A Porsche 911 GT3 that recently sold on eBay Motors

I recently had the chance to interview Dan Tsuchiya, Sr. Business Development Manager at eBay Motors. Dan is a big Porsche enthusiast, and I love eBay Motors with it’s endless possibility of great deals to be had, so I was excited to get his take on a few things.

What’s the best deal you’ve seen on eBay Motors from a buyers perspective?
A non running 996 (with clean title) for $5k in California. I only noticed and bid on it because I was looking for something like this since I had a spare drive-train to use. The thing is, there are deals like this going on with all makes and models on eBay Motors so you just have to look. We don’t yet have an alert system that spots a “deal” within the $50k plus listings (but that would be nice).

What’s the most outrageous car you’ve seen up for sale on eBay Motors?
Usually the movie or TV show cars are the best, not the most outrageous, but fun to read about. (Batmobile, replica Barricade from Transformers, etc.)

How about the most outrageous Porsche?
917 race cars, always cool.

What’s your personal opinion about the celebrity owned Porsches that have popped up on eBay Motors the last few months?  Think they’re worth the premium people have paid for them?
There are a lot of celebrity fans out there that also like nice cars. It’s a great conversation piece and can bring in higher value as long as there are others who share the same passion. The beauty of eBay Motors is the auction process proves this out. If you go into it for the love of the celebrity instead of the investment…you’ve got the right mindset.

Where do you see the best deals on Porsches being online?  Cars, Parts, Etc.?
Of course I’m biased, but you can find a lot of deals on eBay Motors. You can also find pretty good deals on forums, but these are sometimes difficult to navigate and are usually limited to local buying. For parts, forums do very well, like Pelican Parts, PCA’s site, and Rennlist. Given our vast selection, though, eBay Motors is probably where you’ll end up finding what you’re looking for, given both cars and parts are transacted on the site, and you have access to local, national and international inventory.

What are the top 3 tips you’d give buyers for purchasing cars on eBay Motors?
1. Reach out to the seller, get to know them and the car.
2. Get an inspection.
3. Don’t be afraid of dealers, especially for cars which were built within the past 10 years….our dealers back them.

What do you think about the horror stories buyers on eBay Motors have circulated over the years?
We have protections in place that make eBay Motors the safest place to buy and sell anything automotive online – things like seller feedback, vehicle inspections, free VHRs and Vehicle Purchase Protection. We always advise buyers to do their due diligence in terms of getting to know the seller, only communicating through the eBay platform, and taking advantage of vehicle inspections to ensure a smooth process. eBay Motors is a marketplace where literally millions of people transact on a monthly basis. With this volume, you do have the occasional issue, but it’s truly a very small percentage of overall transactions on the site.

In the Porsche category, for instance, what’s your take on the quality and representation of the sellers on eBay Motors? More legit than not or vice versa?
Within Porsche cars and parts, generally speaking the sellers and buyers are pretty knowledgeable about the products and are pretty aware of the online tools and communities out there. Because of this, the group as a whole is very legitimate and sell with high standards. Since we have a feedback system, try and navigate towards those sellers with a strong history of selling on eBay and if they are new, reach out to them.

Where do you see eBay Motors going in the next 3 to 5 years?
The world  is heading online due to convenience, we will see more users coming to eBay Motors because we are the largest site that has both vehicles and parts in one location and are transaction-based instead of lead-based. Parts and accessories will continue to be a big focus for us – cars on the road are almost as old as they’ve ever been, and we see quite a few folks coming to our site for repair, replacement and performance parts. We’ll also continue to improve the buyer and seller experience. We’re making the site more personalized overall for a tailored experience based on past history and the current vehicles you own, making it easier to quickly find exactly you’re looking for, which helps both buyers and sellers. Mobile will also be a big part of what we do going forward. In 2010, eBay generated nearly $2 billion in global mobile sales, which is nearly triple its mobile sales in 2009. Look for an eBay Motors mobile app coming soon, that basically puts eBay Motors in your pocket, allowing enthusiasts to browse, bid and buy from just about anywhere.

If you were going to shop for a Porsche on eBay, what would you be looking for?
1. History on the car, even if it’s a dealer, knowing where it came from and condition.
2. Inspection (third party).
3. Total costs including shipping.

What do you think about the other exotic car categories on eBay Motors?
Fantastic, whether you are looking for a Gallardo, 599, 250 Lusso, GT2, or Quattroporte…..you’ll find it on eBay Motors.

