Porsche 718 Forum banner

1 - 20 of 30 Posts

·
Registered
Joined
·
7 Posts
Discussion Starter #1
Whats up with trade values on 2018 CGTS's? Mine msrp'd for $97k new and has 10k miles on it. Looks almost new.
Was thinking of trading up to a 2020 911 Carrera S until two Houston dealers and a San Antonio dealer offered me between 58k to 60k for mine. Are the slumping sales of new 718's impacting the value of used 718's?
Guess i'll have to try selling it myself...
 

·
Registered
Joined
·
212 Posts
Stick w/ the mid-engine! Or do you like the 911 feeling and do not find it too big?
 

·
Super Moderator
Joined
·
610 Posts
If you are interested, take your CGTS to CarMax. They will give you a binding estimate good for 30 days. The price they gave me for my Mustang GT was 40% higher than the trade-in allowance the Porsche dealer offered me. Interestingly, the Ford dealer that serviced it gave me $1k more than CarMax! Once I presented the two written offers to the Porsche dealer, they quickly discovered that they had a 'policy' to honor the CarMax estimate (being the lower of the two, I may add).

Anyway, I think CarMax will give you a decent estimate and then you can decide whether your CGTS sucks, or the people you are negotiating for a trade in do...

Being also in Houston, could you satisfy my curiosity whether you got an offer from Porsche North Houston? You can do it by PM if you wish.
 

·
Registered
Joined
·
75 Posts
I got 2 trade in quotes from Porsche dealers for my 2018 718 S that had only 5000 miles on it...both were below Kelly Blue Book by approx. 8 to 10%
 

·
Registered
Joined
·
99 Posts
Tried CarMax three times over (non-Porsche SUVs) the past 10 years and their offers were higher than the original dealer, mostly by a significant amount. Regardless, the last two I sold received the highest prices through USAA's Car Buying Service. Thus, you may want to try that route if you are a USAA member.
 

·
Registered
Joined
·
268 Posts
My Porsche dealer offered me $10,000 for my pristine, low mileage, Z4 M Roadster. It was all I could do NOT to flip their used car buyer off (it wasn't just the lowball offer, but his smug horrible attitude as well). I sold it to another used car dealer in town a few weeks later for $16,000, a "decent" wholesale value.
 

·
Registered
Joined
·
44 Posts
What is pretty well established, and has been echoed several times in this thread is that you are never going to get a satisfying trade offer from the dealership. They low-ball the h*ll out of you.

Why? At least two reasons. (1) they want to make money on reselling your trade-in; more than CarMax is willing to accept in terms of an acceptable profit-margin. Carmax is like Planet Fitness insomuch as their profits come from volume of resales (memberships in the case of Planet Fitness). (2) Dealerships figure you are interested - perhaps even excited - to take ownership of one of their shiny new vehicles; in other words somewhat vulnerable to making a bad decision.

AVM
 

·
Registered
Joined
·
218 Posts
Some of the trade-in value is determined by what you are trading for. You’d be surprised at the differences in trade in if you went in at different times. One time you go in looking to trade for a 911 Targa and then go in to trade for a base Macan. You’d probably have wildly different numbers. The good part about trading in, at least here in NC, is that the trade in value is subtracted from the sale price when determining the taxes paid. Can save a considerable amount of cash. But if you can get a great private seller price then you can come out ahead. That is, if you can sell it. I’ve done the CarMax thing but when I went to buy my Cayman, the Porsche dealer told me they would match CarMax. I went to Carmax to get a quote and it was $500 lower than what Porsche offered.
 

·
Registered
Joined
·
7 Posts
Discussion Starter #11
If you are interested, take your CGTS to CarMax. They will give you a binding estimate good for 30 days. The price they gave me for my Mustang GT was 40% higher than the trade-in allowance the Porsche dealer offered me. Interestingly, the Ford dealer that serviced it gave me $1k more than CarMax! Once I presented the two written offers to the Porsche dealer, they quickly discovered that they had a 'policy' to honor the CarMax estimate (being the lower of the two, I may add).

