Discussion
In the case of failures I've known the manufacturer to step in and cover deposits.
I'm not talking Porsche here I'm talking in general,the manufacturer has more to loose than the deposits at one dealership,that sort of thing could start a loss of faith in the brand as many customers see the transaction being with the brand and not specifically the dealer.
I'm not talking Porsche here I'm talking in general,the manufacturer has more to loose than the deposits at one dealership,that sort of thing could start a loss of faith in the brand as many customers see the transaction being with the brand and not specifically the dealer.
Juno said:
In the case of failures I've known the manufacturer to step in and cover deposits.
I'm not talking Porsche here I'm talking in general,the manufacturer has more to loose than the deposits at one dealership,that sort of thing could start a loss of faith in the brand as many customers see the transaction being with the brand and not specifically the dealer.
Yep, Renault dealer here, when a dealer just outside of our area went bust 10 years ago, before we ultimately took it over all orders were distributed to other dealers, no money was lost it was all covered.I'm not talking Porsche here I'm talking in general,the manufacturer has more to loose than the deposits at one dealership,that sort of thing could start a loss of faith in the brand as many customers see the transaction being with the brand and not specifically the dealer.
Erniemcp said:
If it were protected it’s required to say so in the contract. None of the contracts I’ve had/have mention it. Your credit card may not protect you if the vendor goes into receivership . The broader Observation I was making is how as a group of buyers we provide free working capital to the dealers without question. For cars the dealers don’t have confirmation on or have paid any money to HQ for yet . When the car does get on site it’s almost the first not time I get a prompt call from the dealer looking for their money especially if it’s month end. They care about use of money but we seem not to. As much as we love their cars the relationship does seem very skewed.
About 20years ago i placed a £3k deposit on the much mooted but ultimately ill fated Lotus M250..I did so at the London Motorshow and subsequently the retailer i placed the deposit with went bankrupt.After just a phone call to the Credit card company i used, i had a full no quibble refund..A friend who also placed a deposit at the same time with the same retailer for the same car, lost his deposit as he'd paid cash..
Taffy66 said:
About 20years ago i placed a £3k deposit on the much mooted but ultimately ill fated Lotus M250..I did so at the London Motorshow and subsequently the retailer i placed the deposit with went bankrupt.
After just a phone call to the Credit card company i used, i had a full no quibble refund..A friend who also placed a deposit at the same time with the same retailer for the same car, lost his deposit as he'd paid cash..
Wow yes I remember that,would have been a cracking car! How time flys.After just a phone call to the Credit card company i used, i had a full no quibble refund..A friend who also placed a deposit at the same time with the same retailer for the same car, lost his deposit as he'd paid cash..
Any deposit you place e on anything as a consumer won’t be ring fenced....whether it’s a sofa, kitchen or a car. That won’t change as there is a rick element to these transactions for the vendor. On a Porsche it’s small but it’s still there. No idea how the cash flows but given it’s a Porsche GB policy my guess is that they get some of the deposit and more than likely Porsche AG takes some or perhaps most of it...after all they have massive working capital needs.
I was in my OPC between Xmas and New Year a couple of years ago....a buyer had walked away from deposits on two cars which they were scrambling to sell that day as needed them in their year end numbers. One of them was a Cayenne with a s
tty spec which they’d definitely have struggled to shift.
I was in my OPC between Xmas and New Year a couple of years ago....a buyer had walked away from deposits on two cars which they were scrambling to sell that day as needed them in their year end numbers. One of them was a Cayenne with a s
tty spec which they’d definitely have struggled to shift. Gassing Station | 911/Carrera GT | Top of Page | What's New | My Stuff