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I/m going to screenshot your comment for later use, thank you for your contribution.
Prices from suppliers for our flooring store have been increasing every month this year, and continue to do so. Those price increases will be continuing all through next year. It's not one company, its the entire economy.
my in n out order went from $6.66 to $9.84. Are you really going to stand there and tell me inflation isnt real and continuing to get worse?
I concede (and conceded in my earlier post) that inflation is real and that it needs to be dealt with. So we agree on that. But you're talking about an entirely different dystopian event. That won't happen. You can tell me I'm wrong in two years, when your rent is $300,000 per month, and that In N Out meal that cost you just under $10 will fetch $2500.
I concede (and conceded in my earlier post) that inflation is real and that it needs to be dealt with. So we agree on that. But you're talking about an entirely different dystopian event. That won't happen. You can tell me I'm wrong in two years, when your rent is $300,000 per month, and that In N Out meal that cost you just under $10 will fetch $2500.
The problem with inflation is not inflation itself, its the acceleration and continued acceleration of inflation (therefore inflation is not only real & needs to be dealt with but also that it is getting worse while nothing is done)
Thankfully I don't pay rent, and already have land to build my racetrack on, but I hope my order at in n out stays under $2500 until 2029 or so
Jokes and hyperbole aside I didn't mean that it would get so bad so quickly, but that the advent of hyperinflation is coming if the current course is maintained. Since this is a thread about depreciation, inflation matters because it directly counteracts the impacts of depreciation. As long as the US dollar continues to lose value shouldn't car prices remain relatively stable or possibly appreciate? If they didn't, you would not only be losing value from depreciation but also by being unable to take advantage of inflation, a la real estate or etc.
Last edited by harshalp; Oct 21, 2021 at 03:53 PM.
in 2020 December I decided inflation would get ridiculous this year and bought an inflation proofed 992. It has worked out well for me, and I am happy.
This thread is a bit dead, and I took s break from rennlist, but what is already dead can't actually die again from what I'm told! So here I am to beat this dead horse once again...
How do you all feel about inflation and its ability to counteract depreciation? Some people were not fans of my comments regarding inflation previously, wondering if your opinions have changed recently?
PS: my in n out meal is sadly now above $10.50, though it makes sense since they are now hiring cashiers at $18 an hour, up from $14 at start of the year (there is a big sign on the window)
Last edited by harshalp; Nov 12, 2021 at 02:46 AM.
You are going to get KILLED on depreciation. There is no if's, and's or but's about it.
When I bought my 997 Turbo for MSRP in 2007, it was about $130k after taxes.
I sold it for $79,000 with 11k miles in 2013. That's a $50,000 depreciation. And the car was super clean and well sold at the time.
So, if you buy a 911 and pay a $15,000 premium, you are probably looking at a $65,000 depreciation.
The saving grace to this story is that I bought a new, 2012, R8 V10 6MT to replace the 997 Turbo. MSRP was $180k. Bought it for $140k from a dealer. It's now worth about $180k and I've owned it for 10 years. So what I lost on the Turbo, I made up for on the R8.
There are ways to get around this depreciation. KEEP THE CAR! I've owned my 993 C2S since 2001. I paid $50k for it. It's now worth $180k!!!! Or wait until the market corrects and buy someone else's depreciated 911 with low miles.
But if you want it now, you're gonna pay for it.
Yes that Turbo would be worth more that $80k today. I sold my 997 in May and likely could have kept it for more appreciation, both the financial, and enjoyment, however, it would have meant paying for secure storage as I don't have room in my garage for it. Would it have made sense to spend $2k a year to store it, plus minimum coverage, etc. in the hope that over some period I make at least that from today's values. My only regret is not buying several vehicles of this sort in 2020 with available funds and watching them go up in value. Got to hate it when your crystal ball doesn't work.
Yes that Turbo would be worth more that $80k today. I sold my 997 in May and likely could have kept it for more appreciation, both the financial, and enjoyment, however, it would have meant paying for secure storage as I don't have room in my garage for it. Would it have made sense to spend $2k a year to store it, plus minimum coverage, etc. in the hope that over some period I make at least that from today's values. My only regret is not buying several vehicles of this sort in 2020 with available funds and watching them go up in value. Got to hate it when your crystal ball doesn't work.
I will say, there were several (used, few years old) cars I wanted to buy last year which have appreciated in value this year far more than my 992 has, and instead I bought my new car and skipped the whole buying/selling cars ordeal. If I could do it again, I would have bought the used cars first. Lesson for the future 👍🏽 Buy used but good condition, resell to others for more than I paid with minimal effort, and then buy new instead of buying new first. Its not like anyone but Tesla has the ***** to raise MSRP by $1000 every few weeks to combat inflation, so MSRP will always lag behind inflation
Last edited by harshalp; Nov 12, 2021 at 03:18 AM.
