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      07-26-2009, 09:43 PM   #1
SydneyM3Pom
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What's my M3 worth....?

Had a heart attack last week, was thinking about a change so popped into the Porsche dealer to look at a 997S that they had in for sensible money...

That is until they gave me a trade-in quote on my '08 E92 manual. Fully optioned apart from the blinds and ski bag with 9,000km. JB with grey leather.

A$110k!!

Paid A$174k for it new, and a replacement car now would be over A$190k.

What do people reckon I would get for it private? Most of them seem to be advertised around the A$140-145k mark?
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      07-26-2009, 10:02 PM   #2
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Mate, I would think that you'd get something of the $130k at least privately. I've seen 2007 M3s selling for 135k+
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      07-26-2009, 10:27 PM   #3
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Quote:
Originally Posted by SydneyM3Pom View Post
Had a heart attack last week, was thinking about a change so popped into the Porsche dealer to look at a 997S that they had in for sensible money...

That is until they gave me a trade-in quote on my '08 E92 manual. Fully optioned apart from the blinds and ski bag with 9,000km. JB with grey leather.

A$110k!!

Paid A$174k for it new, and a replacement car now would be over A$190k.

What do people reckon I would get for it private? Most of them seem to be advertised around the A$140-145k mark?
That sucks..............

It's a given that you need to remove the GST and LCT from the driveaway price of a new car - that was gone the day we drove the car out of the show room. Depreciation is approx 18% pa I have heard, so that comes off the ex-GST, ex-LCT price. You get zip for the options you've added - that's another given. I have also heard that you take the biggest hit if you sell in the first year.

I've just taken a hit on my 2008 135i coupe that I sold last week - lost about $30,000 in total - about a third of what I paid for it.

Unfortunately, our cars are dream cars bought with the heart not the brain and the brain plays out when we go to sell. If the heart had its way we'd all be driving around in a Prius!

I'd try privately around $145k, cos that's probably around what the secondhand dealer would try to get for it. Try carsales.com.au and get someone (or yourself) to take some really good pics for your ad.

Sorry I couldn't bear much better news but I've taken it up the Khyber Pass on the last 4 BMWs I have sold - it's just the way with flashier cars.
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      07-26-2009, 11:44 PM   #4
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Secondhand all the way for me in future! I promised myself that when I bought a new Boxster (leased) and had GBP400 left after selling and making the lease repayment. At least I bought this one outright.

Only bought it new because it was that or demo when I got mine.

Nothing later than an '07 on this shopping trip... though I'm hearing Gen 2 997TT (due out next year) is going to be >500bhp... tempting.
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      07-27-2009, 12:05 AM   #5
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Nice one. These cars are totally bought with the heart and not the head....
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      07-27-2009, 07:29 AM   #6
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Checked on carsales.com.au, it seems most private sale cars are 2007 and priced from $140 to 150k. There is 1 car that is advertised for $122.5k but it has been on the website forever so not sure what the deal is.

The only 2008 car is advertised for $150k, so good luck!
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      07-27-2009, 08:25 AM   #7
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ffforever - I think that guy is having some real problems selling his ///M - not sure why - but as you said, he's been on there forever!
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      07-28-2009, 12:52 AM   #8
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Quote:
Originally Posted by SydneyM3Pom View Post
Had a heart attack last week, was thinking about a change so popped into the Porsche dealer to look at a 997S that they had in for sensible money...

That is until they gave me a trade-in quote on my '08 E92 manual. Fully optioned apart from the blinds and ski bag with 9,000km. JB with grey leather.

A$110k!!

Paid A$174k for it new, and a replacement car now would be over A$190k.

What do people reckon I would get for it private? Most of them seem to be advertised around the A$140-145k mark?
It's only worth what they'll pay for it. We all wish it was different but that's life.

Try privately but don't necessarily expect to get close to what others are asking for theirs. That's just their ask, not their get.
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      07-30-2009, 06:23 PM   #9
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Quote:
Originally Posted by aggie57 View Post
It's only worth what they'll pay for it. We all wish it was different but that's life.

Try privately but don't necessarily expect to get close to what others are asking for theirs. That's just their ask, not their get.
I agree, we're all in business and he can only pay what he's getting bid for it on the other side.

They also brought their price on the car I was looking at by a healthy margin from already reduced levels so I could probably have lived with the difference but if I can get better by being patient in selling mine all good.

$10k is $10k!
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      08-02-2009, 02:50 PM   #10
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Originally Posted by SydneyM3Pom View Post
Secondhand all the way for me in future! I promised myself that when I bought a new Boxster (leased) and had GBP400 left after selling and making the lease repayment. At least I bought this one outright.
I'd normally agree. I ended up going new on mine because I wanted to do ED: so I likely paid up $10k+ to get that memory.

When I buy my 911 I'm going for low mileage / near new & immaculate.

Must be nice to have owned a Gallardo.
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      08-05-2009, 12:18 AM   #11
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I'd normally agree. I ended up going new on mine because I wanted to do ED: so I likely paid up $10k+ to get that memory.

When I buy my 911 I'm going for low mileage / near new & immaculate.

Must be nice to have owned a Gallardo.
Still own

Off home to the UK in September, drive to Plymouth via the moors, Santander Ferry, then Pyrenees, Cote D'Azur, meeting friends in San Remo, before driving back via Switzerland. Just hope my dad is keeping good care of it in the mean time. Just me, small bag, shorts, t-shirt and a pair of Sunny's.

