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Current Taycan owner so as you can imagine this is a hot topic for me.
In the market for a new 2024 Cayenne. Brought up the depreciation topic to my salesguy and he said the deprecration between various Cayenne models isn't that different (about 10% per year)
Even though I would be satisfied with an S, his comment got me thinking and made me spend an afternoon in the configurator. Sure even though the Turbo (40k) and Turbo GT (75k) are way more expensive, the added costs of 10% deprecation ('just' 4-7,5k/year) definitely make it worth it for me. Add to this that I will purchase the car for my holding company I can deduct it from my profits and where I'm from they're taxed at close to 50%, so in the end it's a only a couple k per year.
THAT IS IF HE'S RIGHT!
But is he, or do top models depreciate faster/slower than base/S models?
Current Taycan owner so as you can imagine this is a hot topic for me.
In the market for a new 2024 Cayenne. Brought up the depreciation topic to my salesguy and he said the deprecration between various Cayenne models isn't that different (about 10% per year)
Even though I would be satisfied with an S, his comment got me thinking and made me spend an afternoon in the configurator. Sure even though the Turbo (40k) and Turbo GT (75k) are way more expensive, the added costs of 10% deprecation ('just' 4-7,5k/year) definitely make it worth it for me. Add to this that I will purchase the car for my holding company I can deduct it from my profits and where I'm from they're taxed at close to 50%, so in the end it's a only a couple k per year.
THAT IS IF HE'S RIGHT!
But is he, or do top models depreciate faster/slower than base/S models?
I bought a MY20 heavily-optioned CPO S from a certified Porsche dealer with average per-year mileage in 2022 for almost 20% annual depreciation vs MSRP.
TGTs have a cult following like G-Wagens and imo a large bid ask spread. Buying from a dealer you will pay up. Buying a high end model from a private party is risky business. Selling to a dealer you will get skinned.
Look at finder.porsche.com at 2022 and 2023 Turbo and GTS listings and compare asking price vs MSRP. This is a good way to guesstimate depreciation. It gets you in the ballpark.
As a retail seller you will not receive the prices you see on website listings. Rather you will receive a price 10%-20% lower.
Current Taycan owner so as you can imagine this is a hot topic for me.
In the market for a new 2024 Cayenne. Brought up the depreciation topic to my salesguy and he said the deprecration between various Cayenne models isn't that different (about 10% per year)
Even though I would be satisfied with an S, his comment got me thinking and made me spend an afternoon in the configurator. Sure even though the Turbo (40k) and Turbo GT (75k) are way more expensive, the added costs of 10% deprecation ('just' 4-7,5k/year) definitely make it worth it for me. Add to this that I will purchase the car for my holding company I can deduct it from my profits and where I'm from they're taxed at close to 50%, so in the end it's a only a couple k per year.
THAT IS IF HE'S RIGHT!
But is he, or do top models depreciate faster/slower than base/S models?
Just to give you an idea, I purchased a new 2023 Cayenne Turbo (non-coupe) in June 2023. MSRP was 169k. A few months later (November), I went to potentially trade it in for a Panamera Turbo S and was offered $120k-$128k. That was crazy and a sales manager told me the Cayenne Turbo models (he included the GT model as well)get hit the most with depreciation. Not sure about GTS.
Data from CarGurus. 2023 values are relatively flat at the moment. A challenge with the data is the TGT price which is so much higher than others it skews the data.
The finder.porsche.com example above suggests precipitous depreciation. The cargurus data below suggests values are holding. I would put more weight in the finder.porsche.com listing - this is the market and the price a unit of product would be exchanged for to a buyer.
Current Taycan owner so as you can imagine this is a hot topic for me.
In the market for a new 2024 Cayenne. Brought up the depreciation topic to my salesguy and he said the deprecration between various Cayenne models isn't that different (about 10% per year)
Even though I would be satisfied with an S, his comment got me thinking and made me spend an afternoon in the configurator. Sure even though the Turbo (40k) and Turbo GT (75k) are way more expensive, the added costs of 10% deprecation ('just' 4-7,5k/year) definitely make it worth it for me. Add to this that I will purchase the car for my holding company I can deduct it from my profits and where I'm from they're taxed at close to 50%, so in the end it's a only a couple k per year.
THAT IS IF HE'S RIGHT!
But is he, or do top models depreciate faster/slower than base/S models?
There is another type of depreciation to consider, and that is depreciation for federal tax purposes, since you mentioned your company deducting the cost. I recall reading an article about the Turbo GT some time ago, and I noticed that its’ gross vehicle weight rating was under the magic 6000 pounds level, whereas all of the other Cayenne were rated over 6000. I’m not a tax expert, but it has been my experience that if your vehicle is rated over 6000 pounds, and you satisfy the other criteria, then you can expense your vehicle over a much shorter period of time, thus saving a lot of money right away.
Cayennes depreciate like stones, like pretty much all German SUVs. The more expensive the Cayenne, the more $ you will lose. Just part of the game we all know going into it.
When we were looking for a CPO in Jan 23 the Turbo cars were about 5 or 7k more than a GTS with similar options, mileage and age, but the original MSRP of the Turbos was usually 20 to 30k more than the GTS cars.
When comparing depreciation values I always look at percents as dollars will be greater for higher list values. In the past Cayennes have been as high as 50% depreciation at 4 years.
Bought my 23 turbo in feb 2023 fully optioned for about 185k, put about 17k miles on it in less than 1 year and traded it in for about 125k (had to beg for this too) - thats real world. It's currently sitting on the lot for what I traded it in for. I'll never buy another new cayenne, don't regret it though.
Bought my 23 turbo in feb 2023 fully optioned for about 185k, put about 17k miles on it in less than 1 year and traded it in for about 125k (had to beg for this too) - thats real world. It's currently sitting on the lot for what I traded it in for. I'll never buy another new cayenne, don't regret it though.
This was my experience as well. 2023 Turbo. Mine was close to $170k and had to beg for ~120k and mine only had 5k miles.
I just got an unsolicited offer for my '21 S from the local dealer that was right at about 60% of original cost. Carfax estimate is within a few hundred dollars of the dealer's offer.
I just got an unsolicited offer for my '21 S from the local dealer that was right at about 60% of original cost. Carfax estimate is within a few hundred dollars of the dealer's offer.
16% annualized depreciation. What was MSRP on your S?
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Cayenne Models Depreciation
