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Julio Geordio
New member
Apologies for delay, been on holiday and up to my ears in work but thought I'd indulge myself with 30 mins forum catch up this afternoon!
No, I meant £35k-ish. Well, exactly £35k! Mine is my main car and I use it everyday, so it has 35k miles on it. Not horrendous but that was held against it. I think he said "they're hard to shift when you get much above that". But it is mint - I took it in for it's major service a few weeks ago, and there was absolutely nothing more to do on it! Actually, I do like the fixed price servicing. The cost of running the car full stop isn't bad apart from the depreciation. Somebody else made the point on a thread I was just reading, Porsche have chased volume, we've had until recently a long healthy run on the ecomony so more people have felt wealthier and splashed out, but now there are simply more sellers than buyers.
Still irritating when you're toying with spending £80k on a new on though, to have no compromise from the nice OPC chaps. Mind you, they did leave a message while I was on holiday so maybe they realised that they had their maths wrong [&:] I did return their call and left a message but not had a reply yet so maybe times aren't so hard for them after all!
No, I meant £35k-ish. Well, exactly £35k! Mine is my main car and I use it everyday, so it has 35k miles on it. Not horrendous but that was held against it. I think he said "they're hard to shift when you get much above that". But it is mint - I took it in for it's major service a few weeks ago, and there was absolutely nothing more to do on it! Actually, I do like the fixed price servicing. The cost of running the car full stop isn't bad apart from the depreciation. Somebody else made the point on a thread I was just reading, Porsche have chased volume, we've had until recently a long healthy run on the ecomony so more people have felt wealthier and splashed out, but now there are simply more sellers than buyers.
Still irritating when you're toying with spending £80k on a new on though, to have no compromise from the nice OPC chaps. Mind you, they did leave a message while I was on holiday so maybe they realised that they had their maths wrong [&:] I did return their call and left a message but not had a reply yet so maybe times aren't so hard for them after all!
ORIGINAL: dyllan
as someone else said on this forum-you cant lose unless you sell so if they insult you([])then do as you intend and hang on for a bit longer
btw when you say insulting do you mean low £40k"ouch-"ish
Had test drive of Gen 2 Carerra S with PDK and chrono plus. It is very impressive and the interior is much refined over my original 997 cab. Not sure that I can justify a changeover of nearly 40k - I've had my car from new (3 years plus) with 15k miles - offered about 43k but from what the salesman said I might be able to squeeze a fe more K's out of them.
dereksharpuk
New member
Following my OPC visit today to drive Gen 2, I noted that Cayman S dropped a further wopping £800 in June and they expect further falls over the next few months. They suggested also that orders for anything are drying up... no surprise there. Only consolation is that residuals on Merc SL. SLK & AM V8 Vantage are even worse.
Jamie Garside
New member
I look forward to testing one at Silverstone next week however I can't see why someone who had bought a Gen1 from new, has done all that depreciaton, would find the Gen2 so much better that you would want to go through it all again just to take a huge hit when the next model comes out in a few years. I recently advertised my car for sale but I am probably going to keep it now and ride out the current financial storm - maybe look at the next model 911.
My thoughts exactly. When I ordered my C2S last summer, I was advised that what I would get in Septemebr would be the FL, with LEDs and all.
Of course I didn't and now I hold a small resentment and wonder would I have waited if I had known the facts. Probably not and the way I see it now is that my car will be a year older when the 998(?) comes out and that change will be easier to justify.
robertc@okw.co.uk
New member
Due to drive the Gen 2 at Silverstone next week and was thinking I might be tempted to change...
However, after reading all the grim depreciation news in this thread, I think I will keep my car for another two years at least..
Even with a balloon payment of £35K to find next August, I think it will be better to pay the finance off and wait for the 998, or whatever they are going to call it..
I usually getting itchy feet with cars after two years, however, I must say with the 997 I love it just as much as when I first got it.. Also the longer I keep it the less I need to worry about racking up the mileage etc.
I might even treat the car to an aero-cup kit - hey presto new car look for less than £4,000..., sorted.. []
However, after reading all the grim depreciation news in this thread, I think I will keep my car for another two years at least..
Even with a balloon payment of £35K to find next August, I think it will be better to pay the finance off and wait for the 998, or whatever they are going to call it..
I usually getting itchy feet with cars after two years, however, I must say with the 997 I love it just as much as when I first got it.. Also the longer I keep it the less I need to worry about racking up the mileage etc.
I might even treat the car to an aero-cup kit - hey presto new car look for less than £4,000..., sorted.. [
]
Mike Cooper 33
New member
I have owned 911's for almost 20 years, bought a new C4S in April, my first new one and first experience of a water cooled car. It's a fantastic piece of kit but I have to say I am astonished by the depreciation. I got a 3K discount because of the Gen 2 coming along but still my baloon payment is £48K in 2010 and I am not sure it will be worth that based on what I have read on this thread. That's £15k per year just in depreciation!
Porsches always used to keep their value, I really wonder if they have the strategy right now. Look at prices of old 996's now, they are worth less than 993's.
