Said the S2K fan.......

 

market is dead. i've seen 996 Turbos listed in the 50's but not moving. if a Turbo can be had in the 40's i wonder how the non-turbos would stand.

 

Well my fellow Canadian...I'll keep it real. Wheather the prices on 996 are going up, down or steady will have no bearing on your decision to buy one. I'll tell you why.
- If you intend to purchase a mass produced car as an investment, it will be the dumbmest thing anyone can do. Cars depreciate at an average rate of about 20-30% per year.
- If you are waiting for the prices to come down, you will have to wait a while cuase they will keep depreciating year after year. So if you were to buy a 996 today for 40K, they will be 30k the next...then what?
So if you really want one, find one that you like in good shape, buy it, drive it and enjoy it. When comes time to sell, whatever difference in money that you have paid and the money you get for selling is the price you pay for peace of history and a heck of a driving experience. IMO

 

you just trashed yourself WHAHAHAHAHAH

 

well said. look at the damn car as a toy/hobby. an expensive toy/hobby.

 

Very clean original cars will hold their values much better than run of the mill daily drivers, for the most part. But with a new model coming out I can see a further drop soon.

 

it's buyer's market. go score one & never look back!

 

i hear you. i test drove a 996 TT this weekend and didn't really like it that much. I just HATE turbo lag. Superchargers seem the only real option, that or a GT3, but that's more coin than i'm wanting to spend.

 

As for the early boxsters, there are plenty of 2.5s out there under $10K. Lots of 100K+ mile cars (decent mileage if you consider it's actually been driven) that are asking $12K and if you get a PPI i promise you can find $2-3K in repairs that you can use to negotiate the car under $10K.

As for 996s and my reason for the inquiry:

I am looking to buy, and I couldn't care less what the car will depreciate to. I will most likely drive it until it's as depreciated as it'll get. I want a car I can keep for 5 years, put 100K+ miles on and drive it like a stole it. I will most likely be driving in the winter months. I want a daily driver. I understand the costs involved and if I were concerned with them I would be looking at Honda's or Toyotas. I truely think that I can get a good value/fun mix and keep true to my passion for these cars by driving them.

A 996 seems ideal for this. They have all the creature comforts of a modern car (heat) and can deffinetly be 'adjusted' to feel more like a true Porsche (read: Raw).

I'm kinda all over the place here, my main point was to find out if you guys think that the prices will continue to dip through the winter months. Enough so to merrit holding out until mid winter to try and find one for a bargain price.

And there have been some gorgeous cars posted here for $29-33K. One black car with some nice body work and rims started at $35K 5 months ago and is now asking $29K. I'd be willing to bet the cars that have been moving are either pristine or are fetching far below asking most of the time.

 

Prices will continue to go down regardless of condition. I've been looking out to purchase a 996 as well and started keeping an eye on them since last year. From what I've noticed its been about a $5k drop since last year across the line.

 

tellme about it. i test drove a 997TT and yes a fantastic gt coupe...

definitely lags. GT3 is the way to 911 superstardom really.

 

If there are "plenty" good cars should be easy to find. Please show me 10 or so (that should be plenty) for under $10K. Should be pretty easy... (hint, I just searched fleebay and craigslist and I only found one - a pity it didn't include a motor)

The pricing you casually toss out on 996's and 986's seems highly optimistic to me.

 

Very true Ray, I have been looking for the right car for nearly a year now, all the really good deals were cars that were priced that way for a reason.

I found it difficult to get even 2K off on a really clean car from a private party with an avg asking price and 5K was the best from a dealer which was a pristine 00 C4 aero which they were asking 43K for. I ended up spending more than I planned but found it neccessary to get a car that was optioned right, mechanically perfect and atleast a 9/10 on cosmetics.

I think the really good examples are not too far off last years prices, It's worth what someone is willing to pay and the other is willing to let it go for.

Perfect recent examples are Chadds and Exlondoner's cars, wanted both but they held strong on price because they know their cars are fine examples and not many around in that shape. I also think the MK1 and MK2 factory Aero coupes will buck the trend because there are very few factory cars compared to regular 996's.

Just my 2 cents!

David

 

Never said anything about great boxsters for under $10K. I did mention that there would be about $3K in work required on a $12-14K car. And there are a fair number of 97-99 boxsters that are sub $15K. As a matter of fact, I don't think anyone in their right mind should pay more than $16K for a flawless early 986. Whatever you see out there, they aren't selling unless they're asking reasonable prices (read: below $13K with average miles).

People are sitting on these cars and for that reason, it would appear to be a buyers market. Great cars are being sat on because they're waiting for the 'right buyer' and mediocre to sub-par cars are being sat on because the owners have an inflated view of the value of their cars.

Do I agree that a pristine Porsche should command a premium? Absolutely. A 5-8K mi. / year car, with one owner and full service history from a dealer or similar should command a premium. Add to this nice factory options like x50, LSD or factory aero only add to this. This is a P-Car owner's dream. All this said, let's put into perspective the 996. This is not going to be a collector vehicle. I'd say it'll be more akin to the 74-77 cars. Like it or not, the 986 is similar on so many levels to the 944. Phenomenal driver's cars but not going to keep their value.

On the other hand, a 996 with several owners, aftermarket 'upgrades' and 15K + miles per year fit in the mediocre category. Show me one other classic Porsche that increases in value with non-factory upgrades? (rims aside, due purely to their cost)

Bottom line, the pristine car will be in the $40-50K region, the mediocre car to all but the highly specific buyer, $25-35K region. As a buyer, you need to ask yourself what VALUE you are getting for your $15-25K.

Will it be faster? No
Will it look better? Possibly but only if you look with your nose on the paint
Will it drive better? I've got money that says for less than $3K mine will ride aswell if not better.
Will maintenance be less? Marginally. Good maintenance will go a LONG way no matter the initial condition.
Will it hold it's value? See above comments. Will never hold it's value like a 70-73 911, 84-89 911 or 95-98 993. I see the 997 going the same way as some of the above listed cars. Only time will tell but the design is right.

Before you all get your shorts in a knot, remember, regardless how much you or I BELIEVE our cars are worth. Only the market will tell. Right car, right buyer and you can get WELL over 'market' (whatever that means). Look at ebay and some of the garbage that sells for a mint because people get all emotional about a hunk of metal and plastic.

So, anyone selling a mediocre 996?

 

No offence atr911...you are making it alot more complicated for yourself than it should be. At the end of the day its just an automobile; if it is stressing you out that much with details, maybe the P car is not for you.