Quote:
Originally Posted by NoGaBiker
You are so right. My brother bought a 2002 C2 Cab 6speed new for $96k. It was a 3rd car so by 2008 he had put only 17,000 miles on it. It was perfect -- garaged all day, under a car cover inside. Never driven to work. Not a tiny stone chip, interior and wheels perfect. Spent 3 months trying to sell it before getting an offer of 40k and settling on $42k. THe second owner got the world's best deal on a sportscar!
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Did he sell it in 2009 or 2008?
A $54K depreciation over 6 years isn't too bad.
The interesting thing would have been to see how much he would have been able to sell for at the height of the credit bubble when the car was only about a year out of warranty. I'm guessing holding onto the car for those last two years cost him at least $25K. Dumping water-cooled Porsches turned out to be a lot like dumping houses before the crash.
The interesting was that the Cayman and Boxster prices didn't crash as hard because their prices weren't up that high in the first place. Yet another good reason to buy your luxury used. At times the credit market has a cold blooded way of giving Porsche mark ups/margins a swift reality check.