Redundency :sell now or wait
Discussion
Right guys been notified today i'll be made redundent in 30 days.
Now the 996 I bought I decided was a keeper as had it 2 years and got it near dam perfect after spending 7k on various problems and servicing.
It has wanted for nothing inc clutch, flywheel, RMS IMS bearings, 2nd gear rebuild, new springs dampers arms bushes and geo set up from centre gravity as well as maj. service and coil packs etc etc basically all the 996 problems . Just put all new discs pads on and new front tyres.
I would keep her but I've been real lucky with this job and its been farely local so home every night. Now I'v looked at whats available and I may have to spend my time travelling/staying away so car will be sat in garage at an empty house as I live on my own.
Obviously best option is to sell but looking at sub 9k prices for these at the mo has made my heart sink, granted I think these cars will need most of the stuff I've had done, sorted in the very near future so I was thinking is now the time to sell or hold on till spring and risk the car being sat 'alone' while im away?
I would put it up for mid 12k to sell, do the doom moungers think I have a chance at that price?
Discuss !
Now the 996 I bought I decided was a keeper as had it 2 years and got it near dam perfect after spending 7k on various problems and servicing.
It has wanted for nothing inc clutch, flywheel, RMS IMS bearings, 2nd gear rebuild, new springs dampers arms bushes and geo set up from centre gravity as well as maj. service and coil packs etc etc basically all the 996 problems . Just put all new discs pads on and new front tyres.
I would keep her but I've been real lucky with this job and its been farely local so home every night. Now I'v looked at whats available and I may have to spend my time travelling/staying away so car will be sat in garage at an empty house as I live on my own.
Obviously best option is to sell but looking at sub 9k prices for these at the mo has made my heart sink, granted I think these cars will need most of the stuff I've had done, sorted in the very near future so I was thinking is now the time to sell or hold on till spring and risk the car being sat 'alone' while im away?
I would put it up for mid 12k to sell, do the doom moungers think I have a chance at that price?
Discuss !
Sorry to hear about the pending redundancy. Saying that, I have been through it myself and I ended up in a better position so keep positive and you will never look back.
Your car sounds good. It can't be a great time to sell pre-Christmas / Winter etc. so if at all possible, set yourself a target of say six months or so and if things aren't looking up at that point, put it up for sale then as you might find more buyers in the Spring and its value shouldn't have moved much - if anything.
In the mean time, you might get the chance to use it properly!
Your car sounds good. It can't be a great time to sell pre-Christmas / Winter etc. so if at all possible, set yourself a target of say six months or so and if things aren't looking up at that point, put it up for sale then as you might find more buyers in the Spring and its value shouldn't have moved much - if anything.
In the mean time, you might get the chance to use it properly!
old No 1 said:
Right guys been notified today i'll be made redundent in 30 days.
Now the 996 I bought I decided was a keeper as had it 2 years and got it near dam perfect after spending 7k on various problems and servicing.
It has wanted for nothing inc clutch, flywheel, RMS IMS bearings, 2nd gear rebuild, new springs dampers arms bushes and geo set up from centre gravity as well as maj. service and coil packs etc etc basically all the 996 problems . Just put all new discs pads on and new front tyres.
I would keep her but I've been real lucky with this job and its been farely local so home every night. Now I'v looked at whats available and I may have to spend my time travelling/staying away so car will be sat in garage at an empty house as I live on my own.
Obviously best option is to sell but looking at sub 9k prices for these at the mo has made my heart sink, granted I think these cars will need most of the stuff I've had done, sorted in the very near future so I was thinking is now the time to sell or hold on till spring and risk the car being sat 'alone' while im away?
I would put it up for mid 12k to sell, do the doom moungers think I have a chance at that price?
Discuss !
Sell it now m8. Now the 996 I bought I decided was a keeper as had it 2 years and got it near dam perfect after spending 7k on various problems and servicing.
It has wanted for nothing inc clutch, flywheel, RMS IMS bearings, 2nd gear rebuild, new springs dampers arms bushes and geo set up from centre gravity as well as maj. service and coil packs etc etc basically all the 996 problems . Just put all new discs pads on and new front tyres.
I would keep her but I've been real lucky with this job and its been farely local so home every night. Now I'v looked at whats available and I may have to spend my time travelling/staying away so car will be sat in garage at an empty house as I live on my own.
Obviously best option is to sell but looking at sub 9k prices for these at the mo has made my heart sink, granted I think these cars will need most of the stuff I've had done, sorted in the very near future so I was thinking is now the time to sell or hold on till spring and risk the car being sat 'alone' while im away?
I would put it up for mid 12k to sell, do the doom moungers think I have a chance at that price?
Discuss !
