flyjets

CPO or new is the only way to minimize your exposure to cost control.

Opps I should have said maximize.

Ian

JoeFromPA

Ian,

I think you meant that un-ironically, but it came out delightfully ironic. To paraphrase, "To maximize cost, buy new or CPO from a dealer."

Igooz

Joe,
I have 12 years of TT ownership as DD. In stock trim, they are as reliable as any modern luxury car. For sure the TT is better than the Cayenne we have.
The challenge always is any replacement part costs more than other typical cars. So you get hooked up with a good local Indy and most of them MATCH mail order prices. This way you keep "your guy" in business and he helps you when you need it.

docfink

Man, I'm impressed with your math skills and ability to predict the future...Seriously, you're way ahead of me financially when I was that age (sounds like I've got about 15 years on you now), and obviously your analytic ability allowed you to get where you are...one thing I've learned is that the "once in a lifetime thing" happens more than once, so drive the hell out of whatever you love because there will always be another one--or you wouldn't be on this forum...just sayin'...Also, make sure the car you can afford is the car you WANT. If it's not, save a bit longer, rationalize it a bit less, then go for it when you can...unforeseen things happen in life all the time, so make sure you don't have a TT just to have one, but get the right one...

Also, I've got a few kids too...When I was your age I started saving in 529 plans for each one beginning while they were in utero. At that time I figured $150K should be enough for 4 years of college...that's pushing it big time now; better think of having about $250K for each kid if you're fortunate enough, or just keep working past your 50s. Continuous income (i.e., working--not retirement) makes things easier--that much math I know. That being said, I'm a physician; we don't create wealth, we just earn money and spend it, so you're obviously much wiser than I if you can live the dream and retire in your '50's...Godspeed!

heartman4ever

From the owner with first hand experience, there can be definite advantages to buying a CPO car depending upon one's priorities. Here's a few of mine from my purchase last year:

1) When considering a car without a PPI or seeing the car in person, the CPO ensures the buyer that everything will be right or Porsche will make it right. You can shop the entire country for exactly the color and equipment combination you want. The prices for the CPO cars are at most a few thousand more than private party cars and dealers are very motivated to move the cars off their lot and there's no emotional attachment or excuses / stories that I've experienced in the past dealing with private sellers parting with their "baby".

2) After buying a used car, the new owner has two years to drive worry-free knowing that whatever happens that you can point out to the dealer will be covered and fixed (aside from routine maintenance).

3) Your dealer (wherever you are in the country) will be delighted to go through the car bumper-to-bumper and fix everything he can find - even things you aren't even aware of, no matter how minor, to make your CPO car as good as new - and it won't cost you a dime. He wants to establish a relationship with you and keep you as a returning customer. And PCNA will ask for your feedback regarding dealer service, so the local dealer really wants you to give him a straight "A+" report card.

4) Buying a car from 2007 puts the age at 7 years old, meaning that many battery-related systems are at the end of their service life. CPO gets all those replaced for free, including the TPMS sensors. I had all four replaced on my car upon arrival for no charge.

5) If you intend to drive the car as opposed to making it into a garage queen, then you'll sleep better at night knowing that whatever stupid things the previous owner did will likely reveal themselves over the next couple years and will not be your problem.

In my case, the CPO car I bought came from the opposite side of the country and I only saw it from photos posted on the dealer website. A single owner car bought and serviced at the same dealer for the entire life of the car, my 2007 997.1 had 25K relatively pampered miles and supposedly went through a full inspection in Connecticut at the originating dealership. Upon arrival in California, the dealership here followed up on a check engine light and subsequently replaced all four TPMS sensors, performed a four wheel alignment since the steering wheel wasn't pointing exactly perfectly straight, and found evidence of an old rodent nest that had been overlooked in the front cowl that they removed and cleaned up. Several months later I took the car in for the exhaust wire campaign service and the dealer replaced the exterior temperature sensor and found evidence that the front passenger side radiator was seeping coolant so that was replaced as well. All covered under CPO and all together close to $5K in repairs and service if I had to pay for it myself. So I have no regrets buying from a dealer with the CPO warranty and feel I've more than made my money back - and I still have a year left to go before it runs out.

So I'll sum it up for you in three words "Peace of mind." And you cannot put a price on that. Of course, YMMV.

br911

Agree with the post above in al aspects. If you need the miles, I would not buy a a non CPO car that can be expensive to fix, such as a TT, unless you really know where it came from or if you have an independent shop that you can blindly trust. Otherwise you might not have the peace of mind to properly enjoy such great car.

Rogor

Is this really the depreciation?
If I look to the other Turbo models (even the 996). I find a bottom where their is no further depreciation.

In 2019 the 997 Turbo will still be a supersportcar (with the 6 speed manual) and the looks to match it.

There will be lesser and lesser cars, so my estimation is they won't drop below $50k. For $35k .... people from Europe will ship the cars.

docfink

@heartman4ever I completely agree and had the same experience with my (now traded away) 997.1. I had incredible service from the dealer in Kentucky, and great experiences with my local Porsche dealer here in Jersey. I feel getting the CPO on my TT made my decision easier instead of buying one outright from a seller.

ilko

I won't go into detail of the complete post but this particular statement is false. First, ALWAYS get a PPI at an independent shop, not the dealer that's selling the car. A good PPI will discover any possible previous body damage, paint issues, cosmetic imperfections like pitted windshield for instance. As well as mechanical problems that may or may not be covered under CPO.

Let's not kid ourselves. CPO does not cover everything on your car. It will not cover a clutch replacement for instance. If the engine has Range 5 or 6 over-revs even if the car is CPOed by the dealer they will not warranty the engine later on if it grenades.

mathys

125k miles is a lot though.... This will drive the price below the bottom-price of most.

Psup4s

Just picked up a CPO 997.1 and have only driven it less than 300 miles. Car is now at P dealer with engine and trans down for some oil cooler leak fix. Get a CPO and make sure its the car you want.

Terry Adams

What ilko said.

I kept a spread sheet for everything from new to the first 100K miles on my 993.

$1.22 per mile, incl everything. Reg, ins, wiper blade, light bulb. Only mods were suspension upgrade to M030/ROW at 75K and intake OEM Motorsound.

Depreciation was of course the biggest hit, then tires. But worth it to know what I am getting. To each their own.

Don't ask me for the spread sheet, because it was spoiling my fun so I threw it out.

So my guess on the TT would be around $1.50/mile, maybe more.

JoeFromPA

Rogor - My depreciation was based upon the car being bought at 50k, but being driven 75k miles in 5 years and hitting 125k miles total.

P-cars, and Turbo P-cars, over 100k tend not to command the same premiums anymore and so I thought it was a reasonable expectation to drop the price into the mid 30's. That's $25k for 75k miles of driving, or about $.33 per mile of depreciation.

Put another way, the average P-car is driving about 5k miles a year. Over 5 years, that'd be 25k miles and using the same per mile depreciation would only depreciate $8k.

JoeFromPA

Did you buy your TT new? $1.50 a mile as a daily driver for me would be over $20k a year in depreciation, tires, maintenance, and repairs. I don't think that's likely....I certainly hope not for those on this board because then it would be about the same cost to simply buy a brand new TT

Rogor

In Europe I think large mileage is not a problem. If the maintenance is well done (and for the Lowlands.. never drive the car on roads with salt).
This is the cheapest car site in Europe: Autoscout 24
Here you can see that cars with 100.000 km + are still worth something.

Or also a cheapcar website in Germany Mobile.de

I don't think year of car manufacturing is important for these cars.

1 Euro = 1.37 Dollars.