Poor offers for c4s from OPC's.
Discussion
I have decided to sell 911 c4s cab,so I have been ringing round togethe best offers from all the opc's.The car is 54 reg with 1500 miles,polar silver with blue trim and hood, sat nav, phone module, bose sound system, heated seats, crested seats, small ali pack, sports exhaust and manual gearbox; it is as new.
The best bid I have had is 60k; I know values have dropped, this car was 76k new, what do you think?
The best bid I have had is 60k; I know values have dropped, this car was 76k new, what do you think?
The newer of the 996s are plummeting in value - there's no other way of putting it. I've been watching prices for the last few months - based on average AutoTrader prices and it's pretty scary - 1K a month depreciation on late model 996s is what you're looking at for such higher end stuff and that's what you're seeing here I guess. With low-mileage 02 model 996tt's available for 55K on a car that cost, what, 90 odd K? A sustained 1K a month loss again...I believe that it's simply because they're so many of them about along with the well-worn supply/demand argument. They'll plateau of course. But when, and at what level?
Yes we still like Porsches, but yes it's also frightening...Car's make great hobbies and they're a lot of fun but they sadly they rarely make good financial sense.
A
>> Edited by sundiver on Saturday 24th September 16:47
Yes we still like Porsches, but yes it's also frightening...Car's make great hobbies and they're a lot of fun but they sadly they rarely make good financial sense.
A
>> Edited by sundiver on Saturday 24th September 16:47
I feel for anyone who loses this amount of money on a car in this sort of time, but you've got to ask yourself did you do your homework.
Why does this surprise so many people, if you buy a new car the depreciation is always high for the first 3 years. Some cars less so, but you're always looking at a % of purchase price which when you're paying £76k is always going to be hard to swallow.
When selling dealers will always tell you it's has low depreciation.
Trouble is when buying cars dealers have to factor in offering a warrenty, making a profit etc, so offer you a low deal plus they understand there aren't many people prepared to buy privately at £50k so you have a limited market.
You could try an independent dealer on sale or return or hold out for a private sale, but if it doesn't sell quickly you may be better to cut your loses and
get the best OPC deal.
Goodluck hope you get a better deal.
Why does this surprise so many people, if you buy a new car the depreciation is always high for the first 3 years. Some cars less so, but you're always looking at a % of purchase price which when you're paying £76k is always going to be hard to swallow.
When selling dealers will always tell you it's has low depreciation.
Trouble is when buying cars dealers have to factor in offering a warrenty, making a profit etc, so offer you a low deal plus they understand there aren't many people prepared to buy privately at £50k so you have a limited market.
You could try an independent dealer on sale or return or hold out for a private sale, but if it doesn't sell quickly you may be better to cut your loses and
get the best OPC deal.
Goodluck hope you get a better deal.
Sounds about right to me......
I looked at selling my turbo cab 10 months into ownership, cost £104k, best i got offered was £80k !!!!
And that was after an insulting £75k for starters !!!
I know £16k is still a lot of money, but in percentage terms, it's still better than some other makes out there.
G.
I looked at selling my turbo cab 10 months into ownership, cost £104k, best i got offered was £80k !!!!
And that was after an insulting £75k for starters !!!
I know £16k is still a lot of money, but in percentage terms, it's still better than some other makes out there.
G.
£60k trade bid equals £65k retail which is £10k drop in 12mths on what now is an 'old' model.
Fact is trade bids are based on what you the buying public is prepared to pay retail and how fast its likely to sell.
Depreciation is not dreamt up by car dealers, merely them reacting to consumers.
When faced with the decision between a 'new' model 997 C2S at £70-£75k or and old model 996C4S most will opt for the 997.
Having/being seen in the latest model is in most buyers minds the thing they desire most! hense the adverse effects on the old.
In years gone by depreciation was softened by constantly increasing list prices, but this no longer happens
Also the sheer volume of cars imported over the last few years further weakens values, but increases Porsches profitability / new model development, its a double edged sword!
Porsche is now a volume player rather than a neiche product, be it an expensive one
>> Edited by mustard on Saturday 24th September 21:21
Fact is trade bids are based on what you the buying public is prepared to pay retail and how fast its likely to sell.
Depreciation is not dreamt up by car dealers, merely them reacting to consumers.
When faced with the decision between a 'new' model 997 C2S at £70-£75k or and old model 996C4S most will opt for the 997.
Having/being seen in the latest model is in most buyers minds the thing they desire most! hense the adverse effects on the old.
In years gone by depreciation was softened by constantly increasing list prices, but this no longer happens
Also the sheer volume of cars imported over the last few years further weakens values, but increases Porsches profitability / new model development, its a double edged sword!
Porsche is now a volume player rather than a neiche product, be it an expensive one
>> Edited by mustard on Saturday 24th September 21:21
I'm sure most people who bought late models 996's most have known that the hit was going to be a hard one.Anyone buying one of these 04-54 plate cars really should have been thinking 3-4 years worth of ownership to get value for money.A friend of mine just sold his C4S on a 02 plate,he paid 66k new did 15 thou mls and sold it 3 weeks ago for 50k,for me i think thats good value for money.
