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Diesel130
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Joined: 26 Jun 2006
Posts: 36



PostPosted: Wed Jul 05, 2006 3:53 pm    Post subject: Reply with quote

Didn't know 996's had come this low ...

Just spotted this on autotrader at a well known indy. Isn't on their own web site though ... interesting !

Shame it's red with savannah interior and tiptronic though - I'm looking for silver, black & manual

***

1998 R Reg PORSCHE 911 (996) Carrera 2 Coupe Tiptronic105,000 miles, Guards red. full savanna leather, electric sunroof, traction control, sound pack, cruise control, fully electric memory seats. Full Porsche service history. 17,995.

***


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PolarExpress
Reims


Joined: 03 Mar 2005
Posts: 4396
Location: Prison

2000 Porsche 996 GT3 Mk1

PostPosted: Wed Jul 05, 2006 4:11 pm    Post subject: Reply with quote

Not at all surprising with that colour/spec combo... probably has the burr walnut option too... Sad


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Dijon


Joined: 10 Nov 2005
Posts: 7590



PostPosted: Wed Jul 05, 2006 4:22 pm    Post subject: Reply with quote

Still it sets a baseline for current 996 prices to drop to. I can't see them going any lower in the long term!

Hopefully.


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Tiptronic
Shanghai


Joined: 28 Sep 2005
Posts: 4685



PostPosted: Wed Jul 05, 2006 4:25 pm    Post subject: Reply with quote

I think you will see 996's circa 15k within another year, and within 3 years probably 12k for a 98 996.

Sad but true.

Depreciation is going to come as a very nasty shock to the company.


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Dijon


Joined: 10 Nov 2005
Posts: 7590



PostPosted: Wed Jul 05, 2006 4:28 pm    Post subject: Reply with quote

I'll won't be too miffed if mine is still worth 20K at 8 years and 80K miles. 12K would be a bit of shock at 11 years though!

What prices have the 993s bottomed out at? I know you can get 964s for 12-15K.


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Shed17
Montreal


Joined: 23 Jul 2004
Posts: 567



PostPosted: Wed Jul 05, 2006 5:38 pm    Post subject: Reply with quote

Don't tell anybody on Pistonheads about that one, they are having enough problems accepting that the 996 can actually suffer from RMS failure, this would destroy them as they are currently trying to talk up the value of the 996 as long as you get a warranty!!!!! Wink Very Happy

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Dijon


Joined: 10 Nov 2005
Posts: 7590



PostPosted: Wed Jul 05, 2006 5:58 pm    Post subject: Reply with quote

I think it will depend on how this 7th RMS seal does. If Porsche can make that a thing of the past, and the engine problem subsides then the residuals will probably pick up. In most respects the 996 is a great car and not expensive to service at an indie.

However, I feel at the moment that a warranty is a necessity.


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Tiptronic
Shanghai


Joined: 28 Sep 2005
Posts: 4685



PostPosted: Wed Jul 05, 2006 6:36 pm    Post subject: Reply with quote

993's with low milage and good condition will always have good values, and as time progresses they become fewer and as a result values will hold.

Last of the line etc etc, dont want to bore all the old gang,

The 996 is doomed as is the Boxster to perenial depreciation, a fact of too many made in a short space of time, not thought of as a classic, and also the reliability issues.

You can buy the 993 not just for performance or handling, but because it is iconic, the 996 aint, and never will be other than the GT3, and I have the next least depreciating 996 in the C4S.




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Donnington
Donnington


Joined: 31 Dec 2002
Posts: 12735
Location: Nürburgring Nordschleife

2003 Porsche 996 GT3 Mk2

PostPosted: Wed Jul 05, 2006 7:47 pm    Post subject: Reply with quote

Previous poster wrote:
Quote: Originally posted by oceancarrera on 05 July 2006

Not at all surprising with that colour/spec combo... probably has the burr walnut option too... Sad


but actually not bad for 8 year old 100+k car !

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Dijon


Joined: 10 Nov 2005
Posts: 7590



PostPosted: Wed Jul 05, 2006 8:23 pm    Post subject: Reply with quote

I'm sure it has a few miles left in it yet.

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Richard Eff
Imola


Joined: 09 Jun 2004
Posts: 824



PostPosted: Wed Jul 05, 2006 8:32 pm    Post subject: Reply with quote

Previous poster wrote:
Quote: Originally posted by Speed Freak on 05 July 2006

993's with low milage and good condition will always have good values, and as time progresses they become fewer and as a result values will hold.



Laughing
and Cool
and Very Happy

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Dijon


Joined: 10 Nov 2005
Posts: 7590



PostPosted: Wed Jul 05, 2006 8:33 pm    Post subject: Reply with quote

Previous poster wrote:
Quote: Originally posted by Richard Eff on 05 July 2006

Previous poster wrote:
Quote: Originally posted by Speed Freak on 05 July 2006

993's with low milage and good condition will always have good values, and as time progresses they become fewer and as a result values will hold.



