Did I get a good deal ?
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Is 36k miles really that high? (Not trying to be challenging, just asking). I know that it is relatively high in so far as most top dollar p-cars for sale are not that high mileage as they are not the daily driver in many cases. But the car should be good for much more than that before it becomes a money pit project car.
You might even think that at 36k miles, whatever is going to break has already broken. He's got about 45+ days to find any remaining issues. I mean, these cars have got to last more than 36k miles.
When you get a car with 36k miles, you are of course much closer to having to replace normal wear parts like the brakes, suspension, etc. But that doesn't come as a surprise to the buyer.
I'd say just make sure you take some really long long trips in the car. There's all kinds of stuff you don't notice until you've been in the car for a while.
You might even think that at 36k miles, whatever is going to break has already broken. He's got about 45+ days to find any remaining issues. I mean, these cars have got to last more than 36k miles.
When you get a car with 36k miles, you are of course much closer to having to replace normal wear parts like the brakes, suspension, etc. But that doesn't come as a surprise to the buyer.
I'd say just make sure you take some really long long trips in the car. There's all kinds of stuff you don't notice until you've been in the car for a while.
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CMOS -
10K miles is the first BIG hit in terms of resale and its purely a psychological depreciation boundary . Notice how many CPO cars have less than 10K miles . There's a reason for that and it factors into a more attractive trade in or private sale.
50K miles (or 4 years) ends the warranty and to buy an extended warranty cost money. To replace parts cost money and labor hours . Wear and tear parts go too .
Selling a Porsche with more than 50K miles becomes increasingly difficult proprtionate to the cars high end rating .
Is the car just "broken in" . It might be and I sure hope it is BUT if it isn't his overall cost plus exit strategy could leave him wondering why he simply didn't buy the low mile car in the mid 50's on day ONE.
10K miles is the first BIG hit in terms of resale and its purely a psychological depreciation boundary . Notice how many CPO cars have less than 10K miles . There's a reason for that and it factors into a more attractive trade in or private sale.
50K miles (or 4 years) ends the warranty and to buy an extended warranty cost money. To replace parts cost money and labor hours . Wear and tear parts go too .
Selling a Porsche with more than 50K miles becomes increasingly difficult proprtionate to the cars high end rating .
Is the car just "broken in" . It might be and I sure hope it is BUT if it isn't his overall cost plus exit strategy could leave him wondering why he simply didn't buy the low mile car in the mid 50's on day ONE.
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bingo
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CMOS -
10K miles is the first BIG hit in terms of resale and its purely a psychological depreciation boundary . Notice how many CPO cars have less than 10K miles . There's a reason for that and it factors into a more attractive trade in or private sale.
50K miles (or 4 years) ends the warranty and to buy an extended warranty cost money. To replace parts cost money and labor hours . Wear and tear parts go too .
Selling a Porsche with more than 50K miles becomes increasingly difficult proprtionate to the cars high end rating .
Is the car just "broken in" . It might be and I sure hope it is BUT if it isn't his overall cost plus exit strategy could leave him wondering why he simply didn't buy the low mile car in the mid 50's on day ONE.
10K miles is the first BIG hit in terms of resale and its purely a psychological depreciation boundary . Notice how many CPO cars have less than 10K miles . There's a reason for that and it factors into a more attractive trade in or private sale.
50K miles (or 4 years) ends the warranty and to buy an extended warranty cost money. To replace parts cost money and labor hours . Wear and tear parts go too .
Selling a Porsche with more than 50K miles becomes increasingly difficult proprtionate to the cars high end rating .
Is the car just "broken in" . It might be and I sure hope it is BUT if it isn't his overall cost plus exit strategy could leave him wondering why he simply didn't buy the low mile car in the mid 50's on day ONE.
A bit more dialogue....... It wasn't worth it for me to spend $10k more for a car with 1/2 the miles. Knowing the history of this car and the previous owner, records from the dealer and a spotless PPI gives me little to no concerns.
Nor is an exit strategy an issue for me. Although I know it is for the majority of guys who get in and out of high line sports cars.
I buy Porsche cars and keep em. Drive em and mod em. Case in point. Paid $49k for my 993 4S in 2003 with 42k miles. Over the course of 6 years I put 90,000 miles on the car and just sold it for $21,000 with 130k on it. Did I do well on the sale ? Did the new buyer ? I think so.
