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    Carrera S depreciation woes.

    Just found out from a reputable Porsche dealer that my $122k 2006 Carrera S purchased in March of 2006 is now worth $75-80k RETAIL! I have X51 and Aerokit on it plus a miriad other options which made it jump to $122k two years ago. It only has 14,900 miles as of now! To lose $40-50k in two years... I should have waited and bought the Turbo or GT3 but, of course, me the impatient one, couldn't wait a year not driving a new Porsche 911 even though I had an '87 Carrera to comfort me in the meantime.

    Re: Carrera S depreciation woes.

    Yeah, the flip-side of owning these cars is all about blowing money. Cutting losses. Stopping hemorrhages.

    Kinda goes along with the absurdity of having a car that will hit almost 200mph in a country (usa) where the speed limit is often only 60mph.

    Isn't all this "Not-An-Investment" stuff required by law to be written down and displayed _prominently_ at the dealership? Maybe you got a case if your's didn't display it?

    Nah..., I feel your pain. Traded my 06 997S for a 07 TT.

    Re: Carrera S depreciation woes.

    That's the problem with heavily optioned cars. After a couple of years most of the options don't count much toward resale value. The X51 and aerokit should help though.

    Re: Carrera S depreciation woes.

    Keep the car for many years (10-15) so that depreciation will be irrelevant. Many people own Porsches from the 80s and 90s and thoroughly enjoy everyday motoring in them. A 997 Porsche will last for at least 25 years and be fresh. On the other hand if you want to always have the new toy then you have to suffer the cost. If someone can afford an expensive car every few year it means that this person can also afford the depreciation. Otherwise don't sell soon.

    Re: Carrera S depreciation woes.

    Only way to somewhat save yourself is to get a CPO car that's low miles and about 18 mo old. New car smell is one of the most expensive things you can buy.

    Re: Carrera S depreciation woes.

    Yeah, I bought my 911 knowing full well the cost per mile of owning it would be appalling. But, so what? I actually look forward to driving to work in the morning! It's like flying around in a little jet plane.

    Re: Carrera S depreciation woes.

    It is a well known fact that costly option packages and aftermarket parts will add little to the resale value of almost any car, beyond the current book price. Expect zero to 10 percent, without regard to what the option is.

    In addition, lack of vital options like seat heaters, excessive aftermarket performance parts or mileage that would be usual in a normal car, can reduce the resale value and even make a Porsche difficult to sell.

    This can also be a real shock if a Porsche you intended to keep forever is wrecked or stolen and the insurance company will only pay wholesale book value.

    Re: Carrera S depreciation woes.

    Sell it yourself and add another 5K. That makes 37K in 24 months or 1.5K per month or 2.5 Dollars per mile. I think that's not too bad for a car bought new. But it seems better to keep it.

    Re: Carrera S depreciation woes.

    Tell me about it. Pounds72k in May 2006 new, December 2007 I was offered Pounds50k.

    Re: Carrera S depreciation woes.

    Hard lesson. Just make sure you're on the flip side next time buying a heavily depreciated one.

    Re: Carrera S depreciation woes.

    ouch i bet that hurts Rich ,Let us sell it for you.

    Re: Carrera S depreciation woes.

    Quote:
    SrfCity said:
    Hard lesson. Just make sure you're on the flip side next time buying a heavily depreciated one.



    Please can you tell us where to find a 'heavily depreciated' GT3....thanks..

    Re: Carrera S depreciation woes.

    Guys... just to let you know how it really feels... on December 26, 2003 I bought a 2004 996 Carrera 4S that was at the local Ferrari dealership with 425 miles only. It had been purchased at the local Porsche dealer in October, 2003 - only 2 months before I bought it from the dealer, as its owner had traded it in for a Ferrari. The car had a sticker price of $89,9xx.xx and I got it for $75,500, almost $15,000 less than the original owner had paid two months earlier. I should have learned from that, right? Well, no!

