Depreciation - Free fall

[mph]

Do Porsche now depreciate faster than they accelerate ?

My last three cars:-

Audi A5 - new car - sold back to dealer after 11 months - depreciation £3.5k (I did buy well at the beginning of the financial meltdown)
Jaguar XF 3.0S - demo - sold back to dealer after 10 months - depreciation £6k
VW Scirroco R - demo - dealer never bothered to return my call - depreciation £6k after 10 months

Porsche Boxter S - demo - high spec almost £50k new - on best offer so far I will lose £12k after 8 months !

The car has depreciated an incredible £24k in less than two years. I'm amazed that such a highly rated and desirable sports car has worse residuals than a saloon.

The Boxster S replaced my Morgan Aero 8 which I had owned for two years and had depreciated exactly zero ! Biggest mistake I've made recently.

Why do they depreciate at this rate ?

[Zyp]

I'm typing this from my iPad, sitting on the ledge of an open 10th storey window with my legs dangling out.....

Another depre

[anonymous-user]

On the A5 - you were incredibly lucky. Was the salesman fired when his boss found out what he had done? Nifty resell on the VW and Jag too. Boxster sounds right.

[khushy]

Zyp said:

I'm typing this from my iPad, sitting on the ledge of an open 10th storey window with my legs dangling out.....

Another depre

DO IT - put us all out of your misery!!!

[jonny996]

I always look at the percentage drop not the figure. Also optional extras will drop value a lot faster.

I never add any extras apart from paint & wheels.

[nsm3]

I have just traded my Q5 for a new one - it has lost only £5k in 2 years, in fact my initial deposit of £7k has now become £9.5k - never happened before, I am quite pleased by that.

[huytonman]

on the other hand..it makes them far more available, today I picked up an ex demo S with 4k miles on the clock for 17k less than the list price...I lost a tidy sum on my trade in but swings and roundabouts..I think the Porsche low depreciation angle is a bit of a myth, Ive lost more than I want to think of buying them but I still do it because Im either an idiot or I think they are great cars, the money is well spent and you only live once.

[khushy]

mph said:

. . the car has depreciated an incredible £24k in less than two years. I'm amazed that such a highly rated and desirable sports car has worse residuals than a saloon . . .

the thing that no Pork Farmer on PH seems to (or wants to) grasp is that its just a fking car that (probably) only you find "desirable" like any other - it doesnt have gold-leaf lovingly attached to the body work, its designed by humans and will go wrong + silly gullible fkers like you and me buy them (with our hearts) high and sell them low just like any other punter - its a car - it depreciates like a rock falling off a cliff - deal with it - the world is in the deepest st its ever been in - shall I go go go go go on?

Dont park it - dont polish it - just enjoy driving it before the ground opens up beneath you - all thats left to do is DRIVE!

khushy

[mph]

khushy said:

the thing that no Pork Farmer on PH seems to (or wants to) grasp is that its just a fking car that (probably) only you find "desirable" like any other - it doesnt have gold-leaf lovingly attached to the body work, its designed by humans and will go wrong + silly gullible fkers like you and me buy them (with our hearts) high and sell them low just like any other punter - its a car - it depreciates like a rock falling off a cliff - deal with it - the world is in the deepest st its ever been in - shall I go go go go go on?

Dont park it - dont polish it - just enjoy driving it before the ground opens up beneath you - all thats left to do is DRIVE!

khushy

I didn't realise any of that. Thanks.

P.S. I've owned over 100 cars you'd think I'd know what I'm talking about by now.

[khushy]

mph said:

I didn't realise any of that. Thanks.

P.S. I've owned over 100 cars you'd think I'd know what I'm talking about by now.

obviously YOU would think that you new what you were talking about - but from the content of your OP ?????



khushy

[mph]

drmark said:

On the A5 - you were incredibly lucky. Was the salesman fired when his boss found out what he had done? Nifty resell on the VW and Jag too. Boxster sounds right.

No I bought and sold the Audi at the right time (luck not judgement). I bought at the start of the financial meltdown and it was well discounted. Sold it when there was a shortage of nearly new Audis, the dealer actually called me ! I negotiated hard on the two demo cars and took what they offered me. I was surprised to lose so little on the Jag.

Percentage wise the Boxster has lost nearly 30% in less than twelve months - I thought this was high.

I appreciate the "get out and drive it " school of thought but I like to change my cars often and I have to consider residuals.

[stewart rix]

It's just another mass produced car - high volume production means there is generally a plentiful supply. Hence used prices fall. Basic economics.

3 Years ago we bought a 1 year old BMW 330d touring with every option ticked, BMW director's wife's car that had a list price of £42k. It had done 1750 miles in the year and we paid £28k. That would have been a staggering cost of £8 per mile on depreciation alone had some poor individual actual bought it in the first place. Mind you it's probably worth only half what we paid for it now as well..........

[BertBert]

get out of the wrong side of the bed this morning did we?

khushy said:

the thing that no Pork Farmer on PH seems to (or wants to) grasp is that its just a fking car that (probably) only you find "desirable" like any other - it doesnt have gold-leaf lovingly attached to the body work, its designed by humans and will go wrong + silly gullible fkers like you and me buy them (with our hearts) high and sell them low just like any other punter - its a car - it depreciates like a rock falling off a cliff - deal with it - the world is in the deepest st its ever been in - shall I go go go go go on?

Dont park it - dont polish it - just enjoy driving it before the ground opens up beneath you - all thats left to do is DRIVE!

khushy

[Mattt]

mph said:

I appreciate the "get out and drive it " school of thought but I like to change my cars often and I have to consider residuals.

In that case you should have looked at something air cooled - surely everyone knows that buying a new(ish) Boxster is a bad idea if you care about residuals?

[khushy]

every thread is a fking depreciation thread - its like Pork Farmers have been hiding under a fking stone or something for the last 12 months - I thought most of them were canny business people - but obviously NOT - its just doing my nut in - but I do love the infrequent "I have driven XXX threads ohhhh soooo much!

[mph]

Mattt said:

In that case you should have looked at something air cooled - surely everyone knows that buying a new(ish) Boxster is a bad idea if you care about residuals?

I'm looking for air cooled next that's why the Boxster is up for sale.

[khushy]

Mattt said:

mph said:

I appreciate the "get out and drive it " school of thought but I like to change my cars often and I have to consider residuals.

In that case you should have looked at something air cooled - surely everyone knows that buying a new(ish) Boxster is a bad idea if you care about residuals?

but he has owned over 100 cars!

[gsewell]

This is why I chose carefully with the expectation of keeping the car for more than 10 years - so depreciation will be £3000 plus any running costs.

If you are worried about depreciation start buying 4 year old cars - preferably small hatchbacks.

[CatJ]

Similar experience with my last Boxster. It didn't stay very long as we wanted a 4x4. It was a dealer demo 2.7 with many extras and it went in 4 months from £41k to £33k and even then that was after giving the dealer some serious ear bashing as they tried at one point offering £31k.

[tyrrell]

2007 Caymans S on a 56 plate bought at 10 months old from OPC at £44950 in April 2008, sold back to the same OPC October 2010 for £24500 thats life