When selling - what can you factor in ?
Discussion
Say I bought my car for £20,000, and it was still worth £20,000 when I came to sell.
If I had spent £5,000 on upgrading things like suspension, wheels, sports exhaust, steering wheel, discs,clutch, paintwork, could I be expected to add that onto my asking price of £20,000, making it £25,000?
In reality, I suppose we have to wipe out all the money we've spent on maintenance when we come to sell, but it's hard to write-off stuff that's not going to wear out for a few years.
If I'm being silly and it's not the case, then spending any money on upgrades/mods and fun stuff is money down the drain when it comes to selling.
If I had spent £5,000 on upgrading things like suspension, wheels, sports exhaust, steering wheel, discs,clutch, paintwork, could I be expected to add that onto my asking price of £20,000, making it £25,000?
In reality, I suppose we have to wipe out all the money we've spent on maintenance when we come to sell, but it's hard to write-off stuff that's not going to wear out for a few years.
If I'm being silly and it's not the case, then spending any money on upgrades/mods and fun stuff is money down the drain when it comes to selling.
993kimbo said:
Fair enough,
...but if the money had been spent on clutch, paintwork, tyres, brakes, exhaust, and things like new battery, starter motor, alternator etc, could you add the price of those items onto the £20,000?
No....but if the money had been spent on clutch, paintwork, tyres, brakes, exhaust, and things like new battery, starter motor, alternator etc, could you add the price of those items onto the £20,000?
But restoration is very different to up keep and running repairs.
gibbon said:
993kimbo said:
Fair enough,
...but if the money had been spent on clutch, paintwork, tyres, brakes, exhaust, and things like new battery, starter motor, alternator etc, could you add the price of those items onto the £20,000?
No....but if the money had been spent on clutch, paintwork, tyres, brakes, exhaust, and things like new battery, starter motor, alternator etc, could you add the price of those items onto the £20,000?
If his car was 20k because the clutch was on the way out, brakes close to limit, exhaust knackered etc then he could certainly add some of the purchase price onto the asking. Similarly, if his car was mint and well maintained and he was asking 20k, then a similar car which did not have these jobs done would be worth a fair amount less.
The value of any Porsche is affected by many things. Its recent maintenance history is certainly one of them, more so, the older the car.
If you have spent £5k on a 993, it will be worth more than had you not.
How much more, depends on what you have had done, but it is unlikely to be £5k more.
MTR
If you have spent £5k on a 993, it will be worth more than had you not.
How much more, depends on what you have had done, but it is unlikely to be £5k more.
MTR
993kimbo said:
If I had spent £5,000 on upgrading things like suspension, wheels, sports exhaust, steering wheel, discs,clutch, paintwork, could I be expected to add that onto my asking price of £20,000, making it £25,000?
If you had a lovely, standard 993 on 17" cups and you put aftermarket wheels on it and a non standard steering wheel, I'd want £2k off the price to put it back to standard...You buy older cars on condition, if your's is in good condition it's worth more than one which is not.
like wise the buyer will also see that and be willing to pay more.
Dealers don't work that way and just offer book lowest price, so depends who you are selling it too.
Private buyers will always look at 4 or 5 cars if then are after older Pork to get an idea whats out there.
If yours is 3k more than the others but is the best for sale at that time it will sell.
like wise the buyer will also see that and be willing to pay more.
Dealers don't work that way and just offer book lowest price, so depends who you are selling it too.
Private buyers will always look at 4 or 5 cars if then are after older Pork to get an idea whats out there.
If yours is 3k more than the others but is the best for sale at that time it will sell.
As i said, if you buy a car for 20k that NEEDS 5k spending on it, I would imagine it would be worth 23k or there abouts, as long as you negotiated the price in the first place knowing the problems, obviously there is a million variables, but your never going to get all your money back.
If you buy a good car for 20k and you spend 5k on up keep and problems you didnt know about then you will get nada back i imagine.
If you buy a good car for 20k and you spend 5k on up keep and problems you didnt know about then you will get nada back i imagine.
New tyres might add a bit to the price, as will a recent service having been done. Those are two things that a new owner couldn't avoid having to do themselves. Likewise car tax could be considered something that adds a commensurate value based on how many months are left on it, etc.
You don't in my opinion tend to get the cost of options back, at least not in clinical "add what I paid for them to the sale price" terms. You might get some of the money spent back, and may even attract a wider market, but as said already some options can be "to taste". Some people for example might hate one type of Porsche 19" alloy so the fact your car has them is of no real value to them at all. Options, especially ones that can be retrofitted, are also things that a new owner could buy at their leisure so they wouldn't necessarily be looking to pay the full option retrofit cost just to get your car.