Either way, I don't think and certainly hope the savings realized on buying this 997 will need to be dumped back in with repairs or deferred maintenance. Certainly could have waited another 6 months for a cheaper price but this car had nearly every option I wanted.
We've got a 500 mile road trip back to VA from CT on Saturday. I'll post pics of the journey along the way and more info on the car next week.
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You can always buy a warranty after Porsche checks it out. It is just an insurance policy and priced according to their risk.
The miles are a positive. The worst thing for any machinery is inactivity. Problems with the RMS and other issues come up early in the car's history. Not driving the car is one way not to ferret out the problems during the warranty.
I say drive the hell out of them as they were designed to do. Look at all the people preserving them in their garage with no miles still taking huge financial hits on depreciation and having no fun... I don't get it, why buy it if you are not going to use it, might as well buy faberge eggs and polish them every day.
Life is full of risks, losing some money on a Porsche buy is minimal in the scheme of things but we all like to get a good deal, sounds like you did fine.
Richard
The miles are a positive. The worst thing for any machinery is inactivity. Problems with the RMS and other issues come up early in the car's history. Not driving the car is one way not to ferret out the problems during the warranty.
I say drive the hell out of them as they were designed to do. Look at all the people preserving them in their garage with no miles still taking huge financial hits on depreciation and having no fun... I don't get it, why buy it if you are not going to use it, might as well buy faberge eggs and polish them every day.
Life is full of risks, losing some money on a Porsche buy is minimal in the scheme of things but we all like to get a good deal, sounds like you did fine.
Richard
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Richard,
Hadn't thought about purchasing an extended warranty thru Porsche.
Will have to investigate coverage to cost options. Thanks for identifying this !!
Couldn't agree more with the rest of your post. Spot on.
Hadn't thought about purchasing an extended warranty thru Porsche.
Will have to investigate coverage to cost options. Thanks for identifying this !!
Couldn't agree more with the rest of your post. Spot on.
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997’s a big step forward in terms of reliability from that of early 996’s. On them I would say if it made it to 20K without major issues it should be ok till 80. With a 997 I don’t think we will hear of many issues even past 100K so everybody quit the whining and start driving it. It’s not a rare collectors car, just a sports car that is meant to be driven! Plan for regular service intervals and consumables. Plan to do a clutch sometime within there, and an rms as the only hopeful major issues.
Good deal and enjoy!
Good deal and enjoy!
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Thank you for everyone's thoughts and opinions.
A bit more dialogue....... It wasn't worth it for me to spend $10k more for a car with 1/2 the miles. Knowing the history of this car and the previous owner, records from the dealer and a spotless PPI gives me little to no concerns.
An extended warranty costs thousands . A new clutch alone is 9 hours of labor . Brakes are labor too. The largest part of these discussion which I have had before is that most of the buyers who set out to purchase a high mi car are trying to save money. Your thread title asks a question which has some implied doubts.
Nor is an exit strategy an issue for me. Although I know it is for the majority of guys who get in and out of high line sports cars.
An exit stratey ought to be a part of every persons car purchase. You haven't picked up the car and you are not commited . Once you hand the check you are . I want you to enjoy the car . It probably is beautiful but it can not save you money in the long term. Once you begin out of pocket expenses the price of ownership will climb and by them with over 50K miles you become wedged into the car . A multille owner high mile high end car with problems is a money pit . The ONLY way you win is if the reliability of the car tilts in yoir favor and it may do that, But theres risk .
I buy Porsche cars and keep em. Drive em and mod em. Case in point. Paid $49k for my 993 4S in 2003 with 42k miles. Over the course of 6 years I put 90,000 miles on the car and just sold it for $21,000 with 130k on it. Did I do well on the sale ? Did the new buyer ? I think so.
For each example there are counter examples . I can even point towards a nightmares with a NEW car . The difference is that with warranty , low miles, and less wear if a major problem arises there is a muich easier exit .
Here's two exaples .
1) This guy got a NEW CAR after he faced issues with his 180 mile car
https://www.6speedonline.com/forums/997-turbo-gt2/140084-replacement-lemon.html
2) This guy hedged his loss with a dealership. https://www.6speedonline.com/forums/997-turbo-gt2/117568-997tt-oil-leak-saga.html
Either way, I don't think and certainly hope the savings realized on buying this 997 will need to be dumped back in with repairs or deferred maintenance. Certainly could have waited another 6 months for a cheaper price but this car had nearly every option I wanted.