Thanks Dan for taking the time to answer questions. Check out eBay Motors here: eBay Motors. I check it nearly every day and love seeing the cars up for sale and find it a good gauge for prices overall.

This is just too good not to post. I’m sure most of you have already seen this, but in case you haven’t, you gotta check this out. This kid, Steven Oritz, started out with an old cell phone and, through a series of trades over the last two years, ended up with a 2000 Porsche Boxster S.

If you’re thinking about the guy in Canada who started with a paperclip and ended up with a house, this is the same kind of deal. Steven has done his bartering primarily through Craigslist’s barter section. It took him 14 trades to end up with the Boxster. Through the process he had stuff like a better cell phone than he started with, an i-Pod Touch, MacBook Pro, 1987 Toyota 4Runner, dirt bikes and an older Bronco valued at $15,000. Someone even offered him a locksmith business for the Bronco.

I love stories like this. I find them inspiring and love to hear how people think outside the box. Of course, being the dreamer I am, guess what the first thing I did was? Yep, went to the Portland Craigslist Barter section. After about an hour of searching, I started looking around the house for things to start with. Replicating Steven’s success would be a heck of a challenge and I don’t know that I’d have the patience to do it. It’s still fun to dream though.

Thanks to everyone who send in this story. Funny how quickly things like this spread.

[Source & Image: SGVTribune.com]

Similar to CARFAX, instaVIN offers Vehicle History Reports detailing known information about any used vehicle, most notably the accident history. This is critical information, of course, when deciding whether to purchase a vehicle and how this history might impact the value of the car. What sets instaVIN apart from CARFAX, though, is the ability to get this data not only thru their web site, but also via your cell phone.

Once you create an account on the instaVIN.com site, you can link your cell phone up to your account and enable vehicle reports via text messaging. This has the potential of being VERY cool when you’re in front of a car, but didn’t pull the vehicle history report to bring with you. An auction or last minute stop on a dealer’s lot would probably serve as the handiest locations for this feature. The tech geek in me loves the ability to use my phone for something like this though.

The Accident History Reports are only $1.99 for the first report and $2.99 for each additional report. That’s really cheap, especially considering how much a covered up accident could cost you in future repairs.

The instaVIN folks were nice enough to send me a code to try the system out and it functioned exactly as I expected. The online report I ran on a 2007 Porsche 911 Turbo (997) came up clean and the price valuator showed the price was in line with what the seller on Craigslist was asking for the car. Here’s a sample of what the online report looks like:

I decided to try getting an accident report from my phone for the second report. After connecting my phone to my account, all I had to do was text the VIN number to INSTA and within seconds I had a response showing no accident history and base values of the car. This particular car I found on eBay and showed no accident history, but did have a title issue reported in the auction. Although title problems can oftentimes be sorted out more easily than vehicle damage from an accident, it’d be worth it to pay for a more expanded report on a vehicle you’re interested in buying. To the right is a screen shot of what was sent to my iPhone.

In looking around the site, I found 2 other tools instaVIN offers on their site that are kind of cool:

• Vehicle Valuator – A tool that will give you values of the vehicle you’re looking for or trying to sell based on the local market. You plug in some basic things like Year, Make, Model and Zip Code and the tool will show you how many vehicles it knows about in your area matching your criteria and what the range of values are. This tool is free.
• Sale Documentation & Bill of Sale – This is a service/tool that comes into play when buying a selling a used vehicle. With step-by-step instructions, buyers and sellers can easily navigate through a properly recorded vehicle transaction. Once a buyer and seller have committed to the deal using the Pre-Sale Agreement and deposit slip provided with the service, they can then certify the sale with a comprehensive sales agreement including ‘sold as is’ and warranty clauses.  As a final step, instaVIN provides immediate access to a state specific Bill of Sale for all fifty states. Each step allows both parties to formally agree on all aspects of the sale without any hidden costs. This is well worth the $15.99 cost of the service to ensure you do the deal right.

All in all, the instaVIN service looks very promising and I love the pricing. It’s cheap and gets you the basic information in the Vehicle Accident Reports. Definitely a service worth checking out next time you’re in the market for a used Porsche. You can view the site here: instaVIN.com.

