Car values dropping
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Racer
Joined: Apr 2021
Posts: 333
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Car values dropping
Is it just me or are car values starting to come down? I know the pending recession is causing some hesitation on buyers but I've been seeing all sorts of different (used) cars prices starting to come down. Just wondering if anyone else is seeing that as well?
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Jun 14, 2022, 01:09 PM
Rennlist Member
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From: 91North/75South
Go for a ride in your 991 and smile. The markets gonna do what its gonna do. Be happy you have a seat to sit in.
Rennlist Member
Joined: Nov 2011
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From: San Diego
My impression is that they have definitely stopped climbing and I'm seeing some higher priced (overpriced?) cars not selling as quickly as before. It seems as if things are finally cooling off.
Not sure where things will go from here and don't ask me for data to back this up - I'm casually keeping an eye on things for general interest.
Not sure where things will go from here and don't ask me for data to back this up - I'm casually keeping an eye on things for general interest.
Thread Starter
Racer
Joined: Apr 2021
Posts: 333
Likes: 101
My impression is that they have definitely stopped climbing and I'm seeing some higher priced (overpriced?) cars not selling as quickly as before. It seems as if things are finally cooling off.
Not sure where things will go from here and don't ask me for data to back this up - I'm casually keeping an eye on things for general interest.
Not sure where things will go from here and don't ask me for data to back this up - I'm casually keeping an eye on things for general interest.
Yeah me to. I would like to buy a 996 conv. at some point but I'm not paying (what use to be a $17K car just 20 months go) $30k. Some have drop their asking price to $27k but I think I'll hold out until Q3 and see where the economy is......
Racer
Joined: Aug 2016
Posts: 488
Likes: 516
From: SF Bay Area
Generally speaking if something seems like an absurd bubble, it usually is. Case in point is the $30K 996 Cab.
Since there's overlap in buyers it's worth mentioning that retailers of 2nd hand Rolex are already advertising price reductions.
Since there's overlap in buyers it's worth mentioning that retailers of 2nd hand Rolex are already advertising price reductions.
Pro
Joined: Sep 2020
Posts: 581
Likes: 388
From: Chicago Burbs
can't say i see prices coming down *in general* but do detect stabilization of pricing. it's been a wild ride for almost 2 years now so this was inevitable imho.
what goes up must come down....eventually
Advanced
Joined: Mar 2022
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im reading companies like carvana are in big trouble cause they paid big dollars for used car inventory and now people have hit the point they refuse to pay any higher. So somewhat in line what you guys above said, prices may not be going down (yet) but they seem to have peaked. I would say same goes for housing market, and as interest rates rise, disposable income doesnt go as far so prices should start coming down. How much and how fast/slow is the question. Im guessing its going to be a slow ride down.
I myself and waiting for a 991.2 C4 PDK to come under 100K with the options i want. When i even started to think about it about two years ago, they went for 80K.
I myself and waiting for a 991.2 C4 PDK to come under 100K with the options i want. When i even started to think about it about two years ago, they went for 80K.
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Joined: Jul 2018
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Used 911s at Bay Area dealerships have not been moving for weeks. It looks like there's a standoff between stubbornly high asking prices and unwilling buyers. Only a matter of time before prices start to give.
Last edited by michaelp; May 23, 2022 at 11:31 PM.
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Burning Brakes
Joined: Aug 2018
Posts: 1,114
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From: PA
Seven consecutive weeks of market decline clearly points at investor pessimism, inflation, Ukraine war, Target and Walmart lowering their yearly outcomes, raw materials are hard to find, increase in the price of commodities overall. There's a recession looming, people are pinching their pennies, luxury brands are the first ones to feel it.
Instructor
Joined: Apr 2022
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im reading companies like carvana are in big trouble cause they paid big dollars for used car inventory and now people have hit the point they refuse to pay any higher. So somewhat in line what you guys above said, prices may not be going down (yet) but they seem to have peaked. I would say same goes for housing market, and as interest rates rise, disposable income doesnt go as far so prices should start coming down. How much and how fast/slow is the question. Im guessing its going to be a slow ride down.
I myself and waiting for a 991.2 C4 PDK to come under 100K with the options i want. When i even started to think about it about two years ago, they went for 80K.
I myself and waiting for a 991.2 C4 PDK to come under 100K with the options i want. When i even started to think about it about two years ago, they went for 80K.
