HOW MUCH I LOST Selling my Porsche 992 911 Carrera | Why I Sold after 18 Months Ownership
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- Опубліковано 16 лип 2024
- How much I lost selling my Porsche 992 Carrera 2 after 18 months of ownership with finance. Did I loose much money on depreciation & interest selling my base 992 911 before it was 2 years old? Check out the used value & trade prices.
I purchased my new Porsche 992 C2 pre pandemic before delivery of new cars became slow and the used market also started to become short of stock.
I owned the car on finance and started with a fairly large amount of money down before starting a finance agreement for 3 years of ownership.
Where I would have expected to see shallower depreciation curved on a Porsche 911 than most other cars, I found that the car actually only slightly dipped and started to return to new values.
Lack of available stock and slow delivery of new cars from the Porsche factory mean that available cars started to sell on dealer forecourts for far more than they usually should be worth.
With trade values usually being less than car value selling on a dealer forecourt I never thought about selling my 992 C2. I would have lost in depreciation and also cost of interest on the finance.
However the pandemic has caused the market to do strange things and after checking trade value since the Porsche 992 was 12 months old I eventually decided there was a deal to be made.
I follow the channel / fourwheeltradercardepr... who reviews car values and the best time to buy. I find his videos really useful and interesting. Check him out!
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Chapters
0:00 - intro
0:23 - how I bought the car new
1:07 - pandemic changing value
1:58 - trade buyer prices
3:38 - trade values close to new prices
4:31 - what it cost me for 18 months
5:44 - settlement value
6:19 - what price did I get
7:44 - how much I got back & lost
8:29 - why I decided to sell
9:10 - what next
Disclaimer ** Nothing discussed in this video is me giving financial investment advice. This is intended for entertainment purposes only. My views are my own and shared information is based on my own experience. If you are thinking of doing the same you should seek advice from qualified financial advisors before proceeding.
Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you.**
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@@isaacnewton3498 I will stand corrected if I am wrong but I am pretty sure Porsche have taken a stance that they will never drop a full combustion engine. I think they are investing in an alternative fuel plant. I believe I actually saw a video of it on their own UA-cam channel pop up very recently. So I think there is still going to be non hybrid models but just not with petrol fuel as we know it. Again I will stand corrected if I have understood that wrong.
i sold my 992 over the summer (it was a heavily optioned 4S coupe) and i actually scored a profit. I know….hard to believe. But like you said, the used car market is so over heated….it’s crazy! Ended up buying a Taycan 4S (which i love) but i desperately miss my 911. Soooo….i ordered a 911 GTS4 a few weeks back. I probably won’t see it for 6 months or more……but it’s gonna be awesome!
Huge mistake selling. I’m a 31 years of 911 ownership and dabbled with other brands in there like Ferrari, etc…. The Porsche 911 is KING. It just is and why everything top end is also judged by. Keep at 911 long enough and you’ll never lose money. I always at least broke even but mostly made a profit on every 911 I sold. My last C4S, I sold for a $23k profit. On top of that, the 911 is bulletproof in reliability and maintenance.
Absolutely made sense to sell! You ended up there with a cracking deal to cash out. I'll be intrigued to see what you find in the second-hand market. I was pricing up a 911 second hand and to get the features I wanted from the car I could only find cars that had things I didn't want and that resulted in the cost of the cars being much higher than just getting new. Look forward to the next videos to see what you get next :)
Hey Andrew! I am happy other people are seeing the logic in it too. It was difficult for me as it was my car but the offer eventually made sense the higher it went. Indeed, the problem you are seeing is compounded right now by the used car bubble and lack of available used examples. There was very little around spec'd like my car from the handful on sale when I was comparing forecourt prices. There are some really high spec cars out there but as you say highly inflated prices. Once I get a chance to go through the market and see what is available I will share it up on the channel along with all the costs I can investigate. When I have looked in the past there was always some amazing cars for the same value used, will be interesting to see what it is like now! There's been a few new models made it to the market since I took delivery of that 992 so I will get a chance to look at those now too.
Great video. Nice to be guided through your thought processes. I’ve just sold my Range Rover Sport, purchased December 2019 for £3,000 more than what I paid for it! Though I had a plan, I test drove a 911 and fell in love and so I’m on the order list for Q1 2022 delivery. I think it’s wise to sell if you’re in a more advantageous position, though ploughing that same gained financial windfall into the used market is a pointless exercise. I think this used car bubble only works for those who sell in it, and purchase brand new.
Good luck with your new vehicle
Ah that's good news! I know Land Rover are quoting 6 months for new cars at the moment and the second hand values are like new. So well done on that one you've done well too!
Yeah I think at the moment anyone holding desirable cars short in supply are holding the cards. Fingers crossed though if anyone drops out you will see a 911 sooner. I did get told that the factory was telling the dealer they plan on stepping up production when they return from summer break. I was discussing what else I could get into before I sold up.
Who knows when this used bubble will change. I opted for the bird in the hand like you did so I can sit back and have the money ready for my next option.
Thanks, as soon as I do something I will share it. In the mean time I will share my research and check out the costs as always!
Great video, very transparent and the logic you applied makes perfect sense.
I appreciate that!
Hahah so I’m not the only one who sits in front of his couch while making a video 🤣 love it!
lol most people I watch do to be honest. They just have a nice house as a background unlike me haha
Good for you Steve. Sounds like you got a nice deal. Good to have options. Look forward to hearing what you decide to get next. Can’t go wrong with a new Porsche. Cheers 😎
Absolutely Gilbert! Hope all is well! Didn't want to give it up but it was just too good a chance to rinse & repeat with the same funds. It was a tough decision but I really do think I will end up in another new Porsche. As there is a delay on delivery I will absolutely take a look at options and share what I find. Looking forward to trying out a couple of other cars at the Porsche Experience Centre next month too! Cheers
Great video and insightful. Awaiting the delivery of my 992 GTS4 Cabriolet in November. Always good to hear about a result like this.
Hey Kris! Nice choice, not far away now then! Is that your first 911? I think you will see good residual on that for a little while, there can't have been many of those delivered so far.
@@Get10Yards Yep first 911, I was very lucky I had a Carrera 4S Cab on order for quite a while and as soon as the GTS became known I moved it over straight away. I live in Newcastle but ordered from Leeds due to the fact they have higher allocation. By the way made a mistake my build is in November not delivery so not sure how long after that! Excited to see with what you go for next . Best of Luck!
Ah okay still JCT then. That’s good they let you do that! They have been good with me at Newcastle over my last 2 cars to be honest. That’s great not too long then! You and me both! I’m going to start taking a look properly now. I think the Porsche experience trip will help decide on what I’m thinking. All the best!
Great explanation and overall I think you made the right decision. Particularly as it doesn't look like a daily driver plus you have options now to get another car. Enjoy your Porsche experience in October! It's a cracking way to get the most out of yourself as a driver and to understand the car more than you would on the road 👍
Cheers Sam! I know you have been tracking the trade in prices on your Golf R too. It just reached a point of it being to hard to turn down. It was my daily car but I have the ability to borrow a spare car my parents aren't always using. Which I have done before. But it has given me a second bite at something else with the same money down. Bit crazy but a nice situation to be in. I am having a go in a car I am looking at when I go for that Porsche experience so hopefully see what it is like. They have no demos at the dealer!!