Previous model cars have always plummetted in value when the new model comes out.
This is a matter of historic fact, I'm afraid. Porsche owners have been given a chance to forget this as 993s have retained their value remarkably - they are the last of the "air-cooled" and appear to be moving directly from modern car to cherished classic in one swift and only slightly depreciating motion.
Alas! This will not happen with the 996! A 997 is, in real terms, cheaper (when new) than a 996 was and far cheapeat than a 993! This means older cars are now competing with cheaper newer ones!
My BoxS has lost 50% - 60% of its original value in three years. So I'm test driving the new one (today, actually) - but it will have to be stunningly, stunningly better to get me to part with the 20 - 25K cost of change....especially when my car has only done 20K miles and is in extremely good condition...nigh on perfect. If I sold it now someone would be getting a virtually "new" car at half price.
Bargain for them.
No. If I change my Box it will be for one of those "free-fall depreciating" 996s...
Whilst I feel for anyone with a rapidly depreciating vehicle, just like myself, I have to say KEEP IT! They are GREAT cars. They were GREAT when you bought it and they're still GREAT now! So why change! Squeeze the value out of it!
This is a matter of historic fact, I'm afraid. Porsche owners have been given a chance to forget this as 993s have retained their value remarkably - they are the last of the "air-cooled" and appear to be moving directly from modern car to cherished classic in one swift and only slightly depreciating motion.
Alas! This will not happen with the 996! A 997 is, in real terms, cheaper (when new) than a 996 was and far cheapeat than a 993! This means older cars are now competing with cheaper newer ones!
My BoxS has lost 50% - 60% of its original value in three years. So I'm test driving the new one (today, actually) - but it will have to be stunningly, stunningly better to get me to part with the 20 - 25K cost of change....especially when my car has only done 20K miles and is in extremely good condition...nigh on perfect. If I sold it now someone would be getting a virtually "new" car at half price.
Bargain for them.
No. If I change my Box it will be for one of those "free-fall depreciating" 996s...
Whilst I feel for anyone with a rapidly depreciating vehicle, just like myself, I have to say KEEP IT! They are GREAT cars. They were GREAT when you bought it and they're still GREAT now! So why change! Squeeze the value out of it!
[quote=mustard]£60k trade bid equals £65k retail which is £10k drop in 12mths on what now is an 'old' model.
When faced with the decision between a 'new' model 997 C2S at £70-£75k or and old model 996C4S most will opt for the 997.
New 997 cab's start at ~£66K? - that's what the C4S cab will be up against. OK, so no 4wd, red reflector strip or fancy options - the headline figure's close.
When faced with the decision between a 'new' model 997 C2S at £70-£75k or and old model 996C4S most will opt for the 997.
New 997 cab's start at ~£66K? - that's what the C4S cab will be up against. OK, so no 4wd, red reflector strip or fancy options - the headline figure's close.
No offence meant but I never understand why people buy a car one year before a new model launch. It will be these cars that will always take the biggest hit.
For example the 996tt is still being sold at £100k( with options), when the new 997tt is out in less than a years time at the same price, who in their right mind would buy the 996tt unless its at least £20k cheaper. This means trade in of about £70k!!!! Thats a £30k hit in one year.....
For example the 996tt is still being sold at £100k( with options), when the new 997tt is out in less than a years time at the same price, who in their right mind would buy the 996tt unless its at least £20k cheaper. This means trade in of about £70k!!!! Thats a £30k hit in one year.....
glenn911c4s said:
I have decided to sell 911 c4s cab,so I have been ringing round togethe best offers from all the opc's.The car is 54 reg with 1500 miles,polar silver with blue trim and hood, sat nav, phone module, bose sound system, heated seats, crested seats, small ali pack, sports exhaust and manual gearbox; it is as new.
The best bid I have had is 60k; I know values have dropped, this car was 76k new, what do you think?
Was that an outright buy or a trade in? If a buy it sounds about right to me too.
Yeah this is an interesting one. I've recently bought a 12 month old 996 C4S from an OPC - fully decked with the right options, 8k miles and £57k with 18 month warrenty. I reckon the first owner lost £15k when he traded it to the OPC and with their (hideous) margin I still ended up with about a £14k saving over equivilent new 997.
But the question is at what step of the depreciation ladder did I get on? I guess mine will continue to drop hard for another year but then hopefully settle down at a small step below a base model 997. Guess we'll see but as people have said before, the trick seems to be to hold onto your late model car for 2-3 years to come out of it with your shirt. The '12 month change' brigade will always get burnt on anything other than a limited supply new model that still has strong demand after a year.
But the question is at what step of the depreciation ladder did I get on? I guess mine will continue to drop hard for another year but then hopefully settle down at a small step below a base model 997. Guess we'll see but as people have said before, the trick seems to be to hold onto your late model car for 2-3 years to come out of it with your shirt. The '12 month change' brigade will always get burnt on anything other than a limited supply new model that still has strong demand after a year.
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