Exposing The Truth About Paying Over Sticker For a RS Porsche. My Experience.

Welcome back to the channel, where today we're tackling a topic that hits close to home for many enthusiasts: the high cost of chasing the latest and greatest Porsche. Specifically, I'm diving into the real-world financial impact of paying over sticker for a Porsche GT car, using my own GT4 RS as a case study.
A year and a few months ago, I took the plunge and paid a staggering $75,000 over sticker, all in cash, to get my hands on what I thought would be a sound investment. Fast forward to today, and the harsh reality has set in-the bulk of that markup has vanished, leading to a significant financial hit.
In this video, I'll break down the numbers in detail, exploring the true cost of ownership and the overall loss incurred. This isn't just about sharing my experience; it's about providing you with the knowledge to make smarter decisions. If you're ever faced with paying a markup, I'll discuss what might be a reasonable amount that won’t leave you regretting your decision down the line.
Join me as we analyze these critical financial aspects, and conclude with key insights that could save you from a similar fate. Whether you're a seasoned collector or a first-time buyer, this video is a must-watch for anyone considering paying over sticker for a Porsche-or any car, for that matter.
Remember to hit LIKE if you find this information valuable, COMMENT with your thoughts or experiences, and SUBSCRIBE for more honest, insightful automotive content. Let’s learn from each other and navigate the tricky waters of car buying together!
#porsche #gt4rs #gt3rs #gt3 #porsche911

[@noisetin]

In the past, Porsches were bought by enthusiasts, and enthusiasts only, who bought them to drive them, not to keep them under wraps. Hopefully we'll get back to that point soon, eliminating speculation by dealers.

[@MiamiMiles]

I wish we could get back to that….

[@got_gt3612]

Agree , just can not compare 3rs with 4rs . I strongly believe 4rs will go up because people did not realize what kind of car it is

[@DoWorkExotics]

But it’s not a 911. Sad but true.

[@got_gt3612]

@@DoWorkExoticsthere is no 911 as crazy as GT4RS

[@DoWorkExotics]

@@got_gt3612 oh no I love the GT4RS! And all Caymans. Actually prefer them. But the market will always love the 911. But I agree the GT4RS does things that no GT3 can do.

[@blendlinegarage42]

you are selling at the bottom of the market. Wait until they stop production

[@Unamatrix01]

The fundamental problem is that paying a premium over MSRP for a car will never be recovered.You have to view the premium as the amount of money you are willing to loose to get an early allocation and thus have the car sooner than others.The passage of time will see the premiums decrease and the cars sold at MSRP,the waiting is obviously the hard part.

[@kamrannaidoo93]

So glad you're back! Missed your vids the past couple weeks. Still not seeing 4rs at sticker. Cheapest I've seen is about $30k over on incoming new ones

[@MiamiMiles]

Yep. Problem is that most paid way over like me. If you buy today, $15-20k over i think you’re pretty well insulated

[@syton745]

​@@MiamiMiles based on your 20% calculation a 200k speed car would be $40k over sticker. You think that's still safe?

[@FlatsixSTM]

Hey, I applaud you for being honest and providing real numbers. Most would be embarrassed to say they lost money on a car. More people should be aware that stretching your finances to pay ADM is generally a terrible idea, just wait it out. The pendulum always swings back. Looking at cars as an investment is also usually a recipe for disaster, buy what you like and if it appreciates great, if not... who cares!

[@MiamiMiles]

Comment is on point. Thank you for sharing 🤜🏻

[@boundariesunlimited267]

Great product quality, definitely deserve more subscribers. Appreciate the honesty. I bought a 4RS with PCCBs, Mag wheels, 212k MSRP 7 months ago. I paid 25k over for it with 2yrs CPO. It had 500 miles on it. I thought it was a great buy, with factory warranty, CPO, and practically brand new. Attic grey, blue Mag wheels. Great video!

[@MiamiMiles]

Great buy and congrats on the epic car 🤜🏻

[@cfdProptrader]

Very True advise from painful experience. Thank you for helping car mad guys

[@warfire24]

This is really good advice. I even heard something very similar from a Porsche General Sales Manager at the dealership that supplies me with allocations. Waiting a little longer to see where the 4RS’s land before I make a move.

[@MiamiMiles]

Great move

[@porscheguy5848]

Please do more market videos! Love to hear your take on where car values are going.

[@MiamiMiles]

Will do!

[@jimphillips3669]

I feel your frustration. I canceled a 50k ADM GT4RS allocation because the market was coming down. We will see what happens. I enjoy your content. Ride on bro.

