981 Market Advice
Discussion
Hi, looking for some thoughts and advice on where everyone things the 981 Boxter/Cayman market is going.
Having cancelled an order for a MB350 Coupe last year, because of the pandemic, I am now looking to get back in to Porsche ownership.
My worry is that now is possibly not a great time to buy, with prices definitely inflated from where they were, even from mid last year. I remember Ashgood’s had a nice Cayman S for sale last year at £30k, but prices seem plus 10-15% minimum currently from this level. If I buy now am I in risk of the market re-aligning at some point in the next 12 months, and over paying currently?
Having cancelled an order for a MB350 Coupe last year, because of the pandemic, I am now looking to get back in to Porsche ownership.
My worry is that now is possibly not a great time to buy, with prices definitely inflated from where they were, even from mid last year. I remember Ashgood’s had a nice Cayman S for sale last year at £30k, but prices seem plus 10-15% minimum currently from this level. If I buy now am I in risk of the market re-aligning at some point in the next 12 months, and over paying currently?
I think it will go down as prices for all used cars seem to be high in recent months. Plus more 718 will filter into the market and irrespective of where you sit regarding the sound versus performance arguements, the fact is for most buyer age (or rather lack of age and miles) is a key factor.
How much you will lose? I've no idea. But I wouldn't over think these things, just buy the car you want (if you can afford it) and drive it. More smiles per miles (unless you get your kicks cleaning and looking at it).
How much you will lose? I've no idea. But I wouldn't over think these things, just buy the car you want (if you can afford it) and drive it. More smiles per miles (unless you get your kicks cleaning and looking at it).
They have inflated since last summer, that’s for sure.
Cridfords have cars in stock similar to those that were 35k last summer going for 40+.
I was looking at that time and the entry point for a 981CS was 27.5 or so. That’s 2.7L territory today.
I suspect they’ll go up and down with the rest of the market. All used cars are strong at the moment - but place your bets now for next year.
What I would say, having learnt it last year is; these are spec sensitive cars for both the buyer and the market - it all emanates from Porsche being notoriously stingy when it comes to options. If you’re picky on spec (as many of us are) then you may wait a while for the right car which firms the price up.
Unless a few grand loss is really unacceptable, I would just wait for the right spec car and pounce. They’re brilliant.
Cridfords have cars in stock similar to those that were 35k last summer going for 40+.
I was looking at that time and the entry point for a 981CS was 27.5 or so. That’s 2.7L territory today.
I suspect they’ll go up and down with the rest of the market. All used cars are strong at the moment - but place your bets now for next year.
What I would say, having learnt it last year is; these are spec sensitive cars for both the buyer and the market - it all emanates from Porsche being notoriously stingy when it comes to options. If you’re picky on spec (as many of us are) then you may wait a while for the right car which firms the price up.
Unless a few grand loss is really unacceptable, I would just wait for the right spec car and pounce. They’re brilliant.
Edited by Royal Jelly on Wednesday 26th May 09:24
As per above. Spec-sensitive. I know I paid £1-2k more as the interior/exterior colour combo was very nice, plus it has Sports Chrono. But won’t that always be the case and remain relative?
I also doubt if the 981 will take a big hit now. We’ve clearly passed the 3 year min age zone where PCP cars are still coming to market.
And Boxster prices may firm up with spring heading our way.
I gave up fretting and bought mine in December thinking it was relatively well priced for how it made me and SWMBO feel.
I still check on AT to see if I’d been done, but that’s me...
I also doubt if the 981 will take a big hit now. We’ve clearly passed the 3 year min age zone where PCP cars are still coming to market.
And Boxster prices may firm up with spring heading our way.
I gave up fretting and bought mine in December thinking it was relatively well priced for how it made me and SWMBO feel.
I still check on AT to see if I’d been done, but that’s me...
Topbalcblue said:
Thanks all. As I am sure you agree once you start the search it’s hard to stop yourself! I am going to take my time and wait for the right one. I got burnt by a 997 CS with scored bores a number of years ago, so I want to find the right one, which will be a keeper.
