rome

Most of you know I am a pretty unabashed Kool-Aid drinker, having had few problems with my CS and really loving the vehicle overall.

However, I am not pleased at all about the depreciation hit we seem to be taking. I briefly considered swapping out my CS of an '08 CTT, but it seems foolish given the numbers I am seeing.

Here are the facts: Purchased my '06 CS slightly more than a year ago for a sticker of about $72K+. Now, KBB.com shows trade in value of only $38,000 (and I'm sure the dealer would offer even less). $34K in depreciation after one year-- WTF? Admittedly, I drive a lot of miles (about 29K in the first year), and perhaps I could sell it for more to a private party, but that still seems like a huge hit, especially considering the lease residual when I bought the car was pegged in the high 30's after a 3 year lease. (I didn't end up leasing it as I prefer to buy).

What are people seeing from the dealers in actual trade in values?

yetis

It is amazing. I have never bought a new Porsche, so I cannot fully empathize. However, the more I read about pcars is that the modern ones don't seem to hold their value, even the really expensive ones. Being as the depreciation now appears worse than even what Porsche expects, leasing now seems to be a bit of a better option. That or the hybrid lease option. I am like you as I don't like to lease, but depreciation like this make me think other wise.

jumper5836

It's foolish to buy it new. Leasing is a better choice or buying used.

Sharptt

Either way you pay a lot nowadays to drive a new Porsche. A lease with 29K miles on it would have been pretty expensive, particularly if you wanted to buy out of the 3 year lease at the end of 1 year. Why not wait another year and buy the same car 1 year old?

LVDell

Odd that your 06CS is trade-in at 38K. Mine (05 V6) was 33.5K. Only reason I know this is that I considered trading in my 05V6 on a 05TT and the dealer offered me the following:
41K for my 05V6
69K for the 05TT

I decided against it since I really don't want the TT but entertained the idea. But even at that great deal, I still would prefer the S. For that kind of coin I would rather spec a BRAND NEW 08CS at 69K then to have a (3year old CTT) for the same price. I will just keep my 05 till the lease ends in 1.5 years and start from scratch.

huskydog

I just checked my 05 CS with 40K miles on KBB, here are results:

Condition Value
Excellent
$38,250
Good
$35,995
Fair
$31,885

Here are the results for a similary equipped 06 with 29K miles

Excellent
$40,225
Good
$37,755
Fair
$33,340

I track the value of mine fairly close and I am suprised at the 2k difference. The 1st year mileage must really be hurting you. I hada an 06 on order last year stickering around the same $72k and I cancelled it and bought a used 05 same stuff for $22k less. Not sure at the time, but this makes it look like a really good decision now

rome

Yeah, those are the numbers I'm looking at. But note-- the "Excellent" trade in catagory is really a myth. No matter what condition your car is in the dealer will always find a reason why it is not "excellent." Indeed, even KBB has a disclaimer which says something like only 5% of vehicles qualify for "excellent." On most cars I've traded, dealers hold firm in saying the car is in "fair"condition even though I am pretty fanatical about caring for my cars, garaging them at home and at work, no food in the car, etc.

rome

At this stage in my life I really prefer to buy the car new, spec it myself etc. Also, I drive a lot of miles, so its best to have the clock as close to zero as possible.

The big depreciation hit won't keep me from buying another, but it will mean I will probably keep it at least a few years-- until the dreciation curve flattens out a little-- before flipping it for a new one. In the end, I'm not sure if this is in Porsche's best interest or not. For e.g., if I could get something like $45-50K in a trade for mine (and eat something like $22K in depreciation) I'd probably flip it for a new one in the next year as a approach the expiry of the warranty, but to take close to a $40K hit after a year- year and a half...forget it.

Pauly90266

I thought the depreciation on 996TT is brutal. The CTT is just as bad, if not worse.

I wonder where the CTT's will flatten out.

leek

I don't think you can expect to buy anything new (which I prefer for various reasons especially with high performance vehicle) you need to take the long term view, I buy the cars and run them until I am tired of them or I think they are obsolete, generally about 6 years, 125K miles or so. I have had issues with my current car $10K expenses on $50K priced car over 100k miles and 5 years, but I am still probably better off than if I chased new cars (or prequallled used) every few years. I am concerned about reliability of Cayanne, but if I read this forum right could be a great selection for me in the next year or so... Thank you to all of the people that contribute here, Happy 07 from Seattle..

racer_65

I came into this game expecting depreciation, but I also came in knowing that:
1. Out of all the cars I could've bought, this is the one I want
2. I plan on driving it for far longer than a year
3. I don't want next year's model
4. I'm getting a good deal on the current MY -- I sure didn't pay sticker.

Thus, depreciation or no depreciation it's all academic.

turbo'S'

I have an April 05 Powerkit CTT which was $180,000 in UK Sterling equivelant 90k sterling.
Now with 13k miles on the clock I have been quoted $106,000 or 56k sterling trade-in. I could not believe how bad a drop that was! I will likely keep it till the price levels out a bit and get more use out of it.

Targa Tim

I wonder if the big drop is due to facelift model coming out. I remember when Cayenne first came out in mid-2003, the depreciation curve was very normal, meaning about 20-25% year 1, then 10-15% every year afterwards.

I plan to trade my 2004 CS (bought in summer 2003) for the facelift CTT. I expect about 40% or more of residual left, which is normal or good compared to other cars.

mrpc12

I bought a 2006 CTTS for $117K ($125K MSRP) and traded it in for $82K 6 months later with 5K miles. It's still in the dealers inventory on their website for sale at $89K (CPO) 2 months later.

racer_65

Just curious, what was the reason you got rid of it after such a short time? Was there some aspect of the car you couldn't live with that compelled you to take such a loss?