For anyone interested in using the service, instaVIN sent me 5 codes that will get you 2 reports for free. If you’re in the market for a used Porsche or other vehicle and want to try the service out, shoot me an email via the contact form and I’ll hook the first 5 people up with a code for the 2 free reports.

I just got back from picking up a car being worked on at Gran Prix Imports in Wilsonville, Oregon. By the way, if you don’t know who these guys are, read this post: Dealership of the Century. While I was in there, I decided to take a quick walk through the showroom. “Why not?” I always say. Might not have been such a good idea this time around.

Amongst all of the Ferraris, Lamborghinis, Lotuses and assorted Porsches, they had a 1986 911 Turbo Look in a cool silver with chrome wheels. The car was stinkin gorgeous. I’d actually seen it in the window the night before when my kids and I drove by for a quick look. I’ve always wanted a 911 Turbo, and this is the next best thing, even better in some ways, given that you don’t have the expense and maintenance of the Turbo (see how I’m already starting to justify it in my mind?).

As I was settling up for the car I was picking up from the service department, I made some comment about the 911 Turbo Look to the General Manager, Erik. Next thing I know, he’s pulled it off the showroom floor and around front. I walk out to take a look and after a few minutes he scoots me into the car along with my son and sends us off on a test drive.

I have to say, there really is nothing like the 80′s and early 90′s air cooled 911′s. Everything from the updated, but older interior to the floor mounted pedals requiring you to get used to that “over-the-top” feeling when you press them. The classic external styling with those nice big bulging lights, and the big flared fenders and whale tail of the Turbo styling.

Driving this car instantly transported me back to being a teenager and reminded me of everything I loved about Porsche growing up. It’s kind of revealed to me what my next Porsche needs to be. And this particular car was a blast without being way over the top. I loved not having traction control, but still had a hard time kicking the huge tires on the rear end loose. The brakes were unlike anything I’ve ever experienced in a Porsche.

Needless to say, it was lust at first site and love at first drive. I’m going home to lie down.

Here are a few more pics and some more details if you’re interested.

This is an exceptional and completely finished resto-rod 1986 Porsche 911 Wide Body Coupe.The gentleman who had it built spared no expense with this beautiful near vintage vehicle.

First the body was taken down to bare metal and factory steel wide body fenders were grafted on front and back and a factory turbo whale tail installed. The complete car was repainted metallic silver. The engine and drive train was removed and completely serviced, detailed and reinstalled. It runs beautifully and does not drip any fluid. The suspension was rebuilt and updated with new components giving the car a new lower ride height and a track oriented set up. The brakes were replaced with the largest modern Brembo rotors and calipers that could be fitted to this car. Then it needed a new set of Kinesis 3 piece wheels that would fit around the brakes and perfectly fill up the new larger fenders with aggressive sticky tires. The interior has been redone as well with white faced gages, factory sport seats and a new steering wheel. Check out the photos, this is one of the coolest 1986 Porsche we have ever had the pleasure to drive.This car could not be reproduced for anywhere near the asking price.

Check the car out at Gran Prix Auto’s site: GPImports.com

While looking for a Porsche a few months ago, I decided to take one of the cars I was considering in for an inspection before I bought it. The car happened to be a 1999 911 Cabriolet, only in white instead of the black one I actually ended up buying.

The natural place you think of going for such a service is the Porsche dealership, so off I went. I have to say, my experience at Sunset Porsche was pretty good. The service guys I dealt with were nice and answered a lot of questions. Other than going back and forth trying to get the tech on the phone who actually performed the inspection, it was pretty painless.

Here’s the thing though. Take a look at the sample of some of the pages, especially the cover page:

It’s probably a little tough to see, but the whole inspection report is like a bad photocopy from a bad copy of several originals ago. It’s got grainy effects from dirt on the copier, and the bottom is shifted left like someone put it in the copier crooked at one point.

Now I know it’s just paper a tech used, and the real value is in the service performed, but come on, can’t they print a fresh copy out for the tech to mark up? After all, this is PORSCHE. I can turn out a better doc than this on my little portable color inkjet. I just think it presents a poor image for a Porsche shop to give a customer this low grade report.

The service, which is really the whole point of the pre-purchase inspection, was really good. They spent about 4 hours with the car going over more things than I would have expected. All the usual stuff, plus things like measuring gaps, looking for fit and finish changes, etc. In fact, they found a few things that appeared suspect leading me to believe the car had been in some type of accident at some point, even though CarFax produced a clean report. I passed on the car for this reason alone.

