Current market
Discussion
av185 said:
Relatively high 22000 miles poverty spec comfort seats no extended leather and placcy dash door tops and centre console.
Mines same age much better spec mint condition with carbon buckets carbon chrono climate red belts and red stitching top marker etc etc etc with just 4k miles 1 owner myself and specced by me new. . Probably worth £75k.
Don't you like driving it Mines same age much better spec mint condition with carbon buckets carbon chrono climate red belts and red stitching top marker etc etc etc with just 4k miles 1 owner myself and specced by me new. . Probably worth £75k.
Sukh13 said:
If they aren't selling after a year on AT, at what point do dealers clear stock to make money selling different stock?
A year for sale suggests they aren't priced right?
Appreciate that older models appear to have found a floor, but a year on sale?!
Having a car stuck for sale in stock for a year is not good business! A year for sale suggests they aren't priced right?
Appreciate that older models appear to have found a floor, but a year on sale?!
bennno said:
av185 said:
Prestige cars were seriously hit in the financial crisis of 2008/9.
Was a mad time I brought a new vxr8 for £21k versus its £39k price with the one condition they'd pre reg it and I'd need to wait 12 months for the v5.....PRO5T said:
bennno said:
Was a mad time I brought a new vxr8 for £21k versus its £39k price with the one condition they'd pre reg it and I'd need to wait 12 months for the v5.....
A mate did that with a car for me, they put it through the books as a demonstrator.TDT said:
PRO5T said:
bennno said:
Was a mad time I brought a new vxr8 for £21k versus its £39k price with the one condition they'd pre reg it and I'd need to wait 12 months for the v5.....
A mate did that with a car for me, they put it through the books as a demonstrator.So to answer your question, its just a way to discount without raising any eyebrows from the higher ups.
TDT said:
PRO5T said:
bennno said:
Was a mad time I brought a new vxr8 for £21k versus its £39k price with the one condition they'd pre reg it and I'd need to wait 12 months for the v5.....
A mate did that with a car for me, they put it through the books as a demonstrator.To get round manufacturer demonstrator incentives and leverage tax write down rules from memory.
It's the opposite for last few years of scarcity - dealers now pre regging to sell above manufacturer list..
bennno said:
I recall buying 4 y/o 997’s with 30k miles for £35k in 2010 or thereabouts.
Bit expensive plus cost of borrowing is slowing demand significantly in the market, as it was intended to.
Although £35k in 2010 is around £56k in today's money..from one of the online calculators:Bit expensive plus cost of borrowing is slowing demand significantly in the market, as it was intended to.
"£35 in 2010 is equivalent in purchasing power to about £56.24 today, an increase of £21.24 over 14 years. The pound had an average inflation rate of 3.45% per year between 2010 and today, producing a cumulative price increase of 60.69%."
Something I always forget to mention when explaining to my wife how our cars have retained their value
Venosta said:
bennno said:
I recall buying 4 y/o 997’s with 30k miles for £35k in 2010 or thereabouts.
Bit expensive plus cost of borrowing is slowing demand significantly in the market, as it was intended to.
Although £35k in 2010 is around £56k in today's money..from one of the online calculators:Bit expensive plus cost of borrowing is slowing demand significantly in the market, as it was intended to.
"£35 in 2010 is equivalent in purchasing power to about £56.24 today, an increase of £21.24 over 14 years. The pound had an average inflation rate of 3.45% per year between 2010 and today, producing a cumulative price increase of 60.69%."
Something I always forget to mention when explaining to my wife how our cars have retained their value
£10,000 is £14,926
So basically 50% extra.
Ed.Neumann said:
Once a car gets to 8 years old it becomes a very niche market, well in the UK at least, because finance with a balloon is no longer available. (Rare and very high end stuff excluded).