Laughing
and Cool
and Very Happy

Best not drive it too far though! Wink

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masopa
Newbie


Joined: 05 Jun 2006
Posts: 44
Location: Scotland


PostPosted: Wed Jul 05, 2006 9:00 pm    Post subject: Reply with quote

Ouch. That's a pretty low price even at that mileage. Makes my 25k 66k-er look very expensive. Colour combo is horrible (IMHO) which, like a house's location, is not easy to change (well it is, but it shows up on HPI).

I personally reckon demand and supply will keep prices near to 20k. Much lower than that and every Tom Dick and Harry will be buying them. Now this means one of two things: either the prices will rapidly fall across the board due to the disappearance of the "911" factor - don't forget, to the untrained eye the 996 doesn't look that dissimilar to the 997 - or everyone who has a vested interest in Porsche values will keep prices above this "Joe Bloggs" threshold.

I think the specialist dealers especially will push very hard in this direction. Likewise (obviously) owners will want to keep prices high. At the end of the day, if you've bought a 30k car and are faced with the prospect of selling it for trade in a few years later for half that what would you do? I'd be tempted to keep it, barring some freak financial crisis.

Just my 0.02.

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Tiptronic
Shanghai


Joined: 28 Sep 2005
Posts: 4685



PostPosted: Wed Jul 05, 2006 9:07 pm    Post subject: Reply with quote

Paul

Depreciation proof days long gone fraid,

buy right and you could be ok, but price, spec, colour and condition is everything.

I would pay 25k for a silver 1998 996 C2 Man, with no toys as long as it had no more than 65k miles and a GT3 body kit and wheels and full history.

However I wouldnt give 18k for a burgandy C4 1998 well speced with savana interior, and a tip, on say 80k miles.




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Dijon


Joined: 10 Nov 2005
Posts: 7590



PostPosted: Wed Jul 05, 2006 10:23 pm    Post subject: Reply with quote

Silver is the one colour that I would never buy - there are just too many silver cars. I'd go for Seal, gunmetal or graphite. But not plain silver. Even the police use it now.

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masopa
Newbie


Joined: 05 Jun 2006
Posts: 44
Location: Scotland


PostPosted: Wed Jul 05, 2006 10:24 pm    Post subject: Reply with quote

Speed Freak, I fear you're right. I'm banking on losing c. 5k (maybe more) within two years. However, if it fell to half it's value now I'd be pretty gutted.

Having said that, you're right - as long as I get the one I want (silver or black, black or metropole interior, decentish miles, FPSH, well cared for) then I can live with the depreciation.

Still can't believe they can fall as far as people are suggesting though - there must be a lower bound, or at least a price at which the fall beyond is slow.

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Dijon


Joined: 10 Nov 2005
Posts: 7590



PostPosted: Wed Jul 05, 2006 10:29 pm    Post subject: Reply with quote

I was assuming I would lose 5K per year for the first 3 years. I think it will be a while before you see them at 15K though, unless they are damaged.

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masopa
Newbie


Joined: 05 Jun 2006
Posts: 44
Location: Scotland


PostPosted: Wed Jul 05, 2006 10:31 pm    Post subject: Reply with quote

Fingers crossed you're right SP - for all our sakes.

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Tiptronic
Shanghai


Joined: 28 Sep 2005
Posts: 4685



PostPosted: Wed Jul 05, 2006 10:32 pm    Post subject: Reply with quote

Chris,

do you really not think that in 2009, that we wont see 1998 996's for as little as 12,000.

Its not just 996's,

You can now pick up a 2001 M3 BMW with a bit of milage for as little as 15k!!

Cars seem to be depreciating like never before, welcome to the world of oversupply and the never never paying for it.

It has to pass down somewhere


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Rob J
Sepang


Joined: 14 Sep 2005
Posts: 2912
Location: Dorset / Kazakhstan


PostPosted: Wed Jul 05, 2006 10:47 pm    Post subject: Reply with quote

Previous poster wrote:
Quote: Originally posted by Speed Freak on 05July2006Chris,
do you really not think that in 2009, that we wont see 1998 996's for as little as 12,000.
Its not just 996's,
You can now pick up a 2001 M3 BMW with a bit of milage for as little as 15k!!
Cars seem to be depreciating like never before, welcome to the world of oversupply and the never never paying for it.
It has to pass down somewhere


Spot on Daz, when I got rid of my CLK last year for the Porsche, the amount it was worth was a joke for how much car it was. I almost decided to keep the thing it was worth so little. Somebody got a great buy.

At the end of the day I can afford to keep the Lotus because it is virtually depreciation proof. Hopefully the GT3 will be in the same mould eventually.


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