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YOUR RESEARCHPitfalls of Low Millage Car
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Is such infrequent use likely to have brought about a host of potential problems that would make the premium being asked not worth it.
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Hi guys (again) - the searching continues . . .
Right, I'm still looking at 996s 98 to 2000, later the better. I've seen a very low millage car, 24k for a 2000, which is very low. Is such infrequent use likely to have brought about a host of potential problems that would make the premium being asked not worth it. Haven't seen the can in the flesh but the photos of the interior look like new. The seats look like they've never been sat on.
Views on low millage for age cars appreciated (not that there are many about)
Thanks
LoFi
Migration info. Legacy thread was 48610
If it's 5K per year then probably not too much of a problem - check to see if the car has been sitting dormant for a while (gaps between services). Wouldn't see it as too much of a problem though - but get a warranty - as problems may occur if you use it a lot in the first year!
Migration info. Legacy thread was 48617
Thanks guys - so high miles if ok, just get and inspection etc and low miles is ok, just get an inspection. Seems there is nothing an inspection cannot deal with! So if I buy a car with 60000 and keep it 3 years (likely) and put 30000 miles on it (alo likely) it will have high milage and if I buy one with 25000 miles and do the same I have a medium milage car. Question I guess is - assuming same condition etc what is the premium for the 55000 mile car over the 90000 mile car? Does the premium stay the same as it is pitched now or would it have shrunk to an insignificant amount?
Who knows - I must say I never got so caught up in looking at depreciation until I started looking at Porsches. If I brought another car for £30k it would probably be new and I'd just accept as a fact of life it would be worth half its cost at best in 3 years. Suddenly I'm worried about a couple of £k difference over the same period for a car that actually costs the same £30k. It think I need therapy.
LoFi
Migration info. Legacy thread was 48790
I got to say, it would be nice to be able to get £20K for my 996 with 90,000 miles on the clock and 8 years old - but the way prices are going that might be optimistic. :?
Who knows?
It's all speculation and guesswork when it comes to depreciation and my 996 is not going to be a collectors item like some of the 993's!
Migration info. Legacy thread was 48798
I think you should view the 996 the same as any other car unless its one of the rare types (GT3RS etc). Assume it will loose 50% of what you pay for it over three years. If it does better its a bonus but don't bet your house on it.
A 30K 996 for 15K in 3 years? I can see it.
Ian.
Migration info. Legacy thread was 48811
I reckon the prices for 993 (and 964, 3.2 etc) will be scattered all over the place in three years time. You'll be able to pick up high mileage every day cars for good prices but will probably have to pay double for mint low mileage examples. Similar to the way older Porsches have always been priced.
Ian.
Migration info. Legacy thread was 48873
Interesting consensus of sorts. Basically there is no reason why there should be so much written about depreciation on the forum or on the specialist sites for that matter as the cars depreciate at the same rate as any others. It seems the only reason, im(humble)o that 993 prices firmed up was that until cheap enough the 996 wasn't popular on the second hand market. Now the 996 second hand price is within the reach of more people prices will fall again.
Good, I'm glad that is cleared up as it reduced the number of considerations by one to around 90 million.
LoFi
Migration info. Legacy thread was 49020
This will be an interesting year for the 996 and 993 markets. Since the 996 reached 993 prices (and in a lot of cases gone lower for equivelant cars) will the 993, 964, 3.2s etc fall into line and follow them down or will the pre 996 cars develop their own independent market. The two are very different types of car made in very different numbers.
Migration info. Legacy thread was 49062
Personally (and I am a massive fan of 996 and 993),I think that 996 prices will continue to fall and 993 prices will firm up for the mint ones and drop for the tatty ones.A lot of people still love air cooled and the compactness of the 993(my 997 looks a lot larger alongsideone) and it is a very pretty design,whereas a lot of people(myself NOT included) do not like the headlight design of the 996.Also and maybe someone will have exact figures-there seem to be many more 996 cars around,adding to the rarity of the 993.
Migration info. Legacy thread was 49137
I dont think it will go that way, as the 996 becomes cheaper and cheaper more people who are new to the marque will go for it over the 993/964 cos of the price and the fact they get a far more modern car for their money.
Only one thing for certain Porsches are now in real world depreciation, terirory they have never been in before.
Daz
Migration info. Legacy thread was 49151
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