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Sell newish, buy oldish? Thoughts please

C

chard

New member
After 18 months of Porsche ownership I've managed the grand total of 2200 miles. The car is great but I just don't get a chance to use it.
So, the crux of this thread, have any readers sold a modern Porsche and procured a Porsche from yester year and if so what were the experiences?
I'm currently running a 2005 Boxster S with 18K miles and I get the feeling that if I don't move it on this year it's value is likely to drop like a stone. The high insurance premiums and relatively costly maintenance is also a consideration as it's a second car which costs more run than my daily hack landrover.

I was thinking of selling the boxster putting some money into some home improvement projects and then getting a decent 944 Turbo/968 or even a 3.2 carrera.

I'm I mad to think of such an endevour?[8|]
 
As someone with a 968 CS to sell, of course I think you are dead right! However the differential might not be as great as you think......... [:D][:D][:D]

If you can find the right car, it makes a lot of sense to me. However you'd need to be very sure that, for example, a 944, which is now an oldish car, wasn't a heap of rust underneath and has had the money spent to keep it right. As we know, they are out there!
 
You'll struggle to buy a decent 3.2 Carrera AND spend some money on home improvements for the funds released by the sale of a 2005 Boxster - unless you're just painting the lounge! Having said that, your thinking is sound based on your usage.
 

ORIGINAL: chrishak

You'll struggle to buy a decent 3.2 Carrera AND spend some money on home improvements for the funds released by the sale of a 2005 Boxster - unless you're just painting the lounge! Having said that, your thinking is sound based on your usage.
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Yeh, I know what you mean about the boxster, the values seem to be all over the place right now. I was going to re tax the car over the weekend then put it on pistonheads, ebay etc for £17500. Am I being a bit ambitious?
 

ORIGINAL: RHT45

As someone with a 968 CS to sell, of course I think you are dead right! However the differential might not be as great as you think......... [:D][:D][:D]

If you can find the right car, it makes a lot of sense to me. However you'd need to be very sure that, for example, a 944, which is now an oldish car, wasn't a heap of rust underneath and has had the money spent to keep it right. As we know, they are out there!
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I take it your diff is not the best?? A LSD??
 
Have to agree with Brian (Kitchens). Having previously owned a 964 and a 968 they cost a lot more to restore and maintain than the running costs of Cayman, although they did not depreciate as badly. In my experience any older Porsche will cost money to get right and keep right, unless you buy a perfect one, in which case you pay handsomely for it. This especially applies to 3.2's ... I lost track of how many I looked at that were just money pits.
 
I'm afraid that I agree with Brian. In the days when Porsches were a comparatively rare sight in the roads, depreciation was glacial. However, with increased production numbers, a proliferation of new models and some bad press regarding RMS and IMS failures, they are now average in terms of depreciation, at best.
I also sold my 18 month old 997 because it wasn't being used and went without a Porsche for several years but eventually developed a craving for an air-cooled classic. I purchased a 3.2 with more than 90k miles on the clock which had been one-family owned for 25 years during which, it was dry-stored from October to April every year. The car came with a comprehensive history. A post purchase(!) OPC 110 point inspection identified worn A/R bushes, front and rear and a non-Porsche battery and that was it. I know that I paid a fairly high purchase price compared to the average market price for a 3.2 but I felt that the condition of the car plus its history was worth it .Correspondence with the previous owners confirmed everything that I had been told about the car. I have covered 6k miles in the last year and have spent an additional £2400 on the car in this time (excluding fuel, road tax and insurance). The main items of expenditure have been an OPC 12000 mile service (£600), Tyres (£400) and replacing the CV boots and repacking the joints (£455). A new clutch was fitted under warranty by the vendor.
I am also in no doubt that there are a multitude of horror stories surrounding the purchase of old Porsches but imho it pays to buy on condition and not on price.
Good luck with the sale of the Boxster.
 

ORIGINAL: chard


I'm currently running a 2005 Boxster S with 18K miles and I get the feeling that if I don't move it on this year it's value is likely to drop like a stone. The high insurance premiums and relatively costly maintenance is also a consideration as it's a second car which costs more run than my daily hack landrover.
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I would stick with what's you've got if you're happy with the driving experience, bearing in mind that depreciation only matters when you are actually selling a car. In any event, the majority of the freefall depreciation has occurred by now and I would imagine that it's beginning to slow down. And although you'll be able to get classic insurance on an older car the maintenance will be as high or probably higher than the Boxster. The older cars give an entirely different driving experience (as a 993 driver I would say better but that's my personal opinion) and I would suggest driving a few of your chosen models before going any further. The 3.2 Carrera is very agricultural even compared to a 993 for example.


 
Thanks for the feedback guys. In response to Kitchens I did some digging today and it appears that the current CAP price on a 2006 boxster is £14k so I wouldn't give up just yet. Having considered all things I have to conclude that I'm most rational thing to do is just stick with with the boxster given the fact that I know it's a good 'un which need nothing. Although the thought of a classic porsche is very appealing, I don't fancy the prospect of having to explain myself to my wife on a regular basis the reasons why the old porsche needs yet more money spent on it.[8|]

As a foot note it is a very disappointing reality the rate at which modern porsche's are currently depreciating. I wonder who much of that is based on the whole IMS/RMS issue?
 

