MY06 base CPO pricing help please

[stephen wilson]

People probably hate these threads, but I need a reality check on my first porsche.

I am looking at an '06 base boxter with 18" S wheels, Xenon lights, sound package plus, traction control (standard?), 14,500 miles, CPO until 4/30/2012, at Danbury porsche in CT. Cars.com asking price 34,900 , down to 31,800. I know it's not a steal, but it seems to be a reasonable price, thoughts?

Thanks,
Steve

[dbw]

Here in Canada that would not be too bad. But seeing what you pay in the USA re list price I would think you might do better but then again is the car a one owner, full service records, bought and sold at that dealership etc.....these are things that to me make it worth more....so maybe the price is good. Last spring I paid $27Cdn for a 04 base Boxter with 35000km, 2 yr cpo, one owner etc and I was fine with the price. Good luck with your decision. It's a great car. I should have got one years ago.

[stephen wilson]

This is a one owner car, I will be asking for the service records, and the some other details. The price is a 1-2k below what Edmunds, NADA, and KBB list, for what that's worth. There are some '06's with ~27,000 miles listed around $29k at non-Porsche used car dealers, but those "generic" dealers worry me a little.

[sd_boxster]

Seems like a good price for a low annual mileage Boxster. That said, I'm sure the dealer would prefer not to have a three-year-old non-S Boxster on the lot bringing down the average price of his inventory.

IF you are willing to buy the car today for $29K, tell the dealer you've seen similar cars at other lots for $29K and will buy it for that price. Assuming that car was traded in semi-recently, the dealer has a few grand to work with (high trade-in for that car per KBB is $26.9K).

Throw out your number, let them chew on it for a while, and be prepared to walk. In this economy, the dealership can't afford to let you walk... but you have to be willing to play the game. Be prepared to walk out - leave your phone number and remind them that you are ready to buy that car, today, for that price, but not a dollar more.

Another tool in the bargaining toolbox: How are you planning to pay? If you were planning to pay cash, don't. Put 10 down and finance the balance. The dealer will be more inclined to accept a lower price if you settle for a higher interest rate. If you have the means to pay cash, finance it, take the lower price, and pay the car off when your first statement arrives. Of course, you need to ensure there's no penalty for paying off the loan early, but I have never actually seen a loan agreement with a prepayment penalty.

Good luck! I hope this is the Boxster for you - but remember that there are loads of used Boxsters out there - don't fall in love until AFTER you own it!

[gschotland]

Check fleaBay for closed auction prices as well as kbb.com for trade in values. The first should give you a good idea of fair market prices and the 2nd should give you an idea what the dealer paid for the car at auction and how much room he has to work on the price.

Looks like $25-$28k is about the right price range depending on options. There's no shortage of those cars around. Someone posted recently that they got a 4k mi '08 non-S with a $56k sticker for $40k.

[Flavor 987S]

My advice:

1) Ask for a print out of the DME, and post your ignitions for the six over rev ranges the DME stores. There should be none in ranges 3-6. There will be some in range #1 and a few, if any, in range #2. Do not buy the car until you see this multipage report.

2) Buy the "S".

3) Here is the CPO language:

"ThePorsche Approved Limited Warranty offers full
peace of mind that in the unlikely event of your Porsche
developing a fault, the affected parts will be replaced or
repaired as required*** with no deductible. The warranty
coverage is limited to the following components:
• Engine: Engine block and all engine internal parts,
cylinder head(s) and valve assembly, oil cooler(s),
head gasket(s), manifolds, flywheel, chains/tensioner,
oil pan, oil pump, exhaust manifold, turbo charger,
clutch master and master and slave cylinders, and
all related engine seals and gaskets if related to
warranty repair.
•Transmission:Transmission case and differential
housing(s) and all their internal parts, clutch master
cylinder, clutch slave cylinder, torque converter, flex
plate, and all seals and gaskets.
•Drive Train: Torque tube, drive shaft assembly,
center bearing assembly, and drive axle with
constant velocity joints.
•Suspension & Steering: Steering wheel, rack and
pinion steering gear, power steering pump.
•Cooling System: Water pump, fan, thermostat,
radiator thermoswitch, and all related seals
and gaskets.
•Heating/Air Conditioning: Heater/air conditioning
regulation controls, a/c clutch, compressor,
condenser, evaporator, control unit for climate control.
•Fuel System: Fuel injectors, throttle valve housing,
air flow sensor, intake air distributor, intake manifold,
pressure regulator, temperature sensors, control
units, warm-up regulator, fuel distributor, fuel line,
air pump, and all related seals and gaskets.
•Electrical System: Fuel pump, oil temperature
sending unit, turbo charger water pump, alternator,
voltage regulator, starter, radiator fan switch,
ignition coil, ignition distributor, hall sensor, knock
sensor, distributor cap(s), rotor, ignition cables/
connectors, high beam switch, all electrical motors,
pumps, and all control units for the following factory
installed systems (if
equipped): Anti-Lock
Braking System,
supplemental restraint,
wiper/washer, intensive
headlight washer,
headlights, door lock, power
windows, rear wiper, rear
hatch release, spoiler,
cruise control, factory
alarm, Porsche Dynamic
all-wheel drive (Carrera 4),
limited slip differential (928),
tire pressure warning (928),
central information panel,
on-board computer, and
climate control.
•ABS Brake System
(if equipped): ABS wheel
sensors, control unit,
modulator, ABS
hydraulic pump.
•Supplemental Restraint
System (if equipped):
Air Bag control unit and
airbag sensor.
•Brake System: Master
cylinder, brake pressure
regulator, brake pressure
accumulator, brake booster.
Limitations.


