I went to the local Porsche dealership the other evening to consider trading my beast in for a pre-owned 997 TT, but mentioned up front that I would need to get a reasonable trade-in-value to do a deal. They came back to me (which includes putting my car back to OEM) offering me $58K for my car; another dealership offered me $65K
My car is fully optioned purchased new back in November with 11K currently on the odometer. It has the SMG, space gray on black, full leather, etc... Additionally, I never take my car to the car wash; always hand washed and waxed at home so the paint still looks new and the car smells new on the inside.
They then proceeded to show me what our cars were going for at auction which ranged from $58K-$68. I am sure if I pushed them more they would offer me like around $63, but still that is total BS!!!
I don't want a TT that bad to stomach such a hit!
__________________ 2007 997 Turbo: Artic Silver/Black; six speed; Aluminum trim interior; adaptive sport seats; sports chrono package; full leather; aluminum seat backs, and more goodies to come !
(Sold)2008 BMW M5: Space Gray/Black, Heads up display, Comfort access, NAV, 20% Tint, 7 Speed SMG, Heated Seats, Manderia wood trim, , Sirius satellite radio, IPOD connection, Full leather, K&N filters, RPI scoops, Evosport pulley, 20" Maya RM1, H&R springs, Eisenmann Race exhaust
(SOLD) 2006 BMW M5:Sapphire Black Metallic/Black
(SOLD) 2003 Silver Grey M3 Cab
Last time I checked, auction prices for above average units were in the low 70's. I am considering the same trade on a 07 CPO 997TT or a 08/09 C2S. I was offered $60-65k for a 6sp 08' M5 with 3k miles with a MSPR of around $94k.
I looked at it this way:
When I bought my M5, I also shopped the C2S which was a MSRP-$2k deal. Now you can get the same car for MSRP-$10k. So that $96K car is $86K OTD. So if you traded the M5 for a C2S then you have $21k after trade + 1500 in sales tax= $22.5K out of pocket.
Keep in mind a M5 $65K trade is like $70k private sale in my state because of the sales tax offset. So with private sale at $72k, the C2S is $14k+$6k sales tax=$20K. So for $2.5K I get to unload the car versus trying to find a private buyer that will pay closer to the highest end of the auction prices for a 6sp car.
A CPOd 997TT may not make sense given current price levels of TT cars....still tough to justify considering it would be about $50k+M5 trade for a used 997 TT. I can keep the M5, let it depreciate to nothing and still have the $50k in my pocket.
The reality is that if $65k is offensive, I would drive it and forget the TT
__________________ 2008 M5-Silverstone/Black/Alum/6sp CA, SC Doors, M-function, Rear shades, fold down seats, Ipod/Enhanced Sound
Kcdude, very well put. I whole heartedly agree with your comments.
__________________ 2007 997 Turbo: Artic Silver/Black; six speed; Aluminum trim interior; adaptive sport seats; sports chrono package; full leather; aluminum seat backs, and more goodies to come !
(Sold)2008 BMW M5: Space Gray/Black, Heads up display, Comfort access, NAV, 20% Tint, 7 Speed SMG, Heated Seats, Manderia wood trim, , Sirius satellite radio, IPOD connection, Full leather, K&N filters, RPI scoops, Evosport pulley, 20" Maya RM1, H&R springs, Eisenmann Race exhaust
(SOLD) 2006 BMW M5:Sapphire Black Metallic/Black
(SOLD) 2003 Silver Grey M3 Cab
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