Ck986

Here is my take on pricing

< 10K miles = $50K +
>10K m <30K m = $45K-$47K
>30K m <50K m = $40K-$43K
> 50K = < $40K

My take on mileage is buy a car with 20K-30K miles. If you buy a car that has less than 10K miles it will not have had the typical wear points fail such as clutch cylinder, MAF, coolant tank. Based on my search the coolant pipes have not really been a problem. I think it may have been a more prevalent problem on tracked cars. So instead of these items being replaced during the warranty period you are now stuck paying for them. For 51K you can get a beautiful midnight blue TT with 7500 miles.

Macster

Well, you got an opinion. You seem fixated on future value. All anyone can offer are guesses, masquerading as opinions. I get the impression you want someone to assure you that there will be no depreciation but I don't think that's going to happen. Well, you might get the assurances you seek but I have my doubts that they'll prove accurate. But this too is just my guess masquerading as an opinion.

You buy a relatively low miles car. You add miles, even 4K miles a year. (I'd have to ask why bother owning the car to drive it just on average 10 miles a day but it is your decision.) The car depreciates. I think that is a given.

As for the car's current value I see the asking price is $49K. KBB has the car valued in "excellent condition" at $41K which according to KBB only 3% of the car qualify for this. So, the next level down is "very good" and the car's value is then $40.4K.

NADA has the car valued for less. Clean retail is $38,625.

NADA clean trade in is $34,300. This suggests there could be at least a $9K mark up on the car maybe more.

This is important.

There is depreciation from use, wear and tear, improper servicing, and there is depreciation from paying over market for a car. The odds of finding another buyer who'll over pay for the car 5 years down the road with the car even with just say 53K miles but now 17 years old is pretty slim.

The car appears to be a nice car. It doesn't have big miles. The interior is different, has the dark wood trim and frankly I like the interior. But it is not everyone's cup of tea. There is the question of how that light color leather interior will age and what the wood trim to look like. I have no experience with wood trim. Based on the pictures the interior doesn't look like it has suffered any so far. If that holds true for another 5 years that's great. If not… Even if it holds up, the wood trim come resale time could make it a tougher car to unload.

There's all of that. But there is this: Depending upon how badly one wants this example it could be worth closer to the $49K asking price. But the more one pays the more there is to depreciate. You make it tough on yourself with that 5 year horizon.

Anyhow, good luck with your search and if you buy this car I think you'll do ok. Which is just another guess, but one that is backed by a sincere wish you'll do ok.

Added: A point of interest that may help you with the value is a search of the VIN turns up the car was offered for sale back in Sept of this year. The car has been for sale, it appears, for 3 months with no takers. Assuming there are no stories yet to be learned about this car this suggests the price is high. I note too based on the search results the price was $49K back in Sept.

Misplacedyankee

Thats generally a good guide - minus X50 as an add and ownership/records both bring up value in my eyes by 5-7K on those numbers.

The car in the post looks decent. I would have them throw in that 100K warranty for that price. That would ease a ton of fears if its a good policy like Fidelity Platinum or something.

Melb-Mike

I looked at this thread to see what values people were guessing at. I'm in the same position as Quad. I'm going to go look at three such cars tomorrow, weather permitting. The cars I'm looking at are;

1) 2004 Turbo Cabriolet with 52,000 miles. Asking price is $41,500. car is reasonably clean in the pictures but the front or nose of the car looks a little dulled out and a little dinged up. Pictures are hard to judge a car by.

2) 2004 Turbo Cabriolet with 56,800 miles. Not sure of the asking price since it was traded in before I could inspect or buy it. Now I'm dealing with the dealer who took it in. Price was $39,900 by previous owner. I was able to speak with him and he told me the car was super clean and a solid performer with absolutely no issues. Since he has nothing to gain or lose from reporting on the car, it gives me a great deal of confidence. Pictures of the car looks like a new car inside and out. Carfax report is squeeky clean.

3) 2002 Turbo Coupe with 57,650 miles. Car looks clean. Asking price is $36,900. Seller/dealer appears to be a broker working out of a commercial storage building, so confidence here is lacking.

So, having reported the above and having done a few Kelly Blue Book and NADA black book value checks, my conclusion is that there is no conclusion as to value, it is subjective.

Subjective = how much you love it, how much money you have to buy it, how understanding your wife will be when you tell her you had to have it.

I'm not trying to wedge in on Quad's thread, only trying to comment on what I'm going thru as it relates to his question/thread.

