996 future pricing (deprc)

I am considering trading (or selling outright) one of my Porsches for a 996. I like the updated interior. Where do you expect pricing to be in a year or two for an early 996 coupe or cab? I have seen them as low as 39K w/ under 30K miles. Do you expect pricing to bottom out at that, or continue to fall into the low 30's or high 20's in the next couple years as newer models come out. I would like to buy now while prices are down, but am not ready to sell a car yet. Possibly if prices continue to fall over next couple years I will be able to hang onto my others and get the 996 also. thanks!

I have seen some say that they think the 996 will be the first uncollectible 911 since the 2.7L cars. This would imply a continual decrease in value. I'm not sure if I believe that. However, it may end up being the case, at least for the pre-facelifted models. I wouldn't be surprised if the lower end of the early cars was in the 30's consistently (about a 10k drop from today's prices) by the time the next model comes out. The 02+ models might do better, but time will tell. It's hard to guess at these things.

Horrible depreciation is all I can say. I have a car that I paid 83K and then added more than 10K (aerokit, GPS, exhaust, painted center console, AL pedals, red calipers, etc etc etc). All I can get in trade in is 56K which is about the same as a 60K sale to a private party. 33K for 2.5 years is just plain crazy in Porsche land. I've had every model since the 964 and never lost more than 5K per year, I even had a Boxster for free for a year, and this is just crazy!!!! Too many made and too unreliable I guess.... JM

Hi Todd, Not for sure where the bottom will be. It almost appears that the 996 has fallen into the same mold as the 924, 944, 968??? I am in the same boat as Jean-Marc, my '00 996c2 has dropped over $30k in just over 24 months. The problem is I really need to sell mine and get a 4 door car for work, but I will be her for a long time. I have learned that I will never buy another new Porsche, EVER!!! The days of the of the 911's holding steady are over. Scott

I am totally agree with Scott, buying a new Porsche ends up with loosing lot of money. Also some people spend money to improve their lease car. I think it is crazy to invest more money on a car that you don't even own... but if you finance the car that is a different story. Regards, Bill Karan

I agree with you guys about the depreciation. I don't know where the bottom is but the rate of the drop takes your breath away. I see a couple things happening. First, the used market seems to give $0 credit for most options. Base cars seem to sell for very close to what fully loaded cars sell for. So people who optioned up their new vehicles in 99 and 2K are getting killed on resale or trade-in. There can easily be a $30K difference between a base 996 and one that is fully loaded. Lesson learned: don't buy a lot of options, esp. all the fancy interior junk that PAG loves to charge unbelievable amounts for. OTH, performance options like M030 and X50 will probably be worth something in the resale market. Leased cars. I don't have any numbers but I suspect that the 996 was the first 911 to have a substantial percentage of its sales to lease customers. In the past, people bought Porsches and kept them for a long time. Now we have a significant portion of the total sales volume coming back onto the used market in 3 years. And given that there has been very little inflation in the new car prices, the glut of used cars has saturated the market and driven down prices. This will only get worse each year as the next crop of 3 year old leased cars comes onto the market and further depresses the resale of the prior model years. Bottom line: a Porsche is not an investment. It is an expensive depreciating asset. The depreciation rate will be higher for heavily optioned cars (C4S, GT2, X-50 and other unique cars maybe the exception but not for those who paid over sticker to get them). Karl

I am not nearly as pessimistic as you other guys. Take for example the fastest depreciating Porsche ever made--the 928. Today a 1993 to a 1995 example of the 928 is still worth from 30 to 50 K depending on mileage. That's on a car that's 10 to 12 years old and sold new for about what a Carrera does today. Why is it holding up now when early on it sank like a stone? That's because the performance of the car demands that kind of value. The performance of the 996 will steady it's price fall, especially as older cars turn over greater and greater mileage and the quality holds up. If the quality doesn't hold up, the decline in value will continue. But my bet is it will, and you'll see prices firm in the next year or three. <img src="graemlins/wave.gif" border="0" alt="[byebye]" />

[quote]Originally posted by Karl S: <strong>... the first 911 to have a substantial percentage of its sales to lease customersKarl</strong><hr></blockquote> Do you think this was the result of the dot-com bubble and that is why 996's are losing value so quickly? Just a thought from someone waiting for his C2.