    I pre-traded the car in 2005 for $65,000 after 2 years of ownership and after I had put 20,000 miles on the odometer, for this 2006 X51 Carrera S that was specified the way I wanted it because I thought I'd keep it forever. I knew the car was going to depreciate, of course, who wouldn't know that? I just didn't expect it to be so much. By the way, the dealer also knocked $3000 (not much but something at least) from the sticker price.

    Anyways, I was just expressing some thoughts of how it felt to lose so much money on a car after just two years... I mean, it's the amount of a nice luxury new car ~$45,000!

    The moral of my story is that I should have kept the C4S which I bought with only 425 miles or waited for the Turbo or GT3 so that now, even if I were to lose a lot of money on depreciation, I wouldn't care because it would be the car I really wanted but couldn't wait a year without a 911. I do own a 1987 Carrera since new so I know about long term enjoyment also, don't get me wrong... something does bother me, though, about the differences between an M97 engine and the one in the Turbo, GT3 or GT2 that makes me wonder if my Carrera S is the "keeper" I really wanted or not.

    Re: Carrera S depreciation woes.

    Quote:
    spearsy said:
    ouch i bet that hurts Rich ,Let us sell it for you.



    Aye up Tony. Did you just join Rennteam so you could say that. I'll PX it for that CCR. Have you found me a White 997 GT3 yet?

    Re: Carrera S depreciation woes.

    Didn't want to say this but trading my 997S in for the TT made me realize that the TT has the HP/Tq Carreras should have for _road_ cars. Was worth the lo$$. Just bite the bullet and get the hotter car.

    Note: not trying to be an ahole here just telling y'all what I "learned" the hard way.

    Re: Carrera S depreciation woes.

    Quote:
    cibergypsy said: something does bother me, though, about the differences between an M97 engine and the one in the Turbo, GT3 or GT2 that makes me wonder if my Carrera S is the "keeper" I really wanted or not.



    I think you've got some sort of disease that you better get over right quick if you want to keep whatever's left of your money! If you waited and got the turbo, then 2 years later you'd wish you had gotten the GT2 because that's what you really wanted. And if you had paid $200k for the GT2 you would quickly start to think "man, for the same money I could have had a F430 or Gallardo, my true dream car."

    Now stop all this nonsense talk and go for a burn in that X51.

    Re: Carrera S depreciation woes.

    A 911 buyer will fit in one of these (in all I assume money is not an issue just different perspectives about it):

    1 - You want a new 911 and respect the value of money, and plan to enjoy the car a long time (10 years or more). Buy new.

    2 - You respect the value of money but you want to trade every 5 years or less - buy used and do not overpay for nonsense options.

    3 - You have no respect for money: Buy a new one every year.

    Re: Carrera S depreciation woes.

    They are quite simply a depreciable asset.

    When you order a car many of the available options will add zero to its trade/resale value...paint, painted bits, carbon bits, etc.....



    Re: Carrera S depreciation woes.

    Sorry boys but the last time Porsche and 'good' depreciation went hand-in-hand are the days of the 993. Since then, their focus of becoming the next BMW has them manufacturing cars at a record level. (with record profits)

    I don't have nearly the issue with that as much as the so-called innovation they are adding to their vehicles. No innovation + high profits = lost customers. Looks like their only way to continue the profitability (without adding innovation) is to introduce a new line of vehicle every 10 years.

    Re: Carrera S depreciation woes.

    Quote:
    ADias said:
    A 911 buyer will fit in one of these (in all I assume money is not an issue just different perspectives about it):

    1 - You want a new 911 and respect the value of money, and plan to enjoy the car a long time (10 years or more). Buy new.

    2 - You respect the value of money but you want to trade every 5 years or less - buy used and do not overpay for nonsense options.

    3 - You have no respect for money: Buy a new one every year.





    Oops, there's a fourth category:

    You have money and have _lost_ money and understand money and know how to make money. You're not that concerned about playing with _cash_ amounts..., of say..., I dunno..., less than us$100K?


    Re: Carrera S depreciation woes.

