718 GT4 UK Allocations

[LiamH66]

Curv3hunter said:

Are new allocations for GT4 still a thing? or would I be wasting my time speaking to my local dealer?

For context, Ive owned multiple Porsche's inc GT4,3 and RS but never bought one new from any dealer. Only history with OPC is servicing.

Wouldn't let any of that worry you if you genuinely want a new one. My local OPC has offered that if they get any GT4 allocations before my GTS 4.0 order freeze date, they'll let me choose between the two. It's evidently on the basis that it will be my 4th car from them. It may also be that I'm relatively painless as a customer, and of course because it might mean they have a GTS 4.0 build slot as well as a GT4 order from me, but definitely doesn't sound like the order book is closed.

Never any harm in a conversation. Most won't take a deposit for a GT car before they know they expect an allocation, but if you don't let them know you are interested, you will definitely never get the chance. I'm sure you won't be wasting your time speaking to them, even if it might feel like it.

Liam

[GRD_72]

Redline88 said:

Was this recently though? Other thing to consider is current wait times which seem to be >12 months for other models. Or maybe that’s just me trying to make myself feel better have gone used

I collected February this year. It was a 16 month wait from deposit to delivery which is perhaps a longer than many experience so maybe one or two ‘good’ customers jumped in ahead of me. I did not pressure them, when the deposit went down I simply said I’ll call in 6 months for an update. The allocation was confirmed in August for Nov delivery & that slipped 3 months. It’s a gamble, I was severely pissed off at one point as used prices had increased significantly and I really did not expect to get the allocation with all the rumours of production ending.

[AMV93]

I think people will start pulling out of waiting lists too. The inevitable downturn in used car prices (and likely reduction in 'overs' for desirable cars), coupled with the massive increase in PCP interest rates should weed any flippers out of the queue, and there will absolutely be some belt-tightening over the coming months, with non-essential but large purchases like this being on the chopping block.

Such are the lead times that the economic climate was completely different even only 6 months ago, so I imagine a lot of customers awaiting an allocation are in a different financial position now than they were back then, or they can see things changing for themselves in the near future.

[Andyoz]

AMV93 said:

I think people will start pulling out of waiting lists too. The inevitable downturn in used car prices (and likely reduction in 'overs' for desirable cars), coupled with the massive increase in PCP interest rates should weed any flippers out of the queue, and there will absolutely be some belt-tightening over the coming months, with non-essential but large purchases like this being on the chopping block.

Such are the lead times that the economic climate was completely different even only 6 months ago, so I imagine a lot of customers awaiting an allocation are in a different financial position now than they were back then, or they can see things changing for themselves in the near future.

This is exactly what's going to play out and anyone suggesting this 6 months ago was shouted down...

Covid was always going to lead to massive swings in supply/demand dynamics and anyone using the past two years to try to predict the next two years was delusional IMO.

Edited by Andyoz on Friday 4th November 15:15

[Ed T]

This is what I have done. I've just pulled out of a waitlist and I'm buying very low mileage used GTS 4.0 with cash at a c.£10k saving from rrp not to mention the finance saving or the price increase Porsche would levy on me before my new order would arrive. Probably saving me £20k

[shibby!]

Im feeling this right now.

I sold my car at the height of the market start of September. Knowing i was going to buy a GT4 November/December.
At the start of October the interest rates om financing the car were 6.9% at Oracle.... Roll on start of November and Porsche are up at 10.8%,

I am definitely not buying with a 10% interest rate, now i am holding off for further prices drops, i was really hoping for price drops towards Christmas and the interest rates to stay while i save for a bigger deposit.

So, who knows what i will do now and when... In fairness its a champagne problem to have.

I can't be the only one in this situation so i expect the higher end car market to slow down majorly.

[b0rk]

I think the market has been quite a bit softer over the last 18months than it may have appeared considering the relative ease some people found getting allocations for what was supposed to be a hard to get GT product going for overs… I say this as someone that had no buying history and no Porsche history at all but received an allocation in mid/late ‘21 and a car in spring ‘22.