[@MiamiMiles]

Thanks for your comment my friend and good move cancelling the 4RS

[@rnlbluernlblue1380]

I just bought mine at the lowest price in the country and loaded! Weissach, PCCB, Lift, Mag wheels $225k! Having great connections at aftermarket stores is better than Porsche direct! Also full PPF!! Great video!! Also The base price for this car has gone up from $149k to $160k

[@MiamiMiles]

Good for you bro. Happy you got your car

[@plife911]

I think the car market 15 months ago was nuts. Everything came down and your car is still 35 over retail. Plus u drove it 1 year and 3 months. If u buy a cayenne you woulda lost more except for the writeoff Either way losing money on cars sucks😢

[@ToGoPhilippines-uz1qe]

Great advice!

[@jasons2562]

A week ago I looked at two 992 GT3 RS's In a showroom and I can see how these cars in person can mesmerize a potential buyer and make them crazy.

[@user-qi4pr4xl9v]

Does the deman gt3 have that same high pitched gt3rs type of sound? And also what’s the redline? Also do you know if it could fit in the 987 generations I think it would be really cool also how much did you pay for the engine?

[@MiamiMiles]

DeMan is high pitched and 9k redline. 987 idk my friend

[@user-qi4pr4xl9v]

@@MiamiMiles just think it would be a really cool build just heard that the deman cayman engines are more grumbly and don’t have that 9k rpm high pitch scream that I would want

[@rddiesel1]

The GM massage secret is to twist and then stroke most rookies mix that up. Good luck guys 🗣️

[@MiamiMiles]

🤣

[@JCviggen1]

I know this is made as an informative video, but it's extremely obvious that if you want to pay a silly anount of money over MSRP to get one of the first cars of a hot new model that they will definitely go on to build THOUSANDS of that you're not going to break even or make a profit a year or two down the line while the production of it is STILL RUNNING. If the people who can afford these cars aren't smart enough to realize this then I wonder how they made all that money in the first place lol. Porsche GT products have a very attractive total cost of ownership all things considered but assuming zero depreciation ever after playing the ADM game is taking things a bit far. 4RS prices will be strong in the future though, there won't be another.

[@MiamiMiles]

Everything you said here is on point

[@Daniel092511]

This is why you buy what you love, drive it long term, and enjoy every moment of it.

[@jafooli]

Was just a few years of RS hype. A lot of people buying just to flip. Porsche knew this and made loads of GT and RS cars to capitalize.

[@InconsequentialDot]

It is not depreciation when you overpaid for something because of the market hype then the market stabilizes.

[@Rnk_w]

Great video I’m in the process of negotiating a gt4rs, what do you think it’s worth Sticker is 188k they’re asking 238,500 cpo full ppf and it’s been tracked occasionally.

[@MiamiMiles]

Sounds like they have some room to negotiate. Wholesale on those cars right now is much less than that number.

[@Rnk_w]

@@MiamiMiles Thanks

[@Kayra865]

Gotta love the straight pipi 😩

[@rdspeedgarage948]

you should never pay over sticker to a dealer... What you should do is be loyal to the dealer who treats you right year after year. That's what we do :)

[@MiamiMiles]

Good move

[@richardly438]

Welcome back, Miles! The Cayman will go electric, and the 4RS will be discontinued this year. Hopefully, the price won't tank any lower. I have 3 cars (4RS, GT4, 991.2 GT3) sitting in my garage, and I regret not buying a 997.2 RS.

[@MiamiMiles]

Awesome garage my friend. And I agree about your 4RS take

[@watchingu83]

The 4RS will see a 2025 MY.

[@kmb96]

I’m a Porsche lover and although at 27 I could’ve bought a 911 already if I made a few different life choices lol I can say that there’s no way I’d financially shoot myself in the foot to pay as much over sticker as some are even if it does mean I’m the first to own it. I think that Porsche dealers have gotten away with it too long but these cars are meant to be loved, cared for, and driven. How can someone really with a good conscious mind enjoy and love a car that you know is just burning value because you chose to pay 50% of its msrp as a bribe to the dealer to allow you to be able to purchase it :/ My dream of the 992 generation for me is a vehicle I know is not coming back and that’s the Targa 4 GTS in manual and I’ve built one that’s sitting at 235k msrp on the builder. The most I’d be willing to do over would be maybe 25k but I’m a true enthusiast and I want to keep that car for life and teach my daughter to drive in it in a decade etc but these markups make me feel like even trying to order a T or even a 718 4.0 gts will have me at my max budget :/

[@Just_Drivers_Cars]

Solid. Admitting you overpaid is not easy. I paid about the same to get mine, so I can relate. That said I don’t plan on selling anytime soon. If I waited, getting my spec would be tough. And I wouldn’t be the first owner. For some people that doesn’t matter. But I wanted the car my way, and plan to keep it.