@@Get10Yards Good stuff! Yeah demo cars are really hard to find with the shortage.....cars are just selling themselves. Interested to find out what you go for 👍
Steve, your channel is amazing mate, and a big discovery for me today! I am moving back to the UK next year from Melbourne, and have dreamed since being a little lad of owning a 911, i am a 911 fanatic like you and i am 50 now and never owned one yet! This video is an inspiration and makes me realise it is not at all beyond my means to own one when i do go back home. Love the channel mate and will be spending a lot of time watching your clips. I might pick your brains for financing advice when i do come home. Cheers from Simon (Scottish Expat in Melbourne)
Hey Simon! Appreciate that feedback thank you! Feel free to ask anything you think I can answer. Trying my best to give any feedback I can for others who are looking for answers I might have already encountered.
Great informative video mate! How did you monthly’s come out at 462 a month with a 20k dep? That seems extremely low on a PCP
PCP finance structures have changed alot since I did my first one. The finance companies used to make you either put down a large amount of the value down up front or make you pay higher payments for the duration. Either way they were trying to manufacture a built in value so they could get you back to them with a built in deposit for a trade in for a new car. Keep you on the treadmill. I had that several times on new BMW’s. You always got better trade value going back to the same brand on your existing PCP deal.
But if you look the final payment on the car was around 2/3 of the cars value. If I had put down less and paid higher payments the part I was financing was going to be around the same value.
I think with Porsches they hold higher residual value on the second hand market outside the current strange market conditions. So they can finance it with a higher final payment knowing the cars value will be worth more than that hopefully by the end of the term. Meaning even if they have to recover the car during the finance due to default they will easily cover the outstanding finance value.
If you check out the finance examples on the Porsche website you can get an idea of how VW finance offers the finance on all the models. There is a calculator usually on the configurator but it is not there at the moment.
Well done Steven! A dream scenario indeed, and what's even more impressive is the fact it wasn't a Porsche GT division car ..and we all know what happens to values of those in the short to medium term. If you're looking elsewhere for that money.... Lotus Emira... nuff said
Even the sales guy at the Porsche dealer told me to do it. The way the market is at the moment is crazy. I thought I was doing well at 12 months with £78k for a trade price! Interesting suggestion, I saw the videos popping up on that on my home feed.
@@Get10Yards It's nuts indeed, however I don't think the market is going to settle back to the way it was. Cars are cheaper over here in the UK and there is likely to be a price adjustment upwards in the used market. I'm not the only one to say this. I have First edition Emira with the V6 on order. Although prices have not been released, the V6 will likely be around the £75-£80k mark. Huge difference on quality fit an finish seemingly as well.
@@cowanscott9047 you're likely right about it settling at a different point. I think new cars will come through for first buyers but it will be a little time before many cars hit the used won't it. Hard to predict, I never would have predicted what's happening now.
Ah okay that's interesting to know, I've only briefly seen details on it so far. It looks a nice car visually.
Great video. I’m trying to get an s allocation. It’s probably gonna be two years, used market is out of control. The patience game isn’t easy.
Yeah I knew 992 allocation were going to be impossible which is why I went for a 718 GTS when I knew how few were on order at my dealer. They told me at the time a 992 allocation was likely 12 months away at least. Obviously that was August 2021. Hopefully things get faster once the world sorts itself out again!
Well done !
You made the right decision; I thought of doing the same with mine. Hopefully you are ok with waiting a bit because if you get one now you will have to over pay, at least that's the climate here In the US. The car climate is not expected to normalize here until 2023
That was one of the things I really had to fight when I decided to sell, the worry of waiting for something else. But in the short term it also takes the finance off my shoulders so there was more upsides to do it than the downside of loosing the car. Yeah it could take a while for it all to sort itself out, I can't see me over paying for used or nearly new when I can get in the queue for new if I am not desperate. So we will see how that unfolds. I'll keep sharing it.
Overall a nice video, what surprises me is that the video quality could be better. At least 4k, for a Porsche topic. Take care
Been filming more in 4k recently after changing camera
Never bought a new car & never financed a car either but this was interesting nonetheless. Certainly an interesting time to be in your situation!!
It has been very interesting Mark. I have bought cars cash used but I have always financed new. Selling was a hard decision but looking around what to do next has been as hard!
Well done on getting your money back. Seems like you have 2 challenges now.
Used car prices are really high at the moment so you will pay more and you could see a big depreciation hit in the next few years. There are so little 20/21 "sports" cars around most of the trade I've spoken to dont see the used prices changing over the next year.
New 911 deliveries are taking longer than normal so you'll have a longer wait for a new car.
I had the same dilemma, speaking to my Porsche dealer they cannot get used 911/718gts/GT4 stock at the moment In fact they sounded keen to buy my car as soon as they could. Speaking with Aston and McLaren is the same story.
I opted for putting a £5K deposit down on a new high spec'd 911 GTS. While I ordered this close to the announcement I'm still going to have to wait until at least next spring for delivery.
That was my fear letting this car go Matt. What would I do next due to the market conditions. I did speak to the dealer about new cars/ available stock and got the same response too. But it was too good a gift to pull my money back and avoid some upcoming costs, I had to take the risk.
So yes I have options but what are they and when will they come up. I am thinking of putting a deposit down to be in the queue for something. If people drop out or they step up deliveries it may come quicker.
Whatever I go for new, whenever it arrives a bit like your GTS order, will hopefully see a good residual value on the market as build to order cars are slow to be released onto the second hand market.
It will be interesting to see what happens! Will also be interesting to see what I might be able to pick up used depending on what happens to the market on going.
So I came back to your rather excellent channel because I was sure it was your car I was looking at on auto trader. And sure enough you’ve sold it, crazy thing is the dealer is asking £96k for it! This market is bonkers but I guess that’s driven by new order deliveries for Carreras being end of 2022 per the OPC I was talking to a month or so ago.
Well so it is! I’m surprised they haven’t taken the plate off it! Haha well in comparison to the others on the market around the same price it’s not as high spec’d. They have given it a nice valet job haven’t they although it looks like they have painted the wheels. Good luck to them if they can get £96k for it. Thanks for telling me I wondered where it would end up!
@@Get10Yards I notice that 2 months on they still haven’t sold your car, things always get slower going into winter, but I just wonder if the market has topped out and prices might start to soften a bit. Dealers are relying on the supply side of the supply / demand equation but there does also have to be demand at those prices!
@@danielosborne6267I keep looking to see if it has gone yet or the price is reduced. Every time I do a search there is a Porsche used car with higher spec and a lower price which comes and goes while that still sits there. They are looking for too much on it. I think they are hoping eventually supply will dry up and they will get their price. But you have higher spec cars at lower prices coming up on Porsche dealer forecourts and as you say the wrong time of year weather wise. I will be surprised if anyone pays that. Maybe there are open to offers.
