Author | Discussion |
Ginger Wheelspin
548 posts
22 months | Sunday 7th December 2008 
As a non-economist (help me here), would I be right in thinking that if you bought a used 996/7 now, even for a bargain price, would it steadily go down in value over the next X months, never to recover, even when the economy does?
So you're actually paying £X each month purely for the pleasure of owning it -just like a Hire Car?
If so, who would buy one at the moment, apart from people with loads of extra cash?
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IanHug
165 posts
74 months | Sunday 7th December 2008
That's what's stopping me taking advantage of one of the many bargains to be had on 997Ts and GT3s at the moment.
Current car has probably lost 35/40k in 2 years from new and must be starting to slow down a bit now. Swapping up to a 997T or GT3 for an extra 20/30k would probably just keep the depreciation up at 20k per annum for an extra year or two and I don't want to spend 20k a year on a car.
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Ginger Wheelspin
548 posts
22 months | Sunday 7th December 2008
That's a real shame, and scary. Nearly two grand a month is an awful lot to pay for an extra buzz.
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Nitro...
1175 posts
26 months | Sunday 7th December 2008
You're a long time dead, though.
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Try5t
479 posts
45 months | Monday 8th December 2008
Nitro... said:
You're a long time dead, though. And a long time alive too !! 
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gilford
668 posts
35 months | Monday 8th December 2008
regardless of what car is sat on your drive you will be losing on it, you may as well have something sat there that will put a smile on your face
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Deutscher
1429 posts
56 months | Monday 8th December 2008
Other than for the very rich, I expect there is some correlation between the size of smile and the size of the amount you are losing.
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Nitro...
1175 posts
26 months | Monday 8th December 2008
Try5t said:
Nitro... said:
You're a long time dead, though. And a long time alive too !! You hope.
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ukwill
5411 posts
44 months | Monday 8th December 2008
Ginger Wheelspin said:
As a non-economist (help me here), would I be right in thinking that if you bought a used 996/7 now, even for a bargain price, would it steadily go down in value over the next X months, never to recover, even when the economy does?
So you're actually paying £X each month purely for the pleasure of owning it -just like a Hire Car?
If so, who would buy one at the moment, apart from people with loads of extra cash? Wait! You mean to tell me that over time, cars depreciate? 
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Ginger Wheelspin
548 posts
22 months | Tuesday 9th December 2008
Read my post again before you make an attempt at sarcasm.
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gilford
668 posts
35 months | Tuesday 9th December 2008
Deutscher said:
Other than for the very rich, I expect there is some correlation between the size of smile and the size of the amount you are losing. It hits us all mate. I bought my 911 in May, probably lost a good £8k on it, a mate bought an Audi A4 diesel and has lost a good £6k. His Audi was a third of the cost of my 911. I know which car I would rather lose money on....................
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ukwill
5411 posts
44 months | Tuesday 9th December 2008
Ginger Wheelspin said:
Read my post again before you make an attempt at sarcasm.
Well to be fair, I did quote it in its entirety didn't I?
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Ginger Wheelspin
548 posts
22 months | Tuesday 9th December 2008
Yes, you just didn't understand that I was talking about 996's and 7's at the bottom end of the market rather than Cars in general.
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ukwill
5411 posts
44 months | Tuesday 9th December 2008
Ginger Wheelspin said:
Yes, you just didn't understand that I was talking about 996's and 7's at the bottom end of the market rather than Cars in general. Isn't it irrelevant? Don't all cars depreciate over time? Besides which, I'm not a mind reader. I can only respond to what you've posted.
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oyster
2662 posts
85 months | Tuesday 9th December 2008
So to summarise the responses on this and many other threads:
"All cars depreciate and you only live once so ignore the cost" - Said by those already owning.
"I think prices will plummet further and I'll grab a bargain in 1/3/6 months" - Said by those wanting to buy.
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gilford
668 posts
35 months | Tuesday 9th December 2008
oyster said:
So to summarise the responses on this and many other threads:
"All cars depreciate and you only live once so ignore the cost" - Said by those already owning.
"I think prices will plummet further and I'll grab a bargain in 1/3/6 months" - Said by those wanting to buy. Pretty much The thing is the latter will always find the prices a little too high, hence the name armchair buyers. The former will be the one's with big smiles on their faces (albeit a little more out of pocket apparently)
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os993
107 posts
24 months | Tuesday 9th December 2008
When can we expect prices to stabilise, and depreciation to return to 2006 levels pa? Or are those days long gone?
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shoestring7
2728 posts
83 months | Tuesday 9th December 2008
gilford said:
Deutscher said:
Other than for the very rich, I expect there is some correlation between the size of smile and the size of the amount you are losing. It hits us all mate. I bought my 911 in May, probably lost a good £8k on it, a mate bought an Audi A4 diesel and has lost a good £6k. His Audi was a third of the cost of my 911. I know which car I would rather lose money on.................... Yup, we bought a new ex-dem Deasel Honda Civic in Jan for what I thought was a good price. It had to be sold in October and it dropped £3.5k, probably the same rate as my Cayman. SS7
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Nitro...
1175 posts
26 months | Tuesday 9th December 2008
oyster said:
So to summarise the responses on this and many other threads:
"All cars depreciate and you only live once so ignore the cost" - Said by those already owning.
"I think prices will plummet further and I'll grab a bargain in 1/3/6 months" - Said by those wanting to buy. Not in my case. I can't afford one until next April/May so it makes no difference to me what the prices are, but when I do get one, I'll be buggered if I'm going to worry about depreciation.
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hornetrider
14237 posts
42 months | Wednesday 10th December 2008
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