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YOUR RESEARCH996 Pricing
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Check wrong box in a menu somewhere
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Somebody at your insurer checked the wrong box in a menu somewhere.
Leading evidence: 'Check wrong box in a menu somewhere' (no explicit attributable resolution; this is a reported action or suggestion). Across 1 matching discussions, the most frequently mentioned possible cause is 'even high mileage, well cared' (1 discussions; 0 report identifying it and 1 suggest it). The most frequently discussed action is 'Check wrong box in a menu somewhere' (1 discussions). For that action, 0 discussions report a resolution and 0 report an unsuccessful attempt. No action has an explicit, attributable resolution report under the current rules. These are forum reports and suggestions, not a confirmed diagnosis.
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I have always used the sold listings on ebay as a barometer of prices.
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I suspect even high mileage, well cared for 996s will start commanding $19k and up in two years.
Clean cars are less common and prices are definitely rising
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Suggestion
The youngest of the cars is now 12 years old and the low miles clean cars are less common and prices are definitely rising.
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Suggestion
The low mileage clean examples still command good $.
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You might be better off finding the one you like the most based on condition, history, cosmetics, and then simply getting an LSD from any one of the recommended shops installed.
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Obviously you probably won't get full replacement value from your insurer, but to some extent insurance should protect you from rising costs should you have to replace your car.
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Suggestion
Crappy cars continue to lose value, awesome cars continue to have high asking prices; the average car that's actually changing hands is probably changing hands for around the same price.
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Suggestion
Crappy cars continue to lose value, awesome cars continue to have high asking prices; the average car that's actually changing hands is probably changing hands for around the same price.
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So I sold my 40th about 3 yrs ago, picked up a E39 M5 which was fun, sold that and moved house.
I liked the M5, but always missed the 911. So this year I'd like to get another one and maybe modify it a little as a fun street/track car.
I was thinking of trying to get an early 99 with an LSD, and when I had my car it felt like 99's were available for the low teens, yet having looked recently they seem to be in the high teens. And some in the 20's
Prices are lower in the winter, Nov-Dec instead of Feb-March. That, and they might be starting to creep up a bit. But I don't remember them ever being in the low teens? You can get them for low teens at an auction.
Awhile back I was trying to sell my 99 for $22k, but I refused to deal with low ballers. Put it in storage for the for the winter and have been driving a pickup truck for the past few months. Took it out today and it was hard to get the grin off my face. I'm glad I stuck to my guns and refused to lower the sell price. These cars are simply too good and too much fun to give them away. You might find some low priced examples out there, but it sure won't be mine.
I remember your 40AE, and probably should have bought it since I just acquired one! That car was insane.
The market does seem to have moved a bit since you sold your car, and the dealer from whom I bought mine seemed to feel like 996 prices have been and continue to be on the rise. That said, exceptional cars at reasonable prices are out there. Road Scholars had a low mileage '99 paint to sample car that sold for $23,500 inside of 24 hours.
Good luck finding a car!
I believe prices have creeped up just a little bit. I still feel you can find a very good 996 for $22k or less. High mileage ones will be out there for $15-18k. If you find a nice example in the high teens, I think that's fair. Here's the current market: Anything that is 1996 or older = insane prices. That wasn't always the case. Most of those cars (older than 1996) have now doubled in price (or more if it's a turbo or a 964). Then you go the other way 2006 and newer which are going to be mid-30's and up (sometimes less). I don't see much reason anyone should be accepting less than $18,000 for a decent, driving, maintained 996, even with high miles because there is no alternative at that price point. What else can the buyer get? A BMW M3? Sure, but that's not a Porsche. There is no direct substitute for a Porsche. Not the way it looks, not the way it drives, and not the 'exclusive' feel it conveys. I like the M3/M4 as much as anyone, but they look and feel more "coupe sedan" than sports car. Just my two cents.
Buying the cheapest 996 you can find could easily be your most expensive option. That $15k bargain can turn QUICKLY into anything but. Few cars can rack up $$$ than a 996 with issues. Get a thorough PPI and pay a little extra for a 100% sorted car.
My perception is that these cars are going up in price. Back in April 2016 I saw a pristine C2 at a local dealership for $15K. 10 months later similar cars are over $20K. I suspect that the run up in air-cooled prices over the past few years has made the 996 much more attractive to first time Porsche buyers.
I've been watching since September and I feel as if things are going upward a bit, as well. Private sales are still reasonable, but dealerships seem to be inching up. Most of the nice cars I am seeing here in the North East with mileage under, say 85k, are on the order of $23 or so with some higher. I have not looked at Coupes, just Cabs (a Cab is a requisite to keep the wife engaged in the process, lol).
The factory LSD on any 99 is likely worn out depending on mileage. You might be better off finding the one you like the most based on condition, history, cosmetics, and then simply getting an LSD from any one of the recommended shops installed.
IIRC - The 40AE LSDs weren't known to be stout either.
Asking price is not necessarily the selling price. But I can't imagine low teens would buy a decent (no stories/no needs) early 996. Keep us posted on your search and results.
Teens? Here's one in 4-figures!