We've got a 500 mile road trip back to VA from CT on Saturday. I'll post pics of the journey along the way and more info on the car next week.
A bit more dialogue....... It wasn't worth it for me to spend $10k more for a car with 1/2 the miles. Knowing the history of this car and the previous owner, records from the dealer and a spotless PPI gives me little to no concerns.
An extended warranty costs thousands . A new clutch alone is 9 hours of labor . Brakes are labor too. The largest part of these discussion which I have had before is that most of the buyers who set out to purchase a high mi car are trying to save money. Your thread title asks a question which has some implied doubts.
Nor is an exit strategy an issue for me. Although I know it is for the majority of guys who get in and out of high line sports cars.
An exit stratey ought to be a part of every persons car purchase. You haven't picked up the car and you are not commited . Once you hand the check you are . I want you to enjoy the car . It probably is beautiful but it can not save you money in the long term. Once you begin out of pocket expenses the price of ownership will climb and by them with over 50K miles you become wedged into the car . A multille owner high mile high end car with problems is a money pit . The ONLY way you win is if the reliability of the car tilts in yoir favor and it may do that, But theres risk .
I buy Porsche cars and keep em. Drive em and mod em. Case in point. Paid $49k for my 993 4S in 2003 with 42k miles. Over the course of 6 years I put 90,000 miles on the car and just sold it for $21,000 with 130k on it. Did I do well on the sale ? Did the new buyer ? I think so.
For each example there are counter examples . I can even point towards a nightmares with a NEW car . The difference is that with warranty , low miles, and less wear if a major problem arises there is a muich easier exit .
Here's two exaples .
1) This guy got a NEW CAR after he faced issues with his 180 mile car
https://www.6speedonline.com/forums/997-turbo-gt2/140084-replacement-lemon.html
2) This guy hedged his loss with a dealership. https://www.6speedonline.com/forums/997-turbo-gt2/117568-997tt-oil-leak-saga.html
Either way, I don't think and certainly hope the savings realized on buying this 997 will need to be dumped back in with repairs or deferred maintenance. Certainly could have waited another 6 months for a cheaper price but this car had nearly every option I wanted.
We've got a 500 mile road trip back to VA from CT on Saturday. I'll post pics of the journey along the way and more info on the car next week.
Last edited by yrralis1; Feb 12, 2009 at 12:59 PM.
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Sounds good to me too, but I wouldn't buy it without CPO from the original dealer. Let them do the work, certify it and then you have +2 years to not worry if you are going to need something expensive, like an engine or transmission. It's only $2k for the CPO and well worth it. What did the DME readout show for range 1-6 revs?
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are you kidding?
I am amazed at some of the mileage related comments on this thread. 36k miles on a three year old car is high? I bought a 964 C4 with 85,000m, drove it for two years and sold it with 137,000m. I took a $8k hit. Big Deal.
I now drive a 2009 C2S and have 4500m on it since November. It's a car people, designed to be driven. I know these cars are just a fetish for some but realiy, 50k is not high mileage for a Porsche. In Germany they are purchased as daily drivers and rack up the k's pretty rapidly. Most European P-car enthusiasts would be very amused to read this thread!
Oh, and BTW, in two years with the 964 the only expenditure apart from consumables and services were a new clutch and lots of power window switches...
I now drive a 2009 C2S and have 4500m on it since November. It's a car people, designed to be driven. I know these cars are just a fetish for some but realiy, 50k is not high mileage for a Porsche. In Germany they are purchased as daily drivers and rack up the k's pretty rapidly. Most European P-car enthusiasts would be very amused to read this thread!
Oh, and BTW, in two years with the 964 the only expenditure apart from consumables and services were a new clutch and lots of power window switches...
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I think you did great. Go and enjoy! On the warranty, keep in mind that an extended warranty costs less if you purchase it while the car's still under factory warranty than if you let the factory warranty expire and then purchase. If it gives you peace of mind (and it might for me as these cars do have some expensive components), budget for one. If you choose not to, keep in mind that these cars have a long history of detailed and well-tested engineering; it ought to run and run well into the future with timely, regular maintenance. My indie mechanic agrees with 19000RPM; these cars tend to have fewer shop visits and costs with regular, spirited driving. He has consistently said that "hangar queens" are more risky. Good luck and hope you really enjoy it!