PCNA Centrelock recall
Discussion
Depends what you think being off the road for 50 days has actually “cost “ you and what is reasonable to expect ?
For instance if financed and interest has cost you say £822 over that period ( assumed £75k loan at say 8% ) it’s a start.
If no finance then assume opportunity cost lost instead also at 8%.
You could also add prorata Insurance cost ?
That probably gets you to around the £1,000 in total.
For instance if financed and interest has cost you say £822 over that period ( assumed £75k loan at say 8% ) it’s a start.
If no finance then assume opportunity cost lost instead also at 8%.
You could also add prorata Insurance cost ?
That probably gets you to around the £1,000 in total.
alscar said:
Depends what you think being off the road for 50 days has actually “cost “ you and what is reasonable to expect ?
For instance if financed and interest has cost you say £822 over that period ( assumed £75k loan at say 8% ) it’s a start.
If no finance then assume opportunity cost lost instead also at 8%.
You could also add prorata Insurance cost ?
That probably gets you to around the £1,000 in total.
Well your rate of interest is less than Porsche' APR, you haven't included depreciation (£1000+ ?), in exchange for lack of use the amount borrowed should be the value of the car rather than expecting the freebie of the owners capital (£1500+?), insurance could have been £300+, ... so I think you are easily at £3000. Hence I suggested that OPC's could give value ... a cost less to them and a value much more to the customer. Plus other costs ... RFL, 1/12th of a service, a portion of the warranty value, etc.For instance if financed and interest has cost you say £822 over that period ( assumed £75k loan at say 8% ) it’s a start.
If no finance then assume opportunity cost lost instead also at 8%.
You could also add prorata Insurance cost ?
That probably gets you to around the £1,000 in total.
This is not rocket science ...
Edited by ChrisW. on Friday 31st January 15:57
ChrisW. said:
alscar said:
Depends what you think being off the road for 50 days has actually “cost “ you and what is reasonable to expect ?
For instance if financed and interest has cost you say £822 over that period ( assumed £75k loan at say 8% ) it’s a start.
If no finance then assume opportunity cost lost instead also at 8%.
You could also add prorata Insurance cost ?
That probably gets you to around the £1,000 in total.
Well your rate of interest is less than Porsche' APR, you haven't included depreciation (£1000+ ?), in exchange for lack of use the amount borrowed should be the value of the car rather than expecting the freebie of the owners capital (£1500+?), insurance could have been £300+, ... so I think you are easily at £3000. Hence I suggested that OPC's could give value ... a cost less to them and a value much more to the customer. Plus other costs ... RFL, 1/12th of a service etc.For instance if financed and interest has cost you say £822 over that period ( assumed £75k loan at say 8% ) it’s a start.
If no finance then assume opportunity cost lost instead also at 8%.
You could also add prorata Insurance cost ?
That probably gets you to around the £1,000 in total.
This is not rocket science ...
It would be silly to try and include depreciation.
It’s not like Porsche haven’t sorted what is effectively a recall.
I also have ignored the worth of any loan car.
Absolutely don’t disagree with your suggestion but the “compensation “ amount total will also depend on the individuals ability to negotiate and their “ worth “ to the dealer.
Apologies if I came across as being sharp ... everybody will have their own value and therefore view, ... it's the OPC's that I can't understand.
What is their margin on good service / servicing / earlier access to a new car if available ... etc ? £1000 for 50 days potential use of a Porsche less costs is ... in my view incompetent.
There is so much that is good about Porsche cars ... surely the OPC's can do better.
What is their margin on good service / servicing / earlier access to a new car if available ... etc ? £1000 for 50 days potential use of a Porsche less costs is ... in my view incompetent.
There is so much that is good about Porsche cars ... surely the OPC's can do better.
Edited by ChrisW. on Thursday 30th January 10:11
Most recalls do not result in a stop drive though which is the crux here and differentiates the rate of compensation payable.
Depreciation is entirely relevant and as such Porsche paid a fair monthly rate to 991 GT3 owners for the period off road when our cars could not be used following the stop drive order.
Depreciation is entirely relevant and as such Porsche paid a fair monthly rate to 991 GT3 owners for the period off road when our cars could not be used following the stop drive order.
alscar said:
Depends what you think being off the road for 50 days has actually “cost “ you and what is reasonable to expect ?
