Great stories. It's also nice to see people being able to retrospectively analyze the decision making process that brought them to have THAT car.

I'd like to hear from other about what they thought was in the future and what they did with that car.

 

I have a very similar story and perspective to RF5BPilot's. I purchased a CPO C2S with 3,400 miles and saved close to $30K. During buying process I was torn between brand new Cayman S, or CPO 911. One and half year later, I am so glad I chose the CPO 911 S. The $30K I saved, greatly make up for the couple of "missing" options (only partial leather and no chrono).

 

Regarding the depreciation loss for new or used, another way to look at it is for the money lost, would the enjoyment or whatever good feelings you get from the car be worth it? I generally by my cars used because I get the roving eye after a year or so and if I can buy right, I can usually get out right. When I look at what I paid for my 14,000 mile 997S manual with full leather, sport seats, nav and some other stuff (no sport chrono) and consider that it cost close to 50% less than it's new sticker price, I'm glad I'm on this end of the transaction. It's a very nice car and is enjoyable to drive, but to me it isn't the nervana it would have to be to be worth the cost of depreciation the original owner suffered.

Over the years I bought almost all of my sports cars as the "keeper" and have a little envy for those who found their perfect car and have kept it for years like certain 356 owners, for example, but have finally learned that for me, the "keeper" doesn't exist. The chase and the new experience are what provide my enjoyment.

I wish I had the wherewithal and space to have kept most of the sports cars I have owned, what a neat collection I would have. But I can't do that so buying the right cars used allows me to enjoy the hobby and experience a variety of interesting cars with -- relative to buying new -- minimal cost and minimal loss, therefore minimal cost of ownership and maximum ability to keep chasing and buying. It works for me.

 

Indeed.

 

It's all about your personal financial "threshold of pain". It might sound ridiculous but I turned down 8 NOS dealer inventory 997.2's because I HAD to have the rear wiper on my Porsche. Seems trivial but I figured "If I'm dropping this much coin on a car, it better be built JUST right" and I think the rear wiper breaks up the rear end well, flow-wise.

So maybe I wasted $12k by ordering my EXACT car but I'm glad I did. No regrets. We'll all make more money, and I don't daydream where the saved money would have gone. I was a cash buyer at the time.

If I sat around all day and considered the new home theater I could have bought with the 12k, then maybe I'd stir a little...

...nah, I hate watching movies. I like driving cars

Long term ownership? No, when I ordered the car I was already planning duration because I want a GT2 RS once the kid has left home for college

Think about your threshold of pain. And $12,000 savings is actually more than that if you would be financing the car @6%. That $12k can be invested for a guaranteed 7% return on money. So that savings can be bigger than first thought.

 

I was just in a similar dilemna as yourself. One thing i have always done is to buy used cars especially when it comes to sports cars as the depreciation is more significant. I had bought a used Z06 vette in 05 which i just sold for 20k and picked up a 07 C4S for 57k. I had always wanted a 911 and was looking for a cost effective way to get into one and this worked out for me.

I feel there is less risk and overall loss from a financial perspective when buying used. (less sales tax, property taxes, depreciation curve and insurance rate)

For me personally i keep saying to myself i want to keep this car as long as i can, as its a reminder of all the hard work and sacrifice i made to get this far in life to being able to buy and maintain one.. but then again like most car guys out here, automotive technology is drastically changing and who knows what we will see two 911 generations aways..enjoy life while you can...

 

Desire leads to many difficult decisions, I go toward the 'Joy' and try to leave the 'doubt' at the church. My first 911 was selected because of many personal desires BUT in my head I wanted an '09. There was a Automobile article from Sept. '08 that said "get a used 911 . . until the '09 come down in price."

Then sure enough the second pcar came to me and there is even more 'Joy' and possibly 'forever'. But NEW can have many definitions and meanings. Both cars were 'new' to me and never 'owned', yet both were bought at very good price points. Even a car rolled off the flatbed could go out for a series of test rides prior to delivery.

yrralis1 : A new car and a used car both depreciate. The used car shopper is simply trying to hedge the financial loss by reducing exposure . In my opinion no car ought to place its owner in a position to experience a financial stress event or doubt .

Next year they'll build a new 911 that may put us in a different frame of mind and change 'forever'.