Great video and sensible decision 👏🏻
May be its time now to consider a Porsche that appreciates in value over time 🙌🏻
Thank you! Was a tough one to make but financially I think it was right to do. I am looking at my options. I may have to get on a waiting list for something sooner than later!
Took delivery of my 911 992 Carrera S in July 2020 £105k & have put 6500miles on it…we buy any car says £101,240 today…
That’s good news! Market still holding strong on demand from the trade. Webuyanycar must still have people trying to get their hands on stock waiting. I spoke to my dealer yesterday and they are sitting on 992s and GTS orders yet to get build allocations
You have my vote on the sound logic behind the sale. I did something similar with my 991.2 recently and am also debating what comes next. My calm mind says wait this frenzy out as there will be many CPO cars with low mileage waiting for owners in a year....but, if new is required, different strategy needed. Great series of videos, watching with interest.
It was a really difficult decision but I couldn't ignore the chance to jump out at that price after 18 months. Great to hear you managed to do something similar on your 991.2, the market at the moment for build to order cars is crazy. It will eventually return to normal though so it was a point to take advantage of wasn't it!
Indeed I feel exactly the same way. I have the chance to look around and see what else I want to do, it's going to be interesting checking out the options.
It makes more sense to me to buy used at the bottom of the depreciation cycle and just keep the car until you are too old to drive. Ideally, you have developed your passions and preferences per a brand and model of car by the time that you are ready to buy. To me, there is no more aversive place in the universe than a new car dealership. I deeply regret selling every car that I ever sold with only one exception.
I would agree with you on that thought like you say if you have found something you never want to part with. Unfortunately if you want the latest model of something you would need to wait a year or maybe 2-3 years to dodge the biggest part of the depreciation. I am not sure how quickly the world will return to that cycle as there is still a struggle to deliver new cars to the first owners.
I am a serial first owner suffering the depreciation that gives second owners a good long term car. I see cars as a hobby and something I enjoy. So I accept the cost loss that might come with it.
But yes I think new car dealerships is a little like walking into the casino. Somehow the house gets their money even when you think you've had a win.
I’m astonished how cheap the finance was. I’ve a budget of £20k and £700/month and thought I’d have to buy a much older 911.
Yeah I ended up balancing my finance that way and VW finance agreeing with it. It was 6.9% on the rate i think. It’s a high final payment so they earn interest on that every month as it never get paid down. So they are making good money on the lending against the car.
@@Get10Yards I’ve narrowed my choice down to a 991.2 GTS cos they hold there value or a .1 Turbo S. A 992 S maybe just out of reach.
I'm going through the same dilemma with my own 992 base. It's soo tempting, to go for the WBAC price offer and cash out...however to go back in again it will cost £££ too, or wait at least 2 years for a new one.
I had more or less accepted that that money could be gone when I bought the car. I never imagined that I would end up with that option. So it was a really hard choice. I never would have done it if I wasn’t getting all that down payment money back or I knew as long as I could wait I could order another new one.
My advice is buy a 911 to enjoy the driving experience and stop worrying about how much it's worth, how much you are losing in depreciation and when to sell. That said, my 996 went up $10k in 2 years but guess what, I really don't care because I will never sell my bulletproof kick ass car. Enjoy , live and love, stop with the $$$ and invest elsewhere!
@get10yards how does it feel a couple of months later? Still happy to have sold?
@@RichardDennys I would be lying to say I don't miss it. The list keeps growing for new ones at the dealer. I was told 2023 now for a new car unless people drop out. But money wise I still feel it was the right thing at the right time. I still have the money on the sidelines. What the dealer was saying to me though is they think the used prices will hold longer into 2022 due to lack of new production. So you will likely still see a hold in residual on yours for a while if they are right.
It depends on your situation , if you have another vehicle and time to wait for the market to reset then ok, you made money but your back were you started from no beautiful car! I own 2018 carrera 4 gts 10 ,000 miles. Same situation I could really do well, but I wont have a car! Went through to much to get this one! This is just my opinion! Good luck my friend!
That was a thought process I went through too. But it was my first experience into the 911 and I can always go back to it. I have the patience to wait for another new one. Plus I would like to try another car. Getting the money back to try something else without putting more money in was too good to turn down. If I had the GTS 4 like yourself I likely wouldn’t part with it as it’s much higher spec model. Hopefully I get there some day. So I see agree with your opinion there.
Excellent video, Thank you. Im just looking to buy a 911 but with no previous knowledge of 911 its a bit of a minefield at first what model do i go for what model variant and should i wait to see what happens to the market or put mu name down on a new car. Theres a lot to think about. Any advise you could offer is greatly appreciated . or maybe an idea for another video. Thank you looking forward to your next video. Any
Hey Paul! That is indeed a good idea for a video. I will keep that one in mind as part of my list looking at buying the next car.
I think in terms of which model I would first look at cost and finance. Like most car models the higher you go up in cost the more options included but are they options you want or need. Most options you pay for are added on to every model so there isn’t as much included for a cost saving. Unlike a BMW SE to a M sport trim for example.
So mostly you are buying extra performance with some extra interior options if you got to an S and then again more on the GTS. The GTS is the more performance focused end before you make the ultimate jump to the Turbos.
It depends what the car is for and what you want to
spend. I would happily buy a C2 again as it ticked all my boxes as a daily and it had all the performance I wanted for those weekend blasts. I couldn’t see that much of a performance difference once I got my car from the 4S I borrowed. I couldn’t push it any harder on the public roads. I also think the C2 was the first car I didn’t get the back end to stepping out on me or the traction light to coming on day to day. So going for the 4 wouldn’t worry me, where as in the past you only got the wide body look from the 4.
In terms of ordering a car I have been speaking to my dealer and they have said they are sitting on mostly S and GTS at their location. The factory has told them they are expecting to step up production to meet demand although semiconductors are still an issue.
Personally I wouldn’t over pay into the used market at the minute. I would get in the queue for a car but you could find yourself in a little wait. If you do that though you should be in line to see a 992.2 instead of the 992.1 which are available second hand.
It looks like they have announced the 994 for 2026 if I have read right.
If you can’t get a drive in a car you could always go to a Porsche experience centre and get an experience in the model you are thinking about. I am going to one the end of this month to see how i like a manual car as I have never been able to get a drive in one from the dealer.
@@Get10Yards Thank you for taking the trouble to reply. Very good information. I would like to get a second hand car really but im going to keep a close eye on the market . I was think for just daily use really. I seem to be drawn to a 991 or 991.2 4S or preferable GTS 4 . I really like the look of the Turbo but thought it might be best to start off with something else first and see if i like it. Your thoughts on my choices would be greatly appreciated.
I think if you are heading towards the previous 991 version I would definitely wait for the market to
calm down. I think the lack of used cars really pulled the values up on everything and you could be able to get more value for your money if you wait and dont over pay. As soon as people see their new 992’s delivered you mite see a few 991 models come
back to the market. Hopefully that will bring the prices back to where they were on a normal depreciation curve. That’s what everyone is hoping as its supply driven.
If you like the wide body look you will have to got to the higher models one the 991. The carrera 2 is still the slimmer looking rear end.
I dont think theres anything wrong with looking at the 991 model. If it was me I would be going higher spec on a used car under normal market conditions.
