Prices Keep Drifting Up
01-03-2022, 04:24 PM
#4471
Rennlist Member
I remember buying my CPO ‘05 Honda S2000 for a really great price during the “great financial crisis”.
The used car market was great until “cash for clunkers” screwed everything up.
The used car market was great until “cash for clunkers” screwed everything up.
01-03-2022, 04:28 PM
#4472
Rennlist Member
Hah! The one thing the government is good for is setting the "Law of unintended consequences" in motion. They mean well, they really, really do. But they create a **** storm. We will all see first hand how the pixydust crisis plays out. It won't be pretty.
01-03-2022, 05:02 PM
#4473
Rennlist Member
I was working at the Porsche Dealership at that time and was friends with the GM, the Sales Manager, and all the Porsche Salesmen. The GM still calls me to this day from Ft. Walton Beach Fl. and asks for advice/help on his Cayenne..lol.. So I had " insider information". The Dealership was owned by Sonic Corp. (Brewton Smith) and they were on top of the market weekly as the market changed.
People who have never been on the inside won't believe it, but a Dealership will flip a car for a couple hundred bucks if they can do it quick and it's not a rare or sought after model.. But they will also trade-in for $5k less than market and sell it for $5k more than market if they can. They call that " making a lick" on one..lol... IF a car sits on the lot for more than 30 or 60 days, they start getting the pressure, Corporate puts pressure on the Dealership, Dealership puts pressure on the Salesmen.
What I'm saying is the Dealerships saw the 996 market fall first, and was paying less for them on trade-in prices. Then they would either Wholesale them, or take them to auction to get rid of them.There were several years where we didn't even have a used 996 on the lot, if we had one it was a sure nuff "cream puff." and probably still that way.
I think the rise in the 996 market we are seeing now is from the shear performance of the car or it's collector appeal to the general public.
People who have never been on the inside won't believe it, but a Dealership will flip a car for a couple hundred bucks if they can do it quick and it's not a rare or sought after model.. But they will also trade-in for $5k less than market and sell it for $5k more than market if they can. They call that " making a lick" on one..lol... IF a car sits on the lot for more than 30 or 60 days, they start getting the pressure, Corporate puts pressure on the Dealership, Dealership puts pressure on the Salesmen.
What I'm saying is the Dealerships saw the 996 market fall first, and was paying less for them on trade-in prices. Then they would either Wholesale them, or take them to auction to get rid of them.There were several years where we didn't even have a used 996 on the lot, if we had one it was a sure nuff "cream puff." and probably still that way.
I think the rise in the 996 market we are seeing now is from the shear performance of the car or it's collector appeal to the general public.
Last edited by Porschetech3; 01-03-2022 at 05:13 PM.
The following 2 users liked this post by Porschetech3:
GC996 (01-03-2022),
Mike Murphy (01-03-2022)
01-03-2022, 05:18 PM
#4474
Rennlist Member
I was working at the Porsche Dealership at that time and was friends with the GM, the Sales Manager, and all the Porsche Salesmen. The GM still calls me to this day from Ft. Walton Beach Fl. and asks for advice/help on his Cayenne..lol.. So I had " insider information". The Dealership was owned by Sonic Corp. (Brewton Smith) and they were on top of the market weekly as the market changed.
People who have never been on the inside won't believe it, but a Dealership will flip a car for a couple hundred bucks if they can do it quick and it's not a rare or sought after model.. But they will also trade-in for $5k less than market and sell it for $5k more than market if they can. They call that " making a lick" on one..lol... IF a car sits on the lot for more than 30 or 60 days, they start getting the pressure, Corporate puts pressure on the Dealership, Dealership puts pressure on the Salesmen.
What I'm saying is the Dealerships saw the 996 market fall first, and was paying less for them on trade-in prices. Then they would either Wholesale them, or take them to auction to get rid of them.There were several years where we didn't even have a used 996 on the lot, if we had one it was a sure nuff "cream puff." and probably still that way.
