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What is the "value" of my car?
up4speed - Sunday, 22 May, 2011, at 11:39:30 pm
Hi guys and gals,
I finally transferred from PPBB.com to this board. I have been inactive for a while. I am probably selling my car, but I'm having trouble finding a fair asking price. When I look up the value on Kelly Blue Book, it seems WAY too low to me. My car is not the average Boxster S that you will see. It is a 2001 Boxster S, Speed Yellow (this may limit my market), with a black top and black interior. It's a 6 speed with only 5,600 miles!!!
I am located on Long Island, NY and I was the only owner since new. This car has been garage kept since day 1 and NEVER saw even a drop of rain or snow! It was properly broken in as per the owners manual. The oil was changed yearly even though I only put a few hundred miles a year on the car. I have all the documentation, including the window sticker. The only non factory item is the battery, and the Lloyd floor mats (I obviously have the originals also). The windshield washer fluid tank even has fluid from the factory in it!! There is not even one blemish on the car, it is in unbelievable shape. I know it loses a lot of value because of it's age, but like I said, the condition is as it left the showroom.....actually it looks better because it has a few dozen coats of Zaino polish...lol.
Can you guys tell me what you think it's worth and/or how much I should ask for it? Thanks!
Chris
Your car is worth...
Pedro (Odessa, FL) - Monday, 23 May, 2011, at 9:03:32 am
... whatever someone else is willing to pay and you accept.
The numbers that you'll find on KBB and others are average values for similar cars in your area.
Obviously, the condition of the car (perfect) adds some value to it, but believe-it-or-not, the extreme low mileage may detract a bit.
In my market (South Florida - one of the most competitive in the US) I'd say, based on what you've mentioned, that your car's value is between $17,000 and $18,500.
I do tons of Pre-Purchase Inspections, many on pristine cars such as yours.
Unfortunately these cars (Boxsters) won't be collectables.
There were too many of them built, so they're not appreciating in value like the older, more exclusive Porsches.
The longer you wait, the less it's value.
Why don't you keep it and enjoy it by DRIVING the heck out of it?
They actually are incredibly fun cars.
Happy Boxstering,
Pedro

Pedro Bonilla
1998 Boxster 986 - 311,000+ miles: [www.PedrosGarage.com]
PCA National Club Racing Scrutineer - PCA National HPDE Instructor - PCA Technical Committee (Boxster/Cayman)


Racecar spelled backwards is Racecar

"Racing is life. Anything before or after is just waiting" ... Steve McQueen as Michael Delaney in "LeMans"

"If you wait, all that happens is that you get older"... Mario Andretti

"Being second is to be the first of the ones who lose" ... Ayrton Senna
Re: Your car is worth...
up4speed - Monday, 23 May, 2011, at 9:43:23 am
Wow Pedro,
That's what I was afraid of!! That is seriously low!! Believe me, I didn't not use it on purpose thinking I was going to keep the value up. I never buy a new car, not expecting to throw money away.
I just love cars too much, and can't stand seeing them not perfect (when it's a toy). Even my daily drivers are amazing, but obviously they can't be 100% perfect like a limited use car. All that said, you are right, maybe I'll keep it when I get my new one and give it to my wife as a toy for her. I can't see selling it for that low. Maybe I'll advertise it for high, and hopefully find a buyer like myself that would be willing to pay a substantial premium for a perfect car. Thanks,
Chris
Re: What is the "value" of my car?
longislander1 - Monday, 23 May, 2011, at 10:29:21 am
Given that my pristine '05 S with 14K miles is probably worth in the mid- to upper-$20K range, Pedro's evaluation sounds about right. If you do want to sell it, I suggest you enter it in some LI car shows and put a "for sale" sign on it.

Metro NY PCA was supposed to have a concours yesterday, but I didn't see anyone there when I showed up at 1:30 and weather was on the verge of rain. If it actually was postponed, the rain date is June 11, the location is Old Westbury Gardens and Porsche drivers can enter free. If you don't want to put your car in the show, park it in a prominent spot with a "for sale" sign on it and the top down. I bet you'll get some bites. I've had people gather around my car at that venue and mine's not even for sale.

Huntington Porsche also usually has a show in late summer and you might find newbies there who are ready to take the P-car plunge. You might even do better at other shows, where someone will fall in love with it and might not care/know about the potential engine issues affecting these cars. There are scads of car shows across Long Island at this time of year and you can usually enter your car for nothing or a small registration fee. You can also take it to cruise nights in Bellmore, Oyster Bay and other places.

