Gen 2 Cayman devaluation

[Buggyjam]

Hello

This is my first post so please go easy on me :-) . First of all, nice to meet you all online.

I'm looking for my first Porsche. In particular a Gen 2 Cayman. I'm probably going for the 2.9 rather than S. I've been doing my research. I've been saving this last year and I'm planning on laying down about half as cash and financing the other half. Hopefully to prevent over leveraging. Part of my thinking is the inevitable consideration of what it would be worth if I deceided to sell it in say 2/3 years, particularly as I plan on buying my first house at that point. I've been planning on say a 3k drop a year. I've looked out older boxsters as a rough guide, but appreciate they're different cars.

Question is knowing porsche better than me, what would expect the curve to look like for manual 2.9 Gen 2s? Take a 2010 worth say 21k now, at 3k a year that would be 12k in 3 years and 9k in 4. I presumed that caymans wouldn't ever drop to say 5k runners but looking at old boxsters seems that's not that uncommon.

I'm certainly not looking at this as an investment, I know they'll loose money! Just my careful side wants to get some sense of what I'm letting myself in for if I needed to resell as porsches are new to me.

Thanks all in advance!

[Porsche911R]

better than any other car you can buy, just do it.

As always prices and miles go hand in hand. I doubt it will drop £3k a year, these have firmed up really well this year, even gone up.

[DIW35]

Also bear in mind that now the latest Caymans are fitted with the 4cyl turbo, the flat 6 cars may hold their appeal which could slow their depreciation.

[jackliebling]

Don't worry about the depreciation. The values have basically stayed the same for years. I sold my Cayman 2.9 for £23k in 2011! It's probably worth £20k now assuming the mileage isn't astronomical...

[delays]

I think the title should read "depreciation".

I think your figures are a bit low (that said, nobody has a crystal ball...)

Gen 2 Caymans are rare and the pick of the bunch re: engine design (weak points largely removed). Will help solidify values as one could argue that £5-8k is a sensible "buffer" in a buyer's mind to leave room for a good engine rebuild should the IMS/bore score issues occur on an earlier car. Also, options like PCM3 and PDK still have a draw to some buyers; not available on earlier 987 models.

Moose mentions mileage; 6-8k a year probably expected of these cars by the market, but they're just so damn good to drive, seems criminal to even think of it...!

[Buggyjam]

Thank you so much for all your replies. There is some very interesting points I hadn't even considered (positive points). And whilst I know it's always crystal ball stuff I feel much more positive about taking a jump on one. My mind is certainly made up I want one :-)

Quite right about the thread title. It didn't look right after I'd posted it and I now can't figure out how to change it, but I should have said depreciation.

[SV_WDC]

Don't forget the cost of selling too - dealers won't offer you the market rate as they need to make their profit.
Selling privately might make you more money, but you are unlikely to get the market rate.

[Klippie]

If buying private and the car doesn't have a warranty ask the owner to submit the car to an OPC for the 111 point check if it passes OK then its good to apply for a warranty, also the owner can warranty the car straight away, if you buy it you'll have to wait 90 days before you can apply for a warranty...of course you may not want Porsche warranty.

Please do your homework on these cars as they are capable of generating very large bills, go and speak to as many dealers as you can regarding the different models and spec to look out for, when I went looking for a Gen 2 I was advised to buy a 3.4 S as they are more sought after than the base car...good luck in your hunt the right car is out there somewhere.

Edited by Klippie on Friday 8th September 22:37

[Buggyjam]

If a car didn't come from the previous seller with a Porsche warranty, would that be something worthwhile taking out or are there better options on an older Porsche such as a 2009/10? I accept you able to wait 9 months and undergo a rigorous check.

Also this bore scoring issue, are all models prone? Is it primarily gen 1? Or primarily the larger engine capacities for example?

[gadgit]

As there are various articles on 987 engines and marks, it can become confusing to some people.
The Cayman from 2005 is sometimes described as a gen2 car due to improvements in some area's with various updates. The key to buying a far more reliable gen2 car is to buy from 2009 onwards as it was early in that year that the dfi engines began to replace the older engine.
Wikipedia for examplce states that the second generation cars started from 2005 through to 2012 when the 981 started to roll out.
So, for some people it would be easy to think that a gen2 car will be everything that they will need....
So, for people who want to be a bit better protected when reading articles, the best 987 to buy will be the new engined DFI fitted cars.
They will undoubtedly retain more value over a period than a none DFI engine.
The only downside will be the higher starting price.
I had a retailer the other day discribe the 2008 car as a gen2 car.
Clearly that is not fitted with a gen2 engine......as we consider the DFI as gen2.
The Porsche club website does not mention a second generation 987, but just states the better updated DFI engine from early 2009.
A bit confusing, I know. But valuable information none the less for a new buyer.

