New lease deal an attempt to stop flipping
Special Porsches can sell for double MSRP or more
Like many exclusive automakers, Porsche hates flippers as much as its potential buyers do. Customers who snap up the latest special edition only to sell it for double or more the next day is a sore spot for everyone who wants a Porsche. The company thinks it might have solved the problem.
The 2024 Porsche 911 S/T is the latest hot 911. It’s a $300k 911 that has loads of parts from the GT3 and GT3 RS models, with a lighter flywheel, shorter gears, and plenty of carbon fibre bodywork. The problem is that Porsche is only building 1,963 copies.
So how will Porsche stop flippers?
By only allowing customers to lease the car. In the U.S., at least.
“When the 911 S/T – marking 60 years of the 911 – was announced, we received unprecedented interest in the car, far outnumbering the number destined for the U.S.,” Frank Moser, the exec in charge of the 911, told a media roundtable (via The Drive). “We want to ensure that cars are available reach true enthusiasts, to be driven and enjoyed for years to come. For this reason, those allocated a 911 S/T in the U.S. will be required to adhere to an agreed minimum retention period, set at one year.”
Porsche will hold them to that year by not transferring ownership until after the year. Moser said that owners won’t get their title until that year is up.
At least in theory, buyers won’t be able to flog their 911 for the first year after purchase. After that, it’s fair game. The theory is that the extra year will cool the hype for the car, making it less appealing for flippers. Because this is Porsche, and 12 months from now there will be an even specialer special edition.
Will it work? Ask us in the spring of 2025, when the first used models should be hitting the market.