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I traded my owned-since-new 991S Cab to Bethesda Porsche (MD) on a a new 992 S Cab. I went up there today to get my HRE Wheels, Tubi Exhaust, Smart Top Module, Titanium Lugnuts, and Clear Front turn signals that were taken off the car (all these are going to be for sale as soon as I can get the ads up). It was really kind of sad to walk into the shop and see my old car there on the lift, undergoing its return to stock configuration and CPO certification. I really enjoyed this car, its a solid, good ride, never in rain and lovingly Swissvax'ed every 6 months since new. I thought to myself "What did I do!" I mean, the 992 is great, but I bonded with my 991 that I owned for 6 years, 9 months. Crap, wish I could afford to keep two - but I can't. The 992 is superb, but it will take time to be one with the car.
Anyways, I did the math on this car - some of you might enjoy this. MSRP (sticker) was $ 114,745 on the car. It sat on their lot for some time since it was a manual transmission and I bought it for $ 105K in March 2014, and it was a CPO car since the warranty had been punched and they included three years free maintenance. Trade in was $ 59,000 and it has 29K miles on it. So, doing the math that depreciation on the car from retail to trade-in was $ 46,000. Over 80 months of ownership that comes out to $ 575 a month depreciation. That sounds costly, but when you consider a BMW 7 series new in 2014 that would cost about the same is now worth about $ 28K, the Porsche holds up much better.
BTW, they listed it for sale today. https://www.porschebethesda.com/barg...17b9158498.htm It will be fun to see how fast it sells, they said they expect it to be gone by the end of the week to a new home, there is very little inventory out there both new and used.
FYI, that's a new iPhone 12 Pro Max taking the photo, I can't believe how good the camera is on this new device.
I traded my owned-since-new 991S Cab to Bethesda Porsche (MD) on a a new 992 S Cab. I went up there today to get my HRE Wheels, Tubi Exhaust, Smart Top Module, Titanium Lugnuts, and Clear Front turn signals that were taken off the car (all these are going to be for sale as soon as I can get the ads up). It was really kind of sad to walk into the shop and see my old car there on the lift, undergoing its return to stock configuration and CPO certification. I really enjoyed this car, its a solid, good ride, never in rain and lovingly Swissvax'ed every 6 months since new. I thought to myself "What did I do!" I mean, the 992 is great, but I bonded with my 991 that I owned for 6 years, 9 months. Crap, wish I could afford to keep two - but I can't. The 992 is superb, but it will take time to be one with the car.
Anyways, I did the math on this car - some of you might enjoy this. MSRP (sticker) was $ 114,745 on the car. It sat on their lot for some time since it was a manual transmission and I bought it for $ 105K in March 2014, and it was a CPO car since the warranty had been punched and they included three years free maintenance. Trade in was $ 59,000 and it has 29K miles on it. So, doing the math that depreciation on the car from retail to trade-in was $ 46,000. Over 80 months of ownership that comes out to $ 575 a month depreciation. That sounds costly, but when you consider a BMW 7 series new in 2014 that would cost about the same is now worth about $ 28K, the Porsche holds up much better.
BTW, they listed it for sale today. https://www.porschebethesda.com/barg...17b9158498.htm It will be fun to see how fast it sells, they said they expect it to be gone by the end of the week to a new home, there is very little inventory out there both new and used.
FYI, that's a new iPhone 12 Pro Max taking the photo, I can't believe how good the camera is on this new device.
So the dealers selling price is $14,000 more than what they offered on trade in? That sounds obsessive to me. I would be sick if I took that much of a hit on a trade in. I remember in the old days when the difference between retail and wholesale was about $3k to $4k max.
I have had pretty good luck selling my own cars for way more than wholesale because many buyers are glad to buy from individuals that take care of their cars.
The 2014 991.1S cars seem to be listed at $70,000 pretty consistently for that mileage. I'm surprised that they are selling for that much.
My Current Cars:
2013 911
2015 Boxster
2016 Cayenne
I'm in sales and own a retail store, but dislike selling my own high-end cars to private individuals because of all the crappy experiences I've had doing so. For basic vehicles like a F-150, a Mazda, even an older Audi - it's fine, and I do those myself. For premium cars, it's a different story. Buyers are all so suspicious that they are about to be taken to the cleaners that they are too jumpy to buy the vehicle unless it has been blessed with the Dealer Holy Water.
* "Scan in all the service records and sent them to me. What's your Service Advisors name so I can call him?"
* "Why are you selling it without an extended warranty?"
* "I want a PPI done on it, will you take half a day and go to the dealer - wait around in their lobby while they do it - and then get that to me?" (I'll pay for the PPI).
* "What are the max rev readings and frequency of them from the DME? If you don't know, can you take it somewhere are have the codes pulled?"
* "You do your own oil services and plug changes and belts? Are you factory certified? How do you know you did them correctly, can you prove it?"
* "I have all the wholesale auction prices for the past 6 months and your car is over-priced, how can you justify your asking price?"
And then there is the dreaded test drive. Joe Racer wants to try out the Porsche / BMW / Aston Martin. Not an unreasonable request of course but they get on the road and floor it to redline up to 120 mph with me in the car, then show me what a great driver they are by pretending they know how to corner the thing on a twisty road with their ham-handed moves while I'm praying they don't put us in the ditch. And after the test drive they say "That was great! I'll pay you $ 10,000 less than your ask, that's all its worth to me".
No, it's just easier to get the trade in price, let the dealer bless the car and CPO it, and I'll take the hit. Last Aston Martin I owned I got so tired of dealing with wannabes calling on it with no success over a 60-day period, I wound up selling it back to the local Aston Martin dealer. The irony is that the dealer gave me $ 6,000 more than my price I had it advertised at. He sold it in two days.
They said my 991 that I traded in would be sold in a week, it took them three days. Fast. But whoever bought it will be happy as it has a CPO warranty on it, and it was "gone over" by the dealer (Ha! There was nothing to go over, that car was 100%). So that's why I don't try to sell high end cars myself - only the middling ones. I've owned a lot of pickup trucks, they usually take just 10 minutes to sell.
12-28-2020, 06:37 PM
991.1 S Cabriolet (2014) Depreciation on Trade In
