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As STG stated in a previous thread, this little yellow triangle can kill many deals, even for something as small as a bumper cover replacement. Many will not buy a car with any damage reported on Carfax, so it cuts down the list of potential buyers.
Is the correct way to approach a purchase. I would require a full PPI from an independent shop that included a diagram showing paint meter readings on all the quarter panels. If someone really just painted the front bumper they should save and include the service records with the vehicle. These cars have so much stuff jammed in the back I would not purchase one with damage listed to the rear bumper ever.
That being said, if I had a service record from a reputable body shop and it just said front bumper respray with the independent PPI and paint meter readings I would not have any issue buying the car and think 20% less in value is the correct number. As someone said above, if this is a car to keep may be worth it but if you only plan on driving for a couple of years I would take a pass.
Originally Posted by pitt911
with all due respect, not being careful with car purchase is not my style and to some extent foolish . I drive my cars and enjoy them, it does not mean that I should blindly buy them
with all due respect, not being careful with car purchase is not my style and to some extent foolish . I drive my cars and enjoy them, it does not mean that I should blindly buy them
If you are buying a Porsche 911 just to check a box the one you mentioned might not be the right one.
Now if the one you mention checks all the boxes, the price reflects its condition and PPI give you all thumbs up......I would not kick a car to the curb because it had some minor paint work done.
For trade in value, that’s a 10k hit. Ask me how I know. I thought nothing of it when I bought it, but it came back to bite me at trade in.
same here, hence i ended up not trading it in. Mine was not even a repair....it was a rear ender, the bumper stop got dented (no crack, just a line indentation on a 987.2 boxster S). The other party didnt have insurance so i called the cops. it got on the carfax as "accident reported" and the dealers want to take 15% off. even when they can see that the bumper is original and the damage was all on the bumper stop
I ended up selling to a PP for $500 less than what i was asking for.
For trade in value, that’s a 10k hit. Ask me how I know. I thought nothing of it when I bought it, but it came back to bite me at trade in.
Ouch! My experience is: it depends. A friend took a $4k hit on a $60k 997 for a 5mph, $700 bumper indentation. Others have reported more like 5%. 20% seems pretty aggressive, but then again, a guy locally selling his 997.1 marked it down nearly 20% due to multiple carfax issues (he has documentation though).
with all due respect, not being careful with car purchase is not my style and to some extent foolish . I drive my cars and enjoy them, it does not mean that I should blindly buy them
Exactly. Don't be the sucker paying too much for a car that you get killed on down the line. There is no reason to buy an accident car at regular retail. At a discount, sure! Most of these were repaired "right"; they are expensive cars, after all.
With that said, listing any accident and pricing the car accordingly (not 15% off though) when you go to sell should net you a decent price. If I were selling a desirable 991 that should go for $70k, I would just list it at $65k and call it a day. It would find a buyer
If in an accident, be sure to get compensated for depreciation. Make sure you get you 10% (or whatever) up front.
same here, hence i ended up not trading it in. Mine was not even a repair....it was a rear ender, the bumper stop got dented (no crack, just a line indentation on a 987.2 boxster S). The other party didnt have insurance so i called the cops. it got on the carfax as "accident reported" and the dealers want to take 15% off. even when they can see that the bumper is original and the damage was all on the bumper stop
I ended up selling to a PP for $500 less than what i was asking for.
I find that often private parties are more ambivalent about repairs than dealers. They can get the car inspected and "see" for themselves. I had some midwestern rust on a truck I was selling, and the local dealer basically said it was worth 7 grand, and nobody would pay more than that for it. I sold it in a day on CL for double that; I marked it down $1500 due to the rust, and there were plenty of people looking for a $1500 discount!
Dealers are always "worst case". This is why I choose to go the consignment route on nicer cars. I always get hosed on trades; I know what my cars are worth, and what they will sell for. Dealers often want to pocket an extra 12-15% just to "buy" the car from me, vs what I would get after consignment fees. It isn't an auction car that they would be consigning: it is a as-new, ready to sell on day-1 car, and their financing costs aren't anywhere close to the extra margin they want. I found a couple of good consignment places to work with, and I come out ahead 10-12% every time. Of course, the Porsche-branded dealers want nothing to do with consignment, even on a current CPO car, as if they started that program, nobody would trade in their car! I mean, they will consign your car for $75k (netting you $70k in 2 months on average) or give you $60k on trade up front. Most of us don't mind them holding our money for a couple of months if it means netting $10k. Of course, most stealerships want that $10k for themselves!
I find that often private parties are more ambivalent about repairs than dealers. They can get the car inspected and "see" for themselves. I had some midwestern rust on a truck I was selling, and the local dealer basically said it was worth 7 grand, and nobody would pay more than that for it. I sold it in a day on CL for double that; I marked it down $1500 due to the rust, and there were plenty of people looking for a $1500 discount!
Dealers are always "worst case". This is why I choose to go the consignment route on nicer cars. I always get hosed on trades; I know what my cars are worth, and what they will sell for. Dealers often want to pocket an extra 12-15% just to "buy" the car from me, vs what I would get after consignment fees. It isn't an auction car that they would be consigning: it is a as-new, ready to sell on day-1 car, and their financing costs aren't anywhere close to the extra margin they want. I found a couple of good consignment places to work with, and I come out ahead 10-12% every time. Of course, the Porsche-branded dealers want nothing to do with consignment, even on a current CPO car, as if they started that program, nobody would trade in their car! I mean, they will consign your car for $75k (netting you $70k in 2 months on average) or give you $60k on trade up front. Most of us don't mind them holding our money for a couple of months if it means netting $10k. Of course, most stealerships want that $10k for themselves!
02-18-2019, 09:28 PM