[@MiamiMiles]

Happy you love it my friend. The more I have it up for sale, the more I’m moving into your boat.

[@michaels3897]

Ok...my 2 cents. Your points are valid. But to take the whole set into consideration, you have to add in one factor: How much enjoyment did you get when you bought the car which now has become a strongly depreciating asset? The market value dictated that you come up with significantly more money than a "normal" transaction. You are an astute business guy, so you weighed the opposing factors: paying a large "pleasure" tax, or passing on something you really wanted--purely for personal enjoyment. You made the decision advisedly, so there really should be no second guessing of it now. It's fair to ask was it worth it, now in hindsight. But I don't think regret should enter into it. You did it. You had fun. Thanks for the memories! Great vid--very though provoking.

[@MiamiMiles]

Thanks for your comment my friend. As always. I agree. It was fun. I paid the markup cuz I wanted it. In hindsight, probably would’ve skipped at that markup. Not because of the money, but because I think for that price I could’ve bought something that I enjoyed a bit more. Either way, you’re right. I had it, loved it and made some awesome memories with it

[@1Gabrieldiaz]

You might as well put miles on it. See what’s the mileage threshold before it drops tremendously in price.

[@unlisted8042]

“I had to pay 75k above MSRP” No, no you didn’t. You CHOSE to pay a markup instead of delay gratification and wait for the market to calm down.

[@sxsw12]

All these markups are due to people with new money and Ferrari customers. Dealerships need to be reprimanded for these markups by Porsche. It is so annoying watching people flip the GT products and/or garage queen them.

[@MiamiMiles]

So true

[@BrianLouderback]

I’m seeing gt4rs adm at $30-40k now. Hopefully sticker soon.

[@MD-xb1qw]

I’ve owned 3 991 911s. 1 C2 and two GTSs. My last GTS ‘19 was only $130k. The new 992 is closer to $200k 🤯

[@kelvinchu6792]

All of this is contingent on someone moving on from the car in 12-15 months. Someone who loves the car, enjoys it for 5+ years to come may not see the same depreciation, esp for a special car like the GT4 RS, which will likely see appreciation. Waiting is not always an option if allocations never come around, and MSRPs continue to increase. If you buy a car that is super hyped with high ADM, and then sell while it’s still in production, then yeah, you’re in for a loss.

[@MiamiMiles]

Comment on point. Thanks for yourninsight

[@kelvinchu6792]

@@MiamiMiles Regardless, thank you for sharing your personal experience, and for producing a really nice video. Love the 997 RS!

[@georgebaloian8272]

These cars didn’t really depreciate they’re at the right prices people just willingly threw money away thinking this wasn’t going to happen! People with g wagons are going through the same thing! It’s the buyers foolishness nothing more!

[@mwar99]

I would consider depreciation off MSRP since there are people who paid MSRP. ADM just goes to the dealer and is no value in the car. I don’t consider that depreciation. That’s the fee your paying to get the car because you couldn’t find an MSRP dealer.

[@MiamiMiles]

This would be true If 98% of people could get one at sticker. Most pay overs or have to lose elsewhere. Therefore, anything over sticker which eventually goes to 0, is depreciation for most people including myself

[@tgracing5532]

My GT3 was $409k delivered and I purchased it at trade in price 4 years ago 360k with 2200kms on it. Free motoring

[@cdres74]

Stupidity to pay over MSRP. I love my GT3 but not a chance in hell that I am ever going to pay over MSRP. Even if some of these cars end up going up in value (the new GT3RS is most likely never going to go down). Anyone that justifies it might enjoy the cars but does not actually enjoy them the correct way. I know a number of guys that justify overpaying but they also have so much money they don't care in the slightest.

[@vtrieu1989]

God damnnnn. 75g over and u r still bought it. More powerful to u that u have money to burn 🔥

[@teddyruxpin3811]

Porsches are nice cars but they are WAY overpriced these days. This is coming from a previous Porsche owner too.

[@keithrichards-io5db]

It sucks taking a loss but it’s kinda part of the car experience Rarely will you make money on a car but the past few years has created an illusion that high end sports cars are “investments”. I bought / sold a few 911 turbos and always lost money - not until recently has that reality changed But even so- I bought a 991.2 gt3 last year and decided that I should have bought the RS (for track and also the looks). I lost after taxes $40k then paid the extra for the RS Kinda took a beat on that but then thought back to all those other cars sold at a loss and- boom- got over it!!