Inspection Cost: $285

Although I hadn’t really thought of it ahead of time, I realized that there are lots of places that can provide inspections of vehicles you’re thinking about buying. One of the places I’m hot on at the moment is Gran Prix Imports. Take a look at their inspection report:

That’s much more in line with what I expected to see from Porsche. Covers pretty much the same stuff only much nicer looking. In fact, this one only looks a little beat up because I carried it around for a couple of weeks. Here’s the great thing…

Inspection Cost: $200

I’m quickly learning that you really don’t need to go to the dealership for much of anything. My first thought is always “the dealer will do it better” but that just isn’t the case. There are lots of little reputable shops and other places like Gran Prix Imports. Heck, Gran Prix is the Portland Lamborghini dealership. A different beast altogether, but the level of technical expertise and service required is at least equal to what Porsche would require, if not greater in my opinion. I’ve found their work on the Giveaway Porsche to be excellent. I’ve also talked to a couple of other Porsche owners who use them for their service work.

Bottom line, a pre-purchase inspection is a must unless you’re mechanical. Even then, the couple hundred bucks is a worthwhile investment to avoid a major ownership disaster. One piece of advice, make sure you go over the inspection with the mechanic who performed it. Preferably while the car is still in the shop.

Now you may write this off as not applicable to you unless you’re in the market for a used 911. Before you do that though, consider buying this book for these reasons:

1. It will educate you about the 911 series and offers great buying advice that is non-911 and even non-Porsche specific.
2. The more you’re aware now of what to look for when buying a used 911, the easier it will be to go through the process when the time comes that you’re ready to start looking. Also if you happen on a deal you can’t pass up, you’ll be more prepared to truly evaluate the car.
3. Come on, it’s a book about Porsche 911s! It’s interesting, has lots of pretty pictures, and is worth your time.

Before I get into what I thought of the book, let me give you a quick summary of what the author was trying to accomplish. He put it best at the end of his introduction:

“…to make the car shopping, examining, and purchasing stresses manageably low, so the driving and pleasure quotients remain very high.”

Leffingwell (sorry, we’re not on a first name basis) lays out a heck of a process to go through when evaluating a used Porsche. He guides you step by step around each area of the car and takes you through a detailed evaluation. So detailed is the process that I found myself wondering how anyone would get through this with a seller standing over you.

Next he goes through some of the specialty cars or the cars with special concerns such as Targas and Cabriolets, and Gray Market cars. The rest of the book is dedicated to each year, a synopsis of the year’s cars, specifications and specific problems, benefits and things to think about with each year.

I liked a lot about the book and found a number of things beneficial about the read. Here are my highlights:

• Pre-purchase inspection chapter. It’s by far the most detailed inspection I’ve ever seen. It’s especially helpful for a non-mechanical guy like myself. I’ve even started looking over the Giveaway Porsche and evaluating it for practice. Some of the stuff is a bit lofty if you ask me, but it’s an excellent standard to evaluate a car by.
• Year by year synopsis of each vehicle. I found this very helpful not only in determining what model year(s) I might want to buy, but evaluating a particular year as I found cars I liked. The specifications and rundowns were a nice summary and primer.
• Parts lists for each year. Helpful in figuring out what potential costs might be like.
• Garage watch for each year. It’s helpful to see the overlay of potential problems, features and benefits on a picture of a 911. Made it easier for me to remember things to look for when I went out to test drive and look at cars.

All in all, this is a great book for anyone interested in any Porsche models. It’ll prep you to be ready for the purchase process. I highly recommend this book. Buy it from Amazon.com here: Porsche 911 Buyer’s Guide

Evidently there are people who actually believe (or used to believe) that buying a Porsche was a way of buying into a depreciation-proof sports car experience. Although, in general, a Porsche should have a bit lower depreciation rate given their desirability and comparatively limited production quantities, the fact of the matter is they’re still going to go down in value. Even more so given the economic climate we’re currently faced with. Obviously.

I wonder, though, if some of the mistaken perception isn’t based more on “perceived depreciation” rather than an objective look at values using a formula that leaves emotional perception out of it (yes, I know depreciation is a concrete number and not a subjective perception). After all, when you take a $90,000 sports car and 2 years later it’s still worth $65,000, an example on Craigslist right now, the average mind doesn’t translate that too well. Both figures are out of reach for the average person purchasing a car, even though the vehicle has lost nearly a third of it’s value in 2 years.

