"High Mileage" break point?
#1
"High Mileage" break point?
I'm looking at a '16 GTS with just under 50k miles. The car originally stickered for $139k and the seller is asking $92k including full 2 year CPO. I like the car but its not my dream car so I don't think she's a life-long keeper and I need to be concerned with resale. At what point does the car become "Un-CPO-able" if I were to trade it back, and where is the value cliff looming if I try to sell it privately? I did an extensive forum search and the most relevant post had a person claiming to have purchased a car that was the same age as the one I'm considering with 70k miles, and he got it from a dealer with a CPO for less than half the original window sticker. I know it's just 1 example but it was all I could find, and that one example told me in 20k miles, the car would be worth roughly $20k less on a dealer's lot which would mean roughly $30k less in my hands. Its giving me the impression that I'm nearing the edge of the value cliff and might take a significant loss if/when I try to move the car down the road.
thanks!
thanks!
#3
Rennlist Member
Current model year vehicles and those of thirteen previous model years from the original in-service date with less than 124,000 miles are eligible for the Porsche Approved Certified Pre-Owned Program.
https://www.porsche.com/usa/approved...rscheapproved/
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shammerman (07-17-2019)
#4
Rennlist Member
I'm looking at a '16 GTS with just under 50k miles. The car originally stickered for $139k and the seller is asking $92k including full 2 year CPO. I like the car but its not my dream car so I don't think she's a life-long keeper and I need to be concerned with resale. At what point does the car become "Un-CPO-able" if I were to trade it back, and where is the value cliff looming if I try to sell it privately? I did an extensive forum search and the most relevant post had a person claiming to have purchased a car that was the same age as the one I'm considering with 70k miles, and he got it from a dealer with a CPO for less than half the original window sticker. I know it's just 1 example but it was all I could find, and that one example told me in 20k miles, the car would be worth roughly $20k less on a dealer's lot which would mean roughly $30k less in my hands. Its giving me the impression that I'm nearing the edge of the value cliff and might take a significant loss if/when I try to move the car down the road.
thanks!
thanks!
#5
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"High mileage break point?".
I'd say anything over 250,000 miles.
I'd say anything over 250,000 miles.
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#6
Are you buying to enjoy or for re-sale value? If you buy it and sell/trade in a short span of time, you will eat a large % of depreciation.
Spread the cost over time.
My '13 Mercedes isn't worth much, even in its pristine condition, and it has 8 months left on its extended warranty. I'll be keeping it; replacing it would be expensive and TBH, the newer models seem to have been cheapened up. Porsches do maintain their value better (some models exceptionally so) but you don't want to buy and sell too soon, that gets expensive unless you don't care.
To find your dream Porsche is going to a be tough. I looked for months and no dice. Ended up ordering a new one.
Here's a thought, 718 GT4, new. They list at under 100k to start, now that may be a real dream car.
Good luck.
Spread the cost over time.
My '13 Mercedes isn't worth much, even in its pristine condition, and it has 8 months left on its extended warranty. I'll be keeping it; replacing it would be expensive and TBH, the newer models seem to have been cheapened up. Porsches do maintain their value better (some models exceptionally so) but you don't want to buy and sell too soon, that gets expensive unless you don't care.
To find your dream Porsche is going to a be tough. I looked for months and no dice. Ended up ordering a new one.
Here's a thought, 718 GT4, new. They list at under 100k to start, now that may be a real dream car.
Good luck.
#8
Drifting
#9
Burning Brakes
These cars are meant to be driven. The day I worry about putting miles on a car is the day I put that car for sale. The biggest hit you take on a car is when you buy it new, when it is used and well maintained you are actually getting pretty good value for your money. Life is too short to worry about that. buy a car you like and you can afford and enjoy every minute of it.
The following 5 users liked this post by rockrdude:
Honda (07-18-2019),
Schorsch (08-09-2019),
sr5959 (07-17-2019),
TurboS_GG (07-17-2019),
Wing Commander (07-17-2019)
#10
Are you buying to enjoy or for re-sale value? If you buy it and sell/trade in a short span of time, you will eat a large % of depreciation.
Spread the cost over time.
My '13 Mercedes isn't worth much, even in its pristine condition, and it has 8 months left on its extended warranty. I'll be keeping it; replacing it would be expensive and TBH, the newer models seem to have been cheapened up. Porsches do maintain their value better (some models exceptionally so) but you don't want to buy and sell too soon, that gets expensive unless you don't care.
To find your dream Porsche is going to a be tough. I looked for months and no dice. Ended up ordering a new one.
Here's a thought, 718 GT4, new. They list at under 100k to start, now that may be a real dream car.
Good luck.
Spread the cost over time.
My '13 Mercedes isn't worth much, even in its pristine condition, and it has 8 months left on its extended warranty. I'll be keeping it; replacing it would be expensive and TBH, the newer models seem to have been cheapened up. Porsches do maintain their value better (some models exceptionally so) but you don't want to buy and sell too soon, that gets expensive unless you don't care.
To find your dream Porsche is going to a be tough. I looked for months and no dice. Ended up ordering a new one.
Here's a thought, 718 GT4, new. They list at under 100k to start, now that may be a real dream car.
Good luck.
These cars are meant to be driven. The day I worry about putting miles on a car is the day I put that car for sale. The biggest hit you take on a car is when you buy it new, when it is used and well maintained you are actually getting pretty good value for your money. Life is too short to worry about that. buy a car you like and you can afford and enjoy every minute of it.
Anyway, appreciate all the replies.
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sr5959 (07-17-2019)
#11
Drifting
^^^ Good luck with getting a Spyder allocation!
#12
Burning Brakes
Hope you can get a Spyder, that car will be epic!
#13
Instructor
#14
I don't blame them, they don't want to make a promise they can't keep and there are no allocations. Over in the 718 forum I saw one person who already paid $10k ADM to hold a car for him and another dealer demanding a $25k deposit and $25k ADM. At least the ATL dealers are just telling me to sit tight and not demanding ransom money like a few others! Anyway, sorry about the drift in the 991 forum, this follow-on discussion is misplaced.
EDIT: also, thanks to the well wishers! It would be an incredible entry into the world of Porsche cars to get one of these beauties!
#15
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Don't buy a Porsche because of expected resale value. These cars are an emotional experience and totally irrational. Stop thinking about it....