MY06 base CPO pricing help please

[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.

[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.