USMC_DS1

Many of us have paid more in cash for our cars so I would not let the dealer smoke screen financing as an issue. In fact, you could go to CarMax and get a written quote for cash value to compare vs. what the dealer is willing to offer. I believe their quotes are valid for a week. Very clean transaction... I sold my prior M3 this way. It was quick, I did not have to deal with all the tire kickers and used car salesman insulting me with a low ball quote. Just have your car detailed/cleaned before showing them the goods and you should get market value... that was bluebook for my M3. BTW, I think you should post it here on RL if you'd like to know whom will take care of your baby moving forward.

DerekS

Agreed, I used Carmax to dispose of my 2008 lease-end Boxster S. It was cheaper to sell to Carmax than to deal with all the wear and tear issues.

gregikh

Thanks everyone for the support and the great advice. It’s already listed here on rennlist. I have gotten a good response but it seems that every other caller is a dealer calling trying to lowball me. I think it’s actually an encouraging sign that the market is healthy for low mileage 997s. They have little inventory and they expect prices to hold steady. If you think about it, the new lease residuals for 991s are 77% from 24 months (5k miles) so when these cars come off leases, a 100k MSRP car will be purchased at by the dealer from Porsche at 77k and marked up to 85-90k. High off lease prices should translate to stable to higher pricing for 997s.

Anyway, a fellow Rennlister is interested in the car and he seems like standup guy. I’ll drive out to the Jersey Shore this weekend to see him. I volunteered to make the trim because I don’t get to drive my 997 much so, really looking forward to a nice ride with the top down.

Rocco07

Don't forget about the tax savings on the trade-in route. You only pay tax on the difference between the two cars. If you have no trade, you have to pay tax on the full purchase amount. Factor the savings in and you may be better off trading in. Sometimes the hassle of selling a car like this is not worth a couple grand. Test drives, posers, being available for viewing etc. sometimes trading is less stressful with immediate effect.
B

CORSASCHNELL

I personally hate selling cars on my own, lots of calls and people who call and start negotiating the price over the phone without seeing the car, which is a dead give-away for time wasters. I'd rather get a few thousands less and deal with a reputable dealer.

But best of luck in selling your car.

kvmentor

Post it for $55K and get a carfax - should be able to sell it as a private sale cause it is no tax for buyers.

toper

Unfortunately, this option isn't available in every state (I can speak for California on this).

CORSASCHNELL

Yes indeed, Republic of California taxes every time a car is bought/sold. Figure an average car changes hands 4 times in 15 years and the State collects tax every time.

gregikh

I had not thought of the tax issue, you make a great point. The only problem is that the dealer knows this and will try to take advantage of this as well. When dealing with dealers I want to try and minimize the degrees of freedom I allow them so having only one price to negotiate will put me on much firmer footing.

mm1

I recently traded my prior car on a 997.2s at a Porsche dealer. I wouldn't assume all dealers are out to get you and the tax issue is important to consider. This is why I didn't sell my prior privately combined with the hassle.

One way around losing taxes paid and still trading is if where you're buying will do a "courtesy trade" where they act as middle man for selling your current car and you buy your new car from them. This would require you to find your 991 and maybe put a deposit down and quickly get a buyer.

I realize this is my 1st post, long time stalker and FINALLY a 911 owner after years of dreaming. Good luck.

jca3

Don't forgot the tax implications. Not sure about NY, but here in Washington state you only pay sales tax on the DIFFERENCE between your trade and the new purchase. At almost 10% sales tax, that adds up pretty quick and can make trading in an attractive alternative to a private sale.

EDIT: sorry, missed the posts above stating the same thing... sorry for the dogpile.

gregikh

mm1, I know not every dealer is out to get me but my experience with dealers in the tri-state area has been awful. I have leased my previous 6 BMWs and with the last 3 I gave up going to dealers and went through leasing agents instead. I get great deals without much effort. How is it that a leasing agent can get 8-10% off MSRP off the bat while a customer that walks into a dealership gets quoted full MSRP and the highest money factor. Don't even get me started on the gimmicks... application fee, doc fee, floor space fee....I know they make this stuff up as they go along.

My recent experience with this 997 is, one dealer keeps calling for me to sell my car to him for 48k while he has several 2008 997.1 Ss, with slightly higher mileage, he is offering on his site for 70k. Even if he sells them around 63-65k, the spread between a non S and an S is not 15-17k. I assume that the S is worth 5k more and he has to make 5k on the sale. Also factor in the CPO, another 2k. The wholesale price he should be offering me is low 51-53ks not 48k.

Sorry for the long, winded post, but I hope you see my point. The tax savings is nice, but having to negotiate 2 separate prices at the same time with a dealer is not something I want to pursue. Some people claim a CPO is nice, but again my past experience showed me that the CPO process is not as strict as they make it out to be. I have seen CPO cars that needed breaks, tires, not all maintenance was up-to-date and the roof had tears. It all depends on the dealer and some are better than others, but my experience with dealers has been very negative so far.

bzliteyear

You and others may think $5k profit reasonable, but I have dealt with them for 30 yrs and they habe no problem trying to make $15 to $20k on you for a commodity product yhat they pitch as unique.
PL

chris.hanle

Check your state on the tax thing. Because in certian states you can sell a car privately and deduct that off new car purchase, just have to fill out a form and show bill of sale. I have done it several times though none in NY. A quick call to tax/licensing dept will help.

hBomb

Definitely figure out your state tax situation. Here in Chicago, private party vehicle sales tax caps at $1500 for all vehicles worth > $30K. Local sales tax is 9.75%. I bought an 06 C4S cab from a private party (and Rennlister!) in San Francisco, and the money I saved by not paying sales tax at a dealer more than covered the cost of enclosed transport.