Sell or not?
#1
Sell or not?
So my friend is an owner of an exotic dealership here in South Florida. He told me with the release of the 991.2 and being that it's totally a different car that the value of the 991 will drop by probably 20%. Is this something I should be concerned with? I really do not want to take a hit. The warranty on my car is up in two years. I have a balloon on my car into years of 57,000. Based on the math from prior 997 when I was four years old it wasn't below that figure. Any thoughts?
#2
Burning Brakes
I wouldn't put too much stock into your friend's predictions.
Sentiment here tends to run the other way. Lots of complaints about moving away from NA engines. That's overblown, too.
In any case, I'd never sell a car I was enjoying driving based on fears about resale value.
Sentiment here tends to run the other way. Lots of complaints about moving away from NA engines. That's overblown, too.
In any case, I'd never sell a car I was enjoying driving based on fears about resale value.
#3
Rennlist Member
May I ask what car he wants you to buy?
#7
Race Director
Originally Posted by todd92
1) It's not a totally new car.
2) No car drops 20% overnight because a new model is released.
3) Your 'friend' sounds dishonest.
2) No car drops 20% overnight because a new model is released.
3) Your 'friend' sounds dishonest.
The weed in FL must be pretty good.
If anything, look at the used 991.1 market. Been holding strong with "deals" hard to come by.
FYI. ALL cars will be subject to depreciation. Expect the norm on the 991.1
Your car has taken big hit as is. No big "drops" in sight. Just slow steady deprecation. You're in a good spot now with it having slowed down considerably.
Sell and buy what?? Another car that will still depreciate??
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#8
Rennlist Member
Take your car for a drive, give her (him, NTTATWWT) a name, and talk to her. Wash her, wax her, and go visit her in the garage before bed time each night. Make that bond, and the pain of depreciation fades from memory.
#9
Nordschleife Master
What Roosell sez.
If you are worried about depreciation, Porsche 991 should not have been the car to buy.
If you are worried about depreciation, Porsche 991 should not have been the car to buy.
#10
Rennlist Member
Did it cross your mind that your "friend" simply wants to scare you so you sell him your car (or some other sale method) so he makes money?? Can't imagine you missed that.
#12
No disrespect to your friend but the last place I would ever buy a car from would be an "exotic" car dealer in south Florida. There is a tv show on one of the cable channels that showcases a guy and his blond put together wife that epitomizes a south Florida car dealer in my opinion. There are more concrete opinions from real world Porsche guys on this forum than any other source and these guys have no agenda.
#14
Your car has already depreciated 20%+. The .2 will have no impact, positively or negatively, on the value of your car. Your friend is a dope.
#15
Rennlist Member
Typically a new model (or refresh) always slightly increases depreciation on existing models, HOWEVER it's priced into the depreciation curve already as the refresh cycles are well known and banks are good at setting residuals to manage risk.
There is undoubtedly a lot of FUD that will cause people to react and create near term cavitation, but the 991.2 is not going to impact the value of your car in any unpredictable way.
I'd call bull**** on your buddy.
There is undoubtedly a lot of FUD that will cause people to react and create near term cavitation, but the 991.2 is not going to impact the value of your car in any unpredictable way.
I'd call bull**** on your buddy.