Need advice on mistake I made

[DWBOX2000]

I recently bought a 2002 996 4S (guards red). I bought in July 2019. Car had 69k on it, passed the PPI with flying colors. Paid $25k. I immediately did a LN Retrofit and clutch as a precaution. Enjoyed driving it last summer. Over the winter I replaced the coolant tank and water pump and at the beginning of the season had the front differential seals replaced and some other stuff. Anyways, now I am in around 30k and just passed 72k.

Well something strange happened over the winter, I just fell out of love with the whole fast car thing. I find myself enjoying my 08 VW rabbit (daily commuter)more as well as a 01 Miata I bought for my son. I believe it is twofold. 1st, I do a lot of local driving with it and I really never need to get out of second gear. What I do in second gear in the 996 I am probably going back and forth between second and forth in the other two. Feel like I am driving an automatic. It's not a 996 issue, it's a modern day fast car issue IMO. Car only has 320hp, can't imaging the guys with 400+. Must get super annoying. My other issue it the cost. As I am getting older, I am thinking there are probably better things I could be spending my money on then a car that I typically drive around by myself in. Wife and kids could care less and there is not much Porsche car stuff around here. I am not a racer type, a more car and coffee type. I like to drive around, talk, tell or hear a joke and eat.

So I am trying to minimize the damage here.

Do I sell today and likely take a 5k hit but avoid future expenses? Really $7k with sales tax.
Do I just put away and try to sell in a few years hoping the market has gone up a little? Believe it or not, people like these 996 4S's.
Drive it and sell for 20k when I get around 80-85k? Cross my fingers that nothing big happens along the way. Not worried about IMSB or chunking honestly.
Other?

I am just stumped and since a lot of you guys are much brighter than I, figured I would ask.

[sc_rufctr]

Sell it now and take the hit.

Your other options will be more expensive in the long run.

[biosurfer1]

Best advice I received on stocks applies here: If you wouldn't buy it today, why would you own it today?

[Zeke]

Insurance is going to eat away at your potential loss making it bigger. You don't have to sell so don't sell until you find a buyer willing to pay a decent price.

Just like you, there is someone that really wants a red 996 4S and is going to be overjoyed when he finds you and a car in great condition with low miles.

Advertise aggressively world wide. I can't help you with that but there must be a way to do the advertising w/o spending 1000'$.

[DWBOX2000]

Maybe I try that. I can advertise at 30k and see where that gets me. I think free on the PCA website as a member.

Being my third Porsche, I know there is a purchase price and usually a price to get the car up to snuff. Maybe could have paid less but the red pulled me in. I guess some buyers will know the majority has been done on this car in the last year and maybe pay a little more for that stuff.

Now to talk to the wife. This should be interesting.

Thanks guys.

[madcorgi]

I agree with the advice to sell it.
You seem to have discovered the joys of a car that is slow enough to be fun. I have encountered the same phenomenon. My "modern" 400+ hp daily driver never gets to stretch its legs, whereas my old, slow 1985 911 feels exciting even at legal speeds.

[recycled sixtie]

I think patience is key here. I have recently sold my 2013 NC Miata prht. It took me a full year to sell it. I was holding out for a decent price and sold it privately. I could have traded it in for a lot less $$ but did not want that.

You know how much you are in to it in terms of $$. I would list it in say Autotrader for a few thousand more than you could realistically get for it and negotiate from there. There is nothing wrong with contacting a Porsche club and advertising it there. I was a member of a Miata group and sold it privately through a newsletter ad and word of mouth.

You may miss it when you sell it and hopefully not so much as you are not driving it much now.

Cheers, Guy

[DFW_IE]

Those 996 4S sure look sweet. Unlike many, I think the 2002+ 996s look pretty cool.

Sell it. Everything that comes along with a car adds up. I have more fun driving my 1971 Fiat 500 than modern cars- it has 17hp and a transmission with no synchros. 50mph seems like I’m reentering orbit.

[GH85Carrera]

"Only 320" hp.

I have an 85 911 with just 200 factory HP that I have owned to 25 years. Love it.

My first suggestion depending on where you live is find some good driving roads. Find the local PCA Region, see if they have an autocross or DE coming up.

If you are just tired of the 911 and selling it your real goal, sell it now and don't go below 30K for the first few months. If you have to sell it at a loss, well that happens to the vast majority of personal car sales. Insurance and other costs will just add to the loss. Let someone that loves it have it for a fair price.

[Cajundaddy]

Once you decide it no longer suits your lifestyle, there is no reason to keep it and *hope* for appreciation later. Get it super clean and polished, take amazing pics, advertise everywhere, and wait for the right buyer who is serious and has the cash.

I was the victim of buying too much truck last year and as I drove it around I liked it less and less. I cleaned it well, took nice pics, and put it up for sale in 1/2 dozen markets. It took 30 days but after a bunch of bogus sight-unseen lowball offers the right buyer came along, loved the truck, paid full price, and off he went. I gave up $5k between buy/sell but drove it for full year so that is probably normal depreciation.

[asphaltgambler]

Good advice above; as what ever the value is currently to you or the money put into it, you're ready for a change. What ever is the final price to you when you sell, subtract the total cost of ownership then divide the time and miles spent = "Smiles investment"

I have been in the hobby all my life - certainly have spent waaay more, netted waaay less. But looking back at the time, I had the money, that's what I wanted to enjoy - it's the experience.