Then again, maybe I need to lay off grandpa’s old cough medicine and start making some sense.

What DOES make sense (or perhaps doesn’t make sense depending on how much you paid for your Porsche) is the average depreciation for new cars, especially in that first year. On average, they say a new car loses 20% of it’s value the moment you drive it off the lot. Consider a $126,000 Porsche 911 Turbo Coupe as an example. That new car smell and the luxury of driving it off the lot is going to set you back as much as 28% or $34,000. That’s as nuts as the gibberish I was writing a couple of paragraphs ago.

Year 2 depreciation is darn near as aggressive at around 19% to 20%. Basically, you lose around a third of the value of your car in the first two years. More like 37% for a higher priced car like a 911 Turbo. Here’s an interesting chart from Cars.com:

After the second year, going forward you’re at a more reasonable 7% to 10% reduction of the car’s value per year. At some point, depending on the model, it may start to turn around or at least level off. That’s where the benefit of owning a Porsche comes into play. While other old cars are headed to the junk yard, your old Porsche is likely to end up being worth at least something.

Probably nothing new to most who read this blog, HOWEVER, back to my ramblings earlier on, when I look at the hard numbers rather my initial reaction based on perceived depreciation, it starts to make sense why I see 911s about 2 years old worth 65% to 70% of what they went for new. I had the misperception that due to the economy, we were seeing unbelievable blowout prices on pretty much new Porsches. When in reality, we may indeed be seeing cheaper prices due to not as many buyers, but the depreciation is still inline with generally accepted rates.

What brought all this on is I keep seeing several newer cars (2 to 3 years old) listed on Craigslist. Cars like a 2007 911 C4S Cabriolet for $96890 (new it was $149,610) and a 2007 Carrera S for $65,000 (new it was $90,000). It got me thinking about this whole Porsche values thing and what it’s really worth to be the first person to sit your butt in the owner’s seat of that sweet ride. Do you think either of those owners got $53,000 and $35,000 worth of new car enjoyment out of two years of ownership? For $53,000, you could darn near have your pick of used Porsches for sale in the Portland area at the moment.

After looking at several charts like the one above, I’ve come to the conclusion that unless I have “stupid money” sitting around, my best bet for buying a “new” Porsche would be one that is 2 years old.

So what Porsches stand the best chance of being worth something some day or at least may enjoy a slower rate of depreciation? Here’s what I’ve learned so far:

• Specialty cars like ones that have GT or RS in the model name
• Older Porsches such as 356s, 1960s 911/912s, etc. The older it is, the better chance it will hold value or possibly increase in value over time.
• Limited run models like Turbos, the 1998 Carrera 4S, etc., which also tend to be higher priced cars, seem like they hold more value. Anything that the general Porsche populace doesn’t have.

Bottom line for me, at this point in my life, is any Porsche is special. Fortunately I don’t have to worry too much about depreciation because I can’t afford something with a window sticker in it. My lack of money is solving problems left and right.

Duncan Blackmore in the letter to GT Purely Porsche Magazine summed things up nicely:

…instead of spending hours upon hours surfing the Net tracking values of your car and then logging on and crying about it online…just go outside and enjoy the car parked on your drive that you can no longer afford, whose value has descended into negative equity against the outstanding finance and when all’s said and done, is still one of the most thrilling cars money can buy. No matter how much/little it’s worth.

My sentiments exactly whether you’re buried in the car or have a screaming deal sitting in your driveway. It’s a Porsche…you “own” it…go enjoy it!

Info Sources: Cars.com, Yahoo! Autos, Craigslist, that thing we call the Internet.

Tempting Porsche #1

The first is a 2006 911 Carrera 4S that Joe, one of our fine PorschePerfect.com readers, sent our way. The car looks gorgeous inside and out from the pictures. Although I’m not usually a fan of tan interior, this is the second late model 911 I’ve seen in the last week that had tan interior I would love to have.

Here are some of the highlights from the ad:

Black w/Tan Interior, 6 Speed Manual, 45,000 Miles

Features Include AWD, Leather, Traction Control, MP3 Audio, Xenon Headlights, Alloy Wheels, Keyless Entry, Rear Spoiler, Self-Leveling Headlights, Rain Sensing Windshield Wipers, Headlight Cleaners, Automatic Delay Off Headlights, Automatic Climate Control, Stability Control and More!

