Quote:
Originally Posted by ryem3
Flawed logic if you take a look at the market. You can't buy a new one for $145k, that is the sticker price. Cars are going for $30k over.
Check the auction market. Auction cars have sold for $130k. So how the heck is anyone going to get one for less?
This market isn't like the market for a Camry. If course the M2 will depreciate. Maybe everyone will hate the s55 M2 and the old cars will go up in value (haha). I won't count on that. The market for the M2 is a want it now market. At the moment. That will fade, if you want to wait and keep driving your Camry.
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Give it time. I acknowledged that up until now, the first 3 years of the 991, the value retention has been nothing short of spectacular on these cars. But my prediction is that they will drop ~20% soon. Because for one the lease returns are starting to come back, and owners want to unload them and recoup some of the "equity" they have in the car. As I pointed out before, residuals are set crazy low on these. Many of the sellers will run out of time, as their lease will expire. We are just now entering this phase. Maybe buyers at auctions feel like $130k is a deal, I don't now. More power to them, but there are plenty on autotrader in that range. As a matter of fact there are 200 used ones for sale used on that site.
You are probably right on dealers still asking $30k over. It's ridiculous. But honestly, if I had the means, I probably still rather spend the $30k mark up, because from a dealer you can lease the car and save on the taxes and get better rates than buying it used. AND, on these cars chances are they were tracked excessively, so why buy someone else's thrashed car, only to save a few hundred dollars per month? I haven't done the math, but what would the payments be on a used $130k GT3, financed at 72 months, versus leasing a new one from the dealer? I know my buddy pays about $2500/month leasing his, and he will sell it for $115k after 3 years, then pocketing $30k because the residual is $85k. The car was heavily tracked or it would be a deal. Can't imagine that the payments on a $130k car would be much lower, if at all.