Would Like An Opinion On Future Value Of 84-89 Carreras

[coollx]

I'm getting close to purchasing my first 911. It will probably be a 100,000+ mile 1985 or 1986 Targa. I expect to spend around $13,000-$15,000 for a car with good paint and interior as well as good mechanicals.

My question is do you think the car I described, if maintained well and kept cosmetically nice, will ever be worth less?

I believe these cars are at the bottom of the depreciation and price curve but since I'm totally new to 911's I wanted to ask the experienced people here what you think.

Your thoughts and opinions are appreciated.

Thanks

Dom

ps....I originally put this question in the Marketplace forum but didn't receive much of a response so I thought I would try it here since the heaviest traffic is here

[hcoles]

if you are worried about future value or total cost of ownership this is probably not really the right car for you - IMHO.
it has been said sometime ago that they are all $20k cars - unless you get very lucky or don't want to fix what needs fixing then you are likely to be putting a considerable amount of money in the car
I think the value will continue to slowly move up. I could be wrong but I don't think these cars will pencil out very well as investments. This assumes you can DIY pretty much everything, if you are a check book mechanic then I would say forget it re. investment.

[coollx]

I'm not concerned whether the car is a good investment. I just wanted opinions on whether you think the car will depreciate any more, or if its hit bottom with regard to its value.

Just trying to see if others believe, as I do, that these cars, if maintained well, will never be worth less than they are today.

Dom

[Dantilla]

No series of 911 has ever dropped down in value like the 924/944 and 914. I doubt the Carreras will drop much further.

Of course, the trend has little to do with one individual car. If you maintain it to a high standard, it will be worth more than average. If you abuse it, wreck it, or fail to maintain it, it will drop significantly. Bottom line, your car's value is up to you.

[yelcab1]

Cars have always been bad investments. Buy it, drive it, own it because you love it. Don't bet on future values, you will likely lose money.

[livi]

As a car model per se, I believe it belongs among those that will hold a stable value over the years. But, it´s absolute value will from one period to the other, as everything else, depend on many other factors not necessarily conected to that car model as such.

Many items, such as certain car models, have been on a perceived value rollercoster over times. In a certain time period worth a fortune, next almost laughed at. For instance, I am not the only one regretting not taking the ridiculously low offer on a 73 RS just ten years ago or 964 RS 5 years ago.

In that rollercoster I believe the 911 from 65-97 will hold a relatively better value than most other makes.

From the opposite perspective: You will probably be hard pressed to find other car models that lose less value in any given time frame.

Gawd, what a rant, sorry!

[grudk]

Gradual appreciation, but nothing impressive. Too many of them to be true 'collector' cars. The early 930 on the other hand...

[Gogar]

My opinion:

If you buy a 100K mile carrera to $15K today it will never be less in the future than it is today.

IF you don't put any miles on it and cover it up all the time.
IF you keep the tires, rubber, leather, fluids, and mechanical stuff in Tip-Top shape.

THEN, in 5 or 10 years pull it out of the garage with the same 100K miles on it and you'll probably MAKE some money.

But what's the point?

I think SCs are at the bottom of their depreciation curve, 84-86 Carreras are not far behind.

The biggest thing to think about is not the overall value of the car, but the cost of ownership which - with these cars - is either VERY affordable or VERY expensive, depending on your diligence with the car and a lot of luck.

[Wavey]

[QUOTE=coollx;3549452]I'm getting close to purchasing my first 911. It will probably be a 100,000+ mile 1985 or 1986 Targa. I expect to spend around $13,000-$15,000 for a car with good paint and interior as well as good mechanicals./QUOTE]

Hi Dom, welcome to the fold!

Your title says "84-89", but you're actually looking at 85-86. Investment-wise, 86-earlier is a little different animal than 87-later. IMO, the 87-89 G50 Carreras are likely to hold their value over the long term a little better than the earlier Carreras and SCs. Reasons? You're more likely to find a well cared for, well maintiained, lower mileage car, and as time goes by I think more potential buyers will want the G50. That being said, you could find a very nice 86-earlier in your price range, and if you maintain it well it will hold value. But in that price range, an 87-later is likely to have more miles and to be in need of maintenance, so not as good investment-wise. Of course if you are willing to do your homework, search a lot,, be flexible on color and options, and wait until the right car comes along, you might find a very nice G50 for $15K, from an owner who doesn't know current values.

But don't listen to me - I bought an extremely nice, low-mileage, one-owner car, and am pushing it down the slippery slope of modifications, thereby making it a better car for me, but constantly lowering it's investmnent value

To answer your question, yes, IMO they've pretty much bottomed out, assuming there's not a huge crash in the collector car market, or generally for that matter.

[Porsche_monkey]

I consider my 84 and 89 to be fully depreciated, with regular maintenance and a few thousand miles per year you can't lose a lot of money on your investment. But you won't make a lot either.

[the]

I'd agree with most of what gogar says.

But SC's as a group bottomed out on the depreciation curve a while ago. I think even the G50 Carreras have now bottomed out.

