992 Depreciation

[aymonzo]

Hi Everyone,

I am planing to buy a 992 CS. 2019 model . It has good extra options. for 100K with 4000 miles. Do you think it will depreciate more than 15K in a year?

[AB]

At £100k I think it probably will

[MrC986]

Main dealers at the price level the OP is looking at should be working to at least a £15k margin before any significant refurb/service costs. 992s are generally in short supply & hence are subject to the current car price inflation issues so the OP should be wary that £15k will be a low estimate for 1yrs ownership IMO.

[MrVert]

As said above, even with the current bubble, if you trade it after 1 year you'll be lucky to get away with £15k...

If you traded it after one day you might only get £90k

[politeperson]

On the other hand, I paid £85,000 for a brand new C2 at the end of 2019.

The cheapest second hand one in the country is now £93,000.

Depreciation?

£15k seems like a huge margin to me on a nearly new car.

[MrC986]

I can give an insight into OPC margins to assist the OP....a friend took delivery of a brand new 992 late last year and did about 250 miles in it & then sold it back to the supplying dealer due to a change of car circumstances - the dealer put about £14k mark-up on it (resold at significantly more than MRRP) & the car needed nothing more than a wash & a workshop check.

The car market is exceptional at the moment but with the cost of living & a recent interest rate increase, people in the finance sector are concerned it is more than perilous & that there will be a "correction" of some form.

[EC2]

Porsche Financial Services has these cars depreciating about £40-45k over four years from new to GFV. There is likely some headroom in that but it gives a ballpark for a bail out.

As others have said the dealer margin is in there irrespective of how long you keep the car.

Other things being equal a 2019 should be worth £15-20k less than a 2022 in a normal market so factor that in and what you are paying relative to new price. I think it is a risky time to buy unless you plan to keep for several years. The only thing that will bail you out is if new prices go up a lot.

Edited by EC2 on Tuesday 8th February 18:49

[politeperson]

If Porsche insist on charging £15k to wash a car, then the solution has to be to sell privately.

The full Porsche warranty is transferable to the new owner after all.

[aymonzo]

Thank you everyone,

It's my first ever Porsche. Coming from E63 and M5 Competition prior.
The porsche is not from.Porsche dealer. Its an independent prestige sale company. Comparing it to Porsche approved used the car I am getting is at lease 10k less.

[MrC986]

OP, if you are buying from outside the OPC network, just check the warranty that the car will come with - this is something that can close the gap on the price differential very quickly as it is likely a non OPC car will come with either a non Porsche wty (with possibly a limit on the level of claim) or the balance of the manufacturer's original wty i.e. possibly less than 12 months in the case of a 2019 car (assuming they are savvy on how to transfer the wty as technically selling a used Porsche via a non Porsche dealership can invalidate the existing manufacturer wty.unless it is technically a Sale or Return situation). OPC warranty on an approved used car car will come with 24 months' warranty btw.

[aymonzo]

Thanks. It has got Porsche approved warranty expiring 06/2022. I was told its transferable and I was planing to extend it.

[Neoto]

I've got a late 2019 992 Carrera and have made enquiries about chopping it in to an OPC. Similarly age, mileage and spec cars seem to be going for £99500. They originally offered me £86000 then upped it to £88000. They said the biggest cost for them is the 24 month warranty which according to their buyer costs them £2000. They said they wanted to sell my car for £96500 which is more than I paid for it over 2 years ago. So £6500 spread seems possible? They're still interested and I'm surprised that they would sell the car for less than what I've seen other OPC's sell a similar car for. Maybe they're bullstting me.

[AB]

I looked at a low mileage Carrera Cab (2020) which was up with an OPC for £99,950 - I ended up going for a Turbo S Cab for the same price - so that seems like a very good offer to me.

[XMA Simon]

MrC986 said:

...recent interest rate increase, people in the finance sector are concerned it is more than perilous & that there will be a "correction" of some form.

This is a very good point. I'm pretty convinced that there will be numerous rate increases from where we are now, with pretty obvious implications for the new and used car markets.