If it's paid for, and the money isn't needed immediately is it possible to store it for a while (preferably somewhere free?) Take the tax off it, insure it fire and theft only and treat it as a savings account earning nowt? (I did this when I was off work for six months earlier in the year) You could the get yourself another, cheaper to run car for the meantime?
Sorry to read your news Paul. I wish you a very bright future. Well you have spent quite a few quid on getting your car just right. I'd say if you can keep it. Chance your arm an advertise it for over the predicted odds. If it sells then great but do you really want to let it go. Remember he who dies with the most toys wins 
good luck mate
good luck mate Guys thanks for the sympathy but im not so worried about the job front as I'm sure I'll get something its just it may be abroad or lots of travelling 'unsocial working' due to the type of work I do. Its just going to be a dust collector ! an expensive one at that !
I wont be able to enjoy it(wont be home) and cant see it being practical or usefull for sticking my tools in
Guess i'm asking would mid twelves seem way off when lots are mega cheap right now, granted they will need £££ spending to get to what mine has had but people dont really 'see' this when they are buying I think
I wont be able to enjoy it(wont be home) and cant see it being practical or usefull for sticking my tools in
Guess i'm asking would mid twelves seem way off when lots are mega cheap right now, granted they will need £££ spending to get to what mine has had but people dont really 'see' this when they are buying I think
old No 1 said:
Guys thanks for the sympathy but im not so worried about the job front as I'm sure I'll get something its just it may be abroad or lots of travelling 'unsocial working' due to the type of work I do. Its just going to be a dust collector ! an expensive one at that !
I wont be able to enjoy it(wont be home) and cant see it being practical or usefull for sticking my tools in
Guess i'm asking would mid twelves seem way off when lots are mega cheap right now, granted they will need £££ spending to get to what mine has had but people dont really 'see' this when they are buying I think
I would definitely go for the mid-12s and really sell the piece of mind you get with your car - esp as its a 3.4 that comes with the inherent worries, this worked for me, I looked for a 3.4 that had a bunch of work done for piece of mind. It's so much car for the money! As said earlier if you arent in a hurry might as well start higher. Sorry to hear about the job and best of luck with the new one.I wont be able to enjoy it(wont be home) and cant see it being practical or usefull for sticking my tools in
Guess i'm asking would mid twelves seem way off when lots are mega cheap right now, granted they will need £££ spending to get to what mine has had but people dont really 'see' this when they are buying I think
I suggest waiting until you get your next job and them make a decision. It is too late to sell in the Summer season and who knows - maybe your next job will be a longish commute which would be very pleasant in a Porsche. Time to sell (if that is the end game) is Spring. Right now you have too many unknowns and Winter approaching. Sit tight and consider your Porsche an asset with probably no depreciation for the next 4 months. And good luck with the job hunting!
old No 1 said:
Right guys been notified today i'll be made redundent in 30 days.
Now the 996 I bought I decided was a keeper as had it 2 years and got it near dam perfect after spending 7k on various problems and servicing.
It has wanted for nothing inc clutch, flywheel, RMS IMS bearings, 2nd gear rebuild, new springs dampers arms bushes and geo set up from centre gravity as well as maj. service and coil packs etc etc basically all the 996 problems . Just put all new discs pads on and new front tyres.
I would keep her but I've been real lucky with this job and its been farely local so home every night. Now I'v looked at whats available and I may have to spend my time travelling/staying away so car will be sat in garage at an empty house as I live on my own.
Obviously best option is to sell but looking at sub 9k prices for these at the mo has made my heart sink, granted I think these cars will need most of the stuff I've had done, sorted in the very near future so I was thinking is now the time to sell or hold on till spring and risk the car being sat 'alone' while im away?
I would put it up for mid 12k to sell, do the doom moungers think I have a chance at that price?
Discuss !
Sorry to hear the sad news mate. I would try to look at this from the point of view of both your heart and your head. You've obviously just spent a sizeable amount on ensuring this vehicle is completely up-to scratch, 7k vs a vehicle value of roughly 10k doesn't add up to me. Even if I'd been made redundant and I'd spent 7k on my 997 C4S with roughly sorta 30k vehicle value (optimistic I know) I'd be looking at that outlay and be thinking i'll stick the car in the garage and just leave it there till I find new employment.Now the 996 I bought I decided was a keeper as had it 2 years and got it near dam perfect after spending 7k on various problems and servicing.
It has wanted for nothing inc clutch, flywheel, RMS IMS bearings, 2nd gear rebuild, new springs dampers arms bushes and geo set up from centre gravity as well as maj. service and coil packs etc etc basically all the 996 problems . Just put all new discs pads on and new front tyres.