I had my car inspected prior to purchase. They checked the engine for over revs and i received a very in depth report on the car. It put my mind at rest. It was about £500. If it’s of interest to you I can look in my paperwork to se who did it?I’ve been looking for quite a while now. To be fair it started by just browsing, but or a long while now I’d like to purchase as soon as I can find the right car.
It does feel like the market is way up on where it was 12 months ago across the board, especially on certain models. I'm not an expert, but for me it feels like there are a number of factors at play.
It may just down to supply and demand. There are a lot less cars on the market than there were 18 months ago. Maybe that will correct itself in a few months. There also feels like a huge decrease in the number of private sales, and this is playing into the dealers hands. Less people are potentially purchasing because they can’t go and see/test drive the cars. So there is less stock circulating as people trade in and trade up.
Some dealers are playing sensibly with a slight increase in price, but some dealers (especially the OPCs) are putting a huge margin on some of their used stock. This is turn could make others feel that they can also further hike the price of their cars as relatively they don’t look so silly. But I guess the dealers are in the business of making profit on cars so if they have the opportunity then it’s no surprise they are taking it. I'm sure there are lots of other factors at play in the market which I am unaware of that are also influencing this.
I’m just hoping that we see some normalisation soon. Like some of the others have stated I’d rather not pay a premium that may evaporate (to some degree) over the next few months. One thing is sure, and that is this is very hard to predict. After the last lockdowns lifted the prices went up even more, so could happen again. But in saying that, if the right thing came along I would be tempted just to get the car and enjoy it regardless.Life is too short.
It does feel like the market is way up on where it was 12 months ago across the board, especially on certain models. I'm not an expert, but for me it feels like there are a number of factors at play.
It may just down to supply and demand. There are a lot less cars on the market than there were 18 months ago. Maybe that will correct itself in a few months. There also feels like a huge decrease in the number of private sales, and this is playing into the dealers hands. Less people are potentially purchasing because they can’t go and see/test drive the cars. So there is less stock circulating as people trade in and trade up.
Some dealers are playing sensibly with a slight increase in price, but some dealers (especially the OPCs) are putting a huge margin on some of their used stock. This is turn could make others feel that they can also further hike the price of their cars as relatively they don’t look so silly. But I guess the dealers are in the business of making profit on cars so if they have the opportunity then it’s no surprise they are taking it. I'm sure there are lots of other factors at play in the market which I am unaware of that are also influencing this.
I’m just hoping that we see some normalisation soon. Like some of the others have stated I’d rather not pay a premium that may evaporate (to some degree) over the next few months. One thing is sure, and that is this is very hard to predict. After the last lockdowns lifted the prices went up even more, so could happen again. But in saying that, if the right thing came along I would be tempted just to get the car and enjoy it regardless.Life is too short.
Edited by AAAndy on Tuesday 9th March 19:09
keo said:
I had my car inspected prior to purchase. They checked the engine for over revs and i received a very in depth report on the car. It put my mind at rest. It was about £500. If it’s of interest to you I can look in my paperwork to se who did it?
I don't want to be unkind, but £500 to inspect this kind of car is pretty outrageous. And checking the over revs, for the record, can be done in about 30 seconds. Suspect most of the time and effort went into knocking up a document that seemed superficially impressive enough to justify the huge fee as opposed to inspecting the car.£200 is ample to inspect something like a 981 as thoroughly as can be done via the usual visual inspection / without pulling the thing apart. £300 at the absolute most. There's only so much you can check without it becoming invasive or very labour intensive. In other words, it's hard to imagine what you got in your £500 report that someone charging £200 and doing a proper job of it at a sensible labour rate couldn't cover off.
I bet your inspection didn't include anything like borescoping, leakdown tests, testing the coolant for carbon, analysing transmission or engine oil etc. Would have just been an external visual inspection, up on a ramp to look underneath, a wiggle of the wheels to look for worn suspension parts and similar, plug it in to pull the codes and check the revs, and maybe a test drive. Which is fine. Unless you charge £500 pounds, at which point it's a bit ridiculous.
