996/997 Prices Hit New Low
03-24-2013, 11:59 AM
#16
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It's unfortunate that the lawsuit settlement does so little for owners. Only covers 01-05. Unless your car has already grenaded, it rules out most 01-03s (ten year limit). It does nothing for 99-00 or 05-forward. And it draws more attention to the risk that a $20 part (guessing at Porsche's cost) can destroy your engine at any moment. If it were a more prevalent car (a Camry, say), this would have been solved long ago. But since it's a niche, rich-guy car brand, well, caveat emptor.
I agree with the notion that the settlement (quite typically) benefits Porsche and plaintiffs' lawyers far more than plaintiffs.
I agree with the notion that the settlement (quite typically) benefits Porsche and plaintiffs' lawyers far more than plaintiffs.
03-24-2013, 01:02 PM
#18
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It's ludicrous to even speculate that the news of the class action suit has already caused prices to drop. The majority of people looking for a Pcar today don't know about the IMS issue and even less know about the lawsuit. That includes non Porsche used car dealers.
Remember that the failure rate for IMS is still very low, but I would guess that many dealers lump other failures into this category due to an incorrect diagnosis or as a way to fleece a consumer. The suit will require a dealer to prove the failure was IMS related to get PCNA to pay out, which may actually reduce the IMS failure rate.
Worrying about your IMS in light of this suit is like suddenly finding out that humans can get cancer. The lawsuit doesn't mean you are suddenly at a higher risk of your engine imploding.
The big winners here are the aftermarket IMS retrofit companies and installers. I would wager that in the future a car with an upgraded bearing may sell faster (maybe not for more $$$) than a car with the OEM bearing.
Remember that the failure rate for IMS is still very low, but I would guess that many dealers lump other failures into this category due to an incorrect diagnosis or as a way to fleece a consumer. The suit will require a dealer to prove the failure was IMS related to get PCNA to pay out, which may actually reduce the IMS failure rate.
Worrying about your IMS in light of this suit is like suddenly finding out that humans can get cancer. The lawsuit doesn't mean you are suddenly at a higher risk of your engine imploding.
The big winners here are the aftermarket IMS retrofit companies and installers. I would wager that in the future a car with an upgraded bearing may sell faster (maybe not for more $$$) than a car with the OEM bearing.
03-24-2013, 02:00 PM
#19
Remember that the failure rate for IMS is still very low, but I would guess that many dealers lump other failures into this category due to an incorrect diagnosis or as a way to fleece a consumer. The suit will require a dealer to prove the failure was IMS related to get PCNA to pay out, which may actually reduce the IMS failure rate.
Worrying about your IMS in light of this suit is like suddenly finding out that humans can get cancer. The lawsuit doesn't mean you are suddenly at a higher risk of your engine imploding.
The big winners here are the aftermarket IMS retrofit companies and installers. I would wager that in the future a car with an upgraded bearing may sell faster (maybe not for more $$$) than a car with the OEM bearing.
Worrying about your IMS in light of this suit is like suddenly finding out that humans can get cancer. The lawsuit doesn't mean you are suddenly at a higher risk of your engine imploding.
The big winners here are the aftermarket IMS retrofit companies and installers. I would wager that in the future a car with an upgraded bearing may sell faster (maybe not for more $$$) than a car with the OEM bearing.
03-24-2013, 02:56 PM
#20
It's ludicrous to even speculate that the news of the class action suit has already caused prices to drop. The majority of people looking for a Pcar today don't know about the IMS issue and even less know about the lawsuit. That includes non Porsche used car dealers.
Remember that the failure rate for IMS is still very low, but I would guess that many dealers lump other failures into this category due to an incorrect diagnosis or as a way to fleece a consumer. The suit will require a dealer to prove the failure was IMS related to get PCNA to pay out, which may actually reduce the IMS failure rate.
Worrying about your IMS in light of this suit is like suddenly finding out that humans can get cancer. The lawsuit doesn't mean you are suddenly at a higher risk of your engine imploding.
The big winners here are the aftermarket IMS retrofit companies and installers. I would wager that in the future a car with an upgraded bearing may sell faster (maybe not for more $$$) than a car with the OEM bearing.
Remember that the failure rate for IMS is still very low, but I would guess that many dealers lump other failures into this category due to an incorrect diagnosis or as a way to fleece a consumer. The suit will require a dealer to prove the failure was IMS related to get PCNA to pay out, which may actually reduce the IMS failure rate.
Worrying about your IMS in light of this suit is like suddenly finding out that humans can get cancer. The lawsuit doesn't mean you are suddenly at a higher risk of your engine imploding.
