Current market
Discussion
Sukh13 said:
Get ready for the "You are all just jealous I have a Porsche and you are all sitting on the sidelines rebuttal..."
Sorry I appeared to have rattled some people. My post isn’t aimed at the thread title on market conditions, it’s aimed at the people posting about waiting based on speculations of so called “forum” experts and consistent posting trying to drive down prices when clearly they’re desperately waiting for a bargain and life passing them by. It’s like not going on holiday abroad this year because the pound is weak, but yeah hopefully it’ll be a little stronger next year …Night-hawk said:
Well the wbac on my 981 has tanked quite dramatically in the last couple of weeks. I’d say the bubble is finally bursting so should see some bargains over the winter. That is based on the evidence of one however!
Can you give us some actual numbers?Yes the boxa lads have been commenting on this also. Not sure if you're on there? Some of the numbers posted there look like a 20% drop to Me.
I know we believe that wbac shouldn't set prices but they do to some extent. However when wbac were stating that prices were rising people believed them and now wbac are reducing them people will not believe them.
Actual for sale or advertised prices will probably be slower to react. Dealers offering px numbers definitely will have changed quickly. This will force most none believers to hang on and wait for prices to rise again, not likely in my view, or sell by some other means which would be privately. We may start to see private sales or advertised for sale increase.
I saw a car sell last week or recently. Now it has reappeared. The seller says buyer couldn't source funds. That could mean loan rates were no longer favourable or shifting his current car became a problem as prices dropped. This will obviously be the same problem or problems for anyone else looking to trade up and have knock on effects.
I know Autotrader have a lot of clever data they use to analyse or from analysing the car market. I don't think that's made available to Joe Public. If dealers pay they can get access to it. It advises them how to price their cars but again some dealers will only choose to believe this when it recommends a higher price and not when it suggests lowering prices.
Before the overs madness and over heated used market Porsche convertibles held similar value all year round with a slight drop over winter months but not 20% !
The market is correcting its self , noticed similar drops in 991.2 coupes over last few weeks.
The market is correcting its self , noticed similar drops in 991.2 coupes over last few weeks.
Edited by GT4P on Sunday 1st October 10:17
Bottom line supply and demand.
Far too many porsches built in good times, production continually ramped up and now PCP finance is too high not enough cash buyers.
Porsche seem to be the most effected and TBH needed the biggest correction after the silly prices cars were fetching as Porsche stoked up FOMO
Far too many porsches built in good times, production continually ramped up and now PCP finance is too high not enough cash buyers.
Porsche seem to be the most effected and TBH needed the biggest correction after the silly prices cars were fetching as Porsche stoked up FOMO
When dealers stop buying cars at any price because they don't know how far the knife will fall ... and they are sitting on stock that they wouldn't want to drop to prices comparable to a reasonable margin on their new purchase, it will be left to people with cash to set the new market level.
How many of them do you know when they also are concerned not to lose money ? Those people already have cars to drive ...
I would suggest that the real market level for a three year old Porsche with good history and 20,000 miles is 50-60% of their new purchase price for run of the mill car and 65-75% for a limited supply GT car ... less the effect of the over-supply of the GT cars, whatever that may be.
It has been that way for a long time ... minus the madness of the last years since the 981 GT4 was launched at £65k ? That was value.
My 2p ...
How many of them do you know when they also are concerned not to lose money ? Those people already have cars to drive ...
I would suggest that the real market level for a three year old Porsche with good history and 20,000 miles is 50-60% of their new purchase price for run of the mill car and 65-75% for a limited supply GT car ... less the effect of the over-supply of the GT cars, whatever that may be.
It has been that way for a long time ... minus the madness of the last years since the 981 GT4 was launched at £65k ? That was value.
My 2p ...
IbanezDan said:
Sukh13 said:
Get ready for the "You are all just jealous I have a Porsche and you are all sitting on the sidelines rebuttal..."
Sorry I appeared to have rattled some people. My post isn’t aimed at the thread title on market conditions, it’s aimed at the people posting about waiting based on speculations of so called “forum” experts and consistent posting trying to drive down prices when clearly they’re desperately waiting for a bargain and life passing them by. It’s like not going on holiday abroad this year because the pound is weak, but yeah hopefully it’ll be a little stronger next year …GT4P said:
Oh dear people on here were saying the same 9 months ago that the market will recover in the summer lol, this time next year it will be even worse!
The market is not getting better any time soon!
Eerily quiet from one incessant poster on the subject who couldn't be more wrong! Coincidentally he has dumped his cars now the tide has turned.The market is not getting better any time soon!