Normal expectations is that a low optioned GTS would hold better value in a curve than a high optioned C2 as the value is tied to the original base value of the car. Not the value of all the options added. Ive been told by even the dealer option the car the way you want but dont expect the value to hold based on the original cost including the options.
So you should be able to get a higher optioned car for better value used or aim for a higher model altogether. But I think just from looking at the market myself you may need to wait for sustained supply to
return before the used market settles again.
There is a 2 year wait for a 992 turbo I’ve been told so you might find 991 turbo prices dont pull back as much as the other cars when supply returns.
Its all speculation really, Ive just spoken to my dealer and read as much/watched other on youtube to see whats going on! Go with your gut I think. I’m still weighing up my next move.
@@Get10Yards Thank you very much for your reply. Best Wishes Paul
got the same thing, but with a base c class coupe. ended up all in monthly cost being less than leasing a corolla,
Yes I think you did the right thing as those residual values will slip as production returns to normal . If you order a new porsche you will have a long wait , mine is due this month ( but who knows ) but as it has been delayed month after month can I trust my dealer . . What about a second hand 992 turbo ?
You use it every day and I can tell you that very new high end sports cars can be used this way and retain value . Best of luck in your endeavours to find a replacement , you certainly helped me spec my 982 cab …. Well that’s if it ever arrives !
I’m sure it’s not as far away as you think. I was talking to the dealer before I sold my car and they said when the factory came back from holiday break they were gunna increase production. So fingers crossed for you!
I’m not sure if a turbo will be affordable for me at the minute. I know there is a 2 year waiting list for orders on the 992 models. So that might keep the residuals high on those if any do come to market.
I will get my name down on something so I’m at least in a queue. I will be having a good look and seeing what’s available in my range before I commit definitely.
I’m glad my videos have helped. There was absolutely nothing of any depth other than road test reviews when I ordered mine. Theres only so many press videos you can watch that say the same thing.
@@Get10Yards well thank you Steve your porsche 992 vids are the best for a few reasons : firstly it’s not about you ! Too many presenters on this channel
Are wannabe top gear presenters with little or no talent .
Your presentations are the same as a mate telling you over a beer his experience in owning a car , honest , straightforward no BS and above listenable!
So please keep up the good work and when mine does arrive I will let you know and see if my experiences are the same . Mind you might need your input into the pcm set up ! Btw found 4 other pcm videos and yours is head and shoulders above the others
I really appreciate that feedback thank you. I was really disappointed when I was ordering mine that there wasn’t any ownership feedback videos and the S has been out well over a year.
I’ve learned a lot trying to put together searchable videos and also making them in a way people can find them. So I’m glad you managed to come across them.
I didn’t want to come across like that so I’m glad I’ve got the videos over in the way you have viewed them.
The PCM on the 992 was far easier to work with the one I had in the 718. The bigger screen and the option to lay out the home screen makes things simpler. Remember if you get stuck there is a video series in the Porsche app on your phone and the handbook is also on the PCM itself which you can search.
If you are ever struggling you can always ping a message on instagram I can try and help.
Remember some things you are looking for will be in the scroll push button menu on the right screen of the dash. Oil level etc
glad it worked out for you - learning about finance myself, so few questions
1) so although all in your lost ~£5k which is amazing for a brand new car and 18month ownership...in reality it was quite lucky because that period of time was when used car prices went massively up, so you were expecting maybe ~£15k+ loss if the car market didnt do as well?
2) despite you having a 3 year finance pcp ? you can get out any time provided you meet that settlement figure right?
currently got a 997.2S which I bought non finance because of my worry with finance. Im looking at a turbo S next but again most likely will be used given wait time/I dont see used car market holding up.
Love porsche !
Hey, yes I did get out of that car on a used price high which was quite an unexpected event. So if that had not of happened I likely would have kept the car long term or at least till the PCP end.
Indeed, I had a spreadsheet trying to estimate best I could how much I would loose through depression and comparing as much as I could to the residual prices of 3 year old models. Based on it being a new car I was guessing in reality yes somewhere £15+ as 3 year old cars at the time were around the £65k ish region and I had £55 to pay off. Taking into account the car was £85k to start I thought worst I would end up with with maybe £10k in cash once the finance was cancelled down after 3 years.
So for me it was a no brainer to jump out at 18 months on what could have been a used car price height (could have kept it longer in hindsight).
Finance isn’t anything to be scared of I don’t think as long as you aren’t stretching yourself or you haven’t taken on a really high interest rate.
It’s a tough market at the moment as the used prices aren’t on normal trend and I’ve seen alot of people trying to call the turn and it hasn’t happened yet. So watch you don’t get caught out over paying and then end up with a finance ballon worth more than the car in 2 years if the market corrects.
All my opinions based on my experience. I’ve been stung before as you can’t guarantee a car value 2-3 years ahead it’s all market driven. Hope my info helps.
Sorry I missed the part about getting out early. Yes you can leave a PCP early. You just request a settlement figure and pay it off. If it’s new car you might find you wouldn’t have equity in the car enough to clear the amount until maybe the 2nd or 3rd year once the value catches up with the money owed due to depreciation. However Porsches usually do depreciate on a shallower curve and if the car is 5 years or younger the dealers are usually interested in buying it back. But as you saw with my video WBAC gave me the new for old price. The dealer couldn’t as they have to make a margin on the trade.
The difficulty is that you have to be prepared to wait a year for another brand new one, everyone is cashing in on Covid prices, but unable to source a new car. Well done with the sale though 👍🏻
Absolutely John. It was a difficult decision mainly based on knowing that. As people are cashing in I was unsure when this bubble will end so It was just too good to turn down. At least I know I can get a new one with the same money. Plus while I wait I am saving on the interest cost on the loan. Gives me more money to work with on the next car...hopefully.
Get10Yards makes sense. I traded my 981 GTS to Porsche for a brand new GT4 and got pumped on trade in in January, but it was part of the agreement to get a new PDK GT4. Could sell it now for overs but it's likely to be a long termer it's just so good at everything! 👍🏻
@@johnycarrera Ah fab! It's nice when things work out that way. They are selling a used GT4 over list in my dealer at the moment. It's an early manual car.
It sounds like a good car to keep long term anyway. Have you had a few cars or did they do you a favour with the allocation?
Get10Yards I've had 4 Porsches, but only bought my previous GTS from the supplying dealer. I've spoken to many new GT4 owners whom this is their first Porsche though. My local dealer Glasgow just laughed when I asked for one then 6 months later came chasing me to buy one, so for a time last year allocations were around. Probably harder now though due to the chip shortage! It's all about timing I guess
Smart move. With the used market so overheated, you’d be better off ordering something new if you are minded to - albeit with the risk of the greater depreciation you were expecting last time around, when they finally catch up production.
Totally that's the thing. I got out on a good deal here but likely back to normal on the next car I buy from new for the depreciation. I am okay with that though, I am willing to wait in the queue again. I have had the chance to roll the same money twice on finance.
