Potential New Car Purchase

A local dealer has a new, never sold 2004 996 Cab for sale at a heavily discounted price. It is a pretty basic car without alot of options - just upgraded wheels, power heated seats, HI-Fi sound, zenon lights, etc. Any thoughts on the wisdom of buying (or trading for) a 'new' car that old? I realize there would be the depreciation issue, but I would appreciate any insights on things I shouls consider.

How heavy is the discount?

Is it a C2 or a C4? If a C2, does it have PSM? You can't add it after and although it is a personal preference, I would not buy a car without it. Lastly, although a small thing, you are in Il - Does it have heated seats. To me this is a "must have" for a cab.

It does have both PSM and heated seats.

If it has all that stuff and you can get it at a good price, go for it. It will have the full 4YR/50K mile warranty. I would price against a low mileage '04 and add a little extra for being new. Just make sure that it wasn't used at something like the Porsche Driving Experience and that is why it is "new." How many miles are on it?

Pretty much none - about 40 or 50 I think. Pretty much a few test drives and the delivery miles. I probably put 10 of those on myself!

It's hard to advise further without knowing what their asking for the car.

When it comes to pricing, remember that an '04 car with no miles is still a used car. It is NOT a new car and should not be priced like one. The car has already depreciated since it's a past model year, and you shouldn't have to pay for that depreciation, the dealer should.

Plus how many miles ? If "new" mileage is high would think it could be many test miles. Something seems odd it sat for so long.

The car has a sticker of $87,080. Asking price is $73,900. Miles are around 50 - possibly a few more as I drove it for about 10 miles or so a few days ago, so it doesn't appear to be a demo car or one that was used as a corporate vehicle. It's Arctic Silver/Black and fairly plain as far as options, so I guess it's just one that never sold from the '04 model year - not eye catching enough maybe. So it appears that the dealer has priced in a good amount of depreciation. I realize that as soon as it leaves the dealer lot it is a used car, with all that entails. But it would have a new car warantee, which in view of the RMS issues is probably a good thing. I wonder if there could be any long term problems with a car that sat so long?

If it was me (not that it applies to you), I would wait for a used 05 to be in your 74K price range. A 2 year old 04 for about 74K seems high imo.

Crack open autotrader and find the average for all cars under 10k miles. I'm thinking this is a good deal, and you will get 4 years of warranty.

$74k seems high to me too. Consider this... I recently saw a 40th Anniversary (which of course is an '04) with @ 5,000 miles listed at $69,950 (most likely sold for less). As was stated earlier.... At this point, model year is primary, mileage is secondary. If I were you, I would bid $66.5k for the car, and pay no more than $68k. Keep in mind, there is a reason why the dealer still has this car on his lot... He's got it priced way too high. You've got absolutelty nothing to lose by lobbing in a low-ball bid. Good Luck, Matt

Don't forget a lot of the 40ths (with a 90-93K sticker) were subsidized by PCNA and sold for 18-20K off of MSRP. On this 04 Cab, I'm thinking about the same as MJM - 20k off MSRP makes it about 67K - say 68K max and I think its a decent deal. But it might be worth considering a used 997 too, unless you've gotta have a cab, in which case you will have to wait a while.

Average depreciation on a car is in the 14% - 18% per year, depending upon the car. In a month or so, right after the official launch of the '06 models, this car will be two years old. Even if you use a lower depreciation rate of 10% (from a car that holds its value better than most like a BMW), the car is worth about $70,500 (87,000 X 90% = 78,300 X 90% = 70,4700). I was looking at a new, untitled '04 C2 (AS/Black) Coupe in February of this year. It was not heavily appointed and sticker was $76,500. Dealer offered it for 64,500 or 15.7% off sticker. I didn't like the interior color and the minimal options, so I passed on it and kept looking. I found my Lapis Blue car a month later - more potions, 6,400 miles, and $2,000 less. Orig sticker was $81,175.

My thought is to get a cab. I presently have an '02 911 Turbo/Tiptronic, which is an amazing car. However, it is a coupe and comes off waranty in a few more months , which makes me a little nervous. I would trade the Turbo to the dealer for the '04 Cab, and probably get some $$ back (or extended warranty, winter wheels etc. My goal is actually threfold - 1) Have a newer car 2 ) Have a car which is a better everyday driver than the turbo 3) Have a cabriolet. In a perfect world I'd buy a Turbo Cab, but I don't want to spend the add'l $ to do so. What to do...

You're in a good position with the trade in. I am looking a getting a 996 cab, having some fun for a few months or a year and then I plan on putting a supercharger in it. I should be able to do this for about $30,000-$40,000 less than getting a 999 turbo cab.

Trading with a Porsche is a "no win" scenario.....I think that 70k to 72 k is a reasonable deal......on straight purschase I just sold a loaded '02 Cab. for almost $60,000

Biggest question that hasn't been asked (I don't think).....how long are you going to keep it?

Good question. The goal would be to keep it long term and drive it year round. It has a hard top that goes with it; that and a set of winter wheels and snowtires ought to make it a good year round car. I have an older car for track use, so this one will be street driven only for the most part.

I don't think a cab will be a better dd than a tt, less flashy maybe. I dunno, never really liked cabs, my 6yo daughter says they're girls cars anyway, now I could never get one!

Maybe you should think about buying this as a gift for a family member!