[Geronimo '74]

It feels wrong to advise someone to sell a 911, but if you’re not feeling it anymore, selling now is the best option IMO.
Hoping for prices to evolve up, without knowing they will within a reasonable timespan, is a bit of a gamble. I am not an expert in current market prices and trends, but with the economic hit the corona crisis brings, I don’t expect prices to skyrocket anytime soon. Again, this is speculation on my part.
If you have no emotional ties to the car, selling it should not be too hard.
996 C4S is a very nice car but it is not super rare nor a limited production car like a GT3 RS.
And if you ever change your mind about owning a Porsche again, buy one then.

[Geronimo '74]

Originally Posted by DFW_IE

Those 996 4S sure look sweet. Unlike many, I think the 2002+ 996s look pretty cool.

Sell it. Everything that comes along with a car adds up. I have more fun driving my 1971 Fiat 500 than modern cars- it has 17hp and a transmission with no synchros. 50mph seems like I’m reentering orbit.

+1!
Even the pré 2002 model with the eggy headlights are starting to grow on me.
And they were ugly when they came out, damn.

Like reentering orbit
That’s funny right there

[DWBOX2000]

320hp is nothing to sneeze at. It's ways more than I am capable of driving for sure.

Nope, not a GT3R.

Thanks everyone. Clean and sell is likely the way to go. Maybe a trade for a slower car of equal value might work too. Someone looking for more speed and more comforts. I guess time is on my side.

Thanks again. This was very helpful.

[DWBOX2000]

See, not too shabby with a fully leather optioned car. Hopefully this works.

[vash]

Originally Posted by DWBOX2000

I recently bought a 2002 996 4S (guards red). I bought in July 2019. Car had 69k on it, passed the PPI with flying colors. Paid $25k. I immediately did a LN Retrofit and clutch as a precaution. Enjoyed driving it last summer. Over the winter I replaced the coolant tank and water pump and at the beginning of the season had the front differential seals replaced and some other stuff. Anyways, now I am in around 30k and just passed 72k.

Well something strange happened over the winter, I just fell out of love with the whole fast car thing. I find myself enjoying my 08 VW rabbit (daily commuter)more as well as a 01 Miata I bought for my son. I believe it is twofold. 1st, I do a lot of local driving with it and I really never need to get out of second gear. What I do in second gear in the 996 I am probably going back and forth between second and forth in the other two. Feel like I am driving an automatic. It's not a 996 issue, it's a modern day fast car issue IMO. Car only has 320hp, can't imaging the guys with 400+. Must get super annoying. My other issue it the cost. As I am getting older, I am thinking there are probably better things I could be spending my money on then a car that I typically drive around by myself in. Wife and kids could care less and there is not much Porsche car stuff around here. I am not a racer type, a more car and coffee type. I like to drive around, talk, tell or hear a joke and eat.

So I am trying to minimize the damage here.

Do I sell today and likely take a 5k hit but avoid future expenses? Really $7k with sales tax.
Do I just put away and try to sell in a few years hoping the market has gone up a little? Believe it or not, people like these 996 4S's.
Drive it and sell for 20k when I get around 80-85k? Cross my fingers that nothing big happens along the way. Not worried about IMSB or chunking honestly.
Other?

I am just stumped and since a lot of you guys are much brighter than I, figured I would ask.

we were clearly seperated at birth. that move is my MO. i just did the same thing. different vehicle. took a hit, in the cash dept. did it sting? yea, but i'm over it.

the old dude down the block told me. "dont make it worse" hhaha..

lessoned learned. i hope. damn..i really hope.

[RSBob]

Your dilemma reminds me of a previous thread about losing interest in driving fast cars. The consensus was that as we mature what we value changes. Sure there were those who didn’t but it showed there are many grappling with the same issue. Since you are having these feelings you should probably sell it and let it be appreciated by someone else.

I have two Porsches and neither is driven enough. Like you, I keep fixing and improving them as a way to justify my ownership. When I do drive them they are wonderful, but getting my butt behind the wheel is the issue since there are many other things I enjoy doing too and they are last in line.

I feel your quandary since it is mine too at least with one of them. I may get to the point you are at soon, and when I get there I will sell it.

[Steve Carlton]

Get it nicely detailed, photograph the hell out of it, and put it on BaT with a reserve. Won't cost much, and you'll have a nicely detailed car if it doesn't sell.

[DFW_IE]

One last thing- I wouldn’t call it a mistake. You tried it and decided that you would like something else. If you hadn’t done it - you would probably still want one. I had a similar experience with a 2003 Miata LS. It was fun but the rough Texas roads and terrible blind spot (with the roof up) made me regret buying it but I needed to experience it for myself.

[pwd72s]

Originally Posted by Steve Carlton

Get it nicely detailed, photograph the hell out of it, and put it on BaT with a reserve. Won't cost much, and you'll have a nicely detailed car if it doesn't sell.

List it with no reserve...it'll sell. Often BaT cars sell for above market...

And welcome to the world of grown ups. Kind of an apples/oranges thing, but the more sought after my '72 911S became, the less I enjoyed it.