Resale values stink!!!

I expected it, but I was still surprised at how low dealers are going for trade-ins on Porsches. Oh, well. I guess it's back to the original plan of keeping the C4S "forever". No more trade-ins. The GT3 will have to wait 'til spring next year.

Palting, Care to share?

Seeing the incredulous look on my face, the dealer was trying to justify his call based on the soft used car market and my relatively high mileage (15K miles). As we were talking, a guy that was on the lot looking at new Boxsters asked to look at my car, then offered $5G more than the dealer!! By then I was so turned off to this whole deal I just said a polite "No thank you".

There is a very good chance auto sales will dip another 15% given the cyclical dynamic of the industry. Wait until THEN, especially if oil keeps creeping upwards. Likely with the dollar in the tank.

I think it was bound to happen with the number of Porsches being produced now compared with the historical number. I see many more Porsches on the street now, especially in major Metro areas. That said, I still love driving mine every day and think they offer a great value- until you try to trade them in.

With you Fluke996, mine just clicked 30,000 the other day, will be 5 years in three weeks (I have the 4/98 beta release). Still not really interested in anything else in terms of sports cars.

Just for giggles, would you mind sharing what the dealer offered for a C4S with 15k miles? I'm assuming you have a 2002.

My wife just got rid of her BMW and did not do well. It is not isolated only to the Porsche market. The used car market is about as weak as the economy!

Hey Porschephiles-if the car still delights you-what more is there to say? Keep driving it-each day passes and damn love the damn car. My feelings never change : ). Regards. Mike

When I wanted to trade my 2000 M5 for a 2002, the dealer offered me 50k on trade. I still have it and don't regret the "No Trade". The 996 has just about 8k and I just feel that this dealer would try the same thing. It's going around. Have you seen airline ticket prices now compared to three years ago. Remember...it's all connected!

Just took the C4S out to my favorite twisty road just outside of town. Man, I love this car!! Sorry about the initial rant. I guess the dealer's offer just caught me off guard. Regardless of resale, I am STILL getting that 2nd Porsche next year, and keeping it "forever". <img border="0" alt="[burnout]" title="" src="graemlins/burnout.gif" />

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Buy used. I used to lease or only buy new in the past--bad idea. I will have a GT3 in a couple of years when the newness wears off and the 1st owner is 'done' with it. I reckon I saved close to $30k on my current car.

I learned these 996's don't go very high in the used market since the supply is just too much. Most of the 996 oversupply came from quick rich guys first time porsche buyers in 99-00 when they realized a year later that either it was too much for them or not very practical car. I was one of them in 01 and 02. I tried twice to sell the car for an acceptable loss but all the offers were insulting or discouraging. Compared to the 993's I think they held up their values pretty well.

"I learned these 996's don't go very high in the used market since the supply is just too much. Most of the 996 oversupply came from quick rich guys first time porsche buyers in 99-00 when they realized a year later that either it was too much for them or not very practical car." Yeah, I remember when I ordered my 01 in the summer of 00 that I did so because it was CHEAPER than buying used at the time! I'd have ended up paying MSRP or better for something not exactly what I wanted anyway - and it would be used! Oh yeah, and I sold my 993 cab that summer (in 3 days!) for $50 more than I paid for it 7 months earlier when I bought it used off the dealer (where I bought my present one new) lot! And, I had a back up offer at the same amount! Hint: the buyer's husband was an Intel employee if that tells you anything! Not a lotta of those guys in the market now. Maybe we should find out what the realtors and mortgage brokers are buying today and short the heck of it :=)

Ben, I also ordered my '00 996 specifically the way I wanted because it was better to wait 4 months, as even the regular 996's new or used had a 5-10k markup to regular price because so many people were getting them in 2000. A year later, I tried selling thinking I can get the same amount as list since that is the way the market priced them, but since nobody was interested and there was a big supply, it dropped 18k off my purchase price.

