Recession Ending - 996 Price Stop Falling?

If this is near the end of the recession, could we see the value of our car stabilize? Not that I think these cars will appreciate in value, but it would be nice if the rate of decline decreased.

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I think the 996 prices have leveled out!

NOW you tell me!!

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These cars started to decline before things really went **** up. They'll hover in the 20's and that'll be that. The sub 20K 996's will dry up but I wouldn't hold out for much else of a bump. There's just too bloody many of them.

As much as we love these cars we have to acknowledge the fact that we own 5-10 year old "used cars" with a "not stellar" history of engine problems. They are too new to be classics and (three generations??) too old to be new tech. And as Dead-Eye points out there are many to choose from.

The doomsayers will continue to point to scam ads and beaten dogs for sale on Craigslist as representative of the market. The modified and higher mile cars will be on the next tier, taking a while to sell, and at a lower price. This will accelerate as they fall into the hands of kids and suffer chrome wheels, bodykits, painted interiors, etc. Mostly stock, documented, well-maintained, moderate mile cars--especially Mk 2 cars--will experience a gentle slide. And the amazing garage queens will continue to bring a price premium, but nowhere near the premium low miles brings on the air cooled cars.

prices of cars will always drop! so the longer you keep them the less the are worth.... until they are classics and the 996 will never become a classic there are just to many made... in the end who cares...drive have fun..take your loss when selling and get something new and better!

The recession is near the end??

We're not talking about 924s here. I do think the 996 has lasting appeal, and that will be reflected in prices. The bottom line is, no matter what you think of the 996 it is a 911, and was Porsche's flagship car when it was released. Porsche made it the standard-bearer of the 911 heritage. And despite what some of the air-cooled crowd said, it delivers on the promise by being faster and handling better than the 911s that came before it, while retaining the rear-engine-boxer essence. As to whether the 996 will become a classic. . . I guess it depends on what you consider a classic. Its not a 356 Speedster, or even a soft window Targa. Maybe 996s will never be as collectible as ANY air-cooled 911. Maybe there are too many out there. If so, ok. But the 996 is still an amazing car and that's not going to change. If we still have fuel to put in the cars in 25 years people will still want 996s. The driving dynamics of the car are exceptional. The 996 looks great. It�s a rear-engined Porsche with civility and accessibility. Is it "neutered" as compared to the air cooled cars? Maybe, but it makes you feel like a better driver while still having what it takes to scare you. It I can't imagine the 996 would ever be given the same regard as a any of the front-engined four cylinder cars. Not that any of those are bad cars. And really, any clean Porsche has the potential to be a classic as it ages. Well, maybe not the Cayenne. I've made the mistake of checking prices regularly since I bought my 996 last year. It has not made me happy, and I should have stopped a long time ago. At any rate, prices do indeed seem to be stabilizing. Even on eBay 1999 C2s are selling for mid-20s, maybe a little lower than a year ago but not much. And of course very clean, low mile, well documented cars still go for more. There are sub $20k 996s out there. A few seem like good cars, but just have high miles. Again, nothing wrong with that, but it impacts the value of any car, especially when there are low mile examples to choose from. (There's one on eBay now with 149k miles, doesn't mention a new motor. ) Others, well . . . . when I was looking at 996s the less expensive ones turned out to be less expensive for a reason. Car doesn't look good in person, accident comes up on carfax, for sale at a spotty-looking used car lot, etc. (As an aside, I don't think accident history should be deemed a fatal flaw, if there is documentation of a good repair and the car checks out.) Bottom line, maybe I'm not saying anything different than those who have said 996 prices will settle in the mid-20s for a while. But I do think the 996 is a car that will remain desirable over the long haul.

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There will be extreme pressure from falling early 997 prices. I was considering a 996 C4, then I saw how cheap the C4S was, and got that instead. Pressure from above. What if a 997 C4 had been the same price I paid? They will be soon. There won't be a car like the 993 made ever again, but Porsche keeps making lots of those new facelifted 996s.

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. you have to factor in the cost of the new watch if you buy a 997 though - let me know when 996's are worth more so I can put mine on the market and get what Phil got for his car - that will be the day

I hate to say this, but I think the 996 actually looks better than the 997, why? Because as said above, the 997 looks like a facelifted 996. Lots of 'complaints' about the the Boxster headlights and now you have round lightlight cans grafted onto the 996 front end. Maybe some styling complaints about the rearend and now you have implants stuck in the rear end to make it more bulbous, but it doesn't look like a 'unitary' design - it looks "implanted". So consequently the 997 styling is a little disjointed and herky-jerky IMO. Whereas the 996, as 'slabsided' as it is, is 'whole' - designed on one sheet of drafting paper. Does that make sense? BTW: If you look at the top edge of your front fender and look carefully at your rear end, you notice subtle homage to the compound curves that you admired on your 993

I just saw a friend that told me her girlfriend and husband just bought a used 911. I nearly fell down when I heard the details: 2001 C2 with basic options, 23k miles and supposedly a high end stereo. Their friend had it since new and was upgrading. Supposedly in good condition (never saw it myself, but she said it had never even been driven in the rain) and this is in Toronto mind you, but sale price was ~$46k US!!! It's good they were not in the room when my friend told me. Talk about being naive to the 996 market! I don't think they even had a PPI done. I didn't even want to mention the history behind the engine reliablity, especially at that low mileage....