I'll see what happens at trade in time but if it's as bad as I fear this will be my last new Porsche. Love the handling though....
Porsches always used to keep their value, I really wonder if they have the strategy right now. Look at prices of old 996's now, they are worth less than 993's.
I'll see what happens at trade in time but if it's as bad as I fear this will be my last new Porsche. Love the handling though....
Porker993
New member
Porsche sales are the first thing to suffer in a recession, which is where the UK economy is currently heading.
Those of us old enough to remember the last recession remember that for sure.
Economic uncertainty combined with oversupply of newer models ? Hold on to your hats, lads, we're in for a bumpy ride.
Those of us old enough to remember the last recession remember that for sure.
Economic uncertainty combined with oversupply of newer models ? Hold on to your hats, lads, we're in for a bumpy ride.
sadly the depreciation means your value at balloon time is unlikely to be near 48k on current trends.by making them more costeffectively(cheaper!) than they were made 10-15 yrs ago and in much larger numbers porsche have cause dthis problem,worsened by the economic situation.however,when you think that 993 cost when new was only slightly less than a new 997,now,then you can see why they hold their value-as £50-60k in 1993-7 would clearly have been more in real terms than 65-75k today.so altho 993`s seem to hold their value more-they would have cost the originalowner much more than the 996/997 original owners(relatively)
All this head over heart stuff!!! - The way I see it is this - Yes my change is costing my 2 or 3 K more than I would have liked, maybe even a bit more but with fuel at £100 per tank, all the other economic bleakness plus my wife spending £475 on shoes - I just can't worry too much about it...
Financial lessons:
1. Pay off your mortgage as quick as poss.
2. Invest wisely for pension, at least 15% of income.
3. Use ISA allowance for medium / long term savings.
4. Live well but within your means.
5. Blow the rest of Porsches []
Financial lessons:
1. Pay off your mortgage as quick as poss.
2. Invest wisely for pension, at least 15% of income.
3. Use ISA allowance for medium / long term savings.
4. Live well but within your means.
5. Blow the rest of Porsches [
]
dereksharpuk
New member
Does anyone ever worry too much about the residual value of a smoked cigarette, a glass of cold beer once drunk, a holiday taken in Portofino? All one has left are good memories. Does anyone ever lose sleep over the residual value of their washing machine or vacuum cleaner? They are invarably left out for the refuge collectors. So what is it about cars?
I suppose it is all relative. Talking to a BMW sales exec today, he told me he has just taken in an 11 month 500SL with a mere 1200 miles on the clock, original price £84K and gave the poor chap £43 in p/ex. A £41K loss in 11 months. That was all the sales guy could get on the open market. Maybe we are doing well with Porsche.
So if you want to enjoy your cold beer, a fillet steak or even a lovely Porsche, pay up and forget about the cost.
If you don't want to lose money..... simple ..... don't buy! None of those things are essential to life. []
I suppose it is all relative. Talking to a BMW sales exec today, he told me he has just taken in an 11 month 500SL with a mere 1200 miles on the clock, original price £84K and gave the poor chap £43 in p/ex. A £41K loss in 11 months. That was all the sales guy could get on the open market. Maybe we are doing well with Porsche.
So if you want to enjoy your cold beer, a fillet steak or even a lovely Porsche, pay up and forget about the cost.
If you don't want to lose money..... simple ..... don't buy! None of those things are essential to life. [
]
Hasan
New member
I couldn't agree with Derek more.
I bought an approved used 997 C2 from OPC Cambridge for £45k in April with all the options I wanted and they even threw the PSE in the same price. Now I'm really enjoying the car, as you only live once.
I've always done pretty well with the 911's I've bought and sold as I buy ones that have suffered their initial depreciation (after 3/4 years) then sell after 3/4 years, losing only about £4-8k max each time.
Will probably sell the 997 in 2 years for £35k, which is a bit more loss than normal BUT it is all about enjoying life at the end of the day!
Would never buy new though.....
I bought an approved used 997 C2 from OPC Cambridge for £45k in April with all the options I wanted and they even threw the PSE in the same price. Now I'm really enjoying the car, as you only live once.
I've always done pretty well with the 911's I've bought and sold as I buy ones that have suffered their initial depreciation (after 3/4 years) then sell after 3/4 years, losing only about £4-8k max each time.
Will probably sell the 997 in 2 years for £35k, which is a bit more loss than normal BUT it is all about enjoying life at the end of the day!
Would never buy new though.....
dereksharpuk
New member
Sensible man [
]But seriously, though I totally agree that to avoid the initial huge depreciation one should buy a 1 yr old used car, I still think that if you can afford it, there is nothing to beat personalising ones own motor car. Moreover, the whole experience is greatly enhanced with factory collection.
My problem is that I buy new then sell after one year.... besides now losing shedloads, one never really gets to bond with the car. Why on earth should I spend £100 or so on Zymol if I am shortly about to sell? So maybe I will keep my next car forever [
].Yeah................
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