996 resale value. 27% drop in 9 months from new!
Discussion
Steve
The car lists in glasses guide at £56450 at time of sale with 18 inch alloys and £54000 standard.
You must have some amazing extras to have paid £66000.
Thats £12000 of extras.
Glasses guide for trade in value now is £50725 for the standard car with 18 inch wheels (£1000 option).
It shows how little value extras has in reality after a year.
I think a lot of depreciation arises from people ticking too many boxes.
If u bought the standard car at £54000,you certainly wouldnt be getting bid £34000 for it and loosing £18000 as u are on a £66000 car.
Moral of story - the more the extras,the more the depreciation.
Hope thats useful to anyone looking to buy a new car.
Joel
The car lists in glasses guide at £56450 at time of sale with 18 inch alloys and £54000 standard.
You must have some amazing extras to have paid £66000.
Thats £12000 of extras.
Glasses guide for trade in value now is £50725 for the standard car with 18 inch wheels (£1000 option).
It shows how little value extras has in reality after a year.
I think a lot of depreciation arises from people ticking too many boxes.
If u bought the standard car at £54000,you certainly wouldnt be getting bid £34000 for it and loosing £18000 as u are on a £66000 car.
Moral of story - the more the extras,the more the depreciation.
Hope thats useful to anyone looking to buy a new car.
Joel
RSJ said:
And vat has absolutely nothing to do with this.
A car sold for £56000 can be bought back for £50000 even a day later and the vat payable by the dealer is 17.5 % of the profit margin of £6000 which is £894.
Do you know any decent accountants Joel?
Surely 17.5% of the £6000 profit margin is £1050
clubsport said:
And vat has absolutely nothing to do with this.
A car sold for £56000 can be bought back for £50000 even a day later and the vat payable by the dealer is 17.5 % of the profit margin of £6000 which is £894.
Do you know any decent accountants Joel?
Surely 17.5% of the £6000 profit margin is £1050
no its not. VAT inclusive £6K means £893.62 VAT element £5106.38 net. Gross £6K. He is correct.
ninja_eli said:
RSJ said:
And vat has absolutely nothing to do with this.
A car sold for £56000 can be bought back for £50000 even a day later and the vat payable by the dealer is 17.5 % of the profit margin of £6000 which is £894.
Do you know any decent accountants Joel?
Gross...got you...that makes sense.....thought it was unlikely Joel wouldn't be up on his accountany...sorry Joel
Surely 17.5% of the £6000 profit margin is £1050
no its not. VAT inclusive £6K means £893.62 VAT element £5106.38 net. Gross £6K. He is correct.
Watch what happens over the next year with porsche on marketing the 997
This is what happened for the first 6-12 months with 993/996 changeover.
All prices at OPC for 997 will not be shown they will all be on application or TBA...they move into marketing the new models over protective of the incredible residuals the new model will achieve.
This is true as until initial supply catches up with demand the 997 will trade at a small premium to list.
Porsche are going to get enough 996 owners trading up to the 997 who are not too fussed at what they get for their old cars, porsche will not want to find themselves stuck with too many 996 that they will only move out of the compound if they appear enough of a bargain.
This is what happened for the first 6-12 months with 993/996 changeover.
All prices at OPC for 997 will not be shown they will all be on application or TBA...they move into marketing the new models over protective of the incredible residuals the new model will achieve.
This is true as until initial supply catches up with demand the 997 will trade at a small premium to list.
Porsche are going to get enough 996 owners trading up to the 997 who are not too fussed at what they get for their old cars, porsche will not want to find themselves stuck with too many 996 that they will only move out of the compound if they appear enough of a bargain.
tony.t said:
oh my god you girls stop worrying.
You would have lost more in a year on a top spec Mondeo than a 996.
No you wouldn't
Tony, Mondeo's vectras etc suffer from massive depreciation in the first year. I wasnt really making a scientific point. But you know full well what I meant so try not to be so pedantic.
Going back to the original question I have to say that I don't think the PX price is fair. I had a 996 facelift & traded it for a TT after a year(with 7k miles). It listed at £60k & I was offered £50k PX, by phoning around most of the OPC's I ended up getting £52k, 2k more from a dealer that wasn't even selling me a car !!!
At 66k your car does sound a little "over optioned" some of which you are going to loose but I would still have expected you to get at least £55k, unless you have done big miles !
Have you tried punting it around the dealers, I suppose the trouble is OPC's have you over a barrel with the 997 coming...mutter mutter... the only silver lining is if you keep the 997 for 6-10 months you will probably get near list back.
PAUL (CLUBSPORT).... Did I see your black LHD 993RS for sale in 911& P.W. , if so whats coming next ?
At 66k your car does sound a little "over optioned" some of which you are going to loose but I would still have expected you to get at least £55k, unless you have done big miles !
Have you tried punting it around the dealers, I suppose the trouble is OPC's have you over a barrel with the 997 coming...mutter mutter... the only silver lining is if you keep the 997 for 6-10 months you will probably get near list back.
PAUL (CLUBSPORT).... Did I see your black LHD 993RS for sale in 911& P.W. , if so whats coming next ?
