Porsche Englewood (NJ) $20k Waitlist Deposit

[laua]

Hi - anyone have experience with ordering at Porsche Englewood in NJ? Team seems pleasant but they’re asking for a refundable 10-15% deposit just to get on the waiting list for a 4S CT.

I don’t mind paying a deposit and appreciate the need for some “skin in the game” but that’s $20k tied up just to be on a waitlist. I plan to make a few calls around as that doesn’t seem to be the norm per my research here but wanted to get a more local view to see if anyone has experience with them.

Edit: for the record, I had some more discussions citing what I learned here and quotes from other dealers, it looks like the number will come in some to a more reasonable four digit amount. Thanks all for your input!

Sponsored

 

[whitex]

Hi - anyone have experience with ordering at Porsche Englewood in NJ? Team seems pleasant but they’re asking for a refundable 10-15% deposit just to get on the waiting list for a 4S CT.

I don’t mind paying a deposit and appreciate the need for some “skin in the game” but that’s $20k tied up just to be on a waitlist. I plan to make a few calls around as that doesn’t seem to be the norm per my research here but wanted to get a more local view to see if anyone has experience with them.

Some dealers don't ask for anything for a "demand order". Fewer ask for a refundable $5K. All require some non-refundable deposit (varying from $5K to 10% of the price) at the time of locking the order with an allocation.

I've talked to a bunch of dealers during my year and half search for an allocation, and only met one which asked for $15K (IIRC) to get on a waitlist, and the way they explained it, it was actually pre-paying the ADM up front, non-refundable too, but no guarantees whatsoever when the allocation would drop.

The 10% deposit sounds more like a non-refundable deposit to lock the allocation. Did they tell you this is a waitlist for an allocation, and if so, how many people ahead of you, and did they tell you how many allocations they've gotten this year (to gauge the allocation rate they are getting)?

 

[laua]

They told me it’s a waitlist for an allocation. Definitely not locking in an allocation at this point which is what confused me as they said the high deposit is needed to essentially hedge my unusual build; to which I responded why would it matter if I don’t have an allocation yet! I never really got a straight answer; just got some hand waving and vague references to people willing to pay over MSRP. The gentleman also couldn’t tell me how many orders were ahead of me without asking his manager (who was out).

In any case I’m expecting to hear back from his conversation with the Sales Manager on Monday to see what the actual deposit will be. Not off to a good start though.

 

[whitex]

They told me it’s a waitlist for an allocation. Definitely not locking in an allocation at this point which is what confused me as they said the high deposit is needed to essentially hedge my unusual build; to which I responded why would it matter if I don’t have an allocation yet! I never really got a straight answer; just got some hand waving and vague references to people willing to pay over MSRP. The gentleman also couldn’t tell me how many orders were ahead of me without asking his manager (who was out).

In any case I’m expecting to hear back from his conversation with the Sales Manager on Monday to see what the actual deposit will be. Not off to a good start though.

Yea, it doesn't sound like a good start. The one dealer which asked for a high pre-paid ADM to even get on a waitlist was actually one of 3 Porsche dealers within an hour or so driving distance of my house, but I chose to no do business with them. From the other two other dealers nearby, one asked for $5K refundable (which I was fine putting down) and 10% on allocation lock, and the other one placed a demand order for free and only talked about $7.5K on allocation lock . Neither of them got me an allocation in a year and half, but didn't leave me with any bad feelings - I would buy another car from either of them and will service my Taycan with one of them. The one which asked for pre-paid ADM to place a demand order left such a bad aftertaste in my mouth that I will avoid them in the future, both for purchase and service. Since I ended up finding my own allocation across the country, I asked for a refund of the $5K deposit and got it without any issues.

As for stories over MSRP, sure, it used to happen not long ago, but even then it wasn't anywhere near as much or as often as the dealer would like you to believe. I remember looking at a eTron GT about a year ago as a possible substitute for a Taycan. They were giving me the "we can sell it with $30K ADM in California", "you will have the super rare car", stories, I passed on the car. A month later they called me with "we're willing to negotiate", I told them I am a strong believer in capitalism and it offends me that they are making such a horrible business decision offering me the car at $5K ADM, if they can get $30K ADM from a California buyer . In truth I passed on the car because I didn't like the sedan trunk, but I would not have paid them ADM either way, MSRP was my limit (I never paid MSRP for any car before with the many new cars I purchased in the past, so I already adjusted willing to pay MSRP).

