Resale values stink!!!
Thread Starter
Nordschleife Master
Joined: Mar 2002
Posts: 5,077
Likes: 246
From: North Eastern US
Resale values stink!!!
I expected it, but I was still surprised at how low dealers are going for trade-ins on Porsches.
Oh, well. I guess it's back to the original plan of keeping the C4S "forever". No more trade-ins. The GT3 will have to wait 'til spring next year.
Oh, well. I guess it's back to the original plan of keeping the C4S "forever". No more trade-ins. The GT3 will have to wait 'til spring next year.
Thread Starter
Nordschleife Master
Joined: Mar 2002
Posts: 5,077
Likes: 246
From: North Eastern US
Seeing the incredulous look on my face, the dealer was trying to justify his call based on the soft used car market and my relatively high mileage (15K miles). As we were talking, a guy that was on the lot looking at new Boxsters asked to look at my car, then offered $5G more than the dealer!! By then I was so turned off to this whole deal I just said a polite "No thank you".
Intermediate
Joined: Jan 2002
Posts: 49
Likes: 0
From: Dallas,TX
I think it was bound to happen with the number of Porsches being produced now compared with the historical number. I see many more Porsches on the street now, especially in major Metro areas. That said, I still love driving mine every day and think they offer a great value- until you try to trade them in.
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Instructor
Joined: Apr 2002
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From: Cape Cod area/Anchorage area
When I wanted to trade my 2000 M5 for a 2002, the dealer offered me 50k on trade. I still have it and don't regret the "No Trade". The 996 has just about 8k and I just feel that this dealer would try the same thing.
It's going around. Have you seen airline ticket prices now compared to three years ago. Remember...it's all connected!
It's going around. Have you seen airline ticket prices now compared to three years ago. Remember...it's all connected!
Thread Starter
Nordschleife Master
Joined: Mar 2002
Posts: 5,077
Likes: 246
From: North Eastern US
Just took the C4S out to my favorite twisty road just outside of town. Man, I love this car!!
Sorry about the initial rant. I guess the dealer's offer just caught me off guard. Regardless of resale, I am STILL getting that 2nd Porsche next year, and keeping it "forever". <img border="0" alt="[burnout]" title="" src="graemlins/burnout.gif" />
Sorry about the initial rant. I guess the dealer's offer just caught me off guard. Regardless of resale, I am STILL getting that 2nd Porsche next year, and keeping it "forever". <img border="0" alt="[burnout]" title="" src="graemlins/burnout.gif" />
Pro
Joined: Apr 2003
Posts: 685
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From: Newport Beach, California
Buy used. I used to lease or only buy new in the past--bad idea. I will have a GT3 in a couple of years when the newness wears off and the 1st owner is 'done' with it. I reckon I saved close to $30k on my current car.
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Joined: Dec 2002
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From: SF
I learned these 996's don't go very high in the used market since the supply is just too much. Most of the 996 oversupply came from quick rich guys first time porsche buyers in 99-00 when they realized a year later that either it was too much for them or not very practical car. I was one of them in 01 and 02. I tried twice to sell the car for an acceptable loss but all the offers were insulting or discouraging. Compared to the 993's I think they held up their values pretty well.
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"I learned these 996's don't go very high in the used market since the supply is just too much. Most of the 996 oversupply came from quick rich guys first time porsche buyers in 99-00 when they realized a year later that either it was too much for them or not very practical car."
Yeah, I remember when I ordered my 01 in the summer of 00 that I did so because it was CHEAPER than buying used at the time! I'd have ended up paying MSRP or better for something not exactly what I wanted anyway - and it would be used!
Oh yeah, and I sold my 993 cab that summer (in 3 days!) for $50 more than I paid for it 7 months earlier when I bought it used off the dealer (where I bought my present one new) lot! And, I had a back up offer at the same amount! Hint: the buyer's husband was an Intel employee if that tells you anything! Not a lotta of those guys in the market now. Maybe we should find out what the realtors and mortgage brokers are buying today and short the heck of it :=)
Yeah, I remember when I ordered my 01 in the summer of 00 that I did so because it was CHEAPER than buying used at the time! I'd have ended up paying MSRP or better for something not exactly what I wanted anyway - and it would be used!
Oh yeah, and I sold my 993 cab that summer (in 3 days!) for $50 more than I paid for it 7 months earlier when I bought it used off the dealer (where I bought my present one new) lot! And, I had a back up offer at the same amount! Hint: the buyer's husband was an Intel employee if that tells you anything! Not a lotta of those guys in the market now. Maybe we should find out what the realtors and mortgage brokers are buying today and short the heck of it :=)