TangoUniform

Yeah we're not seeing 2019 prices yet, but it looks like the days of buying a used 991.2 over MSRP might be in the past.

Oileater

The car market has been crazy, but I’ve really enjoyed driving my 991’s during COVID.

For many people, the premium pricing was just a fact of life. But no regrets here.

I do hope normality returns to the car markets as they are unnecessarily driving inflation.

Game0n

This story just came across the tape:

EVs Now Average Over $60,000 as Tesla, Rivian, Ford Raise Prices
The average price of an EV reached $60,984 last month, well above the $46,634 mark for the overall market, according to automotive researcher

daveyator

Well, I listed my 2017 991.2 GTS cabriolet on fleaBay for what I thought was the ridiculous price of $116k with no takers. At the end of March 2 dealer’s would’ve given $120k. Keep in mind I’m the king of buy high and sell low.

Graufuchs

You too?

Ed99

That just means you are more a reactive person than a proactive person!!! Like to follow the trend at its near end cycle. I am sure a lot of us are like that lol!!!

TimboCarrera

The question I've had since the beginning of the higher sale price is what to do with the bucks. If you need cash to eat or for an emergency then let it go but what is a good investment with the everything crash dialogue that never goes away. I can't see replacing for less cash down the road. Another thing to consider is having any running vehicle even my 911 to be pressed into daily use if other vehicles break. On the truck forum I frequent there are those waiting on parts for vehicles under warranty for months. I don't care to bike or walk in 100 degrees. A bird in the hand. I've never had a vehicle this reliable and great gas mileage if needed like a situation where gas is not available or scarce. The USA is starting to look like Cuba. ok not yet but trending.

Graufuchs

Truth be told, I "downgraded" my daily driver from a 2021 Audi A6 Allroad to a lightly used 2019 XC60 R-Design and did ok on the trade in. 61K for trade-in, paid 72K 18 months ago. In Audi land that's pretty decent. The Volvo is much lighter on the wallet and fits Dad duty much better.

That is in preparation for another 911. So it was proactive....but 2yrs too late to get a good deal on the 911, whatever it may be...991.2, 997 Aero or a new base 992 (supposedly 2 names away on list). My current 911 isn't going anywhere.

I do believe that with the market/crypto flop and inflation prices will drop, will it be drastic, no, but prices will level out and decrease slightly going forward (this fall).

Bud Taylor

Have plan A, B and C. Once enacted, plan C means you will be the only guy at the party still smiling.

CAA

I may be off but this topic is likely of more interest to those looking for a car. I’m not buying or selling so price fluctuations aren’t really relevant to me.

I also don’t understand how a couple point movement in rates will cause values to crater. Do people really take $100k loans out to buy these cars? I mean, what’s the difference on a monthly loan payment at that delta? $70? $100??

jfischet

i think the 911 falls into the 'luxury items' category and those prices may stabilize but they are not going to drop significantly into 'great deal' territory.

so if you are looking for a specific spec and you find it, i wouldn't sit around waiting for the seller to drop the price.

duxsi

Perhaps prices aren't dropping..
https://bringatrailer.com/listing/20...rrera-s-coupe/
With the same car sitting in my garage (that I just don't drive), original owner, 2012, 7-sp manual w/ 24k miles and sports chrono / exhaust etc, perhaps it's time to send her to a home where she'll receive the attention she deserves??

LesPaul

Nice car! Manual with that exhaust = a lot of fun!! Someone got a nice car!

996scott

$89K for that car shows the market is slowing. I've been watching/looking for 8 months for a car exactly like this one. 6 months ago that car would be listed at $100K at any dealer with low miles and that exhaust. Yes, there is a $4K fee to add on but imo this car shows things a slowing slightly. Not a lot, but slightly.

Freddie Two Bs

It's not so much the direct impact of the loan cost, more the overall pieces of the wealth effect, such as:

1) One factor propping up stock prices in the past many years was buybacks. Companies used to issue a lot of debt to raise cash to do buybacks. Higher rates and wider spreads -> more expensive buybacks -> less buybacks -> less heroin in the veins of the stock market -> lower returns -> people's wealth grows less (from taxable accounts to RSUs to 401k to 529s) -> they spend less on discretionary items

2) A big component of the wealth effect is tied to real estate prices. Higher mortgage rates -> fewer people affording a mortgage for the same dollar notional -> fewer buyers for the same house -> house prices adjust to lower demand -> home equity for homeowners goes down -> people are less rich and do realize it and tap the brakes on discretionary spending. You bought your house for $1m 5 years ago, you mentally marked it up to $1.5m at the end of last year, if you have to mentally mark it down to $1.3m maybe you go "I'll keep my old Porsche another year and then we'll see".

2) Zero interest rates for many years meant too much cash looking for a home, which fostered the growth of the whole crypto ecosystem and led to a huge misallocation of capital such as many so-called "unicorns" which will never turn a profit in their life. Money is more scarce -> money is allocated more efficiently -> less never-profitable "unicorns" being created and propped up. Also, dollar money gets more valuable -> people demand more crypto units for the same dollars -> less cash being converted to crypto -> crypto prices correct -> people who bought during most of the runup lose money and spend less, particularly on discretionary items