996/997 Prices Hit New Low
03-26-2013, 11:31 AM
#46
Rennlist Member
Porsche introduced a new model generation in the past 12 months as well so one would expect older generations make room for that also.
03-26-2013, 01:28 PM
#47
Rennlist Member
03-26-2013, 01:53 PM
#48
Drifting
Thread Starter
The OP (KrazyK) was laminating the perceived sudden drop in 996 prices.
I was merely making an observation while I shopped for a newer model.Those that continue to deny the 996 downward price spiral are just deluding themselves about ACV of the cars. I wish I would have waited for the Porsche bombshell of admitting the defect and I could have afforded a TT or a GT3, or one day a GT2.
03-26-2013, 01:57 PM
#49
Rennlist Member
None of those cars are affected by the IMS problem. In fact, this news of the legal settlement is probably more likely to push the prices of those cars up rather than bring them down.
03-26-2013, 02:18 PM
#50
Perhaps for a '99 or '00 with higher miles... find me a decent '02-'04 with ~50k miles at that price and I'll buy it today. A friend bought a nice '02 with 40k and very few options last fall after a long search. He paid ~$25k. After all the cars he had looked at he was very happy with that price.
03-26-2013, 02:20 PM
#51
Also just like the stock market, there's gonna be owners that panic from the lawsuit and sell off their cars thinking there maybe something "wrong" with their cars, further flooding the 996 used car market and increasing supply and lowering demand.
03-26-2013, 03:17 PM
#52
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Black book estimate on my old 04 40th AE with 22k miles in mint condition is 14K-24K.
03-26-2013, 03:37 PM
#53
For example - here is a 40th Anniversary with 27k offered for sale at a Subaru dealership in CT. The list price for the car is $49k!!!
Don't misunderstand, they are not going to get that much for the car. And all sorts of regional pricing comes in to play. Cars are more expensive in the Northeast and CA, cheaper in the Midwest, FL and TX. But I bet they get $38-40k - which is a whole lot more than the $24k high trade in number.
http://billkolbsubaruinventory.vinma...spx?ID=2376599
Also remember that dealers can always get more for a car than a private seller.
03-26-2013, 04:40 PM
#55
Drifting
Thread Starter
None of those cars are affected by the IMS problem. In fact, this news of the legal settlement is probably more likely to push the prices of those cars up rather than bring them down.
For example - here is a 40th Anniversary with 27k offered for sale at a Subaru dealership in CT. The list price for the car is $49k!!!
I predict it will be there for a LONG time at that price. You can easily pickup a TT for less. I bet you could look at this car in person and ask "Isnt this the car Porsche is recalling because the engines are deffective?" The price will drop about $15K. They will be lucky to get over $30K for this car.
Last edited by KrazyK; 03-26-2013 at 04:57 PM.
03-26-2013, 04:47 PM
#56
Rat Balls
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Capt Obv. , its called "guilt by association".
I predict it will be there for a LONG time at that price. You can easily pickup a TT for less. I bet you could look at this car in person and ask "Isnt this the car Porsche is recalling because the engines are deffective?" The price will drop about $15K. They will be luck to get over $30K for this car.
I predict it will be there for a LONG time at that price. You can easily pickup a TT for less. I bet you could look at this car in person and ask "Isnt this the car Porsche is recalling because the engines are deffective?" The price will drop about $15K. They will be luck to get over $30K for this car.
03-26-2013, 04:54 PM
#57
Drifting
Thread Starter
No, I meant thats what a typical customer would say that heard about the legal action. The "AWD" 40th AE was not anywhere in the list.
All Wheel Drive, never get stuck again
03-26-2013, 05:10 PM
#59
Three Wheelin'
I didn't buy my car as an investment. I know that they depreciate in value. I've just always found it interesting how some people like to make a case for just how quickly they seem to drop in value. I've spent time on a lot of car forums and I can't think of another where I've sensed pleasure(?) from a group of people when they talking about their car's depreciation. It's just strange.
Wrong. Porsche ISN'T recalling the 996. A recall would be GREAT for owners. Porsche isn't recalling anything. They're allowing for the miniscule group of people who know about the settlement and who fall within its tiny scope of protection to possibly get some reimbursement if their IMS failed or fails in the future, provided the cars that fail continue to meet the settlement's requirements, which is very finite given the time bar included in its terms.
-Eric
-Eric
03-26-2013, 05:19 PM
#60
Rennlist Member
Perhaps for a '99 or '00 with higher miles... find me a decent '02-'04 with ~50k miles at that price and I'll buy it today. A friend bought a nice '02 with 40k and very few options last fall after a long search. He paid ~$25k. After all the cars he had looked at he was very happy with that price.