Which Will Depreciate Faster? Evora or 997s
Poll: Which Will Depreciate Faster? Evora or 997s
Total Members Polled: 52
Discussion
Quick question as I am looking at overall costs and trying to work out the depreciation element.
I have £30k to spend on a fun daily driver doing about 15k miles per annum. This buys me a 997 c4s with about 40k miles or a Lotus Evora with about £20k miles. The Porsche will be 8 years old and the Lotus about 4 or 5 years old.
Which do we think will drop the most in value over say 4 years and 60k miles. I reckon the 997 as they are nore common and 100k mile 996's are certainly available at under £15k. The Lotus is less common although possibly less robust?
I have £30k to spend on a fun daily driver doing about 15k miles per annum. This buys me a 997 c4s with about 40k miles or a Lotus Evora with about £20k miles. The Porsche will be 8 years old and the Lotus about 4 or 5 years old.
Which do we think will drop the most in value over say 4 years and 60k miles. I reckon the 997 as they are nore common and 100k mile 996's are certainly available at under £15k. The Lotus is less common although possibly less robust?
I insistently looked for an Evora last summer and I was surprised how well even the first examples kept high values here in Italy. I saw some examples in Germany too and the situation is not that different. Obviously the UK market is different with lots of more interestingly prices Evoras aorund (here in Italy the Evora is very rare but the few buyers are die hard Lotus enthusiasts that tend to keep and look after them) but I do believe that over time it will keep value better than a 997, that is a very good 911 but it also sold a lot and it has been on sale for very long time.
About reliability, well maybe a 997 could be more robust but if something goes wrong it can also be more expensive to fix.
About reliability, well maybe a 997 could be more robust but if something goes wrong it can also be more expensive to fix.
Apart from one high mileage example, the lowest I've seen on here are £30K, as they were a year or longer before... Comparatively, early 997s keep on dropping, mass produced cars like that seem to hold up quite well initially but then the bottom falls out as they stop being flavour of the month and the market gets flooded with cars having belonged to folks keen to move on to the latest model.
If (and it's a significant "if" in the case of the Evora) they follow the typical modern Lotus and Porsche depreciation curves, the Evora will lose (proportionally) more in the first three years or so then start to plateau, while the 911 will fall steadily.
As an example of what Lotus cars tend to do; I bought my Elise for 58% of its new price at three years old (not a bad rate of depreciation by any means, but not exceptional either). It's now worth 50% of its new value at 10 years old.
As an example of what Lotus cars tend to do; I bought my Elise for 58% of its new price at three years old (not a bad rate of depreciation by any means, but not exceptional either). It's now worth 50% of its new value at 10 years old.
Edited by kambites on Tuesday 14th January 09:51
Using current information I would say the lotus less than the porsche but does it matter that much?
I appreciate its a factor to consider when buying some cars but you're already buying when the big hits of depreciation for both cars have passed.
If they did differ in 2-3 years time I would guess it would be a matter of a few k between them and that could easily be gained/lossed if you hit an expensive issue on either car.
If you're planning on keeping it for 10 years it could be a different story but then again does it matter so much?
I would be far more interested in what you term the 'robustness' and also what the typical ownership bills would be (for exaple what does it cost to fix something that could go wrong, what are tyre costs, servicing, insurance, etc etc).
And finally most importantly what car (ignoring the depreciation factor) do you actually prefer?
Or is it so 50/50 between them that depreciation is the tipping point?
I appreciate its a factor to consider when buying some cars but you're already buying when the big hits of depreciation for both cars have passed.
If they did differ in 2-3 years time I would guess it would be a matter of a few k between them and that could easily be gained/lossed if you hit an expensive issue on either car.
If you're planning on keeping it for 10 years it could be a different story but then again does it matter so much?
I would be far more interested in what you term the 'robustness' and also what the typical ownership bills would be (for exaple what does it cost to fix something that could go wrong, what are tyre costs, servicing, insurance, etc etc).
And finally most importantly what car (ignoring the depreciation factor) do you actually prefer?
Or is it so 50/50 between them that depreciation is the tipping point?
Rakoosh said:
Using current information I would say the lotus less than the porsche but does it matter that much?
I appreciate its a factor to consider when buying some cars but you're already buying when the big hits of depreciation for both cars have passed.
