Help please !

[uktrucks]

I currently buy & sell trucks /plant etc with my Brother and we make a reasonable livelyhood, however I am only busy 1 or 2 days a week. I am thinking of opening a small unit in & around Milton Keynes to sell only watercooled Porsches.
I will try to pitch good cars at reasonable money but need to make a contribution for the capital employed so I cant do it for nothing.

Hope to include some on sale or return [fully insured etc] + my own stock
and to also offer a transition step for those wishing it from 924/944/968 into early or higher mileage 986.

Do you think a market exists ?

Allan

 

[John Sims]

Hi Allan,

Whilst disgustingly jealous that you can make a comfortable living only working one or two days a week, I wish you all the best with your venture.

The 968 is frequently noted in the press as being a superb handling car and ideal for track days. The 944 and 924 are vastly under rated and perhaps shunned by those who don't know their merits - "Not a real Porsche is it mate?" However, more people seem to be considering what a bargin baby supercar 944s can be.

Many more people have track day cars than they did - 10 years ago such things were unheard of. As such people get over the out and out stupidity of a Caterham or Westfield (it rains in England) they look for a more sensible track day/fun car. The 944 and 968 cater for this entirely. (Do you want to buy a Westfield? - I've got one I grew out of.) 924s 44s & 68s are also sufficiently cheap that you can consider them for track work, where as a 911 is going to cost so much more in the event of a big off.

Many front engined, water cooled, Porsche owners see the cars on the merits of the car its self, the badge is almost incidental. A prospective buyer may even feel put off by the thought of going to a Porsche (as in 911) dealer for fear of being sneered at for considering anything but a "proper Porsche".

How many people know that they could own a Porsche, which will be reliable every day car and yet still fun, for £5K?

Noting all of the above, marketed correctly, you could be on to a winner.

Having just written the intro for the proposal to your bank manager/accountant, do you want to give me a job? I am a little awkward though, in so far as I would like to work more than two days a week []

 

[Diver944]

Hmmm an interesting idea.

I have noticed that since buying my first 944 over 5 years ago, that the specialist Porsche dealers are carrying less and less 944's. Five years ago I could look at all the major websites and there would be a selection of 944 to look at and compare, this is now rare. Back then I would ONLY have bought from a reputable dealer as I was a 944 virgin

I do see questions on various forums from potential 944 owners asking where to buy from and now that the price of most 944 are significantly under £10k they are always pointed to private sales in autotrader and Top Marques etc. People are often worried about this and like the 'security' of a dealer that only stocks good examples.

Maybe you have found a niche for the 944 virgins

 

[Fen]

The problem (and hence the reason the bigger names are dropping out of the market) is that the vlaue of these cars, hence the profit available, is reducing, but the costs of repairing a rogue one are still potentially very high. Also the chances of one you have being a rogue get higher every year.

It's a nice idea, but do you know the cars well enough not to get burned and do you have access to a mechanic with suitable experience and sufficient time to service a dealer, at reasonable cost?

 

[John Sims]

Also the chances of one you have being a rogue get higher every year.

Isn't this good from the point of view of a buyer who wants a good car in a market full of potential junk. He is more likely to go to a specialist and pay a bit more than in a private sale as he is getting piece of mind.

There are a lot of bad cars out there but most of those are bad through neglect and lack of LTC. Whilst such cars will require work doing to them they aren't necessarily terminal dogs and, assuming an in house mechanic or Porsche trained specialist at reasonable rates, the cost of repair/refurbishment should be more than covered by the selling price.

To some extent a refurb job may be more profitable than a car which is in good condition at aquisition. A £4K car at aquisition may only reach £5K at sale, where as a £1.5K car could see £4K at sale with only £1K spent on it.