 

Perhaps, but it would have to be a quantum leap in car and be priced at or below what I could trade my '08 for. Seems unlikely. Until then, I'll look with interest and curiosity...but will stay with what I have...very similar to a marriage .

J

 

I'm not looking at this so much from a monetary standpoint. I was more wondering how many folks justified ordering a car wince they thought they would keep it for many years to come, but in the ended sold it for something else.

If I order a new car it won't be a stretch but I'm wondering how many folks have used the same rationale only to end up driving something else in 5 year and looking back and saying that they wouldn't have ordered new if they weren't going to keep it.

 

I ordered 4 of my 5 last cars (the exception being an '03 911 C2). I kept each less than 2.5 years. Haven't regretted it one bit. Its only money.

 

"$80,000 plus CAYMAN" Dave? Wow, thats alot of wheat to put into a Cayman, supposedly the cheaper model. I got a leftover 997.7 stickered at over $91,000 for $79,000.................

 

I agree with this and say that even one mile driven on a test drive can be interpreted as "used" .

I define used as being titled . A "leftover" car is still new (if warranty time is not "punched" ) but there is an inherent depreciation simply based the timeline. Of course it's not as much as a "used" (titled) car but if it's sittlng at a dealership they are not going to sell it under invoice (for a loss) if they can help it. In short --there are price boundaries.

The market changes so much that one can point at time periods where used cars were a bargain BUT in more recent times the incentives on the new cars has been the wild card . The large discounts seen after the 2008 economic dip --not just in Porsche --but with all cars --has changed a lot of buying philosophies.

Conclusion -- A think buying a car is changing event where on any given day a new car might be the better value and on another day it may be a used car . It depends on the car , the incentives, the region, the inventory (both new and used .. even private sales too) . So the right moment for the right car really comes down to the individual being in the right place at the right time.

He may drive off with a new car .
He may pick a used car .
As long as he picks a reliable car that makes him happy for a satisfactory price (after the entire experience of ownership is added up) .. then it won't really matter much .

 

I gotta say that the best deal does not appear when placing an order nor does the 'right' car generally sit waiting for my arrival. We buyers are at the disadvantage when walking in to order a new vehicle. That's why desire gets me : it's a combination of availability, access to test and interpret, an lust. I didn't need a new '09 but I want it within six months of taking the '07 c4 off the lot. Most of us can't just throw $100k at these toys but we can afford them, which is a mind set rather then a fact.

I never thought of 'Forever' when starting my lust with Porsche. As soon as the 4s was home I started considering the next possibility !

 

1) Placing an order does offer perks and drawbacks .
Perks -
a) Can configure with exact details
b) Can negotiate percentage discount and timline boundaries right on the contract - with a small deposit (500 -1000 bucks).
c) if that deal fails or disappoints .. it's not that terrible -the buyer still leverage for other dealerships to compete .

Drawbacks -
a) waiting
b) the unknown of whether the dealership will hiccup on some aspect of the original agreement even with a contract .

2) A car sitting on the lot offers some perks and drawbacks -
perks -
a) immediate availability
b) dealership needs to sell it asap (every day it sits on the lot it's a missed opportunity for them to sell that unit) -- buyer has the advantage --he can walk and still keep his savings --nothing lost for him except time.

drawbacks -
a) region may have demand . specific options/color/model may have high demand and a lot of buyer interest.


Whether it's 100K (new car) or 60K (used) for a typical three year period the difference in cost to own may not be as amazing as one might think when all the numbers add up.

Much depends on that individual -- ( buying the car , selling the car , servicing the car, and factoring in his investments and how well or poorly they performed over that specific period of time) .

 

This is my advice to you. If you are not sure of the car you are buying then go used but if you are 100% convinced this car will meet your needs then nothing feels better then a customer spec'd one. I know I would have kept my cars a lot longer (530-4 years) if they were spec'd to what I wanted. The irony of this all is that when you buy something CPO'd that is not a good fit flipping it becomes both financially and mentally easier. My M5 was not a perfect for me and I drooled at the ones online that were, it was easy to let go. My Bike (K1300R) is the exact perfect fit for me but its so hard to let go of even though I know next year I will not be doing any riding and want to get a Porsche to fill the sports kick need.

I wish I had this approach before but like I told my wife, if buying what I want means I have to work two extra months to pay it off then so be it.