The warranty does not cover:
•Batteries damaged
from storage
•Batteries damaged from
lack of use
•Tires damaged by
road hazard
•Tires damaged by
premature wear
•Parts that fail due to lack
of maintenance
• Normal wear and tear
• Cleaning and polishing
• Lubricants
•Air conditioner
refrigerant charge
•Glass Breakage
•Vehicles originating outside
of USA and Canada
•Unauthorized modifications
•Wheel balancing and tires
Validity.
For added convenience, your
Porsche Approved Limited
Warranty coverage is included
in the purchase price. Since
the warranty applies to the
vehicle rather than the owner,
it remains intact and can be
transferred with the private
selling of your Porsche.
Porsche Roadside Assistance.
Your Porsche Approved vehicle
also comes with Porsche Roadside
Assistance, an exclusive support
service that offers added security
when travelling at home or abroad.
In addition to breakdown, accident,
transport and recovery, the
program includes a range of other
coverage services. Please see
your dealer for more information.
Peace of mind.
With the added security that
comes with comprehensive
warranty cover, you can now
look forwardto many thousands
of miles of even greater driving
pleasure from your Porsche.
*** Warranty Coverage: Porsche Cars North
America will repair or replace with a new part
distributed by Porsche Cars North America,
at its sole option, any factory-installed part
that is faulty in material or workmanship under
normal use. Warranty repairs will be made
free of charge for parts and labor at an
authorized Porsche dealer. "

[stephen wilson]

Thanks for your replies. The dealer is offering 2.9% financing, which would be my first option. The cars offered for $29K have 25,000 miles and no CPO, so I will probably offer $30K.

I did check Ebay, very few cars actually sell there, but there were many high bids of $30K for a comparable car that didn't sell. I don't think 25-30 is realistic for this particular car.

I would love buy an S, but I'm already at the top of my price range. A 987S would have over 30K miles, and/or be in poor condition, for me to afford it. Thanks for the CPO information, I thought about buying without the cert. to save some up-front money ( which the dealer may or may not do ). The overrev report is also a good idea.

Steve

[sd_boxster]

Offer lower than what you're willing to pay. Start at 29 - even if you don't think you'll get it for that - and then start bargaining. Parts from the service dept. for life at cost (I saw that one on this forum AFTER I bought my 986, dammit!), a free detail/RaggTopp treatment/whatever.

Sounds like you're close - good luck!

[gschotland]

Originally Posted by stephen wilson

Thanks for your replies. The dealer is offering 2.9% financing, which would be my first option. The cars offered for $29K have 25,000 miles and no CPO, so I will probably offer $30K.

I did check Ebay, very few cars actually sell there, but there were many high bids of $30K for a comparable car that didn't sell. I don't think 25-30 is realistic for this particular car.
Steve

Don't undersell yourself. Be aggressive. There are LOTS of these cars around. It's absolutely a buyer's market. Prices aren't going up.

Yes, you're right, not much sells on eBay. Lots of unrealistic sellers, mostly dealers. What's telling is where the bidding stopped for the cars that didn't sell. To me that's as much an indication of fair market value than the ones that did sell.

I've got to disagree with your assumption that a little higher mileage car is going to be in worse condition than the one you're looking at. Some people take phenomenal care of their cars, others less so. I've seen many pristine Boxsters with 50k and ones with 25k pretty beaten up.

[stephen wilson]

I'll have to get out and look at as many cars as possible, to better judge what's out there. I'm not terribly good at this, only having bought one car from a dealer in my life!

