Who would buy a 1yo Porsche 992 GT3 at £240k
Discussion
A 992 GT3 is a great car, with a list price if £135k. But you can't buy one new, unless you are a favoured customer, as Porsche won't make enough.
So they become sought after and become investors cars. Those that did buy new soon flip them for a big profit. Why wouldn't you, if you were in their position?
This brings me to my question, who would buy the used cars at £240k. The profit is gone and doesn't look obvious that values will continue to rise. They have actually sunk in value a bit since the start of the year. Looking at these cars advertised, they never have many miles on them, so driving can't be the motive.
At £240k, not only is it a big risk, but it is now in the region of lots of other exotica, so why not look at those. Much more showy.
Thoughts on who would buy and why?
What else should they chose instead?
So they become sought after and become investors cars. Those that did buy new soon flip them for a big profit. Why wouldn't you, if you were in their position?
This brings me to my question, who would buy the used cars at £240k. The profit is gone and doesn't look obvious that values will continue to rise. They have actually sunk in value a bit since the start of the year. Looking at these cars advertised, they never have many miles on them, so driving can't be the motive.
At £240k, not only is it a big risk, but it is now in the region of lots of other exotica, so why not look at those. Much more showy.
Thoughts on who would buy and why?
What else should they chose instead?
The same people who pay an extra £25k to swap the rear bench seats in their Rolls Royce for a pair of 'idividual chairs or a similar price to pay for their Bentley to be in the specific shade of silver that their DB5 is in so that they compliment each other.
People who are paying £100k over list are very rarely doing this with a profit in mind, they're simply happy to pay for the convenience of it being available now and the price tag is somewhat irrelevant.
People who are paying £100k over list are very rarely doing this with a profit in mind, they're simply happy to pay for the convenience of it being available now and the price tag is somewhat irrelevant.
Look at it this way
A £240k car is probably £160-180k list with options.
You can either walk in to your local OPC with your deposit to be told "sorry sir, we cant give you an allocation because we don't know you from Adam" and then go pay £60k overs for a year old car.
Or
You can play the OPC game and buy the Cayenne in hearing aid beige with orange seats and purple wheels at full up list then take a £15k bath in it when he calls you with a base model Macan that he thinks would really suit you, so you jump in and buy that. Next time he calls, you take another £15k bath to change into whatever other car he wants to sell you, while you know full well that eventually, if you buy enough cars and take a deep enough bath on each, he might let you buy a GT3 at list.
So scenario one, you've burned £60k buying at overs and have it now, or scenario two, you've burned £60k+ and waited years
A £240k car is probably £160-180k list with options.
You can either walk in to your local OPC with your deposit to be told "sorry sir, we cant give you an allocation because we don't know you from Adam" and then go pay £60k overs for a year old car.
Or
You can play the OPC game and buy the Cayenne in hearing aid beige with orange seats and purple wheels at full up list then take a £15k bath in it when he calls you with a base model Macan that he thinks would really suit you, so you jump in and buy that. Next time he calls, you take another £15k bath to change into whatever other car he wants to sell you, while you know full well that eventually, if you buy enough cars and take a deep enough bath on each, he might let you buy a GT3 at list.
So scenario one, you've burned £60k buying at overs and have it now, or scenario two, you've burned £60k+ and waited years
Jamescrs said:
People do buy them and use them as intended. I was at the NurburgRing in May and the place is full of them with various nationality plates on and they are getting pushed hard.
I doubt all of the people who had them were Porsche preferred customers but I may be wrong.
Nurburgring isn't a very realistic example of what most people use them for.I doubt all of the people who had them were Porsche preferred customers but I may be wrong.
Clearly some people do buy them used for a premium. The only realistic reason seems to be to show that they can afford to.
But since most don't seem to want to drive them, there must be plenty other more obvious flash choices to make.
After all a GT3 looks just like a £100k 992 with ugly bits bolted on. Only a Porsche fan will actually be impressed.
By Christmas this market will be starting to crumble away with huge ramifications for the entire car trade in the new year. Interest rates will be kicking in , job security will be collapsing and the last things people will want is a huge monthly bill let alone being seen in a bright green 911.
Chipper said:
By Christmas this market will be starting to crumble away with huge ramifications for the entire car trade in the new year. Interest rates will be kicking in , job security will be collapsing and the last things people will want is a huge monthly bill let alone being seen in a bright green 911.
I'd love to borrow your crystal ball before the next lottery draw, please.Whilst I think you might be right, your post has absolutely nothing to do with the OP's question.
J1990 said:
Chipper said:
By Christmas this market will be starting to crumble away with huge ramifications for the entire car trade in the new year. Interest rates will be kicking in , job security will be collapsing and the last things people will want is a huge monthly bill let alone being seen in a bright green 911.
I'd love to borrow your crystal ball before the next lottery draw, please.Whilst I think you might be right, your post has absolutely nothing to do with the OP's question.
J1990 said:
I'd love to borrow your crystal ball before the next lottery draw, please.
Whilst I think you might be right, your post has absolutely nothing to do with the OP's question.
So I’m looking into a crystal ball and you want to use it to pick your lotto numbers but then In your next line you think I might be right at the same time ???? Whilst I think you might be right, your post has absolutely nothing to do with the OP's question.
My input was simply that this market and the people who do purchase at substantially over list will end. This is just my opinion and I suppose my first post was just expanding the OP’s question as it’s pretty easy to answer in the first place. Either you’re filthy rich or financed up to the hilt!
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