ORIGINAL: chard

I don't fancy the prospect of having to explain myself to my wife on a regular basis the reasons why the old porsche needs yet more money spent on it.[8|]
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I know that feeling well. And that's only the money that she finds out about - seperate bank accounts are a wonderful thing [;)]


 
Chard
I know what my car is worth to me but what you get is up to what some one is prepared to pay you . In this market sadly you will get no where near Gap prices
You will always loose money on any mass produced car and unfortunately Porsches are in this bracket now
I reckon my Boxster will cost me this year
Insurance £260 Tax £445 Service minor one special discounted £350 and that is before i turn a wheel .
As i said if i do not sell no worries i have had 12 Porsches since 1993 all models the older ones have a lot less depreciation but could cost a whole lot more to keep on the road ,the modern ones are a far better drive but this is a personal choice
Brian
 
I would say that I agree with Brian.You could sell your Boxter and buy an older car.In my opinion I would go for a 944S2,Turbo or a 968cs.However if a 944 is on the cards then you will have to look long and hard to get areally good one.I have spent a long time rebuilding an S2 .I could have bought a Boxter S for what I have spent and if I had not been able to do it myself then the labour costs would have been huge.So if you want to have a Porsche on the drive then keep the one you have,if however you feel the need to own an older car then be prepared for big bills.
 
http://www.ebay.co.uk/itm/1989-PORSCHE-944-S2-WHITE-/290678762116?pt=Automobiles_UK&hash=item43adcdea84
Here is an example of how much an older car could end up costing you
 
The bills spent on this thing are almost as much as it costs the keep a 3 1/2 year old Landrover discovery on the road.[:D]

However, a bit of a re think,having had a couple of out right purchase offers for the boxster from dealers down south this morning for the current cap price, I'm now thinking of making an actual attempt at selling it privately. However instead of an old car I'm toying with the idea of getting a 996 of some description.
Once again I have to ask, are the horror stories associated with the 996 engines really that common as some of the early cars do look like good value?

Thanks Richard

ORIGINAL: kitchens

http://www.ebay.co.uk/itm/1989-PORSCHE-944-S2-WHITE-/290678762116?pt=Automobiles_UK&hash=item43adcdea84
Here is an example of how much an older car could end up costing you
Click to expand...
 
I would reckon you will get £15k for you boxster, perhaps a little more depending on colour and spec,

tips are more difficult to sell as are certain colours,

service cost should be low if using an independant, (service is only every second year !) expect £400 to £600 depending on what it needs but the value will continue to drop, around £1000 per year if the mileage is kept low,


buying a 3.2 or 944/968 then you will have almost no depreciation, but ensure you have the car fully checked by either porsche or a reputable independant as its vert easy to have bills in excess of £1k on mechanical work,


the boxster s will be much nicer to drive than a 3.2 carrera in terms of comfort etc, but will lack the old wordly fell of a flat six aircooled, (I think most of the money has really depreciated out of your boxster and anything you save on deprectiation cost will be easilty taken up in service and repair costs)


unfortunately there is always a cost of owning a porsche old or new, its either deprectiation or repairs costs, as with any other car,

there were and are a few porsches that have the potential to increase in value, if you figure out what the next big one is, keep it quiet, as everyone is keen to know where the prices of old porsche will go,

regards
scott
 
Early 996's appear to be good value for a reason. In my opinion, the only safe 996's are those with a Metzger engine, those that have a Porsche factory replacement unit or ones which have the Hartech IMS mod.
 
I know what you mean about the metzger but I don't have GT3 money to spend on a 3rd car. There seems to be a number of turbo's around at reasonable money but most people I've spoken with about the model all seem to conclude that the tiptronic is the best one to go with where as my preference would be manual.
A c4s is appealing but once again it's getting a good on at real world money. Talking of real world money I've found it quite surprising that the opc's I've spoken to with a view of trading my boxster have offered the least value against it. I think the lesson to be learned is don't bother throwing money away on opc servicing as it appears to make difference at all when it comes to trade out time.
 
I am a fan of the 944 (and 968).

The Ebay example above had £10k spent on it in 10 years. That is not a lot really - budget to spend £1k per annual - maybe less if you buy wisely. I have an s2, a turbo and a project turbo.

Don't be put off by concerns over picking up a terrible car. Do your homework, seek assistance in purchasing and buy at the right end of the market (maybe £6.5k to £7k for a top Turbo privately) and you will likely be buying a car with all the big jobs done and a few mods too. You will not regret it.

 
ORIGINAL: chard
There seems to be a number of turbo's around at reasonable money but most people I've spoken with about the model all seem to conclude that the tiptronic is the best one to go with where as my preference would be manual.
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You've been speaking to the wrong people then, a turbo manual is a wonderful thing and the market prices them higher. As a road car a 996 turbo is very very hard to beat.
 

ORIGINAL: simkin911

I am a fan of the 944 (and 968).

The Ebay example above had £10k spent on it in 10 years. That is not a lot really - budget to spend £1k per annual - maybe less if you buy wisely. I have an s2, a turbo and a project turbo.

Don't be put off by concerns over picking up a terrible car. Do your homework, seek assistance in purchasing and buy at the right end of the market (maybe £6.5k to £7k for a top Turbo privately) and you will likely be buying a car with all the big jobs done and a few mods too. You will not regret it.
Click to expand...

I do quite fancy a turbo 944, however I've read quite a few thread explaining that if you want to get the best out of the car it needs a LSD. Would you say that this is the case? Thanks Rich
 
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