Used 991's overpriced?
Discussion
So if you paid list on a c2s which came out at let's say £93000 , you are looking at a minimum £20000 loss and most likely £25000 + in the first year of ownership if you traded back to an OPC.
For the last several months there has been an abundance of used 991's at OPC's around the low 70's but in my eyes they ain't shifting and quite a few of them are heading towards two year old vehicles now. So surely trade bids on 18 month + c2s must be very low 60k and maybe late 50k?
How can a used 18 month c2s be worth £70k if you can still walk into a Porsche dealer and get a new £93k vehicle for £83k? In other words surely dealer stock is overpriced and ready for a big price correction come the new year?
For the last several months there has been an abundance of used 991's at OPC's around the low 70's but in my eyes they ain't shifting and quite a few of them are heading towards two year old vehicles now. So surely trade bids on 18 month + c2s must be very low 60k and maybe late 50k?
How can a used 18 month c2s be worth £70k if you can still walk into a Porsche dealer and get a new £93k vehicle for £83k? In other words surely dealer stock is overpriced and ready for a big price correction come the new year?
Chipper said:
So if you paid list on a c2s which came out at let's say £93000 , you are looking at a minimum £20000 loss and most likely £25000 + in the first year of ownership if you traded back to an OPC.
For the last several months there has been an abundance of used 991's at OPC's around the low 70's but in my eyes they ain't shifting and quite a few of them are heading towards two year old vehicles now. So surely trade bids on 18 month + c2s must be very low 60k and maybe late 50k?
How can a used 18 month c2s be worth £70k if you can still walk into a Porsche dealer and get a new £93k vehicle for £83k? In other words surely dealer stock is overpriced and ready for a big price correction come the new year?
I have to say all prestige brand main dealers seem to be very heavy on used stock which isn't shifting. Ferrari, Lambo, Bentley, Porsche and Macca all struggling with new and used sales in the UK. People have wised up and are keeping their cars longer. Lots of buyers are happy to buy expensive cars but will not tolerate the depreciation these cars are currently suffering. All these manufacturers would be far better of knocking off 20% across the range on all their new cars to revitalise sales and create a bit of liquidity. Just think what a Porsche dealer is bidding on these 18 month old cars to be able to retail them at £70k. £60k maybe? If you lay on a 458 Italia or spyder you're likely to lose £100k in first 18 months of ownership. Same with the new Macca MC12 or even worse horror stories of some owners can't even get main dealers to bid on 18 month old cars. Bentley CGTs and GTs are equally bad. I walked into OPC Hatfield and there was a shiny new C4S cab fro £120k. I'm not saying anyone would be silly enough to buy this C4S cab for list but doubt a dealer would buy it back for much more than £80k in 18 months. £40k on a Porsche compared to what these Fezza's and Maccas are losing isn't all that bad when you put it in context. I had put a £20k deposit on a 458 spider but they could not get me the colour I wanted without visiting the Atelier so I cancelled - reckon that was a blessing in disguise - think I will just wait 12 months and buy a used one. Lots of people moving into late modern classic nowadays because of this. A Carerra GT doesn't look too expensive against a Ferra Spyder or Macca Spyder at £250k with a bit of spec.For the last several months there has been an abundance of used 991's at OPC's around the low 70's but in my eyes they ain't shifting and quite a few of them are heading towards two year old vehicles now. So surely trade bids on 18 month + c2s must be very low 60k and maybe late 50k?
How can a used 18 month c2s be worth £70k if you can still walk into a Porsche dealer and get a new £93k vehicle for £83k? In other words surely dealer stock is overpriced and ready for a big price correction come the new year?
All these manufacturers would be far better of knocking off 20% across the range on all their new cars to revitalise sales and create a bit of liquidity.
- Bad idea, it would decimate the secondhand market.
- Another reason it wont happen is that Porsche will continue to maintain there % Margin on each sale so not likely to reduce the selling price by 20%
- Bad idea, it would decimate the secondhand market.
