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911 Trade in value - am I being screwed?

Posted: Tue Dec 03, 2019 3:30 pm
by DandyDon
In the OPC today for some wheel alignment work and inevitably got chatting to the sales people. To cut to the chase they offered me £54k against a 992 or Panamera. My car is an ex demonstrator which I bought with only 900 miles on it. It’s a 991.2 Carrera ( base model) registered in July 2017 with 11,500 miles. It’s had it’s first service. The original spec of the car came out at £96k so in just over 2 years the car has lost 44% of its value! I’ve been through Porsche’s used cars website and similar cars are selling for around £74k; that’s a very healthy profit of a staggering £20k for the OPC.

Am I being screwed? It feels like it but maybe I’ve been misreading the market. A lot more finance needed to get a new car than I thought.

Anyway I’d welcome any thoughts, comments and some comfort.

Re: 911 Trade in value - am I being screwed?

Posted: Tue Dec 03, 2019 4:06 pm
by VanB
I would expect 20% loss in year 1 and 10% in year 2 and in year 3 on a reducing balance basis. This is what I was advised by a Porsche buyer from one of the big car groups.

On that basis I would expect your car to be worth closer to c £69k with an offer from the dealer of about £64k so definitely way more than you have been offered.

Some people would argue that you should knock all the options off first (you must have about £15k's worth) but some options do have a value otherwise the car would be unsaleable. If you do this you come out with a value closer to £58k and then knock £5k off for a dealer offer which is £53k and is almost bang on what you've been offered.

Re: 911 Trade in value - am I being screwed?

Posted: Tue Dec 03, 2019 4:14 pm
by neilj007
...but similar cars are for sale at £70k and over...so £64k ish sounds right

Re: 911 Trade in value - am I being screwed?

Posted: Tue Dec 03, 2019 4:17 pm
by VanB
Agreed, Neil

Re: 911 Trade in value - am I being screwed?

Posted: Tue Dec 03, 2019 4:50 pm
by Wing Commander
DandyDon - Yes, it does sound like that is an exceedingly low-ball offer!

If you are looking to change, and if they won’t move, try other OPCs and/or top end independents.

Re: 911 Trade in value - am I being screwed?

Posted: Tue Dec 03, 2019 5:04 pm
by Macananon
I use autotrader to value my cars. Fairly accurate vif you counter in the desirable options and skip the unnecessary ones.

Re: 911 Trade in value - am I being screwed?

Posted: Tue Dec 03, 2019 5:32 pm
by VanB
Good advice Macananon - I've sold 6 or 7 cars via Autotrader in the last 3 years and found their valuations to be pretty spot on

Re: 911 Trade in value - am I being screwed?

Posted: Tue Dec 03, 2019 7:35 pm
by Paul
+1 for Autotrader. Create an advert (or sell my car...) and it will give you private / p/x prices.

Re: 911 Trade in value - am I being screwed?

Posted: Wed Dec 04, 2019 9:58 am
by Taz
It’s certainly worth trying other Porsche dealerships. I found up to £4K difference between two dealerships that are in the same group.

Try Wolverhampton as I have always found them to be very fair.

Re: 911 Trade in value - am I being screwed?

Posted: Wed Dec 04, 2019 10:11 am
by adam b
Their profit is usually about 8-10k so yes they are, esp as 992 and Panamera are not exactly flying off the shelves (unless they are giving you a very good discount on the new car). You need to look at both sides of the deal