Used values - interesting offer from OPC

[T-bagger]

Hi All

My 991.2 Carrera was in my preferred OPC yesterday for service and MOT, which all went relatively painlessly. Anyhow, whilst in the sales guy who sold it to me last year did a valuation. When I came to collect we had a chat and to my surprise he said that if I felt like selling, the network is desperate for stock and offered me £60k. Now bearing in mind that almost exactly 1 year ago I paid £59k and with 6k miles added, here he is offering me more.
I knew there was somewhat of a shortage of new vehicles, but a good chat with the sales chap have a really interesting insight. Essentially due to various build restrictions (COVID, semi-conductor and parts shortages) the lead times for new cars are exceptionally long, meaning that the prices of good used stock has gone through the roof. He admitted they’re paying £3-£4K over value for Boxsters and Caymans, and even more for 911s if they can get them. Scouring the Porsche Approved site, it appears anything mid or rear engine under 12 months old is up for a good deal more than when new. I know this isn’t all new news, but I at least found it interesting.
Also made me wonder if I should put my car up for sale at £65k just to see what happens, take a nice profit and either buy something else when the market settles or throw a deposit down on a new car and sit tight.

Edited by T-bagger on Wednesday 28th July 22:57

Edited by T-bagger on Wednesday 28th July 22:58

[northandy]

Have you checked WBAC yet?.

When I sold my macan to a dealer prices were rising fast, wbac were offering more by the time I took it to the dealer, however I stuck with the dealer as there was no argument over condition, and money was in my account in 30 mins.

[T-bagger]

I haven’t actually as I’d planned to keep the car for a bit longer. The problem is I have a little nagging voice in my head now, telling me that if I can run a 911 for a year and come out completely clean (small value gain covers upkeep), then I’d be silly to not consider it although it’s a great car and I love having it. Crazy market right now though.

[Terminator X]

Price of car you sell has gone up but so has the price of the next car you buy? Tad meaningless shirley unless you plan to wait out the "crash". Nod to all the people waiting since 2008 for house prices to crash.

TX.

[anonymous-user]

Will all depend on how long it takes for supply to return to normal. My read is all the things you mention are short term factors only, hence the market will fully return to equilibrium once they are resolved.

When that is, is however open to speculation, with current guesses ranging from the end of this year to mid 2023 depending on who you are talking to.

The only thing that may change in the longer term is demand, presuming less people are commuting. If you’re doing less miles perhaps you no longer need to run a 2.0tdi and could actually get something a little more interesting for your one day a week commute into the office / leisure activities at the weekend...

[Meeten-5dulx]

Get to use a 911 for a year at no cost…. Yes please.

The above is where you are and if you have another car to use and happy to wait for a replacement, happpy days…

HOW LONG you are willing to wait could be a deciding factor.

[Cheib]

I think it’ll be 2023 before the market returns to normal…..there’s at least six months more of chip shortages so I’d guesstimate a year before things start returning to normal….you’ll have then had the best part of two years of reduced new car supply which I think takes a year of full production to catch up with.

[tedblog]

Terminator X said:

Price of car you sell has gone up but so has the price of the next car you buy? Tad meaningless shirley unless you plan to wait out the "crash". Nod to all the people waiting since 2008 for house prices to crash.

TX.

If you are happy to wait for a new one then price wise these haven't changed.
I know a few who have cashed in and ordered new , most are still working from home so not hassle waiting

[le_gazman]

I’ve been offered not far off what I paid for my 991.1S 2yrs ago, but values are starting to drop since last week. Prices could be on the turn I think.

I’m really not sure which way to go, as I’d be happy to keep the 991 forever since it’s a naturally aspirated 3.8 car. But the thought of having all that money back in the bank does appeal.

[supersport]

Owning it for just a year, and year with so much disruption isn't long enough to get to know it and properly enjoy it.

Just think of all the fun you could be having.

You bought it knowing what it was likely to cost, so it's already spent, just enjoy the car.

[T-bagger]

Thanks for the replies and views all, very interesting. Just to clarify this isn’t so much a should I/shouldn’t I sell question but observations on and opportunities presented by the current market conditions.
Keep talking

[Fezzamania]

I could be wrong, as often am, but you don't sound like you are in love with the car but could cash in and make a profit.
A bird in the hand is worth 2 in the Bush and all that and current prices are in a high bubble unlikely to be sustained or repeated.
Your £60k+ will buy a lot more in 18 months time if you can wait that long

[supersport]

Fezzamania said:

I could be wrong, as often am, but you don't sound like you are in love with the car but could cash in and make a profit.
A bird in the hand is worth 2 in the Bush and all that and current prices are in a high bubble unlikely to be sustained or repeated.
Your £60k+ will buy a lot more in 18 months time if you can wait that long

Or it might not. This craziness could be another 2 years...

[dgswk]

Just checked WBAC on mine, so tempted to chop it in come end of season in October. £5k depreciation for 2 years of 911 992 ownership.

Stuck my £1k down on an Emira, just dont see it arriving for 2 years, so 2022 could be a boring year.

Edited by dgswk on Thursday 29th July 18:01

[Alex_6n2]

Chip shortage is another 2 years of supply chain disruption, not 6 months

Thailand is having a nightmare

[le_gazman]

supersport said:

Or it might not. This craziness could be another 2 years...

Not sure if anyone else had been keeping a record of WBAC prices, but this is the 2nd week in a row for me prices have been down.

[jimbo761]

le_gazman said:

supersport said:

Or it might not. This craziness could be another 2 years...

Not sure if anyone else had been keeping a record of WBAC prices, but this is the 2nd week in a row for me prices have been down.

Yep, mine too, for the first time in months.

Could the market finally be on the turn?

[dgswk]

Nah, up another £2k today on my 992 C2S from maybe 10 days ago

[northandy]

T-bagger said:

I haven’t actually as I’d planned to keep the car for a bit longer. The problem is I have a little nagging voice in my head now, telling me that if I can run a 911 for a year and come out completely clean (small value gain covers upkeep), then I’d be silly to not consider it although it’s a great car and I love having it. Crazy market right now though.

Back in feb I was looking for a new macan gts, was being told 18 months so looked at some other options and was offered from a opc a 2017 991 gts with 12k miles for 79,995… at the time I couldn’t get the maths to work buying that while I waited for a macan (I already had a macan gts)… I do wonder had I bought where that would sit now! I suspect well north of 80k

As it happened I managed to get an earlier build which came in June, in that time the value of my trade in went up 5k anyway but I suspect the 911 would have done a lot better!

[Milemuncher]

Been tracking 911 prices for months. Cursed myself for not biting the bullet on an ultra high spec 991.2 GTS back in March which was very fairly priced.

Have subsequently watched prices increase and then frankly rocket over the early summer period.

I think they have now peaked and are starting to come down slowly…but it may just be a summer lull. I wouldn’t be surprised to see them harden again in the autumn and then drop again around Christmas. Whatever, it is definitely NOT a buyer’s market.