991 GT3 Depreciation
10-25-2013, 01:00 PM
#46
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Well thanks to ir_fuel for sharing his real world experience, as he confirmed my original guesstimate that you will take a massive depreciation hit for the use you described turned out to be an excellent guess, as he took a 50% depreciation hit after 2.5 years. That fits my definition for those who wanted to know back on page 1. Let's see 50% of $145K = $72,500 and I guessed between $75-85K. Not a bad guess.
Sometimes real world examples can really screw up the pie in the sky fantasy. And I'm guessing our friend who took the 50% hit didn't have droves of you lined up at his door to purchase his well used GT3...yeah, that's what I figured.
Buy a purpose built track car, keep it in the garage, and certainly don't track it on the days you do manage to take it out. Only then you get to keep your 10% - 15% depreciation hit per year, otherwise fagetaboutit.
Sometimes real world examples can really screw up the pie in the sky fantasy. And I'm guessing our friend who took the 50% hit didn't have droves of you lined up at his door to purchase his well used GT3...yeah, that's what I figured.
Buy a purpose built track car, keep it in the garage, and certainly don't track it on the days you do manage to take it out. Only then you get to keep your 10% - 15% depreciation hit per year, otherwise fagetaboutit.
http://www.cargurus.com/Cars/l-Used-...911-GT3-t37157
10-25-2013, 03:11 PM
#47
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No, I dont predict 991GT3 to be halved in 2.5 years..even with 40,000miles...never. This depreciation is more than 991 standard depreciation..and thats already among the worst of the market..
10-25-2013, 08:35 PM
#48
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Awesome, nothing like one example to solidify fact. This reminds me of the SA thread - man I'm cancelling my order ASAP. Who the hell wants a poor performing pig that is going to depreciate this much!
http://www.cargurus.com/Cars/l-Used-...911-GT3-t37157
http://www.cargurus.com/Cars/l-Used-...911-GT3-t37157
10-26-2013, 01:44 PM
#49
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Awesome, nothing like one example to solidify fact. This reminds me of the SA thread - man I'm cancelling my order ASAP. Who the hell wants a poor performing pig that is going to depreciate this much!
http://www.cargurus.com/Cars/l-Used-...911-GT3-t37157
http://www.cargurus.com/Cars/l-Used-...911-GT3-t37157
This feels like the same thing. One example of a car sold, becomes statement of fact. So where are all these $75k Gt3s?.....I want one also.
10-26-2013, 01:59 PM
#50
Race Director
Seriously, if I can find a $75k 7.1 I'm buying it, pocketing the other $75k the 991 would have cost me, and smile. Except.. I can't find one
10-26-2013, 04:30 PM
#51
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Meh. Not to be an ***, but I'll purchase cash, drive it as I please, then eventually sell it for whatever the market is at the time. Or not. The dollar amount swings under speculation here won't kill me nor affect my decision to buy/not buy or sell/not sell.
I suspect many are in the same boat.
I suspect many are in the same boat.
10-26-2013, 06:06 PM
#53
Burning Brakes
Cars are not investments. They all depreciate. And frankly I don't see Porsche better or worse then any other vehicle. My dealer had a nice 2010 gt3 recently for $96,000. Seems like it held value fairly well.
10-26-2013, 11:00 PM
#54
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Meh. Not to be an ***, but I'll purchase cash, drive it as I please, then eventually sell it for whatever the market is at the time. Or not. The dollar amount swings under speculation here won't kill me nor affect my decision to buy/not buy or sell/not sell.
I suspect many are in the same boat.
I suspect many are in the same boat.
10-27-2013, 01:04 PM
#56
Rennlist Member
I recently put down a deposit on a new 991 GT3 for next year as a DD and track car 5-6 times a year. I'm looking forward to the car, but anticipate owning it for 2-3 years. My build cost will be $145,000
Would like to inquire the wisdom of the group regarding how much $ it will likely cost to own the car for 2 or 3 years before selling it?
I'm new to buying cars in this price range and so my understanding of initial depreciation, etc, doesn't apply to a special, (but not GT3 RS 4.0 rare) car.
Thanks
Would like to inquire the wisdom of the group regarding how much $ it will likely cost to own the car for 2 or 3 years before selling it?
I'm new to buying cars in this price range and so my understanding of initial depreciation, etc, doesn't apply to a special, (but not GT3 RS 4.0 rare) car.
Thanks
First you loose the tax, then the first year there won't be that many available so you would not loose more than 10K, after that 15k and the 3rd year 20k.
Total is that you can sell if at 100K after 3 years but you will have paid over 150... It's OK though because it's worth it
My experience is that you have to sell around the 18 months mark to loose as little as possible vs usage. after that it's about 5 years... So 3 years is not great for depreciation, this is particularly true if a lot of cars get leased and come off lease at that time. Again my experience is that it's better to lease and watch the market as the lease rates are often close to free money and this effectively gives you a free option to unload the car at a pre-determined number...
Also remember that Porsche had a very strong secondary market because real enthusiasts that could work on the cars would buy a 100K car for 65 and then do the work themselves. It's no longer 65, it's 100 and they can no longer work on the car themselves so Porsche is killing that secondary market by upping prices and cutting DIY guys... this will eventually put pressure on the price of these cars and up the value of the 996 GT3 and previous cars... who cares if you're going 3 seconds a lap faster if all your buddies are in 996GT3s that's what you want to be doing...