PS> If the sales manager tells you a different story than your current SA, ask for a different SA and keep your guard up, make sure you get things on paper and read everything you sign. Or find a different dealer, might be less stressful. I would strongly suggest talking to different dealers in your area, allocations are in fact starting to become available without waitlists. Check out threads like these:

• https://www.taycanforum.com/forum/threads/available-allocations-incoming-taycans-msrp.8963/page-12
• https://www.taycanforum.com/forum/t...ations-msrp-east-coast-usa.13954/#post-211049

DM the OP's like @ssim to put in demand orders with their SA's for free - it costs you nothing until you accept an allocation. I would also suggest contacting any dealers with whom you place a demand order once you find and accept an allocation at another dealer - a courteous thing to do letting them know you are no longer in the market.

 

[mdrobc1213]

Yea, it doesn't sound like a good start. The one dealer which asked for a high pre-paid ADM to even get on a waitlist was actually one of 3 Porsche dealers within an hour or so driving distance of my house, but I chose to no do business with them. From the other two other dealers nearby, one asked for $5K refundable (which I was fine putting down) and 10% on allocation lock, and the other one placed a demand order for free and only talked about $7.5K on allocation lock . Neither of them got me an allocation in a year and half, but didn't leave me with any bad feelings - I would buy another car from either of them and will service my Taycan with one of them. The one which asked for pre-paid ADM to place a demand order left such a bad aftertaste in my mouth that I will avoid them in the future, both for purchase and service. Since I ended up finding my own allocation across the country, I asked for a refund of the $5K deposit and got it without any issues.

As for stories over MSRP, sure, it used to happen not long ago, but even then it wasn't anywhere near as much or as often as the dealer would like you to believe. I remember looking at a eTron GT about a year ago as a possible substitute for a Taycan. They were giving me the "we can sell it with $30K ADM in California", "you will have the super rare car", stories, I passed on the car. A month later they called me with "we're willing to negotiate", I told them I am a strong believer in capitalism and it offends me that they are making such a horrible business decision offering me the car at $5K ADM, if they can get $30K ADM from a California buyer . In truth I passed on the car because I didn't like the sedan trunk, but I would not have paid them ADM either way, MSRP was my limit (I never paid MSRP for any car before with the many new cars I purchased in the past, so I already adjusted willing to pay MSRP).

PS> If the sales manager tells you a different story than your current SA, ask for a different SA and keep your guard up, make sure you get things on paper and read everything you sign. Or find a different dealer, might be less stressful. I would strongly suggest talking to different dealers in your area, allocations are in fact starting to become available without waitlists. Check out threads like these:

• https://www.taycanforum.com/forum/threads/available-allocations-incoming-taycans-msrp.8963/page-12
• https://www.taycanforum.com/forum/t...ations-msrp-east-coast-usa.13954/#post-211049

DM the OP's like @ssim to put in demand orders with their SA's for free - it costs you nothing until you accept an allocation. I would also suggest contacting any dealers with whom you place a demand order once you find and accept an allocation at another dealer - a courteous thing to do letting them know you are no longer in the market.

Yes you're well advised to look around for another dealer somewhere else who can give you some real timelines and a real allocation at a reasonable price. That $20k price tag for the promise of a car maybe is ridiculous...its not a Ferrari Pista or the last Lamborghini Aventador for christ sake.

They told me it’s a waitlist for an allocation. Definitely not locking in an allocation at this point which is what confused me as they said the high deposit is needed to essentially hedge my unusual build; to which I responded why would it matter if I don’t have an allocation yet! I never really got a straight answer; just got some hand waving and vague references to people willing to pay over MSRP. The gentleman also couldn’t tell me how many orders were ahead of me without asking his manager (who was out).

In any case I’m expecting to hear back from his conversation with the Sales Manager on Monday to see what the actual deposit will be. Not off to a good start though.

Ah..its just a car man! No dayum way I'd be giving up $20k just to go on a wait list. No way. Some dealers are still in the mindset that the buyers and their cash are quickly to be parted and tales of no cars mean they can continue to ask unreasonable stuff like this. Yes someone is willing to pay but why? No guarantee to get a car on any timeline and to pay up front 2021 + 2022 prices (actually) for something you MAY get sometime in the future which MAY be worth that much more or not is crazy. Nothing sounds promising about anything you've been told and of course you're getting vague promises on this promised CT4 which in itself is not some special or limited edition car either.

 

[TaycanCook]

I've never seen as many used taycan ct coming on the market as I've now. They are continually having their prices reduced. Someone has missed the memo that the market is softening.

 

[Icebergmikey]

Check around, my dealer only asked for $1k deposit for a wait list..

 

[timo]

Eff that

Nationwide search, there are allocations out there.

