OMG! What's happened to used 997 prices? Be very afraid...

[Carl_Docklands]

They have a long way to go before we hit 2009 levels, I recall a fully loaded, nearly new, Gen2 C2 at Leeds OPC for £53k (£20k below) which did not sell and was offloaded to a dealer for them to advertise at £57k.

[smj996c]

ROK said:

i'm amazed at people who shed tears about auto depreciation. it's a fact of life. you know it's there. it's going to happen. there should be no surprise in it.

you also benefit from it as you are also negatively impacted by it. move on already. the car is an expense.

this ^^^^ if you are worried about depreciation don't buy a car!

[SFO]

taaffy said:

mollytherocker said:

I

Unless they dont sell in high numbers?

MTR

And that ain't going to happen , the 991 is more than likely going to be a bigger seller than the 997....

991 sales in the UK will be lower than 997 sales .. much less money and easy credit available now

[Crimp a Length!]

Supply and demand doesn't help matters, & predicts future values
After all said and done even a 911 is a mass produced motor these days.
If you don't want to lose your shirt then buy a rare variant or an old classic. Easy

[cpufreak]

SFO said:

991 sales in the UK will be lower than 997 sales .. much less money and easy credit available now

I don't agree.

I think the 991 will outsell the 997 considerably, as the reduction in noise etc, and increase in cabin space, will make it more suitable for those having one as their sole car.

[mollytherocker]

ROK said:

i'm amazed at people who shed tears about auto depreciation. it's a fact of life. you know it's there. it's going to happen. there should be no surprise in it.

you also benefit from it as you are also negatively impacted by it. move on already. the car is an expense.

Right, so just roll over, take it up the jacksie as there is nothing you can do about it eh?

Thanks for clearing that up.

MTR

[cayman-black]

mollytherocker said:

I reckon that the 991 will follow suit too!

Unless they dont sell in high numbers?

MTR

I think this will be worse. I can remember the time when a new 911 would be a sensible buy, loosing very litle. But there are just to many of these around. Such a shame.
Plus i was on the Land rover forum the other day and some chaps asks how are the 04/05 Range Rovers they dont have any blown engine probs like Porsche do they. For fk sake these things dont help.

[highway]

I looked at buying a Boxster S new in 2002 from an OPC. Prices of 2 year old cars in the OPC network were routinely advertised at barely a few K less than list. Eventually I bought a UK spec C16 car in RHD from a european dealer (back when you could save a few quid doing that) I kept it two years and did 12k. I lost about £3k over what I paid two years later AND sold the car to an OPC buyer.

Good times.

Inspired buy this, I was top of the waiting list for a 987S in 2005. I managed a £1k saving off list, which at the time (early 05) was quite an achivement. I did 4k in six months. I could see the values of 987's starting to drop away fast-quite a contrast from the 986. I bailed and lost £5k (not including my £1k saving on list) to another dealer.

Over the last 15 years I have been lucky enough to buy quite a few new cars, use and enjoy them for a period then move them on with a minimal loss. Those days are gone.

Car dealers (not specialist Porsche either) seem very aware of "potential" engine issues with POrsches over the past 10 years. This coupled with supply that isn't restricted like it used to be has had a massive impact on residual values.

If any of you have any 10 year old + car mags, check the classifieds in the back for what cars like 996's, Elises and M Cars were advertised for..mega money compared with asking prices for similar aged used models now.

The 991 has to be destined to go the same way unless Porsche start restricting supply like they used to.

[drmark]

mollytherocker said:

Right, so just roll over, take it up the jacksie as there is nothing you can do about it eh?

Thanks for clearing that up.

MTR

Err ...yes, basically. Unless you know something we don't.

[mollytherocker]

drmark said:

mollytherocker said:

Right, so just roll over, take it up the jacksie as there is nothing you can do about it eh?

Thanks for clearing that up.

MTR

Err ...yes, basically. Unless you know something we don't.

Are you telling me that you dont know how to limit or protect yourself from the effects of depreciation?

How odd.

MTR

[Try5t]

SFO said:

991 sales in the UK will be lower than 997 sales .. much less money and easy credit available now

Agreed .. 997 was sold in large numbers on the back of a credit expansion - times are hard out there these days for everyone and people that may have been interested two or three years ago now won't be biting or won't be getting the finance.

Actually, will be interesting to see what kind of finance packages Porsche come up with for the 991 as it could say a lot about the market.

But I agree with the other poster that the market is one its ass .. even 458's and 430's taking a tumble now and they seemed to be good prospects for a while ..

[kbf1981]

cpufreak said:

SFO said:

991 sales in the UK will be lower than 997 sales .. much less money and easy credit available now

I don't agree.

