Porsche will lease 911 S/T to owners to deter flippers
The automaker wants to prevent a situation like the one with the Porsche 911 R.
Porsche recently unveiled its 911 S/T, with a limited production run of just 1,963 examples – translating to high demand for allocations. Porsche though, has introduced an unusual restriction in the ownership contract of the 911 S/T.
The new restriction in the contract dictates that Porsche will lease the 911 S/T to buyers for the first year, only after which, the ownership will be officially transferred to the respective buyer. This restriction by the German car brand has been added in a bid to limit the car’s prices from soaring brought about by the American flipping culture.
Frank Moser, VP of 911 & 718 Model Lines, Porsche, stated, We want to ensure that cars are available [to] reach true enthusiasts, to be driven and enjoyed for years to come.” He further added, “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.”
Reports state that the automaker wants to prevent a situation like the one which took place with the Porsche 911 R. Collectors & flippers flocked to buy the limited-production model, resulting in insane prices for the 911 R in the secondary market.
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