Falling prices , should I ditch my 2020 Taycan?

[tomdfw1]

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?

It has depreciated already...it most likely has seen the most of its percentage drop and should stabilize moving forward. DON'T SELL! You will lose more on new cars again if you did!

Sponsored

 

[Horizontally Opposed]

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?

I think the damage is done. Just stick with it if you like the car. Porsche is giving new ones away (Awaiting delivery on a new ‘24. $17,500 off MSRP). Dealer $5,000, Porsche $12,500. If there was any market that would not be happening.

 

[Cillacede]

Car is not a lease and I would definitely buy new. I would buy preowned and have already done the calculations of the the price and amount I would put down to significantly lower my monthly payment. I guess it comes down to budget vs desire. And I have conflicts over both! Sometimes I think budget (sell); others I think desire (keep!)

 

[Redhot2474]

Dang, I just don’t understand these conversations lately. Why do people assume the Taycans would have similar depreciation of a 911? Especially when WE are in the extreme minority of people who desire a 6 figure EV. OP, what you’re describing is NORMAL depreciation for a 4 year old car. You should definitely get rid of the car, soon you will have to pay people to buy it to take off your hands ….., sarcasm, it’s an engineering marvel , whatever is left after 5 years of driving consider it a bonus, people need to stop with this depreciation non sense, we all bought a depreciating asset to have fun with, the ROI is our enjoyment

 

[Redhot2474]

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.

Dealerships are actually giving Taycans out free to all people who purchase 911’s

 

[RingoDingo]

It's such a great car. Was driving mine last night thinking about how I might buy another car for track/fun, but why would I get rid of this one? It does it all.

 

[WasserGKuehlt]

Dealerships are actually giving Taycans out free to all people who purchase 911’s

Dang, had I known.. There's a longer wait for 911s, so a) place a deposit, b) score free Taycan, c) cancel 911 when the order is about to lock?

Can I bring them a code for the free Taycan?

 

[Redhot2474]

Dang, had I known.. There's a longer wait for 911s, so a) place a deposit, b) score free Taycan, c) cancel 911 when the order is about to lock?

Can I bring them a code for the free Taycan?

No code needed, you even get your choice of color

 

[007]

No code needed, you even get your choice of color

I thought this was just a Black Friday deal.

 

[zgparador]

Sell it ASAP. There is a battery problem with the 2020’s. Once that battery fails, it’s in the shop for months. Been there - done that. Google it, what a nightmare.
bought a 2023. All good!

 

[Caraholic]

Sell it ASAP. There is a battery problem with the 2020’s. Once that battery fails, it’s in the shop for months. Been there - done that. Google it, what a nightmare.
bought a 2023. All good!

Hate to break it to you but battery failures occur in all years. There is a poll already started on this forum and I believe it was either 22 or 23 matched and or was higher then 20’s. It’s a problem for all years. I believe it’s still a small percentage of cars but it can occur in any year.

 

[amelen]

I've been going through the same process - but probably doesn't make sense to sell now. Just eye-balling the market (and I work in auto, so I do have some good knowledge of market conditions, etc..): My 2021 Turbo would trade-in for $90k today, probably $100k private-sale (MSRP was $168k I think?). I'd imagine, 12mo from now, the trade-in & private-sale would be about -$10k. For $833/mo cost-to own, and still under warranty, it didn't make sense for me personally to sell it now. This is all of course "guesstimating" and your situation/decision might be different.

 

[007]

Anybody thought about averaging down and getting a second, second-hand Taycan?

 

[Studogg22]

Anybody thought about averaging down and getting a second, second-hand Taycan?

I was unsettled by the $50K year 1 depreciation post my 2021 CPO purchase and solved it by averaging down with a 1999 4Runner: now I drive my Taycan only when I want to (not when weather is bad, traffic, kids, etc) and every time I get into the Taycan, I get to fall in love with it all over again. The 4Runner is a blast, who knew!

 

[MAPC]

I was unsettled by the $50K year 1 depreciation post my 2021 CPO purchase and solved it by averaging down with a 1999 4Runner: now I drive my Taycan only when I want to (not when weather is bad, traffic, kids, etc) and every time I get into the Taycan, I get to fall in love with it all over again. The 4Runner is a blast, who knew!

Curious as to how you are calculating 50k depreciation in one year on a CPO 2021? Must have been a fairly high end Taycan to have that result.

Sponsored