The big winners here are the aftermarket IMS retrofit companies and installers. I would wager that in the future a car with an upgraded bearing may sell faster (maybe not for more $$$) than a car with the OEM bearing.
03-24-2013, 04:12 PM
#21
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The majority of people looking for a Pcar today don't know about the IMS issue and even less know about the lawsuit. That includes non Porsche used car dealers."
Have to totally disagree with this. I'm in the process of looking for my first Porsche and have spent weeks talking with existing owners, all of whom new about the IMS & seals problem. Spent even more time on this forum where there are 2 stickies about IMS.
As most P owners are fanatical about their cars (a compliment-I know I will be). I'm convinced majority of used buyers spend hours researching their purchase. Guys who can afford new don't need to research, good warranty they obviously got lots of money;-) When I buy mine, its going to an independent shop near me in AZ to have the IMS & seals fixed. For me great peace of mind, specially when I'm buying an older car. I've already got a quote for the complete work, based on a 2001 auto C2, for me its part of the purchase cost.
Machog
Have to totally disagree with this. I'm in the process of looking for my first Porsche and have spent weeks talking with existing owners, all of whom new about the IMS & seals problem. Spent even more time on this forum where there are 2 stickies about IMS.
As most P owners are fanatical about their cars (a compliment-I know I will be). I'm convinced majority of used buyers spend hours researching their purchase. Guys who can afford new don't need to research, good warranty they obviously got lots of money;-) When I buy mine, its going to an independent shop near me in AZ to have the IMS & seals fixed. For me great peace of mind, specially when I'm buying an older car. I've already got a quote for the complete work, based on a 2001 auto C2, for me its part of the purchase cost.
Machog
03-24-2013, 04:24 PM
#22
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The majority of people looking for a Pcar today don't know about the IMS issue and even less know about the lawsuit. That includes non Porsche used car dealers."
Have to totally disagree with this. I'm in the process of looking for my first Porsche and have spent weeks talking with existing owners, all of whom new about the IMS & seals problem. Spent even more time on this forum where there are 2 stickies about IMS.
As most P owners are fanatical about their cars (a compliment-I know I will be). I'm convinced majority of used buyers spend hours researching their purchase. Guys who can afford new don't need to research, good warranty they obviously got lots of money;-) When I buy mine, its going to an independent shop near me in AZ to have the IMS & seals fixed. For me great peace of mind, specially when I'm buying an older car. I've already got a quote for the complete work, based on a 2001 auto C2, for me its part of the purchase cost.
Machog
Have to totally disagree with this. I'm in the process of looking for my first Porsche and have spent weeks talking with existing owners, all of whom new about the IMS & seals problem. Spent even more time on this forum where there are 2 stickies about IMS.
As most P owners are fanatical about their cars (a compliment-I know I will be). I'm convinced majority of used buyers spend hours researching their purchase. Guys who can afford new don't need to research, good warranty they obviously got lots of money;-) When I buy mine, its going to an independent shop near me in AZ to have the IMS & seals fixed. For me great peace of mind, specially when I'm buying an older car. I've already got a quote for the complete work, based on a 2001 auto C2, for me its part of the purchase cost.
Machog
03-24-2013, 04:34 PM
#23
Nordschleife Master
The silver lining ... 993 prices are up 25% 
03-25-2013, 12:02 AM
#26
FWIW, I was just checking autotrader for something unrelated and decided to do a search for '99-04 996 non-turbo models and noticed roughly over 700 for sale. Anytime you have that much inventory, there are going to be lower resale values, especially for a niche car like that where most buy it as an unnecessary secondary leisure vehicle.
03-25-2013, 09:22 AM
#27
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03-25-2013, 10:04 AM
#29
Racer
2nd that Brunino, my 2002 Targa cost me $102,500 4 years ago, it had 79000 klms, now it has 160000 klms (and it's running fine, great car) but it's now worth $38,000 as a trade in on 997 and I would be lucky to get a buyer at $48,000 for a private sale, and at the moment the Aussie Dollar is 104.6 to the USD, you US guys are so lucky.
And there has recently been comment over here about how we are being ripped off by a lot of big corp's, a new Porsche here is about 3 times the US price, and the only cost we have above the US is a 10% GST tax.
When asked the MD of Porsche Cars Aust' said that the Aust' pricing was "set where it is because that is where the market is", go figure....
And there has recently been comment over here about how we are being ripped off by a lot of big corp's, a new Porsche here is about 3 times the US price, and the only cost we have above the US is a 10% GST tax.
When asked the MD of Porsche Cars Aust' said that the Aust' pricing was "set where it is because that is where the market is", go figure....
