Has the used 996TT market finally stabilized
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Let's not forget that a 2001 996TT is at this point 5 model years old. That by todays standards is considered to be an "older" car. The 996TT will continue to drop regardless of the 997TT. It was/is a mass produced vehicle that was heavily leased and that is not good for re-sale. So has the market stabilized? Yes, the 996TT will continue to lose value as it gets older just like all mass produced cars.
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Originally posted by Doug H
I disagree to the extent that the core market for new Porsche Turbos are generally unlikely to opt for a Vette instead of a Porsche turbo. I also do not believe that Vette prices will have that great of an impact on used turbo prices. This website is perhaps more performance oriented or driven than the general public. I think most individuals in the turbo market are more than happy with the performance offered by the turbo and are buying it because they want a Porsche turbo.
In general, I think the core market for turbos and new turbos will be more tempted by falling 360 prices, 430s, Gallardos, and other exotics that can now be driven more frequently. I know I am whereas I remained with Porsche for so long because the Italians were a bit suspect when it came to frequent use. I am now rotating between two Italians for most of my daily driving without maintenance issues.
Porsches biggest challenge will not be outpacing American muscles. Gieven a decent economy, the turbo buyers will be looking to move up, not laterally or back. I think the flood of Italian cars in the $ 130 to $ 170 range have tempted die hard turbo buyers. The other factor is the seemingly high production numbers and large quantity of newer turbos, 360s, 550s, and Gallardos for sale. I think the turbo can tolerate a price increase provided the car receieves a substantial face lift and a susbstantial boost in performance.
I disagree to the extent that the core market for new Porsche Turbos are generally unlikely to opt for a Vette instead of a Porsche turbo. I also do not believe that Vette prices will have that great of an impact on used turbo prices. This website is perhaps more performance oriented or driven than the general public. I think most individuals in the turbo market are more than happy with the performance offered by the turbo and are buying it because they want a Porsche turbo.
In general, I think the core market for turbos and new turbos will be more tempted by falling 360 prices, 430s, Gallardos, and other exotics that can now be driven more frequently. I know I am whereas I remained with Porsche for so long because the Italians were a bit suspect when it came to frequent use. I am now rotating between two Italians for most of my daily driving without maintenance issues.
Porsches biggest challenge will not be outpacing American muscles. Gieven a decent economy, the turbo buyers will be looking to move up, not laterally or back. I think the flood of Italian cars in the $ 130 to $ 170 range have tempted die hard turbo buyers. The other factor is the seemingly high production numbers and large quantity of newer turbos, 360s, 550s, and Gallardos for sale. I think the turbo can tolerate a price increase provided the car receieves a substantial face lift and a susbstantial boost in performance.
My situation is different. My current budget won't allow a new turbo (or GT, Gallardo, etc.), but a used turbo around $70-80k is within reach. So is a new Z06 or Viper, for that matter.
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The TT will not go down to say $ 30k any time soon and I doubt it will go down to even $ 50s (for a decent one) any time soon. Yes it is mass produced, but at a point the price will stabilize because it brings more people and budgets into the mix. One can also get better financing options on the exotic vehicles which makes it more accessible to those on a budget.
With regard to used TTs, some people will just want to own a Porsche Turbo regardless as to whether the Z06 or Viper has comparable numbers. I really think that the people on the site maybe more perfomance oriented than the average Porsche or Ferrari driver. If you are looking for the best bang performance wise, neither Porsche nor Ferrari have probably ever been the best buys in the market. To me, that is not what ownerhsip of these cars is about.
With regard to used TTs, some people will just want to own a Porsche Turbo regardless as to whether the Z06 or Viper has comparable numbers. I really think that the people on the site maybe more perfomance oriented than the average Porsche or Ferrari driver. If you are looking for the best bang performance wise, neither Porsche nor Ferrari have probably ever been the best buys in the market. To me, that is not what ownerhsip of these cars is about.
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Originally posted by medici78
Chebby's new Z06 is a prime example and is actually priced similarly to the average pre-owned 2002 996TT.
Chebby's new Z06 is a prime example and is actually priced similarly to the average pre-owned 2002 996TT.
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I think the market will stabilize when the 997TT debuts.
There are a lot of guys looking for 996TTs b/c the price is so damn cheap and that's at the top of what they can afford (nothing wrong with that).
The new 997TT will be minimum 145K. That's nearly double of what a preowned 996TT goes for. Many guys who are currently in a preowned 996TT will not be able to make the jump to a new 997TT.
Also as many have already said, if there is no significant difference between the 2 (996 and 997), a lot of the 996 guys will pass on the new one as it doesnt warrant a 70k price difference between the 2.
IMO, the demand will always be for the 996TT. I dont think you'll see 996TTs dip into the 50K range for a long time.
There are a lot of guys looking for 996TTs b/c the price is so damn cheap and that's at the top of what they can afford (nothing wrong with that).
The new 997TT will be minimum 145K. That's nearly double of what a preowned 996TT goes for. Many guys who are currently in a preowned 996TT will not be able to make the jump to a new 997TT.
Also as many have already said, if there is no significant difference between the 2 (996 and 997), a lot of the 996 guys will pass on the new one as it doesnt warrant a 70k price difference between the 2.
IMO, the demand will always be for the 996TT. I dont think you'll see 996TTs dip into the 50K range for a long time.
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Originally posted by BCS996TT
I think the market will stabilize when the 997TT debuts.
There are a lot of guys looking for 996TTs b/c the price is so damn cheap and that's at the top of what they can afford (nothing wrong with that).
The new 997TT will be minimum 145K. That's nearly double of what a preowned 996TT goes for. Many guys who are currently in a preowned 996TT will not be able to make the jump to a new 997TT.
Also as many have already said, if there is no significant difference between the 2 (996 and 997), a lot of the 996 guys will pass on the new one as it doesnt warrant a 70k price difference between the 2.
IMO, the demand will always be for the 996TT. I dont think you'll see 996TTs dip into the 50K range for a long time.
I think the market will stabilize when the 997TT debuts.
There are a lot of guys looking for 996TTs b/c the price is so damn cheap and that's at the top of what they can afford (nothing wrong with that).
The new 997TT will be minimum 145K. That's nearly double of what a preowned 996TT goes for. Many guys who are currently in a preowned 996TT will not be able to make the jump to a new 997TT.
Also as many have already said, if there is no significant difference between the 2 (996 and 997), a lot of the 996 guys will pass on the new one as it doesnt warrant a 70k price difference between the 2.
IMO, the demand will always be for the 996TT. I dont think you'll see 996TTs dip into the 50K range for a long time.
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