How to Buy a Used Porsche Cayenne
The Porsche Cayenne remains one of the most heralded and luxurious SUVs on the road today. But with retail prices on new Cayennes often stretching in excess of $100,000 with taxes, fees and a host of luxury options, buying pre-owned could save you tens of thousands of dollars. Shopping for a used Cayenne is not substantially different from looking for other types of used cars, but because of its high cost, it is best to secure financing before you start shopping.
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Instructions
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Browse for Porsche Cayennes on popular online car sales sites to get a general idea of the array of models and, more important, a range of prices. The primary goal at this stage is determining how much financing to arrange for. Links to some leading sales websites are listed in the Resources section below.
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Schedule an appointment with your bank, credit union or loan agent to discuss pre-qualifying for a car loan. When you make the appointment, ask about any personal or financial documentation you must bring to the meeting.
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Work with your bank or loan agent to pre-qualify for a loan in the amount of your maximum car shopping budget. This will not be an actual loan or a guaranteed payout, but rather a promise from the bank to grant financing up to the stated amount. Having this promise in writing essentially will give you the buying power for the car you want.
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Begin shopping for used Cayennes by going to the online sites listed in the Resources listed here, or through other car sales sites. Most of these sites allow you to search based on multiple criteria, so take your time and set all the search fields carefully. You can restrict your search to certain model years, price ranges and feature packages. You should also select the nearest dealer locations so it will be easier to test drive and inspect an SUV.
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Keep a list of all the strong online leads. The easiest way to do this is to bookmark each car listing that interests you in the Web browser. You may also want to print out the listings so you can compare them side by side.
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Expand your search by also checking the local phone book for used Porsche dealerships, used dealers of imports, new Porsche dealers that might have a few used cars, and auto repair shops that specialize in Porsches or other imports. Call and ask about any used Cayennes. Discuss every car that you find to be available, and if you think it might be a good match, write down the details. Don't forget to include contact information for the seller.
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Compile all your leads from both online and phone searches. Rank each SUV you're considering in order of your level of interest.
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Contact one seller at a time, starting with the Cayenne at the top of your list. Arrange test drives with each seller who can meet with you, and ask any and every question you may have about the car.
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Take the time to personally inspect each car to your satisfaction, and bring a paper, pen and camera with you to make notes and photographs. If you're looking at several models, this will help you keep the facts straight about each one. Continue the test drive process until you find a car you're serious about buying.
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Contact the seller of the car you like best to express your interest. You may have to produce your loan pre-qualification letter to the seller. Ask about getting an independent inspection for the vehicle before you buy it. Sometimes a seller will offer to pay for this, but usually buyers make arrangements to pick up cars from the sellers and take them to their own mechanics for inspections at their own expense. Have the car inspected by a mechanic you trust. This will cost $100 or more, depending on the thoroughness of the inspection and the mechanic's rates, but for a car in this price category, it's well-worth the expense.
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Talk to the mechanic afterward for feedback and input on whether or not you should buy the car. If problems are discovered, inform the seller. You can then decide if you want to buy the car at the advertised price, or if you want to buy it at all. You can also try to bargain with the seller for a lower price, because you may have to make repairs.
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Once you and the seller have agreed on a price and discussed method of payment, go back to the bank or credit union that pre-qualified you and finalize the car loan.
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Pay the seller and make sure the seller transfers the title over to your name at this time. Collect the keys and enjoy your new Porsche Cayenne.
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Resources
- Photo Credit Photo courtesy of automedia.com