Melb-Mike

You don't seem to care about which year it was produced. Is that correct that a 996 TT is a fixed value regardless of the model year ?

rmc1148

Melb-Mike those prices all sound like they are on the low side which is good for you= if the cars check out.

Ck986

I don't think model year matters. I prefer an 02 due to the updated dash and no pcm. I think cabs and tips sell at a lower price than coupes. I know of a tip cab in ny with 50k miles for about 40, with full wood interior.

I put a deposit on an x50 with 30k miles. I hope its clean

NoGaBiker

I think I may be the Market Maker in the last year or so. I paid 55 for a 17k mile X50 with a buncha leather, Artic over the premium Natural Grey (which is really just black.) Sunroof delete. This was exactly the car I wanted (except it had crappy 19" wheels that I replaced.) Had H&R coilovers, headers and exhaust, and SSK, but motor was unmolested. Runs strong, looks perfect in and out. Private party ask was 57, we haggled a week, and 55 was the best I could do. MSRP was 149k.

I don't regret it for one moment. It's exactly the car I wanted. If you want a no-sunroof X50 in a particular color in and out, with premium leather but no wood, and under 25,000 miles, and no NAV screen, when you find the car you don't worry too much over price.

I also second the opinion that prices have stabilised over the last 12 months. There will always be a delta between 996TT and 997.1TT. But Mezger M64 engine is desireable. The farther we get from that being available on any Porsche Turbos, the more interest there will be in it, just like happened with the aircooled cars.

I think the time will come fairly soon where 7.1TT prices eclipse 7.2TT prices, once both are just older used cars (7.2s are still new enough to be of interest as newish cars to the general population, who have no knowledge of the type motor each version has. But that will change rapidly as the 991s flood the streets and all 997s start to look dated. When the 7.1TT stops sliding the downward pressure on 6TT prices will go away completely. Currently, that delta is 20,000 dollars. That's too much for a set of headlights. I think it will stabilize at closer to a $10,000 delta between 6TT and 7.1TT.

So there is room for 7.1TTs to still slide another 10k before stabilizing and then starting to run up slowly, without 6TTs going down any further. Of course, any individual car that is being used up will go down, but I mean cars of a particular description, like 30,000 mile X50s today are as cheap as 30,000 mile X50s are going to get.

Look to the history of 964T vs 993TT pricing for a perfect analog of the future of 996TT vs 997TT prices.

Cheers!

leftlane

I have an 04 TT cab w/60k miles and I wouldn't even consider selling it for less than $50k. Those examples listed above have to be story cars or else they were sold by folks with zero idea of what their own car is worth.

I doubt you'll see a ton of depreciation in the next few years since the new TTs are priced though the stratosphere. I don't think there is a more fun and accomplished car you can buy for +/- $50k.

Ck986

It's true new TT's are around 200'ish. I can't stand the 997, to me everything about the design is worse than the 996.2 and 996tt. What engine platform is in the 997tt?

Melb-Mike

I'm too new in this game to know. I know cars but know very little of Porsches other than I always wanted one. I get scared about "story" cars, those who will drain you of your money. I felt really good about the guy I talked to who had just traded in his 04 TT since he nothing to gain or lose by calling me back AFTER he had traded in his car. I think his report on the car speaks volumes.

Someone chimed in that cabs and tips sell for less. Cabs are cabriolets (drop top) but don't know what "tips" are. Yeah, I likely sound pretty dumb to most of you when it comes to these cars, and yes, you'd be right. With other classic cars, when the top comes down, the price goes up, as evidenced by my 69 big block vette roadster. Its price will be 20% to 25% higher than a comparable coupe so I was surprised when it was claimed cabs are lower in value, although I don't doubt it. Just surprised. You guys seem to know what you're talking about and hence the reason for me reading your posts. I only wish I had more of your knowledge while trying to buy this car.

leftlane

Tip = tiptronic. That's Porsche's semi-automatic tranny.

As far as cabs, I guess it depends where in the country you are. I happen to place a premium on the drop top, just like the factory did when new. You can always add a hard top and have the best of both worlds.

jumper5836

But it will not look good either way when the top is up/on.

NoGaBiker

The 997.1TT (through MY2009, iirc) shares the M64-based Mezger engine with our 996TTs, but utilizes different (variable vane) turbos. In 2010 they switched the Turbo to the MA1 block that powers the regular 997s and now the 991. I could be off a little on the years. But I think the 997.2TT debuted as a 2010 model.

jumper5836

Your correct. I believe 2009 the last of mezger engines in the tt also had some improvements over the 07 & 08. Which will probably make it the most desirable Turbo in the future.