OMG! What's happened to used 997 prices? Be very afraid...
Discussion
uktrailmonster said:
tuffer said:
I knew I was basically throwing away £80K, I am not rich
I'm not surprised 
tuffer said:
uktrailmonster said:
tuffer said:
I knew I was basically throwing away £80K, I am not rich
I'm not surprised Mermaid said:
tuffer said:
uktrailmonster said:
tuffer said:
I knew I was basically throwing away £80K, I am not rich
I'm not surprised 
t anyway 
Scelto said:
oyster said:
That's great for you. But you are in a very small minority who plainly have enough cash to cope with financial shocks. A very small minority even of Porsche owners.
I can't imagine why anybody would classify depreciation as a "financial shock"!If you bought a £50k car expecting to get £25k back after 4 years of ownership, only to find it was worth £18k, that may come as a shock.
Of course the fact that a car, particularly a new, mass-produced car depreciates at all should not be a shock.
oyster said:
Scelto said:
oyster said:
That's great for you. But you are in a very small minority who plainly have enough cash to cope with financial shocks. A very small minority even of Porsche owners.
I can't imagine why anybody would classify depreciation as a "financial shock"!If you bought a £50k car expecting to get £25k back after 4 years of ownership, only to find it was worth £18k, that may come as a shock.
Of course the fact that a car, particularly a new, mass-produced car depreciates at all should not be a shock.
If you bought a car expecting it to always remain at a certain value, then you have deluded yourself. You should just buy it and enjoy it and thank your lucky stars, you've been fortunate enough to have had one! This is the main reason why we should envy the old - nobody can take away what they have had and experienced, the young, however have it all to lose!
If you can afford to 'throw away' £80k, I say fair play to you and well done on your success.
Unfortunately, most of us aren't rich enough to be able to justify that sort of expenditure and have to spend a little more time being a little more savvy to get into our dreams.
Apologies if that bores you.
MTR
Unfortunately, most of us aren't rich enough to be able to justify that sort of expenditure and have to spend a little more time being a little more savvy to get into our dreams.
Apologies if that bores you.
MTR
mollytherocker said:
If you can afford to 'throw away' £80k, I say fair play to you and well done on your success.
Unfortunately, most of us aren't rich enough to be able to justify that sort of expenditure and have to spend a little more time being a little more savvy to get into our dreams.
Apologies if that bores you.
MTR
It's unlikely to ever have a value of "0" but yes depending on how long you intend to keep it, you should factor in a significant loss, especially if purchasing from new! Then if the price is higher when the time comes to move it on, well that's a result!Unfortunately, most of us aren't rich enough to be able to justify that sort of expenditure and have to spend a little more time being a little more savvy to get into our dreams.
Apologies if that bores you.
MTR
It's funny, people spend £xxK on a car and get all wrapped up in how much it may or may not lose and yet people spend £xxxK on a house and expect it to appreciate in value. I am pretty sure there are plenty of people out there who have paid well over the odds for some Barrett homes nondescript PoS estate house. In the big scheme of things the house probably costs them far more in the long term. Yes it is just a car but if you are worried about the risk then go and buy a snotter.
Edited by tuffer on Tuesday 24th January 20:57
uktrailmonster said:
tuffer said:
people spend £xxxK on a house and expect it to appreciate in value.
Well in the long term houses usually do appreciate in value, so the expectation is more realistic. Brand new cars on the other hand.... tuffer said:
Yep, you buy them for £200K, you eventually pay £400K over 25 years and then its worth £300K. Over simplified just to get my point across.
Very well explained, actually. Most people can't see the wood from the trees when it comes to "pwopewdee". As for depreciating 997s, well, sure as hell when they dip below 20k for a good one (it might take a while and I don't have a crystal ball), I'll make my move and will not for a second worry about the next leg of depreciation. It would spoil the fun for sure.
stuckmojo said:
tuffer said:
Yep, you buy them for £200K, you eventually pay £400K over 25 years and then its worth £300K. Over simplified just to get my point across.
Very well explained, actually. Most people can't see the wood from the trees when it comes to "pwopewdee". As for depreciating 997s, well, sure as hell when they dip below 20k for a good one (it might take a while and I don't have a crystal ball), I'll make my move and will not for a second worry about the next leg of depreciation. It would spoil the fun for sure.
You dont have to drive a porsche, or anything for that matter.
markcoznottz said:
dazco said:
kbf1981 said:
But when we're talking about luxury cars, the issue of money / ambition related to earnings will come up? It's fine if that's not what motivates you, plenty of people I know are far more into having a happy family life and would prefer to work 35hrs a week on £20k than 70hrs a week on £100k.
However, part of you wants a Porsche / Ferrari / other posh metal because it's exclusive and relatively hard to obtain. It's the stuff we had on our bedroom walls when we were teenagers. To be honest....you'll get a much purer driving experience from an old Elise or Caterham.....both of which can be had for under £10k with nearly zero depreciation. People don't want them as much however as they're not as aspirational. They're not status symbols that'll make the neighbours jealous.
