996TT pricing - has the bleeding stopped yet?
 

For those who have been watching the 01-05 Turbo market for the past few years, have you noticed that the resale values have started to firm up yet? Or are they still dropping precipitously?

In the past two years I have owned these cars:
'07 C6 Z06
'08 C6 Z06
'07 335i
'08 Mitsu Evo
'11 Mustang GT

So as you can tell, I churn through them quickly. Resale is very important, although I suspect I would keep the 996tt longer than the above.

My thinking was to shop for an '02-'03 X50, low miles as possible. Stay in the mid-$40k range. Those cars have probably gone through the worst of depreciation already, would you agree/disagree?

Thanks!

Seems to have bottomed out from my experience. Had mine since early 2009 and think I could get similar to my purchase price +/- mods depending on buyer.

Good luck with the hunt-

I just got a trade number on mine from a Porsche deal. I have an 01 TT with 6K miles on it; concours winner. I'm the original owner, the car is perfect with all service records etc. Wanted to trade on a new turbo cab. They offered me $32K.

^and you replied with???

Cars are around 1/3 of original retail, and you want a better price?

If you stay in the high $30's to low $40's, you probably won't lose a lot of money, but you may still have a hard time selling the car. There are a lot of them in the market place right now. There are 233 996 turbo's listed on autotrader right now with less than 60,000 miles (118 of which have less then 30,000 miles on them). Of these cars, only 89 are asking more than $50,000.

Later, Steve

i purchased my car back in May at a price of $32k. Its a Seal Gray 02 Tip car that had 67k on it, and it had EVOMS intercoolers, and a fabspeed exhaust on it. It had a few cosmetic things that needed fixing, but i fixed everything for under $300. I was looking the other day, and could not find anything for under $40k. So, i am assuming that the values are starting to rebound a little bit, either that, or the asking prices are staying high, and no one is buying??

You won't find many people actually paying over 35-37k for an 01, especially if it has higher mileage. Asking price is not necessarily an indication of the market right now. It is very hard to sell a car like the 996tt in this type of market.

i have always been watching the market price on them since i got my car and they do seem to be going up a bit over the last 3-4 months

The NADA Value of these cars can be much lower than what some people are asking, and since banks, credit unions, etc... only loan NADA retail, that makes someone looking for an exceptional car having to pay a large amount of $$ down for their dream car. the sub $40k cars are much more likely to sell for that reason.

I'll give you $33K :D

scott,
i financed part of my 03 996tt. the bank said they would finance up to $67,000 towards it. so finiancing for me was easy , plus a rate of 2.5% made it a no brainer.

BTW i paid high 40's for it plus fees.

scott

Did you purchase recently? I was under the impression very few banks would lend money on a car older than 7 years.

i got mine in july. i had no problem with financing whatsoever. i was approved at the dealer, but i had already shopped the financing around before hand and the dealer could not beat the rate that i got from another bank.

Mine was an 02 with x50, booked for nearly 10k over what I purchased it for.

Depends if bank uses NADA whole-sell or retail value