IbanezDan said:
Sorry I appeared to have rattled some people. My post isn’t aimed at the thread title on market conditions, it’s aimed at the people posting about waiting based on speculations of so called “forum” experts and consistent posting trying to drive down prices when clearly they’re desperately waiting for a bargain and life passing them by. It’s like not going on holiday abroad this year because the pound is weak, but yeah hopefully it’ll be a little stronger next year …
As you confess yourself, your post was not related to the thread topic and now are setting up straw man arguments for some reason.Perhaps you would prefer to post in a thread about driving or enjoying your Porsche instead of trying to derail the discussion of market conditions...
I expect you won't heed this advice and will come back with another post taking the thread off topic....
993rsr said:
GT4P said:
Oh dear people on here were saying the same 9 months ago that the market will recover in the summer lol, this time next year it will be even worse!
The market is not getting better any time soon!
Eerily quiet from one incessant poster on the subject who couldn't be more wrong! Coincidentally he has dumped his cars now the tide has turned.The market is not getting better any time soon!
He said he had an allocation for a 992 gt3, my bet is he won’t be going ahead with that purchase, even if he can buy at list.
Sukh13 said:
IbanezDan said:
Sorry I appeared to have rattled some people. My post isn’t aimed at the thread title on market conditions, it’s aimed at the people posting about waiting based on speculations of so called “forum” experts and consistent posting trying to drive down prices when clearly they’re desperately waiting for a bargain and life passing them by. It’s like not going on holiday abroad this year because the pound is weak, but yeah hopefully it’ll be a little stronger next year …
As you confess yourself, your post was not related to the thread topic and now are setting up straw man arguments for some reason.Perhaps you would prefer to post in a thread about driving or enjoying your Porsche instead of trying to derail the discussion of market conditions...
I expect you won't heed this advice and will come back with another post taking the thread off topic....
Agreed, but this discussion is about the market now.
If people have nothing constructive to add to that, especially if they want to look down on those discussing the market then they are best of contributing to a different thread.
I appreciate you enjoy your Porsches like they should be, but that doesn't make the discussion of the current market null and void because you think everyone should just go out and buy today...
If people have nothing constructive to add to that, especially if they want to look down on those discussing the market then they are best of contributing to a different thread.
I appreciate you enjoy your Porsches like they should be, but that doesn't make the discussion of the current market null and void because you think everyone should just go out and buy today...
Sukh13 said:
Agreed, but this discussion is about the market now.
If people have nothing constructive to add to that, especially if they want to look down on those discussing the market then they are best of contributing to a different thread.
I appreciate you enjoy your Porsches like they should be, but that doesn't make the discussion of the current market null and void because you think everyone should just go out and buy today...
I completely agree, and wasn't suggesting that. I don't think anyone is looking down on anyone else, merely saying that a degree of balance between pleasure and cost should be metered out. I feel sure those who have been waiting will be bagging a bargain in the coming months.If people have nothing constructive to add to that, especially if they want to look down on those discussing the market then they are best of contributing to a different thread.
I appreciate you enjoy your Porsches like they should be, but that doesn't make the discussion of the current market null and void because you think everyone should just go out and buy today...
The thing is, what exactly is a bargain. For example im looking particularly at 991.1s or gts. I dont want to buy now unless its good value, but honestly i dont know what good value is exactly. At what figure or when do i buy. The couple of cars i have bid on have either sold or the buyer wont accept. Thats private sellers and obviously no finance.
Im a tight git, id hate to buy now and then come next summer the same car worth 10k less than now.
Im a tight git, id hate to buy now and then come next summer the same car worth 10k less than now.
Edited by CK11 on Sunday 1st October 19:05
Nuttbelle said:
Predicting the bottom of the crash isn't simple or easy.
For some it will never be cheap enough and then when it does turn and they have missed the boat they still won't buy.
YOLO if you can afford it do it, if you can't don't.
As most porsche buyers finance I suggest the latter
I think the finance rates are going to be the killer. Base Carrera is £90k to have sat on your drive for 4 years with nothing to show for it!For some it will never be cheap enough and then when it does turn and they have missed the boat they still won't buy.
YOLO if you can afford it do it, if you can't don't.
As most porsche buyers finance I suggest the latter
993rsr said:
I completely agree, and wasn't suggesting that. I don't think anyone is looking down on anyone else, merely saying that a degree of balance between pleasure and cost should be metered out. I feel sure those who have been waiting will be bagging a bargain in the coming months.
Agreed, I know that you specifically were not.There are people less financially fortunate that have a different balance of pleasure and cost who necessarily can't risk taking a bath, and this discussion is helpful up them.
For those that can buy and enjoy with no consequence, obviously this discussion is not of interest. (And great that they are in that position).
However, those then suggesting that the discussion stop or that sports cars are not for them is ill-mannered in my opinion.
Back on topic, the red 991.1 is still hanging around at £37k... would have thought it would be snapped up!
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