997 Depreciation

[JohnV]

I've been looking for a 1-2yr old 997 C2 or C2s and paying cash. The more I've thought about it, it is probably better for me to order a new one, with warranty, etc., put my money away for other uses and get a good finance deal. This way I can pick my own colour, spec, etc. I was thinking of a lease purchase with £20/25 down with a £20/25k residual. It all depends on the resale price though to make it realistic, otherwise I'll be the 'balloon' when it comes to paying off the balloon payment!

Anyone out there got an educated view on dealer & retail prices for Porsche? I'd probably spec the C2 up to £67.5k (from £59) and a C2S probably up to £72.5k (from £66k). Does anyone know what an OPC would give after one, two and three years for each car and what I could expect for a private sale?

Any help and advice would be gratefully received!!!

[johnfm]

You could also finance a used 997 through one of the many good finance providers, such as classic&sports finance. There are loads of cars out there, so you could probably get the spec you want and you don't need to fret about the first year depreciation - someone else has already suffered that. Then, as long as you can get better than 7% on your invested cash, you are ahead of the game.

[sleep envy]

look at autotrader to see what the market is for the older cars - some of the early cars are beginning to dip under £50k

[Thorny]

You'll prob lose 10k first yr on an 'S' (based on a trade-in price), after that I am not sure... I

[cardigankid]

The purpose of the balloon payment is to provide a chunk of credit so you can pay a bit of interest and later put the customer under colossal pressure to either walk away from the car or slide into a new deal continuing the cycle. Not dishonest but not something I fancy. I remember not so fondly an OPC who wouldn't quote me a price for a used boxster, only a monthly rate, and the reassurance, 'Come back in in a couple of years and we'll sort something else out'. They wanted the commission on the finance that much.

If you want this as a keeper, find out the difference in paying it off on a steady rate over say 3 years. Watch the APR. Then the car is yours to do what you wish with.

Edited by cardigankid on Friday 6th July 15:46

[qureshia]

Assuming sensible miles (e.g. about 9k first year and then 6k each year after)

New £72.5k
1st year – £59 to £62
2nd year – £53 to £56
3rd year – £48 to £51

After the first year cars like this normally lose about 1% a month (£500)

Added to this is the facelift impact- which could knock them by £2k on release.

I have owned a brand new 997 c2s - sold after one year and also bought a 2 year old one so am reasonable clued up about the real prices.

Two trade in's i know off

a 24 month old high spec S (05 plate 14k miles) - £53.5k
a 30 month old low spec 3.6 (54 plate 39k miles) - £43k

[clarkey]

I recently paid £58k privately for an 18 month old perfect 997S that would be £82k new now. I'll still lose plenty on it, but not as much as the first owners. I also financed it on a balance payments scheme at the same sort of rates as an OPC offer.

I hope it should be worth £54k at 2 years old, and probably £45k to £48k at 3 years old, maybe a little less, but certainly no more than this....

[KGB1]

I am selling a 22 month old 997 C2 with high spec, 1 owner and 9,000 miles, which was approx 66,000 new. Please PM me if you are interested for more details.
Finance and warranty can be arranged.
Kevin.

[Jonathanf]

I sold my 2 year old C2S for 50k with 20k miles on it. Thats better than any dealer would offer.

[forest172]

well OPC have just bought my 997 off me for a cracking price.

bought it private £59,000 put 2500k on it and had it 3 months and sold it to OPC for £57,500

[kayc]

forest172 said:

well OPC have just bought my 997 off me for a cracking price.

bought it private £59,000 put 2500k on it and had it 3 months and sold it to OPC for £57,500

The reason you didnt lose too much is because you bought privately,could you have bought that car from a dealer for £59k?..Unlikely.

[tracer.smart]

cardigankid said:

The purpose of the balloon payment is to provide a chunk of credit so you can pay a bit of interest and later put the customer under colossal pressure to either walk away from the car or slide into a new deal continuing the cycle. Not dishonest but not something I fancy. I remember not so fondly an OPC who wouldn't quote me a price for a used boxster, only a monthly rate, and the reassurance, 'Come back in in a couple of years and we'll sort something else out'. They wanted the commission on the finance that much.

