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Jcx
Estoril


Joined: 15 Aug 2013
Posts: 3830


2010 Porsche 997 Turbo

PostPosted: Mon Nov 05, 2018 6:38 pm    Post subject: Reply with quote

But Sponge, enough banter, what did you buy?
 
  
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HSC911
Zolder


Joined: 23 Jul 2014
Posts: 5553
Location: Bedford


PostPosted: Mon Nov 05, 2018 9:35 pm    Post subject: Reply with quote

Jcx wrote:
But Sponge, enough banter, what did you buy?


Yeah

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Zingari
Donnington
Donnington


Joined: 25 Oct 2009
Posts: 12574
Location: Cheshire

1993 Porsche 964 Anniversary

PostPosted: Mon Nov 05, 2018 10:28 pm    Post subject: Reply with quote

Jcx wrote:
But Sponge, enough banter, what did you buy?


Hand He's checking whether it will fit in the carcoon first
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Jcx
Estoril


Joined: 15 Aug 2013
Posts: 3830


2010 Porsche 997 Turbo

PostPosted: Mon Nov 05, 2018 10:37 pm    Post subject: Reply with quote

Zingari wrote:
Jcx wrote:
But Sponge, enough banter, what did you buy?


Hand He's checking whether it will fit in the carcoon first


Question
 
  
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silvermilnec
Barcelona


Joined: 20 Feb 2012
Posts: 1478
Location: Leeds West Yorkshire


PostPosted: Tue Nov 06, 2018 12:06 am    Post subject: Reply with quote

Surely with prices dropping like a stone he will wait a bit longer Pop Corn
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spongebob squarepants
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Joined: 20 Dec 2009
Posts: 4187
Location: Manchester and Iraq


PostPosted: Tue Nov 06, 2018 5:35 am    Post subject: Reply with quote

silvermilnec wrote:
Surely with prices dropping like a stone he will wait a bit longer Pop Corn


Actually ive looked through prices today and they are now on the rise! Funny how quickly things can change, so i thought I may need to get in sooner rather than later Surprised
I also heard finance rates will balloon to 15% in the spring with Brexit looming Wink
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911TEL
Barcelona


Joined: 29 Oct 2007
Posts: 1362
Location: Inverness and Highlands

2011 Porsche 997 Turbo S

PostPosted: Tue Nov 06, 2018 6:48 am    Post subject: Reply with quote

spongebob squarepants wrote:
silvermilnec wrote:
Surely with prices dropping like a stone he will wait a bit longer Pop Corn


Actually ive looked through prices today and they are now on the rise! Funny how quickly things can change, so i thought I may need to get in sooner rather than later Surprised
I also heard finance rates will balloon to 15% in the spring with Brexit looming Wink


It must be all the chat on here that has the prices on the rollercoaster ....!
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benbuhagiar
Spa-Francorchamps


Joined: 28 Dec 2014
Posts: 254
Location: Kent

2008 Porsche 997 Carrera 2

PostPosted: Tue Nov 06, 2018 9:29 am    Post subject: Reply with quote

Spongebob, what are you smoking? Laughing One minute there is a crash, next they are rising...

I don’t see finance rates getting anywhere near 15% but if they do, car values will come down.
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FZP
Magny-Cours


Joined: 18 Jan 2015
Posts: 2577
Location: Cheshire


PostPosted: Tue Nov 06, 2018 9:56 am    Post subject: Reply with quote

Perhaps you get a golden hue with the benefit of hindsight.....
Dont know
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bludger
Newbie


Joined: 29 Oct 2017
Posts: 25



PostPosted: Tue Nov 06, 2018 10:13 am    Post subject: Reply with quote

benbuhagiar wrote:
Spongebob, what are you smoking? Laughing One minute there is a crash, next they are rising...

I don’t see finance rates getting anywhere near 15% but if they do, car values will come down.


Finance rates don't have to go anywhere near 15% for values to go down. If there's a credit crunch rates can be 1% but if you can't get the financing then values will fall. Also it's partly an issue of perception. You can see the uncertainty in this forum; that leads to more caution which slows sales which impacts on prices. Brexit, the global economy; oil prices call it what you will more uncertainty leads, eventually, to lower prices.

If you thought that prices might fall by 10,15,20% in the next two years would you buy now on 3% finance or wait for two years when you might be paying 10%? I'd wait.
 
  
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benbuhagiar
Spa-Francorchamps


Joined: 28 Dec 2014
Posts: 254
Location: Kent

2008 Porsche 997 Carrera 2

PostPosted: Tue Nov 06, 2018 10:20 am    Post subject: Reply with quote

I was monitoring 997.2 prices for 3/4 for years before buying mine earlier this year. Prices didn’t decline at all in that period.

Whether you buy a Porsche now or in the future, I am very confident it will hold its value better than a BMW/Merc/Audi.

