Trade-in offer for my GT4: thoughts?
01-16-2019, 10:53 PM
#31
Well, owners/sellers always have a different opinion than buyers. As a data point, I paid $84k last month for a $90k MSRP (w/buckets) with 9k miles that had meticulous maintenance and $5k in high quality track mods (same as I would have done) but needed tires and touch up on two wheels. I think the seller and I both did well considering the market. He needed a buyer like me for that car and I was looking for a car set up like his. Win-win.
01-16-2019, 11:10 PM
#32
Nordschleife Master
I recently scooped up a nice GT4, and I freaking love the car. But, in order to qualify for a new mortgage and keep my old house as a rental, I need to shed some debt. I will have a renter in my old place paying 10% more than my mortgage+taxes, but apparently the mortgage underwriter deducts 30% off the gross rental income, which puts a bit of debt on my books. That, in conjunction with an zero-balance HELOC (which is counted as debt whether I owe money or not) pushes me toward a slightly riskier rate. Being conservative, I don't mind shedding the GT4 and getting another down the line. I really want to keep this house as an investment; I figure I will net $20k a year after fees and deductions, and that assumes no asset appreciation. This is a popular area and I expect housing to appreciate long-term: the average rate is 5.1% from 2003 till now. A few years of that, and I can buy whatever GT4 is current at the time!
Anyways, I just dropped by Park Place Porsche; what do you think of this trade-in offer?
2016 GT4
$104k build
full leather
9,700 miles
buckets (super clean! no bolster wear)
Existing CPO. No overrevs.
Good tires, no issues, full front end clear bra, no rock chips, just detailed: showroom ready the same hour I drop it off.
Offer is $70k. Does that sound right?
Anyways, I just dropped by Park Place Porsche; what do you think of this trade-in offer?
2016 GT4
$104k build
full leather
9,700 miles
buckets (super clean! no bolster wear)
Existing CPO. No overrevs.
Good tires, no issues, full front end clear bra, no rock chips, just detailed: showroom ready the same hour I drop it off.
Offer is $70k. Does that sound right?
01-16-2019, 11:41 PM
#33
PS Armorer
Rennlist Member
Rennlist Member
During my search, the discount from MSRP is not linear at the moment. It's $15k+ on the high option cars ($110k+ MSRP) and $5k+ on the low option cars (under $~93k) for equivalent mileage and condition. Some options are full value (LWB, duh), and some are about zero.
I'm overly analytical about this....I have spreadsheets 🙄. This isn't "feel." Not in the market to buy, and no car to sell. Just data.
I'm overly analytical about this....I have spreadsheets 🙄. This isn't "feel." Not in the market to buy, and no car to sell. Just data.
01-17-2019, 12:00 AM
#35
Advanced
two in January at auction sold for $78 and $86...dec three sold for $89 and $89...and $92,750 at wholesale auctions....4000-11000 miles....doesn't list equipment, or condition. just Manheim Dealer Auction results. No affiliation.
01-17-2019, 12:03 AM
#36
During my search, the discount from MSRP is not linear at the moment. It's $15k+ on the high option cars ($110k+ MSRP) and $5k+ on the low option cars (under $~93k) for equivalent mileage and condition. Some options are full value (LWB, duh), and some are about zero.
I'm overly analytical about this....I have spreadsheets 🙄. This isn't "feel." Not in the market to buy, and no car to sell. Just data.
I'm overly analytical about this....I have spreadsheets 🙄. This isn't "feel." Not in the market to buy, and no car to sell. Just data.
01-17-2019, 12:06 AM
#37
PS Armorer
Rennlist Member
Rennlist Member
Originally Posted by rpetty3
Jason you are dead on it plus CPO adds a bit more it seems.
01-17-2019, 12:19 AM
#38
Burning Brakes
There is a big difference between asking a dealer to buy your car outright or upgrading to a different model from them, trading in your car.
You’re going to see a different number from them for just selling them a car.
Your thread title says Trade-in offer... but you’re not trading it in, you’re asking them to buy your car outright.
No? Perhaps I am mistaken
You’re going to see a different number from them for just selling them a car.
Your thread title says Trade-in offer... but you’re not trading it in, you’re asking them to buy your car outright.
No? Perhaps I am mistaken
01-17-2019, 12:22 AM
#39
Rennlist Member
Why would the age of the car (negatively) affect the value of 2yrs of CPO warranty? CPO is 33% of the total remaining warranty for an almost new car (2 out of 6yrs remaining), while it’s 66% of the remaining warranty on a 3yr old car (2 out of 3 yrs remaining). If anything, a CPO should be more valuable on an older car.
01-17-2019, 12:37 AM
#40
Rennlist Member
+1, sometime Carmax will give you a better deal that just asking a dealer to bye it outright from you (i.e. not trading in for another model)
01-17-2019, 12:59 AM
#41
My experience with Carmax is they are usually higher than what a dealer will give you and less than retail. If I'm going to trade a car I'll always go down to Carmax and have them give me an estimate and then I have the dealer match it which invariably is two to $5000 more than the dealer was offering. On an M2 that I just traded on an M2C the dealer was going to give me 42 Carmax was 44 the dealer matched it. Carl
01-17-2019, 11:18 PM
#42
Rennlist Member
Thread Starter
There is a big difference between asking a dealer to buy your car outright or upgrading to a different model from them, trading in your car.
You’re going to see a different number from them for just selling them a car.
Your thread title says Trade-in offer... but you’re not trading it in, you’re asking them to buy your car outright.
No? Perhaps I am mistaken
You’re going to see a different number from them for just selling them a car.
Your thread title says Trade-in offer... but you’re not trading it in, you’re asking them to buy your car outright.
No? Perhaps I am mistaken
01-17-2019, 11:19 PM
#43
Rennlist Member
Thread Starter
My experience with Carmax is they are usually higher than what a dealer will give you and less than retail. If I'm going to trade a car I'll always go down to Carmax and have them give me an estimate and then I have the dealer match it which invariably is two to $5000 more than the dealer was offering. On an M2 that I just traded on an M2C the dealer was going to give me 42 Carmax was 44 the dealer matched it. Carl
01-18-2019, 10:38 AM
#44
They gave me 87 for my similar build in mid September with the same miles. $17,000 in 4 months only sounds like they've learned their lesson as it took them 2.5 months to sell it .
01-18-2019, 07:06 PM
#45