I think the rise in the 996 market we are seeing now is from the shear performance of the car or it's collector appeal to the general public.
People who have never been on the inside won't believe it, but a Dealership will flip a car for a couple hundred bucks if they can do it quick and it's not a rare or sought after model.. But they will also trade-in for $5k less than market and sell it for $5k more than market if they can. They call that " making a lick" on one..lol... IF a car sits on the lot for more than 30 or 60 days, they start getting the pressure, Corporate puts pressure on the Dealership, Dealership puts pressure on the Salesmen.
What I'm saying is the Dealerships saw the 996 market fall first, and was paying less for them on trade-in prices. Then they would either Wholesale them, or take them to auction to get rid of them.There were several years where we didn't even have a used 996 on the lot, if we had one it was a sure nuff "cream puff." and probably still that way.
I think the rise in the 996 market we are seeing now is from the shear performance of the car or it's collector appeal to the general public.
Last edited by GC996; 01-03-2022 at 09:59 PM.
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01-03-2022, 05:22 PM
#4475
A used, base, stock, or otherwise average non-special 911 will often have achieved full depreciation at the 15-yr mark. Those are the cars that no normal (sane?) person wants, mainly because they are afraid or uninformed (and unwilling to invest time) of what could loom ahead for repair bills. There might be some deals at the 10-yr mark for the low mileage examples, especially in a down market (I bought an 8-yr old Boxster S with 20k miles in 2008). But wait too long, say 20-yr mark, and the car is a classic.
So anyone who got rid of their 996 and made a ‘killing’ might consider doing the same with a 991. Plenty of people did this same thing 15-20 years ago with the 911SC, 3.2, and 964. For the 991, you might find that prices for these cars are still a bit higher than expected, but have a look at the mileage. Some garage queens that have low miles can be driven for a few years and the car won’t lose much money because similar cars in a similar price range will be selling for similar prices. So you drive a nice, newer 911 and not lose much money. Repair bills might be super low as well for a cars that’s this clean.
And before anyone starts talking trash about a 991, please review posts between 2000-2004 where it was the same thing, although there was a LOT more hate directed toward the 996 compared to the ‘real’ 911s that came before it.
So anyone who got rid of their 996 and made a ‘killing’ might consider doing the same with a 991. Plenty of people did this same thing 15-20 years ago with the 911SC, 3.2, and 964. For the 991, you might find that prices for these cars are still a bit higher than expected, but have a look at the mileage. Some garage queens that have low miles can be driven for a few years and the car won’t lose much money because similar cars in a similar price range will be selling for similar prices. So you drive a nice, newer 911 and not lose much money. Repair bills might be super low as well for a cars that’s this clean.
And before anyone starts talking trash about a 991, please review posts between 2000-2004 where it was the same thing, although there was a LOT more hate directed toward the 996 compared to the ‘real’ 911s that came before it.
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01-03-2022, 05:32 PM
#4476
Rennlist Member
What's the buz on the 991 flaws?
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work_truck (01-03-2022)
01-03-2022, 07:25 PM
#4477
Rennlist Member
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work_truck (01-03-2022)
01-03-2022, 08:53 PM
#4478
01-03-2022, 08:57 PM
#4479
Where are the 991 deals? Prices went crazy since last year on them.
991 is a good car to get into since it's NA
991 is a good car to get into since it's NA
01-03-2022, 09:00 PM
#4480
Rennlist Member
01-03-2022, 09:04 PM
#4481
😡
double reported
double reported
01-03-2022, 09:07 PM
#4482
Burning Brakes
Jeez... Someone is a bit fragile.
01-03-2022, 09:10 PM
#4483
When I said 991.1 are a steal, I meant compared to 997.2 and 991.2
I think the 991.1 C2S C4S and GTS all are good value compared to their older and newer counterparts.