I’d buy now and enjoy driving the car. If you lose 10% so what? You’d still be buying a great car and will hold its value better than its German equivalents.
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Robertb
Long Beach


Joined: 01 Sep 2003
Posts: 6644
Location: South Oxfordshire

2002 Porsche 996 Carrera 4S

PostPosted: Tue Nov 06, 2018 10:53 am    Post subject: Reply with quote

I was reading an old car mag last night, from 2002. There was a Meridien ad in there with the following, among others:

1988 Ferrari 328 GTS, 3,000 miles. £44,000 (inflation adjusted £68k)
2002 Boxster 2.7, 5,000 miles £37,850 (inflation adjusted £59k)

The Ferrari was 14 yrs old, so it would be the same as a 3000 mile 2004 F430 or 360m now being up for around £58k relative to a nearly new 718 at £50k.

Meridian now have a 7000 mile 2007 F430 for £103k....

Shows that new Porsches have become relatively good value, used Ferrari around 30-40% overvalued.
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bludger
Newbie


Joined: 29 Oct 2017
Posts: 25



PostPosted: Tue Nov 06, 2018 10:54 am    Post subject: Reply with quote

benbuhagiar wrote:
I was monitoring 997.2 prices for 3/4 for years before buying mine earlier this year. Prices didn’t decline at all in that period.

Whether you buy a Porsche now or in the future, I am very confident it will hold its value better than a BMW/Merc/Audi.

I’d buy now and enjoy driving the car. If you lose 10% so what? You’d still be buying a great car and will hold its value better than its German equivalents.


As regards the first point you are undoubtedly correct and might have stretched it much further. But this is due to easy money and we've had that for ten years; most buy on credit and with easy credit you get higher prices.

As to the second I'm sure you're right but of course it's all relative; if 911 prices fall by 20% then BMW/Merc will probably fall by 25-30%.

As to the last of course you are right; for the genuine enthusiast it's the drive that matters and if the car loses 20% of its value so what!
 
  
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FZP
Magny-Cours


Joined: 18 Jan 2015
Posts: 2577
Location: Cheshire


PostPosted: Tue Nov 06, 2018 11:15 am    Post subject: Reply with quote

There is also the bang for buck metric that isn't being considered which should hold up values to a certain extent.
The argument of "I can buy a new mondeo or a 911" will always have a place in keeping values at a certain level. Nostalgia is a moving line through automotive history and as the next generation gets to the point where 997's were the first 911 they lusted after, we'll see another rise in prices once again.
Rose coloured glasses may be for the optimistic, but yellow lenses are for nostalgia and memories......and driving in low light conditions of course Grin
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bludger
Newbie


Joined: 29 Oct 2017
Posts: 25



PostPosted: Tue Nov 06, 2018 11:16 am    Post subject: Reply with quote

Robertb wrote:
I was reading an old car mag last night, from 2002. There was a Meridien ad in there with the following, among others:

1988 Ferrari 328 GTS, 3,000 miles. £44,000 (inflation adjusted £68k)
2002 Boxster 2.7, 5,000 miles £37,850 (inflation adjusted £59k)

The Ferrari was 14 yrs old, so it would be the same as a 3000 mile 2004 F430 or 360m now being up for around £58k relative to a nearly new 718 at £50k.

Meridian now have a 7000 mile 2007 F430 for £103k....

Shows that new Porsches have become relatively good value, used Ferrari around 30-40% overvalued.


I believe that Ferrari have a "halo effect". "I own a Ferrari, therefore I am successful and rich". Look at Ferrari adverts; cars have only 20K miles in 20 years! They are, by and large, not cars but status symbols and this is typical of an easy credit, low interest rate period; values are driven up. Some goods are "positional" and Ferraris come into that category.

Porsche on the other hand is the "everyday supercar"; the DD with supercar performance. Still a halo effect but not so pronounced as Ferrari.
 
  
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jimmy p
Nürburgring


Joined: 01 Jan 2011
Posts: 458
Location: Notts / Derbys


PostPosted: Tue Nov 06, 2018 1:37 pm    Post subject: Reply with quote

Im assuming with the change of direction of this thread you have now bought your new car, pics please!!
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spongebob squarepants
Reims


Joined: 20 Dec 2009
Posts: 4187
Location: Manchester and Iraq


PostPosted: Tue Nov 06, 2018 2:36 pm    Post subject: Reply with quote

jimmy p wrote:
Im assuming with the change of direction of this thread you have now bought your new car, pics please!!


Grin http://www.911uk.com/viewtopic.php?t=130851
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991 C2S X51 powerkit PDK in racing yellow, PCCB, PDCC, PSE, Sports design kit.
EX 997.2 Carrera 4S PDK
EX 997.2 Carrera S PDK
EX 993 C2 manual in guards red
EX 997 C2 gen 2 PDK
EX 993 Targa
EX 993 Carrera 4 manual
EX 996 3.4 Cabriolet
 
  
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jonttt
Zolder


Joined: 20 Aug 2012
Posts: 5096
Location: Liverpool

2014 Porsche Boxster 981

PostPosted: Tue Nov 06, 2018 5:58 pm    Post subject: Reply with quote

I think Sponge’s “perception” of the market is now somewhat biased Grin
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