The higher interest rates may well unmask how soft the market has been under the surface. It’ll be curious to see if a visible softening sees more run the exits trying to capitalise any gains or at least mitigate losses on what might have been assumed to be bomb proof “investment”..

[GT4RS]

shibby! said:

Im feeling this right now.

I sold my car at the height of the market start of September. Knowing i was going to buy a GT4 November/December.
At the start of October the interest rates om financing the car were 6.9% at Oracle.... Roll on start of November and Porsche are up at 10.8%,

I am definitely not buying with a 10% interest rate, now i am holding off for further prices drops, i was really hoping for price drops towards Christmas and the interest rates to stay while i save for a bigger deposit.

So, who knows what i will do now and when... In fairness its a champagne problem to have.

I can't be the only one in this situation so i expect the higher end car market to slow down majorly.

You did well to sell when you did, wholesale bids are dropping fast.

Plenty of people are in the same shoes as you and are sitting on the side lines waiting to see what the car market will do before jumping back in.

10% interest is ridiculous

[Andyoz]

GT4RS said:

shibby! said:

Im feeling this right now.

I sold my car at the height of the market start of September. Knowing i was going to buy a GT4 November/December.
At the start of October the interest rates om financing the car were 6.9% at Oracle.... Roll on start of November and Porsche are up at 10.8%,

I am definitely not buying with a 10% interest rate, now i am holding off for further prices drops, i was really hoping for price drops towards Christmas and the interest rates to stay while i save for a bigger deposit.

So, who knows what i will do now and when... In fairness its a champagne problem to have.

I can't be the only one in this situation so i expect the higher end car market to slow down majorly.

You did well to sell when you did, wholesale bids are dropping fast.

Plenty of people are in the same shoes as you and are sitting on the side lines waiting to see what the car market will do before jumping back in.

10% interest is ridiculous

I think you'll find historically what's ridiculous is the run of low interest rates since 2009 matched with artificially low inflation.... It was always going to fall over itself..

[GT4RS]

Andyoz said:

GT4RS said:

shibby! said:

Im feeling this right now.

I sold my car at the height of the market start of September. Knowing i was going to buy a GT4 November/December.
At the start of October the interest rates om financing the car were 6.9% at Oracle.... Roll on start of November and Porsche are up at 10.8%,

I am definitely not buying with a 10% interest rate, now i am holding off for further prices drops, i was really hoping for price drops towards Christmas and the interest rates to stay while i save for a bigger deposit.

So, who knows what i will do now and when... In fairness its a champagne problem to have.

I can't be the only one in this situation so i expect the higher end car market to slow down majorly.

You did well to sell when you did, wholesale bids are dropping fast.

Plenty of people are in the same shoes as you and are sitting on the side lines waiting to see what the car market will do before jumping back in.

10% interest is ridiculous

I think you'll find historically what's ridiculous is the run of low interest rates since 2009 matched with artificially low inflation.... It was always going to fall over itself..

I don’t disagree, but let’s not forget low interest rates have allowed many who wouldn’t normally be able to afford a Porsche GT car into GT car ownership.
This has driven porsche to manufacture more and more new GT cars year on year globally. There’s a strong possibility that a large number of porsche GT car owners who choose / or will not be able to buy a new porsche GT car due to the higher cost of borrowing.

Like you say, now is the time it falls over itself and many have already sold up or will soon try and sell up to minimise loses.

[SpyderMatt]

Andyoz said:

I think you'll find historically what's ridiculous is the run of low interest rates since 2009 matched with artificially low inflation.... It was always going to fall over itself..

Yep. I’m amazed it lasted so long. All my kids have multi year fixed rate debt under 2.5%, it was so obvious it couldn’t last forever….

[ags11]

Andyoz said:

I think you'll find historically what's ridiculous is the run of low interest rates since 2009 matched with artificially low inflation.... It was always going to fall over itself..