@@Get10Yards yup. I wonder how long it will take Porsche to catch up with waiting lists. If delays continue, at some point they are going to run into 992.2 production in 2023, so any outstanding orders for non GT and non Turbo cars will be switched to the .2 variant.
Come to Houston tx where dealers are asking for 20k over sticker. So if you sold your porche and wanted to purchase a new one, you’d be paying more buying the new car.
they are still asking over here mostly from what I’ve seen since I sold. Anything in the dealers is still new for old or if it’s a GT is well over sticker on the newest models
I would look at a 718 Boxster GTS. I purchase a 2022, now on order for November, 2021 delivery. I ordered the 4.0L with PDK and almost every option in the configurator for a total of $117,460 USD which is 84,800 British Pounds. I paid for special paint Carmine Red, and all instrument dials plus chronometer in white and all carbon fiber interior including the multifunctional GT steering wheel in carbon fiber plus the shift lever. I ordered 18 way chalk white leather seats, both heated and cooled and adaptive cruise control, Navigation and Bose speakers.. To my mind, this is a great looking and driving car, and it is a 2022 model with the same 6 cylinder Boxer engine as in the 911. The mid engine placement is said to handle corners like driving on rails...What do you think?
I did really like 718 cayman I owned before. It was only the 2.0 but it was my first Porsche. Only sold it to finance a property purchase.
Sounds like a really nice high spec car Arnold! I do like that carmine red and would have loved the option to put it on my 992 originally.
The GTS 4.0 was described to me as a softer GT4 due to the engine now being shared. It’s something I’m looking hard at myself as a replacement.
Don’t understand why someone would buy a car to only keep it for 5 minutes , please don’t be offended but the time and energy you’ve put into analysing everything financial connected to the mind when the benefits for the soul just cruising these beautiful cars for me is absolutely priceless.
I did massively enjoy the car for a year and a half. It was my daily driver. I shouldn’t have been able to sell for what is was worth but I was. The intention was to sell and roll over into a brand new 992 but the wait was going to be far too long. If you watched the following videos you would see I’ve got a brand new GTS 718 coming as a replacement. That’s likely the car I will keep as the used car market will turn back to normal I expect. But a lot of people only keep these cars a year or two then order another. Bit difficult in the current climate though.
Was in a Porsche dealership 3 weeks ago, they are selling these used 992 ‘s for more than they sold for new!!
Supply of cars at the moment is very slow even coming back to the used market. Thing is though just because they are advertised for those prices doesn't mean someone will pay it. My car is being advertised by a trader £10k over value and over a month later it is still available. Very odd times!
I thought about selling my 992 for the same reasons you explain in the video but at the end of the day I just love the car too much to part with it. I wouldn’t be happy with anything else.
I think that's fair enough Frank. I really did love the car and I would order another one. I think the 2 factors for me was that I really expected to loose money on this car which I was okay with, but I decided to take this chance to recycle the money on another car. The other being if I were to keep the car long term if I just order a new one, I would maybe add some options on and change the colour. Not quite ready to buy and keep a car yet though. Still looking at my options.
I’m selling mine too! I can’t believe that i paid over MSRP 20k mark up.
Fascinating, Steve. I am trading my 4.5 year old 911 C4S Cab, which I have owned for almost three years, for an 18 month old 911 C4 Cab with 3,000 miles on the clock and a 3 year warranty next Friday. I was offered close to what i paid for my car, which means I need to contribute less than £5k and pay around £100 pcm more on the finance for a fantastically specced almost new car. Sure, I'm dropping 35 bhp, but I don't think I'm going to miss it. Naturally I'll get hit for depreciation at some point when things begin to normalise, but for now I can live with that. Nice presentation... I've subscribed.
Sounds good Richard, I think you will be very happy with your move and I doubt you will notice the slight drop in HP. I hope you get much enjoyment from it once you take delivery! Thanks for subscribing too!
I have to wonder if you have ever had the S Carrera model and what you feel about that level 911...
I have only lent a 4S in the 992 for a day from the dealer. It was the fully loaded demonstrator so from a what's included option wise for the price it was hard to tell. I have looked at that in another video and if you are adding most of the options included in the base price it is cheaper to buy the S model as a package as you would expect.
When it comes to the extra power and unseen performance parts. They no doubt have an impact when on a track or timed runs etc. But from a day to day road driving experience. You will only notice a difference in a straight line for the 3 plus seconds to 62mph. The c2 is up to a performance level now that I don't think for daily driving you need to go higher. In previous generations I would have agreed if you have the money jump to the S.
I have been in the 992 Turbo S at the experience centre and on the short track it just felt like I was driving the C2. The only difference to me came on the straights on the area they test the launch control.
But that's my personal opinion and obviously if money was absolutely no object I would get the best model I wanted. If it's a case of stretching to jump up from a C2 to an S I would be more than satisfied with the C2.
Hello great insight. I need some advice please, I’m looking to get a new car (used version) tempted by a 911 and in particular a 992. Currently looking at a car around 2019-20 to get cheapest price. Would you recommend buying one now? Also how would you best advise going about purchasing in terms of paying for it. Finance? Bank loan?
Thanks
To be honest I am not the best person to ask about that. But from what I am seeing with my 718 GTS at the moment second hand it may still be too early. They are still charging high prices used but paying far less on buying back. Other people on UA-cam that analyse the used market expected the used market to drop. So I am unsure if will go further or not, the 911 is going hybrid so no idea how that will affect older cars. If you are going to keep it for a long time then I’m not sure market prices dropping would be a huge issue for you. Only if you wanted to keep it a year or two then move on.
In terms of finance dealers if you go to Porsche don’t do favourable rates so you may be better off getting finance through a bank or broker for lower interest rates. But check it out with the dealer and check the market. The comparison sites as a start will give you a good indication on the percentage available from lenders. But special high end car finance brokers may be worth a call.
@@Get10Yards so in terms of your 992 that you had, any chance I could chat to you regarding finance routes and your advice on the car. Have you got an email I can get you on? Thanks
I never explored finance outside of the VW offered new car option at the dealer. So unfortunately I cant really point you to anything else. What I have suggested is just the options I would look at myself if I were to look down the used route. In terms of the car buying it used I would just look for something with the most included options that were paid for at the time. Depreciation on cars usually follows the base value of the car not it’s paid extras. So my only thoughts I could offer there is don’t over pay for a lower additional optioned car. Unfortunately my cars have always been new, so I don’t have a lot of experience finding and buying used.
@@Get10Yards so in terms of buying new, what did you give as a deposit and what were your monthlies?
I put these all on videos actually you can find them on the finance play lists. Gives all the figures for both finance on the 718 and 992 in different videos
A no-brainer to sell!
One thing that puzzles me is why used 911s often command prices higher than the MSRP of a new one. Granted the used one may be loaded with many (expensive options), but if any of those options are not what you might consider to order yourself should you buy the car new, then they are worthless.
Wouldn't it be better just to order a new car and buy just the options that you need? After all, the wait list for most 911s isn't long (unless you want one of the GT models). New car has everything new - tires, brakes, engine, a full new car warranty, and most important of all, bragging rights to owning a new car.