A lot of people who don't know the brand think that these cars are out of their price range because of the Porsche badge. You could certainly take it to a show, slap a sign on it with a $22K price and you might find some potential buyers amazed that they can get that much car in that condition for the money. That's what I'd do if I wanted to sell it and was trying to get some premium for the condition and low miles. Good luck!
Re: What is the "value" of my car?
up4speed - Monday, 23 May, 2011, at 1:27:05 pm
Islander1, that's exactly what I was thinking (car show idea). Is the Porsche show definitely on June 11th? How can I find out? I will definitely take it there if weather permits. Do I just show up with the car, or do I have to pre-register? Unfortunately, I may be greedy. I still think it's worth way more than 22K also......again 5600 miles!!! I know its not a limited production, or "special" car, but it is absolutely PERFECT! I was hoping for closer to 27k - 30k. I am not unreasonable though, I understand that it is only worth what someone is willing to pay. I am one of those people that would be willing to pay that premium for a car like mine. In the past, I have done very well getting premiums for the vehicles that I sold, because of the way that I care for them. Actually, I usually sell my old cars to people who know me personally. I wish I had a friend like my self, that has better cars than me, so I can upgrade with premium priced used ones! LOL. I would still save 1/2 over a new one! Once again, thanks for the advice and please let me know how I can find out about that Porsche show, maybe I can take offers and see if there is a pattern on the price. I will probably eventually have to sell it for what it is really "worth", not what I think it's worth.
Re: What is the "value" of my car?
longislander1 - Monday, 23 May, 2011, at 2:47:38 pm
When I got there, a crew was setting up wedding tents on the field where the cars normally are. However, the site -- www. metronypca.org --doesn't show any re-scheduling yet, so you may have to check back or contact them.

IMHO, you're going to turn people off by overpricing the car. I just got interested in a 2000 BMW M5, 7,600 miles, that was being advertised by a local dealer without a price listed. My research indicated a value of $25-$30K. I was planning to go look at it and then the dealer posted a price of $59,000. Now, I wouldn't go near it.
Re: What is the "value" of my car?
up4speed - Monday, 23 May, 2011, at 11:23:51 pm
Quote
longislander1
When I got there, a crew was setting up wedding tents on the field where the cars normally are. However, the site -- www. metronypca.org --doesn't show any re-scheduling yet, so you may have to check back or contact them.

IMHO, you're going to turn people off by overpricing the car. I just got interested in a 2000 BMW M5, 7,600 miles, that was being advertised by a local dealer without a price listed. My research indicated a value of $25-$30K. I was planning to go look at it and then the dealer posted a price of $59,000. Now, I wouldn't go near it.

I understand what you are saying about turning people off, I may just ask them to make a fair for both of us offer. If there is enough interest, I will probably get a pattern of what it should sell for. BTW, I just sold my 1997 Dodge Grand Caravan with 138,000 miles for $3,300, Edmunds.com showed the value at $1,653!! That's more than DOUBLE of private party value. I actually only asked $3,100, but there wound up being a bidding war! LOL It's a long story.....needless to say I'm happy. The reason I told you that, is so you can see the quality of care that my cars receive. I also sold a 1996 Impala SS when it was 5 years old (to buy the Porsche) for $2,000 more than I paid for it brand new!!! (they stopped making those impala's) I also had a bidding war on that one, but I didn't want to deal with a long distance buyer just to make an extra 1-2k. I am keeping my fingers crossed that I have the same luck with this car. It should be very desireable to the right person, it is absolutely awesome. Oh by the way, you guys are probably going to yell at me and bash me. But the reason I'm selling is so I can get a Nissan GTR! I was originally going to get a 911 Turbo, but the Nissan is better performance numbers (0-60 in 2.889 seconds!) (equal to the turbo s($160,000), or maybe even a little faster) for WAY less money and my insurance company (Allstate) say they will not even insure 911 Turbo's, they are on a do not insure list! The GTR is only $430 / 6 Months!
the Turbo.

Nissan may have better numbers (there's a lot of argument/discussion about Nissan supplying ringers or worse, etc.) but spend some time in a Nissan and a Turbo before you buy either. I'd never sat in one but the reviews of the Nissan praise its performance but damn wtih faint praise the rest of the car.

You did well with the van. But you had help: With the recession recovery taking so long people are instead of replacing their older vehicles with new ones are instead buying used vehicles and this has the demand for used vehicles up and this drives up the prices.

Sincerely,

MarcW.
Quote
MarcW
the Turbo.

Nissan may have better numbers (there's a lot of argument/discussion about Nissan supplying ringers or worse, etc.) but spend some time in a Nissan and a Turbo before you buy either. I'd never sat in one but the reviews of the Nissan praise its performance but damn wtih faint praise the rest of the car.

You did well with the van. But you had help: With the recession recovery taking so long people are instead of replacing their older vehicles with new ones are instead buying used vehicles and this has the demand for used vehicles up and this drives up the prices.

Sincerely,

MarcW.

Marc,
I have to admit, I was also shocked that the van sold so easily, and for a good amount. What was the problem with the insurance company when you filed the claim for your Turbo?
As far as Nissan's go, I have had no less than 4 of them, and I never had any problems. I think a fuel pump on one after 90K miles. I actually like the way they drive, and they have been very reliable. The 2012 GTR is way better than the older ones. They made a few small refinements, including interior bits. The engine also produces 45 more HP, and gets better milage!! My only concern is the service department. I have to admit I am concerned about giving a $90,000 car to a typical Nissan tech. I was assured by the dealer that the only people allowed to touch that car, are certified GTR techs. I'm sure it still won't be the same experience as the Porsche dealer where the service writer and mehanic know me by name. I never even had any work done, that's just from yearly inspections!! I am starting to think that I should just keep the Porsche also. If I can't get a good amount, I can keep it for 20 more years and have a cool classic!! lol
You are so right
mikefocke, '01S Sanford, NC - Wednesday, 25 May, 2011, at 7:36:45 am
Put my wife's 72k '01 Acura TL up for sale on the Raleigh Craigslist. Priced it to move at $6,499 which was right below what dealers were asking for 120k cars. But expected trouble selling since I'm 50 miles from nowhere. In 3 hours had 3 people begging me to hold the car and they would bring full price. Guy buying it just totaled a similar 200k '00 TL.

