a £55k 997 Turbo value in 2 years
Discussion
Looking for a new daily to do 10k pa in. Maybe a track day and odd European trip included. CSL in garage and an old Passat for the really boring stuff.
Would like to buy a Porsche 997 Turbo for a main dealer with 2 year warranty. Few around the 55k mark.
So my question is:
If I kept for 2 years, paid 55k for a 30-40k car, what do you honestly think it will be worth in 2 years?
Basically if depreciation is less than something newish I would be tempted. If not maybe the costs will be too much. I appreciate depreciation is a gamble, hence why I am looking for peoples thoughts.
Cheers
Matt
Would like to buy a Porsche 997 Turbo for a main dealer with 2 year warranty. Few around the 55k mark.
So my question is:
If I kept for 2 years, paid 55k for a 30-40k car, what do you honestly think it will be worth in 2 years?
Basically if depreciation is less than something newish I would be tempted. If not maybe the costs will be too much. I appreciate depreciation is a gamble, hence why I am looking for peoples thoughts.
Cheers
Matt
If you are happy to drop £5k a year, then you'll probably be fine. OPC Gen 1 Turbos are a bit thin on the ground as they concentrate on newer Gen 2s. Buying from an OPC and trading in later will see the biggest delta.
The Tiptronic is popular on the Turbo, so don't worry about gearbox choice.
The Tiptronic is popular on the Turbo, so don't worry about gearbox choice.
If you're buying a 997.1 turbo get a manual coupe. As has been said before the auto would age quicker as it's old technology (non-PDK).
I wouldn't buy OPC as that's a premium you'll lose, although the warranty could offset running costs. But the turbo is robust if bought wisely.
I'd be included to buy from one of the well known Porsche specialists. You may need to take your time but be prepared to move fast as manual 997 (and 996) turbo tend to sell quickly.
But they are sought after and therefore hold their value and even at £50k there isn't much to touch them.
I wouldn't buy OPC as that's a premium you'll lose, although the warranty could offset running costs. But the turbo is robust if bought wisely.
I'd be included to buy from one of the well known Porsche specialists. You may need to take your time but be prepared to move fast as manual 997 (and 996) turbo tend to sell quickly.
But they are sought after and therefore hold their value and even at £50k there isn't much to touch them.
matt21 said:
Thanks! I mean depreciate less than a lesser car. I'm used to £5-6k per year depreciation. I couldn't justify this if it sheds £20k in 2 years
If depreciation is you main factor then get a manual mezger coupe.There is a reasonable chance that it wont depreciate at all. I certainly cant imagine a 20k loss.
I can certainly imagine a £20k loss in 2 years. Lets be honest most OPCs would probably only be offering £45k for the car they will be retailing today at £55k. Add on another 20000miles and 2 years older and it could easy be a £20k loss. But then again you could be lucky and find a private buyer with £45k burning a hole in his pocket.....but I doubt it!
As others have pointed out, prices are definitely on the rise for good 997 Turbos (don't discount a 996, arguably an even more solid proposition right now) so as long as you don't put intergalactic mileage on it, i can't see you getting less than what you pay for it after 2 years. Just don't buy from or trade in to an OPC!! :-)
Edited by Fl0pp3r on Saturday 21st November 22:59
stichill99 said:
I can certainly imagine a £20k loss in 2 years. Lets be honest most OPCs would probably only be offering £45k for the car they will be retailing today at £55k. Add on another 20000miles and 2 years older and it could easy be a £20k loss. But then again you could be lucky and find a private buyer with £45k burning a hole in his pocket.....but I doubt it!
Yes, it is important to remember that dealer spreads are pretty chunky.I do think it is worth it though, much better experience and peace of mind, but it does cost!
Thanks everyone.
I certainly don't have loads of money, and feel a bit like I am punching above my weight with this. However, I am "happy" to run a car that loses about £5k per year. If that gets me into a Porsche 911 Turbo then I accept the higher running costs.
I take the point on OPC. Maybe its a £5k premium, but will give added peace of mind and hoping the warranty is pretty comprehensive.
I suppose if I do take a bigger hit after 2 years I could just keep it longer as I am sure by that point values will stablise. Worst case I keep it for 10 years, at which point it will owe me nothing!
In reality the car will probably do 8k per year, so if I buy one on the low side of average, and sell on the higher side I am hoping it won't be stupidly impacted. If I can buy around 40,000 miles and sell before 60,000 that should still be sensible. I could always lock it in a garage for a year!
The lease car goes back in March, so the serious search will begin then.
I certainly don't have loads of money, and feel a bit like I am punching above my weight with this. However, I am "happy" to run a car that loses about £5k per year. If that gets me into a Porsche 911 Turbo then I accept the higher running costs.
I take the point on OPC. Maybe its a £5k premium, but will give added peace of mind and hoping the warranty is pretty comprehensive.
I suppose if I do take a bigger hit after 2 years I could just keep it longer as I am sure by that point values will stablise. Worst case I keep it for 10 years, at which point it will owe me nothing!
In reality the car will probably do 8k per year, so if I buy one on the low side of average, and sell on the higher side I am hoping it won't be stupidly impacted. If I can buy around 40,000 miles and sell before 60,000 that should still be sensible. I could always lock it in a garage for a year!
The lease car goes back in March, so the serious search will begin then.
997.1 (mezger) manual.
Full history and from a specialist with warranty.
^all the above has been said already.
However I will say that if you're gong to do 8k a year, then you'll need to buy lower mileage - on 996 turbos and C4S there's a widening gap between low miles and high miles, so plan to be on 60k miles when you sell, in order to protect resale. Sellable colour / interior combination too.
Full history and from a specialist with warranty.
^all the above has been said already.
However I will say that if you're gong to do 8k a year, then you'll need to buy lower mileage - on 996 turbos and C4S there's a widening gap between low miles and high miles, so plan to be on 60k miles when you sell, in order to protect resale. Sellable colour / interior combination too.
Yesterday my wife picked one up and I have to say I'm very, very impressed with it. All in it was slightly over £55k (bought in US so conversions apply) but it's such a complete car. I'm not a massive Porsche fan but don't have a bad word to say. As for residuals I don't see it being a problems - however - it will be interesting to see what the annual cost really is.
if your buying from a dealer and selling back to a dealer then your already £10k worst off due to the spread, so you need to factor in the additional age and mileage after a couple of years... i think budgeting £5-7k a year would be about right, which doesn't buy much on a new car lease IMO
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