If they did differ in 2-3 years time I would guess it would be a matter of a few k between them and that could easily be gained/lossed if you hit an expensive issue on either car.
If you're planning on keeping it for 10 years it could be a different story but then again does it matter so much?
I would be far more interested in what you term the 'robustness' and also what the typical ownership bills would be (for exaple what does it cost to fix something that could go wrong, what are tyre costs, servicing, insurance, etc etc).
And finally most importantly what car (ignoring the depreciation factor) do you actually prefer?
Or is it so 50/50 between them that depreciation is the tipping point?
Interesting comments.I appreciate its a factor to consider when buying some cars but you're already buying when the big hits of depreciation for both cars have passed.
If they did differ in 2-3 years time I would guess it would be a matter of a few k between them and that could easily be gained/lossed if you hit an expensive issue on either car.
If you're planning on keeping it for 10 years it could be a different story but then again does it matter so much?
I would be far more interested in what you term the 'robustness' and also what the typical ownership bills would be (for exaple what does it cost to fix something that could go wrong, what are tyre costs, servicing, insurance, etc etc).
And finally most importantly what car (ignoring the depreciation factor) do you actually prefer?
Or is it so 50/50 between them that depreciation is the tipping point?
It is exactly 50/50 between the cars, Lotus drives better and is less common, 911 has the edge on practicality and I am more confident that if it breaks there are more people around to fix it and parts nwill be easier to obtain.
The 911 build quality feels pretty good, the Lotus less so, hence the robustness comment, I will be doing 15k miles pa using the car to get to and from business meetings plus a few european trips.
My spreadsheet
shows me that running costs are pretty similar, eg, 911 has less frequent servicing but more costly tyres. Depreciation is the part of my model that actually makes the biggest difference to 4 years of ownership. I would hope that neither car would have big issues, but a plus with the 911 will be a 2 year Porsche centre warranty as part of the price. I am totally 50/50 having eliminated all of the other options (except perhaps a 996tt, which I think will have minimum depreciation but higher costs)
I went through a similar thought process last time (but ended buying neither!) & I'd say the evora wil cost you less, just beware the price of tyres (as you mentioned it) as they certainly aren't cheap on the lotus!
My major problem was the age of the 911:
The M96/97 series engines are s
te, no two ways about it. If it goes it's not only big money but a hassle, especially if you're away in Europe for example but also if your cars off the road.
Now, you mention the Porsche approved used warranty & very good it is too. But, an opc sourced car (in order to get the warranty) will be anywhere from £5-10k more expensive than the car is actually worth at a trade in & that's a huge amount to pay for a warranty. Especially when you consider it's only really necessary to cover the mistakes they made when designing the bloody thing.
Also, the cut off age for the warranty is 10 years old so if you do run it for any longer you'll be on your own, as will anyone who wants to buy it off you which might not help the depreciation! It's for this reason there are so few 997 gen1 cars at opc I would imagine.
The obvious is to state that should you run one without a warranty you're dealing with a much older car with plenty of cheaply made components that like to fail.
For me, I ended up comparing the evora with gen2 997s that didn't have the engine worries & it just didn't stack up.
As the market has figured out, a lotus evora that still has a factory warranty at £35k is a fantastic purchase
My major problem was the age of the 911:
The M96/97 series engines are s
te, no two ways about it. If it goes it's not only big money but a hassle, especially if you're away in Europe for example but also if your cars off the road.Now, you mention the Porsche approved used warranty & very good it is too. But, an opc sourced car (in order to get the warranty) will be anywhere from £5-10k more expensive than the car is actually worth at a trade in & that's a huge amount to pay for a warranty. Especially when you consider it's only really necessary to cover the mistakes they made when designing the bloody thing.
Also, the cut off age for the warranty is 10 years old so if you do run it for any longer you'll be on your own, as will anyone who wants to buy it off you which might not help the depreciation! It's for this reason there are so few 997 gen1 cars at opc I would imagine.
The obvious is to state that should you run one without a warranty you're dealing with a much older car with plenty of cheaply made components that like to fail.
For me, I ended up comparing the evora with gen2 997s that didn't have the engine worries & it just didn't stack up.
As the market has figured out, a lotus evora that still has a factory warranty at £35k is a fantastic purchase
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