Florida-based Porsche Dealership Makes GOOD on BAD Employee Who Pocketed More Than $2.5 MILLION

It's called avoiding being sued.

I hope to high heaven that they decide to have some checks and balances and get rid of the free-wheeling bullspit that caused this in the first place.

On ANY transaction--especially large ones--it is essential to have checks and double-checks to protect the customer and in this case the dealer too.

This is a perfect example of why Tesla's direct-purchase business model makes perfect sense. Cut out the car sales middle man who will ALWAYS gouge you for a higher price, or simply rip you off. Been there, done that. Direct sales + direct sense. You pay the price you know up front. No shinanigans.

Talk about utterly illogical reasoning! #fallacy #cashrape #unicorns

So - in the case of Tesla - the COMPANY ALWAYS gouges you for the highest price - and completely controls what they think your trade in would be worth so that you cannot negotiate a better price from another dealer.

Tesla's business model will ONLY work when they have NO real competition. When other companies come into the market with competitive product - with availability from Multiple dealers - you can bet those dealers will indeed negotiate for your business. ANd if TESLA stays with its model - it can only hope that newer product is also not cheaper (Which is likely due to advancements).

Indeed Saturn tried to the one price routine and dealers had to find creative ways to negotiate it because no one wanted a Saturn. The same will be true of Tesla. A car like the Porsche Taycan will be too delicious to pass up.

This is NOT what it seems

Actually - the salesman stole the money from the dealership - not from the buyers - they still had VALID receipts for their deposits. In this case- it is likely Insurance will cover the loss.

This is why reputable dealers do not have the sales people handing money.

How to perpetuate a rare auto deposit fraud:

(1) Get a sales job at a prestigous dealer like "Champion Porsche".

(2) Work there for a while.

(3) Open up your own business banking account with a similar name how 'bout "Champion Autosport" company? Yup that will work!

(4) Since you are kinda dumb to begin with, why not ensnare your whole family? Sure! Great idea - I'll get my wife involved in the scam.

(5) Identify a rare model GT2 or GT3? Yup!

(6) Market the heck out of it to out of the area rich people and give them wire instructions to your deceptive personal account of "Champion Motorsports" even though you work for "Champion Porsche". Nope, they won't find out. They are too busy doing 'rich people' stuff.

(7) You are so excited about your scheme that you don't figure out what to tell them when the GT2 / GT3 actual deliveries start and the 'rich people' ask where there car is.

(8) You try telling them that GT2/GT3's are just like Tesla Model 3's and although people are getting deliveries..."Porsche is just not manufacturing your exact config yet, so you'll have to wait" ...but they call BS and start sending you legal letters. Uh oh!

(9) Then the FBI shows up!

There are actually services that can be used for automotive transactions where the car is verified along with the receiving account so the buyer knows it's real and the seller knows that the buyer has been verified and has the money to conclude the transaction.

Whenever I have sold a vehicle out of state on a private sale, I have been open to the individual coming to see the car--in addition to numerous photographs--or for a service to be used. If a service is used, I tack a fee on for the cost of the service.

Whenever I have purchased a car in the UK, I have flown there to actually look at it.

If it's a dealer deposit and we're talking a business sale, we update the contracts periodically. If we know we have 10 Mustang diesels coming, we typically write the contract for order of arrival i.e. you have first refusal. if you refuse, we return the deposit and you go off the list and someone moves up. if you accept, we rewrite the contract to include a specific vin number as soon as we know it.

If we have configurable slots, it is once again right to refuse. Your turn to configure is up. Say "not yet" and we return your deposit, take you off the list, and move someone up. Configure it and we rewrite to make the vehicle more specific.

Having rubbed elbows with rich people, I find it surprising how many do not think clearly and how gullible they are.

"Having rubbed elbows with rich people, I find it surprising how many do not think clearly and how gullible they are."

MrE30 = IKR?

@mre30 I've brought some TVRs in solely as track cars and bringing in non-compliant cars is actually pretty easy if they are for a collection or are track cars. I've had people tell me my price for a TVR is too high and then buy one sight unseen in the UK, spend a fortune to get it here, another fortune to transport it across the USA, and then discover the car is a mess. I've had some turn their noses up at my asking price for a Jensen Interceptor only to turn around and buy a mess sight unseen in the UK and ship it over. In two cases they were so exasperated that I offered them pennies on the dollar, bought the cars, flipped them, and made a profit. I'm about to see who's interested in an unofficial TVR Sagaris that was build after bankruptcy from excess parts. There are two Sagaris "counterfeiters" that are pricey but they are vetted.

There are at least two kinds of rich people in the world - those that were rich from birth - and those that were not and made their money themselves. Someone who is brought up that money is something they have value it less - while people who fought to get their fortunes tend to be more careful as to who is scamming them.

The problem here is that these cars were sold with the backing of a reputable dealer in the picture. And if you had long term dealings with a that dealer - you might be less likely to bring your guard up.

No, Dimwitted Tom, the problem here is that the people did not use common sense. As usual you make excuses for people's idiocy rather than calling a spade a spade. Calling these people victims isn't accurate because to a great extent their greed and hubris did it to them.