Now here's the last bit of my experience: Cars a VERY FAST depreciating assets and you're better off looking at how much fun you're going to have rather than how much $ you're going to loose... only 1 life... lots of $ opportunities
10-27-2013, 11:44 PM
#57
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How many miles were on it? And asking price is not always selling price. Very few high miles GT3 because most are not daily drivers.
10-28-2013, 12:47 AM
#58
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This is my experience and YMMV... But I have owned about 20 of these including 2 RSRs, 3 Cups, a Modena, some low volumes Lotus, etc. so I have a bit of experience.
First you loose the tax, then the first year there won't be that many available so you would not loose more than 10K, after that 15k and the 3rd year 20k.
Total is that you can sell if at 100K after 3 years but you will have paid over 150... It's OK though because it's worth it
My experience is that you have to sell around the 18 months mark to loose as little as possible vs usage. after that it's about 5 years... So 3 years is not great for depreciation, this is particularly true if a lot of cars get leased and come off lease at that time. Again my experience is that it's better to lease and watch the market as the lease rates are often close to free money and this effectively gives you a free option to unload the car at a pre-determined number...
Also remember that Porsche had a very strong secondary market because real enthusiasts that could work on the cars would buy a 100K car for 65 and then do the work themselves. It's no longer 65, it's 100 and they can no longer work on the car themselves so Porsche is killing that secondary market by upping prices and cutting DIY guys... this will eventually put pressure on the price of these cars and up the value of the 996 GT3 and previous cars... who cares if you're going 3 seconds a lap faster if all your buddies are in 996GT3s that's what you want to be doing...
Now here's the last bit of my experience: Cars a VERY FAST depreciating assets and you're better off looking at how much fun you're going to have rather than how much $ you're going to loose... only 1 life... lots of $ opportunities
First you loose the tax, then the first year there won't be that many available so you would not loose more than 10K, after that 15k and the 3rd year 20k.
Total is that you can sell if at 100K after 3 years but you will have paid over 150... It's OK though because it's worth it
My experience is that you have to sell around the 18 months mark to loose as little as possible vs usage. after that it's about 5 years... So 3 years is not great for depreciation, this is particularly true if a lot of cars get leased and come off lease at that time. Again my experience is that it's better to lease and watch the market as the lease rates are often close to free money and this effectively gives you a free option to unload the car at a pre-determined number...
Also remember that Porsche had a very strong secondary market because real enthusiasts that could work on the cars would buy a 100K car for 65 and then do the work themselves. It's no longer 65, it's 100 and they can no longer work on the car themselves so Porsche is killing that secondary market by upping prices and cutting DIY guys... this will eventually put pressure on the price of these cars and up the value of the 996 GT3 and previous cars... who cares if you're going 3 seconds a lap faster if all your buddies are in 996GT3s that's what you want to be doing...
Now here's the last bit of my experience: Cars a VERY FAST depreciating assets and you're better off looking at how much fun you're going to have rather than how much $ you're going to loose... only 1 life... lots of $ opportunities
Several good thoughts, txs
10-28-2013, 02:39 AM
#59
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This is my experience and YMMV... But I have owned about 20 of these including 2 RSRs, 3 Cups, a Modena, some low volumes Lotus, etc. so I have a bit of experience.
First you loose the tax, then the first year there won't be that many available so you would not loose more than 10K, after that 15k and the 3rd year 20k.
Total is that you can sell if at 100K after 3 years but you will have paid over 150... It's OK though because it's worth it
My experience is that you have to sell around the 18 months mark to loose as little as possible vs usage. after that it's about 5 years... So 3 years is not great for depreciation, this is particularly true if a lot of cars get leased and come off lease at that time. Again my experience is that it's better to lease and watch the market as the lease rates are often close to free money and this effectively gives you a free option to unload the car at a pre-determined number...
Also remember that Porsche had a very strong secondary market because real enthusiasts that could work on the cars would buy a 100K car for 65 and then do the work themselves. It's no longer 65, it's 100 and they can no longer work on the car themselves so Porsche is killing that secondary market by upping prices and cutting DIY guys... this will eventually put pressure on the price of these cars and up the value of the 996 GT3 and previous cars... who cares if you're going 3 seconds a lap faster if all your buddies are in 996GT3s that's what you want to be doing...
Now here's the last bit of my experience: Cars a VERY FAST depreciating assets and you're better off looking at how much fun you're going to have rather than how much $ you're going to loose... only 1 life... lots of $ opportunities
First you loose the tax, then the first year there won't be that many available so you would not loose more than 10K, after that 15k and the 3rd year 20k.
Total is that you can sell if at 100K after 3 years but you will have paid over 150... It's OK though because it's worth it
My experience is that you have to sell around the 18 months mark to loose as little as possible vs usage. after that it's about 5 years... So 3 years is not great for depreciation, this is particularly true if a lot of cars get leased and come off lease at that time. Again my experience is that it's better to lease and watch the market as the lease rates are often close to free money and this effectively gives you a free option to unload the car at a pre-determined number...
Also remember that Porsche had a very strong secondary market because real enthusiasts that could work on the cars would buy a 100K car for 65 and then do the work themselves. It's no longer 65, it's 100 and they can no longer work on the car themselves so Porsche is killing that secondary market by upping prices and cutting DIY guys... this will eventually put pressure on the price of these cars and up the value of the 996 GT3 and previous cars... who cares if you're going 3 seconds a lap faster if all your buddies are in 996GT3s that's what you want to be doing...
Now here's the last bit of my experience: Cars a VERY FAST depreciating assets and you're better off looking at how much fun you're going to have rather than how much $ you're going to loose... only 1 life... lots of $ opportunities
11-03-2013, 02:05 PM
#60
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