P-Nuts

This one looks available in CT. Been on their website for a while....so would be worth a bid if you like the specs ... http://fairfield.porschedealer.com/2...18086/info.php

95spiderman

walk into dealer who has one in stock with $50k cash and a bank check for $100. i have a feeling you will get your car

George3

Interesting approach.

Carrera GT

I have no idea what $50K cash and one hundred dollars by check would do. Let's assume that's meant to be $100K by check. So the offer is $100K "documented" and $50K cash that somehow would swing the deal. I think this means "have a pool party, invite sharks." Why the hell would anyone deal with a car seller willing to take cash on the barrel to discount $25K off a GT2?! Maybe there's a rational explanation of this deal plan?

Anyway, I put the $150K price point to the test and offered to buy a car today for that number (actually a bit less, about 8% less) but round figures, it's an untitled GT2 at basically $150K.

I feel like it's a bit of a "catch a falling knife" situation -- I mean, if I can get a new GT2 at basically $50K or about 25% off sticker, what are the realistic consequences for the buyer in such a market? What's my resale in two years if a lot of people get a car in such low volume production at such significant discounts off new?

Anyway, if you follow on from my previous posts, I'm of the opinion that even if I buy a GT2 at $150K and sell at say $120K, that $30K hit is about the same as a buyer of a Carrera at $80K with a resale of $50K or a Cayman, Boxster or Cayenne for that matter. The only way to minimize loss on resale at present is the 997 GT3. And I don't mean that to be limited to Porsches -- any buyer considering any $80K+ car (new or used) should look at the GT3 as the outright resale value winner and then decide whether they can justify or afford to buy a different car and incur greater losses on resale.

mooty

dealers dont like it when you pay cash, trust me.
they make a LOT more money if you financed or leased.
just like securitized MBS, we dont want you to pay back the principal, as long as you dont default.
cash is NOT king, in this case.

George3

CarreraGT makes a good point. I know as a Seller of my 997 GT3 I just sold, that no matter what value I considered my car was fair, it was still too high for what the market deemed as Fair Market Value (FMV). Regardless of whatever price a Seller may think their car is worth, the real definition of Fair Market Value =is= whatever a willing buyer is willing to pay for it. Even though I thought my expectations were realistic when I priced my 997 GT3 for sale, I had to continue lowering my price until a ready buyer deemed it to be a fair price. Only then could a sales transaction be completed on my car. In short…. if it’s still for sale… it’s overpriced.

Big surprise. Car values in this market are in a state of flux. The complication of a weakening economy only impedes the valuation equation for high end cars. Only the truly motivated buyer will price their car in what “they” think is “below” market value. When in reality, it is probably the true FMV. As I mentioned on another board and CGT has substantiated here, it is the case of the “catching the falling knife” theory.

I’ve seen the $2K-$3K price drops. Just as in real estate, this does not motivate buyers. Most sellers go through the mental anguish of continually lowering the price, albeit in baby-bites, until the point of equilibrium has been reached. When a car or property has a “considerable” price drop… that’s what gets people’s attention. (IMHO)

Personally, I don’t think sellers of their GT2’s are anywhere close to being near the buying/selling equilibrium point. Their asking prices are so high that most potential buyers wouldn’t even consider making an offer. Until the point comes where the seller… be they private or dealer… come to the realization that the car needs to be sold, only then will the asking prices be adjusted to the level of where buyers would even consider beginning discussions on the car. When that happens, and I don’t think it’s anytime soon for GT2’s, hopefully the economy would be such that there will still be ready buyers for those cars.

Novice sellers may read this and smirk. Seasoned sellers may be reminded of comparable deals in their past. Either way, I have been in the position of selling in a down economy countless times… and not just for cars. The process is slow, but eventually we all get there.

Sweeper

Up in NH this has been there for sometime, at this price no wonder


2008 Porsche 911 GT2
2008 Porsche 911 GT2 Prices
Price: $195,000
Sale Price: $195,000
Call Now: 603-595-1707 Bodystyle:2 Door Coupe Engine:3.6L H-6cyl Transmission:6-Speed Manual Ext. Color:GT Silver Metallic Int. Color:Black w/Full Leather Seat Trim Mileage:725 Stock Number:U4067 VIN:WP0AD29918S796229 Model Code:997840 2008 Porsche 911 GT2 Fuel Efficiency
City MPG: 16 Hwy MPG: 23 Actual rating will vary with options, driving conditions, habits and vehicle condition.
This vehicle is located at:
PORSCHE OF NASHUA
170 Main Dunstable Road
Rte 3 Exit 5
Nashua, NH 03060-3638

Larry Cable

Sonnen Porsche have a white one

http://www.sonnenporsche.com/detail-...2-3536143.html

looking for $198k ...

Carrera GT

That's a joke asking price and it has 4000 miles, so I'm guessing this is exactly the kind of example that could dip well under the current $175K line that seems to be about right. As for this particular car, the red gauges are too much.

JohnnyBahamas

+1

I pay cash for my cars and my dealer treats me like a leper.

85Gold

-1

Thats funny, the last 2 Diesel PU trucks I purchased I paid cash for and the dealer didn't even try to sell me financing.

Peter

George3

Why are you surprised?
The dealers should be called stealers.

.

mooty

maybe GM/ford/GMC or whatever brand PU you got didn't get subsidized financing to the dealers. i spoke with a few friends who were either sales manager or finance manager. they said there are "money" to be made in the backend through financing. and i am not just talking about the rate mark up from buy rate to sell rate. in many cases, the dealer act as a "loan broker, sort of like mortgage broker". they work up a loan, then they get x% of sales price to the dealer. now this was when credit was liquid. TODAY. i am not sure this is still the case, maybe, but not sure.

George3

Surprisingly, there's still no softening of GT2 prices. The economy is in the toilet and on it's last swirl or two, the car industry is in a shambles and unemployment isn't going anywhere but up... just like AIG's bail-out money.

1) The dealers that are asking in the low $200K's for their GT2's . . . is laughable.

2) The Private owners considering selling their GT2's should get on the stick and sell their cars quick; because the economy is on the verge of collapse (my opinion only).

3) Folks buying a GT2 now may be in for a shock, because the "good deal" they think they're getting may be $30K overpriced in several months.

These are VERY scarey times.