Hi, I'm looking for a Cayman and the used prices seem high. Lease resids are in the low 30's for 3 year returns. But all the used sites show 2009 base Caymans starting pretty much in the 40's and up. Do dealers expect to negotiate down? Seems like a lot of profit.

In the same way I see 2011 and 12's with low miles with prices near, or above, new. I don't get it, the msrp for a base cayman with a few options is in the mid-50's, yet used 11's and 12's are at that. Are used prices really that strong?

Guess the question is, how much under asking price did you get your Cayman for (new or used)?

Thanks.

 

Dealers are killing it off lease returns. Not a Cayman, but I know of several 2009 997.2S examples that were returned to dealers with residuals well below 60, and they are all listed for high 70's. Nice to have over 20k of room to make a profit...

 

Bought this 08 Cayman S last December from Hennessy Porsche in Roswell,Georgia. CPO car with 17,821 miles driven. Asking price was $47,500. Negotiated down to $44,000. Car was and still is in outstanding condition.

 

I saw some cars on swapalease. Maybe assuming a lease with a year left is the deal. Make a year of $700 payments then buy in low 30's (which is what was listed as residual). The actual values seem to be much higher than lease companies are giving for resid's.

Thanks for your feedback on the cpo pricing. I would like to have a year or two of warranty.

 

Not sure about "killing it" There are costs involved to getting a car ready for the front line. For example if a car is CPO'd everything needs to be to Porsche spec if the brakes have 49% left they are changed etc, after all is done then a CPO fee is charged all this adds up. The service dept makes money off the sales dept for every car that goes through and its not cheap. I've yet to see a used car that has $20K profit in it.

The other issue is since leases were so good 3 years ago people who's lease are coming up are realizing that if they lease a new car the payments jump big time. A lot of people are buying their cars. This is causing a shortage in the pre owned market hence higher prices, cars are going above market even at auctions.

 

My neighbor's 2009 C2S is at the local dealership listed for $79k. The residual was 59% of a $96k msrp. They did CPO it which allegedly cost them $2k.

I know of two other specific examples that are close to this example.

Not saying that they will sell it for a profit, but they have over $20k margin for error at this point, Also not implying that this is the norm, but my impression is that 2009 lease residual percentages vs current day used car pricing is definitely in the dealerships favor as opposed to the consumer.

 

Caymans are out of production and new ones won't be on sale until January, so it looks like this puts good used ones at a premium. It seems crazy to buy a 3 year old car for anywhere close to ordering a new one just as you want, but waiting is hard.

The CPO warranty seems to cost about $1900, they may put new tires and brakes on (or might not), change the oil, inspect.. So, the service department gets their cut then the sales department needs to make some money. $10k seems more than sufficient, guess the market is real good to be trying for more.

I hear the Boxster allotments are filled for 5 or 6 months, probably at MSRP due to demand. The new Caymans will likely do just as well, maybe a year from now the supply side will start to catch up.