I would keep her but I've been real lucky with this job and its been farely local so home every night. Now I'v looked at whats available and I may have to spend my time travelling/staying away so car will be sat in garage at an empty house as I live on my own.
Obviously best option is to sell but looking at sub 9k prices for these at the mo has made my heart sink, granted I think these cars will need most of the stuff I've had done, sorted in the very near future so I was thinking is now the time to sell or hold on till spring and risk the car being sat 'alone' while im away?
I would put it up for mid 12k to sell, do the doom moungers think I have a chance at that price?
Discuss !
I guess it boils down to how you ultimately feel about the car. You worked hard in the first place to buy it. Just remember that
I've no view on the asking price, but unless I desperately needed the cash, I'd sit on it for the time being.
As others have said, your next job may well be commutable and there's no better way to commute than in a 911...
If it turns out that your next job is away or overseas. re-evaluate your situation then.
Besides, just because you're living away doesn't mean you can't take your car with you.
As others have said, your next job may well be commutable and there's no better way to commute than in a 911...
If it turns out that your next job is away or overseas. re-evaluate your situation then.
Besides, just because you're living away doesn't mean you can't take your car with you.
reedman said:
996's will not go up IMHO.
Some real interesting comments on the other thread regarding how low 996s will go, it doesn't look good.But, I'd wager that although they'll keep falling for a bit it won't be by much. My point being that selling now is really going to be tough (unless you get a 996 enthusiast specifically looking for a well sorted car-in which case this thread may have been your best move yet
) which inevitably means getting your pants pulled down.Wait until spring & you've got another 5/6 months depreciation but the market will have hopefully picked up so you probably won't have lost any more.
Best of luck whatever you decide, it's a crap time for it to happen but hopefully you'll move on to bigger & better things
Paul
Sorry to hear about the work situation, I'm sure its little conciliation but its happened to me before and after the initial shock/anger/disappointment things do work out. In terms of selling, I am selling a 993 at the moment. I'm in the fortunate position of not needing the cash right now but I need to buy a more sensible vehicle that I can leave in car parks overnight and that will take the mileage that I'm now doing.
Putting it up for sale has been interesting, I started at £20k on PH, not a sniff, have dropped it to £18k on PH and still not a sniff, in the middle of the new classifieds debacle....what worked for me was talking and showing it to dealers, I'm sitting on two offers that are close (ish) to the asking price. I stuck it up on flea bay and as well as getting crazy low, insulting offers I have received 3 at nearly the right money. Its also got 30+ people watching it. So I think it is possible to sell at the moment, you'll need to price keenly and I would recommend phoning dealers, not just waiting on the response from ads.
Personally I would put it up, you don't have to sell it and there are always buyers out there if the car is good. Several of the better known Porsche dealers are aquiring stock at the moment and they will give you an honest, informed and up to date view of value.
Sorry to hear about the work situation, I'm sure its little conciliation but its happened to me before and after the initial shock/anger/disappointment things do work out. In terms of selling, I am selling a 993 at the moment. I'm in the fortunate position of not needing the cash right now but I need to buy a more sensible vehicle that I can leave in car parks overnight and that will take the mileage that I'm now doing.
Putting it up for sale has been interesting, I started at £20k on PH, not a sniff, have dropped it to £18k on PH and still not a sniff, in the middle of the new classifieds debacle....what worked for me was talking and showing it to dealers, I'm sitting on two offers that are close (ish) to the asking price. I stuck it up on flea bay and as well as getting crazy low, insulting offers I have received 3 at nearly the right money. Its also got 30+ people watching it. So I think it is possible to sell at the moment, you'll need to price keenly and I would recommend phoning dealers, not just waiting on the response from ads.
Personally I would put it up, you don't have to sell it and there are always buyers out there if the car is good. Several of the better known Porsche dealers are aquiring stock at the moment and they will give you an honest, informed and up to date view of value.
Hello I was in the same position, last year with my 911. Its a hard call you have spent a lot of money, bring the car up to a good standard. You may have to do the same again on another car.
I found another position within 5 weeks, not the same money but I was still able to hold on to my 911. It would have broke my heart, to sell mine it took me ages to find a good 911. I put it on a Sorn for a while and a laid up policy to keep cost down. I got a cheap runner for work etc. If I had sold mine, I would never be in a position to buy another 911 again.
However end of the day your car your call.
I found another position within 5 weeks, not the same money but I was still able to hold on to my 911. It would have broke my heart, to sell mine it took me ages to find a good 911. I put it on a Sorn for a while and a laid up policy to keep cost down. I got a cheap runner for work etc. If I had sold mine, I would never be in a position to buy another 911 again.
However end of the day your car your call.
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