996 Depreciation

[Guest]

I am currentley in the process of changing my vehicle and finding very difficult because of the big drop in money. At this moment in time I stand to lose around £8000 in just over a year, and all dealers I try and part exchange with are offering so low it might be better off sitting in my garage. Does anyone ever sell there cars private, if so what is th emost effective way to advetise. I would rather lose money to a private sale than a dealer. All ideas will be most appreciated.

 

[stuj76]

What about speaking to an independent dealer about selling it for you on 'Sale or Return' ?

Obviously they would be a charge involved for this service - best speak to them.

 

[Rotorhead]

Start with an ad on here.

It's easier to sell privately if it is still under Porsche Approved Warranty.

 

[Rodney Naghar]

I currently have my car for sale and am finding Pistonheads fantastic....after 1 day I got 4 interested people. Also try here, there are always people looking. Try the specialist magazines (e.g GT Purely Porsche, 911 and Porsche World etc), they are free to advertise in, and also Porsche Post (again free)...if those fail try Autotrader...but you will have to price competitively, bite the bullet and price it right, you will be sure to get a private sale soon especially as February comes along and people start looking again in ernest.

 

[mikfinch]

If you bought from an OPC and are trading into an OPC then £8k depreciation in a year seems very reasonable to me. Most of that £8k is the margin you paid the OPC for the privelige of buying from them rather than a private seller or independent. If you bought virtually any other prestige car in the same price bracket, it would have depreciated more

 

[Guest]

Thanks stu will look into that, all the advice given has been excellent.

 

[Guest]

Thats great news rodney will have a look at that over the weekend.

 

[968ant]

£8k in 12 months is hard to swallow if your not prepared for it, I lost £9k on my Range Rover last year but it actually did a bit better than I'd thought. I think you just need to know what is a realistic price for your car? if you can be patient sell privatly, it's more hassle but you will sell your car eventually, almost certainly for more money.

The main problem I have found with selling a car over say £20k is that you can't offer finance, in the past I have phoned a local dealer to me and asked if they would be able to sort the finance for any prospective buyers, and they have gladly agreed, I suppose it's money for nothing for them? just a thought.( only just speak if you can to the finance manager)

Hope this helps,
Ant.

 

[Guest]

OPC's offer about 5K below what they will sell it for on a regular 996. On a turbo it is 7K'ish.
Therefore, you only have about 3K of depreciation.
I reckon this is pretty good.

All the stuff you hear about depreciation, covers the price new compared to the price you could BUY one for 1,2 or 3 years later.
If you are trading one in, then the dealers margins always make the depreciation worse.

If it makes you feel any better, I reckon I am looking at 30K loss in 18 months, but I don't plan to sell, so I don't care.
If I keep it for 10+ years, it won't matter.

 

[garyandjanet]

OK
Bought car in July 2004 and paid £55k, went to finalise the deal on 997 cab - was offered £36k in part ex.

So we got our £3k depsoit back and bought a PSE.

The car is giving us lots of fun, so we went out and bougt a flat in Glasgow to rent with the spare cash (paid £46k next door sold for £51k last week) which give us a income of £299 per mth.

Having lost more money on cars then a small african country and think i may be growing up now !!!

40 next in March does the world come to a end ?????

 

[Guest]

Thanks for your feedback Ant excellent idea with asking a dealer to finance possible buyer, classic win win situation. I think I will try the private route firstly, do you have any knowledge of part exchange I seem to be getting offered slightly more but still really low.

 

[Guest]

Sounds really sensible - I am fed up of losing money on cars, only car that I ever had with a good resale value was a cooper s. I purchased C4 911 because apparently the depreciation is a lot better than most cars, but forgot to read into this. It seems that all the dealers have there mind made up on what they will pay I am sure they call around to each other with current prices. All the dealers (Audi & BMW) I have went to with part exchange in mind can never give me a price until after phoning around, I am sure they call the same people. Thanks for your help!