997Current model of the 911 C2, C2s, C4, C4S, Targa and Cabriolet Discussion. Sponsored ByHRE Wheels
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A lot of discussion has been geared to the Turbo drop where a 150K car can be bought for approx.90K. That's pretty significant.
A low mile (under 10K) CPO 05 -08 is still holding that 50-65K range .
So I started looking at other cars and am amazed at the drop . Here's just a few ...MSRP asking prices before discounts (under 20K mi)
an 07 E350 = low 30's
an 07 AMg E63 = mid 50's . This was a 96K car new .
An 06 to 07 BMW 7 series = 50's and 40's That's right MID 40's for an 85K BMW.
08 M3 - under 10K mi (low 50's) for a 70K new car.
I stopped looking . I am amazed .
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Absent any other info inputs, I'd say that data suggests that folks buy a Porsche for exclusive reasons such as the unique driving experience whereas some of the others have close competitors so the specific make/model may not matter to those shoppers as much. Thus the Porsche shopper has fewer alternatives, and more desire for that specific make and maybe model.
Traditionally Porsche has always retained there value better then other vehicles. The current economy has hurt the value of the cars a little, but it is not as bad a the ones that Larry pointed out. I think that the 997S is an excellent buy at the current prices. A slightly used one for about 1/2 price of new, put a few mods on it like some of us have and you end up with a car that can hold it's own. Another thing that is helping the 997S out is that it is such an easy car to drive and live with, can be used as a DD, can take a family (with small kids) out, and is a blast to drive. The Porsche 911 is also a car that many have grown up dreaming about, and can afford one at the prices they are selling for.
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I think the main reason for 997 holding its price is because of the 996 and 993 that is in the market. 996 is selling from 20 to 40K, whereas 993 is between 30 to 50K, and then there is 996TT at 40 to 60K. These highly desirable 911s are like a cushion below the 997. If the price of a 997 is falling to close to these cars, they will be bought up by buyers before they go down further.
As for Mercedes, BMW and others, while they are still great cars at a few years old, they are not dream cars. Nobody dream about getting the previous gen of these cars. People will only buy them if they're cheap.
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Tim
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Northvan -- I was so stunned by the prices of those other cars that cars that I don't normally consider looked more attractive . I can almost understand a luxury car shopper buying a Bangled 7 series for the first time in my life at those prices . The E class looks like a steal as a family car for those with wive and kids .
Targa Tim - The 993 model is a very special car being that it was not only the last air cooled 911 but also that it was so advanced above its predecessors . A low mile 993tt might someday be a collectors car . I wish I never sold mine.
You have to get one then:P It'd go well with your TT... But seriously you're right it's doing fairly well in the storm...
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You have to get one then:P It'd go well with your TT... But seriously you're right it's doing fairly well in the storm...
I have a real fondness for the 993 model line . I have not seen any with low miles and the Turbo S is even more rare . I have never seen one on the road . At the time that I sold mine a used car sales person tried to convince me to keep it . as much as he wanted to sell my car he told me I'd regret that choice .
I feel that the Porsche pricing success shows a resilience of a high end amongst so many other cars that have tanked . In contrast an 06 BMW 7 series priced the same as a C2S back then and now there's over a $10K price disparity. That's huge .
I have a real fondness for the 993 model line . I have not seen any with low miles and the Turbo S is even more rare . I have never seen one on the road . At the time that I sold mine a used car sales person tried to convince me to keep it . as much as he wanted to sell my car he told me I'd regret that choice .
I feel that the Porsche pricing success shows a resilience of a high end amongst so many other cars that have tanked . In contrast an 06 BMW 7 series priced the same as a C2S back then and now there's over a $10K price disparity. That's huge .
I hear you and I think it's always nice to have a Turbo as well as an NA car since they're so different. Check Craigslist out though because at least in California right now you can find crazy deals!
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I for one looked at an '08 e92 M3 and was close to pulling the trigger, but for a couple of thousand more an '07 911S could be had. Well it was an obvious no brainer. I even considered an '06 Aston Martin for a little more but reliability issues and inferior performance were an issue. A used 911S is the most obvious choice. Thats why their prices are holding right now at the level they are.
Larry, there are literally a hundred used CPO '07 E350's in California and the dealers can't give them away at $28k. Its amazing.
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I for one looked at an '08 e92 M3 and was close to pulling the trigger, but for a couple of thousand more an '07 911S could be had. Well it was an obvious no brainer. I even considered an '06 Aston Martin for a little more but reliability issues and inferior performance were an issue. A used 911S is the most obvious choice. Thats why their prices are holding right now at the level they are.
Larry, there are literally a hundred used CPO '07 E350's in California and the dealers can't give them away at $28k. Its amazing.
Doc -- I am stuck with my M3 . There is no way I will take the loss and it is reliable , its quick , it's comfy ... it's not a 997S . It actually seemed like a great transition car for my girlfriend changing from an E350. when I see the used prices on the E class I can't believe it . The car is so comfortable and reliable . Mercedes had such great customer service . It 28K it's a huge bargain .. for what that car offers. I think the problem is that MB had those 27 month leases and now they are stuck with a fleet of cars and no buyers . When the new model comes out in 2010 they are going to have even more cars and IMO a harder time selling the used cars .
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