zer0cool

Recently, the new boxster 981 really caught my eye. I really never liked the boxster before, because I just felt it looked .. off in some way. However the new one looks absolutely beautiful.

I care greatly about financial sense and therefore really don't want to take huge depreciation hits. For the past couple years, I have always thought that my next car would be a 2 to 3 year old luxury car (say BMW 7, or Mercedes CLS, Audi A7, or something similar but definitely of the current generation). It's common knowledge that such luxury cars suffer great depreciation in their first 2 to 3 years of life. Also such cars suffer great price drops when generation changes (eg. 2008 750s are significantly cheaper than than 2009 750s).

For Porsche... it appears this common knowledge does not hold. I searched autotrader for 2009 pdk 987.2 boxsters, knowing that they are
1. old generation, and considerably worse looking, and have considerably worse interior
2. 4 years old
3. starting MSRP was 4 to 5k less than the 981

I found that they are still going for 38-43k for non S, and 45-51k for S. Knowing that even new, those none S versions were only about 51-56k (none of them had Nav, so probably 56k tops).

This is amazing... meaning even in the most conservative case, the non S versions have depreciated less than 20k in 4 years and more importantly, even the generation change didn't cause greater depreciation...

examples include
http://www.autotrader.com/cars-for-s...25100670&Log=0

http://www.autotrader.com/cars-for-s...28135996&Log=0

http://www.autotrader.com/cars-for-s...27145209&Log=0


The one in the first link states the original MSRP so I am using that as a standard candle... The other 2 have basically the same equipments...

Obviously these are all dealer sales, and personal sales will be lower priced... But even at the very conservative price of 37k... assuming same options, original MSRP of less than 57k, this is a <20k depreciation in 4 years for an older generation...!!

If such trend holds for the new generation, and if depreciation is less for a current generation car. Then wouldn't it be a conservative (conservative in the sense of how much you can sell for) estimate to say that by 2016, current 981s that are fairly well optioned (59-65k) would still be going for at least 40-45k for even personal sales?

Please let me know what your thoughts are.

I am trying to determine if it makes financial sense buy a new 981.

Thank you

Jim 'n' SC

Asking prices can be a lot higher than actual final sales prices.

zer0cool

How much higher? Anyone with experience?

Is it 2k, 3k, or 8k, 10k?

jwade

Buy a 981 because you want to enjoy it and have fun! It maintains the Boxster name and concept, but is all new.

Porsche will fair well on resale value as long as you keep the car in good condition as I have past experience in this, but do undertsand that purchasing a vehicle, no matter what, is a losing proposition, NO MATTER WHAT...

If you want to take on a pre-owned one, wait a couple years and you may find that right one. I decided to purchase new because I wanted a high spec car and finding one down the road for what I want would be impossible.

I've been down the pre-owned route and it's perfectly fine, just do your homework and look for the best you can find with maintenance records. If you are worried about taking a depreciation hit, you will indeed take it on a new one, BUT, you get what you want and no one but YOU will have ever sat in the drivers seat from day one...And to me, its worth it this time around to go new and I'm not worried about depreciation, but rather the incredible experience of ownership of one of the coolest cars to ever hit the road!

clutchplate

It usually doesn't make financial sense to buy a new Porsche, it will cost you money to drive one period. That said, Porsche residual rates will probably give you the best indication of future value. A base 981 will be worth 58% of sticker in 3 years (12K MI per year), a 981S about 56%. Is it worth it? In my opinion absolutely. This is an extraordinary Porsche that is relentlessly addicting to drive.

zer0cool

Thanks for the responses. I agree it doesn't make financial sense really to buy any new luxury car... However it's really a measure how how much happiness is gained for a certain amount of money.

For most other luxury cars, it's not worth it since the depreciation is just way too high. However it appears from what I ve seen Porsche holds value really well, so this case it may be worth it.

Alright now just need to think more... do some comparison studies hehe (like buy this now vs buying a 2012 Mercedes CLS or Audi A7 next year... really need to think between cool looking vs practicality... obviously the other two cars are also very cool looking, but different, 981 more cool looking of course).

Plavan

Go buy a Spyder, then be done with it. No need to worry about depreciation.

cabriolet

buy it. keep it forever.

matmanx1

In an idea world this would be the answer. I've never actually owned a car that I wanted to own forever but the first time I sat in and drove a Cayman last week I had a pretty strong reaction to it. I need a couple more test drives and more seat time but if they all feel as good as that first one did then it could certainly be a "forever" car.

sjfehr

I put this together a few months ago; just posted it in the 997 forum in a similar topic thread, actually. It's based off Edmunds info. What surprised me was how little difference there is between 987 and 986 resale value. You can expect to see similar depreciation of 981s- big drop when you drive it off the lot, but pretty steady from there. Personally, I like to buy 3-5 year old cars every 5 years or so; still has that new car feel and new car reliability, but costs a lot less than an actual new car. If you want, I'll help you option yours out so you can sell it to me in 5 years

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khooni

unfortunately that is a U.S phenomenon. If you were in the UK, you would be spoilt for choice with spyders depreciating 35-50% depending on spec....

even though there are only 200 spyders in the UK. Blame it on the British weather which proved too much for most owners. I think things will settle when these go to enthusiasts who value them... Makes me want to buy another one...(my third spyder!!!). The european crisis doesn't help at all.

similar situation with the CR. It being released for 1 year and the economic crisis did it no favours. The fact that it won the autocar performance car of the year came right at the end of production also limited production numbers. In the end, I expect CR numbers (despite the more useable hardtop) to be about the same as the spyder. At least it is holding up better in terms of re-sale......


I know. opposite to the U.S.

sjfehr

If you want a Porsche roadster, but are worried about it depreciating, you could always buy a 914

Well, in the US, anyhow where it lacked the VW branding and was solely branded as a Porsche.

clutchplate

That was my first car some 30+ years ago. Could barely afford it at the time, the shift lever broke off in my hand the 1st day I owned it, but I'll never forget the fun I had with it.

medtech

If you're worried about depreciation, don't buy a Porsche.

IME every new porsche drops about $20 grand in the first 2 years (with few exceptions).