As much as it's an ugly thing to say, a large part of the reason people buy exclusive cars is because they're perceived to be expensive and exclusive. That's why I always get annoyed with people hoping for depreciation - aside from being mean spirited, it's also counter productive. The reason these cars are desirable is in part because they're expensive. The cheaper they get the less people aspire to them, imo.
Talk for yourself mate, but I think you are sadly wrong if you think most people want luxury cars in order to show off how successful they have been, which is effectively what you are saying.However, part of you wants a Porsche / Ferrari / other posh metal because it's exclusive and relatively hard to obtain. It's the stuff we had on our bedroom walls when we were teenagers. To be honest....you'll get a much purer driving experience from an old Elise or Caterham.....both of which can be had for under £10k with nearly zero depreciation. People don't want them as much however as they're not as aspirational. They're not status symbols that'll make the neighbours jealous.
As much as it's an ugly thing to say, a large part of the reason people buy exclusive cars is because they're perceived to be expensive and exclusive. That's why I always get annoyed with people hoping for depreciation - aside from being mean spirited, it's also counter productive. The reason these cars are desirable is in part because they're expensive. The cheaper they get the less people aspire to them, imo.
I am at the polar opposite side of your thinking, I wish Porsches, Ferraris, Astons et al were affordable enough for every last person to be able to enjoy them.
You seem to be very selfish and want the experience of owning a nice car just for you, and others who can afford an expensive car. I am the reverse, I would like nice cars to be so affordable that most people could have one.
It is never going to happen, but it would be nice.
Mermaid said:
tuffer said:
uktrailmonster said:
tuffer said:
I knew I was basically throwing away £80K, I am not rich
I'm not surprised 
All interesting comments - but surely cars are like anything else - you budget for what you can afford (and want).
For the last few years, I've put a lump of cash aside every year (to fund my addiction), buying good quality and well specified 2nd hand toys (the last 2 being Porsches), with the idea of changing them every 18-24 months. That way I feel less exposed to depreciation, because if you're current car is depreciating faster than you expected, you can bet your bottom dollar that the more expensive "upgrade" you're going to buy next will be doing so too (perhaps even faster). To my mind depreciation is something I factor into my calculations, but it does seem that those who buy "brand new" are the most exposed to market / environmental changes over time.
For the last few years, I've put a lump of cash aside every year (to fund my addiction), buying good quality and well specified 2nd hand toys (the last 2 being Porsches), with the idea of changing them every 18-24 months. That way I feel less exposed to depreciation, because if you're current car is depreciating faster than you expected, you can bet your bottom dollar that the more expensive "upgrade" you're going to buy next will be doing so too (perhaps even faster). To my mind depreciation is something I factor into my calculations, but it does seem that those who buy "brand new" are the most exposed to market / environmental changes over time.
MadMark911 said:
All interesting comments - but surely cars are like anything else - you budget for what you can afford (and want).
I budget for what it just out of reach. You always want the car that you *just* can't afford a thousand times more than the one that is 5 grand cheaper and that you can afford.The whole driving force of desiring materialistic things comes from the fact that they are out of reach (or just out of reach). When you achieve them, you then want the next thing up the ladder that you can't afford. Its a never ending toxic spiral. If you were Carlos Slim you wouldn't be looking at PH classifieds every night, you'd be talking to the Russian Governement and trying to persaude them to take you to the moon.
jackal said:
MadMark911 said:
All interesting comments - but surely cars are like anything else - you budget for what you can afford (and want).
I budget for what it just out of reach. You always want the car that you *just* can't afford a thousand times more than the one that is 5 grand cheaper and that you can afford.The whole driving force of desiring materialistic things comes from the fact that they are out of reach (or just out of reach). When you achieve them, you then want the next thing up the ladder that you can't afford. Its a never ending toxic spiral. If you were Carlos Slim you wouldn't be looking at PH classifieds every night, you'd be talking to the Russian Governement and trying to persaude them to take you to the moon.
I am very happy with my old 993 and if I keep it forever, then great. It doesnt stop me wanting a 997GT3RS, but I know that the pleasure increment wont actually be as much as I might think.
In fact, it could possibly be less pleasurable. I doubt it though!!!
MTR
jackal said:
I budget for what it just out of reach. You always want the car that you *just* can't afford a thousand times more than the one that is 5 grand cheaper and that you can afford.
The whole driving force of desiring materialistic things comes from the fact that they are out of reach (or just out of reach). When you achieve them, you then want the next thing up the ladder that you can't afford. Its a never ending toxic spiral. If you were Carlos Slim you wouldn't be looking at PH classifieds every night, you'd be talking to the Russian Governement and trying to persaude them to take you to the moon.
Ahh - I'm obviously becoming too prudent in my old age, because although I could buy a new 991, I just can't justify it to myself. Therefore I have a 4 year old 997 (that I think is 80% of the 991 for 40% of the cost). I already know what I want next and it'll probably be a late 2011 GTS (or similar) in late 2013 ..... The whole driving force of desiring materialistic things comes from the fact that they are out of reach (or just out of reach). When you achieve them, you then want the next thing up the ladder that you can't afford. Its a never ending toxic spiral. If you were Carlos Slim you wouldn't be looking at PH classifieds every night, you'd be talking to the Russian Governement and trying to persaude them to take you to the moon.
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