I feel very fortunate. I ordered my first 911 in May 2020 with an 8% discount. It was one of the first 2021s off the line. I have no intention of selling it, but the fact it has gone up in value gives me bragging rights with the wife…. Buy a car you will love to drive, life is short.
As a serial classic car collector looking at second hand 911s in 2019, I had already noticed that that modern 911s (almost all of them) hold their value very well. This is because people like them i assumed. This is because they are very good cars. Simple.
People love the 911 as much as they like my ancient Jags I have now come to realise.
If I am driving one of our other "normal" cars, I do not get let out at junctions. Cars tailgate, I get no respect. In the 992, they all want to look and stare and they hold back. (There are not many 992s around here).
The kids love it, the wannabe gangsters love it in their old German junk, the ladies love it because it is a very pretty car, the old gents love it because they used to have one. It brightens up everyone's day.
At the time of my purchase a second hand, out of warranty cheapish 991.2 at 4 years old was still £65k. So I thought, why not just buy a new one? After all Porsche want me to. I want one and a new one is only £20k more. How bad can it be?
Over 2 years most of the posh cars I have owned have lost 40-50% of the purchase price in depreciation.
Even if this was the case, and my 992 was now only worth £50k, Without doubt the 992 is the best car I have ever owned. I would still recommend it for the real driver and enthusiast.
Especially when it is also I car I use EVERYDAY. For Fun. Yes!
It makes you good to be alive! The only car I would replace it for would be another one.
The fact it is worth the same now as when I purchased it after 2 years and 25,000 miles is academic. I did expect it to retain most of its value, just not all of it. I do realise "we live in strange times" etc.
Just as an example, my brother was following me in his car yesterday for a few miles to the company car park. He has a quick BMW 435 coupe. It is nothing speed wise compared to the 992 of course.
The first thing he said to me was the amount of people who stopped and stared and gave thumbs up at the 992 as we drove through the city. I hadn't noticed.
The 992 is a good looking car. Its all good as far as I am concerned.
As a serial classic car collector looking at second hand 911s in 2019, I had already noticed that that modern 911s (almost all of them) hold their value very well. This is because people like them i assumed. This is because they are very good cars. Simple.
People love the 911 as much as they like my ancient Jags I have now come to realise.
If I am driving one of our other "normal" cars, I do not get let out at junctions. Cars tailgate, I get no respect. In the 992, they all want to look and stare and they hold back. (There are not many 992s around here).
The kids love it, the wannabe gangsters love it in their old German junk, the ladies love it because it is a very pretty car, the old gents love it because they used to have one. It brightens up everyone's day.
At the time of my purchase a second hand, out of warranty cheapish 991.2 at 4 years old was still £65k. So I thought, why not just buy a new one? After all Porsche want me to. I want one and a new one is only £20k more. How bad can it be?
Over 2 years most of the posh cars I have owned have lost 40-50% of the purchase price in depreciation.
Even if this was the case, and my 992 was now only worth £50k, Without doubt the 992 is the best car I have ever owned. I would still recommend it for the real driver and enthusiast.
Especially when it is also I car I use EVERYDAY. For Fun. Yes!
It makes you good to be alive! The only car I would replace it for would be another one.
The fact it is worth the same now as when I purchased it after 2 years and 25,000 miles is academic. I did expect it to retain most of its value, just not all of it. I do realise "we live in strange times" etc.
Just as an example, my brother was following me in his car yesterday for a few miles to the company car park. He has a quick BMW 435 coupe. It is nothing speed wise compared to the 992 of course.
The first thing he said to me was the amount of people who stopped and stared and gave thumbs up at the 992 as we drove through the city. I hadn't noticed.
The 992 is a good looking car. Its all good as far as I am concerned.
Happy birthday to your 911 🥳
My car will be 1 year old next month! Like you the only thing I would ever replace it with at this point is another 992, and more than likely I will end up buying more 992.1/2s (but in different body styles) in the future as opposed to actually selling my car for another. I'm restraining myself to stay within 7500 miles/year for extended warranty considerations, but a 2nd 992 would surely help me spread the miles around😎
Love the dirt on your car, looks good and adds a lot of character to your car, super clean cars make me wonder if they are even driven haha
Last edited by harshalp; Nov 12, 2021 at 04:38 PM.