 

[Fen]

You're absolutely right. Ultimately though this buyer is looking to transfer risk and is willing to pay dealer markup to do so. The risk is then with the dealer who has to have the experience to calculate it and also the turnover to spread the cost when (inevitably) he gets caught out on occasion. It wouldn't take a particuarly big 944 issue to wipe out the sort of profit I imagine you can charge on a £6k car. Sometimes also the new owner has broken the car but you can't prove it and you need to stump up to keep your reputation.

I don't want to sound like the voice of doom here, but why isn't there anyone else in this market already?
1. undersupply of decent cars
2. very high risk in terms of exposure : profit ratio

Actually I think maybe there are some others in this market. Prestige & Performance are not shy of a 944, 968 or even a 924 and EMC Performance seem to have a stock of 944's (though at Easter when I was looking the proprietor of EMC couldn't be bothered to show me 2 cabs he had even though I was willing to drive from Devon to Derbyshire or wherever he is to do so and had cash - tw@t in my eyes). Both of these deal in cars other than 4 cylinder Porsches though - is that due to 1. above?

I have friends who used to be in the trade and I considered it myself at one point. I came to the conclusion that it's better economically to try to sell Escorts than Esprits (and even then there are no guarantees) but I had no interest in selling shopping hatches so I gave up on it.

 

[Diver944]

Fen,

Do EMC have a website? I know I have searched for one in the past but have never found it?

 

[John Sims]

It strikes me Fen that Allan could do a lot worse than employ us as consultants for a couple of days just to thrash things out for him []

 

[Fen]

ORIGINAL: Diver944

Fen,

Do EMC have a website? I know I have searched for one in the past but have never found it?

They usually have a car or two in Autotrader and they have a 'Dealer Website' link from there. I think it's hosted by AutoTrader rather than having their own site.

 

[John Sims]

It was nice of Allan to thank us for taking time to consider his question. []

 

[Lemon]

This may be an old thread, but as I am searching everywhere to find myself a 944 Turbo or S2 I stumbled on this one.
I went to see EMC recently and after a 90 mile drive he was reluctant to take me out for a test drive in a vehicle.
Walked away very quickly after that. Cash burning a hole in my pocket for a 944 but dont need to deal with idiots like that.
Just thought I would put my ten pence worth in.

 

[John Sims]

Hi Lemon,

Porsche Post and 911 & Porsche World are a great place for private sales.

Cars in PP tend to be more expensive but then they can be in better condition as they have been owned by enthusiasts.

 

[Fen]

ORIGINAL: Lemon

This may be an old thread, but as I am searching everywhere to find myself a 944 Turbo or S2 I stumbled on this one.
I went to see EMC recently and after a 90 mile drive he was reluctant to take me out for a test drive in a vehicle.
Walked away very quickly after that. Cash burning a hole in my pocket for a 944 but dont need to deal with idiots like that.
Just thought I would put my ten pence worth in.

Well, that would tally with my experience of EMC. One to avoid then? Silly man, the Porsche community isn't that big in this country and you only get one shot at a reputation...

 

[ClubSport 911]

Lemon

Gary from MK region has his concours winning and highly "looked after" 944 Turbo for sale. 1988 - £10K. Just put 17" cups on it, Stainless exhaust, imac body, well sorted engine (285bhp) etc etc

Lives in MK

there is no £ in it for me, just doing everyone a favour (of course, if you feel so inclined.....)

RGDS

Steve

My god I just realised, I'm on a watercooled forum !!! []

 

[Fen]

ORIGINAL: Lemon

This may be an old thread, but as I am searching everywhere to find myself a 944 Turbo or S2 I stumbled on this one.
I went to see EMC recently and after a 90 mile drive he was reluctant to take me out for a test drive in a vehicle.
Walked away very quickly after that. Cash burning a hole in my pocket for a 944 but dont need to deal with idiots like that.
Just thought I would put my ten pence worth in.

Something I didn't pick up on before is the Turbo or S2 part.

Decide which you want - they are very different cars. Basically if you want to modify it get a Turbo, if you want to keep it standard get an S2 (find one with air-con if that's important - they do exist).