Really, it has about every option you would want. Here’s the best part…

Price: $44,900

Based on my usual, “offer them at least five grand less” mentality, I bet you could start at $38,500 and come up to around $41,500. The car books on NADA.com for $65,975 Clean Retail. Sure that’s a little high even in the best economic conditions, but you’re still looking at a late model Porsche for nearly 1/3 off what it should come close to selling for.

Tempting Porsche #2

The second Tempting Porsche today isn’t quite as good of a deal, but I kind of fell in love with this car last week when I stopped by to look at it. Course, it doesn’t take a whole lot for me to fall in love with a Porsche, so maybe take that with a grain of salt.

This one is a grey on grey 2005 911 Carrera Cabriolet. Normally I don’t love colored wheels, but these look really sharp and “make” the car. It’s definitely like a lot of cars…it looks much better in person than in the pictures.

Here are some specs on the car:

Power everything, Traction control, Heated seats, AM/FM/CD/CD Changer, Bose premium sound, Alarm, Remote keyless entry, Memory seat, Paddle shift, Rain sensing wipers, Xenon headlights, Non-smoking owner, Factory warranty

Tiptronic transmission, Only 22,357 miles

Price: $46,995

Another one that is priced pretty far under book. The dealer claims Kelly Blue Book values the car at about $63,000. Nada.com shows the Clean Retail value at $56,900. If you could pick up the car for around $43,000 or $43,500, you’d still be well back of even the most conservative book value and have a great car you could just drive and enjoy. Now’s a great time to be looking for a convertible for the summer!

I had the following conversation today with “Pepe” (name changed to protect the innocent):

“Pepe”: is this the red version of the one we got?
“Pepe”: http://portland.craigslist.org/mlt/cto/1029430309.html

Ryan: looks like it
Ryan: although ours isn’t the “Nicest 996 Cabriolet ANYWHERE under $30k”
Ryan: that’s a decent car. been up for a few weeks on CL

“Pepe”: this kind of stuff is what I’d expect someone driving a Porsche and claiming to be a card carrying member would say
“Pepe”: “I am a longtime Porsche owner and member of the Porsche Club and can honestly say this truly is the cleanest, best documented 996 Carrera Cabriolet in the state.”

Ryan: ha! yeah
Ryan: doesn’t matter though b/c NO ONE IS GOING TO BUY YOUR CAR

“Pepe”: I’m sure he has access to every Porsche in the state and all the documents for them

Ryan: call it “rare”
Ryan: call it “the nicest car in the state”
Ryan: call it “made of gold”
Ryan: you ain’t gonna sell a 996 Cab for $30k in this economy
Ryan: well, maybe if it was made of gold you would

“Pepe”: sounds like it’s time for another ‘rare, my asphault’ post

Ryan: I know it’s all about pitching your car, but I have developed pet peeves for people who make the “rare” and “nicest car” statements

“Pepe”: “Best investment you will make. ”
“Pepe”: this guy is more honest
“Pepe”: http://salem.craigslist.org/cto/1012806243.html
“Pepe”: paint is rough
“Pepe”: interior is 90%
“Pepe”: way better to do it that way

Ryan: yeah
Ryan: give me an honest assessment of the car, stop trying to bs your way into a sale
Ryan: it only makes you look like an idiot

“Pepe”: exactly

“Pepe”: oh…I found the under 1500 race car
“Pepe”: http://salem.craigslist.org/cto/995325396.html

Ryan: ha! “drives nice”
Ryan: whatever

I’ve been intrigued by that concept ever since. My biggest problem is I know next to nothing about the mechanical workings of a car. It’d be kind of like a 1st grader playing the stock market. Although, based on the performance of my mutual funds lately, I sometimes wonder if a 1st grader could get better performance out of my portfolio. But that’s a topic for another day.

With the economy the way it is, I think we’re presented with some unique opportunities to possibly employ the “Drive a Porsche for Free” concept. After all we’re seeing lots and lots of Porsches go up for sale, sit on the market for a while, only to have their prices lowered by owners and dealers who really need to sell. Sure you’re playing the odds a bit by not buying the absolute best car for your money, but the goal in this scenario is not a long term keeper, but a short term freebie.

