High Mileage Resale
05-06-2006, 11:11 AM
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High Mileage Resale
As I'm looking at used boxsters I started thinking about future resale value. As I look around it's pretty clear that second hand boxsters are by and large low mileage cars and higher mileage ones seem to be difficult to sell. I'm looking for a daily driver, so I'd be putting on 15k+m/year.
So if I bought a nice S with say 20k miles for $30k, in 3 years it'd have 70k m and be worth what - $15K? Would I actually be able to get rid of it? Obviously I could just keep it and drive it into the ground, but I tend to not do that. So that brings up another option - lease a new one and hand it back to Porsche with 45k on the clock in 3 years. Definitely more money, but how much really - that's the question. I did some quick math and found that it would cost about $28k to lease a leftover 05 and it would cost me about $21k (assuming the 15k residual) to buy the older one. Hmmmm....
Am I missing something? Any opinions on my musings?
So if I bought a nice S with say 20k miles for $30k, in 3 years it'd have 70k m and be worth what - $15K? Would I actually be able to get rid of it? Obviously I could just keep it and drive it into the ground, but I tend to not do that. So that brings up another option - lease a new one and hand it back to Porsche with 45k on the clock in 3 years. Definitely more money, but how much really - that's the question. I did some quick math and found that it would cost about $28k to lease a leftover 05 and it would cost me about $21k (assuming the 15k residual) to buy the older one. Hmmmm....
Am I missing something? Any opinions on my musings?
05-06-2006, 11:40 AM
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I've always felt comfortable with having a warranty on anything this expensive I've owned-Porsches, Harleys, etc.
I'd go for the '05 if you can find one you like and can afford it and you'll know your expenditure upfront from day one. If you go with the older S, you could run into one or more repairs that put you right with the total cost of the new one.
Having said that, I just got an '02 S with 25k on it and remaining factory warranty and plan on extending it through a 3rd party, so that is another option. I believe with most of them they want a car that has remaining warranty before they will extend it.
just some thoughts...
Jeff
I'd go for the '05 if you can find one you like and can afford it and you'll know your expenditure upfront from day one. If you go with the older S, you could run into one or more repairs that put you right with the total cost of the new one.
Having said that, I just got an '02 S with 25k on it and remaining factory warranty and plan on extending it through a 3rd party, so that is another option. I believe with most of them they want a car that has remaining warranty before they will extend it.
just some thoughts...
Jeff
05-06-2006, 03:49 PM
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Yeah I thought about the warranty issue too and if I get a CPO car, the used price goes up even more. I just went and drove an '06 (and a 330 convertible and a '01 M Roadster - it was a good morning 
) and I gotta say I like it MUCH more than the S I drove earlier this week. The sound alone!!! I really think they improved the car a lot. I do have a good line on a loaded '05, but even the 06 lease isn't bad - in fact it's pretty much the same due to different residuals. Ah, decisions, decisions...
) and I gotta say I like it MUCH more than the S I drove earlier this week. The sound alone!!! I really think they improved the car a lot. I do have a good line on a loaded '05, but even the 06 lease isn't bad - in fact it's pretty much the same due to different residuals. Ah, decisions, decisions...
05-06-2006, 11:47 PM
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Originally Posted by Turboflyer
THey will charge you a big chunk for the excessive mileage and probably a fee as well.
I have a second car so I wouldn't mind parking the boxster in January.