So you get into no mans land for the 90% of UK buyers who finance their cars, well you do on cars at this price. £25k is fine, £35k is OK for many, might have a bit of equity or a car they are selling they can put towards the new one, £40k seems to sell. But £50k is starting to put the monthlies as high if not higher than buying a 4-5 year old car on PCP.
Plus you have to take into account it is now a 10 year old car and that comes with far more extra costs. Things will be starting to wear and need replacing, you will probably want a warranty on that so another £120 a month or so, plus you need to service it with Porsche to have a hassle free warranty experience, so if you are paying all that extra a bit of man maths says why not buy the 5 year old car from an OPC with 2 years warranty and get them to throw in the third year as part of the deal? For those financing it will be the same sort of price.
£50k purchase with £10,000 deposit is still £850 a month over 60 months.
£70k car from OPC with 2 years warranty is £840 a month with the same £10k down, albeit with a £35k balloon at the end.
But you can convince yourself at the end of the term you will stick another £5k in and a get a bank loan for £550 a month until it is yours.
However, the cars at £37k go straight away. £7k in, £550 a month and at the end you own it. Bingo!
You raise some interesting points here. However circumstances vary where picking up an older car may be the right choice. So you get into no mans land for the 90% of UK buyers who finance their cars, well you do on cars at this price. £25k is fine, £35k is OK for many, might have a bit of equity or a car they are selling they can put towards the new one, £40k seems to sell. But £50k is starting to put the monthlies as high if not higher than buying a 4-5 year old car on PCP.
Plus you have to take into account it is now a 10 year old car and that comes with far more extra costs. Things will be starting to wear and need replacing, you will probably want a warranty on that so another £120 a month or so, plus you need to service it with Porsche to have a hassle free warranty experience, so if you are paying all that extra a bit of man maths says why not buy the 5 year old car from an OPC with 2 years warranty and get them to throw in the third year as part of the deal? For those financing it will be the same sort of price.
£50k purchase with £10,000 deposit is still £850 a month over 60 months.
£70k car from OPC with 2 years warranty is £840 a month with the same £10k down, albeit with a £35k balloon at the end.
But you can convince yourself at the end of the term you will stick another £5k in and a get a bank loan for £550 a month until it is yours.
However, the cars at £37k go straight away. £7k in, £550 a month and at the end you own it. Bingo!
I bought a 991.1 C2S Cab with 9,200 on the clock, single owner with all the bells and whistles last year from OPC. The car had been serviced by that OPC all it's life. They knew the owner better than he knew himself.
It is a 2012 car (so 11 years old when I bought it) and I paid (64K) including a 2 year warranty, a Porsche driving experience and Ceramic treatment (that was 4K+ for all three). I traded in my SL 63 and got 33K. In that case I did not even consider a balloon payment as a straight HP made more sense. If I choose to trade in about 3 years time the car will still be under warranty (assuming I extend) and should have a healthy value with the usual last of the NA gen blah blah sell.
My point is I see cars not for how old they are but for the mileage. Maybe I am naive but the truth is the mileage is more relevant to any issues one is going to have rather than the age (that obviously includes maintenance etc). Sometimes going for older is a better deal. I assume this means I am appealing to a more nuanced clientele - a thinking one. I will average 5K a year and in 3 years it will have 25K on the clock with a full OPC service history. My thinking is it should sell and be viable for a trade in.
As this is my first Porsche I am interested to get owners views who are on their 2nd ,3rd,4th Porsche........am I dreaming or is there method to my madness (yes I know there will no warranty offered by Porsche once it hits 15 years so I may be trading in at the 14 year mark).
Edited by FrancisA on Friday 7th June 19:54
I think that if the basis for your purchase makes you happy that is all that matters. Although mileage is a factor I am more likely to buy on condition and history because mileage alone doesn't take into account things such as number of cold starts and average miles per engine operating hour.
g7jhp said:
£35,000 is £52,241 (BoE Inflation Calc).
£10,000 is £14,926
So basically 50% extra.