Gadgit

Edited by gadgit on Wednesday 13th September 15:11

Edited by gadgit on Wednesday 13th September 15:13

[DJMC]

Klippie said:

If buying private and the car doesn't have a warranty ask the owner to submit the car to an OPC for the 111 point check if it passes OK then its good to apply for a warranty, also the owner can warranty the car straight away, if you buy it you'll have to wait 90 days before you can apply for a warranty...of course you may not want Porsche warranty.

Please do your homework on these cars as they are capable of generating very large bills, go and speak to as many dealers as you can regarding the different models and spec to look out for, when I went looking for a Gen 2 I was advised to buy a 3.4 S as they are more sought after than the base car...good luck in your hunt the right car is out there somewhere.

Edited by Klippie on Friday 8th September 22:37

I seem to recall that an OPC will only apply a Porsche extended warranty to a car which has a full Porsche service history with no servicing done outside of the network?

I had my private seller take the car for a 111 point check prior to purchase for peace of mind even though it had its original warranty with it. In hindsight I think they just ticked all the boxes anyhow so I'd only do this if you want to add the warranty. I'd suggest the 2 year option as you don't then have to pay for the 111 point check each year.

[Maxym]

Gen 2: LED DRLs and rear lights are the giveaway.

[Klippie]

DJMC said:

I seem to recall that an OPC will only apply a Porsche extended warranty to a car which has a full Porsche service history with no servicing done outside of the network?

I had my private seller take the car for a 111 point check prior to purchase for peace of mind even though it had its original warranty with it. In hindsight I think they just ticked all the boxes anyhow so I'd only do this if you want to add the warranty. I'd suggest the 2 year option as you don't then have to pay for the 111 point check each year.

When I bought mine private it had no warranty on it ( only two years at that time ) the owner took it for its 111 point check it passed so I paid for the two year warranty...perfect, it did have full service history.

One thing I did find out this year though some OPC's are greedy bds ( been going there for six years now ) my car went in for an MOT, major service including plug change an two year warranty renewal...I got charged for the 111 point check, I asked surely this should be waived as so much checks was already being done, no was the answer...one lot of checks and being paid three times for some of them.

[gadgit]

Cmoose, don't misunderstand what I have said.... I know that....

I said it is sometimes described as a gen2 ..... This is because articles like Wikipedia have said that the boxter is a second generation car from 2005, and therefore some salesman consider the engines in the Cayman have a gen2 engine in them. You and me understand that is not the case with either of the cars.
Go to the Wikipedia site and see.
So, that every newbe on here understands the gen2 cars start from 2009.....with dfi engines.

As I said, this is confusing for people who don't understand what they are buying.
Clearly a salesman recently tried to sell a 2008 boxter to my friend as a gen2 car, and in my book it clearly is not as far as the engine is concerned.
I had to explain to him that although some people consider the 2005 boxter a second generation car, the engine is not a gen2 engine...... He was totally confused.
The Porsche club does not say the 2005 boxter is the second generation car, which in my book is correct way to go.
However in effect it was the mk2 upgrade, but not the engine.

Are you with me.

How to confuse people eh?

Gadgit

[delays]

gadgit said:

Cmoose, don't misunderstand what I have said.... I know that....

I said it is sometimes described as a gen2 ..... This is because articles like Wikipedia have said that the boxter is a second generation car from 2005, and therefore some salesman consider the engines in the Cayman have a gen2 engine in them. You and me understand that is not the case with either of the cars.
Go to the Wikipedia site and see.
So, that every newbe on here understands the gen2 cars start from 2009.....with dfi engines.

As I said, this is confusing for people who don't understand what they are buying.
Clearly a salesman recently tried to sell a 2008 boxter to my friend as a gen2 car, and in my book it clearly is not as far as the engine is concerned.
I had to explain to him that although some people consider the 2005 boxter a second generation car, the engine is not a gen2 engine...... He was totally confused.
The Porsche club does not say the 2005 boxter is the second generation car, which in my book is correct way to go.
However in effect it was the mk2 upgrade, but not the engine.

Are you with me.

How to confuse people eh?

Gadgit

Classic case of:

Know what you're buying. Know what you're selling.

Gen 2s are much more appealing, but there's far fewer out there. Unscrupulous behaviour.

[gadgit]

Delays....

You are 100% right on the money.......

Beware all buyers.

Gadgit.