Falling prices , should I ditch my 2020 Taycan?

[Studogg22]

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.

Yeah, it’s even worse than that. I paid $161k in Jan 2023 and after driving 1500 miles, I called same dealer to explore getting out of it. They cited $110k trade for it so they would try to sell for $120-125K again as CPO. So $50k less in 6 months. The loss is more if you consider I paid for Ceramic and PPF which were also baked into that trade value but not my purchase figure. I have horrible timing. I was so upset I spent $10k on the 4Runner and it made me forget most of my mistakes! If it weren’t my dream spec as CPO in my town, I would probably have not taken the plunge.

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[007]

Yeah, it’s even worse than that. I paid $161k in Jan 2023 and after driving 1500 miles, I called same dealer to explore getting out of it. They cited $110k trade for it so they would try to sell for $120-125K again as CPO. So $50k less in 6 months. The loss is more if you consider I paid for Ceramic and PPF which were also baked into that trade value but not my purchase figure. I have horrible timing. I was so upset I spent $10k on the 4Runner and it made me forget most of my mistakes! If it weren’t my dream spec as CPO in my town, I would probably have not taken the plunge.

Life is really too short to worry about potential loss. It’s your dream spec and just enjoy it.

My car is also my dream spec. The best and most expensive car I’ve ever owned. And after such a shitty year personally, my car brings some small joy. I drive it wherever I can, rain or shine, snow and ice, most of the time with the kids in the back making a mess. A few years ago I was different, now I don’t baby my cars and just use them.

 

[Studogg22]

Life is really too short to worry about potential loss. It’s your dream spec and just enjoy it.

My car is also my dream spec. The best and most expensive car I’ve ever owned. And after such a shitty year personally, my car brings some small joy. I drive it wherever I can, rain or shine, snow and ice, most of the time with the kids in the back making a mess. A few years ago I was different, now I don’t baby my cars and just use them.

I love hearing this and appreciate the encouragement. I am making every effort to engage with my car in the same way, but the 'old me' sure is stubborn most days.

 

[MAPC]

Here is another perspective (but note that I don't mean to diminish your pain at all!):

People call out about massive depreciation (which would bother me a lot too!) but they really aren't comparing apples to apples and, to be frank, are not always realistic in their expectations. Yes, $50K in a year is horrific no matter what!

What I mean:
1. If someone is comparing what they paid new to what they were then offered on trade to a dealer, this is apples and oranges. Comparing 'retail' to 'wholesale'. Even if cars didn't 'depreciate' at all, a trade to a dealer will be 10-15% under what was paid originally just so that the dealer can be kept whole and provide (minimal) profit. If you assume a min 20% actually depreciation in year 1, then you are immediately talking about 30-40% from 'retail' to 'wholesale'
2. as others have noticed, higher end cars nearly ALL suffer from greater than average depreciation since there is less price sensitivity at this level. Meaning- if I could pay $200K for a car, would I be willing to buy one that is a) used and b) not exactly to my specs for only $20-30K less? In most cases (certainly not all) the answer is 'no'....hence, the resale on a high end car tends to sink a lot in year 1.....after that it starts to level out

Just some food for thought.

 

[LongLive959]

So are Canadian prices out of whack, or in line with you’re seeing elsewhere?

im currently looking for a ‘23 CPO. CT’s are around the $150k mark (~112 usd). Whereas new GTSs are easily hitting and passing $200k (~150 usd) for comparison.

might just be the CTs? I’m seeing ‘23 Taycan sedans (saloons?) about 25-30k less expensive

also wondering, does Porsche tend to scale down production prior to a refresh. I’m considering waiting to see what the refresh offers, and hoping there’s an increase in CPOs as ppl trade up, but one dealer told me Porsche will scale back supply to keep the CPO market in check. True, or pressure sale?

 

[bsclywilly]

Every time I see this thread pop up I think there should be a similar thread titled, “Falling prices, should I buy a Taycan?” That question would make a heluva lot more sense.

 

[Cillacede]

I should have clarified in my original post - I bought my Taycan CPO'd, it was already 2 years old, so I didn't think I get take such a large hit depreciation as I have currently have. I've bought several pre-owned Porsche's and none have depreciated this much (Macan, 718 base, 718 S, 718 GTS, Porsche 911 GTS). I should have reworded my OP as well - I do love my car, but we are in a phase where we are trying to save and budget as we have planned move to a more expensive home in a few years. So, that being said, I could save ~ $9000 a year by selling my Taycan and downsizing for a car with a lower monthly car payment and the car insurance would be nearly $2k less every 6-months (who knew car insurance was so much more expensive for the Taycan vs ice vehicles).

 

[ShiftyWolf]

So, that being said, I could save ~ $9000 a year by selling my Taycan and downsizing for a car with a lower monthly car payment and the car insurance would be nearly $2k less every 6-months (who knew car insurance was so much more expensive for the Taycan vs ice vehicles).

No one NEEDS to own a Porsche. If you are facing a budget concern there are lots of nice cars out there that will fill your need for reasonable utility, performance, etc. and selling might be a good idea to save money.

I know Porsches are expensive to purchase and to maintain, but I'm currently at a point where I can afford it so I made the choice to own one. If you are at a different point, I totally respect that.

 

[Horizontally Opposed]

Every time I see this thread pop up I think there should be a similar thread titled, “Falling prices, should I buy a Taycan?” That question would make a heluva lot more sense.

I did, picking it up tomorrow.

Got a CT4 with all the goodies I wanted. Yeah, terrible market for EV, but Porsche was giving such incentives I decided to go for it. Oddly, only one of my local dealers was featuring this promotion.

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