Falling prices , should I ditch my 2020 Taycan?

[Cillacede]

I bought a very well spec’d pre-owned 2020 4s last September. The warranty is up in March 2024. The cost to extend the warranty is ~$3300. I recently checked the price of my car on KBB and realized the price of this car has fallen dramatically. Understood, I did buy at the end of the Covid car craziness, so expected some depreciation, but wow, KBB was offering $62k for a car with an original MSRP of $135k (which was not what I paid) and the car only has 10,800 miles and many upgrades. So, I’m now wondering if I should sell the Taycan? I’d purchase a pre-owned Macan or Cayenne, which is more useful for my lifestyle these days, and pay much less. I have no problem affording the monthly payment of my Taycan but wonder how much more the car will depreciate and I could obviously save considerably by moving into a less expensive car. I don’t relish the idea of going to a dealer to get a new car. I ultimately want to purchase the electric Macan or Cayenne, so I’m also hesitant to ditch the Taycan and go back to an ICE car. Thoughts?

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[MAPC]

I recently purchased a 2020 4S. From my experience, the going rate for your miles and MSRP is around $70-75k. A trade in number is always going to be a minimum of $8-10k below that. The one I purchased was the same MSRP but with 25k miles. I paid $67k. Not CPO but still has factory warranty for about 18 months.

Other than a 911, I can’t think of another luxury car that DOESN’T depreciate substantially in the first three years. After that, the depreciation curve flattens.

I say keep the Taycan and enjoy it!

 

[007]

KBB is so, so, so incorrect. Time to get rid of it before the prices drop even more. My careful calculations show that the car, with your spec and mileage, is worth around $20. The good news is, I’ll take it off your hands, no questions asked, paid in cash.

 

[DGW]

love your rationale: buy at high sell at low
whatever you are going to trade-in your Taycan with, you will end up losing more
just keep it

 

[Giulio]

I don't think it's worth thinking about devaluing it....if you like the car you keep it, if for some reason it makes you tired or disappoints you change it...I like it a lot and I think it's currently the most beautiful alternative of Porsche especially for those who still have small children and need space

 

[RAHRCR]

Pony up for the extended warranty and keep rolling….

 

[ShiftyWolf]

As others have said here and in other threads, your car is only worth the sale or trade in value when you get rid of it so decide whether you want to take the depreciation hit. At some point, all cars will level out in their value.

For my part, I wouldn't trade my Taycan for another right now until the NACS port update happens. But if you want a different car and can afford it, do what is best for your circumstances.

 

[Caraholic]

Depends if you love the vehicle or not. I personally love it way more than a Cayane let alone a Macan. Had a loaner high spec Cayane S and they aren’t event comparable in my eyes. With that being said yes prices are falling like a rock lately. Personally thought depreciation was going to slow since this past late summer but it has kept going at a big rate. This may be due to the winter so it should level off at some point. I just don’t know when that will be. Your going to loose money either way. It’s just wether you loose money while enjoying driving the car or you give a bunch of money to a dealer to take it off your hands.

 

[MAPC]

I ordered a Macan GTS during COVID and traded it in 18 months later- still COVID supply issues- for more than I paid for it.

Those days are over. As has been mentioned on here multiple times, expensive cars across the board tend to depreciate rapidly in their first few years of ownership, then the curve tends to flatten.

911 is only exception that I can see.

 

[Cillacede]

These are very interesting comments. I am still making car payments, but if I sell now, I'll actually still be able to recoup some money rather than not. With the sale, I could jump into a less expensive car for a while and pay ~ $8500 less a year in insurance and car payments. The insurance is quite expensive. I could wait until the SUV EV's come out. An SUV is most practical for me in terms of what and who I tote around town. I'm really on the fence about what to do. If the car were worth a trade-in value of $80k, that would be more palatable. I've owned/purchased quite a few pre-owned Porsche's and not a single one of them has depreciated this quickly and this intensely.

 

[Caraholic]

If you can recoup money now and you want something else then yes get out now.

 

[RingoDingo]

love your rationale: buy at high sell at low
whatever you are going to trade-in your Taycan with, you will end up losing more
just keep it

Envious of your GTS Rubystar. THAT IS ALL.

 

[RingoDingo]

These are very interesting comments. I am still making car payments, but if I sell now, I'll actually still be able to recoup some money rather than not. With the sale, I could jump into a less expensive car for a while and pay ~ $8500 less a year in insurance and car payments. The insurance is quite expensive. I could wait until the SUV EV's come out. An SUV is most practical for me in terms of what and who I tote around town. I'm really on the fence about what to do. If the car were worth a trade-in value of $80k, that would be more palatable. I've owned/purchased quite a few pre-owned Porsche's and not a single one of them has depreciated this quickly and this intensely.

I'll trade you my 20" Turbo wheels and cash for your 21" Mission E wheels. Make me an offer. Don't trade that thing in without taking my money first.

 

[DGW]

Envious of your GTS Rubystar. THAT IS ALL.

tnx! perfect combo: the color that I always wanted and practical family car, kids love it!

 

[DGW]

These are very interesting comments. I am still making car payments, but if I sell now, I'll actually still be able to recoup some money rather than not. With the sale, I could jump into a less expensive car for a while and pay ~ $8500 less a year in insurance and car payments. The insurance is quite expensive. I could wait until the SUV EV's come out. An SUV is most practical for me in terms of what and who I tote around town. I'm really on the fence about what to do. If the car were worth a trade-in value of $80k, that would be more palatable. I've owned/purchased quite a few pre-owned Porsche's and not a single one of them has depreciated this quickly and this intensely.

if yours is a lease one, just wait till the term is due, or ask for another car with the same or a bit more monthly for the upcoming Macan. However your rolling monthly payments have nth to do with the depreciation, even if you just park it in your garage and deregister from insurance and road tax, you most likely will not recoup with selling.

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