If the price markup is overinfltated then let's compare the actual cost against a new car . I agree that "timing" is not important if one is only talking about a small markup of 3-7K but when the scale is tilted at 15K over what its really worth then my view is no car is worth it .

Even a new porsche 911 which has no miiles and less doubts about the car's history offers more positives than the over inflated used car with this type of profit margin .

 

Then let the market buy the car . Why should anyone who actually and knowingly understands the current price bubble submit to it ? On a whim? And on credit (more than not) ?

I can almost understand (and even feel some pity) for the person who hasn;t followed the prices over the years and thinks he got a great deal out of ignorance but to actually know and still buy into it is (in my opinion) irrational spending . There's no end to the list of items which one can over pay for .

Thus --
In my opinion if anyone learned anything from the economy and pricing of 2008 it's at least to evaluate each expense .

 

This will be my last post in this thread since I think we all have our minds made up here, but how do you know what the dealer gave for trade on that car, or any particular car for sale right now? When I traded my car in in June I found that the trade-in value was also quite high and as mentioned, I know what they offered it at on their website and what price they would sell it for. And my trade-in sold in under 2 weeks, it wasn't sitting around while someone offered $10,000 off their asking price. Which would be a loss for them based on what they gave me. Fact. Not opinion.

I believe you are confusing your opinion of worth vs. actual market conditions.

 

1) I have no idea what the dealer paid for the car but that's THEIR problem . I do know that in 2009 I bought my 2009 car brand new and got 20 percent off and I was NOT the only one on this forum.

2) I also know that there were so many cars in production that year that cars were being rejected by dealerships as they sat on a boat and the incentives on those cars were unbelievable.

3) Actual market conditions ? Are you trying to say that if some buy into an irrational illusion it become fact ?
In case you haven't noticed .. a lot of these overpriced used cars remain unsold for MONTHS .

4) It sounds like you want to buy a car and are willing to pay extra to have it . If so .. then why not just buy a new car ? Why even bother to look at used cars and ratiionalize that you are saving anything ?

 

Yep..

Maybe some forgot what thse cars actually sold for back then . It almost makes keeping the car sound like a bargain .

I'm keeping mine .

 

Ah well, it is just a difficult time to scratch the Porsche itch. Even if you "overpay" on today's market, that is what it takes to get a car in today's market. Easy analogy is paying over sticker for a hot new model. Three years later you're going to get creamed on the depreciation, but you enjoy the hot new model first.

 

+1 exactly.

 

Well, someone bought it! Not there today when I stopped by and they said it was sold. Oh well, I will keep looking.

I appreciate the input from everyone.

 

Believe it not... the next one to come along will be even better.....So many beautiful cars out there....

Somehow we have to find the purchase price on that darn car....

 

2009 was a very good year......

 

That's shocking considering it was priced $15,000 too high and would surely sit around as a result

Keep looking, the hunt is half the fun. During my search I showed up on my b-day to test drive a 911 that my dealer had just put on their website a few days prior....I showed up only to hear that someone had just wired the money for it that morning. Luckily a month and a half later an even nicer one showed up. You'll find what you want.

 

You are right. There were many unsold cars in '09. Most who bought in '09 got 20%-23% off MSRP. You were lucky because you probably can come very close to selling your car yourself at retail for what you paid for it back in '09. In '09 I remember seeing a 5 month old '09 C4S PDK with 2K miles. It had a original MSRP of $121K and was advertised at the dealer for $89K. Like many other people I was worried the sky was still falling out of the economy and did not buy. I regret not buying a Porsche in '09 today.

Things changed in '10. Porsche re-allocated much of it's North American production to other more profitable and growing economies like China. Dealers in the States got much less allocation so prices bumped up a bit. I think prices are holding due to much less supply?

Porsche was not the only deal in '09. Because of the economy most sports cars were a deal, many still are good deals. On impulse I bought a new, left over '09 370Z in '10 for $3500 below invoice. That was about 20% off MSRP. I was going to sell the Z in last March but the trade in number was too low so I decided to drive it another summer. Then Japan had the disaster in May and production was delayed for many Japanese brands. The used car price started to climb as a result. I sold the Z private party after driving it for 16 months for exactly what I paid for it brand new minus the sales tax.

Some dealers are indeed sitting on inventory for months. I am hoping for some of the used C2 PDK CPO or C2S PDK CPO inventory to come down a bit when the 991 arrives in Feb.

The weird thing in the Midwest is the lack of inventory, new or used?

The used car market is very unique right now due to the unstable economy. It is as if all normal rules don't apply?

 

A lot of folks bought homes in the midst of that price bubble which are now worth half (in my region). Not to mention the dot com era of high flying tech stocks ("Nasdaq 5000") .Just because someone buys does not mean it's a rational value.

That's the nature of a price bubble.
All the behavior (of that car being sold) shows is a follow the herd mentality .
Or maybe .. that buyer in ignorance had no idea what folks paid for those cars in 09 .
But you do.......
And even if you think mine is a rare example .. use the search feature and read what others paid.

When that owner goes to sell it and CPO no longer is in effect and it's considered an old car .. then see how the owner smiles .

 

You are right that. Plus they are sitting on cars for months . I traded in an M3 in May and that car was impeccable . They still have it . Rye's 07 997S also can be found listed for sale . I feel that if one faces over paying then at least buy a new car and negotiate that as best as one can .

Oddlly enough I found two new cars at another dealership close to the one where he found that used car . They weren't 4S cars but they are a GtS and a c2S (both Cabs) . The 2011 C2S is only 20k more MSRP than the 89K on that used 09 car and both are optioned nicely.

I believe the rules do apply but there's always going to be the one sucker who pays 10 -15K more than the car is worth and justifies to himself that because the car is used that he actually saved money over a new car.

To the Op .. whoever bought that car did you a huge favor .
Sincerely .. I hope you find your dream car .

Good luck.

 

Bingo !!!!