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sounds like the buyer is my twin

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Bawhahahaha!!!! Sorry Ed, I tried really hard not to laugh, but it just jumped out!

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Makes perfect sense to me. The 911 was updated, but with a clean sheet of paper and the result is a holistic design that is incredibly smooth while retaining the styling cues from the air cooled cars, looking distinctly like a 911. As good as many of 911s from the 60s-90s look, and some are just plain amazing, none look as good to me as the original 901.

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I even feel this way about my MkII 996. Love it or hate it, the MkI was the true original. I actually prefer the older headlights. I bought a MkII because of teh performance and rigidity improvements, and the glove box I suppose....and maybe the better resale. I really wanted a MkI car though.

I think this recession might have changed some habits and even if jobs return the buying tendencies may not bounce back.

I definitely agree, I run a high-end guitar store and regular customers who I know are still doing 'okay' have slowed down dramatically in purchasing.. Everyone seems to be putting a little more thought into where their money's going..

I recently sold my 968 and have been studying the 996 market closely for a couple of months looking for a '99 or '00. Some observations: 1. Banks are rarely loaning on 10 yr old cars 2. People no longer have ‘home equity loans’ to tap 3. Supply is bigger than demand for 996’s 4. 90% of eBay 996’s (‘99’s) are not meeting reserves of $18k or more (eBay) 5. Most bids top out around $16k (eBay '99) 6. Most cars have ‘reserves’ and are reposted over and over (EBay) 7. ‘99’s without ‘reserves’ are selling ~$16k (eBay) 8. 997s are driving down 996 pricing, 9. $10,000 engine roulette is a bigger factor as prices drop 10. Expensive car to own if you are not a DIY 11. ’99 Kelley BB 996 = $18k Excellent shape, 60k miles 12. The economy and job security = less risk taking It's a great time to buy a 996, but it appears that owners that purchased in the past 2 years can be upside down and you are seeing the frustration in the difference between reserves and bids. I sold my 968 for more than I bought it 2 years ago, so some cars in the market are not dropping as much as others.

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Got any used Heritage guitars (575, etc...)

I think the 996 cars are the least desirable of the 911 series cars. So its why they have fallen the most. They were built with a "budget" in mind and that budget was not a good one. The 997 cars look and feel better to drive and the older air-cooled are just classic

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hahaha - near the end of the recession? What planet are you living on?

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Well, I happen to think the 997 looks better than the 996's. I like wide asses on anything except women.

There are WAY too many naysayers here on the 996 forum. The 996 is a fine Porsche, and will be a STEAL for people looking for Porsche performance for not a lot of money. Compared to a 993 or a 964 the 996 is a heck of a performer, with far greater reliability. I hate to say it but I will,--it's that "the grass is greener" thing affecting you!

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The planet of leading economic indicators. Disgruntled knowledge workers angling for moves in the next 6 mos. Sidelines money sniffing around planning what to buy. Retirement portfolio (finally) back up to where it was this time last year. Smells like, about... 1996? Just need to spot the next bubble before it's too late to jump on.

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I don't agree, but I'll admit there's some subjectivity of use and opinion. I bought a 996 over say, a 964, because the 996 is a better daily driver IMHO. And it has better performance, in raw numbers. It delivers a stellar driving experience overall. There are also some air-cooled 911 iterations that I don't think should justify the prices they fetch these days. I don't want to dump on any other cars. Not at all. But I do agree that at this point in time there are too many naysayers when it comes to the positive aspects of the 996.

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Yeah I wish had a crystal ball or something. Let's see, in the time since I've been "investing age" I've gone through the Internet bubble and the housing bubble. What could possibly be next? Maybe the 996 bubble?

That is a key point (not the looks part, the other thing). If you concede that a 993 or earlier 911 iteration has the best driving experience, then it's hopeless. You certainly can't make a 996 drive and feel like an air cooled Porsche. But a 997 is just taking a Porsche with lots of tech, and glomming more tech on top. Of course you can't give a 996 dfi response, but better throttle mapping? easy. Suspension tuning? sure. The 997 is just a newer model 996. If it has a feature you can't live without, add it on.