Dealer Appraisal Is Ugly!
11-27-2008, 07:29 PM
#16
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Sorry, but it is the 'new' reality of '911 Turbo' ownership and modern era Porsche ownership in general
Years ago, owning a Porsche actually meant something.....soon it will be no different than owning a VW.
Not really a problem to me, since I plan on being buried in mine......still arguing with the EPA on that point.
5500 miles and everytime I drive it, it's like the first time all over again.
11-28-2008, 12:56 AM
#17
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I think the law of supply and demand would mean that with fewer 996 Turbos available, the prices for these limited number of Turbos would be higher than what we see Turbos going for now.
P.S. I'm never selling my Turbo.
P.S. I'm never selling my Turbo.
11-28-2008, 04:00 PM
#20
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The reason is simple.
Overproduction.
Dr. W's goal of 100K cars/year (no matter what) has turned cars such as these into Porsche commodities. It's worse for the 98x/99x NA cars, but same underlying reason.
In comparison to other cars in this category, they are overproduced, Porsche doesn't say 'no' to anyone with a checkbook.
The only time they limit or allocate is when they have produced too many and/or the model simply isn't selling (i.e. Targa 4S....some of the top dealers are only getting one in 2009)
Overproduction.
Dr. W's goal of 100K cars/year (no matter what) has turned cars such as these into Porsche commodities. It's worse for the 98x/99x NA cars, but same underlying reason.
In comparison to other cars in this category, they are overproduced, Porsche doesn't say 'no' to anyone with a checkbook.
The only time they limit or allocate is when they have produced too many and/or the model simply isn't selling (i.e. Targa 4S....some of the top dealers are only getting one in 2009)
I agree with most of the others, you have a really sharp car there, IIWM I would make a couple mods you been itching for and just enjoy the car.
12-01-2008, 09:11 PM
#22
Thought I would post my worthless opinion...I didn't buy my TT for resale or for what others thought. I got rid of a 930 and a 911sc cab for my ...ummm...dream car. I love it, regardless of the current value. Like dock and the supreme dictator...I'm keeping it! HAPPILY!
12-02-2008, 04:21 PM
#24
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Too many cars,--and way too few buyers. Keep that beautiful car to yourself and enjoy it. I ordered my car for ME and I intend to keep it for a long time. That's the way you need to operate sometimes when the economy sours.
12-13-2008, 01:40 PM
#25
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The reason is simple.
Overproduction.
Dr. W's goal of 100K cars/year (no matter what) has turned cars such as these into Porsche commodities. It's worse for the 98x/99x NA cars, but same underlying reason.
In comparison to other cars in this category, they are overproduced, Porsche doesn't say 'no' to anyone with a checkbook.
The only time they limit or allocate is when they have produced too many and/or the model simply isn't selling (i.e. Targa 4S....some of the top dealers are only getting one in 2009)
Overproduction.
Dr. W's goal of 100K cars/year (no matter what) has turned cars such as these into Porsche commodities. It's worse for the 98x/99x NA cars, but same underlying reason.
In comparison to other cars in this category, they are overproduced, Porsche doesn't say 'no' to anyone with a checkbook.
The only time they limit or allocate is when they have produced too many and/or the model simply isn't selling (i.e. Targa 4S....some of the top dealers are only getting one in 2009)
Here Porsche has built a lot of 996/986 and 996turbos, but they sold each one, and made a whole lot of profit, becoming the envy of the entire auto industry in doing so.
Porsche did not "overproduce" these cars. Yes they produced a lots of them, but there were a lot of people wanting to buy them. The depressed value on the used market is not a result of "overproduction". Production decisions by manufacturers really have nothing to do with the used market.
What you really seem to want Porsche to have done is to have "under produced" so that there were fewer cars built than demand, so that some of that demand would flow over to the used market. Porsche learned in the late 80's and early 90's that while this does help prop up used values, this does not work our well for a manufacturer who really only cars about sales of it's vehicles on the new market.
12-13-2008, 02:16 PM
#26
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There are a ga-zillion 2008 Turbo Cabs sitting in Porsche dealer showrooms right now. Those cars are going to have to be heavily discounted to get them sold. So the laws of "supply and demand" and the "trickle down" effect is forcing 996TT prices even lower, especially Cabs.
12-13-2008, 06:16 PM
#27
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Definitely keep your 996TT, the differences are small, you can easily upgrade your car to the same power level. And if you really want a 997TT, check out the used market, they are taking a severe beating like everything else.
12-13-2008, 08:28 PM
#29
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I think the peak was 2002 with something around 2,000, but I could be off on that. It was posted and should be in the archive.
Remember that at the beginning of this decade, we were in the dot com boom. Lots of cars were given away to execs by companies with successful IPO's, and there were lots of paper millionaires. I know when I placed my order in 2000, every Porsche on the Chicago lot was being loaded on a truck and going to California. I paid full sticker for my 2002X50, and because I wasn't "over sticker" I waited well over a year. When my car came in, the dealer offered me $10,000 not to take it, suggesting supply was still well short of demand. The cars weren't "overproduced". But, the economy cooled down, demand went down, and price went down. Used cars then became "over-available". Maybe the more appropriate comment is they were "under-retained" by the original owners.
Original buyers were upset if they thought they had an "investment". The guys who leased cars made out like bandits, because the residuals were unrealistically high. As I always expected to use my car up, resale price is of no consequence. Current buyers are very fortunate. AS
Remember that at the beginning of this decade, we were in the dot com boom. Lots of cars were given away to execs by companies with successful IPO's, and there were lots of paper millionaires. I know when I placed my order in 2000, every Porsche on the Chicago lot was being loaded on a truck and going to California. I paid full sticker for my 2002X50, and because I wasn't "over sticker" I waited well over a year. When my car came in, the dealer offered me $10,000 not to take it, suggesting supply was still well short of demand. The cars weren't "overproduced". But, the economy cooled down, demand went down, and price went down. Used cars then became "over-available". Maybe the more appropriate comment is they were "under-retained" by the original owners.
Original buyers were upset if they thought they had an "investment". The guys who leased cars made out like bandits, because the residuals were unrealistically high. As I always expected to use my car up, resale price is of no consequence. Current buyers are very fortunate. AS
12-13-2008, 11:06 PM
#30
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Keep your car...and for $70M more...why not buy another 996TT for the track (LOL). I agree that the 997TT is a lateral move...a cosmetic change. The longer you keep your 996TT the less the depreciation will impact your cost of ownership. And cars are very rarely an investment anyway...what we are talking about is enjoyable transportation...enjoy it.