chucknorrisjr

I just decided to buy a Porsche last week, and was initially deciding between a 911 and a Cayman. After a bunch of test drives and hours and hours of research, I've decided on a CPO Cayman. All that back story is in this thread here: https://rennlist.com/forums/991/1102...o-porsche.html

As I said in one of the last posts in the thread above, my plan is as follows:

1) Collect all the listings for 2017 or 2018 CPO Caymans from nationalpreownedporsche.com
2) Choose 4 or 5 of the lowest price ones that have my preferred colors, wheels.
3) Post the links on rennlist and ask for people's opinions on what they are worth.
4) Email or call each dealer and make them offers a couple grand less than what they are worth to leave room for negotiation, have them compete against each other, and then go with whoever gives the best deal.

I've done steps 1 through 2, so now I just need help with 3 and 4. Here are my purchase candidates. I like all of these cars, and would be happy in any of them, so I just want the best deal out of these. I have no idea what to offer the dealer though, so if anyone has opinions I'm all ears. Thanks in advance for any advice!

2017 CPO Cayman Silver 12,719 miles, $53,981 asking, $67,250 MSRP, prod 10/28/16
https://nationalpreownedporsche.com/...tallic+2086905

2017 CPO Cayman Silver 5,097 miles, $59,395 asking, $68,385 MSRP, prod 10/25/16
https://nationalpreownedporsche.com/...tallic+2117327

2017 CPO Cayman Silver 6,555 miles, $59,700 asking, $75,670 MSRP, prod 4/12/17
https://nationalpreownedporsche.com/...tallic+2271569

2018 CPO Cayman Black 7,887 miles, $59,900 asking, $66,200 MSRP, prod 11/3/17
https://nationalpreownedporsche.com/...+Black+1556699

2018 CPO Cayman Black 8,389 miles, $60,999 asking, $69,340 MSRP, prod 6/14/17
https://nationalpreownedporsche.com/...tallic+2075501

2018 CPO Cayman Navy 7,467 miles, $61,950 asking, $68,350 MSRP, prod 11/20/17
https://nationalpreownedporsche.com/...tallic+1587139

Fred V

I'm not sure if it's just me but all those links bring me to an empty page.

IMO it's important you target the options that will have the most impact on your experience with the car. This varies depending on what use you'll do with the car and what you care about. Prices will vary greatly depending on options, so saying the best deal is with the cheapest car is a flawed logic. A car with sport exhaust, sport chrono, PASM, 14-ways and full leather will be more expensive than a no option car, but it might really be a better deal.

chucknorrisjr

Sorry, I just fixed the links, they should work now.

I understand your point about the car, but I did a bunch of test drives, and I really don't care about any options except that the car is automatic and in the colors I like, so I figure why pay for them. Now yes, if there's a Cayman that's $5k more because it has additional options, but is priced better in relation to its true value than a cheaper one, then I'll buy the more expensive Cayman cause it's better value. But I'm confident I'd be happy in any of the cars from the 6 links I posted, so that's why I just want whichever the dealer will price most aggressively in relation to their true market value.

What do you think of this plan: Look up values for the above 6 cars on KBB and Edmunds, take the smaller number, subtract say $3k, and use that number to make an offer to the dealer? Would the best way to negotiate be to call the dealer main phone line, get assigned to a sales person, tell them I identified a car on nationalpreownedporsche and that I'm ready to buy, get their email address, and then make my offer by email so it's easier to negotiate with the 5 or 6 different dealers I'll be contacting?

Fred V

You can. I'm not familiar with KBB and Edmunds, but usually my customers who use these tools to base their prices have unrealistic expectations. In my experience dealers will not have huge negociation margins on these cars. The CPO is around 3k, so they might have around 5-6k of wiggle room maximum. These are all lease buyouts as nobody finished a lease on the 718s yet so big margins from people returning cars will probably be rare. You might be lucky though, who knows

chucknorrisjr

Fred, I tried to make a pricing model keeping your advice and the depreciation data for Cayman 718s I could find through googling. If you (or anyone else reading this thread) have a second, do you mind checking out my spreadsheet here to let me know if the offer prices I calculated seem reasonable? My model takes MSRP, then assuming 2019 is the current model year, applies a 1 yr residual of 81% (assuming 10,000 miles driven) for 2018 and a 2 yr residual of 69% (assuming 20,000 miles driven) for 2017. I then adjust for the variance of actual miles on the car vs the model assumptions of 10k or 20k miles driven, adding or subtracting to estimated value, and then subtract an additional $3k for negotiation room to arrive at my offer price for each car. Do these assumptions make sense and do my offers seem reasonable? Just wanted to check with you guys as I'm ready to start submitting these offers by email to the dealers that I've already contacted for all of these cars. Thanks!

https://docs.google.com/spreadsheets...it?usp=sharing

Fred V

Your model makes sense however it is not adjusted for the CPO which was added to the cars. I'm from Canada and CPO on a Cayman is 4k here so probably around 3k USD in the states. If you can get a deal at your estimated value without your negociation margin you will be getting a great deal. These are still all current generation cars so depreciation is related to mileage more than MY from what I've been seeing of the market

chucknorrisjr

Ok, great, will keep the $3k CPO value add in mind. Last question (I hope) before I start submitting offers. One of these cars was an "executive demo," another a test drive demo, and yet another was a service loaner. Are any of these red flags and does any of that necessitate value adjustments?

Fred V

The service loaner would probably be my least favorite, however I wouldn't hold off on the car simply for that reason. They are made strong and at least at our dealership they are very well maintained