Significant non-Porsche mods are probably likely to devalue the car I would've thought.
Lastly, people generally want to feel like they got a good deal when they buy something - expecting them to pay the invoice cost of your mods is pretty unrealistic.
You don't in my opinion tend to get the cost of options back, at least not in clinical "add what I paid for them to the sale price" terms. You might get some of the money spent back, and may even attract a wider market, but as said already some options can be "to taste". Some people for example might hate one type of Porsche 19" alloy so the fact your car has them is of no real value to them at all. Options, especially ones that can be retrofitted, are also things that a new owner could buy at their leisure so they wouldn't necessarily be looking to pay the full option retrofit cost just to get your car.
Significant non-Porsche mods are probably likely to devalue the car I would've thought.
Lastly, people generally want to feel like they got a good deal when they buy something - expecting them to pay the invoice cost of your mods is pretty unrealistic.
Edited by Durzel on Tuesday 17th January 19:41
On the right car, the right work will make you money 
My 993 was desirable spec, mileage & history, iirc I bought for 22.5 & sold for 27.5
I didn't spend anything like 5 grand doing it up, the base car was right so it was wanted & with the suspension & drivetrain refreshed I was able to command a premium (the previous owner had done the brakes, exhaust & the oil leaks iirc). There was zero rust & everything else was pretty much mint & original.
My SC is another matter entirely! I got back the purchase price & everything I spent, but the guy who did the restoration certainly didn't.
The trick is to buy wisely, & get the right jobs done for the right price, some people may find it a pain to go & get work done at gerts in Belgium for instance & in that respect it was easy for me with ring trips to do it that way but if it works out then just do it.
Some bits I picked up off other posters, others were quality parts off write offs fitted by mates-but then this is all part of the fun! (cheers KH by the way)
It's entirely possible for your hobby not to cost you, or at least, for things to come in evens until the next engine rebuild
My 993 was desirable spec, mileage & history, iirc I bought for 22.5 & sold for 27.5
I didn't spend anything like 5 grand doing it up, the base car was right so it was wanted & with the suspension & drivetrain refreshed I was able to command a premium (the previous owner had done the brakes, exhaust & the oil leaks iirc). There was zero rust & everything else was pretty much mint & original.
My SC is another matter entirely! I got back the purchase price & everything I spent, but the guy who did the restoration certainly didn't.
The trick is to buy wisely, & get the right jobs done for the right price, some people may find it a pain to go & get work done at gerts in Belgium for instance & in that respect it was easy for me with ring trips to do it that way but if it works out then just do it.
Some bits I picked up off other posters, others were quality parts off write offs fitted by mates-but then this is all part of the fun! (cheers KH by the way)
It's entirely possible for your hobby not to cost you, or at least, for things to come in evens until the next engine rebuild
Hi there Craig,
Mine was very tidy when I bought it three years ago, and I've spent about £5000 on parts and labour since, inc £1000 having the front windscreen rust doing, plus loads of suspension work. Problem is, there's still stuff to do and it's all going to be money down the drain by the sounds of things. Everyone says every mile's a smile. Balls, every mile is a fiver.
Mine was very tidy when I bought it three years ago, and I've spent about £5000 on parts and labour since, inc £1000 having the front windscreen rust doing, plus loads of suspension work. Problem is, there's still stuff to do and it's all going to be money down the drain by the sounds of things. Everyone says every mile's a smile. Balls, every mile is a fiver.
Edited by 993kimbo on Tuesday 17th January 20:26
993kimbo said:
Hi there Craig,
Mine was very tidy when I bought it three years ago, and I've spent about £5000 on parts and labour since, inc £1000 having the front windscreen rust doing, plus loads of suspension work. Problem is, there's still stuff to do and it's all going to be money down the drain by the sounds of things. Everyone says every mile's a smile. Balls, every mile is a fiver.
It's all give & take kimbo mate, get yourself a low mileage stunner & you worry about putting the miles on, buy a high miler & you won't get your cash back.Mine was very tidy when I bought it three years ago, and I've spent about £5000 on parts and labour since, inc £1000 having the front windscreen rust doing, plus loads of suspension work. Problem is, there's still stuff to do and it's all going to be money down the drain by the sounds of things. Everyone says every mile's a smile. Balls, every mile is a fiver.
Edited by 993kimbo on Tuesday 17th January 20:26
I purposely went for an average mileage car so I could use it hard but it's still keep some good money in it.
Like I said its all about buying right-what's your card details?
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