If you want this as a keeper, find out the difference in paying it off on a steady rate over say 3 years. Watch the APR. Then the car is yours to do what you wish with.

Edited by cardigankid on Friday 6th July 15:46

cardigankid - you're right on the money IMHO.

I looked at this a while ago and when I did the maths it worked out cheaper overall to pay it off on a fixed rate over a defined period vs the balloon deals I had been offered, and if I really wanted to I could have engineered the monthly payments to be less than a balloon deal. In the end I opted for a cheaper / older car and cash

[clarkey]

forest172 said:

well OPC have just bought my 997 off me for a cracking price.

bought it private £59,000 put 2500k on it and had it 3 months and sold it to OPC for £57,500

Was this a trade in, or a straight buy? And could you give us an indication of spec/age of car? It seems like a pretty good price.

Thanks.

[forest172]

stright CASH purchase, I had 4 dealers wanting the car ranging from £56,000 - £57,500, then someone said they`d pay £58,000 once I`d sold it

55 reg sept. so it was neally out of warrenty and due its first service

silver, black leather, 4500 miles ( i bought it with 2200miles on.) adaptive sport seats, heated seats, sport chrono, PSExhaust, sat nav, tele, parking sen., cruise, rain sensor & mirrors,

list £75,000

Edited by forest172 on Thursday 12th July 11:12

[USS Bozeman]

forest172 said:

well OPC have just bought my 997 off me for a cracking price.

bought it private £59,000 put 2500k on it and had it 3 months and sold it to OPC for £57,500

Its OK but not cracking really - losing £1,500 in 3 months is like losing £6k a year, or £500 a month, so pretty average depreciation.

[GPM3D]

I bought a 997S in March 05 - £70.5K
Sold back to OPC as a sale or return (sold within 4 days) and returned £62K in August 06 mileage was only 7.5K.
Been offered £3.5k less on my 997 Turbo than I paid 9 months ago - looking at £5K/annum at the moment. Just need to pick my moment to bale out. Trouble is waht next - Turbo is soooo good!
Graham

[nbetts]

I bought a 997 Carrera S in May 06 - Brand New from OPC it cost me £72k - I sold it 6 months and 5k miles later for £66k.

I suspect that the trade would bid me about £53-55k for that same car now if I still owned it.

[qureshia]

GPM3D said:

I bought a 997S in March 05 - £70.5K
Sold back to OPC as a sale or return (sold within 4 days) and returned £62K in August 06 mileage was only 7.5K.
Been offered £3.5k less on my 997 Turbo than I paid 9 months ago - looking at £5K/annum at the moment. Just need to pick my moment to bale out. Trouble is waht next - Turbo is soooo good!
Graham

You've done well ! I owned a S for the same period as you and lost twice as much - but then again i did do three times the milage.

£3.5k for 9 months in a Turbo - what a bargin !

[baz1985]

Slightly off-topic.......

Can anyone give me a value on this:

2005 54 (30 months old) 30k miles
997 C2S: Arctic Silver, Black Leather (Electrically adjustable-standard seats), Automatically dimming interior and exterior mirrors with integrated rain sensor, BOSE Surround Sound System, CDC-4 six disc CD autochanger, Cruise control, Heated Seats, Navigation & Telephone module for PCM, ParkAssist, Rear Wiper, Sport Chrono Package Plus, Three-spoke multi-function steering wheel in smooth leather.

(Main item missing imo is Sports Exhaust system imo).


Cheers,

Baz

[clarkey]

baz1985 said:

Slightly off-topic.......

Can anyone give me a value on this:

2005 54 (30 months old) 30k miles
997 C2S: Arctic Silver, Black Leather (Electrically adjustable-standard seats), Automatically dimming interior and exterior mirrors with integrated rain sensor, BOSE Surround Sound System, CDC-4 six disc CD autochanger, Cruise control, Heated Seats, Navigation & Telephone module for PCM, ParkAssist, Rear Wiper, Sport Chrono Package Plus, Three-spoke multi-function steering wheel in smooth leather.

(Main item missing imo is Sports Exhaust system imo).



Cheers,

Baz

Does it have Porsche warranty on it? If not thats another £1000+ to add for the inspection and the warranty. I reckon no more than £50k private sale.