How much did you pay for your used 996TT?
#226
Here is my quick look into the data,
I have used a slightly more complex regression model to include the effects of age^2 as well as age by miles and age^2 by miles interaction
Basically
Price = Constast + Age + Miles + Warranty + Coup/Cab + ModelYear+X50+Age^2 + Age by Miles + Age^2 by Miles
The effects of the financial crisis were regressed on the background as a fixed factor, using 6/1/2008 as the break point
So what can we get out of it.
A. Miles and Age have the most robust effect on the price,
B. Moderate effects are produced by whether the car is Coup/Cab, and X50
F. Model year, warranty and miles by age and miles by age^2 aren't signficant
D. Effects of the warranty, age by itself and age^2 were robustly non-signficant e.g. exert no signficant influence on the price.
I have used a slightly more complex regression model to include the effects of age^2 as well as age by miles and age^2 by miles interaction
Basically
Price = Constast + Age + Miles + Warranty + Coup/Cab + ModelYear+X50+Age^2 + Age by Miles + Age^2 by Miles
The effects of the financial crisis were regressed on the background as a fixed factor, using 6/1/2008 as the break point
So what can we get out of it.
A. Miles and Age have the most robust effect on the price,
B. Moderate effects are produced by whether the car is Coup/Cab, and X50
F. Model year, warranty and miles by age and miles by age^2 aren't signficant
D. Effects of the warranty, age by itself and age^2 were robustly non-signficant e.g. exert no signficant influence on the price.
Last edited by PeterK; 12-30-2009 at 02:14 PM.
#228
If you paid too much, heaven help the rest of us who already own them. Yours sounds like a terrific value to me.
#230
That's a killer deal.
#231
Actually, according to the model, you car (assuming no warranty, 6 year old coupe, no warranty) you did quite good - the fit price is $48K.
Edit, the fitted price would be 47,663 once your car was included into the model
Last edited by PeterK; 12-30-2009 at 02:27 PM.
#232
So my model was sufficient as none of those higher order relationships mattered. Great. I think we have now contributed a model of some value to those looking to answer the question of how much a car is worth--or at least a good, market-based starting point.
#233
Indeed it was!
It was also interesting to see that the model year didn't matter either. Just the age and the miles. I think the model could further be improved by addition of the original MSRP and the vehicle condition into the account, but these would prolly be minor additions.
Last edited by PeterK; 12-30-2009 at 05:34 PM.
#236
Recently purchased a 2001 996TT
44k miles. Great condition. All service records. Car needs nothing.
$35,500.
Speed Yellow, black. Sport seats, yellow deviated stiching, yellow center console, short shift. Stock, all original. No warranty. Couldn't be happier with the car.
44k miles. Great condition. All service records. Car needs nothing.
$35,500.
Speed Yellow, black. Sport seats, yellow deviated stiching, yellow center console, short shift. Stock, all original. No warranty. Couldn't be happier with the car.
#237
Recently purchased a 2001 996TT
44k miles. Great condition. All service records. Car needs nothing.
$35,500.
Speed Yellow, black. Sport seats, yellow deviated stiching, yellow center console, short shift. Stock, all original. No warranty. Couldn't be happier with the car.
44k miles. Great condition. All service records. Car needs nothing.
$35,500.
Speed Yellow, black. Sport seats, yellow deviated stiching, yellow center console, short shift. Stock, all original. No warranty. Couldn't be happier with the car.
Great price
#239
All in jest. However in all seriousness prices are plummeting on these cars. This thread will remind people just how much money they have lost on these cars. So for future owners it is great. For current owners, such as myself, it might make you a little queasy. And I noticed from your signature which camp you are in.. :-) Now is a great time to buy..
Once I got over that I slept better - but I look forward to getting a good deal on a TT ine day over the next year or two! Yahooo~!
99C2
#240
Actually if you count it as 2010 (only 24 hours away) he got it within $3 using the formula listed earlier in the thread...
And if you count it as 2009 he got it for a savings of about $4100... So it is really how you look at the year
But yeah good price but scary that the math works out so well...
And if you count it as 2009 he got it for a savings of about $4100... So it is really how you look at the year
But yeah good price but scary that the math works out so well...