997 values, can I get some pointers?

[doublesnaggle]

Hey guys,

Im looking to buy a 997. I found one I really like but when my bank runs the value (they use kbb) the value is far lower than the asking price. Im trying to find places on the internet where I can verify value. A 2006 997 C2 with a GT3 Wing and Front Bumper @ 40k miles and no damage. No navigation. is showing about 36k on kbb. The seller is asking 44k. Thats pretty far off and the bank doesnt buy it.

[Mijostyn]

There are several different values. KBB usually quotes wholesale prices first that is the "trade in" value. Next will be private sale and above that Dealer retail. Any car that is less than 8 years old and has less than 100K miles on it, and HAS NEVER BEEN TRACKED can be certified by a Porsche dealer. All deficiencies are corrected, the car gets over a 100 point exam and if it passes you get a 2 year unlimited mile warranty up to 100K miles. This adds at least $2500 to the cost of the car plus whatever has to be corrected. The Aerokit does NOT add any value to the car. In street driving the nose is a pain in the a--. You will NEVER be able to avoid scraping the chin spoiler. I should know as I have one. I keep a spare on hand and after the thing gets ratty enough I hang a new one. You have to haggle! If you really have to have the car do not let the seller know this. If you do not know what to look for find someone who does. Deficiencies will lower the value of the car. A very clean car will be worth more. I would never get a used 911 that was not certified. 36K is probably the bottom value or close to it. A really clean certified car with that mileage might go up to 50K. If your bank is giving you a hard time you may have to come up with a higher down payment or get a letter from a dealer stating what the accepted retail value of the car is. You have to keep in mind that just because you buy the car used it is NO less expensive to repair if something goes south. The Warranty is worth its weight in gold.

HAVE FUN.

Edited May 7, 2013 by Mijostyn

[0356kid]

doublesnaggle,

How long have you been looking for this car? Although you will pay more, have you gone to a few dealers and looked at their CPO 997's? Don't be in a hurry! It took me 6 months to find mine as i was very, very picky. Ultimately, I ended up buying one from the dealer and I know for more $ but as Mijostyn says, the CPO coverage provided piece of mind for me. Good luck in your search!

[doublesnaggle]

I have JUST started looking recently. But I really found what I like already. So its hard not to find a way to make it happen. I am a little worried about a car that has been driven so little. I know its not good for the engine to just sit.

[eso1968]

Based on my experiences with used Porsche or any other 2nd hand cars in the past years, 1st, do shop around more, test drive various samples and feel the differences, check previous records (prefer to buy one with full service records), although you might end up paying more but do choose the one in better condition, specially check if there is oil leak from engine bay (this cost quite a bit of budget to repair). Apart from these, make sure the car has "0" accident record as mechanical problems can always be solved by replacing parts (just a matter of money) but body damage has always been my major concern with their finish quality.

I had a 996 C2 which was my 1st Porsche purchased from dealer, the price was quite fair but after purchase I had to spend quite a bit for oil leaks and bushings issue as I did not do much comparisions, 2 years after I decided to sell the car and was shoppoing for a 997. I test driven a few selling via 2nd hand cars website and ended up buying mine from my mechanic friend's client, my mechanic know the full history of the car and I know exactly what I was buying, ended up paying more than the previous sample I tested but 2 years owning the car now I have had only very minor problems such as water pump and sensors.

I am sure there should be lots of price references on the internet to cross check. Happy shopping.

Edited May 9, 2013 by eso1968