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Depreciation

dereksharpuk

dereksharpuk

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Despite assurances from Porsche that depreciation was one of their main concerns (for if they offer little for your old car, you are unlikely to buy a new one), I have yet to be convinced that Porsche have stopped the rot. Have a look at what OPCs are selling Gen 2 C2Ss for, knock off £8K - £10K and that is what yours is worth [:mad:]. I hear that prices have stabilised, but have yet to be convinced they have. Gen 1s trade prices are now sub £30K for early models. All the more reason to keep what I have got. [:D]
 
FFS Derek, go and log into Pistonheads if the depreciation is your main concern.. they fall over themselves with it....[&:] The current world market is affected, not just Porsche cars... Apart from classics the only cars keeping the value seems to be hyper cars along with such things as Ferrari California, Alfa 8C and for the Porsche token gesture the CGT- which has gone up 60K in the last 12 months.... [&:] Derek, CGT now theres an idea... [;)] As always, you only ever see depreciation when you sell.... garyw
 
I think Porsches give the appearance of holding there money if you look at the OPC used car retails, its only when you find out how much they have in them that you realise they don't! Smashing motors though [:D]
 
Well even 993's are going down in value and don't forget they have been doing that for a lot longer than 997s. I agree, however, that due to their limited numbers, depreciation is less of a problem. But the running costs.................................! [:D]. As Gary states, all cars depreciate .... for the first 10 - 20 years.. Even Ferrari's ... one can now purchase a good 360 F1 Spider for £50K which cost a wopping £140K not long ago. The solution? Again, as Gary says, don't sell... or buy a 356 or XK150 or don't buy at all.
 
as you say ,derek,it seems 993`s dont depreciate much ,but if you look at how much they would cost now,relative to what they did when new ,they certainly HAVE,they would be new now about £150k(based on £70k new 1995 for example)so a good example for £25k is a steal!!probably equates to an early 997 being worth £10kin 5-6 yrs time.
 
It is outrageous. My Porsche has depreciated over 40% in the time I have had it ........but then £3K over 7 years is hardly ruinous. You can't help but love 944s. [:D]
 
I don't blame Porsche for depreciation. It's basic economics. Prices/values are determined by supply and demand. So long as Porsche only build cars to order, then they are simply satisfying demand. Can't blame them for that. Residual values are determined by market behavior. It's the customers who keep ordering new cars and then re-selling into the used market that create the over supply. The used market will always find the true price level.
 
Dyllan makes a good point. One also needs to ask why 911s are now so cheap compared with Ferrari. Of course Dr Weiderking worked wonders with the accounts... cheaper materials and economies of scale... all at the expence of residual values. Moreover, given the advances in technology since the 993, modern Porsches should be far more reliable, but don't seem to be. Moreover, whereas today parts for a 3.2 Carrera and repairs are easily available, I wonder if the plan to beat depreciation by keeping our cars forever may prove costly in the long run. I cannot see individuals repairing PCM in 2030!
 
ORIGINAL: oliver Prices/values are determined by supply and demand. So long as Porsche only build cars to order, then they are simply satisfying demand. Can't blame them for that. Residual values are determined by market behavior. It's the customers who keep ordering new cars and then re-selling into the used market that create the over supply. The used market will always find the true price level.
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Not quite true. Demand for the Ferrai 458 Italia is huge, but the wait is lengthy. My local Ferrari garage has 60 deposits with just a quota of 6 per year. My maths show this to be a 10 year wait [:D] Hence it is no wonder than residuals on California (and I suspect will be on 458) are sky high. Sadly Porsche now are only interested in profit. It's aim to produce 150,000 vehicles per year by 2011 will do nothing for residual values. Or indeed exclusivity [:(]
 
I think new Ferrari models only sustain their values for the short term. There is an initial period when demand exceeds supply and then the bottom drops out of the market (348, 355, 360, 430). And god forbid if you actually want to use it and put 10k miles pa on the clock [:-] I do however think that the Cayenne and Panamera, which account for the bulk of production, have devalued the exclusivity of the Porsche name as a sports car maker.
 
Ferraris are far from immune. I went to my local Subaru dealer to book in my wife's Impreza and, of all things, they had an F360 Spyder for £39995. Looks in good condition and they said they had spent 10k on it - brakes, tyres, cambelts etc - but that they would still turn a decent profit. Makes you wonder what the previous owner got for it, low 20's? I have an ageing F355, 14 years, which I seriously crashed in 1996, so heaven knows how much that it worth. I got £31k for my 40k mile 996 turbo in September, down from £76k in 2005 (I bought it at 7k miles), from my OPC (same as Derek's I think) who re-advertised it at £40,850, it went after a couple of weeks. So, that was £45k depreciation over 33k miles, call it £1.35 a mile. Sadly, depreciation is always going to be the biggest cost element of car ownership. I've just retired, bought my 997.2 turbo and plan to keep it for a long time and not "waste" it on any kind of errand-running, strictly fun-only motoring. Otherwise, popping out for that pint of milk will be expensive...
 
Mark Drive it and enjoy it -we're all a long time dead. Depreciation as Gary points out only hits you when you sell the car. IF you look carefully at the classifieds at Porsche's over 5 years old, mileage is only making a small difference to depreciation except for where it has virtually no mileage - in which case why did some one bother buying one to keep in garage and not use. Whats the point. You'll never have "I wish I drove my Porsche less, so some one else after me got more enjoyment out of it" put on your gravestone.
 
ORIGINAL: dereksharpuk Demand for the Ferrai 458 Italia is huge, but the wait is lengthy. My local Ferrari garage has 60 deposits with just a quota of 6 per year. My maths show this to be a 10 year wait [:D]
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A hardened new car buyer like you Derek surely you didn't fall for that old chestnut! :ROFLMAO::ROFLMAO: Following off PH today seems to make a little bit more sense of the priceless prancing horse situation in these credit crunched times exclusivity will always cost [;)] FERRARI 458: YOURS FOR £25K OVER LIST Queue-jumpers are paying through the nose for first UK cars We're not sure if Ferrari prices are a good economic barometer or not, but it seems there are plenty of punters willing to pay a hefty premium for the new 458. One report suggests that the new 458 Italia is in such demand that eager beavers are competing to bypass the three-year waiting list by paying more than £25,000 over the £170,000 list price. UK deliveries of the 458 will begin in the summer for those customers lucky enough to be at the head of the queue, and intense competition for the earliest cars is driving prices skyward, according to a news release from Glass's. "It's not unusual for the first examples of such exclusive sports cars to change hands for inflated prices before the first owners take delivery, but the premium required to bag one of the early 458s is exceptionally high - a reflection of just how desirable it is," says a company source. Unfortunately here at PH towers we can't afford a 458 at any price, but rest-assured we're bending Ferrari's ear in the hope they'll let us have a go in one on UK roads soon. (Er.. 'hint, hint'!)
 
Of course, one thing that we should not forget: 1. Porsche are fantastically great cars. 2. They represent excellent value for money when they are a few years old. Oh, that's two things! [:D]
 
Could be worse. Have a look at the table at the bottom of this page http://www.parkers.co.uk/News/Motoring-Costs/2010-depreciation-report/
 
ORIGINAL: John Sims It is outrageous. My Porsche has depreciated over 40% in the time I have had it ........but then £3K over 7 years is hardly ruinous. You can't help but love 944s. [:D]
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How awful, mine seems to have increased from 10k to about 14k(ish) over the last 2 years, You can't help but love 3.2's [:D]
 
especially when you know it wont have one of those terrible new fangled pdk things,eh gary?!![:D]
 
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