Thinking of selling my 966TT
Discussion
I love my 996TT to bits, but am very disappointed in the way the car has devalued over the last year. So I was thinking of selling it and buying a Ferrari! The way I look at it is, I really would like to buy the 997TT but not if it is only going to be worth half of the value I paid for it two years on. Anyone else had similar thoughts?
Think you will find that most Ferrari's will be no better on depreciation to be honest.
There are 2 ways of looking at it, first is that many people have lost a fair amount on 996TT's in the last 18 months, which have been the worst months for depreciation in the last 6 years they have been making them. So people have been unlucky.
Or, a decent clean early (ie 00) 996TT is still worth about 42k, so its lost just over ,50% of its new value in 6 years which in supercar terms, is pretty good.
They are not making nearly so many 997TT's as 996TT's, which will help values. My main reason for not getting one when I was offered a 2006 build car was that I don't believe its worth £50k over my current 02 996TT. I can almost add a Ferrari 360 as a weekend toy for that money !
R.
There are 2 ways of looking at it, first is that many people have lost a fair amount on 996TT's in the last 18 months, which have been the worst months for depreciation in the last 6 years they have been making them. So people have been unlucky.
Or, a decent clean early (ie 00) 996TT is still worth about 42k, so its lost just over ,50% of its new value in 6 years which in supercar terms, is pretty good.
They are not making nearly so many 997TT's as 996TT's, which will help values. My main reason for not getting one when I was offered a 2006 build car was that I don't believe its worth £50k over my current 02 996TT. I can almost add a Ferrari 360 as a weekend toy for that money !
R.
Depending on the year / mileage of your car I think the worst may be over. I really can't see a nice example that would sell for around the £50k mark being worth a whole lot less three years down the line.
If you were lucky enough to have one of the first 997tt its going to be worth a whole lot more than 50% of new in 2 years time. (At a guess I would say 70% plus)
Depending on which Ferrari you go for the depreciation could be very similar.
In short I would not sell for financial reasons alone.
If you were lucky enough to have one of the first 997tt its going to be worth a whole lot more than 50% of new in 2 years time. (At a guess I would say 70% plus)
Depending on which Ferrari you go for the depreciation could be very similar.
In short I would not sell for financial reasons alone.
OPC will confirm that later '03-04 TT's have taken a wacking wrt to values vs new .
However early '00 cars still hitting low-mid £40k's privately with the last of the line cars going for approx £60k. I have a new 997 TT on order, arrival expected July/Aug - OPC offered me £47k as a outright trade buy back in March - I put it on eBay and got £50k off auction ('01 car /20k miles/Tip)
>> Edited by billybongo on Wednesday 12th April 15:42
However early '00 cars still hitting low-mid £40k's privately with the last of the line cars going for approx £60k. I have a new 997 TT on order, arrival expected July/Aug - OPC offered me £47k as a outright trade buy back in March - I put it on eBay and got £50k off auction ('01 car /20k miles/Tip)
>> Edited by billybongo on Wednesday 12th April 15:42
Since there's interest, what sort of money would my 2002tt make? Lovely midnight blue, 26k, new rear tyres/good fronts, new mot, big service just (about to be) done. Sports seats, sat nav, manual, opc history, 9 months OPC warranty, litronic, no stonechips, beautiful.
Thinking of moving out of it in a month or two.
SM
>> Edited by supermono on Wednesday 12th April 16:48
Thinking of moving out of it in a month or two.
SM
>> Edited by supermono on Wednesday 12th April 16:48
riverproaudio said:
I love my 996TT to bits, but am very disappointed in the way the car has devalued over the last year. So I was thinking of selling it and buying a Ferrari! The way I look at it is, I really would like to buy the 997TT but not if it is only going to be worth half of the value I paid for it two years on. Anyone else had similar thoughts?
Have faith, give it ten days and you'll have driven the car properly on Minihoon. You'll then realise what a truely staggering car the 996TT is. Everyone knows porsche has made many more 996TT than they did 993TT so wasn't the depreciation expected? I know I bought mine 4 years ago and expected to lose 50% of the value over four years. This is rougly what has happened.
Interesting point about 996TT drivers upgrading to 997TT. I'm not bothering and fully understand the idea that for the £50k it would cost you could buy a GT3 or a Ferrari to accompany the 996TT in the stableblock. Hmmm.......
DAZ
supermono said:
Since there's interest, what sort of money would my 2002tt make? Lovely midnight blue, 26k, new rear tyres/good fronts, new mot, big service just (about to be) done. Sports seats, sat nav, manual, opc history, 9 months OPC warranty, litronic, no stonechips, beautiful.
Thinking of moving out of it in a month or two.
SM
If its on an 02 i'd say around £50k if the interior was a decent colour. (Not Tan or Red).
What yr did PCM2 come out?
dazren said:
Have faith, give it ten days and you'll have driven the car properly on Minihoon. You'll then realise what a truely staggering car the 996TT is.
DAZ
I drive it all the time and know what a staggering car the 996TT is. Have taken it to Spain, France, Germany, Belgium and love every moment I drive it. I have also taken it on track a few times at Brans, a truly superb car.
Looking forward immensely to the minihoon.
>> Edited by riverproaudio on Wednesday 12th April 17:17
riverproaudio said:
I love my 996TT to bits, but am very disappointed in the way the car has devalued over the last year. So I was thinking of selling it and buying a Ferrari! The way I look at it is, I really would like to buy the 997TT but not if it is only going to be worth half of the value I paid for it two years on. Anyone else had similar thoughts?
A very illogical reason for selling now! The worst time to sell is when it's just taken a big depreciation hit - either sell before the hit or enjoy it for a while. TT prices have levelled out in recent months (even rising slightly in some cases) - having spent many consecutive months crashing £500 - £1,000 / month. That said, later cars still have some way to fall - earlier cars represent a better bet.
The above facts/opinions are supported by the fact that I am in the market as a buyer! I am currently deliberating between a <£20k E39 M5 (2001-ish) and a <£50k 996 TT (2002-ish) to plug the gap between my AMV8 (going next week) and my 997 TT (arriving Q1 2007 ish).
Will
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