For instance if financed and interest has cost you say £822 over that period ( assumed £75k loan at say 8% ) it’s a start.
If no finance then assume opportunity cost lost instead also at 8%.
You could also add prorata Insurance cost ?
That probably gets you to around the £1,000 in total.
did you accept the £1000 ?
For instance if financed and interest has cost you say £822 over that period ( assumed £75k loan at say 8% ) it’s a start.
If no finance then assume opportunity cost lost instead also at 8%.
You could also add prorata Insurance cost ?
That probably gets you to around the £1,000 in total.
did you accept the £1000 ?
ChrisW. said:
Apologies if I came across as being sharp ... everybody will have their own value and therefore view, ... it's the OPC's that I can't understand.
What is their margin on good service / servicing / earlier access to a new car if available ... etc ? £1000 for 50 days potential use of a Porsche less costs is ... in my view incompetent.
There is so much that is good about Porsche cars ... surely the OPC's can do better.
Absolutely no need to apologise. What is their margin on good service / servicing / earlier access to a new car if available ... etc ? £1000 for 50 days potential use of a Porsche less costs is ... in my view incompetent.
There is so much that is good about Porsche cars ... surely the OPC's can do better.
Edited by ChrisW. on Thursday 30th January 10:11
OPC’s have for many years “ not needed “ to do better so when events like this happen it’s alien to them in terms of customer care.
av185 said:
Most recalls do not result in a stop drive though which is the crux here and differentiates the rate of compensation payable.
Depreciation is entirely relevant and as such Porsche paid a fair monthly rate to 991 GT3 owners for the period off road when our cars could not be used following the stop drive order.
Different circumstances though. Depreciation is entirely relevant and as such Porsche paid a fair monthly rate to 991 GT3 owners for the period off road when our cars could not be used following the stop drive order.
Ultimately it would be hard to say on the CL recall that your car fixed today is worth any different to what is was always going to be worth.
samnic1085 said:
Chris is probably correct that my numbers are on the light side so maybe £1,500 might be closer in pure cash terms.
Negotiation is all about both sides ending up happy.
alscar said:
av185 said:
Most recalls do not result in a stop drive though which is the crux here and differentiates the rate of compensation payable.
Depreciation is entirely relevant and as such Porsche paid a fair monthly rate to 991 GT3 owners for the period off road when our cars could not be used following the stop drive order.
Different circumstances though. Depreciation is entirely relevant and as such Porsche paid a fair monthly rate to 991 GT3 owners for the period off road when our cars could not be used following the stop drive order.
Ultimately it would be hard to say on the CL recall that your car fixed today is worth any different to what is was always going to be worth.
The monthly compensation amount would include an element covering natural depreciation which is what we are concerned with here and nothing to do with any depreciation caused by this specific issue long term.
It also should include finance cost/opportunity cost of capital and a 'disturbance' element to compensate for loss of use depending on the period off road which may be partly reimbursed by whether a loaner/quality of loaner being provided by the OPC.
So the OPC wants to value your money (after tax) at less than they would value their money (before tax) ...
Might they offer any incentives for you to make it easy for them ?
Or is this a big company challenge in the sense of "what are you going to (can you) do about it ?"
I guess this is why Americans are so quick to run to Class Actions ... but it's guaranteed to sour a relationship having to fight.
Might they offer any incentives for you to make it easy for them ?
Or is this a big company challenge in the sense of "what are you going to (can you) do about it ?"
I guess this is why Americans are so quick to run to Class Actions ... but it's guaranteed to sour a relationship having to fight.
ChrisW. said:
So the OPC wants to value your money (after tax) at less than they would value their money (before tax) ...
Might they offer any incentives for you to make it easy for them ?
Or is this a big company challenge in the sense of "what are you going to (can you) do about it ?"
I guess this is why Americans are so quick to run to Class Actions ... but it's guaranteed to sour a relationship having to fight.
Although Porsche didn't 'blacklist' us following our UK class action they backed down and coughed up ££ because they literally had no choice.Might they offer any incentives for you to make it easy for them ?
Or is this a big company challenge in the sense of "what are you going to (can you) do about it ?"
I guess this is why Americans are so quick to run to Class Actions ... but it's guaranteed to sour a relationship having to fight.
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