When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
Is this the the part in The Big Short where Dr Burry aka @usctrojanGT3 comes out of his office and writes on the whiteboard how much money he’s losing the firm?
Is this the the part in The Big Short where Dr Burry aka @usctrojanGT3 comes out of his office and writes on the whiteboard how much money he’s losing the firm?
Eventually, my dude is going to be right, right?
He bought credit default swaps on the 992 GT3 back in early 2022. I feel like they have to expire soon
Seems like auctions are already ending at what I was expecting they would be by Q3 of this year. Wondering how close these will actually get to MSRP now. We have seen a few end sub $30K recently.. This is a 2023 model with delivery miles and manual selling for less than $28K over. Since it was just purchased, it has full warranty, wondering when people who are sitting on 2 year old cars are going to realize losing warranty each month should cost something as well. At this stage if a 2023 with 150 miles and manual is going for $28K over, then a 2022 PDK car with 5K-10K miles which are all over autotrader should realistically be close to MSRP, but they are listed for much higher and sitting. I think dealers know this, and are pulling cars off of online listings It doesn't look good when you have had a car listed for 200+ days and prices are dropping on auctions. I have only seen a few examples that I can trace, but it looks like dealers are just selling amongst each other to get out of cars they have held for so long. There is a big difference between the auctions as of late, vs the asking prices of listed cars. This is all for regular non PTS cars, a well optioned PTS car in a good color seems to still command a higher premium.
So much for the "perma-bears" here constantly yapping about a Recession.
The April Unemployment Report this morning showed the economy added 253,000 nonfarm payroll jobs.
The unemployment rate dropped to 3.4%
The lowest level since May 1969.
Hourly earnings rose 0.5% month on month.
Hourly earnings rose 4.4% year on year.
I cant imagine how much $$$ the perma-bears have lost watching their short positions in the market repeatedly blow up on days like today.
Being a broken clock is not a talent.
It's sheer stupidity.
The conversation here is unbelievably dumb. Guys, I know it is shocking, but prices for cars generally trend lower over time. It shouldn't be a surprise that a now 2 year old car is worth less than it was 6 or 12 months ago. You can wait for it to be even cheaper, but then you are buying a 3,4,5 year old car. Great. I can do that today and go out and buy a cheaper 991.2. Or I can wait for ADMs to come down and try to buy a 992.2 in 2 years, but the MSRP has gone up $30k. All the while I am missing out on driving the car I actually want. By the way, if the bears are right, you will be able to buy at MSRP in a couple of years, BUT THEN the prices will be 25% lower than that 2 years on. Nobody is going to win here, we are all getting screwed somehow.
In full disclosure - I bought a Touring with ADM this past December. Love the car and don't give a f about what I paid - just like I don't monitor what my other cars are worth on a daily/monthly basis.
Why did I not wait for a used one at a lower price? I wanted a black exterior (or at least not too flashy), a Touring, manual, and a less flashy interior. Just for giggles, there are 118 GT3s listed on autotrader right now. 15 are black. 3 are Tourings. one has a red interior (no), one is PDK (no), and one looks pretty nice. So out of 118, there is one option for me right now. That's why
. . . Or I can wait for ADMs to come down and try to buy a 992.2 in 2 years, but the MSRP has gone up $30k. All the while I am missing out on driving the car I actually want.
If the 992 GT3 is truly the car that you want, then I wouldnt hesitate to enjoy driving it now.
The massive grip and athleticism of this car is exceptional.
And the double-wishbone is a "game-changer".
The conversation here is unbelievably dumb. Guys, I know it is shocking, but prices for cars generally trend lower over time. It shouldn't be a surprise that a now 2 year old car is worth less than it was 6 or 12 months ago. You can wait for it to be even cheaper, but then you are buying a 3,4,5 year old car. Great. I can do that today and go out and buy a cheaper 991.2. Or I can wait for ADMs to come down and try to buy a 992.2 in 2 years, but the MSRP has gone up $30k. All the while I am missing out on driving the car I actually want. By the way, if the bears are right, you will be able to buy at MSRP in a couple of years, BUT THEN the prices will be 25% lower than that 2 years on. Nobody is going to win here, we are all getting screwed somehow.
In full disclosure - I bought a Touring with ADM this past December. Love the car and don't give a f about what I paid - just like I don't monitor what my other cars are worth on a daily/monthly basis.
Why did I not wait for a used one at a lower price? I wanted a black exterior (or at least not too flashy), a Touring, manual, and a less flashy interior. Just for giggles, there are 118 GT3s listed on autotrader right now. 15 are black. 3 are Tourings. one has a red interior (no), one is PDK (no), and one looks pretty nice. So out of 118, there is one option for me right now. That's why
Thing about 'want' is that it varies in degree from not wanting it all to wanting it very badly - want isn't binary. The more someone wants it, the more they'll generally be willing to pay to get it. Some of us want it, but not enough to pay significant ADM for it.
Yes, Porsche will raise MSRP in the future, but that's mostly because of inflation, and not really a significant price increase in inflation-adjusted dollars (18% CPI inflation in the US over the past 3 years turns $200k into $236k). So if you pay more for a 992.2 GT3 in the future, you didn't really pay more when adjusted for inflation, and you have a newer car.
Owning a physical asset like a car is a way to protect against inflation, but in the long run these cars will likely depreciate a lot relative to inflation, and the money tied up in the car is unavailable for other investments. If the market price of your car stays the same for years, you did lose value when adjusted for inflation.
A lot of the discussion on one side of this thread is people who bought the car trying to repeatedly rationalize why they paid ADM for it. If someone really wants the car badly and NOW, and can easily afford it, then yes, just buy it (or should have bought it) and pay what you have to, and don't try to justify it as a smart financial decision. Just say you bought it and paid what you did because you wanted it. If you really wanted the car and were waiting for the price to drop, the allocations are pretty much all gone, but maybe the price will drop on a used one if the economy slows. Or wait for the 992.2 and meanwhile drive something else.
Thing about 'want' is that it varies in degree from not wanting it all to wanting it very badly - want isn't binary. The more someone wants it, the more they'll generally be willing to pay to get it. Some of us want it, but not enough to pay significant ADM for it.
Yes, Porsche will raise MSRP in the future, but that's mostly because of inflation, and not really a significant price increase in inflation-adjusted dollars (18% CPI inflation in the US over the past 3 years turns $200k into $236k). So if you pay more for a 992.2 GT3 in the future, you didn't really pay more when adjusted for inflation, and you have a newer car.
Owning a physical asset like a car is a way to protect against inflation, but in the long run these cars will likely depreciate a lot relative to inflation, and the money tied up in the car is unavailable for other investments. If the market price of your car stays the same for years, you did lose value when adjusted for inflation.
A lot of the discussion on one side of this thread is people who bought the car trying to repeatedly rationalize why they paid ADM for it. If someone really wants the car badly and NOW, and can easily afford it, then yes, just buy it (or should have bought it) and pay what you have to, and don't try to justify it as a smart financial decision. Just say you bought it and paid what you did because you wanted it. If you really wanted the car and were waiting for the price to drop, the allocations are pretty much all gone, but maybe the price will drop on a used one if the economy slows. Or wait for the 992.2 and meanwhile drive something else.
Hey pot, meet kettle.
You have made quite a few posts trying to justify why you DIDN'T buy a GT3 but settled on a used TTS instead. Just say you bought another car even though you really wanted a GT3 and don’t try to justify how your TTS is so much better of a road and track car than a GT3. Isn’t that the same thing you just said?
05-03-2023, 09:31 PM
