Boxster residuals

[huw dolphin]

I have been pretty staggered by the trade in offered on my 08 987 RS60 - various offers between 16 - 19k. That's on a car that cost 35k two years ago. Now I'm not daft enough to think that any car doesn't depreciate but that seems staggering to me (over 50% in 2 years). Or is it just that Porsche dealers in particular are shameless muggers?

After 4 Porsches (993, 997, 987 and 987rs60) I feel disillusioned about the thought of continuing Porsche ownership and think maybe a private sale in the Spring would be best and then buy something fun and a lot cheaper. Can someone cheer me up with some positive thoughts and reasons to keep the car?

 

[daro911]

ORIGINAL: huw dolphin

Can someone cheer me up with some positive thoughts and reasons to keep the car?

You have done the money it's gone [] but you still have the greatest sports car in the class and every mile driven will be a fun filled quality mile [8D] So what better reason is needed just keep the best and forget the rest. Drive & Enjoy []

 

[gdavison]

Worlds creeping very slowly out of a rescission ... and UK is (reportedly heading back into yet another one) .. "luxury" items are "not wanted"..

Boxsters (and all Porsches), Lambo's, Ferraris, Astons etc etc are all currently being hammered on residuals

 

[Buddy]

It won't lose as fast as that again, you've already seen what the big hit is but it doesn't actually effect you until you sell so drive it and enjoy it.

There's not much around that's better and nothing in it's class.

I felt much the same way a couple of years ago and have stayed with the Cayman I may well stay with it for another 4-5 years. Then to average out the depreciation doesn't sound so bad.

 

[flat6]

Given the current climate I think longer periods of ownership is the better option if depreciation is a concern. Even if you buy something else cheaper, you will still be losing a considerable sum on your Boxster, paying retail price for the replacement and will lose out again when you trade that one in. That will be even more cost to you. Your Boxster is probably worth more to you than trading it in, so hang onto it for now.[]
A Porsche is one of the better options to keep for a few more years. I have an 06 Cayman S and it neither feels nor looks 'tired' despite its age, mechanically, interior, exterior and most importantly, how it drives.[]

 

[jdpef356]

Lesson learnt I suspect - you could have purcased a 2004 986 550 spyder at the same time for around 16/18K[]

Depending on mileage condition that car would still be worth around 12-15K - but not trading in - sell private

Guess the one that seems to be defying the current trend is the 993[]

Whatever you decide you still have a lovely car![]

 

[Dylan1]

you only lose on poor residual when you sell-answer=dont sell!!!

your porsche is a quality act no cheap runabout will fix you-i tried and was back in a porsche in 3 months[]


10years ago porsche owners generally changed cars every 2 years or so-now they are generally keeping them for 5 years or more-so i am told-and this is because of poor residuals in the main.

average depreciation is much less on a 5yr old luxury car-so keep yours for another 2-3 yrs-dont let someone else profit from your loss and get a great bargain car for less than 20k that will give them years of pleasure-!!

 

[Nick_USA]

Porsche must be having a hard time selling cars ..... NOT!!

If you read PP or the press sales are up 25% this year so far from the same time last year.

It's always the same with any car dealer, 'New model is out sir, won't be able to sell yours, can't give you more than ....'.

To the OP keep the car, you won't loose much more in a year or two.

 

[huw dolphin]

Well you all seem so positive about keeping it.... I guess there is a lot of sense in keeping it for 4/5 yrs by which time it'll be paid for and the cycle of depreciation/trade in/new car mark up will be avoided. What is worrying is that the trade in price now is less than the final balloon payment due in 12 months time. The payments were geared to ending up with a balloon that would represent somewhere around the residual at the end of the term and that, sadly for me, seems to be a long way off.[]

Having said all that, I would agree it is a great car and I found the 3.4 with the sports exhaust transforms the car into a much more interesting and exciting car than the 3.2 I previously had. But that nagging issue of its residual value compared to the cost of paying for and running it does somewhat colour the experience. I think I need to get out there and drive it...

