carreracoupe997

linklaw, we are talking about the value of a PORSCHE CERTIFIED car, not a private sale. Usually people tend to add around $3500 to the overall value of the car. Also I said assuming the dealermakes $4000 profit. Maybe he will need to make only half of that. It depends on the particular car. Get me the VIN on that $68K 2009 997S and I will tell you why it sold for so little money. It ain't rocket science.

Sub

carreracoupe, about the inspection. I didn't mean cpo inspection. I just meant an inspection.

Either way you look at it, this is an interesting discussion. Its fun to see such varying opinions on whats going on now and what the future will hold.

I think I'll just set a little reminder on my calendar to check back on this thread in a couple months so we can see who was right. I'll likely be in a 911 by then, one that was priced right and in great shape.

linklaw

cc997, I thought that Porsche Certified meant extra warranty (not comprehensive) coverage for 6 years from in service date or for 100,000 miles, whichever comes first. I understand the certification can be transferred from private seller to buyer, but not from non Porsche used car dealer to buyer. I understand that Porsche dealers can certify a car for around $2000, as long as it passes inspection. So if I buy a certified car from a private seller, I can transfer the warranty. If I buy from a dealer, the car can be certified for $2000. In either case, if I buy a car with remaining factory warranty, it follows the car. Using your numbers (assuming $4000 profit) dealers should be willing to buy nice, low mileage 2006 911S for $53K to $55K. I'm not talking trade in value, but outright purchase. I see nice, low mileage cars advertised all around the country in that price range, yet I don't see dealers snapping them up. I also was told that there has not been a 2006 997S sold at auction for more than $50K in over a month and the last one in above average condition went for $48,500. Maybe you're in a part of the country where you can get a $6K premium. If so, my hat is off to you.

linklaw

cc997, I just read a post here where a lister, Dr. Car. is selling his 9200 mile 2007 997S coupe for $54 grand. It looks like a real nice car and is a year newer than the cars we have been talking about. I would think a dealer would be all over that.

mjsporsche

There are many dealers who grew up in the business that say the following:
"Buyers are liars" when they come in with low-ball price quotes from their competitors.

There are many buyers who hear it all from the dealers about no profit left in the deal, the competitors car is not the same, the auctions do not reflect real value etc. and say the following "Dealers are full of s#$t".

That is what makes the car business so enjoyable. Two different views that must be respected! Buying (and selling) is an art, not a science.

jw97C2S

It's funny that no matter how bad the economy gets, the unemployment figures rise, banks fail, etc dealers still claim they are making good sales numbers.

bella1

They have it listed for $70K. What is the real value of this car? Its at a dealer.[/QUOTE]

I see $52,500... I was going to say $57,000. I will take $65,000 for my 06 CAB MSRP $106,000 with 27K miles. Dark Olive Metallic with Full Cocoa Leather and Cocoa Top Plus other options. And this is a CPO CAB!!! Others would say this is worth below $60.

mjsporsche

I see $52,500... I was going to say $57,000. I will take $65,000 for my 06 CAB MSRP $106,000 with 27K miles. Dark Olive Metallic with Full Cocoa Leather and Cocoa Top Plus other options. And this is a CPO CAB!!! Others would say this is worth below $60.[/QUOTE]


What number would you like to hear to make you feel good today? In your eyes it is worth more and that is what matters (as long as you are not selling it in today's market).

Don't ask if you are not man enough to accept reality.

Rob in WA

That applies if the car is still under factory warranty. If it's out, you get 2 years from the purchase date, up to 100k miles. If anything on a CPO car is out of spec, it gets fixed or replaced. Brakes and tires below 50% get replaced. We've routinely spend $4-5k certifying cars. It does add value to the car.

Sub

Its a month later... Is this car still worth $52K?

997, esq

It's certainly worth no more than a month ago. Notwithstanding the recent performance of the stock market, I agree with the poster above that the impact of the recession is only beginning to be felt. In the high-end legal market (where I work), for instance, there have been literally thousands of people terminated in the past month -- 20% of the American associates at some major firms. Most of these folks could have afforded a Porsche. Then there are the people who haven't yet been fired. The associates are scared to death and worried about being fired. Many of the partners are too (!), and others wouldn't want to appear to be greedy ******** by buying a new or newish Porsche after firing a ton of associates, staff, and fellow partners....

All of this means --- Even if this one doesn't work out, I think your patient approach will yield a very nice car at a very good price.

MHC2S

+1 my buddy posted a 997S with only 6,900 miles up on ebay for $51K and there were no takers. The market is just horrible for sellers.

Sub

MH, what year was it?

jwdwight

A few thoughts on market values based on several of the posts in this thread:

1. Market value is the price that a buyer and seller can agree on "today".....not 1 month ago or 1 month from now. NADA guides, blue book, auction prices are simply references that attempt to capture a general value range and usually have a lag time. I bought my '06 C4 in January below both Bluebook and NADA wholesale trade-in value. I don't think I can even get what I paid for it then and it is only 2 1/2 months later. But the price I paid was the market value for my car that day.

2. I don't agree with the comments that a lease return or a two owner car or a car bought at auction is worth less than a one owner car. With the resources available through good shops performing a PPI, websites like Rennlist, etc., an educated buyer can figure out the condition of the car, in general. I would rather buy a lease return on a low mileage car with a CPO that I determine is in great shape than a one owner car from a person that didn't maintain it, didn't know how to drive it or simply abused it. The car can be judged on its own merits and the resources are available to make a determination on the condition of a car.

3. I think the majority of the poeple on Rennlist are passionate about P-cars and maintaining their values. We all own them for one reason or another but they are an investment. Maybe not always a financial investment but it helps us all to maintain values. I think it is important to be realistic about pricing but stress the importance of paying the right price for a good car. I could put 4 different cars in front of all of you with the exact same options and specs but the values would vary depending upon mileage, condition, maintenance history, sellers motivation to sell and buyers motivation to buy, etc.

The bottom line is that Porsches are the greatest motorcars in the world and let's do what we can to maintain their values. Just because someone picked up a P-car for a steal last week doesn't mean that purchase price is now the value of the car. There are way too many factors involved in the sale to then generalize on the "new" value of that particular model Porsche.

JD

GrahamML

In Dec I bought a Jul-06 S model w/ 7400 mi for $63k with orig equip below -

BSEMDL BASE Porsche Base Model 81,400.00
BDYCLR X1 Arctic Silver Metallic 825.00
TOPCLR X1 Arctic Silver Metallic Top .00
INTERI TG Sand Beige Full Leather 3,365.00
OPTION P15 Power Seat Package 1,550.00
OPTION 267 Self Dimming Mirrors 385.00
OPTION 342 Heated Front Seats 480.00
OPTION 405 19" Carrera Classic Wheel 390.00
OPTION 446 Wheel Caps with Colored Crest 185.00
OPTION 640 Sport Chrono Package Plus 920.00
OPTION 670 Navigation for PCM 2,070.00
OPTION 680 Bose High End Sound Package 1,390.00
OPTION M6N Sand Beige Floor Mats 115.00
OPTION 431 3-Spoke Str Whl Multifctn lthr 740.00
Total Options 93,815.00
Total Charges 795.00
Total Order.. 94,610.00