    Quote:
    MMD said:
    Oops, there's a fourth category:

    You have money and have _lost_ money and understand money and know how to make money. You're not that concerned about playing with _cash_ amounts..., of say..., I dunno..., less than us$100K?





    It does not apply. My premise is that money is not an issue... only respect for money. Your position above fits No.3 the "no respect for money" choice - therefore, burn your cash and buy one of these toys every year.

    Re: Carrera S depreciation woes.

    Quote:
    SoCalHoosier said:... No innovation + high profits = lost customers. Looks like their only way to continue the profitability (without adding innovation) is to introduce a new line of vehicle every 10 years.



    Agreed!

    PAG's current track is disastrous for true Porsche aficionados, and I predict, also bad for PAG in the long run, as the number of faithful customers inevitably declines. I'm no longer interested in current production models. Should I be interested in adding another 911 to my collection I will look closely at the used market, where excellent offerings (with low mileage) can be had at great prices.

    Re: Carrera S depreciation woes.

    You could always lease. That way you know what you're getting into from the start. The bad thing is that if you want to get of the lease it's a little harder to do.

    Re: Carrera S depreciation woes.

    Quote:
    JoeRockhead said:
    You could always lease. That way you know what you're getting into from the start. The bad thing is that if you want to get of the lease it's a little harder to do.



    Money wise, it would probably still be a push. However, the ease of mind that you would have, knowing that it isn't really your car would maybe allow you to enjoy it more.

    Re: Carrera S depreciation woes.

    Quote:
    911Dave said:
    That's the problem with heavily optioned cars. After a couple of years most of the options don't count much toward resale value. The X51 and aerokit should help though.



    Actually believe it or not a lot of people dislike the aerokit and will avoid cars with the aerokit.

    David

    Re: Carrera S depreciation woes.

    Quote:
    DavidSF said:
    Quote:
    911Dave said:
    That's the problem with heavily optioned cars. After a couple of years most of the options don't count much toward resale value. The X51 and aerokit should help though.



    Actually believe it or not a lot of people dislike the aerokit and will avoid cars with the aerokit.

    David



    Agreed! In addition, the X51 is so overpriced (for the pitiful performance gain) that that option is worthless on resale in my book.

    Re: Carrera S depreciation woes.

    Quote:
    cibergypsy said:
    Just found out from a reputable Porsche dealer that my $122k 2006 Carrera S purchased in March of 2006 is now worth $75-80k RETAIL! I have X51 and Aerokit on it plus a miriad other options which made it jump to $122k two years ago. It only has 14,900 miles as of now! To lose $40-50k in two years... I should have waited and bought the Turbo or GT3 but, of course, me the impatient one, couldn't wait a year not driving a new Porsche 911 even though I had an '87 Carrera to comfort me in the meantime.



    Thats not bad at all considering the mileage you have on your car. I lost $50,000 on my SL65AMG in 7 months of ownership and only 2000 miles.

    Re: Carrera S depreciation woes.

    Quote:
    Mike S said:I lost $50,000 on my SL65AMG in 7 months of ownership and only 2000 miles.



    And if you think that's bad, talk to a poor Jaguar sedan owner!

    Re: Carrera S depreciation woes.

    The lowest depreciating cars will always be the Turbo/GT2/3

    Mileage plays a large role also.

    Re: Carrera S depreciation woes.

    IMHO.... if you buy ANY new car, to use as a daily drive, you're going to take a hit on re-sale - fact of life!

    Isn't it better to accept that and choose one which will give you the best daily experience, enjoyment and satisfaction.

    In my case, I left Porsche when the 996 arrived and tried a new Lexus SC430. It lacked everything I look for in a car. .

    As soon as the 997 was launched I went straight back to Porsche and took a massive hit on the Lexus - and I mean MASSIVE. . I resented that because I hadn't enjoyed the car.

    With my 997S, I look forward to every drive and it's still getting better and better.

    Surely this is the yardstick against which to judge the overall situation regarding car ownership....

     
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