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Went to my local Porsche dealer today to test drive the Taycan 4s. Holy technology! Holy acceleration!! A nice time with my son and the dealership give me a cool Taycan paperweight as a gift! Which, of course, I gave to my son.
Anyway, the sales representative said he could get me pretty close to sticker price ($168K) on my, 3,800 mile 2017 Targa GTS. He explained that they have a waiting list of about 20 people for the 992 targa and they would immediately purchase my Targa. I asked what could I possibly replace it with? And the very polite salesman literally said "that is the problem."
As we all know, just about every late model sports car has recently gone up in value the same percentage. So selling now at these very high prices is if you want to upgrade will actually cost you more than it did a year ago. Only worth selling if one thinks the market will drop, you consider your car an investment, and you are are willing to wait for the market to "correct, " which is certainly a crapshoot.
I don't purchase my cars as investments though. Just to enjoy!!
I feel the same way. I narrowed it down to the only vehicles I would consider moving downmarket for:
- Golf R (fun car but wife hates the look, I don't like the touchscreen madness of the new cars)
- 2022 Civic Type-R (loved the current one - wife doesn't like haha, a blast to drive, and would only consider the new one if they made it less boy-racer look)
- Audi S5 Sportback (good deals can be found on these, but they are a little boring coming from a 911)
- new Bronco (one year wait even after they start deliveries, will be everywhere)
- Cayman S n/a engine (the pricing has gone up on these as well...)
- Maybe one of these new RC cars if I completely give up on driving excitement and just want an appliance to take me places (i.e. Tesla, Hyundai, etc.)
Hah!
Interesting list. I amuse myself by thinking about this as well, and we have 3 of the same cars.
A used Golf could be fun...I actually clicked on one locally to me to look it over. It had an autobox which wasn't of interest to me. But I've always liked them. I was noodling on new Audi coupes and quite like the look of them, ESPECIALLY compared to the bucky beaver grille treatment BMW has gotten lambasted for lately (and up thread, so I don't want to beat a dead horse). And a Cayman...yeah I saw where there's one near me, but a '21 model, S, at around $80K...but having had a Cayman, I don't want to go back to the limited interior space. And not to rag on the 718, or the T engine, which I am sure is great, but as to the styling, I lost track of how many people came up to me when I owned my 981S and said something like "Wow! Cool car..what is it!?".
Definitely agree on the Honda Civic styling...they look ridiculous...but they aren't making them to appeal to aging boomers like me I suppose...
I would state the OTHER HALF of the story but won't for obvious reasons.........
So about that, I don't think there's a problem in mentioning inflation in a discussion around used car pricing? It's only an issue when someone goes down the rabbit hole by attaching politics, which is nothing new on RL. Fwiw, I appreciate your inputs here.
As my degrees are in English and Communication Studies, I won't pretend to be qualified to crystal ball what's going on in macroeconomics. So let's go back to this:
Originally Posted by stout
Stage for all this was set on the supply side a year ago…
Now add a stock market that's booming, a housing market that's booming, more time & more discretionary income over a long period due to all sorts of limitations, YOLO not seen since the early or mid 1900s, and continued car factory/supply chain closures. The industry never caught up.
Now add a chip shortage. And all of the other factors above kept going.
So should we be surprised that prices for one of the most desirable cars of all time are strong? But it isn't just 911s, it's all cars. And, as some noted, pickup prices are wild or even wilder, as the industries/people who need them have done very well over the last 12 months. I suspect the price of raw materials will cut into used truck prices at some point, and things will balance out.
Originally Posted by desmotesta
…most of these resale values a moot point is that most replacements are far more expensive than they have ever been.
It doesn't matter that 991.1 or 991.2 are going for record breaking trade-in and resale values, when any lateral or comparable model is also far more expensive than it ever was. Instead of looking at Dollar numbers, lets look at percentages, and we might be surprised that not much has changes in that aspect.
Precisely.
Generally speaking, I avoid "price threads." But this one fascinates me because I'm never surprised by wacky used GT3/GT2 prices but am blown away by used Carrera pricing right now. As far as I can remember, such resale values for "normal" 911s are unprecedented. When I ordered a 2016 GT4, I knew there was a decent chance I'd be okay on the other side. And, looking back, the cost of those 14,000 miles seem like good value. I didn't get into a 991.2 Carrera expecting anything other than the usual (and significant) depreciation. My lease buyout is $70k~ for a 991.2 Carrera 7MT with 21,000 miles and PTS, PCCB, heated sport seats, GT wheel, nose-lift, Bose, etc. It's a no-brainer, even against a 10-16yo 997 (or an even older 996!), though I'm not going into this expecting current values to hold. I just like the car, and wouldn't sell it right now for 95, 105, or more. "What else?" is definitely part of that. Effective price jumps of $20-40k mean a 992 7MT lease is out, even if I could get one in time, and a need for back seats rules out a GTS 4.0.