I think the problem is that Porsche leased the cars with such high residuals and now no one is buying them after the term is up. There is just a flood of 99's and 00's on the market. I would be interested in seeing if Porsche has dropped the residuals on the newest models or if they do that when the 997 comes out thereby making leasing less attractive and not watering down the marque. It will make for fewer sales but I can't believe Porsche dealers are not feeling the hit when the lots are full of 99's that cannot be given away. It is crazy to me that a low mile 88 911 Cab is going for roughly the same price as my 99 Coupe. It is ridiculous and I think it all goes back to Porsche. It's great the numbers were up for Porsche in 99 and 00 but it sucks for those of us trying to trade up now. Wait til the Cayennes start coming in off lease. I'll bet they are in the low 20's four years from now. It used to be that buying a Porsche was buying a guaranteed resale. I don't think that's true anymore. Sorry for my rant.

Palting, The dealer will low ball you on a trade in price and then probably will put your car on their lot for $5000 less than a new one.

Porsche has to some degree ignored the hardcore Porsche enthusiast over the last several years, with only the GT2, and now finally the GT3, aimed at them. Recently Porsche has mainly targeted the more casual buyer, which makes perfect financial sense. Adversely, it's mainly the true enthusiast that creates the kinda demand for used Porsches that generate higher re-sale values. I don't believe the more hardcore enthusiast is even looking for a regular 996 at current prices - they're all keeping their older models while waiting for GT2 prices to fall, GT3s or 997s. The more casual used Porsche buyer also isn't willing to pay $60k+ for a used anything, they'd rather buy new - maybe a Boxster or BMW. I expect regular 996 prices to drop even farther, especially with the 997 on the way.

John, I think you are correct about the lease thing. My friend who sells cars told me the same thing. </font><blockquote><font size="1" face="Verdana,Tahoma,Helvetica">quote:</font><hr /><font size="2" face="Verdana,Tahoma,Helvetica"> The dealer will low ball you on a trade in price and then probably will put your car on their lot for $5000 less than a new one.</font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">The dealer usually would give less than what they can get in the wholesale dealer auction which is already 10-15% cheaper than used market. Not to confuse these auctions with bankcrupt seized or gov. auctions, these are dealer only auctions that dealers let go of trade ins that they cannot sell in their lot. Food for thought...Mercedes dealers would buy first delivery SL55's for $5,000 over list + taxes from owners willing to sell back their car...WHY? Because I was told that MBNA has a strict policy not to let dealers mark up on sticker prices on their new cars. They would be able to do so on used ones, so then they jack up the price on the SL55 $20k. My dad ended up paying $150k for a $128k SL55 two months ago. The car only had 100 miles and was considered "used".

"Mercedes dealers would buy first delivery SL55's for $5,000 over list + taxes from owners willing to sell back their car...WHY? Because I was told that MBNA has a strict policy not to let dealers mark up on sticker prices on their new cars. They would be able to do so on used ones, so then they jack up the price on the SL55 $20k. My dad ended up paying $150k for a $128k SL55 two months ago. The car only had 100 miles and was considered "used"." but i don't understand, why do car dealers have such a bad rep? :-)

Agree with purchasing pre-owned only...I saved over $20k on a '01 C4 with low miles. I'm selling it already after just 7mo due family, but I am only losing about $5k. Not bad. I also concur that the Cayanne is going to be fairly cheap to purchase used in 2 years. I dont think the quality will make the vehicle worth the depreciation though.

I would personally never buy a new Porsche unless it had an awesome lease rate (not likely). I bought my 2001 Turbo used and I saved $31K off new sticker! It only had 8,000 miles and was immaculately clean inside and out. Don't tell me that's not a great way to buy a car! Also, if you guys think that Porsches are selling cheap, you should try Audi! I bought my 2001 A6 Turbo for around $45K. 20 months later I traded it in for the Porsche and I got $26K. So with my payment and depreciation, that stupid Audi actually cost me $1600 a month + gas & insurance. What the hell is that about??!?!? <img border="0" alt="[cheers]" title="" src="graemlins/beerchug.gif" />