993TT sold .....(addition to the "what price" topic)
12-25-2002, 02:42 PM
#1
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993TT sold .....(addition to the "what price" topic)
I Sold my 1996 Midnight Blue/Black 993TT last week. I hated to see the car go, but it seemed the right thing for me to do... I can always buy another..
For those interested where is the info about the car and sale.
-1996 (5/95 production) 993TT
-GOOD Condition as I would judge.
-56,000 miles
-Repainted front bumper, hood and mirrors a year ago and now with a few chips.
-right turbo and lines replaced earlier this month, along with reseated valve covers for oil leaks (under Pre-owned warranty covered)
Turbo Boost still .4 max (See story below)
Interior is good shape. Leather shrinkage above gauge and rear deck, usual driver's bolster leather cracks and no ripes nor "non-wear" damage.
OPTIONS: Heated seats, carbon shifter (from Gert)new red seat belts, and in dash CD
New Rear tires: SO2's with maybe 1000 miles
Traffic Pro and Carbon/leather steering wheel were not part of the deal, removed.
WHY DID I SELL? I have to say the 993 Turbo is the most fun car I have owned, and enjoyed every minute with it. With that said here is my logic.
I have moved and to title the car in the new state, Kentucky, will require payment of roughly $4000+. They do not recognize "trade in's" as credit so I would have to pay the tax on the full sale price or VALUE of the car, and with their records far behind "market" makes me have to pay $4000+ (6.5% sales tax). Plue KY has personal property tax.
The car needs a new clutch, which was found to be slipping at high loads, and GET THIS.. Thus the car was unable to obatin full boost! HUH?? WHAT? Ok, I only used this place since they were the dealer and thus to have it covered under the warrant.. If I was paying, NO WAY would I go there... boost issue is still unsolved. New Clutch: $2000
The 60K service is due soon... $1000
The suspension is worn, need new shocks. $1000 min, but I would have installed PSS-9 so ~$4000 for parts labor and alignment
THUS: $4000+ $2000 + $1000 + $4000 = $11,000
And this did not include a "fix" for low boost, or other upgrades I would like, GT3 seats..
Cost for one year ownership (12/14/01- 12/20/02):
$70,350 TOTAL purchase (tax/lic/registations)
$950 year of insurance
$600 New rear tires
$120 brake pads (all 4 calipers)
$1000 gasoline (15mpg, 10K miles, $1.50/gal)
$25 5 quarts of Mobil 1
$300 Carbon Shifter
$500 Red seat belts
$150 New headlight lenses
-$55,000 selling price
________________________
$18,095 or $1,508/month
Includes two Driver's Ed events. and daily driving...
Some may be asking WHY?? Yes, I took a loss, as All of you would/will, as these cars continue a downward price curve. I will not be driving it for the next 3 wintermonths, while the price goes down, so best not to own a depreciating "asset". I did place a deposit for a GT3 ...
Porsches I have owned: '97 Boxster, '98 Boxster, 2000 Millennium 911, and '96 911 Turbo..
Sum it up... Great Car, GREAT FUN.. Time to see if there is another flavor of Porsche to try....
<a href="http://www.johnfelker.com/993tt/pics/turbopics.html" target="_blank">Pictures of my Turbo </a>
Signed,
"Porscheless in the Bluegrass"
PS: Do I have to resign my PCA membership
For those interested where is the info about the car and sale.
-1996 (5/95 production) 993TT
-GOOD Condition as I would judge.
-56,000 miles
-Repainted front bumper, hood and mirrors a year ago and now with a few chips.
-right turbo and lines replaced earlier this month, along with reseated valve covers for oil leaks (under Pre-owned warranty covered)
Turbo Boost still .4 max (See story below)
Interior is good shape. Leather shrinkage above gauge and rear deck, usual driver's bolster leather cracks and no ripes nor "non-wear" damage.
OPTIONS: Heated seats, carbon shifter (from Gert)new red seat belts, and in dash CD
New Rear tires: SO2's with maybe 1000 miles
Traffic Pro and Carbon/leather steering wheel were not part of the deal, removed.
WHY DID I SELL? I have to say the 993 Turbo is the most fun car I have owned, and enjoyed every minute with it. With that said here is my logic.
I have moved and to title the car in the new state, Kentucky, will require payment of roughly $4000+. They do not recognize "trade in's" as credit so I would have to pay the tax on the full sale price or VALUE of the car, and with their records far behind "market" makes me have to pay $4000+ (6.5% sales tax). Plue KY has personal property tax.
The car needs a new clutch, which was found to be slipping at high loads, and GET THIS.. Thus the car was unable to obatin full boost! HUH?? WHAT? Ok, I only used this place since they were the dealer and thus to have it covered under the warrant.. If I was paying, NO WAY would I go there... boost issue is still unsolved. New Clutch: $2000
The 60K service is due soon... $1000
The suspension is worn, need new shocks. $1000 min, but I would have installed PSS-9 so ~$4000 for parts labor and alignment
THUS: $4000+ $2000 + $1000 + $4000 = $11,000
And this did not include a "fix" for low boost, or other upgrades I would like, GT3 seats..