I'm surprised to get that much out of an 11 year old car. True it looked good and needed nothing. New Michelins. So there may be some truth to the notion that used car prices are robust. That is two cars sold in the last 2 weeks in 3 hours each with people in line to buy.
GT-R brakes
Richard H in Pcola - Thursday, 26 May, 2011, at 2:55:40 pm
Has anyone else heard the $8000 rumor regarding the GT-R and brakes? Something about pads alone cannot be changed ...
One other suggestion
longislander1 - Monday, 23 May, 2011, at 11:06:37 am
You might try listing it on Bring a Trailer (www.bringatrailer.com) where they feature collectible cars, including interesting late models with low miles.
Re: What is the "value" of my car?
BoxsterBob - San Carlos - Monday, 23 May, 2011, at 12:23:39 pm
Stephan (Boxterra) had a good writeup on PPBB that I used several years ago. Perhaps it can be resurrected.
Re: What is the "value" of my car?
BoxsterBob - San Carlos - Monday, 23 May, 2011, at 12:27:16 pm
Quote
BoxsterBob - San Carlos
Stephan (Boxterra) had a good writeup on PPBB that I used several years ago. Perhaps it can be resurrected.

Hmmm, I'm not sure how this post ended up here, it was intended for the AM antennae thread.confused smiley
My checkbook is safe. cool smiley *NM*
Gary in SoFL - Monday, 23 May, 2011, at 4:35:12 pm
Not too heavily optioned. Full leather and PDK are the two that come to mind. White with black top and black leather.

At the same time I looked at a 2011 Cayman (base), with a 6-speed manual, and 19" Carrera wheels. That's it. Oh, meteor grey.

Sincerely,

MarcW.
Quote
MarcW
n/t
Do a road trip and come get it!!! You can double the miles on the car by the time you make it home. lol
It reminds me of a Corvette I sold. I had a guy in Elmira NY interested. He's about 3.5hrs away from where I live. He was unsure about wasting his time coming out, I don't think he trusted me when I described the condition. Let's face it, everyone calls their car mint, when they sell it. I was so confident that if he saw it, he would fall in love (once again, the condition was amazing...all stock and a car show winner). I asked him......do you want a 1993 Vette w/ a black interior and a stick shift? He said yes. I said, if it is absolutely perfect, would you pay $23,000? He said yes. I then said, I'll bring it to you. It was funny, he was a little nervous, but I said if you don't want it, I will turn around and go home, no questions asked. Long story short, I had my brother follow me up with his car. When the guy saw it, he said he couldn't believe how perfect it was, he said he never expected it to be that perfect. Needless to say I left there without the car. He was also nice enough to toss my brother $100 for gas and food for the trip, and helping me get the car to him. I have definitely had some interesting car sale stories over the years. I wish I could just be happy and stick to one car for a while. It would save me a ton of money!
of buying another Porsche (been walking by a nice new white Boxster S ($65K) at the local dealer off and on now for a few weeks and next to it are a couple of nice looking Cayman's) but the money I'd lose on depreciation getting rid of my cars coupled with the money I'd have to come up out of my pocket would go a long way to keeping both of my cars on the road a while longer yet.

Today even got a call from a family member telling me about a friend's husband who bought a Mini Cooper a while back and what a great car he thinks it is. I remember looking at IIRC 64 Mini Cooper S models (most it seems in laser blue) at a nearby Mini dealer a few weeks ago. More than a few cars were optioned just about the way I like a car optioned and priced right (dealer asking around $25K but I think would take less -- my how times have changed!) and I could leave some money in the bank with the 0.9% financing that was being offered.

But I resisted then and I will continue to resist.

Anyhow, thanks for the invite.

I'm sure you'll have no problem selling the car!

Sincerely,

MarcW.


She's calling your name!! Just trying to tempt you more...lol (sorry for bad quality photo)
least for a while.

For the next few weeks or so my focus is on finding another place to live. The property management/owner of the condo have agreed to release me from the lease so I can find a quieter place to live.

Sincerely,

MarcW.
then be high. I haven't done any recent market research in used Boxster or Cayman prices.

Sincerely,

MarcW.
I was asking $34k because I am in no rush. I wanted to "test the waters". I don't expect to get the 34k. I actually was hoping for 26 - 30k though. If it only demands 18k, I will just keep it. I would feel like I am giving away an essentially new car if it went under 25k. I guess my wife is going to get a nice toy huh?
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