I need some help figuring out the fair value of a CPO 07 GT3. Car has less than 1k miles. Major options include: full leather, adaptive sport seats, Bi-Xenons, chrono package plus, sound package plus, tele module, and NAV. Asking price is 102k. I was hoping to find one in the 85-90k price range. This car has some options like NAV and tele module that I don't really care about. Only thing it is missing is heated seats. Obviously, issue with this car is its extremely low mileage, hence the price. I know car came off lease (probably owner had 75k plus in car!!) and was purchased from same dealer offering it for sale. It was offered 6 mo ago for 110k on consignment. (BTW do I have to worry about issues re: proper engine break-in. I doubt engine is broken in although I don't know specifics. Could this have harmed the engine?) Other issue is I will have to store car for 6 months over winter and of course it will just depreciate. I know this sounds stupid -why buy now? I live in a rural area and getting to check out one of these puppies is not easy. I was considering other options and have probably settled on GT3. Part of me wants to move on, however, financially this is probably stupid as many more cars in my price range will be available in 6 months, albeit with more miles.

FYI I did a rough analysis of 07 GT3's with under 10k for sale on typical sites. Here is what I found for asking prices :

110-125k #2---- 6%------- (0 CPO)
100-110k #8---- 25%------ (4 CPO)
90-100k #16-----50%------ (2 CPO)
80-90k #6 -------19%------ (1 CPO)

total cars FS #32

Obviously, 110-125k in my opinion is nuts given that I would spec a new GT3 at about 120-125k, assuming of course, that one can be obtained.

The question is what is an 07 with really low miles worth given cost of new car? Also, How much depreciation would you figure over the next 6 months? I am guessing around 5k?? Any worries re: proper engine break-in??

Appreciate any advice. Sorry for wordy post.

 

if you add 5-10K in mileage you will save quite a bit of money compared to what the dealer is asking... I do not see any reason why you could not find what you are looking for "one in the 80-95K price range"

if you are considering $102K asking, you should consider a nice used RS instead... it will not depreciate as fast, it does not have the abhorrent sunroof, etc...

this one has been sitting for a while... (no affiliation)
http://inventory.switchcars.com/card...AC29937S792507
and it just had a $4K detail
If I was in the market and this passed inspection... no brainer...

I would not pay more than $85-90K for a 997.1 gt3 right now...regardless of the mileage... as they turn into last years prom date they will begin a steep slope of depreciation IMHO... in 6-12 months they will be in the $70s I think...

I mean no offense to the 997 gt3 owners out there... I have a 996 gt3 which is 5 years ago prom date so to speak...

 

I have found it best to generally disregard extremely low mileage. This is a three year old car, and assuming it has accumulated no more than normal mileage, it takes about the same depreciation hit as a comparable car within the general "low mileage" category, although the miles may differ substantially. Given current market conditions, I suggest you pass on this one. There are many more attractive options. Don't know how long the dealer has had it, but they will probably push a high premium until they find the winning shopper; not a prize I would seek. But, Porsche dealers prove every day, money and intelligence are not always companions.

 

$85k-$93k for an '07 depending on miles, options and condition, of course. (Consider that CPO has a $2k value) Personally, I think prices will begin to stabilize for a bit as there is strong evidence that 2010 GT3's will not be made anymore and 2011's (if they make them) won't be here until Sept 2010. Much of the current crop of dealer cars sitting on lots are way overly optioned -hence overpriced and lack DE mounts, so discounts for the most part will not affect 2010's a great deal; yes some but not dramatically.

Proof of my price stabilization speculation is that I almost bought one of three different 07's w/< 3k, highly optioned for the upper $80's last Feb. Prices have actually slightly risen or remained the same from there on cars that are now a year older.

Also, some dealers are willing to wait until the spring market when these cars will bring more money than during the winter. Another 3 months of floor plan, may be money well spent for the dealers as the spring prices will offset this. It is at least fair to say that the spring market will likely yield similar prices to now, not less.

 

I see your budget was 85-90k but seems to be flexible as it is in the 100k range now. My understanding is many dealers have brand new 997.2 GT3 in stock and is willing to negotiate. I am sure you can find one with lesser options + a dealer willing to discount some, and you have yourself a brand new car not having to worry about any of the stuff you mentioned.... Proper broken into, over-revved history or history in general as in whether this was a garage queen or a track *****? Since it is a CPO, I would imagine this wasn't wrecked but you seem to be concerned about it's low mileage and price, is the price too low for it's miles compare to the market? I don't know as I am not shopping for one but when it comes to used car, all I can say is if it's too good to be true, be extra cautious!