I don't know much about them mechanically the major complaint I've heard about them is that they are bigger than the 997.
I think the 991.1 C2S C4S and GTS all are good value compared to their older and newer counterparts.
I don't know much about them mechanically the major complaint I've heard about them is that they are bigger than the 997.
01-03-2022, 09:19 PM
#4484
Rennlist Member
When I said 991.1 are a steal, I meant compared to 997.2 and 991.2
I think the 991.1 C2S C4S and GTS all are good value compared to their older and newer counterparts.
I don't know much about them mechanically the major complaint I've heard about them is that they are bigger than the 997.
I think the 991.1 C2S C4S and GTS all are good value compared to their older and newer counterparts.
I don't know much about them mechanically the major complaint I've heard about them is that they are bigger than the 997.
991 is a completely different "luxury" feel than the "analog" 996 and more refined 997.
Mechanically, I didn't learn much about their quirks. But I am sure they have them. All cars do.
Last edited by GC996; 01-03-2022 at 09:57 PM.
01-03-2022, 09:48 PM
#4485
Rennlist Member
I was working at the Porsche Dealership at that time and was friends with the GM, the Sales Manager, and all the Porsche Salesmen. The GM still calls me to this day from Ft. Walton Beach Fl. and asks for advice/help on his Cayenne..lol.. So I had " insider information". The Dealership was owned by Sonic Corp. (Brewton Smith) and they were on top of the market weekly as the market changed.
People who have never been on the inside won't believe it, but a Dealership will flip a car for a couple hundred bucks if they can do it quick and it's not a rare or sought after model.. But they will also trade-in for $5k less than market and sell it for $5k more than market if they can. They call that " making a lick" on one..lol... IF a car sits on the lot for more than 30 or 60 days, they start getting the pressure, Corporate puts pressure on the Dealership, Dealership puts pressure on the Salesmen.
What I'm saying is the Dealerships saw the 996 market fall first, and was paying less for them on trade-in prices. Then they would either Wholesale them, or take them to auction to get rid of them.There were several years where we didn't even have a used 996 on the lot, if we had one it was a sure nuff "cream puff." and probably still that way.
I think the rise in the 996 market we are seeing now is from the shear performance of the car or it's collector appeal to the general public.
People who have never been on the inside won't believe it, but a Dealership will flip a car for a couple hundred bucks if they can do it quick and it's not a rare or sought after model.. But they will also trade-in for $5k less than market and sell it for $5k more than market if they can. They call that " making a lick" on one..lol... IF a car sits on the lot for more than 30 or 60 days, they start getting the pressure, Corporate puts pressure on the Dealership, Dealership puts pressure on the Salesmen.
What I'm saying is the Dealerships saw the 996 market fall first, and was paying less for them on trade-in prices. Then they would either Wholesale them, or take them to auction to get rid of them.There were several years where we didn't even have a used 996 on the lot, if we had one it was a sure nuff "cream puff." and probably still that way.
I think the rise in the 996 market we are seeing now is from the shear performance of the car or it's collector appeal to the general public.
Any used car of any manufacture has been enjoying a price bump.
The last time I visited my dealer there wasn’t a new car on the lot. Everything new was sold before it was trucked in. What was in the showroom were only used cars.
If you check on prices for any used Porsche (or any other marque) you would see higher prices across the board. Even Cayenne prices are elevated. Just like houses, it’s a good time to sell, not so much to buy.
So it’s a trickle down effect. Brand new 992s are hard to find, so people start looking at used 991s. Suddenly there are more buyers for 991s and prices jump. So finding what you can afford leads you to the 997 market. Looking for a nice 997? Market’s tight, so people start exploring low mileage 996s.
Now the market tightens for 996s and prices drift up. It’s all supply and demand.
Will prices drop? Maybe, but not for the immediate future and by the time the supply chain issues resolve it may mean we only see a leveling of used car prices.