£500 is so much, it's getting close to the point where it invites doubts over the ethics and competence of the people doing it.
That said, agree that getting an inspection is well worth while. Just find a competent workshop that charges a fair price.
F6C said:
Lots of stuff
Well that is a fair old response...£500 is not a lot of money in the grand scheme of things when compared to the purchase price of the car I bought (981 gt4)
I have never spent this amount of money on a car before and it took the stress out of the purchase. Yes I could of gone opc but I still saved quite a substantial amount having my “expensive” report done and buying from a non Porsche garage.
For the cost and my peace of mind I feel it was well worth it. Different people have different opinions though.
£500 isn't a lot of money in that context, no. That doesn't prevent it from being a rip off.
It's possible it was a reasonable fee. Perhaps the work involved justified it, but it's pretty hard to imagine how / what went into the inspection that warrants that kind of fee. Strikes me as a significant overcharge. And if they're willing to do that, would undermine my confidence in the job they'd done.
Anyway, I'd argue that an inspection is worthwhile, but one should seek to pay far less than £500.
It's possible it was a reasonable fee. Perhaps the work involved justified it, but it's pretty hard to imagine how / what went into the inspection that warrants that kind of fee. Strikes me as a significant overcharge. And if they're willing to do that, would undermine my confidence in the job they'd done.
Anyway, I'd argue that an inspection is worthwhile, but one should seek to pay far less than £500.
F6C said:
£500 isn't a lot of money in that context, no. That doesn't prevent it from being a rip off.
It's possible it was a reasonable fee. Perhaps the work involved justified it, but it's pretty hard to imagine how / what went into the inspection that warrants that kind of fee. Strikes me as a significant overcharge. And if they're willing to do that, would undermine my confidence in the job they'd done.
Anyway, I'd argue that an inspection is worthwhile, but one should seek to pay far less than £500.
I just checked I paid £410. Maybe I was ripped off, I don’t know but I was happy with it. I am not a font of knowledge all things Porsche. I have friends who are into them. They say this inspection is very good. Who knows? I will leave it at that. Sorry op I was just trying to help!It's possible it was a reasonable fee. Perhaps the work involved justified it, but it's pretty hard to imagine how / what went into the inspection that warrants that kind of fee. Strikes me as a significant overcharge. And if they're willing to do that, would undermine my confidence in the job they'd done.
Anyway, I'd argue that an inspection is worthwhile, but one should seek to pay far less than £500.
My feeling is that 981 prices will harden or even go up a little further.
SWMBO picked up a 2.7 981 first lockdown at a crazy price - sub 20k. It's a really impressive car in many areas, with niggles being mainly around Porsche's standard equipment/options list miserliness. The NA flat six is creamily smooth to 7.5k and sounds epic, despite not being overly rapid in Pork terms, and the long gearing of the manual means lazy driving when not 'on it' as 3rd pretty much does 15-85mph almost like an auto mode. You have to drive it tidily to get the best from it, so it's a challenge and fun to drive. Personally, I prefer the interior and exterior to the 781 but would prefer the improved spec and tech of later cars for sure.
The problem now is I want her to trade up to an S or GTS in another year or so, and those are moving up at the same rate.
IMO the 981s are loitering in a sub-classic zone of NA engines, manual gearboxes and still have enough old school charm, character and challenge to entertain when things go full Tesla - I drove a Dual Motor Tesla 3 and it's a great car and very rapid, but not as much fun as a 981 in driver's terms I think. Just as 997 gen 2s are in a sweet spot, I think the 981 will do well residual-wise and the bargains will be in the 781 range. Indeed, from memory of the classifieds a month ago, you could possibly even get into a 781 for less than an equivalent mileage 981 even with a year or two difference and spec/tech gap?
