Thanks Pete: Good luck and keep me posted.

 

I bought the car
It is a 2002 artic silver/ black large alum pkg, crests in the wheels & seats
Car cover, clear side lenses & a battery tender included. Mileage... 81 (not a typo) I paid 140k for the car. The car is brand new!!
Catina had the car listed for 160K originally. I will have the car early next week. The car at Prestige Porsche is also a nicely optioned car. '03 with 515 miles. I spoke to the P.O. about the car, it seems perfect. They told me they needed 145K for the car. I think it could be purchased for less. It is finishing ebay today with no bids at 155K starting bid price.
I will post picts when I pick it up.
Pete

 

Next step. Autocross and DE season with the NNJR-PCA.

Congratulations Pete!

 

Is fasteddiett a member over here? For whatever reason, I cannot post or email on the other site yet and wanted to contact him. Fasteddiett made a post on the 6speed site about a GT2 in San Jose for sale and I'd like to get more info on it.

thx

 

That GT2 is at Stevens Creek Porsche, talk to James Butler (408 244 5400) and use my name if you want, it may save you a little hassle (no financial interest).

The car looked pretty good to me, but this is on a superficial look, a PDI will ttell more.

fasteddie bought my 04 GT3 (400 careful miles) them after I picked up my 05. (Full disclosure, and I think he's happy).

 

Congrats Pete C - Sounds like an awesome car! You will love it.

JCM

 

Thanks again to all. I'll post picts when I get it home.

 

I am tempted.

I saw a 01 GT2 for what I thought was a decent price, although it has 12K miles. All the DOT stuff done.

They are willing to sell it for $110K.

Would there be a resale market for this when I got tired it?

 

If you know someone that buys/sells highline cars, you may want to consult with them. I have always heard that a Euro car will be more difficult to resell
& would always depreciate at a greater rate when compared to a US car.
Pete

 

You've got to ask yourself if the cost delta (savings) is worth the potential additional hassle. Maybe there will be a market..but it will always be looking for a steep discount. I think you'd be on firmer ground sticking with a US car, you'll pay more (sell it for more) and there will be a more ready market.

The price declines on these cars have levelled out. It seems that people are paying the same amount this year as last year (that's 0 depreciation)..a good sign. News of the GT2s demise has been premature. Recent comments seem to exert its virtues whereas this time last year most were of a more negative nature.

Is it fickleness, the economy or the high quality of Porsche driver education that accounts for the new sentiment?. Wait a few years and it will be downright mythical..another reason I'd opt for a US model.

This car is rarer than a Carrera GT...

 

Colm:

I have head several Porsches in the past and never have considered them to be an investment, but I'm a little nervous about the GT2, only because the 996 twin turbo is depreciating so quickly. I understand Porsche made a huge run of these cars, and I would hope that is the reason, maybe you can give me your insight.

 

GT2 Euro vs. US
Once a car is US & CA spec'd there is no compelling reason not to own it, the money you save on the purchase price makes it a performance bargain, but it can leave you with a car that is very hard to sell here in the US.
A thought for you is have a look at prices of the GT2 in Germany, as it may well be worth buying it, enjoying it for a year or two, and then taking it on 'holiday' to Europe where you could sell it after touring the continent, the 'ring etc. I suspect it will be worth a lot more over there with the exchange rates these days, and thus may give you a suitable exit strategy.

 

Clubrcr,

I agree a car is not an investment, unless one is extremely lucky (and stubborn) to hold on to the once in a lifetime wonder. Everybody has one car they should have kept.

However, there are ways to minimize the cost of ownership (and I wish I followed my own advice instead of emotions). A year ago GT2s were lanquishing on dealer lots or owners garages, right now they seem to be moving very quickly at relatively strong prices. E.g An 03 GT2 that was bought new for 170K can now be sold for around $140. thas $15K per year for ownership...not too bad. Where will they be in 2 years, who knows, but last year a similar car could have been bought for about the same amount.

With the TT I believe the 996 it became a "production" model, instead of a specialty model, combine that with the disappointment of those who bought them (expecting them to be rarer) and you had an over abundance of cars for sale, and at the high end values always plummet.

The TT is a great car, but if you drive it back to back with GT2/GT3 it appears very soft, especially on the track. As a daily driver it can't be beat but for track use (unless heavily modded (supposedly)) they leave you wanting..a visceral Porsche.

Macfly,

Theoretically, you may be correct, but I can't imagine a greater hassle than trying to a sell in Europe, while living in the US. In my case with a strategy like that I'd be setting myself up to take an even bigger dive, just to get rid of it. It's bad enough trying to sell a car privately in the local market.

As Watt would say : "Past performance is no indication of future results", but as an example the RS America was a hard car for Porsche to sell, and looked what happened to the values. Primarily, because there was nothing to replace it for a long time. IF the 997 GT2/3 comes to the US ( and I'm unconvinced so far) then they will have an impact on the values. Positive or negative depends on the motor and transmission used.

The reason I'm unconvinced is that it took a long time to sell (approx) 250 GT2s and 1000 GT3s. The buyers for the 997 cars would, by and large, be the same as those who bought the 996 versions..and are they ready for the update? Except for the fickle among us it might take a while! So the 997 is a couple of years away (IMO). That said there have been many posts about sightings, testings, and possible release dates ( by many more knowledable than me). I'll believe it when I see it (from Porsche) and go put my order in...in case it's better than the current one.

Right now I would not be afraid (value wise) of buying a GT2/3..driving it is a whole other matter!

 

where do you find GT2s now? autotrader.com and dupontregistry.com ads suck. They haven't changed

 

Com:

I think you're correct. I just hate to buy a GT2 and it depreciate anything like the 996tt. The depreciation on these cars has been unacceptable. It wasn't that way on any of my previous turbos.

As far as the car, I found it at Fantasy Junction. I very respectable dealer that sells racecars.