I suspect I'm not alone among people who leased 991s between 2017 and 2019, as we're seeing something of a wild exception to the "leasing is always a bad idea" rule. If I was looking for a used 991 (or, for that matter, a 996 and 997), I definitely wouldn't be buying right now. But there are still deals out there—one just has to look where others aren't. And I'd be looking for a great used Boxster or Cayman to enjoy for a while in the meantime.
The world is all sorts of crazy right now. Last week I was offered a straight trade for my Carrera T on a new Taycan 4s with an MSRP at ~$125K. I was also offered *more* than I paid for my CPO Cayenne 2.5 years ago.
But if you thought that was nuts...I have a nice Martin acoustic guitar that my dear wife gave me for my 40th birthday. It was a rare guitar when we bought it, for about $6K - but something I'd been after for 20 years and had just never found "the one". I had it sent to Martin for some minor repairs this winter, and I just got it back this week. When I took it into my guy for setup he joked with me that he might need special insurance to work on it...in todays market they are trading over $15K and edging to $20K. For a guitar (not vintage). That is just bonkers.
I think Bob misunderstood my comment - I loved the styling on my 981S. In fact, it was probably because as a ute I lusted after a 904. In middle school, back in the Dark Ages, I would doodle fast-back Porsche's in my notebook when I was supposed to be working math problems. Honestly, there is something about that Butzi Porsche design that just works for me...(picture not mine):
...but this picture IS mine. I did love that car. It was just a feature of ownership that people would walk up to me and say "Nice Ferrari!", like at this gas station.
Last edited by Rich_Jenkins; 06-05-2021 at 02:17 PM.
I think Bob misunderstood my comment - I loved the styling on my 981S. In fact, it was probably because as a ute I lusted after a 904. In middle school, back in the Dark Ages, I would doodle fast-back Porsche's in my notebook when I was supposed to be working math problems. Honestly, there is something about that Butzi Porsche design that just works for me...(picture not mine):
...but this picture IS mine. I did love that car. It was just a feature of ownership that people would walk up to me and say "Nice Ferrari!", like at this gas station.
Always been a fan of both the 987 and 981 styling (still own a 987). GT4 takes it to another level.. but comparing it to the timeless design on 911 is pretty ridiculous. GT4 is a track tool for those who cant/won't get their hands on a GT3/GT3RS. No question about the mid-engined layout and its benefits, The GT4 add-ons make it look far more aggressive and macho than its younger cousin, but lets keep things in perspective.
Not sure this market is as nuts as we all say it is. I lost my mind for a few weeks and listed my excellent condition GTS for sale. I'm not going to get into numbers or details and yes I'm keeping her. You'll have to take my word for it my car doesn't have any issues at all that would make it a difficult sell and I listed it at the bottom quarter of asking prices. Over two weeks I got exactly 2 emails which I responded to and that's it. I know you all are being factual but I just don't see the extreme demand and there seem to be a ton of them for sale.
I don’t think prices are that crazy either. I just traded my 2017 AMG GTS with 24k miles and 1 year M-B CPO warranty remaining for a very well spec’d 2019 Carrera S. I was out the door for $107.5k. The Carrera was a VERY late model year sale, 5/30/2020 in service date and it came with a 2 year Porsche CPO. Car originally sticker for $137k and some change. Oh, and it only had 5460 miles on it.
To me, this was a very fair and good deal. I shared the price to qualify the purchase, I hope this might help anyone in the market gauge prices. I’m in Palm Beach County on the east coast and I bought my car from Ft. Myers Porsche in Lee County on the west coast of Florida.
I don’t think prices are that crazy either. I just traded my 2017 AMG GTS with 24k miles and 1 year M-B CPO warranty remaining for a very well spec’d 2019 Carrera S. I was out the door for $107.5k. The Carrera was a VERY late model year sale, 5/30/2020 in service date and it came with a 2 year Porsche CPO. Car originally sticker for $137k and some change. Oh, and it only had 5460 miles on it.
Just for clarification, the $107K OTD... Was that before or after your GTS trade equity?
Reason I ask is I've been scouring sites daily for a while and have not seen a 2019 with that low mileage for anywhere near that kind of price. What was their asking price btw?
06-04-2021, 06:07 PM