And no worries because it runs "exceptional"
https://indianapolis.craigslist.org/cto/6010004228.html
Looks beat to hell
And this is huge part of the problem.... someone sells a POS car at a low price and suddenly all the values are dropping ? 996 owners need to unite and drive the price back up by not giving away these great cars.
I am hating that I keep seeing Aero kit 996 cars selling for like $17k, and then there will be a 996 convertible for sale for like $28k... my mechanic and I had this conversation last night. He asked what my car was worth and I laughed. I said you can find them from $16k - $29k.....Most broad range of pricing I have ever seen
Based on my post from 2 years ago:
Spreadsheet of most 996/997s for sale nationally
Sweeping Generalities coming in 3...2..1..:
I'm inclined to think we are either at the bottom or have already crossed it.
Low mileage, high documented models are up in price since 2015.
High mileage beaters are dropping but $15k is about the floor for anything worth considering.
I'm beginning to subscribe to the "there's no such thing as a less than $30k 911" group.
I believe the problem with the 996s is that they sold so many, and many are left in really bad shape and sold for cheap. This in turns lowers the overall value of the 996. The low mileage clean examples still command good $. Not expensive by any stretch of the imagination, but still a great bang for the buck sports car.
I thought this one that sold on BAT today would go for a bit more:
http://bringatrailer.com/listing/199...e-911-carrera/
IMHO, that gold-ish color doesn't do it any favors. But the recent service and otherwise good condition should have pushed it a bit higher...
Prices are definitely, slowly, creeping higher. You see it in the dealers first. The only 911 available in the $20s is the 996, end of story. The skyrocketing prices of anything 1997 or older can only have one result which is to nudge 996 prices higher. 996s will probably settle in the 20's for a long time and the range for one that's cared for might settle between 19k and 31k depending on year, miles, and model. I suspect even high mileage, well cared for 996s will start commanding $19k and up in two years. Low mileage examples will probably hold the mid-20s and higher. Very low mileage 4s low to mid 30s. Remember....eight years ago if I suggested an early 80's 911 with 145,000 miles on it that looked like it was a pizza delivery car the last 10 years was going to double in value from $17k to $34k I'm fairly sure my sanity would have been questioned.... and here we are.
The prices will never be much if any more than they are now. 996s are a car for old school enthusiasts at a time when the days of the internal combustion engine is rapidly coming to an end. Enjoy the best one you can afford and be happy you got in on the party before it ended
Just throwing in my two cents. I was looking for a 996 Turbo or C4S for over a year and I wanted one under 20k miles in pristine condition. You will not find the C4S with under 20k miles for anywhere less than 30k+. Even the one I purchased (12k miles) had multiple bidders and after purchasing it for mid 30's last month, I already received an offer for 1k more than I paid for it. IMO, the market for mint condition, low mileage examples will continue to be strong.
I heard the same thing on the M5Board regarding E60 prices and I managed to get thousands more than average price paid for same year vehicle due to the relatively low miles and documented maintenance history. The buyers willing to pay a premium are out there as long as the right example comes along.
I have always used the sold listings on ebay as a barometer of prices. For those interested, here is a link:
http://www.ebay.com/sch/911/10156/i....SB=true&_sop=2
On the low end there is a 2001 running C2 with 210K miles selling for $8700 and a 2004 C4S for $38K on the high side.
As someone who recently purchased a 996 and had been watching the market for the long time, the prices are all over the board dependent of condition, miles,etc. The youngest of the cars is now 12 years old and the low miles clean cars are less common and prices are definitely rising.
Condition and mileage are a broad spectrum and so are the prices.
I wonder if I can get $80k for my dodge Omni glh turbo? After all there is maybe a handful of pristine low mileage examples? Who cares if it's an Omni? They built tens of thousands more 996's yet you have a few on here that think those are gold
You can sell anything at any price as long as someone is willing to pay it.
Looking on Ebay completed items there is an auction for a Shelby with 24K miles that couldn't get $20K so $80K maybe a stretch of course unless you find that buyer that has been feverishly looking for a GLH turbo with $80K burning a hole in his pocket.
http://www.ebay.com/sch/Cars-Trucks/...turbo&_vxp=mtr
They built thousands of 993's yet people are willing to pay astronomical prices for them. It has nothing to do with number of units built. It's supply and demand. What was stated is market value. No one said anything about $80k or anything out of the ordinary.
Not sure how much faith to put in Hagerty's numbers, but their data shows that we might be still at the bottom. Prices for outstanding-quality cars have been on the rise for the last 1.5 years, while "good" and "fair" cars look to have bottomed out about 1 year ago and been flat ever since.
I started watching prices pretty closely around September of 2015 before buying my car, and I haven't seen an appreciable change since then. Crappy cars continue to lose value, awesome cars continue to have high asking prices; the average car that's actually changing hands is probably changing hands for around the same price.
I have noticed a slight upward trend in asking prices in Panorama classifieds, but those folks might be pretty optimistic.
+1 you'll be much better off with a Wavetrac for street use or an OS Gikken for a track car.
