Depreciation question on 996 facelift
Discussion
I have a 2002 996 targa - decent spec, beautiful car, sensible miles.
Am in a dilemma whether to sell it now and sit on the cash or hang on to it until May/June next year when its replacement comes along (RS4 avant).
If I sell now, I will need to buy a little run around to tide me over but might save myself a wedge of depreciation on the Pork. Will holding onto it for another 9 months be more cost effective or are they dropping like stones at moment post 997 so best to get shot now?
Help! :judge:
Am in a dilemma whether to sell it now and sit on the cash or hang on to it until May/June next year when its replacement comes along (RS4 avant).
If I sell now, I will need to buy a little run around to tide me over but might save myself a wedge of depreciation on the Pork. Will holding onto it for another 9 months be more cost effective or are they dropping like stones at moment post 997 so best to get shot now?
Help! :judge:
depends what you think is acceptable depreciation over the period.....to give you an idea I have a 52 plate M3 coupe in stock at the minute which dropped £1500 in two months glasses guides..........I would think your car is going to do around £5K in the next 9 months taking into account the new model.........I am crystal ball gazing though, its just a semi educated guess.
Not a car dealer but you can take £6k depreciation in a year as a basis , and I'd add another 2k to that to be on the safe side for the purpose of your calcs. If you enjoy the 996 why not grin and bear it, if you dont care what you drive then sell now if you can get the price you want ...that's likely to be a private sale so may not happen quick.
It’s a difficult one to call with the Targa. I've just sold my 2003 C4S and bought an RS6. The C4S was loosing 1.5K per month, which was unacceptable. I thought the figure would be nearer 1K.
Yours is another year into depreciation but you need to be realistic with the figures. I don’t think 8K is far off.
Yours is another year into depreciation but you need to be realistic with the figures. I don’t think 8K is far off.
People talk about depreciation and book values as if it's physics. The problem is you actually have to get someone to buy your car. When I got my 997 I intended to trade my X5 in, Glasses booked it at 36k, strongest bid at the time was 29.5k. X5s are officially 'bad news', no-one wants them including the BMW dealer I bought it from new, who wouldn't even bid on the car.
Facelift 996 targas fall into a similar catagory because the OPC network don't want them for stock, (no idea why, I think they're a superb package). Independent traders know this and bid well behind book.
The best way to value your car is to ring ten specialists and ask what they'll give you cash for the car. The highest bid is what the car's worth and in today's climate I bet it's at least 3k off Glass's.
Facelift 996 targas fall into a similar catagory because the OPC network don't want them for stock, (no idea why, I think they're a superb package). Independent traders know this and bid well behind book.
The best way to value your car is to ring ten specialists and ask what they'll give you cash for the car. The highest bid is what the car's worth and in today's climate I bet it's at least 3k off Glass's.
Depreciation is entirley dependent on what you think it is worth NOW. Be realistic about that and personally I don't think depreciation will be quite as painful as all that.
The 997 has already had the impact on prices, it is factored in.
I bought an '03 996 Turbo in April, the previous owner had had it for 6 months, done 2500 miles and lost £12750. Ouch !! Reason - he bought from a main dealer and timed it badly. Everyone knew the 997 Turbo was due out and prices crashed, (I sat there and watched prices for nearly a year before I decided to buy). I don't think it has lost much since, maybe just £2k.
I doubt the 997 will have much impact now, it will just be the regular depreciation we all see. Like everyone it is a guess. Bear in mind there is always a 'cost of change' though. Insurers see it as a chance to squeeze extra margin, dealers have to make a living, and every change carries a risk - even runabouts can have expensive problems. At least the Porsche is a known quantity.
Seasonality is important though May / June is a good time to sell, now isn't too bad, mid winter isn't good and prices will be poor Dec-Feb. More so on 'fun' cars like the Porsche which may be viewed as none -essential purchases.
If it were me, I would advertise it at the high end of the price scale now, on a 'hold till sold' type basis, but not worry if you don't get too many enquiries. When the RS4 starts getting nearer start investing more in advertising and drop the price. E-bay has worked for me as well.
Good luck
The 997 has already had the impact on prices, it is factored in.
I bought an '03 996 Turbo in April, the previous owner had had it for 6 months, done 2500 miles and lost £12750. Ouch !! Reason - he bought from a main dealer and timed it badly. Everyone knew the 997 Turbo was due out and prices crashed, (I sat there and watched prices for nearly a year before I decided to buy). I don't think it has lost much since, maybe just £2k.
I doubt the 997 will have much impact now, it will just be the regular depreciation we all see. Like everyone it is a guess. Bear in mind there is always a 'cost of change' though. Insurers see it as a chance to squeeze extra margin, dealers have to make a living, and every change carries a risk - even runabouts can have expensive problems. At least the Porsche is a known quantity.
Seasonality is important though May / June is a good time to sell, now isn't too bad, mid winter isn't good and prices will be poor Dec-Feb. More so on 'fun' cars like the Porsche which may be viewed as none -essential purchases.
If it were me, I would advertise it at the high end of the price scale now, on a 'hold till sold' type basis, but not worry if you don't get too many enquiries. When the RS4 starts getting nearer start investing more in advertising and drop the price. E-bay has worked for me as well.
Good luck
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