I think it must depend on where you are. Right now they are holding prices of new or higher for slightly used because they aren’t producing new ones as fast as before. Parts and shutdowns are meaning people aren’t getting allocated build slots quickly. Usually you see a depreciation downwards when you can order a new one in a few months.
Pre pandemic I wouldn’t have sold like this because I would absolutely have lost money in depreciation.
Just sold my Macan S for £3k less than I bought it for 18 months ago… ended up costing £8k only for the 18 months or £450 a month all in. Never needed a service or brakes/tyres and sold with 14k miles. Cost of leasing one including initial rental would have been double that!
Now bought a 992 Carerra 2 new (waiting a few months for delivery), but fully specced to £100k… wonder if it will hold value like the one on this video with all the extra options 🤷🏽♂️
I think that will depend on the ongoing conditions of the Market Ash. They have been selling any 992 stock coming back on the market new price for old car. If people are taking delivery and not returning cars to the market for some time, you might find the price still rides higher than normal. It would make sense because that is what is happening now.
Porsche aren't going to flood the market with cars as they are built to order. So if owners hold onto their cars fingers crossed for you the residual values stay high for a while yet.
Thanks for sharing you sale details on the Macan. You did do better on that than if you had contracted on rental absolutely.
Thanks for the response and info… actually just realised I was incorrect , as we actually only sold it for £1.5k less than the original price 18 months ago when you minus the road tax 👍👍
@@ashchoudhury4057 Ah wow that's even better!
@@shelloiluk 10k for diesel-gate. Good one. You’ll be lucky to see 10% of that amount
Not having to worry about depreciation is the only way to truly enjoy these cars. I have a car worth half the price, that I can enjoy everyday worry free, in the knowledge I can afford to service it, buy tyres for it and swallow the depreciation etc. Don’t be a slave to a car….there’s more to life.
Yes sadly car ownership in most cases is just an ongoing cost isn’t it. Escaping depreciation is usually confined to special editions or future classics I guess. A lot of people see cars as a hobby or something they get enjoyment from so spending or loosing money on it is worth it. Just like any other hobby I suppose it depends on how expensive it is to do.
I bought my third 911, a 993 carrera ‘94 in 1998 and drove it for 21years….. because I loved it and not for “the money”. Exchanged it in 2020 for a nice low km 911S 2005, and enjoy this one for 100%… again not for the money.
Everyone does things differently. I didn't do it for the money either. I didn't make any selling, it still cost me. Just not in depreciation. It has afforded me the ability to order another car and change the spec if I wish. Then I maybe will keep the next car long term. I had planned to keep this one as I never thought it be an option to do what I did. But I would also like to try another car or another model. Everyone is different. I am just sharing my experience for others who are maybe thinking about doing the same.
Logic and reason would have led me to same decision. 👍🏽
Thanks! It was just too hard to ignore the numbers once I got past the emotional aspect
You have been lucky.The problem with these finance deals is the rip off interest rates.Usually around 6.9%.The finance company make more margin than the dealers.iF YOU ARE NOT CAREFUL YOU CAN EASILY END UP £10k upside down,to coin a "dealer" phrase....
Yep I have done in the past with mass production cars. It isn't even so much the interest on the loan so much as a change in the cars value on the market. The dealers or even just the brand have no idea what your car will be worth in 2 or 3 years time. The final payment on the loan as long as it is guaranteed is the only assurance you have to limit your loss of money. In which case you have effectively rented the car for the period of the payments. If it's worth less after halfway of finance value or at the end of the agreement you just chuck the keys back.
Never go into a car thinking you aren't going to loose money, I have just been lucky with what I have done which is why I did it. I expect business as usual on the next car.
Buy an investment I8 Roadster only 250 made in RHD - they were £137k new but discounted 35% to £75k in 2019 now cheapest £90k second hand (they will appreciate like the M1 E26, E30 M3 or Z8 {also discounted 35% in 2002} as they are properly rare) and they'll be £250K in 25 yrs !
Do you think? I was under the impression that the i8 batteries were a fortune to change out on that car. I didn’t realise they made that few roadsters compared to the coupe.
@@Get10Yards I do indeed - I only buy investment cars eg M1 E26, NSX, 968cs, 996.1 GT3 (was in EVO mag' in 2000 in Sicily), SLS etc and this will be a shoe-in investment. Battery cost will be about £4-5k but will last a good 8-10 yrs easily minimum. The servicing is very cheap too. So certain of it am I I bought one for £78,500 in Feb 20. It's also a great road car lots of torque and 4 wheel drive vectoring is great... I find myself in it a lot - but trying to keep miles off. All the you tube haters have not driven one and many just waste cash on flash depreciating cars. Be quick if you do though they were an av. of 20 roadsters on auto trader in spring now it's just 5 or 6 so they are getting tucked away by likes of me.
You never received a discount off msrp on your car? My car lists for $153k & I got 6% off. Which is reasonable given the normal pre-covid market.
On a new model ordering from scratch for delivery I haven't been able to get a discount on a car in the UK unless they have been trying to move stock. When I have bough a new car that was dealer stock sometimes I have been able to get a discount as they want to move it.
Did you order your car or was it dealer new stock? You pay a high tax on the cars don't you? Do they give you a little off the list price because of that?
@@Get10Yards I’m in California. High tax for sure. So maybe that’s the case. I ordered mine from the factory. Took about 3 months.
You made the right choice mate. I would recommend getting a Taycan 4S. They will probably also rise in price due to the high demand for EV’s in the future. Great Futute proof car.
I really would go with a Taycan but I’ve no way to charge it at home! Stupid apartment block and no way of getting a charging point. I need to move before I go for an electric of any type. Sadly I would have to do one or the other. So sticking to getting another car first. It’s a shame as I think the Taycan qualifies for tax relief as a business car. Think the waiting list for new is quite long too.
It's about emotions, try a 987 Spyder or R - both better than any non GT 911, my second choice would be 981 Spyder or GT4, not as emotional on regular street driving, better on track obviously and quite more expensive, 718 GTS needs exhaust work, otherwise I pick a 981 Spyder, if you want that 911 to feel better than these cars you need to go GTS to the least, but most of these cars break way above a 100k USD price.
Yep that’s the issue for me really. I’ve already been looking around. Anything I would like to go for is a little out of reach financially as a jump up at the moment. Plus I still need it as a daily as I can only have one car. Tough decision ahead. There is not much around at the base C2 price point to replicate on finance.
@@Get10Yards Right, you are in an amazing price slot, I may have underestimated it due to pounds to dollars calculation. I wouldn't think a second on the car that would make me happy, living in Great Britain it would be the 718 GT4 in the right spec, spend what's left of the exhaust. The only better car is the 992 GTS for over 100k British pounds. I also daily my Porsche like it was a Civic.
I can’t believe the 911 is so cheap in UK. In Australia the minimum cost is AUD 270 K on road. Yes we have LCT but it doesn’t make sense the price in UK is almost half of that of Australia.
I can't believe how much extra tax you pay. I took a look at how much my car costs in different regions in another video. Seems like Thailand and Argentina have a similar import tax added too. Not all countries get the same basic included options either for the cost
@@Get10Yards Govt imposes 33% of the car value if it exceeds more than 70K threshold. I suspect Porsche Australia takes higher margin than elsewhere. Even so the 300K+ car is so popular that the waiting list is longer than a year.