 

[whitex]

Someone has missed the memo that the market is softening.

They didn't miss the memo, they are trying to ride the urban legend of "$30K over MSRP". As the world is coming out of the pandemic, there are people to whom "car shortages", "used car market boom" is still fresh in their mind after hearing it in the media for over a year, so with a few people, telling them "other dealers sell it for $30K over, but we are going to do you a huge favor and sell to you with only $10K" might sound like a good deal.

As for the $30K urban legend for Taycans, I still suspected it was mostly what a few dealers LISTED the car for, and maybe a handful of them managed to SELL at that price at the very peak of the market.

 

[whitex]

Eff that

Nationwide search, there are allocations out there.

In the "old days", a good SA would do that for you, then trade allocations to get you what you want. In today's world, unfortunately you have to do the search yourself and pick up a car at Porsche Experience Center closest to you, or from the dealer who sold it to you and drive it home or ship it.

 

[poppap]

Doesn’t sound like a good practice. At my local dealership it’s no cost to get on the “waiting list” and I paid $5,000 non-refundable deposit when I secured the allocation. The price is at MSRP with no ADM for RWD. If I were to get the incoming GTS, that was already spec’ed there was $15k ADM. This was back in April 2022, don’t know if thing changed now, I’ll ask around when I go to take delivery.

 

[wemct]

@laua - I have done business with both Porsche Danbury and Porsche Fairfield (both in CT) without any of the nonsense you mentioned. I had the first US Taycan 4S on this forum and even back then when allocations were super scarce, I didn't pay any deposit until my order was confirmed with a build date. (full disclosure - I have purchased many Porsches from both dealers). The local dealer in Georgia where I currently live wanted a deposit for an allocation for a new Cayenne S Coupe. I emailed my old SA at Porsche Fairfield 3 weeks ago. He got me an allocation (the car is about to enter production, I have the commission number and confirmation from Porsche NA), and I haven't paid any deposit yet. The kicker is that I am having the new car delivered to the Atlanta PEC, so my wife and I will get a track day, lunch, and no miles on the new car that was purchased in CT, and we will drive it home right after delivery. The days of being limited to doing business with the local dealer are obsolete.

 

[whitex]

Doesn’t sound like a good practice. At my local dealership it’s no cost to get on the “waiting list” and I paid $5,000 non-refundable deposit when I secured the allocation. The price is at MSRP with no ADM for RWD. If I were to get the incoming GTS, that was already spec’ed there was $15k ADM. This was back in April 2022, don’t know if thing changed now, I’ll ask around when I go to take delivery.

Interesting. When I went to Bellevue (June 2021) it was $5K refundable to get on a waitlist, 10% non-refundable to lock the build with an allocation. I was at the exact same spot on the waitlist a year and half later but found an allocation at another dealer, so took my $5K back (no problems, was quick and painless to request and get it). Perhaps they had too many deposit refunds so they decided it's not worth the hassle to take deposits for waitlists?

 

[ssim]

10-15% deposit just to be on a waitlist is completely unreasonable. A deposit of $2.5-5k is much more reasonable, though as @whitex mentioned, some SAs (like mine) accept order demands at MSRP with no deposit required until allocation. And once you receive the allocation, the deposit is refundable until the allocation locks. Unless the client's spec is super loaded, or a unique color combination, incredibly large deposits shouldn't really be required for Porsches unless there's ADM involved...that makes things a bit different.

In regard to the market softening, I'm seeing it as well on the pre-owned side of things, but the availability of new allocations / inventory is still not enough to satisfy demand. Interestingly, there seems to be stronger demand for the higher trims. If my SA emailed me today about 5 available 4S and GTS allocations, they would all be gone in a day. We still have 1 RWD Sedan allocation left.

CTs are still rare, but a 4S allocation can now be configured as either a Sedan or CT if you're able to secure it quick enough (I think after a certain time, even as the allocation sits at V200, a body-style choice must be made). We see a bunch of 992 GT3s for sale online, but new allocations / stock are limited. People value being able to order, configure, and be the first owner of a car...This is more true with Porsche than other brands.

If anyone has questions about the ordering/allocation process, you're welcome to PM me! I've seen a thing or two

 

[PetroK]

They are very small dealer, not getting a lot of allocations, so you wait might be longer as well. I live few minutes away from them and originally preordered Taycan with them when it was only announced. Had 1k deposit down and they refunded it without problem, when I decided not to get Taycan at that point. They have pretty good service department, but in regards to ordering, I would try some bigger dealer like Ray Catena

Sponsored