Considering selling my 991....shocked by my dealer's offer

whitesteed · 19 Apr 2012

Due to unforseen financial reasons, Im considering selling my white 991 2 coupe...the toughest decision in my life since its a perfect car in countless ways...

Its a base model but with all my extras it came to about £87k (including the "usuals", plus the Bermester audio system....I must have been mad...)

I have only had it for about 4 months, with 2000 miles on it....my dealer has offered to take it back.....with a massive depreciation down to £71k, thats like £4k/month.... :sad: is this how much a car of this sort depriciates?

Would I be better off finding a quote somewhere else? or if anyone here interested, feel free to pm me..

Thanks for reading

B

Tinker · 19 Apr 2012

I don't want to teach my grandmother to suck eggs, but when you remember the tax element of the retail price, your dealer's buy-back offer ain't so bad, especially remembering too that he now has to make a profit on the car's next sale.

clarkycat · 19 Apr 2012

Well I'm gutted for you there mate. It's lost what I paid for my 993.

A short spell like that is probably the way to get hit the most, like the guy said, a lot is tax, then the price will be based close to the model OTR price before your options. Am sure like anyone buying a new car that you were thinking longer term benifits, i sincerely hope your circumstances change and you can keep it.

chimp911 · 19 Apr 2012

Gutted for you Whitesteed, but unfortunately Tinker and Clarkycat are right - a massive chunk of your new car purchase goes straight to the treasury in the form of VAT, which is why most cars drop 20% or more in value the moment they drive off the forecourt :nooo:

Perhaps you can look at some alternative financing options, for example interest only payments, as a means of keeping the car or at least reducing the short term burden while you sort your financial issues out?

It'd be a real shame to part company with your P&J so soon after getting it, but what they are offering seems fair given the circumstances. When all is said and done it is still only a car, and one that can be replaced in the future, so if selling it at that price will help sort out whatever financial circumstances you are currently facing then it seems an easy choice to make. Good luck, I hope it all works out for you :thumb:

tmilligan · 19 Apr 2012

I'd echo all the above. New cars are not solid financial investments (then again what is).

You have to take into account that you've ordered the car with your personal spec. Anyone coming in to buy a 991 will either want to order it precisely how they want it, or enjoy a decent discount for one with a few miles and someone else's spec. I'd expect the dealer (who will need to earn a profit to pay for the cash he is putting at risk in buying your car back) would offer it at 10% off list i.e. about 79k. Factor in a bit of haggle room and some free mats and he won't make a vast amount and has the risk of the thing sitting on the forecourt.

I;d also recommend trying to find some way of refinancing etc. You have been through the worst part of the depreciation curve - I wouldn't expect the dealer's bid to too much lower in a year's time.

Anyway, best of luck..

PeterS · 19 Apr 2012

It's bad news you have to part with it.

The biggest drop is the second you drive out the showroom.

I'm surprised that the depreciation is as low as that.

mark pearce · 19 Apr 2012

Ihave been offered 5 or 6 99's in the last few weeks
what you have to remember is at what price would you buy a second hand car rather than a new one.
would you pay £3 0r 4,000 less than list for a 4 month old car or have a new one?
I think if a similar car was £10,000 off list you'd consider one, but if £4000 off list youd buy a new car.
factor in a dealers margin i think a used 991 is circa £15,000 off list to mark up at £10,000 off list

Slayer · 19 Apr 2012

Sorry to hear this. I have experienced this 'shell shocked feeling' many times after the valuation by the OPC's.
Hope it goes well. May be try selling it privately?(911UK, Pistonheads etc).

Maxie · 19 Apr 2012

Re: Considering selling my 991....shocked by my dealer's off

whitesteed said:
I have only had it for about 4 months, with 2000 miles on it....my dealer has offered to take it back.....with a massive depreciation down to £71k, thats like £4k/month.... :sad: is this how much a car of this sort depriciates?

Unfortunately yes, it has been no different since the 911 started to be mass-produced, ie from the 996 onwards and will no doubt continue with the next 992.

Private sale seems best though for less hassle you could take it around to different OPCs and see what each offers.

~ Maxie

T8 · 19 Apr 2012

Re: Considering selling my 991....shocked by my dealer's off

whitesteed said:
Would I be better off finding a quote somewhere else?

Sad news.

Unfortunately if one OPC has offered you £71k I doubt whether another would offer you much more. You might find a specialist prepared to offer a bit more but if the retail price is £77k (as MP says) it won't be much.

Privately you might get more than a dealer offer but finding someone prepared to pay c£73k in cash for a private purchase over £77k for a dealer purchase would take time - during which the car is depreciating further.

T8 · 19 Apr 2012

Have you considered the 'Sale or Return' (SOR) option :?:

If you can wait until the dealer has actually sold the car they might be prepared to offer you more as they aren't actually tying up any of their own cash in the deal.

Tinker · 19 Apr 2012

T8996C4 said:
Have you considered the 'Sale or Return' (SOR) option :?:

If you can wait until the dealer has actually sold the car they might be prepared to offer you more as they aren't actually tying up any of their own cash in the deal.

Now that's a good idea.

spectraluk · 19 Apr 2012

T8996C4 said:
Have you considered the 'Sale or Return' (SOR) option :?:

If you can wait until the dealer has actually sold the car they might be prepared to offer you more as they aren't actually tying up any of their own cash in the deal.

+1

JPJPJP · 19 Apr 2012

Sorry to hear of this predicament.

I think the OPC offer is about what I would expect

As others have suggeted, you might find a private buyer for a bit more or be able to arrange a Sale or Retrun deal somewhere a bit closer to £75k, but I think you are facing a big hit whatever happens

Is there no way you redo the finances to keep it?

Richyd · 19 Apr 2012

New cars always take a MASSIVE hit when you drive them away, as already stated.

I bought a new BMW X5 MSport a few years ago - hated it. Sold it back to the dealer 2 weeks later and lost £6k. Nightmare.

This is why I'm now driving a 993.

Considering selling my 991....shocked by my dealer's offer

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