purrybonker

My experience is not there. I was dealing on an '06 C2S with 8k miles during 2008. The car wasn't CPO and I was going to buy it that way but changed my mind.

Asking price for the car was $79k IIRC, dealer wanted $2.5k to CPO it.

We ended up doing a deal with a $2k add-on for CPO.

So that was the exact price difference for CPO - $2k.

dansen

Couldn't agree more. Your car condition was the same or better than any CPO. Just like you bought extend warranty for $2g.

I been searching for an 09 for some time. Those CPO are asking for about the same price as it was new. Those 1st owners bought it with 20% or more discounted because of factory cash back. I Just can't do it.

Mark Harris

Thank you acao for your post. It was clear, easy to follow and understand. PFS, Dealerships, etc. require a profit to be in business. How much profit is market driven.

I guess the real trick is to find the perfect Porsche at Manhiem that the receiving dealer didn't want and the PFS truck picked up.

I suppose that can be done, but a few thousand bucks (Dealer & CPO mark-ups) as insurance is the route I prefer. I would rather write the check, forget about it, and sleep at night. Otherwise I would be laying awake wondering if tomorrow is the day my engine gernades.

hpowders

My dealer threw in the CPO for free since I was about to walk away from the deal. I told him to throw in the CPO at no cost and I'll buy it. He surprised me.

keynes

Heh, that is the boat I'm in. Especially with the 09's, (asking) used prices seem way too high. And when it is a private sale and the owner wants dealer retail- I raise the bs flag. Seen it on these boards (cars sold too..)

Buying a 3-4 year old car with the depreciation discounted is what conventional wisdom recommends. For a 997.2 however , many signs point to just coughing up more money and buying new.

Kathuat

I totally agree. As I pointed out in my original post - I am looking to buy a reasonably optioned C2 MSRP around $87K. I think since we are close to the model transition and July/August timeframe - I should be able to negotiate a price about $75K for a brand new C2 car. A 2008 model is priced at $60K. Amortizing difference of $15K over a period of 36 months or 42 month translates into a monthly depreciation rate $416 or $357 per month. I think that rate of depreciation is quite reasonable specially for a Porsche car. You can also make sure you break the car in properly and don't have any other worries associated with buying a used/CPO car including brand new tires, brakes etc. Decisions....Decisions....

In my opinion there has to be a stronger value proposition for a CPO car then the market is presenting right now. Am I missing anything? Appreciate continued advice, discussion and insight. This thread hopefully presents a good baseline to a lot of new members presently considering buying a CPO car. Thanks for all the great replies and high quality discussion on this topic.

DLennox

You'll be hard pressed to get an $87k car for $75k. There is only 10% markup in these cars, so invoice on an $87k car is about $78k and there aren't any factory incentives yet on the 11's.

Kathuat

I think you are correct. I am assuming in a few months Porsche and/or dealership might want to get rid of the 2011 stock and with some incentives $75K is a very realistic number. I think $70K might be a stretch. In no particular rush to buy a new or CPO car?

acao

Yes, you can make a little cash if you can sell a lease-end car for more than its residual, including all transaction costs. But, add up all your lease payments and then add in your residual, and you'll realize that the total cash outlay to own a car that was leased is really expensive. In other words, no matter how clever a bargain you strike on the lease end side, you already lost at least inception.

acao

The best route is to find a cherry Porsche that PFS didn't want back. Where? At non-Porsche dealerships. Find a Porsche on the lot at a Lexus dealership. No PFS relationship there, so PFS never got a crack at it. Instead, the Porsche ended up at the Lexus dealership as a trade in and the Lexus dealer paid off the lease/loan to PFS, essentially buying the Porsche free and clear (subject to the Lexus dealer's floorplan loan).

Then, self insure for the markup. The bottom line is that CPO on Porsche isn't that valuable when it comes to small stuff. 99% of things that go wrong can be fixed for under $2000. Without getting on a high horse, you should really have alot more than $2000 available to you. The CPO is valuable for the catastrophic failure, i.e. engine kablooie which could get into 5 figures. If CPO is a $10k markup, just self insure the nice Porsche you found sitting on the Lexus lot.

ClintonM3

FYI, lease residual is always based on MSRP. So even if the selling price can be much lower, a $80k car with 55% residual, the residual amount is $44k.

RedBarron2007

because they are worth it, period.. carrera s motor, 16,800 bucks fom porsche.. the reliability of the 997.1 cars makes me think i will never own a non CPO car ever again.

daddyscar

Residual is based on msrp. So buyout price at the end of the lease would be $47.3k.

daddyscar

What about the benefit of a fixed turn in cost? Lease, and you turn it at the residual. Buy, and you cross your fingers. In CA, you only pay sales tax on the part you rent. Also, your trade-in does not reduce the sales tax on the next car. I've liked leases for these reasons for some cars.

aaks38

I think the used car market has changed a good bit from last year for these cars and its no longer a buyers market. The deals arent quite the same and theres not as much cpo/used car inventory. The summer time is also a bad time to buy a used sports car as this is when they sell for premium..