SWMBO picked up a 2.7 981 first lockdown at a crazy price - sub 20k. It's a really impressive car in many areas, with niggles being mainly around Porsche's standard equipment/options list miserliness. The NA flat six is creamily smooth to 7.5k and sounds epic, despite not being overly rapid in Pork terms, and the long gearing of the manual means lazy driving when not 'on it' as 3rd pretty much does 15-85mph almost like an auto mode. You have to drive it tidily to get the best from it, so it's a challenge and fun to drive. Personally, I prefer the interior and exterior to the 781 but would prefer the improved spec and tech of later cars for sure.
The problem now is I want her to trade up to an S or GTS in another year or so, and those are moving up at the same rate.
IMO the 981s are loitering in a sub-classic zone of NA engines, manual gearboxes and still have enough old school charm, character and challenge to entertain when things go full Tesla - I drove a Dual Motor Tesla 3 and it's a great car and very rapid, but not as much fun as a 981 in driver's terms I think. Just as 997 gen 2s are in a sweet spot, I think the 981 will do well residual-wise and the bargains will be in the 781 range. Indeed, from memory of the classifieds a month ago, you could possibly even get into a 781 for less than an equivalent mileage 981 even with a year or two difference and spec/tech gap?
rockin said:
New car prices are rocketing.
Used car prices will rocket when lockdown comes to an end and demand picks up - just like last time.
Buy now to avoid disappointment.
Interesting report from Gap up to March 8th . Used prices dropped overall 3% last year , sports cars up 7% .Used car prices will rocket when lockdown comes to an end and demand picks up - just like last time.
Buy now to avoid disappointment.
Trade prices have dropped but used staying stable .Used car sales have dropped 40% since Christmas,but Dealers keeping stock on forecourt not discounting.
Moving forward they hope April will be the new March.
Also noted influx of used coming into the market ,pcp return repos etc.
Dont believe them when they say that used stock is in short supply
Edited by tedblog on Wednesday 10th March 10:41
tedblog said:
Interesting report from Gap up to March 8th . Used prices dropped overall 3% last year , sports cars up 7% .
Trade prices have dropped but used staying stable .Used car sales have dropped 40% since Christmas,but Dealers keeping stock on forecourt not discounting.
Moving forward they hope April will be the new March.
Also noted influx of used coming into the market ,pcp return repos etc.
Dont believe them when they say that used stock is in short supply
There are lots of factors at play here, but regarding your last point about supply; many folks have realised (due WFH) that they don’t need the daily practicalities that their current car offers. Some don’t even need a car at all. All of this increases their propensity to have something fun on the driveway. Trade prices have dropped but used staying stable .Used car sales have dropped 40% since Christmas,but Dealers keeping stock on forecourt not discounting.
Moving forward they hope April will be the new March.
Also noted influx of used coming into the market ,pcp return repos etc.
Dont believe them when they say that used stock is in short supply
Edited by tedblog on Wednesday 10th March 10:41
So yeh, this has caused a glut of cars in one category and a relative shortage in another.
tedblog said:
That's a photo of Rockingham speedway. Last time I was there Indycars (CART) were going round it at over 200 mph." Today, it is being used as a storage facility for former hire and ex-lease vehicles before they are sent to auctions or second-hand dealers' forecourts. Rockingham Motor Speedway opened in 2001 but went into administration in 2016 and was closed as a circuit location in 2019.19 Feb 2021"
You'd need some very powerful binoculars to find any "interesting" cars among all that humdrum, ex-rental tat.
anonymous said:
[redacted]
I would say late summer early autumn?Obviously still ongoing judging by the report?
https://www.thisismoney.co.uk/money/cars/article-9...
Thats alot of cars?
WBAC values do seem very high at the moment. I presume is a reflection of the general market demand as we move into spring.
The valuation I got yesterday on mine was the highest it's been since Feb-19.
Good time to cash out if you're moving it on I guess, the problem for me is I really like the car so will prob hang onto it. Tempting to sell for these valuations though!
The valuation I got yesterday on mine was the highest it's been since Feb-19.
Good time to cash out if you're moving it on I guess, the problem for me is I really like the car so will prob hang onto it. Tempting to sell for these valuations though!
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