Euro vs Dollar, should I buy 991 now?
#1
05-26-2015 | 06:16 AM
Euro vs Dollar, should I buy 991 now?
I've been tracking the Dollar to the Euro exchange rate and it's $1.00 to 1.09EU as of today. I'm retired Military and have the opportunity to fly to Europe for free, order my US spec 991 without the Germany Vat Tax (at a Porsche Dealer in Germany, where I used to be stationed). I have a friend that still works there and he said he thinks this idea is doable. Porsche has a European delivery program. I could drive the car for a few weeks, then ship it home. Shipping is about $2,500. I'm thinking about what state should I register the car. My wife has a Florida drivers license, but we have friends in Texas, Arizona and a few other states we could possibly tag the car in without paying a lot of taxes.
I'm thinking we could drive the car for two years and then sell it for what we paid for it, because of the EU to dollar rate. We would save a lot of money with now. Any ideas, would be appreciated. Cheers!
I'm thinking we could drive the car for two years and then sell it for what we paid for it, because of the EU to dollar rate. We would save a lot of money with now. Any ideas, would be appreciated. Cheers!
#2
05-26-2015 | 07:56 AM
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Porsche limits the exportation of vehicles to prevent gray market resales. I recall that my dealer wanted me to sign a six month security interest pledge in their favor on a cash purchase.
Check out any limitations on retitling and export.
...if you have thought about a way to play the arbitrage against Porsche, they are way ahead of you already.
Check out any limitations on retitling and export.
...if you have thought about a way to play the arbitrage against Porsche, they are way ahead of you already.
#3
05-26-2015 | 09:34 AM
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The military program has been around for many years and is also offered by other German car manufacturers.
If you can get it for 20-25% less than buying in the US, then it might be worth it.
The rationale being that it will be worth about that much less after 2 years of ownership, seeing it sounds like you are trying to breakeven after 2 years of ownership and perhaps even make some money out of this venture.
As for registering in a convenient state (or with friends) to avoid high taxes, you're on your own with that one..
If you're trying to save money then I would suggest buying a used one in the US and enjoying the original owners depreciation hit.
If you can get it for 20-25% less than buying in the US, then it might be worth it.
The rationale being that it will be worth about that much less after 2 years of ownership, seeing it sounds like you are trying to breakeven after 2 years of ownership and perhaps even make some money out of this venture.
As for registering in a convenient state (or with friends) to avoid high taxes, you're on your own with that one..
If you're trying to save money then I would suggest buying a used one in the US and enjoying the original owners depreciation hit.
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