JJB236

I currently have a 996 black/black C2 Tip w 22K miles. My lease expires next year. Current payoff is $38K, and the retail value is $50K. I'm planning on paying off the balance.

For you financial guru:

Is it better to trade the car in at around $38K without having to go through the hassle of all the selling process OR... sell on my own at retail price of approximately $50K which could be time-consuming? Is the retail demand high for P-cars? I know all my friends want one, but that doesn't mean they could afford one.

For those who already got the 997, did you buy or lease? If leased, how many months has the best rate? How much was your drive-off and monthly lease payment?

Alan Smithee

Is this a trick question?

You live in LA...there are more Porsche buyers here than anywhere in the world. And there is no tax credit for trade-ins. Unless you can't stand the selling process and/or love to line dealers' pockets with cash, sell it privately.

Go to leasecompare.com for current lease rates.

JJB236

I had a tough time getting rid of my 1999 BMW 740iL w 49K miles one year ago. It was a desirable car, maybe not as desirable as our P cars. Retail on this 740iL was $29K, and wholesale was $19K. I put the ad on autotrader and newspaper for a month. No calls. I finally had to sell it at $17K to a used car dealer Carmax, that was $2k below wholesale.

My 01 C2 is $50K retail, but I am hesitant to go into that selling process. Well, I need to buy the lease C2 first, though.

rfdjr58

You can compare a lease to a purchase by calculating the present value of the cash flows of the two transactions. The more difficult thing to value is the option (i.e. the option to turn in the car, and walk away at the end of the lease or the option to purchase the car at the residual value). All options have value, but you have to decide how much this flexibility is worth to you. Personally, I put a high value on this option. Hope this helps.

mdrobc1213

Sell it retail/private party. You'll get more unless you're in a hurry and find a great deal on a 997 and just need to do the trade to close the deal on the new car. Trading is easer but less lucrative as others have suggested than selling it retail. You may have to wait for your 996 to sell (offer it to one of your buds for a good price) but you'll be happy with the 997 when you get it. They should still be around by then and you may get a great deal on a CPO 05 or 06 then or brand new if you want. Just my 2 cents.

Dariof

I have always sold my vehicles through Edmonds.com (Auto Trader). THe trade-in values are always far less than private party sales.

The calls continue well after they are sold. THey have an option for $65.00 or so that your ad "runs until it sells."

Take plenty of pictures. Buyers like pictures.

I also price my cars at mid-level pricing. I select "Private Party Transactions" and select the "second best condition" (even though they are all really iin outstanding condition, or condition #1).

John NY-Naples

Maybe I'm slow, but if you are currently leasing the 996, how would you trade it in or sell it privately? Once the lease term is up, you can either purchase the car from the leasing company, or merely return it.

As to buy or lease the 997, I purchased mine to avoid having to pay interest. My view is you purchase unless you know of an investment opportunity for your cash that will yield higher returns that the interest you are paying the leasing company.

JJB236

I left out the part where it should have read that I will be purchasing my 996 before lease expiration. Retail value is $50,000. Pay off is $38,000.