Here is my guess: The 99-01 996 looked too much like the Boxster, there were very few Porsche diehards willing to admit that the 99-01 996s were doomed from the start because Porsche made a big mistake of making the 996 so much like the Boxster , so when Porsche came out with the 02 with the new headlights <img src="graemlins/jumper.gif" border="0" alt="[jumper]" /> to distinguish the 996 from Boxster the older 99-01 suddenly had very few buyers and lots of supplies (thanks in part also to the dot bomb) <img src="graemlins/c.gif" border="0" alt="[ouch]" /> . I am a good example to an individual who waited 1.5 years for the new '02 996 because I just couldn't see value in a $83K car with the front that is identical to the Boxster. Although, I have to admit that I am also concerned about Porsche "mass-producing" their MY02-03 cars now for the main purpose of increasing their bottom line. <img src="graemlins/cussing.gif" border="0" alt="[grrrrrrr]" /> So the '02s may also suffer the same end results as the 99-01 996s . Porsche needs to take some lessons from our rival F-cars in limiting their production and returning to the racing circuits <img src="graemlins/burnout.gif" border="0" alt="[burnout]" /> . My '02 is a keeper for the next 4-5 years, but if I see a serious downward trend and Porsche following the mass-produced Nissans, Lexus, Acuras, Mercedes (Chrysler),etc. then I will be seriously considering trading in the P-car for a F-car. Bocky '02 Carrera C2 coupe (son's)

Go back and look at what the MSRP was for any 964....I had a 1991 964 C2 with a CD player and the cost with taxes was approaching $70,000 in Dec. 1990....the 1998 C2S with sport seats, special paint etc., which I just sold had a MSRP of $74,600.....Well my 2000 C4 Millennium was right at six figures, but it only sold for $10,000 more that '98 C2S The relatively flat base line cost that extended into period where there were a lot of folks with a lot more money (together with leasing) jumped on a much improved Porsche....performance, easier to drive, great creature comforts and availability...I don't think a lot of these folks would have or could have bought a Porsche 10 or 12 years ago....The product changed, but the question raised about quality longer term will be the real acid test for the 996....I also agree that excessive options right now represent money lost forever. I don't know where the Boxster fits in, but it is a great sports car, albeit overpriced when new...I don't buy the ego arguement that the similar appearance is dragging down the prices of the used 996.....two completely different cars in my opinion...One more thing, I always hear the excuse of the dot.com bust....hell I've never owned a dot.com stock and a lot of folks I know tell me the same thing; however, we all own Porsches and most of us earned every dollar we have....but it is a big country, glad to be here and proud to be a army veteran on this day..........

So, with all of this said, do you think folks will continue to buy new Porsches with such a HUGE depreciation?

The depreciation will definitely plateu. Just like the older models. This is because there is a limit to how cheap a 320bhp car can get, providing as someone else said that the quality is there so the car can actually mature 'gracefully'. The fall is a bit steeper at the beginning due to the large supply of cars, IMHO. Not good for new owners, good for second-hand market.

Who cares about the depreciation????? Anyone that buys a Porsche, and looks at it as a financial investment is not thinking clearly. Emotional investment?? You bet!! How much is the thrill of walking into the garage and looking at that beautifully crafted machine worth?? Or sucking up a curve in 3rd gear?? Or all the stares we get drving around town?? To me..its worth it..I dont buy cars as an investment..these are toys..VERY expensive toys..IMHO....Cant wait for my TT!! <img src="graemlins/drink.gif" border="0" alt="[cherrsagai]" />

The boxster and pre-02 996 comparison did not deter me from buying a 996. I liked how the boxster looked but given the fact the boxster is a two seater- practicality of it prevented from buying one(have a wife and daughter) plus the power was a bonus. I loved all the Porsche lines but having the 996 as my first porsche I'm so used to the performance it has that I couldn't imagine getting into another older Porsche. I love my darn car and "grin factor" is 24/7 for me . That's all it matters to me- what the car does for you. Enjoy your cars!!!! Regards. Mike

[quote]Originally posted by TestnDoc: <strong>Who cares about the depreciation????? Anyone that buys a Porsche, and looks at it as a financial investment is not thinking clearly. Emotional investment?? You bet!! ...</strong><hr></blockquote> Couldn't agree more, BUT I must say ... it was the best investment I made in late 2000! I sold some telecom stock I would have held onto otherwise. So anything I can get for my car over about $1888.00 is pure profit! {BTW, I'm not selling ... actually looking for another one.}

This recent drop in prices is the MAIN reason why I am driving a 2000 Porsche 911. This car is never mistaken for a Boxster and the original owner I bought if from has already fixed all the TSB's for me. He was not very happy about all of the initial problems and losing 30k in just 2 years, but his unfortunate loss was my very fortunate gain. Nobody buys a late model car to make money, it is nothing but a money pit. I have been driving BMW's fo 10 years and this is my first Porsche, my dad has had several. I could not be happier with my 996, never liked driving the older ones.

[quote]Originally posted by TestnDoc: <strong>Who cares about the depreciation????? Anyone that buys a Porsche, and looks at it as a financial investment is not thinking clearly. Emotional investment?? You bet!! How much is the thrill of walking into the garage and looking at that beautifully crafted machine worth?? Or sucking up a curve in 3rd gear?? Or all the stares we get drving around town?? To me..its worth it..I dont buy cars as an investment..these are toys..VERY expensive toys..IMHO....Cant wait for my TT!! <img src="graemlins/drink.gif" border="0" alt="[cherrsagai]" /> </strong><hr></blockquote>That is my opinion, too. In fact I stopped investing anything to fit the car payment into my budget. Hell, is the stock market going to make me anything in the next 2-3 years? No. Will I enjoy my car tremendously over that same time, YEP!