Im glad others agree about the VAT. Hate it when dealer justify drop in value to VAT. When the boxster was new and in demand, six month old ones were fetching list on the forecourts. Funny how dealers were not bothering with the VAT differnce then.
Supply & demand + dealer overheads and margins determines the pricing - simple as that.
Find a dealer that needs the car for stock and youll get a better price.
Joel - why dont you sell it for him ? After all not much fun selling boxsters at the moment...
>> Edited by rumbletumble on Wednesday 9th June 14:54
Supply & demand + dealer overheads and margins determines the pricing - simple as that.
Find a dealer that needs the car for stock and youll get a better price.
Joel - why dont you sell it for him ?
After all not much fun selling boxsters at the moment... >> Edited by rumbletumble on Wednesday 9th June 14:54
grant3 said:
Going back to the original question I have to say that I don't think the PX price is fair. I had a 996 facelift & traded it for a TT after a year(with 7k miles). It listed at £60k & I was offered £50k PX, by phoning around most of the OPC's I ended up getting £52k, 2k more from a dealer that wasn't even selling me a car !!!
At 66k your car does sound a little "over optioned" some of which you are going to loose but I would still have expected you to get at least £55k, unless you have done big miles !
Have you tried punting it around the dealers, I suppose the trouble is OPC's have you over a barrel with the 997 coming...mutter mutter... the only silver lining is if you keep the 997 for 6-10 months you will probably get near list back.
PAUL (CLUBSPORT).... Did I see your black LHD 993RS for sale in 911& P.W. , if so whats coming next ?
Not mine Grant,,,,that one looks similar but has higher miles, at a reasonable price i thought.
I am on the look out for another lower mileage one myself.
rich1231 said:
[quote=tony.t]
Tony, Mondeo's vectras etc suffer from massive depreciation in the first year. I wasnt really making a scientific point. But you know full well what I meant so try not to be so pedantic.
Mondeos et al don't suffer massive depreciation in either percentage or actual monetary terms.
No one pays list for these cars; Fleet users can sell them into the trade for damn near what they paid for them near, new because they get enormous discounts. Even private purchasers don't pay list. Look at car supermarket prices and there is not a massive difference between their unused and near new stock prices. Major manufacturers need to shift numbers and retail values of both new and used cars is determined by the market.
Everyone pays list for Porsches, the price set by the manufacturer, but the used values are determined by the market.
>> Edited by tony.t on Wednesday 9th June 15:53
By only hoplding the car for a short period of time, you are take the bid offer spread (what dealer buys and sells at) in the one year (plus the amount the car has actually depreciated), the longer you hold the car the longer the bid offer spread can be averaged over the time you held the car.
I know someone who has p/x'd a similar age car (not a Porsche, but an M3 cab) for a newer version and played various dealers off against one another and the end result was a very good deal indeed.
I would phone round as many dealers as possible because they will all want your 997 order. You are the customer afterall and you have a choice as to where you spend your money.
I would phone round as many dealers as possible because they will all want your 997 order. You are the customer afterall and you have a choice as to where you spend your money.
tony.t said:
[quote=tony.t]
Tony, Mondeo's vectras etc suffer from massive depreciation in the first year. I wasnt really making a scientific point. But you know full well what I meant so try not to be so pedantic.
Mondeos et al don't suffer massive depreciation in either percentage or actual monetary terms.
No one pays list for these cars; Fleet users can sell them into the trade for damn near what they paid for them near, new because they get enormous discounts. Even private purchasers don't pay list. Look at car supermarket prices and there is not a massive difference between their unused and near new stock prices. Major manufacturers need to shift numbers and retail values of both new and used cars is determined by the market.
Everyone pays list for Porsches, the price set by the manufacturer, but the used values are determined by the market.
>> Edited by tony.t on Wednesday 9th June 15:53
Jesus H, its like pulling teeth talking to you. You know exactly what I mean and yet you continue to be a pedantic bleep. Ok so I buy a ST24 brand new, how much will it be worth in a years time, 50-60 odd percent of list?
I wasnt intending to ge my calculator out like you seem to want to do.
RSJ said:
And vat has absolutely nothing to do with this. A car sold for £56000 can be bought back for £50000 even a day later and the vat payable by the dealer is 17.5 % of the profit margin of £6000 which is £894.
My comment on VAT was based on new car vat which differs from used car "margin levied" vat, it's not unlike the VAT you need to pay on a used car imported from a non EU country it is non recoverable. The exception being on cars leased to users but we digress.
None of this helps the poor man who is being stiffed of course. Joel is on the money on the options front, generally money lost come sale time.
Either way a 9 month old 996 should sell for mid £50's quite easily. So try and sell it yourself to maximise the return
Allan
private sale 996 market is dead,,i see a few cars city boys are looking to sell on bloomberg....there are loaded 1 yr old cars offered above £50k,,,and a very similar car to the one mentioned offered at £54k for a while now....early 996 will sell at the £30k mark...
late 996 sellers don't have many places to go to sell, hence the OPC bids.
late 996 sellers don't have many places to go to sell, hence the OPC bids.
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