Recently, the new boxster 981 really caught my eye. I really never liked the boxster before, because I just felt it looked .. off in some way. However the new one looks absolutely beautiful.

I care greatly about financial sense and therefore really don't want to take huge depreciation hits. For the past couple years, I have always thought that my next car would be a 2 to 3 year old luxury car (say BMW 7, or Mercedes CLS, Audi A7, or something similar but definitely of the current generation). It's common knowledge that such luxury cars suffer great depreciation in their first 2 to 3 years of life. Also such cars suffer great price drops when generation changes (eg. 2008 750s are significantly cheaper than than 2009 750s).

For Porsche... it appears this common knowledge does not hold. I searched autotrader for 2009 pdk 987.2 boxsters, knowing that they are
1. old generation, and considerably worse looking, and have considerably worse interior
2. 4 years old
3. starting MSRP was 4 to 5k less than the 981

I found that they are still going for 38-43k for non S, and 45-51k for S. Knowing that even new, those none S versions were only about 51-56k (none of them had Nav, so probably 56k tops).

This is amazing... meaning even in the most conservative case, the non S versions have depreciated less than 20k in 4 years and more importantly, even the generation change didn't cause greater depreciation...

examples include
http://www.autotrader.com/cars-for-s...25100670&Log=0

http://www.autotrader.com/cars-for-s...28135996&Log=0

http://www.autotrader.com/cars-for-s...27145209&Log=0

The one in the first link states the original MSRP so I am using that as a standard candle... The other 2 have basically the same equipments...

Obviously these are all dealer sales, and personal sales will be lower priced... But even at the very conservative price of 37k... assuming same options, original MSRP of less than 57k, this is a <20k depreciation in 4 years for an older generation...!!

If such trend holds for the new generation, and if depreciation is less for a current generation car. Then wouldn't it be a conservative (conservative in the sense of how much you can sell for) estimate to say that by 2016, current 981s that are fairly well optioned (59-65k) would still be going for at least 40-45k for even personal sales?

Please let me know what your thoughts are.

I am trying to determine if it makes financial sense to buy a new 981.

Thank you

 

I completely agree with your logic (but hey, who uses logic when buying something with their heart)

I basically did the same thing, just not to that extent. The price of a used Porsche had a much higher resale value than I expected.

I had looked at even 2012 new and used Boxsters just to see how much of a hit they took when the new 2013 style came out... not much at all.

To pay the little bit extra and get the new model, I think it'll be worth it. I think in the next 2-3 years, the depreciation is going to be minimal (comparatively speaking) compared to other brand cars.

Having said all that, there is no amount of money I could have paid for the enjoyment that my 981 brings me. Worth every penny!


Good luck with your decision,


Mark

 

In Europe, we used to say that a Porsche is only expensive the first time you buy it. And that is true IF you keep your car for 5-10 years - which they typically do. Thereafter it is just " an upgrade".

 

I originally wanted a 981 boxster s or upcoming cayman s for the midengine handling and styling, but couldn't do it by looking at depreciation numbers so I got a 911 carrera gts. Assuming a new 981 S model is going to be 80 to 85k or so, that can get you a really nice 997.2.

 

Absolutely agree, you could buy a 997.2 for that because it's already taken it's depreciation.

But in my case, I wanted a convertible.


Mark

 

but couldn't do it by looking at depreciation numbers so I got a 911 carrera gts. Assuming a new 981 S model is going to be 80 to 85k or so, that can get you a really nice 997.2.





--------------------------------
Light Brilliance of DVDs --- True Blood Seasons 1-5 DVD，Live in the moment, live with it!

 

Don't know about you guys but buying a car like a Porsche isn't always made by financial sense.... sometimes it's made by the heart.


There isn't a depreciation amount I can apply to putting the top down and cruising around in the best car I've ever driven.


Mark

 

+1. It also saves me therapy money

 

Good insight.

While I'm sure this goes without saying, I found when I was looking for my Cayman that prices varied quite a bit for similar equipped examples when comparing dealer cars to private sellers.

Porsches seem to be one of the few makes where the old cars are coveted and revered, opposed to being yesterday's news. Classic lines, history, etc but it holds true. You don't see anyone claiming how much they love that Ferrari 355, as the new ones make it obsolete, yet people still have their obsessions with 993's. I might be rambling off your point...

I think you can find the most 'depreciation' from a well spec'd car as the factory options really drive up the cost, but don't carry over well. For example, (when) I got my '06 Cayman with lower miles, dealer CPO'd, and it came with PCCBs for about $12k less than a bare bones '07 with higher mileage. Don't really get it.

Good luck Crash Override...I mean Dade...I mean zer0cool

 

First off buying a Porsche never makes financial sense, but sometimes you can shuffle the numbers to make yours self feel better about it. The majority of the people on the forum have done it, so you will be in good company! Second, the only problem with your analysis is that almost no one buys these cars new for MSRP. Porsche charges extra for many things that should come standard, and we all know that all of the options add very little to the resale value. So while a non S 2009 Boxter may have had a MSRP of $50-56K the actual sticker price was probably $65-70K. I got my Cayman S new in 2009 and it had a sticker price over $80K, after wheeling and dealing the price came down, but there is still no way around the depreciation.