As said there are advertised prices and selling prices and right now, especially with Porsche, they are miles out.
Performance Car Values - They Be Crashing
- Thread starter Housey
- Start date
I tried to spec a 992, but after 15 hours in I only managed the get through half the options
As with all new 911's there are a lot more options to come.
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- Joined
- 18 Dec 2008
- Posts
- 150
Each deal is different and the challenge is to work out how much fat there is on the bone and where to pitch your offer.
Housey - why are you looking to change the R8? I'm now in a gen2 v10 plus and it's a great car.
Fancy a change.
What’s really causing these huge drops? Demand falling through the floor with brexit coming up? People want cash ready for better opportunities? Or just massive over supply as we get to the end of an unbelievable finance/pcp boom?
All of the above.
Lots of cheap pcp deals coming to an end, residuals have been holding too high for a long time. New models coming out left right and center.
Supply and demand added to the time of the year, uncertainty in the marketplace and people finally realising the good times of overs can't go on. This has happened before and it's nothing new, but there have been people, many who should know better, suggesting this was now 'the market'. The whole overs thing has lasted for 3 years plus on some brands, most noticeably Porsche GT cars, Ferraris and the initial McLarens and the manufacturers have had it good. Now the market is finally readjusting and we have lots of people coming to the end of PCP's so oversupply of cars added to dealers not wanting to buy 2nd hand cars for stock across many brands.
Imagine if you bought a 911 GT3 a year ago at 30K overs. You have sat on that thinking "I'm good here" but have feared using it as 5K miles will consume that. Then all of a sudden you decide to sell it and your friendly OPC all of a sudden offers you 20K under list price, the right price of course. You have over leveraged the finance and based your PCP final payment on over inflated 'current market' prices so in that year you've paid off 8K and put 10K in but now face a big hole. So people rush to get out of their cars, dealers full up with stock and boom, we are where we are today. A simplification but basically that's what's going on.
In a real value world, a GT3 today should be a 80K to 90K car for a Mk1 991 GT3, it's been a 130K to 150K car for 3 years, for a car that was £110k to £120K list lest you forget. GT4's were 25K over list FFS, a Cayman, good yes but 110K good? I remind you I paid £86K for my R8 V10 Plus with 3K miles on the clock. I felt I would lose 30K on that in 2.5 years and I called that about right. Imagine if I had both the GT3 and stuck 30K miles on it and coming to sell it now. £70K trade offer on a car I paid £145K for. Damnnnn
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I think what we are seeing happen now is people who locked themselves into PCP deals on cars 2-3 years ago thinking they'd make a mint now reaching the end of that deal. People who bought a GT3 at £180k thinking they'd keep climbing instead watched them fall, and found themselves in a situation they could not get out of as it would have cost them 40K cash to sell the car. So they probably kept it and waited to the end of term. Now the marketplace is gonna be flooded with them. Last time I checked OPCs had more GT3s for sale than regular Carreras - everyone that wanted one has either already bought, or couldn't afford the silly prices before but is now wary because they're tumbling.
It hasn't helped that too many were sold because finance became very cheap. I did a video on the GT3 dilemma. It was quite popular. The comments section full of people who have been shafted by greedy OPCs, which cannot have helped.
It hasn't helped that too many were sold because finance became very cheap. I did a video on the GT3 dilemma. It was quite popular. The comments section full of people who have been shafted by greedy OPCs, which cannot have helped.
Ill bite, link!
Video on GT3s, this was made six months ago, I think much of what I suspected was happening came to pass
https://www.youtube.com/watch?v=RJ739X8SSCk&t=1374s
Also of interest and a similar topic is this video on why McLarens depreciate at such a rate
https://www.youtube.com/watch?v=4SmqNaUqTGo
Neither are action packed videos, and both are long. I recommend listening to them rather than watching.
https://www.youtube.com/watch?v=RJ739X8SSCk&t=1374s
Also of interest and a similar topic is this video on why McLarens depreciate at such a rate
https://www.youtube.com/watch?v=4SmqNaUqTGo
Neither are action packed videos, and both are long. I recommend listening to them rather than watching.
Cool channel, watching your m135i in the wet video
@JayEmm welcome to the OcUK forums, I am a subscriber to your channel and enjoy its content, particular the Caterham video's you did.
I've made the decision to pay of my F-Type SVR and simply keep it, though my depreciation is only a year later in the 10k region, I suspect it could reach as high as 20k but time will tell, but my losses on the SVR will be far less than if I made the decision to drop into a 570S or GT3 now, so whilst holding onto the SVR for another 6-12 months may lose me another 5-10k I feel buying a GT3 or 570S I'd be losing a lot more and I am still not even sure if i want to get rid just yet as the SVR is such a great daily car something which the 570S or GT3 may not prove as well at, though I do own other cars to fall back on.
I've made the decision to pay of my F-Type SVR and simply keep it, though my depreciation is only a year later in the 10k region, I suspect it could reach as high as 20k but time will tell, but my losses on the SVR will be far less than if I made the decision to drop into a 570S or GT3 now, so whilst holding onto the SVR for another 6-12 months may lose me another 5-10k I feel buying a GT3 or 570S I'd be losing a lot more and I am still not even sure if i want to get rid just yet as the SVR is such a great daily car something which the 570S or GT3 may not prove as well at, though I do own other cars to fall back on.
Yeah buddy, drop me an email at [email protected] to discuss further.
Also my mate has a real nice car collection and though he won't let the classics out he does have a 800HP S550 Mustang, which to date is still the quickest car I've ever been in for in-gear acceleration, even more stomach churning than a 720S which I've been fortunate to passenger in.
It's pretty obvious that the high end car market is dropping as the next generation of vehicles are on the horizon, and the current ones will no longer offer the fastest acceleration, to speeds etc.
I'm sure if you are a car collector you won't mind being left holding the baby, and hope it becomes a classic, but unless you have to have stupid loud noise, ICE is going to be a hard sell to anyone but the very rich or those who want to hang on to the past.
I'm sure if you are a car collector you won't mind being left holding the baby, and hope it becomes a classic, but unless you have to have stupid loud noise, ICE is going to be a hard sell to anyone but the very rich or those who want to hang on to the past.
Not true, the older Cayman GTS are holding value awesomely because of the new turbocharged variants sounding total naff and as such can be picked up for good pricing. Just like the NA 911 GTS.
Its the 100k plus bracket been hit hardest where prices were simply a bit of joke, no way a GT3 second hand should cost more than new, the market seems to now be going through a correction phase on the 100k plus bracket.
I know for myself EV has zero interest to me, for me its all about noise and performance, I am not interested in performance without noise, I love the sound track of a car and nearly all turbocharged cars sound poorer compared to their NA/SC versions and EV cars sound, well there is no sound.
Yep people want petrol cars when it comes to sports cars, especially "purist" petrol cars.
Lower down the market they are all holding their value now pretty much. Classics like the S2000 and s1/s2 Elise are going UP. Even my gt86 still has half of it's value after 5.5 years which is nuts.
Lower down the market they are all holding their value now pretty much. Classics like the S2000 and s1/s2 Elise are going UP. Even my gt86 still has half of it's value after 5.5 years which is nuts.