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Porsche Specialist Surrey, Porsche Specialist London, Porsche Specialist East Sussex, Porsche Specialist West Sussex, Porsche Specialist South

996 Turbo - What is a fair price?

P

P0R5CHE

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16 Aug 2018
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I am discussing with a friend buying his 2004 black cab 996 Turbo with 90k miles on the clock. Full specialist service history and a new turbo a couple years ago (£6k bill!) in good nick and would get an inspection done with him covering any required works - so basically need to base the price on a solid car.

We both want a fair deal, no mates rates but say what he would get if he posted it on here, Would appreciate any help

Ta, PK
 
Manual or auto? Any history if condenser/radiator changes? How is the interior, what are the brakes and tyres like?

MC
 
Sorry, description was poor..

2004 996 911 Turbo

Cab with hard top, top in good condition, rag needs tlc but seems solid

Automatic

Black on black - bodywork and interior good condition

Wheels could do with a bit of reconditioning but not too bad

Brakes and tyres in good condition

No condenser changes, issue with the rear spoiler he will have addressed before I buy

Due MOT next month and will clear any advisories along with anything that comes up in PPI (within reason either do job or take it off the price)
 
There's a strangely similar one on AT at 35 grand. My personal opinion is people aren't paying these elevated prices at the moment. I'd be surprised if it would sell at 30.
 
Magic919 said:
There's a strangely similar one on AT at 35 grand. My personal opinion is people aren't paying these elevated prices at the moment. I'd be surprised if it would sell at 30.
Click to expand...

Thats the one, they have it in on commission for him (is that the right term? selling it for him and taking a chunk?) have had it for a fair old while.
 
I suspect there are a fair number of cars on forecourts that are sale or return. They are overpriced and not shifting. Dealer doesn't have any money tied up, so does not care too much. Probably got other priorities.
 
The PPI is your strongest guide. Ask the guy doing it to estimate cost of putting it right. Look up similar spec/mileage cars and deduct money off the valuation based on PPI. Start at c£23k.and whittle away the cost of repairs.
Tell your mate that's the best offer and walk away giving him a day to let you know if he accepts it.

If he doesn't, walk away. Look elsewhere. There's loads of high mileage 996 Turbos for sale.

If he does, pat yourself on the back.
 
Pretty shocked, I thought it would be around 30k when fully made right. Seems to be plenty on auto trader in the high 30's with big mileage, I guess these just aren't selling?

He is hoping for closer to the 35 and thinks the car is going up in value now - do you think these are still dropping/stable or are on their way up at all?

I was expecting it to be 30k so a bit of a surprise and doesn't seem like we will get a deal done when consensus on here seems to be a max of 25k I Love the car but do not want to throw money away. Black 996 turbo is what I want so if I can get lower price for a solid car or 30 for one that is lower miles that is what I should do
 
You won't see many sub £25.k
How much is the dealer going to take?
I would have thought £30ish is pretty fair but not a super deal.
I do think they'll rise slightly over time, certainly can't see them falling back to where they were.
 
P0R5CHE said:
Pretty shocked, I thought it would be around 30k when fully made right. Seems to be plenty on auto trader in the high 30's with big mileage, I guess these just aren't selling?

He is hoping for closer to the 35 and thinks the car is going up in value now - do you think these are still dropping/stable or are on their way up at all?

I was expecting it to be 30k so a bit of a surprise and doesn't seem like we will get a deal done when consensus on here seems to be a max of 25k I Love the car but do not want to throw money away. Black 996 turbo is what I want so if I can get lower price for a solid car or 30 for one that is lower miles that is what I should do
Click to expand...

The market has definitely gone flat lately with lots of cars staying on the market for a while. The fact that a dealer can't sell it at £35k answers whether it's worth that. 90k miles will always put buyers off.

996 Turbo values bottomed out late in 2012/early 2013 and then ballooned through 2014-2015. They stabilised in 2016 and have fallen slowly in the last 12 months. I think they'll stay where they are now for quite a while.

At £25k the car would be a steal but the seller should bite your hand off if you offered him £30k privately as that's probably all he'd clear from his SoR deal.
 
T8 said:
P0R5CHE said:
At £25k the car would be a steal but the seller should bite your hand off if you offered him £30k privately as that's probably all he'd clear from his SoR deal.
Click to expand...

This is what I was thinking, he's being greedy if he wants more from a 'mate' than he'd clear from the deal with the dealer?

A lot of private sellers want dealer prices I've found.
Click to expand...
 
A quick read on here shows frequent posts regarding non-selling Turbos. Some optimism regarding value that is shared by the sellers, but not the buyers. It's a Mexican standoff until sellers react.
 
The market is flat across the board. It is not unique to the Porsche brand.
High mileage examples are unlikely to rise in value and are probably the least desirable. Over-abundance of supply makes it a buyers market if he has cash.

Low mileage examples are struggling to shift - but some of these cars don't make it to the ads and are sold by word of mouth through indys connecting buyers and sellers and Porsche Club members.

Perhaps you might benefit from looking at low(er) mileage cars that can withstand a very thorough PPI (less than £1k expenditure on things to put right from the inspection). You'll pay top-dollar (which is relative to the market condition today as opposed to the market in 2015) but you'll save yourself a shed load of money when it comes to your first service under your ownership- the time that so many owners get the fright of their lives with the phone call after a couple of hours on the ramp and a health check.

A poor example Turbo can eat bank accounts for breakfast as well as the home budget.
 
£27-28k IMHO.

I think much less than that and your friend would be better off keeping it as they would struggle to replace it with anything that could compare at that price point; particularly with a Porsche badge on it.

And conversely, if you think it's worth less than that, then deep down you probably know it's a bit of a stinker, and there's only so much polishing you can do to something brown and stinky before the fun is gone and you realise you should have looked elsewhere in the first place......!

MF.
 
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