If you buy a 100K carrera for $15K and put no miles on it over the next 10 years, yes it will be worth more than $15K 10 years from now.

But I think even if you put 100,000 additional miles on it over the next 10 years, it will still be worth $15K or more, 10 years from now, as long as you keep it in excellent cosmetic and mechanical condition.

That's just because of inflation. $15K 10 years from now is only going to be worth about 50% of what $15K is worth today. So it's a bit of a trick.

And, of course, taking a 100,000 mile Carrera to 200,000 miles is not going to be free. That is going to include the costs of a lot of scheduled maintenance, and undoubtedly some "unscheduled" repairs, perhaps some with significant costs involved (such as a top end job).

So as an "investment" it is going to likely be a net loss. It is true that almost all cars that are driven significantly are bad "investments" But it's also true that some are much worse than others. Relative to just about any other car on the road, the 84-89 Carrera is currently just about the "least worst" investment out there.

[Zeke]

I have to say that I don't think Carreras are all that valuable. Not yet anyway. The economy is just now really showing its downturn and older high end sports cars are not likely to retain value. I think all the writing will be on the wall when the later Carreras reach age 30. Whatever they are worth then, they will always be worth at least that.

However, I will add that the value of the early cars ('65-'73) will pull the rest along. If they continue to soar in price, that will help all 911's, IMHO. At this point, I'd take a wait-and-see approach.

If you want the car, buy it. 15K is not that much for a car these days. And forget all this.

[Netspeed]

Originally Posted by hcoles

if you are worried about future value or total cost of ownership this is probably not really the right car for you - IMHO.
it has been said sometime ago that they are all $20k cars - unless you get very lucky or don't want to fix what needs fixing then you are likely to be putting a considerable amount of money in the car...

+1
I bought my 88 Carrera Cab in 2004 for $16500 which I thought was a pretty good price. After replacing the clutch, tires, carpeting, fixing oil leaks, and replacing shocks....I had a $20k car.

The future value should have no concern for you. It'll fluctuate up and down (hopefully up) but repairing and maintaining costs will negate any appreciation you'll see...unless the government outlaws all Porsches except the one you buy!

[BeyGon]

If I were buying a car for investment it would be another mid year Corvette, 63-67, I did and it was good. I now have an 89 911 for a driver and love it. I am not thinking of it as the investment, it is a fun car.

[Jgordon]

The 89s have seen drastic appreciation recently, and are expected to be your basic "blue chip" investement going forward. As for the rest of them.... well, meh.

[88911coupe]

I purchased an '87 cab for $29,XXX back in about 2001 or so and drove it for 2 years putting about 30,000 miles on it and sold it for $29,000 sight unseen, although I (well the mechanic actually) did put a new clutch in it, and a few while you are in there fixes, for about $3,500. Considering the fun of that car I think I did pretty well. I bought my current '88 coupe for 16,500 or so about 5 years ago and have not had to spend any significant money yet, but a valve job is looming. After that I guess I could sell it in the low to mid teens if I had to...maybe more. Overall, I'd say that's pretty good performance for what is normally a rapidly depreciating asset. The G50 Carreras are often referred to as the "best" of the older cars and whether or not that's true is not important, the point is a lot of people think they are so that keeps values from dropping.

[masraum]

Someday they'll be worth

One Million Dollars!!! (you've got to imagine the pinky in the corner of the mouth like Dr Evil)

[charlesbahn]

I think that most of the 911s will appreciate slowly. Originality will become increasingly important.

The one exception is the factory slant nose. Right now they are ridiculed because of the Miami Vice association, and therefore undervalued. They are not everyone's "cup of tea." But that is the car (Porsche) the next generation is going to want to collect and I predict prices for these cars will skyrocket at some time in the future.

[dw1]

My '97 sunroof coupe has also turned out to be a 20K$ car.

I bought it from the original owner, with less than 70K miles, paid what I still think was a good price, and it needed enough - a/c fix, alternator, etc. - to bring it up close to 20K$.

Having tracked the prices of SC's & Carrera 3.2's for quite a few years, I think the price of the 3.2's may, on average, continue to drop slowly for the next few years.

I don't believe these cars are investment-quality vehicles. They are cars to be enjoyed. Fun to learn how to drive well, and interesting to work on, with the added advantage of a great community and knowledgeable parts suppliers [plug for our sponsor]. That's why I'm going beyond the 20K$ with mods, including an sw chip, exhaust, etc.

If you want investments, buy a solid stock if such a thing exists, or better yet, a highly rated, well diversified fund. IMHO, it takes a certain amount of luck to actually make money with collector cars. That being said, I'm sure there are some very lust-worthy Porsches out there - an early 930 & any 959 spring to mind.

[Shaun @ Tru6]

like any well-researched and properly timed financial investment, buying an 84-89 911 can yield tremendous ROI to you PERSONALLY as many have said here.

That you will probably be able to sell your car for what you paid for it down the road, your cost of ownership is maintenance and upgrades.

With a smile on your face the whole time, can't do much better than that.