customer. Like Mark we make no differentiation in most cases, we treat it as though it is a stock car to the point where the customer wouldn't know that we don't own it. It makes absolutely no difference, we stand to them in exactly the same way as we do our own stock. We do have a bit of a one off going on the site soon where it will be sold as seen but that's a one off and you'll understand why when you see it.
However and here's the important part, most dealers selling cars on SOR won't stand by the car afterwards. They will argue they merely acted as brokers between you and the owner. When this is the case they should make the fact the car is being sold on SOR clear in the advert, this isn't always done. Given you are getting less by way of comeback in the event of a problem it should be cheaper than the equivalent dealer owned car. The problem is they are usually more expensive because the owner of the car is trying to get more than trade money and the dealer still needs to make a sensible margin otherwise they go out of business causing a world of pain.
The one exception to the SOR rule is when a car is being sold on SOR to preserve a warranty benefit. You should still be looking to get the dealer's normal back up in addition to the warranty.
Traditionally adverts stating, "selling on behalf of a customer" set the alarm bells ringing. I've seen countless written off cars sold in this way over the years for instance. The reality is that the dealer only saves the cost of the finance to stock the car which isn't a huge amount if you assume 7-8% interest per year and a car in stock for a couple of months. £135 per £10,000
There are times when SOR works, namely hard to value or extremely expensive cars. For most Porsches though there are plenty of people out there who will write out a cheque in the trade, well its actually an electronic transfer these days.
On a final note I'm not sure you are more likely to get money off more easily on an SOR car. The whole reason its SOR is because the owner wants top dollar. If they're going to reduce the amount then they might as well have taken a trade bid initially and had the money in the bank risk free some time previously. To get the car in the yard the dealer will have had to promise a high returned figure, so to go and offer less makes no sense, although it happens which often results in the owner being no better off!
Henry
However and here's the important part, most dealers selling cars on SOR won't stand by the car afterwards. They will argue they merely acted as brokers between you and the owner. When this is the case they should make the fact the car is being sold on SOR clear in the advert, this isn't always done. Given you are getting less by way of comeback in the event of a problem it should be cheaper than the equivalent dealer owned car. The problem is they are usually more expensive because the owner of the car is trying to get more than trade money and the dealer still needs to make a sensible margin otherwise they go out of business causing a world of pain.
The one exception to the SOR rule is when a car is being sold on SOR to preserve a warranty benefit. You should still be looking to get the dealer's normal back up in addition to the warranty.
Traditionally adverts stating, "selling on behalf of a customer" set the alarm bells ringing. I've seen countless written off cars sold in this way over the years for instance. The reality is that the dealer only saves the cost of the finance to stock the car which isn't a huge amount if you assume 7-8% interest per year and a car in stock for a couple of months. £135 per £10,000
There are times when SOR works, namely hard to value or extremely expensive cars. For most Porsches though there are plenty of people out there who will write out a cheque in the trade, well its actually an electronic transfer these days.
On a final note I'm not sure you are more likely to get money off more easily on an SOR car. The whole reason its SOR is because the owner wants top dollar. If they're going to reduce the amount then they might as well have taken a trade bid initially and had the money in the bank risk free some time previously. To get the car in the yard the dealer will have had to promise a high returned figure, so to go and offer less makes no sense, although it happens which often results in the owner being no better off!
Henry
Henry thank you for your detailed and clearly written reply,you really do come across as someone who is truly passionate about the cars and your business and i wish you all the very best, I have been keeping a keen eye on the classifieds of late and i must say you have sold a lot of cars lately and good luck to you.
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