Cost for one year ownership (12/14/01- 12/20/02):
$70,350 TOTAL purchase (tax/lic/registations)
$950 year of insurance
$600 New rear tires
$120 brake pads (all 4 calipers)
$1000 gasoline (15mpg, 10K miles, $1.50/gal)
$25 5 quarts of Mobil 1
$300 Carbon Shifter
$500 Red seat belts
$150 New headlight lenses
-$55,000 selling price
________________________
$18,095 or $1,508/month
Includes two Driver's Ed events. and daily driving...
Some may be asking WHY?? Yes, I took a loss, as All of you would/will, as these cars continue a downward price curve. I will not be driving it for the next 3 wintermonths, while the price goes down, so best not to own a depreciating "asset". I did place a deposit for a GT3 ...
Porsches I have owned: '97 Boxster, '98 Boxster, 2000 Millennium 911, and '96 911 Turbo..
Sum it up... Great Car, GREAT FUN.. Time to see if there is another flavor of Porsche to try....
<a href="http://www.johnfelker.com/993tt/pics/turbopics.html" target="_blank">Pictures of my Turbo </a>
Signed,
"Porscheless in the Bluegrass"
PS: Do I have to resign my PCA membership
12-25-2002, 09:32 PM
#2
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John,
I feel your pain, got burned on a very nice looking Porsche that turned out to be a lemon years ago.
I'm having trouble distinguishing whether this one of yours could be a 'lemon' trouble car from the outset or perhaps is what could be expected from a high mileage turbo, caveat emptor, PPI notwithstanding.
I dont ascribe to the convention that these cars are bullet proof and like a fine wine, get better with age. My bias is that any car over 50K miles is in the Medicare of its life. Everything ages, everything dies.
Better luck next time.
I feel your pain, got burned on a very nice looking Porsche that turned out to be a lemon years ago.
I'm having trouble distinguishing whether this one of yours could be a 'lemon' trouble car from the outset or perhaps is what could be expected from a high mileage turbo, caveat emptor, PPI notwithstanding.
I dont ascribe to the convention that these cars are bullet proof and like a fine wine, get better with age. My bias is that any car over 50K miles is in the Medicare of its life. Everything ages, everything dies.
Better luck next time.
12-26-2002, 12:16 PM
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Thanks for your post. It was very refreshingly honest. As the owner of a depreciating asset for the last year, I sometimes get twinges of doubt. But, since it's my daily driver I've become more and more involved and emotionally attached to it as I strive to increase my driving skills to get closer to its extreme capabilities.
12-26-2002, 03:36 PM
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I just want to weigh in here on the life of a car in general, and the life of a Porsche that is well-consructed in particular.
I am driving a 88 928 with 104k miles on it. I put 10k on a year. This year, I have a very high repair cost b/c the last owner neglected a few things. I did a timing belt, rotors, plugs etc. A bunch of things that are not yearly items. I spent $6k this year in repairs. That said, I still think I'll do 3-4K next year.
The 911 engine is a wonderful peice of work. IMO, the weak links are not the engine, but the externals--remember, turbos are an external. Do a leak down/ do a compression test on that car and I bet its probably ok. A properly maintained high quality car (read 993 and earlier) can last a lifetime. Its just a question of how much $ is reasonable to invest to keep it rolling year after year. In my opinion 3-5K to keep my 928 rolling is ok. Where else am I going to get a 320HP 320tq porsche for $3-$5k a year?? (assuming a depreciation of about $500 a year now--I bought the car for 16,500--it is not going much lower than that).
A 55K 993 TT is a similar purchase, its getting close to 1/2 original cost and yearly depreciation is going to flatten out heavily very soon.
I am driving a 88 928 with 104k miles on it. I put 10k on a year. This year, I have a very high repair cost b/c the last owner neglected a few things. I did a timing belt, rotors, plugs etc. A bunch of things that are not yearly items. I spent $6k this year in repairs. That said, I still think I'll do 3-4K next year.
The 911 engine is a wonderful peice of work. IMO, the weak links are not the engine, but the externals--remember, turbos are an external. Do a leak down/ do a compression test on that car and I bet its probably ok. A properly maintained high quality car (read 993 and earlier) can last a lifetime. Its just a question of how much $ is reasonable to invest to keep it rolling year after year. In my opinion 3-5K to keep my 928 rolling is ok. Where else am I going to get a 320HP 320tq porsche for $3-$5k a year?? (assuming a depreciation of about $500 a year now--I bought the car for 16,500--it is not going much lower than that).
A 55K 993 TT is a similar purchase, its getting close to 1/2 original cost and yearly depreciation is going to flatten out heavily very soon.