[Flavor 987S]

Mr. Wilson, be patient. There are a ton of Porsches for sale right now. And take a skill negotiator with you, if you don't have much car buying experience. Ask your parents, spouse/g.f. someone at work to help you. It took me 20 months to find my next addition to the p-car family. That's right, almost 2 years!

No one needs a Porsche. These are just toys. So, don't finance the car. Pay cash. If you can't pay cash, you can't afford the car*. Move on. Find something else. This is why there are so many Porsches for sale. People don't own them (the bank does), and can't afford them. So they go back to the dealer and/or get listed for sale. Under duress. Have about 10% of your purchase price in reserve funds. You might need this to sort out a used car, and you don't want to have buyers remorse.

Get out and look at some cars...and drive em. Take your time. The journey is very fun and rewarding.



*If it is your DD, I could see having a loan, but then again, I would never drive a Porsche daily, to the office or to a customer's office/meeting. But, that's just me.

[tomk17]

Stephen,
I sent you a private message as well but you may want to check out the "Classifieds" section on the left of this forum. I'm located in Massachusetts and am selling my 2006 Boxster with 13,900 miles. Other details of the car are listed in the Classified add. Danbury Porsche is about 1/2 way in between us. I am negotiable on the price listed and it may be beneficial for both of us to talk. My contact info is listed there should you care to reach out to me. Tom

[stephen wilson]

I'd have to wait 4 years to buy cash! I do have $10K to put down, and my other car has been paid off for years, so I'm not worried about financing it as long as the monthly payments are reasonable.

Tom, I'll check out your ad, though I've been looking for a Black or Red car.

Steve

[stephen wilson]

What is the conventional wisdom on buying from generic used car lots? All of the Boxsters for sale at the lower end of the price scale are obviously not from dealers. Private party sales would be ideal price-wise, but there's very few out there, especially if you're looking for a particular color.

[Flavor 987S]

SW, if you only have $10K available you need to wait a little longer, IMHO. You are 41 years old, and have only ever purchased 1 car from a dealer? That makes no sense to me, and doesn't need to, just a thought.

You really don't have $10K:

-$3,000 (reserve fund for "sorting 'out" used car, you will spend this amount sooner than later!)
-$1,000 (insurance, just a guess)
-$1,200 (your first set of tires)
-$200 (your first oil change)
-$1,500 (sales tax, just a guess)
-$250 (title, and plates, just a guess)

So, now you have about $2,850 for a down payment.

Have you fully funded your 401K for 2009 ($16,500)? I say, take the $10K and put it towards your retirement fund. Any credit card debt? Pay that down too. The Porsche(s) can come later.

Porsches are fun!

Being responsible is not.

[stephen wilson]

Yes, 41 and 1 new car, sounds odd! I keep my cars a long time, and don't drive many of miles. I still have my only new purchase, an '89 Toyota PU with 180,000 miles. Also a '65 Mustang, decidedly used, '99 YZF600 I actually bought new, and a 2000 K2500 to tow my Formula Ford, (Private party sale for $22,000).

I have been maxing out my 401K contribution for several years now, and never carry a credit card balance, paid off each month.

I've been putting $400 a month into a savings account for close to 2 years to make sure I can handle a monthly payment. With 10K down various purchasing costs my payment would be $435 max.

[Flavor 987S]

Good job, SW! I am a huge advocate of a debt free lifestyle. Don't forget, you can also put an additional $5K into a Supplimental IRA each year, above and beyond your 401K, for you and your spouse (if you are married). How are those college tuition funds doing for the kids (if you have those too)?

[stephen wilson]

Thanks. We don't have any children, nor will we, that's why I can afford to have toys! I do have a little work to do on my wife's retirement savings, but her University retirement plan in not too bad (until they change it!).

Steve

[stephen wilson]

Thanks. We don't have any children, nor will we, that's why I can afford to have toys! I do have a little work to do on my wife's retirement savings, but her University retirement plan in not too bad (until they change it!).

Steve

[gRed04]

Originally Posted by stephen wilson

What is the conventional wisdom on buying from generic used car lots? All of the Boxsters for sale at the lower end of the price scale are obviously not from dealers. Private party sales would be ideal price-wise, but there's very few out there, especially if you're looking for a particular color.

You will get lots of good advice here. The board is a great resource.

Lots of good to great deals to be had from private sellers but personally I think you are right to consider CPO cars.

If you have researched here you understand there is some risk with all Porsche engines from 99-08. Costs can be quite high if it needs to be replaced ( 5k used - you install, 13k porsche reman. - dealer install, 20k aftermarket w/install ).

While CPO will probably cost about 3k over a comparable private sale it may save you the headaches should you be unlucky and have engine issues.

Best of luck however you go.