I'm new here, and have been enjoying reading these threads. I am considering my first Porsche before I get too old to enjoy one. After extensive research, I've narrowed the search to 997S or 993TT. I've driven the 997, but not the 993TT yet. The reason I'm considering the older 993 is for investment purposes, as they seem to be increasing in value. But the 997S is obviously a more luxurious car (I currently drive a C55 AMG, so am a little spoiled).

I'm interested in your expectations of the depreciation rates for the 997s. I've seen some nice 05 997S Cabs that are selling for almost 30k less than their original sticker price. I'd like to think that they've taken their biggest hit, and that going forward they will depreciate at a much slower rate (I have read that cabs are supposed to hold value better than coupes). It is hard to go by 996 prices, as they appear to be dropping quickly due to being considered much inferior to the 997 models.

Any opinions welcome.

 

Buy used... let some other guy (like me) take the de-pre hit.

I've learned my lesson and that's for sure.

 

What's the goal? Do you want a car that has less down side with regards to depreciation or enjoy driving the car on a day-to-day basis. You need to decide what you want. If your that worried about depreciation (which is pure speculation) and not the enjoyment/experience derived from driving a P-car you should look else where.

 

Get a 993 only because you really love it, I personally do. However, it's light years behind the 997. It's tough to compare a car with new technology, ergonomics, warranty, and much better driveability to a 10+ year old car. Step back and think about it, you're paying $40K+++ for a 10 year old car. That only makes sense if you really want it. I doubt the 993 is going to do much better in the market place. The great 993 market was somewhat based on the 996's lack of styling, that's gone with the 997. Sure, as time goes on more crash, but I wouldn't exactly say that a 993 is collector item, you can still get them easily. You actually would be paying a premium now for an old car. Drive the 993 and 997 and you'll see how old. Since you looking at a Turbo it's even more risky as you have more possible engine troubles that you will be paying for.
The other day I got onto the highway and a jet black 993S came up behind me. I was speechless, it looked incredible, what a shape, the shape. Even though I have had a 997 C4, Turbo, and now a C4S Cab in the last 10 months, that 993S put me in my place. It's that kind of car, so I know where you are coming from when you contemplate your decision. I want a 993 too, not for investment purposes, but because I love the shape, the stance, the way it sits on the road perfectly proportioned.

 

I guess I don't see it as an either/or situation (either fun OR a good investment). Any 993 enthusiast will say you can enjoy them as much or more than a newer 997. So if you can have fun with either one, and one may cost you $20,000 in depreciation over 3 years, and the other may cost nothing in depreciation (or even gain value), then that needs to be considered along with other pros and cons of the choices. It is just another factor to look at in deciding what I want. I understand the speculative aspect, but I don't think it should be ignored just because it can't be predicted with high accuracy.

I've lost a bundle on some cars in my life, and would prefer to avoid doing that again when I'm close to retirement.

 

+1

I can't forecast a "depreciation rate", but I do recognize your thinking on this, as I've had it myself for many years. (I just assume it'll depreciate about like any other new car, ie. it will cost you if kept any length of time at all).

But, these cars are so much more fun than what one would imagine a car can be that, for me anyway, it has taken the $$ out of the equation, so-to-speak.

Best "runnin' money" I ever spent.
Good luck

 

Great response, thanks. I've thought about many of the same things, but it always helps to hear it from other experienced owners.

 

I moved to the Boston Area a year ago from Corona del Mar, your area. I used to get my cars washed next to Phillips and would always look for a 993S there. One of the few things I regret in life was not buying an Ocean Blue/Gray 993S ten years ago. I swear I am going to find that car and buy it one day.

 

It was Alex, at Phillips, that steered me to the 993 a couple of weeks ago. He, like many, thinks they are going to go up in value. His regret was that he sold his C4S. However, I agree with one of the others here that they may have been bid up in the last few years due to the dissatisfaction with the 996. Like other collector cars, they may have become overpriced and be due for a correction (I was at Barrett Jackson this year, and saw the fall-off in many prices). Need to try a 993TT, then buy what I like best and the heck with depreciation! I did like the 997S Cab I tried, and it doesn't cost much more than a good 993TT.

 

None of the 993 models (except the TTS) are built in small enough quantities to appreciate anytime soon. And when they do, it will be the ultra-low mileage cars stored in bubbles. If you're going to actually drive the car and enjoy it, it will age and depreciate. While it may not depreciate as quickly as a used 997, a 993 will cost more to maintain, and will of course not be warranteed.

 

Alex sold his white 993? He loved that car. Alex is a great guy, he gave me a really good article about the 993 and their worth, but that was before the 997's were released.

 

Don't know the color, but he apparently bought it with 20k miles, drove it hard and daily for 2 or 3 years adding another 30k miles, then sold it for what he paid for it (and now wishes he had kept it).

 

I believe the 993 may be, for my money, one of the nicest looking cars ever built. It's almost mesmorizing to look at.

However, as Todd pointed out, (and I owned a 993 once), it's not the same car at all as a 997S.

I'm 48 years old, and I like the size of my 997 so much better, it's a car that I could drive to califonia and not tire of. Not so with a 993. It's a small car. It's really a "compact", albeit, a fairly fun one to drive. But, the fun of a small car (993) wore thin faster with me than what I believe will be the case with my 997, due in no small part to what I believe to be the perfect sized sports car in the 997.

The 993 looks great, but the 997 is an easier car to live with. It can actually be used as a car w/out feeling like I'm in a volkswagon sized car.

 

Hah! It's the 993's compact size that I find very appealing. It's just perfect! The new ones are just too big and full of needless "refinements" (especially that hideous center console!). They've turned it into a GT, imo.

I've also thought about buying a low-mileage 993, like that guy in Texas always seems to have. But I'd want to drive it, not just look at it, so I'd have to face the high maintenance costs and the inevitable high-mileage depreciation.

I'm still annoyed by what's happened to the 911 so I might still do that! It might not be a collectible classic, but the 993 is truly a beautiful 911...

 

I kept my 993 when I bought my 997S. My reasoning was; the value of the 993 had stabilized and thus, whilst maybe not exactly appreciating in value, it wouldn't lose any more value over then next several years. That seems to have been true. However, as with any car over 10 years of age, they become expensive to maintain. In fact, I've probably spend almost as much in maintenance on the 993 in the last year as the 997 has seen in depreciation - which is considerable!

From a driving point of view, there is absolutely no comparisson; the 997 is a throughly modern, high-performance sports car, with many luxury amenities and a chassis that rocks!. The 993? It smells like oil, is comparatively agricultural to drive and the AC and heater never work right - even when they're working! On the plus side it looks better and it sounds better.

I suppose it really depends on what your needs are. But if you're buying a 997S, I definately agree that you should buy used as they do take a massive hit in the first couple of years and there are enough of them out there to find one that's right for you.