Discussion
On the old topic of depreciation, I recently bought a Cayman 2.9 from on OPC for £32k which is 9 months old with 5k miles and a pretty high spec. On the configurator it would have retailed for £51200 new, representing a loss of £19200 in 9 months. Great for me and please don't think I am suggesting that it will not continue to depreciate (if it was retailed for £32k then trade must be high 20s?) and I accept that it is the outgoing model. But even assuming the first owner got a reasonable discount (say 10%) that still represents a staggering amount to lose in such a short period.
I asked the sales manager about this and he said that the car had been written down at the end of Jan (from £34950 to £32350) as sod all sold in Jan because of the snow and he said prices would firm up in the spring - fair enough but just one example I suppose that main stream porsches (i.e. not GT3s etc) seem to take a pretty big hit in the first 12 months.
I asked the sales manager about this and he said that the car had been written down at the end of Jan (from £34950 to £32350) as sod all sold in Jan because of the snow and he said prices would firm up in the spring - fair enough but just one example I suppose that main stream porsches (i.e. not GT3s etc) seem to take a pretty big hit in the first 12 months.
mollytherocker said:
SeaBox said:
I asked the sales manager about this and he said that the car had been written down at the end of Jan (from £34950 to £32350) as sod all sold in Jan because of the snow and he said prices would firm up in the spring .
Salesman eh, you just gotta love em....
My 2008 RS60 lost 16.5k in the first 9 months before I bought it. As John Rambo famously said "Nothing changes".
I've popped into two dealers over the last week and was surprised at how many 991's they had sitting in their dealerships waiting for owners.
If you just take a look at the deals being offered by BMW,Merc and Audi through their lease deals to shift metal it really does show how tough the market is.
Even with the £10000 discount on a new 991 you must be still looking down the barrel of a minimum £20000 loss in the first year of ownership.
If you just take a look at the deals being offered by BMW,Merc and Audi through their lease deals to shift metal it really does show how tough the market is.
Even with the £10000 discount on a new 991 you must be still looking down the barrel of a minimum £20000 loss in the first year of ownership.
Not Porsche deprecation but interesting all the same. Friends wife had a 55 reg X3 3.0d 71k miles and very clean. They saw a new X3 2.0d at Glasgow BMW dealer,it was just about to go on as a 13 reg demo. £38000, so they got offered £6500 for the trade in. Didnt say anything at the dealership but when home they phoned and said they only had £27500 to spend and made that offer.Turned down flat.....and then 2 days later the dealer phoned and said they would deal for £28000! £3500 better than their first offer. Who said dealers work on small margins!
SeaBox said:
Dave Thornton said:
The 2 best days of Porsche ownership are the day you buy it and the day you sell it
I thought that was for boats. Some of the days I have had in between those days of Porsche ownership have been simply fantastic.Are you caught in a time loop? Eject the nacelle and use the moons gravitational pull to create a slingshot effect - always works...
steve singh said:
You posted the same thing 2 hours ago?
Are you caught in a time loop? Eject the nacelle and use the moons gravitational pull to create a slingshot effect - always works...
Must be a tech glitch as I only posted once (check my post count) or could be that The Matrix was true after all!Are you caught in a time loop? Eject the nacelle and use the moons gravitational pull to create a slingshot effect - always works...
Don't forget that 20% of a new car on the road cost is VAT.So, any new car owner will lose this the moment they drive off the dealer's forcourt,so a £100k car will toast 20k in it's 1st 30 seconds.1st year depreciation is massive, any car owner who sells a new car within the initial 12 months needs their head testing.The older a car gets, the less steep the depreciation curve is.
I'm very seriously considering a low mileage ie circa 10,000m 997 purely because, looking around, they seem to depreciate in real term much less than a lot of other less interesting cars of similar price.
I think it would be realistic to assume that a well bought 997 (costing about £42,000) would probably lose about 30% of value in two years assuming a mileage of about 8,000 per year. So the loss is approx £12k plus bills over that period.
Anybody agree or disagree with that theory? Also any guide as to a spec more likely to hold its value?
I think it would be realistic to assume that a well bought 997 (costing about £42,000) would probably lose about 30% of value in two years assuming a mileage of about 8,000 per year. So the loss is approx £12k plus bills over that period.
Anybody agree or disagree with that theory? Also any guide as to a spec more likely to hold its value?
Tomgc61 said:
I'm very seriously considering a low mileage ie circa 10,000m 997 purely because, looking around, they seem to depreciate in real term much less than a lot of other less interesting cars of similar price.
I think it would be realistic to assume that a well bought 997 (costing about £42,000) would probably lose about 30% of value in two years assuming a mileage of about 8,000 per year. So the loss is approx £12k plus bills over that period.
Anybody agree or disagree with that theory? Also any guide as to a spec more likely to hold its value?
I guess it depends on how you buy and sell. If you are talking opc, I would say closer to 50%.I think it would be realistic to assume that a well bought 997 (costing about £42,000) would probably lose about 30% of value in two years assuming a mileage of about 8,000 per year. So the loss is approx £12k plus bills over that period.
Anybody agree or disagree with that theory? Also any guide as to a spec more likely to hold its value?
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