 

[London987]

i bought mine with an eye to keeping it for a while. i knew i'd get shafted...and i have been, but it still isn't for sale. i don't get to drive it much and i still get a feeling its a special car every time i get in it.
keep it - what would you get in it's place? you've taken the pounding, roll with it a while

 

[Buddy]

My son lost out in the same way and sent his Boxster S back, he sometimes wishes he'd kept it but at the time it needed about £3.5K spending on it at OPC prices.

 

[keephatch]

I had the same experience as Huw Dolphin with my OPC (Reading). My car is a 2007 model (Sep 2006) Boxster S high spec. Only 17,000 on the clock, cossetted by me - it was my retirement toy. I fancied trading it in for a 997. They offered me £15,000 in part-ex. Porsche Club GB valued it at £21,000. It has put me off dealing with an OPC again.

 

[Brian Halling]

My solution for minimising depreciation is to buy a new model when it is announced, and then swap it when the next one is announced. Better still, if you have a friend who is eager to benefit from your loving care and attention to the old one, sell it privately. This has really worked for me:

- June 2000 986 sold March 2005 for 53% of its total on the road price; less than 10% per annum depreciation.

- March 2005 987 promised for May 2012 for 36% of on the road price; less than 9% per annum depreciation.

I concede that both cars had a low mileage, were normally garaged, had a full Porsche service history and were/are in really nice condition. One other relevant point to remember however: you always buy extra goodies and pay more for the new model!

I wonder what my 981 will fetch in 2017?

 

[gouldian]

My Boxster "S" is a couple of weeks away from 11 years old with under 35,000 mls. Still on original battery and no expenditure other than 1 set of tyres and annual service. Cost me around £42,000 cash in 2001 and even assuming it has no value now whatsoever, the depreciation of £3818 per annum is well worth the total joy of driving it!!! Furthermore, take some encouragement from the fact that it has just been anounced that of all makes, Porsches over 10 years old have the lowest failure rate of the German equivelant of the MOT!! Stick with it, you're a long time dead!

 

[rich mich]

my last boxster i had 3.2 s 2002 model lost approx £3000 a year (bought for 22k 6 years ago and px for 16k ) my curent 987 has also lost about 3k a year i have owned this for 4 years now and is worth 12 -14 k px i am due for a change soon may be next year might go for a late model 987 s gen 2 or a 981 2.7 or a 997 gen 2 still i have to make my mind up, i only use the porsche at weekends. all cars will lose money some just more than others a lot of people i work with change their cars every year, due to having a discount on them(ford, volvo) they regularly lose 4-6 k on these vechicles when the put them in for a new model.

 

[chard]

I have to say that when it come to RV's the OPC network appear to offer way below the current CAP prices which I found very surprising and disappointing. If I had previously known this to be the case there would have been no way that I would have given the OPC my service business. By all accounts it looks like I'll be moving back to lotus.[&:]

 

[keephatch]

Some of the replies in this thread miss the point. It is not about whether Porsches depreciate much or not, or how to minimise it, or whether we enjoy driving them. As I understood it from the thread starter it is about whether people get a fair deal from Porsche dealers when trading in (I assumed he meant OPCs). My experIence of one OPC and one attempted deal is NO.

 

[Buddy]

The fact is that he was asking about whether to sell before it loses more or stay with it.

I and many others say the maximum depreciation is already done so to minimise future depreciation rather than saying sell and get something else we all say he may as well stay with it, values elsewhere are little different on trade in but to buy a car from anyone but an OPC means the cars are not so well prepared for resale just look at what you get by comparison between independent car sales companies and OPCs, warranty etc most car dealers ask close to the same price for a similar car from an OPC but 3 months warranty and little else.

I've never known a really fair deal from anyone on car trade in.

 

[gouldian]

Strike a light car worth more than nowt! 2001 "S" £8000 trade in by OPC against new 981 "S". This is a depreciation of only £3090 per year in 11 years. Not many makes of other roadsters out there would manage that!! At the end of the day you buy to enjoy, knowing full well that cars will always be a depreciating asett and all dealers make a living out of your passion.