rxjohn

Friends are looking for an early model ( 2000-2004) 996... about 1.5 years ago, I saw many in mid $20K range.. I see less inventory and higher pricing today. I apologize if this has been discussed as I haven't been here in a while.

Has used market picked up some?

SAM DACOSTA

I purchased a 2002 Porsche 996 (C4S) last month and saw many in the $30K price range to choose from in relatively good condition. When I viewed others in the mid to high $20K price range they seemed to need allot more work than I was willing to put into it.

With that being said, I'm sure there is a car out there in your price range. With the recession, many Porsche owners are letting their cars go and it's a good time to buy. Do your routine searches on Autotrader, Craigslist and E-Bay and you'll find good inventory of 996's across the nation. You just have to work with your budget and find the best car for your budget.

rxjohn

Well, that's what I'm saying. I bought my my 02 with 45,000 miles for $28,000 year and half ago, granted yours is C4S. Fast forward, now it's in $30K range.. I would have expected mid to low $20K range.

Optical TDI

Yes I've noticed recently the high asking costs of 996s. I bought mine in 2009 with 13k miles on it for $34k. It seemed a bit high at the time, but the condition was simply near perfect and CPO. But now I don't feel so bad with what the market is doing.

It's very surprising that these are the asking prices at dealers anywhere from $25k to $52k for the 40th anniversary: http://ucl.porsche.de/ucl/plsql/usa/...AKHDAUU&pnr_=1

Thundertub

Economics 101
Supply - Demand
Two years ago the country was in a very deep recession, even capable buyers were frozen in their tracks not wanting to make any big purchases, and lots of folks got caught out on debt vs employment.
Many Porsche owners are "marginal players" financially and there was a huge need to sell luxury items (Porsches).

Fast forward to today, the job market fears have eased for those who remained employed during the last 4 years, and thus the purse strings have opened up a bit to address pent-up demand.
Additionally, the used car market is flourishing as new car sales struggle to return to former levels because, although they are willing to spend to buy a Porsche, they are not necessarily as willing to buy a NEW Porsche. Easier to get a loan on a $30K car than a $100K car. Two years ago the banks weren't loaning money to anyone for anything.
Some folks have now downsized their dreams for a new Porsche to simply finding a nice used one.
This change in buyer trends is not limited to Porsche.
I believe that those able to keep their Porsche during the recession, wanting to sell but not wanting to give their car away to someone, chose to simply wait it out to get a better price.
And, I believe, many who still have them prefer to hold them rather than trade them up and take a large hit on resale.
Supply - Demand Need vs Want

tooloud10

The people on the forums often seem to undervalue their cars. I think pricing has definitely leveled out for the 996 for the time being. I'm seeing the same thing in the Lotus market--Elise and Exige models are $2-5k more today than they were a year or two ago.

rxjohn

I'm not complaining actually...I was quite pleasantly surprised.

SAM DACOSTA

I'm glad you mentioned that, as I was not sure if it was a complaint or good for you. As a fellow 996 owner, I'm very glad that they are holding or in some cases increasing in value.

rpm's S2

And don't confuse asking price with selling price.

SacTownGuy

I don't think prices are going up on the 996's but maybe they have leveled a little. However, I have noticed prices declining on turbs and even some early 997's. Look around there are some deals on those.

mlambert890

This is absolutely spot on. Regardless of asking vs selling price, a sweeping trend of asking prices marching steadily higher implies by definition that either selling prices are climbing as well, or people simply *dont need to fire sale*

The used car market is absolutely flourishing and that is the reason behind this. It is a *psychological* shift in the market and also a *very real economic one*

A DODGE dealer today told me that over the past 4 years, he has seen sales go from 70/30 new/used to the REVERSE.

People used to extend themselves well beyond where they are willing to today. Yesterdays $100k C2 buyer is todays frugal used buyer.

But sales of the new cars arent down, AFAIK (BMW had a record US quarter), because other markets are there to pick them up and, I dont know, maybe the elites who vacuumed up the middle class wealth buy matching P Cars for their dogs

It will be interesting to see when the used market "levels".

tooloud10

Sure, that makes sense to me. Those are more expensive vehicles...there's always going to be a "floor" for pricing on a solid, used Porsche 911. Seems to be somewhere in the $15-20k range right now.

Tarek307

Used car prices are UP not down! if you goto the auction the past year and a half it has been ridiculous, not even worth going...the recession hurt the NEW CAR market more than the Used car market, all the BIG DEALERS are doing is going to auctions and buying and bumping UP THE PRICE OF USED CARS because that is their main market now as new car sales are totally down

Jacks911

The current Excellence issue reports a continued down trend in 996.. but their data is most likely 6 months out due to sale data collection timing & publishing time-lines. So it is likely we have leveled out. And yes the dealers are looking for cars. Every issue of our PCA club magazine has had a full page ad from Parkplace Motors - in the last 4 months - Asking to used Porsches. They used to say they had 50 Porsches in stock at all times. This is a specialty Consignment dealer that focuses on high end Sport & Exotic cars.... so Demand is up.

francars

I think there are still great deals to be had for the 996. I believe prices have leveled of but Excellence showed interesting numbers showing it coming down

99 coupe low end was showing $14k ????