Also, you may need to settle on a model, year, or style you might not normally choose as your “permanent” Porsche. Maybe a cabriolet instead of a coupe, or a Boxster instead of a 911. Maybe you could consider a Cayenne instead of a Durango or Tahoe and get the best of both worlds. You might have to look at a color you wouldn’t normally buy or one that needs some internal cosmetic work that could prove to be some fun projects for you and a family member or friend. My theory is as long as it’s mechanically sound, and hasn’t been in a wreck, you should be able to get back out of it fairly easily if you buy it at the right price.

With that in mind, here’s some cars that seem like reasonable enough or even good deals to possible get into, then back out of in say 12 months when the market starts to turn back around.

Deal #1
1997 Boxster
Ad Details: Black exterior, 97,000 miles, 5 speed, Black leather, Excellent condition
NADA Clean Retail Price: $11,850
Price: $10,000 – I’d offer $8,500
Thoughts: Not an ideal year for the Boxster in terms of features, power, etc, but a dang lot of car for under ten grand. Leaves a fair amount of room to even do some cosmetic stuff and a fix or two on the cheaper end.

Deal #2
2001 Boxster S
Ad Details: Black in/out, 58,000 miles, Carbon fiber trim, Premium sound, Recent service
NADA Clean Retail Price: $19,925
Price: $17,000 – I’d start at $15,000
Thoughts: More bang for the buck and a newer car with fewer miles. A great daily driver option for the price of an entry level sedan. Plus the chances of driving it for a year without a lot of work leaving you the potential of getting out at even money.

Deal #3
1999 911 Carrera Coupe
Ad Details: Burgundy paint, Black interior 73,000 miles, Usual options, Premium sound, Turbo twist wheels
NADA Clean Retail Price: $27,275
Price: $18,995 – I’d make an initial offer of $17,500
Thoughts: This is the best deal of the bunch if the mechanicals check out. This should leave plenty of room for taking care of the little stuff and still be able to sell it when the market turns around. Plus you get A LOT of car for the money in my opinion.

As with any used Porsche, it’s worth the little extra investment to have your local Porsche dealer do a full pre-sales inspection. The Porsche dealer in my area charges $285 for this and it’s very thorough. I have also had other shops do inspections for me such as a local exotic car dealership that sells a little bit of everything including Ferrari, Lamborghini (they are the local new Lamborghini dealership as well), Aston Martin, Porsche and Lotus. They charged me $200 for a pre-sales inspection. Other options would be local mechanics specializing in Porsche. You definitely want to know what you’re getting into, so that you can enjoy the car for a year without getting nickel and dimed to death.

Some tips I found while looking for the 911 Cabriolet we’re giving away:

1. Watch for cars that have been listed online or in print for a number of weeks. Obviously the longer the car has been sitting, the better chance you have at making a deal.
2. Don’t be afraid to make contact with a private party and/or dealer, sound them out, and make an aggressive offer. I’m not advocating that you start low-balling every car on Craigslist, but by making contact, you’ll get a sense of how desperate someone is to sell. Take advantage of their need to sell, and your desire to buy.
3. Look at as many cars as you can in your area. Different parts of the country are responding differently to the economic conditions we’re in among other factors. For instance, in Portland, November, December and January seem to be THE right time to buy a convertible. It’s raining (or worse) here and everything is thinking SUV. I’ve lived with a convertible for several years in a row as a daily driver in the past and handled the rain and snow just fine PLUS I had top down fun on those rare warm spring days while everyone else was rattling around on the road in their SUV with studded tires.
4. Don’t get emotionally attached to a car. This is the #1 problem when buying any car…new or used. Get emotionally attached to finding a killer deal.

One last example. I saw a later model 996 Turbo online with “MAKE AN OFFER!!!!!” at the end of the post title. I emailed the owner and found out he had another car coming and really needed to sell this car. He was already listing it for $11,000 less than he’d paid for and put into it just last year. His exact words were: “If you are at all interested I think this could be a “killer” deal for you.” He was needing to sell it and told me to pitch him ANY offer.

You can gamble on a lot of things in life, but not many that will be as much fun as driving a Porsche. You may call me crazy for even thinking about short term Porsche ownership not costing me an arm and a leg, but I think it’s very possible and within reach for many, if not most, people. At the very least you’ll have had a blast driving the car while you had it and shouldn’t come out too bad on the other end even if you end up with a less than perfect car.

Anyone have a “great deal” story to share?