My boss told me last weekend he went to local dealer and ask for trade in his 07 Turbo for a 08 Turbo Cab. His 07 Turbo was about 11 months old with 10xxx miles(kinda high), Original MSRP I believe about $140K, but dealer only willing to do $102K for trade....So less than 1 yr for $40K lose?!! I thought 997TT hold value better than 996TT?!

 

Yes, but you are comparing list price (140k) to wholesale trade (102k) which is the likely scenario for many dealer deals. Not much of a deal though. He can likely sell it on his own for more. Dealer would then put it out on the lot for sale at 125k or more.

 

I always find it hard to evaluate trades since we don't know what price he's being offered on the 08 cab. 25% depreciation in one year isn't unheard of.

 

Well...most used 2007 997 turbo coupes are selling for 120-135k. IOW, your boss's dealer is trying to rape him.

I suggest that if the dealer is unwilling to budge, suggest that he sell the car himself.

 

Well,you know how the saying goes "Business is business,never personal".

 

dont thinks thats true, latest auction prices

<TABLE class=tb0s3p1><TBODY><TR vAlign=top><TD class=title width=559>Vehicle Identification</TD></TR><TR vAlign=top><TD><TABLE class=tp2s2bdTw567><TBODY><TR><TD class=textRight>Search:</TD><TD class=textBgWhite150></TD><TD width=1></TD><TD class=textRight>Select Region: </TD><TD class=textBgWhite70>National </TD><TD width=10></TD></TR><TR><TD class=textRight>Year:</TD><TD class=textBgWhite150>2007</TD><TD width=1></TD><TD class=textRight>Seasonal Adjustment: </TD><TD class=textBgWhite70>No </TD><TD width=10></TD></TR><TR><TD class=textRight>Make:</TD><TD class=textBgWhite150>PORSCHE</TD></TR><TR><TD class=textRight>Model:</TD><TD class=textBgWhite150>911 TURBO</TD></TR><TR><TD class=textRight>Style:</TD><TD class=textBgWhite150>COUPE</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE><!-- Transactions Page Starts here --><TABLE class=tb0s3p1><TBODY><TR vAlign=top><TD class=title width=559>Transactions</TD></TR></TBODY></TABLE><TABLE class=tp1s0bdTw567><TBODY><TR vAlign=top><TD width=565><TABLE class=tb0s3p1><TBODY><TR vAlign=top></TR></TBODY></TABLE><TABLE class=tp2s1bdTw565><TBODY><TR bgColor=#336699><TD class=textWhiteDflt>Date</TD><TD class=textWhiteDflt>Auction</TD><TD class=textWhiteCenter>Sale Type</TD><TD class=textWhiteRight>Price</TD><TD class=textWhiteRight>Mileage</TD><TD class=textWhiteCenter>Cond</TD><TD class=textWhiteCenter>Color</TD><TD class=textWhiteCenter>Eng</TD><TD class=textWhiteCenter>Trans</TD><TD class=textWhiteCenter>In Sample</TD></TR><TR bgColor=#ffff00><TD class=text width=50>09/20/07</TD><TD class=text width=70>MANHEIM</TD><TD class=textCenter width=55>Regular</TD><TD class=textRight width=42>$112,000</TD><TD class=textRight width=45>4,720</TD><TD class=textCenter width=36>Below</TD><TD class=text width=45>SILVER</TD><TD class=textCenter width=24>6G</TD><TD class=textCenter width=32>A</TD><TD class=textCenter width=57>Yes</TD></TR><TR bgColor=#ffffff><TD class=text width=50>09/13/07</TD><TD class=text width=70>RIVRSIDE</TD><TD class=textCenter width=55>Lease</TD><TD class=textRight width=42>$121,000</TD><TD class=textRight width=45>3,877</TD><TD class=textCenter width=36>Avg</TD><TD class=text width=45>WHITE</TD><TD class=textCenter width=24>6G</TD><TD class=textCenter width=32>6</TD><TD class=textCenter width=57>Yes</TD></TR><TR bgColor=#ffff00><TD class=text width=50>09/11/07</TD><TD class=text width=70>FAAO</TD><TD class=textCenter width=55>Lease</TD><TD class=textRight width=42>$110,000</TD><TD class=textRight width=45>7,625</TD><TD class=textCenter width=36>Below</TD><TD class=text width=45>BLUE</TD><TD class=textCenter width=24>6G</TD><TD class=textCenter width=32>6</TD><TD class=textCenter width=57>No</TD></TR><TR bgColor=#ffff00><TD class=text width=50>09/06/07</TD><TD class=text width=70>MANHEIM</TD><TD class=textCenter width=55>Regular</TD><TD class=textRight width=42>$112,000</TD><TD class=textRight width=45>12,379</TD><TD class=textCenter width=36>Below</TD><TD class=text width=45>BLKOLIVE</TD><TD class=textCenter width=24>6G</TD><TD class=textCenter width=32></TD><TD class=textCenter width=57>No</TD></TR><TR bgColor=#ffffff><TD class=text width=50>09/05/07</TD><TD class=text width=70>CEN FLA</TD><TD class=textCenter width=55>Regular</TD><TD class=textRight width=42>$116,750</TD><TD class=textRight width=45>1,536</TD><TD class=textCenter width=36>Avg</TD><TD class=text width=45>Black</TD><TD class=textCenter width=24>6G</TD><TD class=textCenter width=32></TD><TD class=textCenter width=57>Yes</TD></TR><TR bgColor=#ffffff><TD class=text width=50>08/14/07</TD><TD class=text width=70>FAAO</TD><TD class=textCenter width=55>Regular</TD><TD class=textRight width=42>$115,500</TD><TD class=textRight width=45>7,276</TD><TD class=textCenter width=36>Avg</TD><TD class=text width=45>SILVER</TD><TD class=textCenter width=24>6G</TD><TD class=textCenter width=32>6</TD><TD class=textCenter width=57>Yes</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE><TABLE width=567><TBODY><TR><TD class=title align=right>Ct </TD></TR></TBODY></TABLE>

