For those of us who have seen our new purchase of $150 k drop by 2/3's over the years, many shrug their shoulders and chalk it up to a fun ride in a great car. We love the brand and it is a unique group that drives these cars.
To afford it in the first place, we all understand business and an investment this is not. So, my question is, how do you all feel about getting another new 9ll? -- exactly the way you'd like -- knowing that 6 yrs down the road, it's the same story. For some, buying used cars addresses that, to a point... Bottom line: all cars depreciate, I suppose it depends on your tolerance for loss...
Do we go out and do it all again, knowing that it'll take a sh**kicking financially ?? (Can you tell I've been beaten up by too many nice cars that cost a small fortune?)

 

My preference would always be to buy a CPO to take advantage of the other side of the (depreciation) coin. With the 991 though, circumstances with my 997 made it so it made sense to get out of that car, so I broke my rule. Plus, having a launch vehicle gave me peace of mind that it would be state of the art for at least 4 years (or 7 years, if you don't count the mid-cycle refresh). Most importantly to me, it's all about the miles. The more miles I can put on the car, the more I justify the expenses -- purchase, insurance, garage, etc. I would be thrilled to retire the car some day with 100k miles.

 

The 991 is in a different domain than previous 911 base and S cars. The option list and pricing is so extreme that a high optioned car ought to be a long term keeper . As a short term "fun ride" the price can be quite lofty .

 

Good perspective..

 

Bought my 2013 C2S used. Orig owner took delivery in July 2012 and paid sticker+ and traded it 12 months & only 4K miles later for a 2014. He probably took a 30+% haircut. Heavy $ especially when you consider sales tax etc. Dealer told me that in the past 5 years he's bought & traded 8 cars. I guess it all boils down to where you're at. Moral of the story, the best car investment is a dealership.

In 35 years of buying new cars, I've only made one "good" car investment. Bought Ford when it was trading @ $1.90 following the crash. I guess this current "investment" in Porsche cancels out that one brief moment of automobile sanity

 

Unfortunately the only way to get that truely new car feeling, is to buy the car new (with the options you want) and pay for it. For most car purchases, these things are not investments, they are toys. Eventually you get tired of them and you move on and that costs.
I have only made money on a few cars in my lifetime of buying. I bought a '65 fuelie Corvette convertible in 1988 for $49K that was a NCRS top flight car. Sold it for $75K two years later (Now it's worth about $250K). I bought a 911T in 1971 and paid $6800 brand new and eventually sold it, bought it back and resold it again for $11K 10 years later. That car now is also worth a lot more. I have bought a few other cars that I still own which I know are worth way more than I paid for them. These are very special since they are limited production.

 

this is the reason i dont buy brand new cars as toys, you could look into leasing a car that way when your done your done.

 

It is a toy for me as an enthusiast. I track it and focus on the smile per mile I get from it. I dont focus on the cost as money can be earned over and over again when gone but time can't.

 

I like everyone's thinking! If you choose exactly what you want, and keep it for at least 7 years, then it's not so bad. That part about time is gone and money can come back is true. That's why we take great vacations at primo hotels and resorts. It's all about the experience. Same with a Porsche...Plus if we can keep the cars for 20 + years, then maybe we'll make a profit. (That won't happen).

 

I share your concern. One reason I still have my 2012 997.2 GTS is the depreciation factor. The main reason I still have it is that I like it better than any previous 911 I have owned.

However, my GTS had an MSRP of $124,000, pretty pricy even for a 991. I got 10% off of MSRP, but still paid a lot. It now has 7,500 miles and looks brand new. It is worth about $85,000 on trade for a new 991, not including any discount on the 991.

I have lost about $30,000 in two years of ownership on the GTS. Then I go and buy a 991 for about $125,000 or more. In two years, lose about $40,000 on that. I am just tired of getting killed like this. I have been driving 911's since the mid 1980's and love them, but my GTS may be my last.

 

We all feel your pain. Been there done that. Kind of makes you think that maybe we should make these "keepers".

 

It is for this exact reason that I tend to keep my purchased (expensive) cars for at least 5 years.

Leasing as an alternative is hardly a way to avoid the depreciation hit, as you're still paying ~$36K over 2 years and walking away with nothing.

But I doubt that anyone here was surprised that the value if their toy dropped like a stone...

 

I think 911s hold their value reasonably well. But you are depreciating a very expensive asset, and a lot of the buyers are affluent and would rather get EXACTLY what they want rather than settle for your crappy two year old 911 in the wrong color. LOL. But seriously, cars depreciate quickly so buying really, really expensive ones, buying them new, and selling them after a short time is probably the best way to maximize garage depreciation that I can think of.

Either buy less expensive cars or flip them less frequently if you want to reduce annual depreciation. Or if you want to feel better about your high annual car depreciation, take a look at the resale values on BMW 7 series, Mercedes S class or Maseratis in comparison. ;-)

 

I used to buy 911s used, fix them up, sell them for a profit and buy another. One of them I completely rebuilt and chemically stripped. That was a '67 I sold for twice what I bought it for. In fact, I just sold the workshop manual for more than I paid for them. But on the new ones it's been a different story. I'm just glad I had the money to do it! I'll probably be keeping this one for a while; being retired, it's used less than those I commuted 60 miles per day with.

ChuckJ

 

I look at it this way. Nobody, including me, will care what car I drove when I'm dead. Why wring my hands about depreciation when ultimately it doesn't matter?


I can afford it at this moment in time and its something I choose to do.