u shd look at how much ferrari's loose their value

till i can afford the depreciation, I will keep buying new. I do intend to keep mine 4-5 yrs to minimize the per yr depreciation.

 

Hmmm... let's do the math on a theoretical situation using your $10K delta.

Scenario 1: You trade in your old 997 on a new 991. Let's say the dealer gives you $40K for you 997 and the new 991 is $100K (pretty normal numbers.) You deduct the $40K 997 trade in from the $100K 991 price and pay tax on the difference $60K. 8% tax on $60K is $4,800.

Scenario 2: You sell your old 997 privately for $50K (using your $10K delta.) You have nothing to trade in an pay tax on the full $100k of the 991. 8% tax on $100K is $8,000. You paid $3,200 more in tax (Not $5-$6K as you suggest) but you made $10,000 more on the sale so your difference is $6,800.

I dunno... $6,800 is a pretty good incentive to list it privately and go through the hassle of a few tire kickers. But it's different for all of us.

 

My car, a 997.1S was ordered new in 2005. Sticker of 86K, with 1K off at delivery. 95K after taxes and fees. Now worth 40-45K. Comes out to about 500/mth. Makes driving a P car seem a little more affordable...
Jim

 

The tax math of course changes when you're talking about trading in higher price cars (like a 991S for 991TT). But ultimately I agree it's a personal question for everyone to decide themselves. For me, it's more difficult to sell a car because I live in Manhattan and the car is at a parking garage.

 

What's better still, and this will apply in Ontario, and I would think those states (like NY) where you can deduct your trade in to save the tax, and that is you have your private purchaser go into the Porsche dealership andthe purchaser pays the dealer. The dealers in Toronto at least will flow through your tax savings. Apparently this is not possible in California, surprisingly... (taxes in Canada can be 13%, so that's an even bigger saving.
Also, it's true that it's a hassle dealing with private purchasers. If it's quick and easy then why not. The problem with a high end used vehicle is that a lot of buyers want to lease and therefore go to dealers. Or spending $50 on a 5 year old car is scary to them and they'd rather get something else. Also on the Autotrader site, it's amazing how many people are out of town, but will buy your car "on pay pal". Good luck with that one, as your car winds up in some container overseas and you're holding the bag.
Hence sometimes you just have to say f*** it and take your hit with the dealer, call it a day and move on and forget about the added depreciation.

 

This is a little off-topic, but since we're talking taxes: I'm a pretty liberal guy when it comes to tax policy, but one thing that drives me nuts is that the DMV collects tax every time the car is registered. Imagine a 911 is bought/sold four times before it goes to auto heaven... The state is collecting over 30% taxes. Under what reasoning does this make any sense? Just because the driver has changed, it doesn't strain the public infrastructure any further.

 

I suggest that you peek at Gt3RS used prices . In some cases they are selling well OVER MSRP as used cars .

 

They would do it for EVERY transaction if they could except they would have no way to track it. Since you have to register a car it becomes the most obvious one to tax. IMO, they'd do houses too if they wouldn't just kill the market and if they didn't already tax it in a myriad other ways.

 

Awesome. There really is no way to translate into words how fun the old 911s can be to drive.

 

Truer words have seldom been spoken on this board...

 

I see your disease. As long as the better half is ok with your treatments over the years:

 

does anyone know at what point the depreciation bottoms out and the 911 begins to appreciate?
Obviously mileage and condish are factors, but assuming the car is well maintained along the way...

 

I sold my 2007 C2 in November 2011 for $41K in excellent condition and 39K miles. Today with 60K miles in excellent condition KBB says it's worth $35K. My guess is that in 2 more years it will still be worth $32K so call it 7-8 years right now if it is kept in excellent condition.

When I was young I used to buy them about 4-6 years old, keep them for a couple years and fix them up along the way and sell them for a profit.

ChuckJ

 

Uh, never. Seriously it'll bottom out but you 're not going to see 991s or 997s start appreciating. They're not 993s. Did the 996s ever start gaining value?

 

The 996 GT3 will continue to gain.