that $200 is a deductable i think. i had easycare on my 996 and there was a $200 deductable (but the shop usually ate it).

 

I have often thought about this over my years of Porsche ownership. My conclusion is that cars are not an investment in any form and on top of that, they are consumables. There is a cost over time if it sits in your driveway and never moves. There is an increased cost per every mile you drive it. But, I buy them to drive them and nothing is ever free. I have never owned an appreciating classic, and would suggest that if you are looking to buy at the bottom of the curve, a 997.1 TT is not there yet. If you do buy at the bottom of the curve, such as a 996TT, there is going to be an increased maintenance cost that you need to figure into your equation, not just the buy/sell price.

Bottom line, you can pay less to "own and display" or you can pay more and enjoy the car for what it is.

 

^^^

Even with collectible cars that might appreciate, you either have to make your money at time of purchase and/or be very lucky with condition, timing and trends -- much like with real estate. Data point: In the 90's I restored a 1970 911, which cost me $50-60K and countless hours over a period of years. (If you think late parts are expensive you should check out the early parts.) In the early 2000's I sold the car for low $20's. Now of course that car would probably be worth 3X as much, certainly 2X.

Current race car is even more upside-down. I no longer add-up receipts but surely I have almost as much into it as my 997TT cost, and could sell it for 1/2 that at best.

C'est la vie. I bought these things to drive and tinker around with, not to make money.

 

 

you guys ever own a big boat? Now thats depreciation! Skullbussa- life is short , reward yourself for even being in the position to get one!

 

Time spent behind the wheel (while grinning) is inversely proportional to time spent concerning oneself about depreciation..

Just get out and drive, that's what it's all about.

 

A reasonably driven 997T will hold it's value well, especially if it is a 6-speed manual in today's day and age of auto-everything. New 991TTs selling for $200K only can improve the value of 996/997TTs.

 

SEEMS LIKE THE ONLY TIME I WORRY ABOUT THE PRICE AND DEPRECIATION IS BEFORE I PULL THE TRIGGER. ONCE ITS PULLED- ALL IS FORGOTTEN AND THE FUN STARTS. ( AND THE MOD BUGS )

 

+1

 

I'll chime in with a couple of points here.

In looking at the 911, the turbo is a bit unique. There are a fair number of high mileage cars. Yes, it does impact the value, but they are still around. This is somewhat unlike the regular 997 market, where there seem to be fewer high mileage examples. I attribute this to the turbo simply being the rich man's daily driver! Guys with exotics get turbos because they are not that flashy, offer outstanding performance and can be driven day in day out. A high mileage turbo is still a desirable car, while a high mileage 997 is an unwanted car.

Cars are all about cost of ownership. They depreciate. More in the beginning than when they are older. You need to balance the COST of ownership with the depreciation. Older cars cost more. Want a cheap used car? Buy an '07 Aston Martin Vantage. They're "cheap"! I found the optimum balance owning a car 3 years old until it was 6 years old. Still under warranty you find all the problems and have them fixed. You own it out of warranty, but you sorted the car while it was still covered. Repairs are still virtually nonexistent. Someone else took the 35% initial deprecation hit. You optimize the balance between depreciation cost and repair cost. The pisser I found was that the damn 3 year old turbo is still so expensive! I forked out the bucks anyway because I was lucky to optimize my trade and get into a new car at an optimal point.

One of the problems in looking at a low cost '07 turbo is that the car is 7 years old. Indeed the depreciation will be low, but the maintenance may become high. More mileage means more maintenance. Sure, they are great cars, but at 50k plus you could get a car with old plugs ($1000), could need a water pump ($1000), clutch, brakes, etc. These are just regular wear items. One could say that these are a lot cheaper than depreciation and that may be true. Of course, something could actually break and that would be a lot more expensive. In a 7 year old car, a low mileage example may not have been driven, driven too hard or driven just right. Tough to find a car that is just right. Super low mileage garage queens are not always the best. These are just other factors to keep in mind.

Turbos are awesome cars. No matter what, I think it's worth the price of ownership. I drive mine. As far as "collectable", forget it. I got a '10 plus because the 0-60 dropped from 4 seconds to 3 seconds flat. That is still a huge milestone 4 years later. And frankly, faster than that to 60 is splitting hairs. I even remember the time when 0-60 in 6 seconds was epic. Now is a great time to be an enthusiast.

 

You need to drive a few turbos. They are a joy, modern, reliable, beautiful and affordable (if higher mileage and well maintained). I can think of nothing with more panache and fun for $60-70k. Buy one and enjoy it.

 

I am also debating whether to get a higher mileage turbo as well..test drove one at a local dealership (non porsche dealership) and it has 59k miles asking for 62k. The condition is ok but not pristine.

As much as I think it is somewhat a reasonable deal, the fact that it is not CPO plus without service record is somewhat holding me back from pulling the trigger. I also noticed that the driver side window doesn't go all the way up at times when I shut the door and some of the interior trims have already began to deteriorate. The car does run strong during the test drive and oh boy, my 996 C2 felt like a prius afterward..

 

I am going through the same thing myself. For me, the car would be a daily driver (as were the 4 911's before it) and I do approx. 12K miles a year for work alone.
For that reason, I ended up looking for a lowER mileage car (29K miles on a 2007 in my case).

One way to mitigate some early issues (meaning: stuff breaking just after you buy), is to do an extensive PPI with a reputable mechanic (non-dealer). Most dealer PPI's involve a cursory cosmetic review and hooking the car up to a computer. I just paid $800 for a PPI which was worth every penny. They spend a day and a half going over the car front to back.
- checked extensively for accident damage
- did a paint thickness check all around
- checked for suspension mods or replacement parts
- checked all electrical systems
- checked the computer read-out
- did a leakdown compression test
- checked all hydraulics (spoiler)
- checked all wear & tear items for condition
- did an extensive test drive

While they were elbow-deep in the engine, I got the spark plugs replaced for material cost only ($100 instead of $1,000), which basically paid for the PPI.

Result: a 4-page report for me and a very clean car which will hopefully be in my garage in 2-3 weeks.