993cabfan

Despite my "handle", I've decided that a 996 Cab is more for me than a 993 Cab. I love the look of the 993, but prefer the interior and cab top operation of the 996 - it definately looks more sleek than the 993 Cab also.

So, that being said - I was going to buy a 99 or 00 Cab, which I can more or less afford. However, after doing my research on this forum, I've decided that it's worth holding out for the 02 cab: glass instead of plastic for rear window, updated front end, and 20 extra HP.

Here's the problem - I can't afford an 02, at least not right now. If what I've read about the 997 coming out in September is true, what will that do to 996 prices? If many 996 owners will trade theirs in for a 997, then can we expect to see late model 996s decrease in value more quickly?

Just looking for some informed opinions. Thanks.

Palting

IMHO, the price drop between Porsche models is not as large a drop as you would see in lower priced cars like Chevy or Ford. The prices drop as the car gets older. The largest price drop is between a new car vs a 1 year old car. The price diff between, say, a new 2004 996 vs a used 2002 996 in 2004 will probably be the same as the price diff between a new 2005(?) 997 vs a used 2003 996 in 2005.

safetywork

Gosh I hope prices don't get any lower..... its already pretty low. But then its like stocks, if you don't sell.... it won't hurt. Oops, I guess that's why I'm errr currently financially challenged.

docjackson1

996 prices haven't been strong-a new model won't help. i am not sure, though, that the 997 will come out this year. the best advice is buy the newest one that you can afford.

redcab

A car you drive is a depreciating asset.
Why do so many people act surprised about their P-cars going down in value every year? The only question "by how much"?
Two factors predominate, I think:
(1) the cost of a brand new similar car. If there is over or undersuppy, or the euro to dollar ratio changes drastically (forcing a MSRP price spike). All used cars are sold at discount to what a new one would go for.
(2) for a heavily leased models (like P cars), the residuals set upon initial sale determine how much the bank has "into it". When the car comes back (typically 3 years later), they will sell it at auction and everyone knows the bank just wants "what they have into it" so they target that price.
Cars you drive are not investments, but they do share one common sense buying approach with stocks: only pay as much for it as you're willing or able to ultimately lose. In either case you probably won't ever lose it all, but knowing that you could makes you enjoy the ride so much more.

NeverFastEnough

redcab,

well put!

TitanL9

redcab... I couldn't agree more and you expressed your view well. I am constantly amazed at the naivety many folks portray regarding RE, Autos, Boats, Jewelry and Art... Must have something to do with the notoriety associated with exceptions to every rule in each category.

kilrgt

I would say this.......We all drive P-cars Because we WANT to.I too love the 993, but the inter and the conv roofing sytem is so outdated, so any year 996 will be hugh improvment. If you can wait do so, if not grab life by the ***** and drive a awsome car that will put a smile on your face every time you slid into that seat......GOODLUCK

rmillnj

Prices for 1999 996's are incredibly low on the east coast right now. I found an absoloutely beautiful black on black coupe (35K miles) from a private party that he would let go for $36,000. I just passed on a equally nice 1999 Silver Cab (47K) that a dealer I know would let me have for $37,000. If you are willing to take one without a warranty there are some super buys out there right now. And there were some other really nice ones out there for not much more, but I saw and drove both of these and know that this is the price they would go for.

Gary (Fl)

Well put and I agree.

The issue is that in the past, 993 days and prior, you could buy a used pcar right, drive it for a year and sell it for the same or even more depending on how good a price you paid. I had a 97 993 C2, I bought in 99. It had 1800 miles on it. I drove it for 8 months put an additional 6K on it and sold it for 2k more than I paid for it. My buddy had owned 10 different pcars, bought them all used, and drove them for a year and then sold them. He only lost money on one car. Production on all models are up from back in those days and more cars are available. Heck, look at the production numbers of the 996 turbo compared to the 993... no comparison...

So as stated, buy what you can afford, enjoy it for what it is, and don't sweat the depreciation. If you are, you most likely should not own the car.

Scott_in_Houston

I bought a 2000 C2, drove it 8k miles and sold it for only 2.5k less than I paid for it NEW.

The market literally crashed just days later... luckily I had already ordered my 2002 C2 and sold my 2000.

I later traded in the 2002 C2 for a 2002 TT. My C2 had 13.5k miles and the TT 2500. I got such a good deal on the TT, that I felt the depreciation on the C2 was worth it. FWIW, I got a good trade in deal on the C2. So far I've been pretty lucky, but it's a matter of patience and waiting for the right deals. (Luckily, I didn't have to wait long on the TT)

I also figure that now that I'm in the TT it will depreciate at a much slower rate than the C2 would have. The used TT market has mostly flattened out. Yes, they're a good deal off sticker, but in general, they aren't dropping any more. Only mileage decreases the value, but if the car is just sitting there, it's already had it's depreciation and since no more coupes are being made, the TT coupe market is fully depreciated, so waiting won't make it better. So... my TT should keep it's value fairly well relative to what I would have lost on my C2 over the next few years.

redcab

Scott -

I disagree. Check KBB or Edmunds for (for example) 2002 and 2003 model years with the same mileage. I bet there is a price difference. When the new model year starts, every older model year becomes one year older and a little less desireable and a little less costly. It's actually not a big step down once a year, but a gradual one because there are other factors in play, like less time on the warranty left, or the advent of dealer incentives later in the model year.

I will agree with you that the difference between an 8 year old model and a 9 year old model (as a %) is going to be less than the comparison between a 1 year old and a 2 year old.

And even if I'm wrong, what's the fun of owning a P-car and not putting any miles on it?

Rob in WA

Exactly, my last 911 I drove for ten years put over 35k miles on it and lost less then $1k a year when I sold it.

Karl S

If my experience with the 99 model hold true for the 02 models, you will see a drop in 2002 prices soon. These models will soon be 3 years old, which means a lot of them will be coming off lease and the owners will turn them in and move on to a something else, perhaps a 997. This will create a glut of 2002's on the market, which will depress the prices, at least temporarily. So I think if you keep a sharp eye out and be a little patient, you'll find an 02 Cab that's affordable in the next 6-9 months.

Karl

Scott_in_Houston

you are right and your theory on the warranty is the primary reason why. There is no new model for a TT coupe after '03. In '04 they're making less than 200, so effectively zero. Once they're out of warranty, there will be almost no difference in cost between turbos.
My main point was that used market for TT's has pretty much flattened out and isn't getting any 'worse' for owners.

There is no fun! I'm not advocating not driving it. Drive these suckers! That's what they're made for and that's why Porsche is the best... you can drive it hard and not worry so much (relative to other sports cars in this range)