Does mileage kill residuals for Porsches??

[mondeoman]

Just a thought - buying a new/1yr old Porsche 996 and then piling on 35k miles a year , will it get hammered by depreciation or is it more likely to hold up fairly well .........

[diver944]

Well it depends how long you intend to keep it and how meticulous you are keeping it serviced with a huge wad of invoices.

If you only keep it two years then it will be a three year old car with over 70k miles and other buyers would obvioulsy offer less than the average 3 year old 911 with say under 20k (guessing here)

If you keep it 10 years, it will be in the 'old porsche' category with 350k miles, but will probably be on a new or rebuilt engine or gearbox etc. It will then be judged on condition compared to the other 'old Porsches' around at that time. The bodywork will probably still be perfect, and if the mechanicals are all maintained I wouldn't be worried.

I'll offer you 20k for it now

[Melv]

I can wait to see what condition a ten year old 996 will be in compared to a 964 or 3.2.......

Will it be as good???

Melv

[david hype]

Unfortunatly, the 35K miles p.a. that you might impart on your 996 will have an big effect on its value, whatever you say. The thing is, there will be cars available around the time when you intend to sell yours, that will have average and below average milages.

However your miles are clocked up, on motorways or urban, will make little difference because milage is a huge factor here in the UK.

Its stupid really, because all Porsches are built with longetivity in mind (they are designed for Autobhan work)Its just this country and the dealers that put all sorts of nonsence psycological milestones on a car`s life, like the following...

The average UK milage is 10-12,000 p.a.
30,000 miles max for OPC used cars
You need to sell a car before it hits 60,000 miles
Values drop significantly over 100,000 miles

Its all rubbish, because it entirely depends on how the car has been treated and maintained during its life.

What if someone loves Porsches and wants to drive them eveyday and rack up loads of miles. Should this be penalised by huge depreciation?

The problem is that the majority of owners dont do this, they cherish their Porsches and use some other mundane form of transport as the motorway mule. This results in lower milage cars commanding the premium values, relegating the proper "used" cars to the undesirable bin!

But it will never change, its always been like this!

[Danny_Boy]

I've got a Boxster-S W-2000 with 50k on clock, paid 46k for it new, and am about to part-ex it next Tuesday for a V-99 GT3. They're offered me 26k for the boxster which ain't to bad considering the milage.

I tend on driving the GT3 everyday, and piling on the miles. There's no way I'm paying that much for a car just to use at weekends!!

Dan

[charlie360]

I tend to agree with Dan - I've got a 996 TT and am doing around 2-3K miles a month at the moment, what's the point of owning a car like this if you don't use it - having said that Porsche seemto suffer far less than Ferrari's in this respect.

[toppstuff]

Danny_Boy said:

I've got a Boxster-S W-2000 with 50k on clock, paid 46k for it new, and am about to part-ex it next Tuesday for a V-99 GT3. They're offered me 26k for the boxster which ain't to bad considering the milage. I tend on driving the GT3 everyday, and piling on the miles. There's no way I'm paying that much for a car just to use at weekends!! Dan

mmmm..GT3

lucky man..

Post your thoughts on the car when you get it ! Interested to know how it compares to a regular 996 on a day to day basis.

[oldtimer]

yes, David Hype is spot on about the market, and Danny Boy is spot on about why buy a porsche if you are not going to drive it every opportunity. To hell with resale values... enjoy the 35k miles a year , no other performance car will stand up better to it

[JamieBeeston]

charlie360 said:

I tend to agree with Dan - I've got a 996 TT and am doing around 2-3K miles a month at the moment, what's the point of owning a car like this if you don't use it - having said that Porsche seemto suffer far less than Ferrari's in this respect.

Cars are for driving, not minimising fiscal losses on.

If you want to minimise your lose, get a yugo

I dont get people who buy cars, and then drive them only on sunny weekends, with ghastly car bras on, just to keep the cars value... its obvious you cant AFFORD the car, so dont get it... IMHO

TVR = 20k in yr
Porsche = 8k since I got in in June.

So i lose a few K come trade in, who cares, I have 20k miles of memories in the car.

as oposed to 20 miles of memories!

[mondeoman]

JamieBeeston said:

charlie360 said: I tend to agree with Dan - I've got a 996 TT and am doing around 2-3K miles a month at the moment, what's the point of owning a car like this if you don't use it - having said that Porsche seemto suffer far less than Ferrari's in this respect. Cars are for driving, not minimising fiscal losses on. If you want to minimise your lose, get a yugo I dont get people who buy cars, and then drive them only on sunny weekends, with ghastly car bras on, just to keep the cars value... its obvious you cant AFFORD the car, so dont get it... IMHO TVR = 20k in yr Porsche = 8k since I got in in June. So i lose a few K come trade in, who cares, I have 20k miles of memories in the car. as oposed to 20 miles of memories!

If you knew me you'd know I don't buy to do minimal mileage - I hammer my cars big style. Limits are for whimps

But I was just trying to work out if I could afford one yet, given the spare cash/borrowings/residuals issue, amounts lost over 3 years makes an issue on affordability. Simple really - I will have one, just don't know if its yet yet.