Anyway, I think CarMax will give you a decent estimate and then you can decide whether your CGTS sucks, or the people you are negotiating for a trade in do...

Being also in Houston, could you satisfy my curiosity whether you got an offer from Porsche North Houston? You can do it by PM if you wish.
Yep, porsche north gave me one of the offers.
 

·
Registered
Joined
·
49 Posts
I don’t know NC laws but in most states that I’ve lived in allow for deduction of the proceeds of a private sale from the sales price of a replacement vehicle (usually sunsets in 6months) which also reduces your net sales tax on the new vehicle just as if you traded at the dealer.
 

·
Registered
Joined
·
218 Posts
I used to live in Virginia and you didn’t get that tax break either way. Looking it up, there are actually seven states that don’t give you that tax break. You gotta pay sales tax on purchase price regardless.
 

·
Registered
Joined
·
78 Posts
I don’t know NC laws but in most states that I’ve lived in allow for deduction of the proceeds of a private sale from the sales price of a replacement vehicle (usually sunsets in 6months) which also reduces your net sales tax on the new vehicle just as if you traded at the dealer.
Which state does this?
 

·
Registered
Joined
·
168 Posts
Agree re CarMax. I sold them my Z4 when buying the Porsche. They were well above what either Porsche or BMW offered. That said, trade-in values are never amazing. They need to be able to mark it up to a price they know it will sell at quickly (or even send it to auction) and still turn a profit. KBB tries to take that into account, but it seems to me the standard practice is to look at the KBB trade in value and go south.
 

·
Registered
Joined
·
13 Posts
The overall issue- at least in So Cal - is that you can walk into any dealer and get a 2018 "New" 718 GTS for 10%-15% off MSRP (which for a CXX build can result in $10K-$15K off). So figure used 2018s are probably going for even lower. I got a new 2018 718 GTS for $81K when sticker was $94K so figure a used car will prob be an additional $10K off so maybe $71K? Now know they have to make money as it will sit on the lot for awhile and their cash is locked up with a car that may not sell quickly and you are looking to trade for a call (911) that they can charge top dollar for. Anyway I think direct to consumer will get you a much better deal.
 

·
Registered
Joined
·
307 Posts
The overall issue- at least in So Cal - is that you can walk into any dealer and get a 2018 "New" 718 GTS for 10%-15% off MSRP (which for a CXX build can result in $10K-$15K off). So figure used 2018s are probably going for even lower. I got a new 2018 718 GTS for $81K when sticker was $94K so figure a used car will prob be an additional $10K off so maybe $71K? Now know they have to make money as it will sit on the lot for awhile and their cash is locked up with a car that may not sell quickly and you are looking to trade for a call (911) that they can charge top dollar for. Anyway I think direct to consumer will get you a much better deal.
And add to that the cost of a CPO, which the buyers of late-model, low-miles examples will expect. If the dealer is already taking that kind of hit on the new units, they won’t be eager to add non-CPO units that may depress prices further.
 

·
Registered
Joined
·
4 Posts
The overall issue- at least in So Cal - is that you can walk into any dealer and get a 2018 "New" 718 GTS for 10%-15% off MSRP (which for a CXX build can result in $10K-$15K off). So figure used 2018s are probably going for even lower. I got a new 2018 718 GTS for $81K when sticker was $94K so figure a used car will prob be an additional $10K off so maybe $71K? Now know they have to make money as it will sit on the lot for awhile and their cash is locked up with a car that may not sell quickly and you are looking to trade for a call (911) that they can charge top dollar for. Anyway I think direct to consumer will get you a much better deal.
Pdk or MT ? Guessing pdk you referring to and also guessing OP has pdk. (just curious if MT 718 S/GTS's are holding value compared to pdk..).
 
1 - 20 of 30 Posts
Top