 

I should have specified that they are selling for between 125-135k retail. Plus, these wholesale prices are still 8-10k above what that dude was offered including one with 12k miles for $112k.

 

When you trade a car into a dealer, you get below wholesale most of the time

 

102K sounds pretty fair. Remeber dealers do not care what he paid. They look at what they can buy a new one from the factory for. A 140K MSRP, probably has a dealer cost of 129K or so. So CRAZY high mileage (in his case) and an over flowing used market of 2007 997tt's, receipe for disaster.

He would have to get 110K (break even) selling it on the outside to equal the sales tax savings on the 102K from the dealer (assuming 7% sales tax). He will have a hard time getting that and then having to deal with all the dead beats.

Why anyone would pay MSRP for a 997TT is nuts. This car has the potential to make the 996tt look like a good investment.

 

Why? What possible reason would you have to think that? They are well on their way to making more 997TTs than 996TTs AND there are WAY more cars now that are approaching it or surpassing it on performance.

With all the Boxsters and Cayennes on the road, the days of holding value is over. Even the CGT took a $100k plunge. Buying new cars these days is bordering on lunacy.......the leasing age has ruined this industry.

The day when the 993TT was 400 hp and everything else being 300 or less are over

 

The 997TT production is looking alot tighter than the 996TT's. My dealer(large) is getting 5 total allocations for coupes the whole of 2008

 

Simply because Germany is moving production toward cabs instead.

 

[quote=Y65MPH;1367801]102K sounds pretty fair. Remeber dealers do not care what he paid. They look at what they can buy a new one from the factory for. A 140K MSRP, probably has a dealer cost of 129K or so. So CRAZY high mileage (in his case) and an over flowing used market of 2007 997tt's, receipe for disaster.

dealers get a 13% discount from MSRP

 

Thanks, I thought it was 9% with some sort of holdback.

If that is the case he should take the 102 and run. Plus I am sure there are tons of coupe owners that have the same idea, swap for the cab.

Craig

 

Not surprised by that trade in number...the depreciation hit is huge...