Not in VA, you get screwed coming and going. No credit for sales tax paid + you pay property tax every year. Complete BS.

 

So in VA if you trade a car into a dealer, the trade in value doesn't get deducted off the taxable amount of the new purchase?

Yikes

 

It's actually shameful! Here is the law:

Effective July 1, 2014, unless exempted under Va. Code § 58.1-2402, Virginia levies a 4.05% Motor Vehicle Sales and Use (SUT) Tax based on the vehicle's gross sales price or $75, whichever is greater. An additional $64 fee applies to electric vehicles, excluding mopeds.
For the purposes of the Motor Vehicle Sales and Use Tax collection, gross sales price includes the dealer processing fee. The gross sales price is the vehicle price after the manufacturers' rebates or manufacturers' incentives. Gross sales price does not include any other price reductions, such as credit for trade-ins, unpaid liens or other unpaid credits.

 

Rather have that than the 15% in sales taxes we pay in BC for any car over $50k

 

As far as I know in Maryland you pay 6% sales tax on any car you buy. Trade in means nothing.

 

nope, MD change the law a few years ago. you now only pay the difference.

 

That's a whole different mess up there... Remember we also pay annually on our cars, some BS they call Property Tax. The worst is when they claimed my Escalade appreciated year over year and increased my property tax. How about that???

 

My 2013 991S Coupe PDK depreciated 35.2% from MSRP. Purchased new at a slight (IMO) discount from $125K MSRP + 10% more $$ in sales tax and license. Owned 25 months.

Delivered Jan 2013 new; Sold 2/15 to a dealer who sold it to an independent for what they paid me. Negotiated my new vehicle $$ before I told them about the 991. Received tax credit difference. - cash deal.

8 bids total- 4 were from authorized Porsche dealers & were at least $7K lower than what I was able to finally achieve. P-car dealers said market is soft on 991. Too many new & used available (of course).

17K miles. Tires 50% F, 25% rear remaining. All service completed. Car was immaculate.

My recent depreciation experience....

 

I think the introduction of the gts has not helped resale values of 991 and 981

 

They were the same before the GTS. The depreciation is brutal on these cars and most high end cars. The price to play.

It's all relative. Lose 10K or 25% on a 40K car and it's not a lot of cash to most guys here.

You can lose 50K on a 991 Turbo S in less than a year.

The more expensive they are, the dollar figures are more obviously.

 

I have a 10k mile/yr 27 month lease on my 2014 991 C2. The MSRP was $104,350 and when I was done negotiating and converting the leasing transaction to a straight purchase, I paid $96,600. The residual on the car is $73,994. This amounts to 23% depreciation at the end of the 27 month term.

 

Are your total payments and out-of-pocket costs for 27 months over $22,606?

Residuals aren't a true reflection of market rates.

 

The payments are over $22,000 as sales tax (7%) is not included nor is interest (money factor) being charged which is 5.6% equivalent. When analyzing how much any asset depreciates, one does not include either interest or sales tax in arriving at the vehicle depreciation. However, if one is looking at total cost these two excluded items should be considered. How one chooses to finance a purchase or the state that they reside in has no bearing on depreciation.

I agree that residuals do not guarantee market value. Residuals are a buyout value that is contractually guaranteed. In my case (or any lease transaction) this becomes the floor as it can be purchased for that value. If its worth more, great if not walk.

This is one of the many reasons why I lease. I know exactly what the depreciation is (worst case) from day one over the time I will have the car. The greatest savings occurs when utilized in one's business as leased cars are not subject to the same luxury car limitations as owned vehicles.

It does appear that well optioned cars like the "S" depreciate more rapidly than the base cars.

 

I bought a late 2012 CPO 991 S in Jan 2014 which MSRP was $142K plus....GT silver w PCCM/Burmeister/PDCC/sportsplus/PSE/Full leather/18 wayseats/CPO till 2018..loaded to the tee for $96500 (got all 4 new P zeros in it too)
I thought I had a great deal! wondering what would it sell for in 2017?

 

What city did you buy your car from? Nashville possibly?

On average, your car will lose around $800 per month in depreciation in the next 3 years or so and will slow down after that.