997 prices

[glenndeweirdt]

I am still considering a 997. Does anyone know what is happening in the used 997 market. I would think they are desperate to move inventory but prices listed on the PCNA website are still pretty high. Do you think an out-the-door price 15% less than asking price is realistic, conservative, or go for 20%.

Glenn

[lupin..the..3rd]

In a word.... No.

[glenndeweirdt]

Interesting.

Why would'nt 997 prices be soft? There must be a number of '05 and '06 cars coming off leases. I would think that even if supply of these vehicles is slightly low demand has to be near zero. The rich guys that aren't affected by the tanking stock and credit markets are buying '09 997s anyway.

Your thoughts please.

Glenn

[kevjandon]

I agree with glenndeweirdt.

GM just announced today that they will only finance those with 700 pt. credit scores or higher.

Most private banks are doing the same thing.

Those with cash have lost enough in the stock market to warrant not buying a toy car.

For the first time EVER BMW is offering .9% financing on the brand new 2008 M3.

I say give it 30 more days. Let inventories continue to pile up. Prices will fall.

[glenndeweirdt]

Kev,
This is interesting. I stopped at my local Porsche dealer about an hour ago. A CPO '05 997 with 25,000 miles asking price dropped to $49,900 ! I hate to sound so gleeful as my trade value is dropping faster than a Russian billionaires balance sheet (and my 401k)!

I think I will wait a little longer to replace my '99!

[EuroShark]

Lol nice post glen. Yeah i see the price of lots of goods dropping in the future. The gas station next to my house is 2.92 today

[racer]

If you ask for 20% off what can you loose, other than someone saying no. There are plenty of dealers out there looking to sell (something! anything!). I saw "coupons" this summer for 15% off Cayennes.. I don't think asking for more off a 997 is a bad idea (although you will have to take something from inventory so be prepared to compromise something).

Given the coming growth of cars off lease ('05s and '06s) plus the fact that the 09 has DFI and PDKs, the '08s on the lots are sitting ducks.

[SandyI]

In an economy where the stock market plunges to record lows each day? You walk into a Porsche dealership with your checkbook out, pen ready to write a reasonable number? You'll own the car that day. Have fun.

[trader220]

Since I am now in the Porsche selling business I can tell you the best deals out there are in the new 2008's. Cars that stickered in the low 80's can be had at at least 10k off. As far as lease returns guy the "dealer" is not stuck with them, those cars are owned by Porsche Financial Services and they dispose of them in any number of ways. They do filter into the market. We always have one or two 2005 in stock but they keep selling. Whats hardest to sell is any 2004 we're stuck with. The real bargian is the 2002 to 2004 but they're not CPO cars.

[Robert Adams]

A family member just went down the street to his local Porsche dealership and bought a brand new 08 C4 LOADED! for $88K out the door!
List was well over $100k.
Just for point of reference.

[glenndeweirdt]

Wow! Great deal on a C4S!
Unfortunately for me my year-end bonus that I was planning to use for a newer 997 is Kaput!
At least I still have a job and my house has only lost 20%, LOL

[trader220]

We have 2 unsold 997 C2S's which sticker for over 100k with similar savings