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    What the heck happened to resale values?

    So, I'm still in the market to upgrade my beater '06 IS350 -with all options (from 07 X5 to RS4) I pursued, I will take it in the shorts with my trade.
    Reading this board and others, I see just about anyone with a 997 that wants to upgrade to a Turbo is in the same predicament. Seems like to dealers when trading in, the car is worth nothing, but when it comes to reselling it, they want a premium...almost makes me believe stealers are making more money on used vehicles than new...
    And their first point of reference is Mannheim - they don't care about how the trade is optioned - so, a buddy runs me Mannheim results for 06 M5's on the West coast - they varied from $58k to $70, bringing in an average of around $62k - a local dealer wants $85k for an '06 M5 - wtf are they smoking?
    I think my best option is to get a good lease for the beater and not have to worry about resale values...
    Sorry for the rant, but I was irritated with an Audi stealer last night...

    Re: What the heck happened to resale values?

    Quote:
    WetTT said:
    So, I'm still in the market to upgrade my beater '06 IS350 -with all options (from 07 X5 to RS4) I pursued, I will take it in the shorts with my trade.
    Reading this board and others, I see just about anyone with a 997 that wants to upgrade to a Turbo is in the same predicament. Seems like to dealers when trading in, the car is worth nothing, but when it comes to reselling it, they want a premium...almost makes me believe stealers are making more money on used vehicles than new...
    And their first point of reference is Mannheim - they don't care about how the trade is optioned - so, a buddy runs me Mannheim results for 06 M5's on the West coast - they varied from $58k to $70, bringing in an average of around $62k - a local dealer wants $85k for an '06 M5 - wtf are they smoking?
    I think my best option is to get a good lease for the beater and not have to worry about resale values...
    Sorry for the rant, but I was irritated with an Audi stealer last night...




    Dealers frquently /more often make more money on used cars . The used car buyer doesn't have equivalent " new car invoice " printout ( even internet info on " secret " factory hood money or trunk money) in hand trying to buy new car at invoice plus $500 ! I.e., buyer has no clue what dealer paid . Plus , dealer can use smoke and mirrors regarding used car's condition/mileage/options/color combo etc. to divert comps for similar cars elsewhere . Dealer in driver's seat all the way on used car sales .

    Re: What the heck happened to resale values?

    since I have a friend that owns a dealership, not a Porsche though, when I wanted to sell one of my cars he told me a price that made me furious so I searched somewhere else and I found a really better deal...

    dealers usually make 1k for small town cars and for premium cars like Porsche etc they make at least 10k...in order to do that they basically rip off the ones who trade their cars for a new one and then they do some extra ripping off to the potential used car buyer additionally, when the car is 1-2 years old, they don't change anything...just resale it and get the premium...

    down here they even change the mileage indication...there was this time when a guy visited my friends and he had a Merc he wanted to exchange...he told them he had bought it used and had the car for around a year during which he made about 20k kilometers with it so the car then had something like 40k kilometers on the speedo...yeah right!!! they took it to a Merc dealer, plugged it into the computer and turned out that the car actually had more than 200k kilometers!!! what had happened??? a "smart" dealer bought the car from Germany, we import many used cars from there down here, at a ridiculous price obviously since it had so many kilometers on it, "improved" the speedo indication by something like 160k, and sold it at the regular used price...imagine how much did he make from that...

    Re: What the heck happened to resale values?

    Nobody seem to want used car these days anymore...

    Re: What the heck happened to resale values?

    Quote:
    SciFrog said:
    Nobody seem to want used car these days anymore...



    Unless it's a two-month old MBZ S65 for half off it's orig $190K MSRP !

    Re: What the heck happened to resale values?



    I was looking at some 1-2 year old AM DB9, they were over 30% off MSRP from a reseller. Amazing. You think Porsches are bad, it is worse elsewhere, even for a Ferrari with the premium (that is unless you sleep with the wife's dealer...)

    Re: What the heck happened to resale values?

    Quote:
    MKW said:
    Quote:
    SciFrog said:
    Nobody seem to want used car these days anymore...



    Unless it's a two-month old MBZ S65 for half off it's orig $190K MSRP !



    You can get it for half that in the US? Might be worth importing back here...

    Re: What the heck happened to resale values?

    Quote:
    Crash said:
    Quote:
    MKW said:
    Quote:
    SciFrog said:
    Nobody seem to want used car these days anymore...



    Unless it's a two-month old MBZ S65 for half off it's orig $190K MSRP !



    You can get it for half that in the US? Might be worth importing back here...



    Dealers typically want 7% spread (not surprising why many major, multi-store US car dealers tend to be prominent NetJets custs...and why there's an interesting jealousy dynamic btwn the modestly-salaried US distributor execs and major US car dealer owners ); but resale value calcs depend upon specific car/timing within car's "coolness" or product life-cycle/relationship w/dealer/specific mkt/lease vs buy, etc etc.....

    In recent past, have traded in 997TT/65/600/550/G etc at rather robust trade-in values ....but my worst trade-in was a loaded 996TTS for 67% MSRP w/<5K mis, <1 yo ....many factors at play....

    Crash, like your arb thinking ....when I was a kid during The Bubble, knew shrewd pals (whose day jobs involved arb trading anyway ) who would $0-down lease hard-to-get CL/S/E55s in NYC region; truck them to a pal in CA; and make a few $K on a quick flip (in the much tighter CA mkt), even after driving each car a few 100 mis....arb games are indeed fun when they work and risk/reward makes sense....and arb helps correct silly inefficiencies of mfrs shipping cars to mkts where demand is not as robust.....easy to do within US; tougher btwn US and EU (though my L salesguy managed to ship my G to Lond for a robust price, just as US mkt for G's crashed, yet Lond was still starved for them )

    Re: What the heck happened to resale values?

    Heavily optionned cars will get killed on a trade in, and the younger the car is, the worse.

    If you often change cars, you better stick with as close to stock as possible. That's why I hate Porsche bringing the powerkit and/or PCCB and not calling it TTS. I would get a TTS but I would never buy a standard TT + PCCB + powerkit...

    Re: What the heck happened to resale values?

    Quote:
    SciFrog said:
    Heavily optionned cars will get killed on a trade in, and the younger the car is, the worse.

    If you often change cars, you better stick with as close to stock as possible. That's why I hate Porsche bringing the powerkit and/or PCCB and not calling it TTS. I would get a TTS but I would never buy a standard TT + PCCB + powerkit...



    So very true ! Some options make a car sell easier but getting more money , no way.

     
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