997 Prices Going up?
#47
#48
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I'm just glad I'm in my car! Following it like I did for the last 18 mos going much higher for a clean example would be hard to do. However the buyers in the market, many of them post here, are not shy about buying some higher priced cars. My plan is to keep mine nice and move into a GT3 at some point before my cpo is up.
Spring is only going to bring more buyers with more consumer confidence and will keep the prices propped up as long as they're buying. $50-70k is a much easier nut to handle in most people's minds. $100k "is just crazy" to many, especially outside of the East and West coasts... The rest of us!
Spring is only going to bring more buyers with more consumer confidence and will keep the prices propped up as long as they're buying. $50-70k is a much easier nut to handle in most people's minds. $100k "is just crazy" to many, especially outside of the East and West coasts... The rest of us!
#49
#51
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I 100% agree that depreciation of 997 has slowed down, just look around the forum, HOW MANY are interested in buying 997s? Quite a lot... and the fact that 991 pricing is RIDICOLOUS, it just easily puts many 911 buyers down the 997 route, as the premium is simply not justified vs. the gains (or drawbacks, whichever you look at it).
#52
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Asking/MSRP prices on the 991 are NOT what dealers are getting, at least not on left over '13s! I see a lot of discounts (Rizza Porsche & Kings Auto Mall) and a car I was interested in at Performance in NC dropped the price from $138k to $120k! I still couldn't afford it but I sure thought about borrowing the $! The bottom line for me was that w a 997.2 C2s I didn't see the big step up for $60k! And after doing the SW stage 2 tune, I probably have more hp/T too! I do like the "lines" of the 991 cab though. All of these cars depreciate, and mileage seems to be a big factor, though why anyone would buy a 911 & then not drive it escapes me. I drive my car every frickin chance I get, and love it! My .02$
#53
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So what's the take home message here? If you want a "classic" 911 to admire and drive occasionally buy a 993 or older; but the 997s and 991s, they made/are making so many of them that the best thing to do is drive and enjoy them because you're never going to get your money back? Maybe I'm just in the minority but the money I spent on my GTS I consider gone. It's not a "more money than sense" mentality, it's just a 997 or 991 is an indulgence and not an investment so for me I drive my car, enjoy it and I don't care if it appreciates or depreciates.
#54
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Market value still comes into play even if the car shouldn't be an investment. If you happen to total the car, higher market value also means higher insurance pay out.
#55
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The new M3/4 could put some pressure on the 997 market as well. With lower weight and much more torque than prior M3s it's going to be a very quick car. Interior looks nice as well... a compelling alternative even if the feel isn't 911 good.
#56
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I purchase a high performance sports car like a Porsche for only one reason- the thrill of the ride. It is not a financially rational decision nor a prudent investment. I accept the fact that it is a depreciating asset and that the more I drive it the more it will depreciate. I will never forego driving it because the extra mileage will lower the resale value of the car. I bought it to drive and I will do so at every opportunity.
#57
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Mine is a base 911 (non S) with PDK & sport chrono. 41K miles. Not much else besides some silly $1,000 options here and there that net $0 on resale. An example is my leather logo arm rest for $850ish.
Anyway here are examples.
$46.9K but accident on carfax so throw this one out.
http://www.cars.com/go/search/detail...nal&listType=1
This one is 150 miles from me. $49.8K with 35K miles but a manual:
http://www.cars.com/go/search/detail...nal&listType=1
$52K with 48.9K miles from a Porsche dealership WITH CPO...
http://www.cars.com/go/search/detail...nal&listType=1
I admit I was a little low on my numbers but I think they are realistic for wholesale pricing as that is what I would get for a quick sale at Carmax or Ebay.
If I didn't enjoy pushing the sport plus button and flooring it on the interstate I would sell it and invest the money. But like others have mentioned in this thread.....who cares if it goes up or down in value. Drive the snot out of them.
Just like our houses we all think our Porsches are worth more than they really are. It just human nature.
Anyway here are examples.
$46.9K but accident on carfax so throw this one out.
http://www.cars.com/go/search/detail...nal&listType=1
This one is 150 miles from me. $49.8K with 35K miles but a manual:
http://www.cars.com/go/search/detail...nal&listType=1
$52K with 48.9K miles from a Porsche dealership WITH CPO...
http://www.cars.com/go/search/detail...nal&listType=1
I admit I was a little low on my numbers but I think they are realistic for wholesale pricing as that is what I would get for a quick sale at Carmax or Ebay.
If I didn't enjoy pushing the sport plus button and flooring it on the interstate I would sell it and invest the money. But like others have mentioned in this thread.....who cares if it goes up or down in value. Drive the snot out of them.
Just like our houses we all think our Porsches are worth more than they really are. It just human nature.
Last edited by Mark Harris; 02-14-2014 at 12:36 AM.