PorscheC2S

Is it just me or are car values starting to come down? I know the pending recession is causing some hesitation on buyers but I've been seeing all sorts of different (used) cars prices starting to come down. Just wondering if anyone else is seeing that as well?

Gripster

My impression is that they have definitely stopped climbing and I'm seeing some higher priced (overpriced?) cars not selling as quickly as before. It seems as if things are finally cooling off.

Not sure where things will go from here and don't ask me for data to back this up - I'm casually keeping an eye on things for general interest.

PorscheC2S

Yeah me to. I would like to buy a 996 conv. at some point but I'm not paying (what use to be a $17K car just 20 months go) $30k. Some have drop their asking price to $27k but I think I'll hold out until Q3 and see where the economy is......

ducktails

Generally speaking if something seems like an absurd bubble, it usually is. Case in point is the $30K 996 Cab.

Since there's overlap in buyers it's worth mentioning that retailers of 2nd hand Rolex are already advertising price reductions.

Levy

can't say i see prices coming down *in general* but do detect stabilization of pricing. it's been a wild ride for almost 2 years now so this was inevitable imho.

what goes up must come down....eventually

George from MD

I suspect the bubble is going to deflate and am acting accordingly. That doesn't mean selling my cars.

bostonvr6

im reading companies like carvana are in big trouble cause they paid big dollars for used car inventory and now people have hit the point they refuse to pay any higher. So somewhat in line what you guys above said, prices may not be going down (yet) but they seem to have peaked. I would say same goes for housing market, and as interest rates rise, disposable income doesnt go as far so prices should start coming down. How much and how fast/slow is the question. Im guessing its going to be a slow ride down.

I myself and waiting for a 991.2 C4 PDK to come under 100K with the options i want. When i even started to think about it about two years ago, they went for 80K.

michaelp

Used 911s at Bay Area dealerships have not been moving for weeks. It looks like there's a standoff between stubbornly high asking prices and unwilling buyers. Only a matter of time before prices start to give.

Guards_Red_991

This is a great indicator.
Seven consecutive weeks of market decline clearly points at investor pessimism, inflation, Ukraine war, Target and Walmart lowering their yearly outcomes, raw materials are hard to find, increase in the price of commodities overall. There's a recession looming, people are pinching their pennies, luxury brands are the first ones to feel it.

gskv

buy more gamestop but it ain't financial advice

1CEBITN

I don't think you are going to see prices going down except in cases where someone absolutely has to sell which is nothing new, that's how the market works. I also don't think people are unwilling to pay any higher, what they are not willing to do is pay 7% or more interest on a 5 or 6 year note for something that they don't need (like a Porsche or a bigger house). Those buyers are no longer in the buyer pool which will flatten prices as the market adjusts to the change in demand to go with the existing supply. The point of raising rates to combat inflation isn't to make prices come down necessarily, it's just to slow the increase or flatten them. We're not going to see used car prices drop, they will flatten though until the age/mileage depreciation is somewhat back in line with history over time. You'll have to wait until the age/mileage of the car increases which will move the price lower from where it's at today. Or until there is more supply than demand when manufacturing picks up in a year or two. Or find a fire sale and take advantage of someone who just has to have the car gone today.

chuckbdc

Next thing you know, there will be new 911s available with less than a <insert your guess here> month wait!

snake eyes

I remember with GT3's were going for current 911 S money in May 2020!
I am not selling my 911 ANYTIME soon, but hopefully that means price of tires go down

michaelp

Regarding the comment on used cars prices being sticky... how much you wanna bet a year from now this will revert?

rileyracing1

I watch this guy on YouTube and he is usually on the mark with were prices and the market in general are headed.