How long before a £100k 992 GTS?

How long before a £100k 992 GTS?

Author
Discussion

Denno B

Original Poster:

962 posts

204 months

Saturday 18th March 2023
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Apologies In advance for the how long is a piece of string value question but hear me out!

Bit of background first for context, I’ve had a deposit down on an Emira since July 2021 (i4 amg version). Various annoyances over the last year or two mainly due to poor comms from Lotus had me starting to look at alternatives. So much so that I was close to ordering a new Gts late last year.

I decided against stretching the budget as I thought I’ve got a good price locked in with the Lotus ( at the time we were told that if you had an early deposit there would be no price rise.) However that promise has been pulled and the car has gone up another 8% which is kind of sore but not a deal breaker yet and I still have my deposit in.

Despite this I still keep looking at the Gts and the extra practicality of the rear seats are appealing. But now that the interest rates have rocketed I can only afford a used car @ £120-130k region and that’s only if I sell my vx220t which I’m not sure I want to part with!

So it leads me to the question of how long realistically before we see these at around the £100k mark, which would mean I could keep the VX and cancel the Emira.

All i know is that the current ones for sale are not really going for overs anymore and there does seem to be a substantial amount of used cars on the market.

Hobo

5,755 posts

245 months

Saturday 18th March 2023
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Denno B said:
Apologies In advance for the how long is a piece of string value question but hear me out!

Bit of background first for context, I’ve had a deposit down on an Emira since July 2021 (i4 amg version). Various annoyances over the last year or two mainly due to poor comms from Lotus had me starting to look at alternatives. So much so that I was close to ordering a new Gts late last year.

I decided against stretching the budget as I thought I’ve got a good price locked in with the Lotus ( at the time we were told that if you had an early deposit there would be no price rise.) However that promise has been pulled and the car has gone up another 8% which is kind of sore but not a deal breaker yet and I still have my deposit in.

Despite this I still keep looking at the Gts and the extra practicality of the rear seats are appealing. But now that the interest rates have rocketed I can only afford a used car @ £120-130k region and that’s only if I sell my vx220t which I’m not sure I want to part with!

So it leads me to the question of how long realistically before we see these at around the £100k mark, which would mean I could keep the VX and cancel the Emira.

All i know is that the current ones for sale are not really going for overs anymore and there does seem to be a substantial amount of used cars on the market.
Priced have dropped a bit in the recent months for the early GTS cars, however seem to be firming up again now and I suspect strengthen more as summer becomes nearer.

I don't see a 100k GTS (in a decent spec) for at least another 12 months, maybe in line with Gen 2 cars being released to the market. Just look at the 991 GTS market. 5 year old cars are still around that price, so the chance of jumping into a 18 month old model is slim.

With inflation looking to drop significantly in the latter end of 2023 you would expect interest rates to drop again, and thus finance rates also, so once again the cars become more attractive to more people, supporting stronger used values.

Not Ideal

2,898 posts

187 months

Sunday 19th March 2023
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^^ everything Hobo said.

MC99

410 posts

185 months

Monday 20th March 2023
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I agree with Hobo, and if you look at 991 GTS, while there is alot to choose from 2018 GTS Targas as >100k still and 8yr old 2015 GTS 991.1 are 70k - premium dealers (Paragon et al) still asking for >85k for low mile gen 1 cars. If 992 GTS hit 100k this year, then the car market (and many other things likely too) will have taken a significant 'correction' IMHO

PinkHouse

791 posts

56 months

Monday 20th March 2023
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How about a 991.2 Turbo S? Start at around £100k now and you get the extra back seats, bucketloads of performance but less engaging than a GTS to drive

GT4P

5,188 posts

184 months

Monday 20th March 2023
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I say by the end of the year going by this one https://finder.porsche.com/gb/en-GB/details/porsch...

Andyuk911

1,979 posts

208 months

Monday 20th March 2023
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How do Porsche dealers react to offers? Do they just stick to the advertised price? (asking for a friend).

GT4P

5,188 posts

184 months

Monday 20th March 2023
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Tell him or her to go in and screw them down at the end of this month, it’s end of quarter and end of financial year!

bennno

11,502 posts

268 months

Monday 20th March 2023
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GT4P said:
I say by the end of the year going by this one https://finder.porsche.com/gb/en-GB/details/porsch...
It’s so odd that as standard / as that one is spec’d that it has a plastic dashboard, whilst even the entry level c2 has a leather dash.

Looks really cheap, so long as you don’t mind the low spec.

If Porsche do increase their prices by 8% from April as muted then it’ll support the used car prices.


