Understanding Porsche Brand

[Deleted User 4388]

Hi,
I am a brand new member on this forum and I wonder if I could call upon other members experience and knowledge to enlighten me.

I am interested in owning my first ever Porsche. I just can't get my head around the silly (sometimes more than list) prices of cars that are 1 to 2 years old! Indeed, even cars over two years old appear to be less than 10% cheaper than brand new. It appears that the values have substantially increased over the last 2-3 months. I totally get that the brand does not do discounts when new and they hold their value well. I know you will not get pre-reg examples, 6 months old, at 25% off list like BMW and Mercedes. However, why would you pay even near list price for a second-hand car which is unlikely to be your perfect spec, done upwards of 20K miles, has reduced original warranty left and had god knows how many different drivers all giving it a through good thrashing. I understand there is a waiting list for these cars new, but really, can a typical Macan owner not wait 3 months (at times I believe even less) for such a better overall deal. I'm I missing something here please?

I refuse, for the sake of saving about £5K on a £60K plus purchase, to succumb to these current frenzied prices of vehicles up to 2 years old. A wait and additional couple of grand does not bother me. Is this current market the result of supply issues/delays re Covid and/or everyone now spending their lock down savings? Do second hand prices usually drop a bit when a facelift model comes out? I don't know if to sit it out a bit and let the new facelift model filter through and allow things settle down a bit, or to say stuff it and just bang an order in for a new one and be done with it.

Any advice or comments would be greatly appreciated.

Thanks

[jmgreen100]

I've recently gone for a 3 year old car for the some of the same reasons you're encountering. Prices have risen significantly in my experience over past 3 months or so. Seems to be good old supply/demand issues. If you're prepared to wait then you can get what you want from new. The other issue is the semi-conductor global shortage (they're apparently used in everything). One of my friends works at a senior level in Citroen, and they've even had to revert back to good old fashioned analogue dials just so that they can continue to produce cars.

Apart from the near list price of a 2 year old car, the thing that swung it for me was when a dealer told me that the face-lift due in the autumn this year is supposedly quite dramatic inside. Car due to get the centre console totally revamped, losing the buttons and inheriting the gloss black touch sensitive setup from other cars (911, Panamera, etc.). I decided to go 3 years old, hold onto some cash, and then trade up when I can get hold of one next year or so.

Unfortunately I've had some issues (oil leak for one), so it's been back at the OPC longer than I've had it.

However, a quote I always remind my wife about when buying cars - "Quality last long after the price is forgotten". She hates it, but knows it's true!
Happy shopping

[jk88]

I don't know if to sit it out a bit and let the new facelift model filter through and allow things settle down a bit, or to say stuff it and just bang an order in for a new one and be done with it.

Agree with your thinking. If you can afford to buy new and happy to wait, put an order in now. You can always change your mind before lockdown (spec not covid ) and have your deposit refunded. New orders placed now most likely delivered early next year, so maybe 4-6 months to decide to go ahead or not based on reviews (and possibly test drives) and state of used market nearer the time. That's what I have done.

[Alfanut]

I understand there is a waiting list for these cars new, but really, can a typical Macan owner not wait 3 months (at times I believe even less) for such a better overall deal. I'm I missing something here please?

A very good post! No, you’ve not missing anything. The world is full of impatient people with too much money & easy finance. The fact that there are so many dull & awful SUVs fuels demand for Macans which are very good cars.
The Porsche brand is brilliant, genuinely good products in both form & function. But remember the dealers are (mostly) not Porsche.
The buoyant used prices right now are similar to early 2019 when I opted for a new car as opposed my normal target of a 12-24 month old car. But beware, the high used prices are not totally reflective of the cost of ownership which is still up there as most OPC’s are large chains run by aggressive accountants expecting large margins on sales & service! My Macan S cost about £66k, after only 15 months when getting the oil changed I was offered £48k (!), in April with the car 23 months old another OPC offered me £49k when they’d have retailed it for about £57-58k, which has now risen to maybe £62k. I’ve still got the car, once I get back to the UK I’m going to try & sell privately around the 56-57K if it goes fine, if not I’ll hold onto it for the winter.
By the sounds of it, waiting & buying new is the way forward for you, you’ll get a great car, with your own spec and hopefully a lower ownership cost than many rivals.

[SB19AV]

I'm in exactly the same boat! Starting looking at my first Porsche (2019 Macan S) earlier this year hoping to pick one up for up to £50k. There were plenty around but was waiting for the right spec (or near enough). One was available in Feb/March but the seller put me off. Now the same cars are fetching high 50s but are 6 months older!

OPC Solihull told me they were mad busy. Too much demand, less supply.

I've put down a deposit on a 2022 facelift and will see what trade-ins are available at the time then make a decision. Probably should have pulled the trigger in March and saved a bundle. Hey Ho....

[Madelvic]

My understanding is all used car prices are up. The awaited refresh will be a Gen 3 car (we've had Gen 1 and Gen 2) and if you look at used prices I wouldn't say the Gen 1 has taken a hit due to the arrival of the Gen 2.

Macan prices seem to hold up relatively well, but there is always a hit on reselling brand new cars. Plus, anecdotally OPCs seem to offer poor trade in values.

Personally I wouldn't pay close to list for a used car when a new one can be had for much the same cost (FYI I saved over £20k buying a 2 year old GTS)

[pmg]

I understand there is a waiting list for these cars new, but really, can a typical Macan owner not wait 3 months (at times I believe even less) for such a better overall deal. I'm I missing something here please?



Thanks

I think the fact you are missing is that with the closure of Gen2 order books and the wait for the announcement of Gen3 in late July with some pre-orders placed plus global post-pandemic demand for cars and chip shortage impact on supply of cars, the waiting period for a new Macan with many OPC's is currently more like 9 months than 3.

There was a similar cycle and impact with the delivery gap with Gen 2 intro and used prices rose ( or did not fall with age) in Autumn 2018 but fell back by late 2019 early 2020 when delivery times for new orders was back on average nearer 3 months. in spring 2020 with the pandemic it got down to 2 months in some cases

[CharlesElliott]

Are you comparing the 'base price' of a new car with the second hand prices? As most Porsches have 10K or more of extras on them, so that needs to be taken into account.

[SmallWheels]

I’m of the same view as the original poster. I preferred to order a new car exactly to my spec than buy someone else’s used equivalent. The premium to do this is quite small at present compared to the amount of money being shelled out. Unlike us there are some people who don’t want to wait for an order and are ready to pay elevated prices. One thing I would mention to check is the tax situation as the first owner has to pay extra road tax and this might not be reflected in the new price used when comparing.

If you’re someone who, like me, is happy with a lightly optioned car it’s better to buy new as so many of the used versions are loaded with things like pan roof, extra leather, big wheels and pricey trim enhancements. In the configurator today my exact config priced up at £53244 (excluding road tax). On the other hand if you want to tick every box it’s going to really cost you when buying new.

[MikeM]

Go new, when Macan’s were first introduced members here were trading in their used at a higher price than their replacements. Had to wait 18 months for my first one. You will not get a Macan anything under 3 months at the best of times unless there is an order cancellation, or in rare instances some dealer stock. Currently don’t expect much in the way of delivery until the back end of this year at best. Plus, due to high demand and low availability used prices have improved significantly.