[@MiamiMiles]

Happy you got what you wanted 🤜🏻

[@9-and-3]

On the second hand market anyone can ask as much as they want, but if I step in an official dealer, it doesn't matter if it is Toyota or Porsche, it is mind bending that you are asked to pay over the MSRP. Flippers and FOMOs are perpetuating this evil. In the crypto age in which everything is appreciating based on shared interest alone and nothing else, I won't pay a dime over, new or second, I don't play this stupid game

[@MiamiMiles]

Good strategy

[@MW-uy3np]

let's see where the 4RS shakes out. All I know is it's a thrill. I'm sure the 997.2 is also but this is a new thrill not one that's 10 plus years old.

[@MiamiMiles]

Good point.

[@jmartprjmartpr9944]

That's not depreciation...it's just the market leveling at this time. When they actually go below the real MSRP that would be depreciation. When you pay those ADMs above MSRP you really have to love the car and keep it....that extra money above MSRP pushed you all the way to the front of the line to get one at your stealer...sorry... dealer. So if you decide to sell don't expect to get back all that ADM. Consider that ADM + Cost during your ownership like a ticket to enjoying one of the best cars Porsche had made. I have one and my plan is to keep it as long as I can...depreciation? I really don't care, it's a car so not the best type of investment to begin with (even by Porsche standards)....but....was able to get it at MSRP.

[@michaels3897]

WTF Mickey! I have been liking , commenting and sharing your videos--as always, and my comments have all disappeared from 5 f*&_*ing threads! I wondered why I haven't gotten a reply from you in like forever! WTF is going on?

[@MiamiMiles]

Wish I knew my friend. Anytime I see your comment, I take some time to respond. Hope you’ve been great man. Over here, prioritizing family and work a little more than cars. Still got some awesome content planned tho. Can’t wait to share it with you!

[@michaels3897]

@@MiamiMiles Me either. Loved this vid and posted long comment. When I get a chance, will repost.

[@BananaJDM]

Kinda sucks they sell for 270k/280 Canadian that's 30% less in USD 😐😐😐 *The only way to make ur money back is to keep it for the next 16 years and it will start going back up)

[@MiamiMiles]

Facts

[@redgt3244]

Loved the Biden face with the taxes😂😂. I’m waiting for the market to cool off to start looking at the new RS.

[@MiamiMiles]

Good move

[@noisetin]

6:38 😂

[@dhope6181]

Adm days are almost over ….. allocations everywhere ….

[@jameswillard1]

Not a chance of that happening on GT cars. Porsche themselves have already has canceled orders on lots of customers cars. I’m one of them, my sales associate called me the other day and said Porsche cancelled your order but you will be getting a 2024 at 2025 pricing

[@zDialecticChaos]

love ur vids

[@logwind]

Nearly $300k for a Cayman. Say that to yourself.

[@Buddy981gt4]

Yeah but you were motivated by having the gt4rs for views on your channel

[@MiamiMiles]

No I wasnt. Look at the views… it paid $50

[@Therealtrump544]

Porsches are so overpriced and overrated it's ridiculous. You get a sports car for supercar money. Pay more get whole lot less. Still sheeps line up to buy the next gt car with another letter attached to its name and another 100k markup.

[@jameswillard1]

Over priced maybe? Over rated? …..not so sure they do make a damn good product but they do get people to buy into the BS better than anyone else. The new 911 S/T is a perfect example……it’s the price of TWO 992 GT3’s for very minor changes and not all of them positive 🤦🏻‍♂️

[@JCviggen1]

Can't blame Porsche for making literally the best track cars (try and track a McLaren or Ferrari with the same intensity that a GT product easily stands up to) that then gets bought by people who just want to show off at cars & coffee.

[@4liter]

The market/resale values strongly disagree R8, 570, etc are half of sticker currently. Same generation GT3 is barely under sticker.

[@jameswillard1]

@@4liter while GT3’s do hold their value very well R8’s also hold their value great. 2017 V10 Plus’s are $150-$160k depending on miles, they were only a little over $200k 7-8 years ago when they were new. 2016 McLaren 570’s that MSRP for $200k new are now worth $120-130k, so $70-80k less in 8 years isn’t awful. 991 GT3’s had significantly lower starting MSRP’s back then so that helps at ton when they were only $140k-155k in the first place

[@hbullock]

I’m doubting you paid federal sales tax. lol Shouldn’t that be a pic of DeSantis? Or is that too much cognitive dissonance?

[@MiamiMiles]

Lol… should be DeSantis. My editor loves Uncle JB tho hahaha