The Used Car Market Will Crash

[robg]

Originally Posted by lemming

PDK-equipped cars? Yes. Softened market.

I’m not really seeing it soften all that much for true manuals. Which seem scarce everywhere.

The GTS that recently sold for $132k still got 98% of MSRP, five years later.

Looking through Porsche's CPO finder website, the prices of PDK 911s still strike me as pretty high. Here's an example:
https://finder.porsche.com/us/en-US/...reowned-OZ5VM3

71k for a white 2013 Carrera S with 64k miles? Granted that's just the asking price..but still

[lemming]

Originally Posted by robg

Looking through Porsche's CPO finder website, the prices of PDK 911s still strike me as pretty high. Here's an example:
https://finder.porsche.com/us/en-US/...reowned-OZ5VM3

71k for a white 2013 Carrera S with 64k miles? Granted that's just the asking price..but still

When there’s a choice of a manual for a non-essential car, I’d be the first to challenge any/all of us to drive the manual and to compare to the DSG/PDK.

I think 9 times out of 10, we would all get the manual for the non-essential car.

[robg]

Originally Posted by lemming

When there’s a choice of a manual for a non-essential car, I’d be the first to challenge any/all of us to drive the manual and to compare to the DSG/PDK.

I think 9 times out of 10, we would all get the manual for the non-essential car.

Agreed...that's why I"m surprised that used PDK 911s are still priced as high as they are. For the right price (and warranty), I could probably be swayed into owning a PDK car for a few years though.

[lemming]

Originally Posted by robg

Agreed...that's why I"m surprised that used PDK 911s are still priced as high as they are. For the right price (and warranty), I could probably be swayed into owning a PDK car for a few years though.

Re: PDK out of warranty……..yikes.

I don’t have confidence.

[SCA]

Originally Posted by lemming

When there’s a choice of a manual for a non-essential car, I’d be the first to challenge any/all of us to drive the manual and to compare to the DSG/PDK.

I think 9 times out of 10, we would all get the manual for the non-essential car.

Absolutely! In my stable only two automatics exist and it is only because that is all that is available. Hopefully by the end of the month only one auto tragic will remain, the X5.

BTW, I recently had a base Boxster loaner with a PDK. Total snooze fest!

[lemming]

Has it crashed yet?

[JST]

See the other thread. I don’t think it has crashed but the interest rate hikes are having an impact, I think.

https://bringatrailer.com/listing/20...man-gts-4-0-5/

[lemming]

Originally Posted by JST

See the other thread. I don’t think it has crashed but the interest rate hikes are having an impact, I think.

https://bringatrailer.com/listing/20...man-gts-4-0-5/

This makes sense. Allocations are still so hard to get right now. I guess I thought the limited availability cars would still fetch decent money.

[JST]

Both of these cars were bid close to MSRP, so I think they’re still fetching decent money. But the 20k over sticker premiums are probably harder to maintain now.

[SARAFIL]

Originally Posted by lemming

Has it crashed yet?

It seems like it’s in a point of transition, but it depends on the car.

High end luxury cars are starting to cool - people either a little scared to spend the money or strained on what they can afford with rising rates. There is also still a disconnect with dealers sitting on aged inventory that they bought 60-90-120 days ago at inflated prices and they are hesitant to take the loss, but if they had to cash out at auction they would take a blood bath. Fresh inventory does feel like it’s coming online at slightly lower prices. No longer seeing a lot of these cars listed at original MSRP for 2-3 year old models though like we saw earlier this year.

(Case in point, have been watching 2020 X5 prices since I paid off my lease earlier this year. Several comps for my car still listed at $70k+ but most have been on lot 60+ days and I’m not sure they will ultimately sell with a 7 in front at retail. I’ve also been tracking cash offer for my car and it’s been slowly dropping every month, but the bottom hasn’t fallen out either - still easily $10k+ above where my lease payoff would have been)

Cheaper cars, EVs, etc. still really strong - not seeing any signs that market has cooled yet.