Btw your calculation shows the true cost to own a car. I wondered if you could add the insurance and the fuel cost, too?
@@EastWood2004 I was speaking to the dealer last week about the 992 queue and they even told me here now that they are telling new customers putting down deposits it will be 2023 before they see a car. I think there a lot of orders sitting with no build allocation right now and they have still got lead time issues with parts to the factory.
@@EastWood2004 I have actually broken all the running costs down in another video covering the first years ownership and how much the fuel cost me against the mileage I covered. In terms of the insurance it was costing me £800 a year due to my city centre location. Others have commented around £500 who are in a higher age range than me and also less risky areas. In the UK a lot of people seem to get better prices from Admiral as an insurance broker. Not sure if there is a go to or specialist insurance company in your part of the world that might be worth checking against. The comparison websites usually throw up competitive companies, I have search against all types of cars in my most recent video.
defo get the gts !!!!
Really is up there at the top of the list. Keep checking with the dealer to see if allocations are being given out for the list of people already waiting for both the 992's and 718's
Hi I want to order a base 992. That is going to be my only car for the next 3-4 years. What do you think can j use rear seats for my 3-4 years old babies. My height is 171cm.
I do know that you have the ISO fix points on the front passenger seat as well if you are using a child seat just for reference.
But I think if it was rear facing I am not too far off your height so I sat with the drivers seat quite far back. There wasn't much leg room as an adult but I fit other than head height. There is an interior video on the channel showing that if you want to take a look.
I have seen other people happily driving along in social media posts with 2 young children sitting in the rear seats with no child seat.
@@Get10Yards Thanks a lot.
I will update when i receive mine.
Big mistake. Second hand 992 closer to original cost these days😭
Time to think about ASTON MARTIN VANTAGE :)
Interesting. Bit of a jump in price for me though. My mate actually got a 24 month contract on one when I original bought this. When they were struggling and it cost what I put down on this. Not sure how things are now with deals or not.
How much I profited selling my 992 2022!,
Well I didn’t profit. I just owned it cheaper than I should have under normal circumstances
I really really like to know why a video of this nature could get thumb's down? is he misinforming them? is he offending them? Does he look bad?
Appreciate that comment thank you! I guess it was because I sold or they just didn’t like the video.
Somone offered me double for what I paid for my 2022 Targa . Dealer says 2 1/2 to 3 years to get one now !!
Wow I know the list was building up at my dealer. Was that just 992 models in general? Do they make less numbers in Targas? I’ve never asked about those.
@@Get10Yards mostly 9911’s
My mind is blown
Please look at both the Morgan Plus Six & the Lotus Emira!!
I knew about the Lotus. I will take a look at the Morgan
Good choice, put the money in the bank.
thanks I wish the bank interest was better at the moment!
You put successfully some money in your pocket which is good, and by now you can buy something like BMW M8 in the meantime until 911 drop price again!
I’ve seen a few of those M8 coupe now and I do actually quite like them. Not sure how well they will do value wise later on. I’ve had bad money loosing experiences with my BMW’s. That’s the only thing that frightens me off M cars
@@Get10Yards good point!
I think you did a great job. A very nice deal. Admittedly I always thought the 992 looks are quite bulbous and unattractive.
thanks I appreciate the feedback. It was a difficult decision but as a business thing I thought it was the right move. I’ll admit I wasn’t actually sold on the new light bar rear end on it. But that kinda grew on me. I always loved the more flared rear arches and wider back end on the older C4S cars so that was kind of a plus for me. I think everyone has the favourite generation of 911 though.
Why buy the car in the first place??
I bought it because I wanted to own one. I accepted I would spend that money and never expected it back. I can purchase a new one with full warranty and change the spec now if I want to. That’s what’s happened due to the current market conditions. That wouldn’t normally be the case.
Lucky man 👨
If you have the money 💰
Thanks! I never expected the market conditions to be the way they are. Still trying to decide to order another or change to something else.
I have a 991 turbo s 2016 20k miles on it, how much you think I can get for it as s trae in ? 🙏
no idea really. you need to put the registration into some of the trade for cash websites like webuyanycar and get a free valuation. I suggest doing 2 or 3 of them to see who is offering the most because it can vary depending on if they have demand. If you have that type of model I suggest going to the Porsche dealer or ringing for a trade in price. 992 turbos at the moment are being quoted a 2 year wait new.
@@Get10Yards thanks
i just sold my 2019 for six thousand more then I paid for it...
market still staying strong then! That’s great
5,000 pounds to rent a brand new 911 for 18 months. Hell of a deal.
Yeh it actually cost me less than the 718 2.0 I owned for year before it as an ex demo. The used market is still seemingly over priced
@@Get10Yards do you have the rough figure of how that 718 went for you, cost wise over that period? obviously the used car market wasnt as hot then
Everyone seems to be forgetting he has No Car now. If he was a sports car fan, especially a Porsche fan; he should have been enjoying his Porsche and dealing with selling when he has a new car coming in. Yes, he owned it for almost nothing, but now he has nothing.
Indeed that is true I have no 911 now and that is a con. I do have the use of another car now. It was the first 911 I have owned and I didn't spec it very highly. I have managed to come out of it costing very little after 18 months. I would have expected under normal conditions to have been down interest costs and depreciation. I may have not had the money to refinance or order a new car at 3 years. I have taken advantage of selling in an abnormal used market to recover nearly all my money in and choose to reorder another car in a different spec or to try another model. I will not have to put more money down into the deal. I like to try out new models and I only want to own one car. I may just order another 911 and spec it higher and keep it long term.
Just a word to everybody: nobody 'owns' a car on finance. Beware! The car belongs to the finance company (lender) and basically you are a debtor and you will go down on credit score companies as such and it will eat into the overall finance cake the market has available for you to borrow. Don't fool yourself. There is also another aspect of this 'rent gen' attitude and I am neither a critic or a supporter of the same as it is personal but a consequence is that one will never own anything, one will have limitations to mods (living limited..., one will have their hands in handcuffs on how much mileage one is allowed to do to avoid penalties (living restricted) and one is forced to keep the car pristine (living worried) otherwise the lender will bite you hard. On a different token: how you managed to buy a new Porsche without almost any options nobody will never know...
That’s true it belongs to the finance company. But plenty of people make changes to the cars as either they correct the car before giving it back or purchase the car at the end of the term. They shouldn’t do things to the car under the terms but plenty people do. They just get told to make the car correct before giving it back or get charged.
I didn’t add a lot of options because it already came with everything I needed as part of the base price. I bought the car for me not optioned for the next buyer.
Go with GTS 4.0!
I am very interested in it over ordering another 992!
Damn, update if you miss it.
I do miss it already Kevan! I really wrestled with it. But financially it was a good choice for me at the moment. The market it crazy. I’m going to check out a couple of cars and go to the porsche experience centre to check out some other models. If I don’t find anything else I want I’ll go back in and queue for a another new one.
