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Oh dear


PurpleHaze
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Hi all

I recently acquired a 2003 996 Turbo with 12k miles (13.5k now!). It has everything I was looking for, the spec is perfect and I love every second I'm in it.

Today I read in the Metro - "used cars set to lose 25% of their value before road tax hikes".

Is anyone 'concerned' about the future value of their Porsche in the current climate? I'm starting to feel a bit twitchy about it. I bought it from an OPC and I don't mind paying slightly more for the initial attention they give it and of course the warranty, but looking around at similar private Turbos, they seem to be depreciating a lot quicker than I'd hoped they would.

In anyone's expert opinion, is it worth keeping it or would it be better to cut my losses now, sell it and just fondly remember the 3 or so months I've had it.

The deposit/finance I've done is 30/70 so i'm not overly worried about negative equity just yet - I just wondered whether now would be the time to move it on with the low mileage. I paid £50k for it but I've recently added around £2.5k of Tequipment.

Anyone have any similar thoughts about theirs?

Cheers!

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To be honest I do share your sentiments - I only run a 2.7 Cayman but one of the things I hear (from a very good friend who is a product manager in BP) is that tax is only going to get worse, and as this government puts the sh1ts up everyone - the value of these premium brands lowers - I personally would tread carefully because I cant afford to lose too much money (after paying all that flaming tax!). Some people won't care too much and some will be terrified!

I have decided as a second car to get a diesel - I went through the dilema of petrol or diesel but at the end of the day you takes your choice..

Dunno what to say about your £50k Turbo apart from lucky bugger - but if the tide turns against the Porsche owner because of emmisions etc then Porsche have to change tact.

One thing for sure - its only gonna get worse IMHO.

Tone

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I have mixed views on this. In fact I just changed from a 335d to a Cayman S! (used).

I think you need to take into account that whilst I dont agree with tax doubling for cars like this to £450, it needs to be taken into perspective - your car will for a while at least lose 5-10k per year in depriciation, cost on avergae £1k per service, and also fuel and so on - is another £200 a year really going to make much difference?

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Thanks for the interesting comments. It strikes me that a lot of people are a bit apprehensive about where the current economy is heading (understandably), but I think I echo _Tone_'s comments by agreeing it can only get worse.

I'm fairly confident it's going to be a good number of years before Porsche owners regularly wake up hoping a brick hasn't made its way onto the driver seat via the windsheild or, worse still, smashed eggs over the paintwork. That being said, every time I'm not in my car I'm concerned about having money tied up in it. Of course to fix that feeling I just get into it, smell the alcantara and introduce the gas pedal to the carpet.

It's a keeper (for now)...

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Hi all

I recently acquired a 2003 996 Turbo with 12k miles (13.5k now!). It has everything I was looking for, the spec is perfect and I love every second I'm in it.

Today I read in the Metro - "used cars set to lose 25% of their value before road tax hikes".

Is anyone 'concerned' about the future value of their Porsche in the current climate? I'm starting to feel a bit twitchy about it. I bought it from an OPC and I don't mind paying slightly more for the initial attention they give it and of course the warranty, but looking around at similar private Turbos, they seem to be depreciating a lot quicker than I'd hoped they would.

In anyone's expert opinion, is it worth keeping it or would it be better to cut my losses now, sell it and just fondly remember the 3 or so months I've had it.

The deposit/finance I've done is 30/70 so i'm not overly worried about negative equity just yet - I just wondered whether now would be the time to move it on with the low mileage. I paid £50k for it but I've recently added around £2.5k of Tequipment.

Anyone have any similar thoughts about theirs?

Cheers!

I use to think the 996 Turbo looked fantastic value used and once they hit around £50000 level that most of the depreciation was over . But not now.

The simple fact is a 997 Turbo with under 10000 miles can be had for £75000 and thats with a good spec and in the right colour. By the end of this year im pretty sure you will be able to get that same car for under £70000.

I've just spoke to my dealer about the new Carrera 997 with PDK to be told that i could get one for July in my chosen spec. In other words no waiting list so it shows you how bad the market is IMO.

I also asked about the Turbo used to be told that they're increasing hard to shift.

My feeling are that by this time next year i will be able to get an 06 Turbo for between £60000/£65000 , if thats the case then i would imagine your Turbo will be worth between £33000-£37000 .

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"I've just spoke to my dealer about the new Carrera 997 with PDK to be told that i could get one for July in my chosen spec"

You mean July build for September (MY'09) delivery as they don't start producing the facelift cars for the UK until then.

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There's just too much hype around at the minute about cars losing their value etc.

Leave it to settle for a few months. It'll all be fine +++

Couldn't agree more!!

If you have bought the right car at the right money then it's fine...and just ignore the doom sayers predicting all cars will be worth 42p in a year...

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  • 4 months later...

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