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4 hours ago, Lucky Phil said:

Too many people worried about the engine issue even with the 10 year warranty (which now has only 5 years remaining on this car). 

I think that is a consideration, but only a small issue at present.   The reason I say that is that the mk2s on the market aren't selling either and look at .1 RS prices, they are falling too.  Overall I'd say that the market is flat for these cars at present and that is driving the price down. 

In hindsight I paid too much for mine in October,  but you have to jump in at some point.   I would jump to a .2 GT3 or .1 RS but I have lost too much money in the 4 months I've had mine, so I will have to grin and bear it.

Regardless,  they are still a good car to drive and I am happy to say that I have owned one.

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22 minutes ago, HWY said:

20 hours later and it is gone from carsales.   was it advertised at $210k?  I did not see the ad.

Yup, it was down to $210k 

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Club sport package also ,,,,,who every purchased it is going to get some great value for money driving out of it ........great price 

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It is a fine line- putting an offer to a seller that may offend, but still higher than trade prices, or just watching and waiting for the seller to reprice to find where the real market is at. In any case, the 991 GT cars are all in very plentiful supply so the days of flipping for a profit are over.  Wonder how much the 991.2 Touring Black currently asking $389k will let it go for since he also has a GT2RS for sale.

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2 hours ago, HWY said:

Wonder how much the 991.2 Touring Black currently asking $389k will let it go for since he also has a GT2RS for sale.

Bank not rolling the interest only loan? There will be more of this yet, it's just getting started.

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Who in their right mind would take out an interest only loan on a $400,000 car to try and flip it for a profit.  Surely nobody is that stupid.

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3 minutes ago, Lucky Phil said:

Who in their right mind would take out an interest only loan on a $400,000 car to try and flip it for a profit.  Surely nobody is that stupid.

Evidently, lots of people must have leveraged them out? 

I think that’s evident by the strong 996/997 market vs the 991 market...because even back 3 years ago when I bought my 997.1, talking to Rob Raymer (whom I bought it from), he said most buyers were cash for those cars, or bringing hefty equity. 

I understand the case for financing, but I generally agree that it’s just not wise to be financed out the gills on a “plaything” it’s fiscally irresponsible if you don’t have the “bail money” should your circumstances change dramatically and fast... speculating on a new car is about as high risk as it gets 😂

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It's not an interest only loan for the car, it's an interest only loan on the home that the car ended up being purchased with. The bank refuses to refinance and the repayments go up 30-40% overnight. Suddenly old mate has to deleverage and quickly to get those payments down.

I've got a serious case of Deja Vu. Is this 2008 all over again? Yes it is, only this time we've got no powder to stave it off in the form of rate cuts. That can that we kicked down the road, guess what, can't kick it any further.

<warning may upset some readers> Boomers, your time is up, head for the exit boys, before it becomes a stampede. Gen X and Gen Y aren't buying your inflated assets, and neither are the banks anymore. Who exactly are you going to sell to when you can't sell to each other?

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10 hours ago, sleazius said:

It's not an interest only loan for the car, it's an interest only loan on the home that the car ended up being purchased with. The bank refuses to refinance and the repayments go up 30-40% overnight. Suddenly old mate has to deleverage and quickly to get those payments down.

I've got a serious case of Deja Vu. Is this 2008 all over again? Yes it is, only this time we've got no powder to stave it off in the form of rate cuts. That can that we kicked down the road, guess what, can't kick it any further.

<warning may upset some readers> Boomers, your time is up, head for the exit boys, before it becomes a stampede. Gen X and Gen Y aren't buying your inflated assets, and neither are the banks anymore. Who exactly are you going to sell to when you can't sell to each other?

Fair enough perhaps a slight generalisation and extremely negative for me however this is a valid opinion. Most Baby boomers  (not one but close😁) I know that have been succcesful are in cash these are the people that have grown up foregoing luxury items when younger 20-30's working hard toward owning there own home (lets agree that it has been a success bench mark for most people of this era)

Your point i'd say should read like this - No matter what age you are, exit if your in debt or its your super as its likely that no one is going to buy your inflated assets in the short to medium term. 

For those in cash even if you've got these so called inflated assets you're about to get some fine pickings that will potentially increase your wealth over the long term; perhaps? 

Let the market's play out; good luck to you all. 

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2 hours ago, Scott SS964 said:

Your point i'd say should read like this - No matter what age you are, exit if your in debt or its your super as its likely that no one is going to buy your inflated assets in the short to medium term. 

For those in cash even if you've got these so called inflated assets you're about to get some fine pickings that will potentially increase your wealth over the long term; perhaps? 

Let the market's play out; good luck to you all. 

You guys are more interesting business reading than Alan Kohler and Robert Gottliebsen combined.

I think the 991 GT cars (getting back on topic) had large speculative interests due to the success in flipping GT4 cars when they launched. I think I read somewhere Aust now gets more GT cars than UK- mainly as VAG can make more per car down here than selling into UK or South Africa.

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Good price and spec on this RS, makes the Richmond car look expensive. 

https://www.carsales.com.au/cars/details/2016-Porsche-911-GT3-RS-991-Auto-MY16/SSE-AD-5981119

 

I see two other .1 GT3s, got listed today,  one was the black one again from a few weeks ago.

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1 hour ago, NBTBRV8 said:

Good price and spec on this RS, makes the Richmond car look expensive. 

https://www.carsales.com.au/cars/details/2016-Porsche-911-GT3-RS-991-Auto-MY16/SSE-AD-5981119

 

I see two other .1 GT3s, got listed today,  one was the black one again from a few weeks ago.

If it’s the one I’m thinking it is, very fast too ;) 

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On 16/03/2019 at 12:10, NBTBRV8 said:

that will be the one Sold in the last 2 weeks from SA was sitting on at 260K for ages the came down to 210 upon sale

40 minutes ago, reggiegums said:

Boy oh boy. On paper, price wise, these are the obvious choice compared to the 997 GT3. 

I don't disagree however i just couldn't bring myself to put my hard earned into one; I'm sure i'm not the only one either.

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8 hours ago, Scott SS964 said:

that will be the one Sold in the last 2 weeks from SA was sitting on at 260K for ages the came down to 210 upon sale

I don't disagree however i just couldn't bring myself to put my hard earned into one; I'm sure i'm not the only one either.

They are a faster drive than the 997, that is for sure.  I do miss the manual though but all in all a better car as you'd have to expect from the next generation.

I forgot about that white one, it was from QLD.  It would be that car for sure.

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