Sudden Massive Depreciation In Used Value

[Moonstone]

Massive but not sudden…

It’s been well-documented over the last six months as the post-covid bubble has burst and the tax incentive that you made you buy it in the first place is making used cars less attractive.

Besides, it works both ways. Just personally buy a used one in three years at your chosen spec. having let the previous owner suffer the depreciation.

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[Crazymind]

I rather suffer the depreciation than buying a 3 years old car. The first fart on the seat must be mine. Don’t like to seat where other people have for 3 years.

 

[andb]

 

[Moonstone]

I rather suffer the depreciation than buying a 3 years old car. The first fart on the seat must be mine. Don’t like to seat where other people have for 3 years.

Well in that case, your Highness, pay the premium and stop whining about it.

 

[irrelevant]

Reliable?

Our Taycan is in the shop with just six weeks and 1,400 miles on it. That makes it the least reliable car we’ve ever owned…worse than most second-hand vehicles I’ve owned.

 

[feye]

Reliable?

Our Taycan is in the shop with just six weeks and 1,400 miles on it. That makes it the least reliable car we’ve ever owned…worse than most second-hand vehicles I’ve owned.

My Taycan with a broken module of the main battery and over 3 months in the shop is also on the top spot of my unreliable list of cars we've had.

 

[whitex]

It is the norm (painful as it is) but 30% over 3 years is typical for most Porsche's (911s, GTs and Boxsters excluded)

Are you saying the in the UK the residual values for 911s are 70% of MSRP for a 3 year lease? I'm pretty sure that's not the case here in the USA.

 

[W1NGE]

Are you saying the in the UK the residual values for 911s are 70% of MSRP for a 3 year lease? I'm pretty sure that's not the case here in the USA.

No, the opposite - I used the word "excluded"

 

[whitex]

Reliable?

Our Taycan is in the shop with just six weeks and 1,400 miles on it. That makes it the least reliable car we’ve ever owned…worse than most second-hand vehicles I’ve owned.

Makes my issues seem small, like Friday night I was walking to my car shortly after 3am in Kirkland, when a cloud burst came down all the sudden like I've never seen before in the PNW (reminded me of storms the southern states). I get to the car, touch the handles, but the car keep relocking itself instead of unlocking! In the few seconds it took me to give up trying, dig the the key fob out of my pocket and find the unlock button, I was soaked! WTF happened to Porsche engineering? Did all the old engineers retire and the current generation is more concerned about pronouns and political correctness over technological competence and designing reliable products? Or did going public cause them to outsource their design to the lowest bidder contractor somewhere offshore? Or is this the result of latest inclusivity programs from HR where "everyone's idea must be incorporated into the design, no matter how dumb"? I honestly thought I was upgrading from a brand new manufacturer with teething problems to an experienced one, when I switched back to Porsche from Tesla, but at least Tesla fixes their shit sometimes more than once a week via OTA, and all 4 Model S I've owned, after initial correction of factory issues, have held up relatively well - the one I kept the longest was 8 years old. Porsche seems to have more problems than brand new car companies, such as Tesla, Rivian, Lucid - and that goes for design, repair, manufacturing, supply chains, etc. What happened?

OK, enough ranting. I guess I should consider myself lucky my Taycan is still driving after almost 5K miles (more than 3x your mileage!). My main issues are the completely unreliable door handles/locking-unlocking system (unable to either lock or to unlock the car), whining noise at 50mph when in first gear, and the phone app constantly telling me a window is open (which made be ignore it, and then one time it actually was open, one of my passengers didn't close it). The rest is just usability issues, though one of them seems to have either gotten fixed by OTA or warmer temps somehow fixed it - when I used to hit "close and lock trunk" button, if I started to walk away from the car even a little bit, the trunk would stop midway and the car would unlock itself - this seems to be no longer the case. I can hit it in my garage and start walking into the house, the trunk will in fact finish closing and the car will stay locked.

 

[whitex]

No, the opposite - I used the word "excluded"

I assumed you meant they depreciate less. If 30% in 3 years is normal, but does not apply to 911s, are you saying they depreciate more than 30% in 3 years, or less?

 

[mcr21]

UK owners who can buy and maintain the car through their company should really not complain about depreciation. As others have noted, it's been a steep curve recently but there's a huge supply increase relative to a year ago.

When I bought mine last summer there were around 85 Taycans listed nationally, now it's close to 600 and doubt that will change any time soon.

 

[npx]

Reliable?

Our Taycan is in the shop with just six weeks and 1,400 miles on it. That makes it the least reliable car we’ve ever owned…worse than most second-hand vehicles I’ve owned.

luckily, and i mean this without trying to diminish your experience, this is the minority for owners.

 

[WasserGKuehlt]

My Taycan with a broken module of the main battery and over 3 months in the shop is also on the top spot of my unreliable list of cars we've had.

What, lower than your Tesla?

 

[Henke]

My Tesla was 97k, I think plus about a 10k refund in tax credits. Sold it 4.5 years later for 50k, so 37k loss over 54 months, not too shabby.

The Taycan was 130k and about 8.25k in credits. I looked at KBB value and it is about 110k after 18 months. I've only done just over 8k miles so far. 12k depreciation after about 18 months is pretty good, I thought. Of course the reality of what someone might pay me could be different.

 

[Bertibasset]

Last year (2022) I chose to replace my fully loaded Taycan Turbo as it was less than a year away from the PCP contract ending. I asked what my trade in value would be and was offered £105,000 (25% depreciation over 2.5 years) by Porsche in Bristol, I was happy and ordered a new Porsche Turbo S.
Last week I recieved a build slot, not only had the price of the new car increased by over £8K, but the value of my car had plummeted to just £74K, almost 30% depreciation in 6 months! I was told the market was flooded with used Taycans. I cancelled the order and will stick with my old car for a few more years.

The trade have an over supply and confidence in the Taycan is at a low point with all the problems