Exactly this. I was chatting to someone yesterday who was complaining about base rate at 3%, I’m no oracle on such things, but historically I’d reckon that’s not particularly high…

[NA3pedals]

ags11 said:

Andyoz said:

I think you'll find historically what's ridiculous is the run of low interest rates since 2009 matched with artificially low inflation.... It was always going to fall over itself..

Exactly this. I was chatting to someone yesterday who was complaining about base rate at 3%, I’m no oracle on such things, but historically I’d reckon that’s not particularly high…

Spot on, I think 2008 was first time base rate has ever gone below 3%, average prior to that was much higher.

[LiamH66]

GT4RS said:

You did well to sell when you did, wholesale bids are dropping fast.

Plenty of people are in the same shoes as you and are sitting on the side lines waiting to see what the car market will do before jumping back in.

10% interest is ridiculous

Back in 1989, when I couldn't get a mortgage for less than 15%, so there was no easy way onto the property ladder, I bought my first "half decent" car. Loan from the bank for a big chunk of the value. 29% APR if I remember right.

We've had a long run of cheap borrowing for 15 years or so. I think that party might be over for a little while now. 10% interest doesn't seem too terrible to some of us old'uns!

Liam

[Joscal]

Yes it’s definitely looking a lot like 2007 unfortunately. Hopefully it won’t be worse, I do worry about the younger ones who don’t know any different it’s never made any sense to me this buy now pay later thing it’s fine for cars or mortgages but when just eat offer it there has to be something very wrong imho.

[Andyoz]

Joscal said:

Yes it’s definitely looking a lot like 2007 unfortunately. Hopefully it won’t be worse, I do worry about the younger ones who don’t know any different it’s never made any sense to me this buy now pay later thing it’s fine for cars or mortgages but when just eat offer it there has to be something very wrong imho.

It's a bit like 2007 except alot of people have much higher combined monthlies to deal with now compared to then. At least in 2007 they had a 5% base rate to play with when crap hit the fan. Not now...the games up with nowhere to hide. That's the issue.

[ags11]

It’s hard to know how long this new normal lasts. I guess it depends if inflation/interest rates have peaked yet?
We’re here for a few years anyway.
As usual lost confidence will be an issue too.

The fear of the tight labour market still driving up wages and pushing inflation is still there, similar really to the supply issues driving up car prices!

[av185]

ags11 said:

The fear of the tight labour market still driving up wages and pushing inflation is still there, similar really to the supply issues driving up car prices!

Yep the supply issues componentry shortages and rising prices are factors which the doomongers constantly choose to ignore.

[kmpowell]

My 2p FWIW is anyone expecting large prices to drop on a car that is: in short supply new + very near end of life + has a used market with limited supply (if you factor in desired options) + values governed by the manufacturer and used screen prices over list, is probably going to be waiting a long time.

The interest rate is a red herring in all this. 10-12% interest rate used (7-9% on new) is pretty normal over the past decade, it's just we have been acclimatised to discount interest rates over the past few years. A 3-5% interest rate rise can be offset by any yield in other investments.

There are of course going to be cases against this, I'd guess however this will be for strange/basic/off spec cars, but even then I wouldn't expect much discount.

What nobody knows is how the Russian war and china will impact all this. Those are the unknown major determining factors, not IMO the base recession/COL.

[GT4P]

av185 said:

Yep the supply issues componentry shortages and rising prices are factors

This is true but the Cayenne uses wiring looms from Ukraine but look how many are coming to the market new and unregistered, the 718 gt4l limited by supply but over 60 for sale on OPC similar story for all 718 4litre models, the 992 mostly built during covid yet over 300 used for sale on OPC site.
If anything the supply issues is helping Porsche for now on the sports car range but with over supply of secondhand cars growing (in excess of 1700 OPC cars for sale up from 1300 only a few months ago)paints a different picture. In normal times the amount of used cars is about 1200 for sale at anyone time

Edited by GT4P on Sunday 6th November 11:25