I agree. If my '99 gets totaled I love the idea of being able to go out and buy another one for mid to high teens. If they have appreciated to 30k by then I'm probably moving on to something different.
I see no value in a 996 except the fact I like them. Thankfully most people including the Porsche market see no value in the 996 either. And my comment makes sense to 100% of people that understand it
What about insurance? Obviously you probably won't get full replacement value from your insurer, but to some extent insurance should protect you from rising costs should you have to replace your car. I think I'd rather have a big resale value when I sell the car rather than a low replacement cost if I crash the car. Power of positive thinking!
At what point did I state these cars were worth 80k or anywhere close to it? I mentioned going rate for a pristine, low mileage C4S demanding mid 30's - 40k.
Nice we had a spreadsheet earlier in the thread. I did something similar before I purchased mine, but completed the statistical analysis with a determination of the R^2 value. I didn't publish it, or even use it because the R^2 came up pretty lousy.
Of course, stats people will usually reference 'gigo' theory when the R^2 value doesn't measure up. I guess plenty of truth to that in my case as well. Frankly, the poor fit of the data analyzed also says something about the case, as my stats prof used to say. What it says to me is that buying a Porsche 996 is very much an impulse type of transaction. There are sales in the very low teens, and then there are sales in the high 20s, and not all of the variance can be attributed to the difference in options, condition, mileage, and the other typical independent variables present.
There is an element of stochastic chaos involved in the selection and purchase of a 996. For me, I had the money, had the idea I wanted and when it showed up - 'bam!' I grabbed it. In fact, I had to buy it while I was out of the country on vacation. If it were priced $3k higher, I still would have bought it.
The car has been irreparably stained by the IMSB, and '50 way to lose your engine' problem. The market knows only one thing for sure, and they know it cold; 'hey, isn't that one of the Porsches that blows up the engine every 3000 miles?'. Not fair, and not true in all cases, but the damage is done, and there's no going back.
I suspect we are at the nadir of values, and that the curve upward will be slow, and quite flat. But, that's just my guess, and not backed by any stats on sales or prices.
I have a 1999 C2 with Aero Kit and 65,000 miles. I have an agreed value insurance policy for $20,000 value on the car.
So my Insurance company calls the wife to arrange a visit to the house to "update their documents regarding the condition of the 996 and the garage".
Yesterday I receive an email telling me they have reviewed the car and established a value of $36,300 for the car and my rates will be going up due to the valuation! 1) They lied to my wife for the reason of the visit, 2) How in the hell do they get a valuation of $36,000!!!!!!
I told my agent they are smoking dope if they think my car is worth $36,000, and if they are correct I want them to find me a buyer NOW and I will go buy a Turbo. They claim NADA lists a value ranging from $37,000 to $48,000.
I love my car and will want the value as high as possible when I sell it, but they are artificially inflating the value to charge me a higher rate.
I think every other company will come in cheaper compared to that! $36K-$48K wtf?
On second thought, except their new valuation then make the car disappear
Awesome response.
Most reputable insurance companies won't use a single source for determining value. When I had my 993 valued, they included a nation wide search on Autotrader and Cars.com. Of course, in my case, I had the opposite problem... convincing them that their valuation was too low!
"they have reviewed the car and established a value of $36,300 for the car "
See, this is exactly what we need. Bring the value of the 996 back up and all is good. Love it.
This HAS to be a clerical error, right? Somebody at your insurer checked the wrong box in a menu somewhere. Either the wrong year, model, etc.
People make mistakes. My dad ordered an Audi A6 with the V6 gas engine. Sales guy ticked the 3.0 TDI box by accident, and now my dad drives a diesel. Oops.
It'll buff out! Fuse pulled to keep the mileage down?
Lol, Listed as "Condition Good" this is the most neglected 996 I think I've ever seen. But, it's got potential!!!
And, unlike any regular Carrera it has the hollow force air induction wing which forces air into the carbon fiber twin air filter cold air intake.
Sweet.
Lol Woodman...honestly for 5 or 6k it might be worth buying for the exhaust, CAI and then part out working parts that are not in terrible shape like the seats overall that might be one of the worst 911's I've seen (running and being driven) - talk about rice/ghetto or w/e you want to call it.
That makes zero sense. If it is agreed value it doesn't matter if their assessed value is above the agreed value, your premium should reflect the agreed value.
If, however, you tried to insure a 1997 Camry for $20,000 agreed value and they assessed it at $126.87 I'd expect a much higher premium. Something in the $19,873.13 range.
Wow, yeah. I usually run away as soon as somebody says "break" instead of "brake", but this guy gives like 100 additional red flags. Also it's a "triptronic", which is pretty sweet. Goes on trips by itself maybe?
Dumb question: where's the oil filler neck in that car?
All in all though, looks like a good parts car!
hahahaha.... that's funny... goes on "trips" by itself!
hahaha
Yea, at $6,000 at least the owner is realistic and fair given the condition, but I'd give a good guess that you'd be looking at least $15K to resurrect this one from the dead. You'd easily spend $10,000 on a paint job and interior repair alone. If the motor has the common M96 problems, then OUCH... train wreck my friend!
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