- Another reason it wont happen is that Porsche will continue to maintain there % Margin on each sale so not likely to reduce the selling price by 20%
Wishful thinking from someone looking to buy I suggest ?
Yes there are deals to be had especially year end if a dealer is over stocked and coming to the end of his financial year end but those dealers with good stock management are saying its hard to find qulaity used stock
I was offered really strong money on my car in the trade because it was right spec, condition , history etc
Take your time, look at the options and prices in the market, seek out your potential buy and go negotiate.
No point waiting for a 20% price alignment that simply isn't going to happen overnight
I thought 458's would of come down a lot more than they have over the last 2 years but despite everyone thinking they are too much the only thing I can see is the profit margin dealers build in
Sell less, stock longer means increase your profit margin
The used car market is far from meltdown
Yes there are deals to be had especially year end if a dealer is over stocked and coming to the end of his financial year end but those dealers with good stock management are saying its hard to find qulaity used stock
I was offered really strong money on my car in the trade because it was right spec, condition , history etc
Take your time, look at the options and prices in the market, seek out your potential buy and go negotiate.
No point waiting for a 20% price alignment that simply isn't going to happen overnight
I thought 458's would of come down a lot more than they have over the last 2 years but despite everyone thinking they are too much the only thing I can see is the profit margin dealers build in
Sell less, stock longer means increase your profit margin
The used car market is far from meltdown
rObArtes said:
interesting thread
have toyed (still very much a back burner) with the idea of buying a new 981 Cayman, as i may put off a potential house move for a year. so if i bought a new Cayman how depreciation could i expect in 12 months of ownership?
You will probably lose more on the car than you would make on the house..........have toyed (still very much a back burner) with the idea of buying a new 981 Cayman, as i may put off a potential house move for a year. so if i bought a new Cayman how depreciation could i expect in 12 months of ownership?
Baldinho said:
av185 said:
You will probably lose more on the car than you would make on the house..........
Wise words. Buy your house now and save the car for next year.2010spy said:
Had a look at a 650i M Sport. BMW offering a 22% dealer contribution and 0% over 4 years with a small deposit. That would be nice on a 911.
Not gonna happen though.Edited by 2010spy on Wednesday 23 October 22:22
BMW and Mercedes are subsidising some truly amazing deals at the moment.
Porsche will not do this. Its not the same market.
rObArtes said:
interesting thread
have toyed (still very much a back burner) with the idea of buying a new 981 Cayman, as i may put off a potential house move for a year. so if i bought a new Cayman how depreciation could i expect in 12 months of ownership?
You can get a bog standard 2.7 for £395+ vat 6+23 months, probably the cheapest way to get a new Cayman.have toyed (still very much a back burner) with the idea of buying a new 981 Cayman, as i may put off a potential house move for a year. so if i bought a new Cayman how depreciation could i expect in 12 months of ownership?
I was offered 20% discount on a new California , so punted the 991 C4S around the OPC network , not a singe offer , sorry sir we are not buying stock at the moment , I will of course keep the Carrera anyway as arguably it is a better car than the Cali , and £35k off a Cali is still not enough incentive , depreciation is a very scary thing these days.
majordad said:
All these manufacturers would be far better of knocking off 20% across the range on all their new cars to revitalise sales and create a bit of liquidity.
- Bad idea, it would decimate the secondhand market.
- Another reason it wont happen is that Porsche will continue to maintain there % Margin on each sale so not likely to reduce the selling price by 20%
Has happened before Porsche dropped the prices to european level or there abouts.- Bad idea, it would decimate the secondhand market.
- Another reason it wont happen is that Porsche will continue to maintain there % Margin on each sale so not likely to reduce the selling price by 20%
It was 1999 or 2000 can any one remember, a 996 was reduced about 10k.
Gassing Station | Porsche General | Top of Page | What's New | My Stuff