I wouid peice it 4 or 5 K less than the 67K . Priced at 62 it coild sell at 58.5 and I would call that a good deal fir both (buyer and seller) .

A few months ago it woiuld have sold at 55K.

 

I guess you see pent up demand that I am not seeing. I see lower inventory (supply) but also lower demand (buyers) in the used market. If what you say is true and there are buyers sidelined then I'd agree with you.

 

How cna you measure demand?

Supply can be tracked...but demand?

 

There has never been a robust market for $ 60,000 + used cars. Not for Porsche's or MB's or BMW's and any of the high priced imports. All have saturated the market with cars over the last few years and sellers are paying the price for it now. Bad news is that the great bargain you just bought will be worth even less when you go to sell it now that 's it's had one more owner and few more miles on it. Save your money and lease a new one and forget about it what it's worth next week or next year. When the lease runs out get a " new and improved " model with more HP, torque, better handling... more whatever you can think of.

 

The 60-75K market was very strong when the 09 997S came out. Most who wanted the new 09 faced quotes of 4 to 8 percent off . On a 100K car that was still 92k at best .

A used 08 in the 60's looked very good back then . Not anymore.

 

Demand can be tracked by DOM (days on market) and # of Sales transactions relative to inventory over time. So if cars are sitting on the market longer and there are less sales compared to a similar period of time adjusted for overall inventory then demand is less.

 

Is that available for used cars? Sitting on all the car lots of the US?

 

Obviously not which is why I asked if Larry was seeing different results in his market that I am not seeing. I watch the Norcal market mostly and it is slow here. Porsche also posts their CPO sales which are declining as well. See the last line in the attached report for August and draw your own conclusions.

 

Do you remember June ? (CPO sales at top of thumbnail) https://www.6speedonline.com/forums/...-not-good.html

June new car sales plunged but CPO sales were up .
Now new cars sales surge .. and CPO back off .

Your data supports my argument . Buyers are not buying the used cars . Especially in the 60K to 75K range . They are either buying the new ones or passing them up . The 45K to 60K range simply doesn't have the cars with the prime options , low miles, and ideal pricing.. so many have simply chosen to wait .. rather than pay too much or setlle on a car which isn't what thry had set out to buy.

 

Larry, your original argument was it was a good time to sell a used car and my stance was that it is not and the data supports the latter. The buyers are bargain hunting which is why they are jumping on the new car incentives and avoiding the used car market.

If "Buyers are not buying the used cars" why would you think it's a good time to sell?

 

Good question . Buyers DO want to buy the cars . They just can't find any in the 45- 60K range with the desired options . So if one has a car with those options it would sell (full leather, low miles, bose, chrono , CPO) quickly and at a slightly higher price .

I have looked with several forum members at dealership and private sales inventory in their regions .. and trying to find an 06 or 07 with those options under 60K is like trying to find a needle in a haystack .

One can find cars .. the good ones are over priced and that's why they have sat on auto trader for MONTHS. Might as well buy a new car .

As you can see .. new car sales are flourishing .. and that's why. The discounts of July and August have grabbed all the sales from the higher end of used .

 

I agree with most of your statements. My point is this, why compete with the new cars and put your car up for sale now when you can wait until all the excess new inventory is worked off and we get back to a more normal market balance. Putting up a car for sale under these current conditions seems like it would send the message you are desperate to sell it. Perhaps those that are asking too much can afford to ride it out. If the demand is really there they may get it.

 

I think there is good demand for used porsches but like larry says new car prices have shifted people's final decisions.

I am not surprised porsche CPO sales are down. Most of the dealers I track have very low inventory right now for CPO'ed cars.

I also think low prices have shifted more used of the sales to private transactions.

 

Why would you sell a 1 or 2 year car you paid well over $ 100,000 for at fire a sale half off price so you could go buy another $ 100,000 car of the same make at 6-10% off and start the process all over again ? I don't get it. If your point is that if you lower the price enough there will always be someone there to buy it from you I'm not sure that's all that astute an observation. One thing you can count on though is that Porsche, or maybe I should say VW, will make sure that any over supply problem is corrected one way of the other if they expect to continue to command top dollar for cars that don't hold there value any better than a Ford Taurus.