GT4RS

4,395 posts

196 months

Monday 20th March 2023
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GT4P said:
I say by the end of the year going by this one https://finder.porsche.com/gb/en-GB/details/porsch...
Wow didn’t expect them to be at that price already. Was only the last the month people were trying for silly overs on a 992 gts.

Trufit

65 posts

181 months

Monday 20th March 2023
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Looking at the spec, which is fine if you can live with the plastic dash and without looking at the configurator I’d say that car is pretty much close to list when purchased at the end of 2021, maybe slightly over.

GT4RS

4,395 posts

196 months

Monday 20th March 2023
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Trufit said:
Looking at the spec, which is fine if you can live with the plastic dash and without looking at the configurator I’d say that car is pretty much close to list when purchased at the end of 2021, maybe slightly over.
Doesn’t look a bad spec to be fair.

GT4P

5,188 posts

184 months

Monday 20th March 2023
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When you are seeing nearly new cars advertised for around £150k and one that’s a year old for £115k shows you how fast they are in free fall!
Couple of weeks ago there was a nearly new car for £120k didn’t hang around long though, but some dealers are still trying it on for the uninformed

bennno

11,502 posts

268 months

Monday 20th March 2023
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GT4P said:
When you are seeing nearly new cars advertised for around £150k and one that’s a year old for £115k shows you how fast they are in free fall!
Couple of weeks ago there was a nearly new car for £120k didn’t hang around long though, but some dealers are still trying it on for the uninformed
Some were being sold at premiums, as per post below this one’s quite a basic / odd spec, hence it’s 10k cheaper than the next cheapest.

Cheib

23,110 posts

174 months

Monday 20th March 2023
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Pre-Covid a good spec 991.2 GTS was an £80 to £90k car…which would have been circa £30k below list on a car that was less than two years old. Dealers had plenty of new ones looking for a home.

Prices of nearly new cars are clearly driven by wait times on new cars. Lead times are relatively long still because of the issues with production during Covid but they’re coming down all the time…my guess is in six to nine months lead times on new 911’s will be back to a few months at which point used cars will be at a significant discount to new prices. So a £100k 992 GTS by the end of the year ? It’s a possibility.

PinkHouse

791 posts

56 months

Monday 20th March 2023
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The sooner everyone gets back to the mindset that used cars deprecate the better. This is especially true for mass produced Carreras.
The last couple of years have been an anomaly and I'm looking forward to the days where most buyers are more concerned with the driving experience rather than "resale spec". The example linked above actually has most of what anyone would need options-wise

Nuttcase

405 posts

119 months

Monday 20th March 2023
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I plugged a reg plate for an OPC (71) GTS 17500 miles into Motorway and WBAC and the valuations came out at £96,000 and £101,000 respectively. I can’t see an OPC offering more than that, unless it is particularly high spec.

bennno

11,502 posts

268 months

Tuesday 21st March 2023
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PinkHouse said:
The sooner everyone gets back to the mindset that used cars deprecate the better. This is especially true for mass produced Carreras.
The last couple of years have been an anomaly and I'm looking forward to the days where most buyers are more concerned with the driving experience rather than "resale spec". The example linked above actually has most of what anyone would need options-wise
It doesn’t, it’s missing the leather covered dash which every 911 bar the GTS has as standard. They become showroom monuments without it.

GT4RS

4,395 posts

196 months

Tuesday 21st March 2023
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Nuttcase said:
I plugged a reg plate for an OPC (71) GTS 17500 miles into Motorway and WBAC and the valuations came out at £96,000 and £101,000 respectively. I can’t see an OPC offering more than that, unless it is particularly high spec.
Agree, the car linked above would have been traded around the numbers you mention.

These Opc want / need 15k margin or more in these cars.

A 911 gts was never going to stay at overs for long.

From what I understand Porsche are working hard to get lead times back down to 3 to 6 months on all new cars.


ClubsportStr

370 posts

74 months

Tuesday 21st March 2023
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GT4RS said:
Nuttcase said:
I plugged a reg plate for an OPC (71) GTS 17500 miles into Motorway and WBAC and the valuations came out at £96,000 and £101,000 respectively. I can’t see an OPC offering more than that, unless it is particularly high spec.
Agree, the car linked above would have been traded around the numbers you mention.

These Opc want / need 15k margin or more in these cars.

A 911 gts was never going to stay at overs for long.

From what I understand Porsche are working hard to get lead times back down to 3 to 6 months on all new cars.
There is over supply of GTS because thats the model Porsche mostly produced for the last 18 months, and prices are softening because of this and low spec cars always suffer the most. But with the rumours of a 8% price rise secondhand prices will reflect this so early cars may drop to the 100k mark in the winter months but everyone has been saying the market will have a correction for the last year but it’s not happening yet and some secondhand prices are firming up again which may be due to the time of year.
If we only had a crystal ball !!!