I stand corrected but the point is still the point..after many years of low inflation many of us are of a generation where we have adjust to the fact that £35k in 2010, say, is more than £50k now. And if the car we bought for x in 2010 is worth x now, no, it hasn’t retained its value. £10,000 is £14,926
So basically 50% extra.
BAMoFo said:
I think that if the basis for your purchase makes you happy that is all that matters. Although mileage is a factor I am more likely to buy on condition and history because mileage alone doesn't take into account things such as number of cold starts and average miles per engine operating hour.
Condition is fantastic. Full inspection and warranty from PorscheFrancisA said:
You raise some interesting points here. However circumstances vary where picking up an older car may be the right choice.
I bought a 991.1 C2S Cab with 9,200 on the clock, single owner with all the bells and whistles last year from OPC. The car had been serviced by that OPC all it's life. They knew the owner better than he knew himself.
It is a 2012 car (so 11 years old when I bought it) and I paid (64K) including a 2 year warranty, a Porsche driving experience and Ceramic treatment (that was 4K+ for all three). I traded in my SL 63 and got 33K. In that case I did not even consider a balloon payment as a straight HP made more sense. If I choose to trade in about 3 years time the car will still be under warranty (assuming I extend) and should have a healthy value with the usual last of the NA gen blah blah sell.
My point is I see cars not for how old they are but for the mileage. Maybe I am naive but the truth is the mileage is more relevant to any issues one is going to have rather than the age (that obviously includes maintenance etc). Sometimes going for older is a better deal. I assume this means I am appealing to a more nuanced clientele - a thinking one. I will average 5K a year and in 3 years it will have 25K on the clock with a full OPC service history. My thinking is it should sell and be viable for a trade in.
As this is my first Porsche I am interested to get owners views who are on their 2nd ,3rd,4th Porsche........am I dreaming or is there method to my madness (yes I know there will no warranty offered by Porsche once it hits 15 years so I may be trading in at the 14 year mark).
I can't answer your question, but the point I was trying to make is you are a bit of an exception. I bought a 991.1 C2S Cab with 9,200 on the clock, single owner with all the bells and whistles last year from OPC. The car had been serviced by that OPC all it's life. They knew the owner better than he knew himself.
It is a 2012 car (so 11 years old when I bought it) and I paid (64K) including a 2 year warranty, a Porsche driving experience and Ceramic treatment (that was 4K+ for all three). I traded in my SL 63 and got 33K. In that case I did not even consider a balloon payment as a straight HP made more sense. If I choose to trade in about 3 years time the car will still be under warranty (assuming I extend) and should have a healthy value with the usual last of the NA gen blah blah sell.
My point is I see cars not for how old they are but for the mileage. Maybe I am naive but the truth is the mileage is more relevant to any issues one is going to have rather than the age (that obviously includes maintenance etc). Sometimes going for older is a better deal. I assume this means I am appealing to a more nuanced clientele - a thinking one. I will average 5K a year and in 3 years it will have 25K on the clock with a full OPC service history. My thinking is it should sell and be viable for a trade in.
As this is my first Porsche I am interested to get owners views who are on their 2nd ,3rd,4th Porsche........am I dreaming or is there method to my madness (yes I know there will no warranty offered by Porsche once it hits 15 years so I may be trading in at the 14 year mark).
Not many people have £40,000 to put down as a deposit on a car, hence even if they want to buy the 10 year old car they can't.
That was my point.
Edited by Ed.Neumann on Saturday 8th June 11:28
Youforreal. said:
I remember selling my 56k miles c4s back in 2009 for 25k
You need to adjust prices though to be able to compare…£25k in 2009 is equivalent to £39k now with just basic monetary inflation. 2009 was also right in financial crisis - I remember being offered a Ferrari 550 for £28k around that time, which seemed expensive and was way out of my budget - I was driving a Maserati 3200 at the time.Edited by johnnyBv8 on Saturday 8th June 21:56
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