I think the 991 will outsell the 997 considerably, as the reduction in noise etc, and increase in cabin space, will make it more suitable for those having one as their sole car.

I use my 997 every day. If you're a single bloke....a 911 is practical Much better than R8's, V8V's etc...all of which I looked at before mine and dismissed.

[kbf1981]

Try5t said:

But I agree with the other poster that the market is one its ass .. even 458's and 430's taking a tumble now and they seemed to be good prospects for a while ..

458 does look like it's looking weaker. Still around list on the classifieds, but a fair few out there - 32 on PH.

The next above list car will be the Spider and the Gallardo replacement (LP600).

[Diesel130]

anonymous said:

[redacted]

Really?

[Chipper]

I've had four dealers chasing me for a deposit on the new 991. I always remember speaking to a salesman about what the GFV would be on one as my specced car was coming out at just under £95000. He was shocked that I was considering such a massively specced vehicle only for me to tell him that is was just a nicely specced PDK c2s. He hadn't even seen the option list or prices on the new 991 and was slightly set back when he looked them up.

Follow on to another dealer that chased for a deposit and after a brief conversation that i wanted to wait for a used vehicle he informed me that a lot of people were pulling out. This was a few months ago but to be honest the economic situation now is a lot worse so it would be interesting to know if a early delivery is still available ?

Does anyone have any GFV for the 991 yet?

[nickfrog]

ROK said:

i'm amazed at people who shed tears about auto depreciation. it's a fact of life. you know it's there. it's going to happen. there should be no surprise in it.

you also benefit from it as you are also negatively impacted by it. move on already. the car is an expense.

Sorry I totally disagree. The subject of the topic is not depreciation per se but how values (of all cars and particularly Porsches) have fallen off a cliff over the past 2/3 months, which is a fact that can't just be explained by the time of year but by the accumulation of other factors.

[Robbo66]

kbf1981 said:

458 does look like it's looking weaker. Still around list on the classifieds, but a fair few out there - 32 on PH.

The next above list car will be the Spider and the Gallardo replacement (LP600).

Agree re 458, being chased with promise of car for Summer 2012. It's all looking very poor for residuals, every marque, ever model. Please don't suggest the GT3 RS 4 will buck the trend....it won't. Personally, wouldn't touch a new 991 or a new anything for the immediate future. Some real value top end 997's and 430's out there though, and with a glut of 458's too, the second hand Market looks the way to go.

[kbf1981]

Robbo66 said:

kbf1981 said:

458 does look like it's looking weaker. Still around list on the classifieds, but a fair few out there - 32 on PH.

The next above list car will be the Spider and the Gallardo replacement (LP600).

Agree re 458, being chased with promise of car for Summer 2012. It's all looking very poor for residuals, every marque, ever model. Please don't suggest the GT3 RS 4 will buck the trend....it won't. Personally, wouldn't touch a new 991 or a new anything for the immediate future. Some real value top end 997's and 430's out there though, and with a glut of 458's too, the second hand Market looks the way to go.

I was looking at putting a deposit on a 458....even got my spec together before....I'm in 2 minds though. Nice 2010 LP560's are not bad money, a maaaasssivvvee saving over a new 458....Is a 458 worth 40% more than an LP?

You're right re: F430's. There was a nice white one on the Ferrari site not so long ago - 2008 White, Black Wheels, F1 Box....£86k.

Going to wait till closer to Christmas to workout what to do. Personally I think if you act anytime in the next 2 months you'll get a bargain. The economy sucks but will come back. Look at company profits. Companies are earning good money now, they're just not hiring because there's some uncertainty. Look at the US and the numbers are looking slightly more promising, and it's not like China's going to pull it's money back as....they need the US to buy their stuff. The EU is f*cked, but come on, who didn't see a problem with Italy and Greece coming? Those economies have sucked for a long time, and the French just aren't competitive.

[mollytherocker]

Chipper said:

Does anyone have any GFV for the 991 yet?

It will be interesting to see where they pitch this.

MTR

[Dazza N]

mazza911 said:

Think this is a reflection of the overall second hand car Market. People are not buying anything full stop. Retail is struggling, and unfortunately there is a limited Market for Hugh performance cars. If you have to sell due to personal circumstances then people become a bit desperate, drop prices and it has a snow ball effect.

That said if you have a Porsche and don't need to sell it just go out and enjoy it and don't worry about the depreciation until you do need to sell!!

The retail market is very slow which is great for our market which is leasing. All the surplus stock is being reduced ans passed on to us to sell Depreciation is not a problem if you lease If it goes up in value buy it if it depreciates lease it