Porsche Fights Back Against Flippers with Exclusive One-Year Lease for New 911 S/T

Porsche takes action against flippers with its latest offering, the limited-edition 911 S/T, priced at $290,000.

Rather than selling the car outright, Porsche has implemented a unique strategy. Customers who secure an allocation at their local dealership will enter into an initial one-year lease for the 911 S/T. During this period, ownership transfer and selling of the car are prohibited, preventing immediate resale for profit.

This groundbreaking policy was revealed by Porsche vice president Frank Moser and discussed in a report by The Drive.

Moser explained during a media interview at Rennsport Reunion 7, an event for Porsche enthusiasts at the Laguna Seca racetrack in California, that the overwhelming interest in the 60th-anniversary 911 S/T, coupled with the limited U.S. allocation, prompted this decision. The aim is to ensure that true enthusiasts can enjoy and drive these cars for years to come. Buyers in the U.S. who secure a 911 S/T must commit to a minimum retention period of one year.

Moser further elaborated, stating that during this period, the cars in the U.S. will be leased before ownership is transferred. This measure is exclusive to the 911 S/T, and the first cars are scheduled to arrive in the U.S. in spring 2024.

This move comes as no surprise. Limited-edition Porsches have a history of selling out quickly and subsequently appearing on the second-hand market at inflated prices. Those who missed out on a dealer allocation are often willing to pay these high prices. For example, the 911 R from 2016 had a retail price of $143,000, but its value surpassed $500,000 on the used market just months after production began.

However, one year is not a significant period, and it may take Porsche some time to build and deliver all 1,963 S/T models. This could result in the first cars nearing the end of their lease just a few months after the final car is delivered. Owners may then decide to sell, and eager buyers who missed out will be ready to make offers.

While this strategy may deter flippers from purchasing the S/T, as they will need to hold the asset for a year and potentially pay 12 months of interest if they borrowed money for the purchase, Porsche’s primary goal is not necessarily to control second-hand prices. The company aims to see more rare Porsches, like the S/T, being driven rather than stored, ensuring enthusiasts can truly enjoy these exceptional vehicles.