As far as comments like above staying away from low mileage vehicles, I find it comes up very often on forums but no offense, I think it is ridiculous. Especially on a car like GT3, what is "normal" mileage? Some people drive theirs daily. Some people drive theirs only to and from and of course at the track. Some people drive theirs on weekends only. So just these 3 examples can have mileage ranges from few hundred miles to 10-15k a year? And I am sure there are other examples.

 

I hope you are wrong about these being valued in the 70's within a year- that seems like a huge depreciation in a rather short time-frame. I have been keeping an eye on pricing for some time. Many more cars now in the sub 100k category now vs one year plus ago. I think with the economy tanking in the early part of the year there were some deals to be had, however, I was not sure on car at that time. Timing can be everything. Prices then bumped up a bit and seem to have softened with up-dated version and of course time.

I do not think that 102k for this car is realistic, especially this time of year. I am guessing that 90k is reasonble on 07's regardless of mileage given cost of new GT3. Given asking price I guess they are looking for 95k. Thoughts?? Obviously, there are better deals out there from individuals and independent shops vs dealers.

Certainly, I feel more comfortable with a CPO car, especially as I plan on being a long term owner. I will put more mileage on car and hope that any major problems would be unearthed and also covered under warranty. I have to assume car is clean if they CPO'd it. My question re: engine is I doubt that it is broken in and/or was itbroken in per Porsche's recs. Could this be harmful to engine to not be broken in properly over a shorter time frame?? Or should I just worry about checking for over revs? Not sure if I can get a info re: wether it was over revved given recommended breakin parameters from Porsche.

Agreed on the sunroof issue. Why this car comes standard with a sunroof is beyond me. I have an e46 M3 with sunroof deleted. I like the headroom and the added rigidity. Was it possible to delete sunroofon 997.1 GT3's? Is it true that 997.2 GT3's do not have sunroof?

 

Thanks for all the input so far. I will be new to Porsche and appreciate info from those more experienced.

 

I can tell you based on experience......mine is two weeks old, $127K MSRP

You can get a less than 3,000 mile CPO GT3 for inbetween $85K and $88K from a porsche dealer

 

You're not going to see $70's in a year or less. My above post points out several reasons. Again, "IF" PAG even makes a 2011 GT3, it'll likely be a very very short run. You won't see the 991 GT3 until 2013 (as they typically skip a year and run it a year after the Carreras) so cars will be few. I am not saying that these cars won't depreciate, they will, just not that much that soon.

I would not gauge the prices so much on the amount of cars listed over $100k a year vs. now. Many were/are just speculating and/or high on some good dope. If they are not selling it is rather meaningless. The sales I've seen have been below $100k for almost a year.

The DME scan will not tell you about how the car was broken in. Although, I break my in according to the factory, others have had great success driving it like they stole it from day one. So, a CPO'ed car may help you sleep at night. I would probably skip it. Either way have another DME scan done on whichever you consider buying.

FYI, I believe that CPO cars can not have more than one panel re-painted.

997.1's did not have a sunroof delete; 997.2's do not have a sunroof option.

Just because someone has gotten a $127k car w < 3k miles from a dealer does not mean that they are plentiful. I do congratulate Izzone on a spectacular car and specs, but his may or may not be indicative of the market. His car is unique in that PCCB's came with it adding value for some, however, scaring some away. Basically, options do not return much at all on these cars. I'm just saying that a cast iron brake car in similar condition may yield $90K or more; I would not consider that over-priced. And, I do think that time will tell that Izzone got a great deal.

 

Talk to any Auto Broker GT3 prices have increased at the auction for above average cars. Either way I think you should be able to get what you want for 90K for a 997.1 GT3 with 5K to 8K miles on it. I would really get what you want on this car. The options cost money but in the end the depreciation won't bother you as much as not having a car with the options you wanted.

 

I picked up my CPO '07 GT3 (with ~10k miles) earlier this year for $82.5k. For a very low mileage car the price might be a few grand higher but certainly under $90k. It's a buyer's market out there!

 

Prices are all over the place - There are a lot of them in the 85-95k range with miles over 6-10k

I would be interested in this particular car just because of the mileage.

 

Thanks for all the input.

The prices I listed are asking prices. Any idea how much less sale price would be on average?

 

Mine listed for $95,500 for what it is worth.

I do agree that if you buy a car with CPO it does not mean there has not been paint work ( ask me how I know.....my last car is an example)

I did an extensive PPI on my GT3 and personnaly took a paint meter to it. Do not buy a car without putting a meter to it yourself.....any reputable dealer will have one you can use.

It took me six months to find the right car and many of the cars I found (CPO included) had some sort of paint work.

 

CPO allows for at least one panel and -I believe- limited to one, to be re-painted; as stated above.