bull30

I just sold my Cayman and bought a 1993 America Roadster... They only made 250 Roadsters and only 86 in 1993... This one has 18,000 miles and drives like it's new... This car will continue to appreciate in value while the Cayman drops like a rock....

bull30

Thanks... Actually I loved driving my Cayman S... I started doing some thinking after the purchase that I really wanted an investment quality car that is GUARANTEED to appreciate in value like my 993 Carrera C4S... I was extremely disappointed in the residual value on the Cayman S but was willing to take the hit to get a Porsche that was on the steep upward trend... I have no regrets and definately made a wise financial decision making up for a VERY poor decision on the Cayman S...

This is not to insult anyone's decision to buy a Cayman... It was a poor decision for me based on what I truly wanted...

jnx

While the 993 is a very nice car, and I just sold my 98 C2S, I don't think it's GUARANTEED to appreciate in value.

fast1

This car will continue to appreciate in value while the Cayman drops like a rock

Unless you have a very limited production car, cars take a significant depreciation hit the first year. Most of us however buy cars for the pleasure we get from driving them rather than as investment devices. I have a stock portfolio for my investments. If you've watched Barrett Jackson the past few days, it's obvious that it's tough to predict what peolpe will value decades later.

bull30

Do yourself a favor and take your Cayman to some dealers and see what they will give you... It's extremely disappointing... Any appreciation I get out of the America Roadster is a gain... That will never happen with a Cayman...

fast1

I went to KBB and here's what I got for a CS without any options and 8K miles.
Since this hypothetical car probably retailed for no more than $58K after a modest discount, the following prices seem to be in line to me. Keep in mind that we are comparing a retail price to a wholesale price. When you compare wholesale to wholesale, there's not that much depreciation.

Condition Value
Excellent
$51,175

Good
$48,560

Fair
$43,930

STLPCA

LOL. So semantics aren't the issue, I consider a "decent investment" as an asset that appreciates over time at an avg of at least 8% per year compounded. As fast1 said, very few cars can be considered a "decent investment" & IMO yours, while very nice, is not likely to be one, unless maybe (& still highly unlikely) you don't drive it.

My 993 cost $63k new ($81k adjusted to 2006 dollars). I sold it last summer for less than 1/2 the adjusted cost, not counting the $15k or so I put into it. Great value retention for a car? Yes. Lots of fun making it worth the cost to me? Yes. A good financial investment? Of course not. The same is true of any 964/993 bought new. Can a used (name your car) be bought & sold for a short term profit. Of course. Dealers do that everyday.

My true investments allow me to buy my car, keep it as long as I wish, enjoy it, drive it as much as I wish & not be too concerned about resale value. I fully expect my Cayman to take the early years depreciation hit, as do all cars.

Obviously, you made a poor (& surprisingly naive) financial decision if you bought a new Porsche thinking it would retain value and be an "investment." I wish you luck & enjoyment w/your 964 & hope it appreciates nicely. Report back in 5 years if it's gone up in value by 47%.

BTW, what was the point of your post here on the Cayman forum? Did you think other Cayman owners or potential owners might have thought the Cayman to be an investment opportunity? I doubt anyone here did. Or are you looking for validation of your "financial" decision making? The 964 board might be a better venue for the latter, if you can find some Koolaid drinkers.

fast1

My true investments allow me to buy my car, keep it as long as I wish, enjoy it, drive it as much as I wish & not be too concerned about resale value.

Dan, very well put. Let's say that I bought two cars. I hated car A, kept if for five years, and hardly drove it, but I sold it for 10% more than I paid for it in inflation adjusted dollars. Car B on the other hand depreciated by 40% after five years, but I drove it every day and it brought a smile to my face every day that I was behind the wheel. Given the choice, I'd go with car B every time because it fulfilled the objective that I have when buying a car.

bull30

You can do ALL the investment math you want... Personally, I would prefer to buy a car that's more than likely going to increase in value... The chances of me having another vehicle appreciate like my Shelby GT350 is highly unlikely...

Don't try to school me on the differences between earning money and making money...

You are trying to defend a position which cannot be defended... I made a HUGE mistake buying the CS... I'll also NEVER buy a new Porsche again... I'll let the so called investment experts with all the knowledge waste the money they make (notice I didn't say earn)!!! Your Caymans will be worth squat in 5 years... Let's compare notes then and see who's car was the better investment.... This is the Cayman Club mentality... You would think you bought a Ferrari or Bugatti... You bought a mass-produced robotilly made car that, yes I'll say it again, is dropping like a rock in value... Let's get real here, you own a Boxster with a hardtop, nothing more and nothing less... AND, I too will admit that I got sucked in by Porsche's outstanding marketing...

fast1

I'll also NEVER buy a new Porsche again

So your intent is to buy a used Porsche and let it languish in your garage, and then hope that in five years that you sell the car at a profit. I don't buy cars as investments, but I'm not criticizing you for doing so. In my case I buy cars for the pleasure of driving them.

450knotOffice

Most of us buy our cars because we enjoy driving them. That's it. A Cayman is a fun car to drive.

Underhanded insults to those of us who own mass produced Porsches aside, congratulations. Your Speedster is beautiful.

bull30

Sorry if it was taken as an underhanded insult... It was certainly not meant to be... I actually felt a little on the defensive because I see classic cars as an investment... Others were trying to show me how a car is not a good investment... As far as I'm concerned, if I sell it for more than I paid for it and got to enjoy driving it on the meantime, that's an investment in many ways...

You said Speedster, actually it's much more rare as it's a Roadster... Only 250 Roadsters were built... They built 2100 Speedster for ROW and 800 for the USA...

Here's a link if you would like to learn more about this extremely rare Porsche: http://www.classicdreamcars.com/92porscheAM%20ROAD.html

amerlemans

I'll never buy a NEW CAR OF ANY KIND AGAIN AT OR NEAR MSRP. I will consider buying a new car again if I can get it at invoice or slightly above like alot of CaymanS are being sold for now.

I have my CaymanS for sale now (stickered for $63.5K 11 months ago). I might get $50K for it now. I got sucked into the "gotta have it now" thing. Good thing is I like the car and don't HAVE to get rid of it but if I can get the $50K or so for it, I will sell it and get the 996tt.

I don't buy cars with the intent to "not lose value" but if some people like Bull do, I don't begrudge them either. Personal prefences, that's all. I'm just tired of taking the hit. It happened to the '05 Vette I bought as well; although it retained its value better than my Cayman thus far...... go figure.

450knotOffice

Oops. Sorry. Yes, it is a Roadster. Very nice.

fast1

Personally, I hope they ARE "dropping like a rock in value." If that's the case, I should be able to get one all that much sooner!

I have no idea what the selling prices of used CSs are but the asking prices are quite high in my area: mostly mid to upper $50s for low mileage '06s.