@@Get10Yards I just an not part with mine, I love it. What would I consider to replace it. My wife has said a definite no to a California, I would consider a GT4, but again, she has said no. Are you getting the picture? Hen pecked! It is such an iconic and easy car, I agree with your choice of a Carrera, I don't need any more, but if I could afford a Turbo S? Guess who has told me that I cannot afford one of them?
Perhaps you will appear here in a months time with a sad face. Wishing you had not done the deal. Or perhaps smiling showing off a new motor. I have enjoyed your updates.
Ah see I had the opposite from my partner. She didn’t want me to sell it. She liked it too much. In fact she would encourage me to get something faster or higher spec etc. So there will be something else filling the parking space just a question of what and when. In the mean time I’m stuck with a runabout. I’ve made my bed so I’ll have to lie in it. But there is always the excitement of something new to look forward to again. I do enjoy the car shopping experience.
@@Get10Yards My wife loves the 911, she just dislikes the others.
This video would be better titled.....I didn't have anywhere close to the income needed to support a car purchase of this size.
They wouldn’t have given me the finance for the car if my income didn’t support paying them back
great colour interior not colour of car terrible in summer
If I had that 911, you'd have to pry it from my cold dead hands. I see no reason to get something you worked for and finally got to just turn around and get rid of it for a few extra pounds.
I've had a lot of cars, American, in my life and a few German cars like mercedes and a BMW, but a 911 would be the ultimate in my mind and I'd want to be buried in it.
I'll have to stick with my e320 now since I'm well into my 70s and not near wealthy enough for a Porsche.
Get another one and then keep it till there is no petrol left on the planet.
It was the intention to replace it with a brand new one but the waiting list due to the shortages was far too long a wait. I have a new 718 GTS Cayman about to be built at the factory which I ordered after selling.
The bubble has burst.
The market bubble?
@@Get10Yards
The money bubble. We are long term deflationary now, and will gain bearish momentum for about three decades with several year bull market countertrends.
All that for 3k? Definitely not worth it when you consider the cost of getting back into one. You're essentially driving a 911 for a year free and then trading down to a 718... Obviously you didn't appreciate the 911 despite the market telling you otherwise 🤦♂️
The cost of a new one to replace it would be the same finance again and would be a new agreement on a new car for 3 years.
I drove it for free nearly up to that point but suffered some loss due to the finance interest. If the car was paid cash and I had no finance against it then it was worth continuing to drive. But every month afterwards the interest was still due on the loan and the value of the trade in I believed at the time had topped out at the list value of a new car.
So I was at a pivot point when it came taking back the max value of money back I though I would have lost and rolling it into a new car 911 or otherwise that wouldn’t have tyres or a service due in the next 6 months.
I appreciated the car and enjoyed it very much. If it had been under normal market conditions I would have ran it till the finance was due and then made a decision based on value how to carry on.
993 turbo. Make a profit
Maybe. Interesting suggestion
I wish we, in the Netherlands, had the same prices for cars as you have in the UK! A new 992 turbo-s for example cost 100K more here . 😟🙁
Our government is made up of robbers.
Import tax in some regions is really high isn’t it and it doesn’t seem fair. In terms of locally build cars that you don’t pay extra taxes on what are your choices in the Netherlands?
Order the new 992 GTS!
I would if I could manage the jump in finance. From my conversation at the dealer there is already a long order waiting list. Could be a while before a build allocation would be available.
I ordered one a while ago and it should hit around the turn of the year, if it’s into the new reg then that would be great too. I still think that the GTS is the sweet spot of the range for Porsche, this will be my third. The 4.0 Boxster/Cayman GTS is defo worth a look too
@@Bigleefish Nice! My GTS4 Cab is getting built December 15th looking forward to it
@@kriscurran3319 waiting for a build date for mine !
Makes no sense to me. Cars are not meant to be appreciating assets. You buy a car, you enjoy driving it, that's the whole point. Now you've deprived yourself of a car you enjoy for a small profit and are trying to time the market. This is the mark of someone who really can't afford the car to begin with. I know that there will be blowback from my comments but this is just ridiculous reasoning.
I did enjoy it for 18 months. I exited the car knowing I had service costs etc upcoming that would cost me money as I explained. By exiting the car at a point where I lost as little money as possible I can roll it into another car. Exactly the same spec if I wanted and start finance again at the same monthly rate. Mainly because I can afford it and have also recovered all the money I used to finance it the first time.
No service to pay again for 2 years, no new tyres, full new warranty, new Porsche PCM services term.
I get a whole new car and the services attached for no new outlay of money. Just a roll over of the funds I have recovered.
On a normal day I would have been maybe £20k down in finance interest and car devaluation. I likely would have traded this car in before the end of the 3 year finance term anyway for the same car or something else. At that point I wouldn't have seen any of this money I have recovered and would have needed to add more funds.
It is smart management of a depreciating asset that due to market conditions has actually held it's value. You would usually only see this type of situation from a special edition or a limited numbers classic as an example. People drive these types of cars for a year or two and then move them on to experience something else with limited loss. I have managed that due to market conditions in a Porsche 911 C2 base model.
The arse has completely fallen out of the arse of all cars, watches and houses, I'm glad I didn't order one now.
Yes the market has turned now definitely on the car market be interesting to see what happens and where it settles. Still struggling to deliver new but it seems that will be okay with the used turning up stock again.
Get an F-type.....or gt4.
I really do like the F Type
Seeems like a lot of hard work to me .....lol😬
the trading and ordering again? If it had never reached the new price as trade deal I wouldn’t have sold it. Working out what to do now has turned into more looking around than I thought though lol
41 k views and has a Porsche. Wtf
Not really sure what you mean by that. The channel just follows my feedback of owning the car. I bought it before I ever made any content.
@@Get10Yards I thought you were another over paid youtuber my bad
Didn’t factor insurance, gas, and PPF, ceramic, tint or costs like that. But I say that was not a great deal. People are walking from 992s and essentially owning the car for 18 months, no cost to drive it for 8000 miles and you paid 5,500 British pounds. Maybe because it was a base Carrera with paint damage…?
Insurance & fuel is a running cost that doesn't effect the depreciation of the car. They are equal to it's use and greatly depend on the user rather than the car itself in most cases. They are both variables.
I didn't get PPF, ceramic or tint.
Most of that 5,500 British pounds was interest on the finance over the 18 months and road tax. I lost no depreciation on the car. All explained in the video.
Too much to lose from new after a year of ownership.
You sold it because you could not really afford the car.
I’m sure you’re right considering I’m just about to receive a 718 GTS 4.0. Porsche must not check I can afford the cars….
@@Get10Yards I have one of those a 2022 shark blue GTS Boxster - a lot more fun to drive than my 2021 Targa 4 - but the 992 is definitely more comfortable.
But the 718 is not a 911 - it will be interesting to hear your opinion of the 718 Versus the 911. I could not decide so I bought one of each. If your 6’ + - definitely pick the 911 if you are going to do long road trips. Enjoy your new car…. I also have a 2022 Gt4 - unless you are a track guy - it is too loud, rough riding for a daily car but it looks cool. I still think the base 911 is the bargain model that is more than enough for 95% of guys.