Well Guys.. There might be a 996 in my future after all. Quite honestly I do not have the money to spend on a New Porsche. Although I would like to I can't begin to scrape up the money for a 996 and even if I could I would probably have to live in a box or dumpster down by the river to pay for it. Point is that while depreciation is bad for people that want to sell their cars it is not for two other groups. The keepers and lower income guys. For a keeper it really does not mater what the value of 996 is after 2-3 years. Who cares. You planed on keeping the car for 15-20 years anyway. The point is moot. For us Low income guys is GREAT news. I means that we might be able to afford one one day. My 944 Turbo S is great example of depreciation to MY advantage. In 1988 My car sold for $47,000. That is alot of money now and a whole lot back then. In feb 1997 I bought that car for $12k with 90k miles. I absolutely love that car! It is by far the best performing car for $12k around. Now of course the car is worth about $10k. No big deal as I have no desire to sell. Also my parents got 91 928 S4 last year for 24k with 46k miles. Those things new went for $80k. Thanks to depreciation my parents I have wonder sports cars for the price of "regualar" cars. Buying any new car comes with it a depreciation hit. It does not matter if it is Porsche or any other maker. Yes the amount may vary and it might be more than you expect it to be, but if you bought your car for the long haul you will be fine. If you bought it for YOU then all the fancy options and extras are not so bad. Since you have no intention of selling the car does it matter? If you enjoy the hand stiched leather dash then fine and you got your money's worth.

The only reason that the 928GTS are worth so much is because very little were made(less than 120 imported for 94)and only 69 in 95. This is not the case with the 996. The more they make, the less they will be worth in the long-run.

I have been looking for a 996 99-01, and have never seen any for as cheap with the milage that the originator of this post has seen. Where can I find such a car? The typical market price as I have seen, which is a good deal is about 50k for an 00 with around 30k miles. If you have seen better tell me where. I use autotrader.com, and cars.com as well as looking at the classifieds on here as well as roadfly. thanks. Sean

I saw a yellow 996 w 30K on the odo for 39K even not long ago. Have seen others in the 40's

Let's go back to Todd's original post. Todd, you list 3 very nice P-cars in your signature. Which one would you give up for a 996? <img src="confused.gif" border="0">

That is exactly the trouble. Originally I figured I'd sell but I just couldn't do it. I would like to buy a 996 now while prices are down, but if they stay this way, in a couple of years I can just buy the 996 and keep everything else. I must have some kind of disorder.... But, I'd say the Envoy would go and I'd go for a Carrera 4 coupe for the weather.

Hi Todd, Why not get a late 993 S ? In the UK the 996 prices are dipping below 993 prices. Seriously though if you want a 996 try plotting the "hockey stick" depreciation line. All models go down so far and then bottem out and start picking up. In this way I made �1,000 on a �13,000 3.2 a few years ago and if I had it more I could probably get the same money now. If I was getting one I would track prices and look for the next plateau (e.g. 993s sat at �30k minimum for years and are now softening to �26/27k and I think rock bottem will be �25k before they start slowly gaining again). 996s still seem to be heading down over here but at a certain point they will settle. It's the same as the overlap between 3.2s and 964s. To sum up - wait and see. You have some great toys to play with so why hurry? Cheers, David <img src="graemlins/beerchug.gif" border="0" alt="[cheers]" />

I got my 2000 C2 cab...lots of obs...for 58K.... I love this machine...I drive it every day...it is my only car. I drive in perfect conditions everyday..Abu dhabi never (almost) rains. Great roads. I would not trade this car for anything...do I care if it is worth 30K next year...Nope!!! I would not trade this car for any other exotic...no other car acn do what I need this car to do and still give me the Ya Ya's everytime I get in it.....Also if you keep waiting for the prices to bottom you are just losing days you can drive these great cars...And the 993 is not in the same league...good car but very unrefined..the 996 is a "super" car....IMHO <img src="graemlins/a_smil17.gif" border="0" alt="[blabla]" />

Caveman...I already have a late model 993 S. dacomovi ...I don't agree the 993 is not in a league with the 996. They are quite different, but the 993 is no slouch, and many feel it is better than the 996. Both excellent cars. My poat wasn't about value, and garage queens ect. What I am saying is I like the 996 and would like to get one soon. with the dip in the economy, and cars coming off lease, now is indeed a good time to buy. But, I can't get a 996 and keep my other cars right now. So, my dilemma was after the economy pics up again, and possibly the 996 proves it's durability prices may indeed rise. Or, possibly they will continue to fall if they prove not durable (long-term), and as the "new" 997 arrives in 1.5 years, as well as possibly a C2s. I was asking for opinions as to possible future value, so if the prices may continue to fall, in a couple years I could add a 996 to my collection and still keep the other cars which is what I prefer to do. However, if the general concensus was the recession was the cause and in a few years prices would be up if the 997 wasn't liked then I will sell a car now and buy a 996 now...