I reckon around 4,500km all-up over two weeks

Agree with you on 997, 12-18m old, targeting buying in January for an early Gen II C4S with PDK...
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      08-05-2009, 12:44 AM   #12
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Originally Posted by SydneyM3Pom View Post
Still own

Off home to the UK in September, drive to Plymouth via the moors, Santander Ferry, then Pyrenees, Cote D'Azur, meeting friends in San Remo, before driving back via Switzerland. Just hope my dad is keeping good care of it in the mean time. Just me, small bag, shorts, t-shirt and a pair of Sunny's.

I reckon around 4,500km all-up over two weeks

Agree with you on 997, 12-18m old, targeting buying in January for an early Gen II C4S with PDK...
I'm jealous... take lots of pictures!
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      08-05-2009, 03:02 AM   #13
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Quote:
Originally Posted by SydneyM3Pom View Post
Still own

Off home to the UK in September, drive to Plymouth via the moors, Santander Ferry, then Pyrenees, Cote D'Azur, meeting friends in San Remo, before driving back via Switzerland. Just hope my dad is keeping good care of it in the mean time. Just me, small bag, shorts, t-shirt and a pair of Sunny's.

I reckon around 4,500km all-up over two weeks

Agree with you on 997, 12-18m old, targeting buying in January for an early Gen II C4S with PDK...
Stuff the PDK - real cars have clutches!!!

flame away all!! (I'm just stirring up trouble!)
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      08-05-2009, 04:24 AM   #14
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aggie57 - lol.... DCT all the way! hehe
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      08-05-2009, 06:24 AM   #15
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Back on topic.....what's an E92 M3 worth? Well this may be a good guide....

I ordered an E92 in Melb Red last year which arrived in May 09. It's a long story, but upon taking delivery of the car I immediately started having regrets about the colour - it's beautiful to look at and as a weekend car it would've been perfect, but as a daily proposition I thought it would get a bit hard to live with. The red is very in-your-face and stands out a LOT. I had made a mistake in colour choice. So what to do? As I plan to have my car for at least 4 years, I knew that I either had to just accept the red, or try and do a deal for a new M3 (in a different colour).....

So I called my dealer and explained my situation. To be honest, I felt somewhat embarrassed. Of course, they were very sympathetic to my cause - after all, there was potentially another sale of an M3 in the pipeline!! What I wanted to do was trade my 3 month old Melb Red M3 with just 900km on the clock for a new Alpine White one in the exact same specs.....

The initial changeover price I was offered was a laugh.....let's just say that things improved dramatically from there and after a week or so of negotiation, we agreed on a changeover that was quite acceptable.
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      08-05-2009, 07:42 AM   #16
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Quote:
Originally Posted by SPQR M3 View Post
Back on topic.....what's an E92 M3 worth? Well this may be a good guide....

I ordered an E92 in Melb Red last year which arrived in May 09. It's a long story, but upon taking delivery of the car I immediately started having regrets about the colour - it's beautiful to look at and as a weekend car it would've been perfect, but as a daily proposition I thought it would get a bit hard to live with. The red is very in-your-face and stands out a LOT. I had made a mistake in colour choice. So what to do? As I plan to have my car for at least 4 years, I knew that I either had to just accept the red, or try and do a deal for a new M3 (in a different colour).....

So I called my dealer and explained my situation. To be honest, I felt somewhat embarrassed. Of course, they were very sympathetic to my cause - after all, there was potentially another sale of an M3 in the pipeline!! What I wanted to do was trade my 3 month old Melb Red M3 with just 900km on the clock for a new Alpine White one in the exact same specs.....

The initial changeover price I was offered was a laugh.....let's just say that things improved dramatically from there and after a week or so of negotiation, we agreed on a changeover that was quite acceptable.
Must admit I had a brief thought about doing something similar with the recently announced Limited M3... then I realised that there are only 3 coming to Oz and one could only guess how much they would want for something this rare! (It is a 6 month production run so why only 3 in Oz???).
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      08-05-2009, 07:55 AM   #17
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Quote:
Originally Posted by SPQR M3 View Post
Back on topic.....what's an E92 M3 worth? Well this may be a good guide....

I ordered an E92 in Melb Red last year which arrived in May 09. It's a long story, but upon taking delivery of the car I immediately started having regrets about the colour - it's beautiful to look at and as a weekend car it would've been perfect, but as a daily proposition I thought it would get a bit hard to live with. The red is very in-your-face and stands out a LOT. I had made a mistake in colour choice. So what to do? As I plan to have my car for at least 4 years, I knew that I either had to just accept the red, or try and do a deal for a new M3 (in a different colour).....

So I called my dealer and explained my situation. To be honest, I felt somewhat embarrassed. Of course, they were very sympathetic to my cause - after all, there was potentially another sale of an M3 in the pipeline!! What I wanted to do was trade my 3 month old Melb Red M3 with just 900km on the clock for a new Alpine White one in the exact same specs.....

The initial changeover price I was offered was a laugh.....let's just say that things improved dramatically from there and after a week or so of negotiation, we agreed on a changeover that was quite acceptable.
SPQR - Do you think that M3s in general hold their value in a reasonable fashion?
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      08-05-2009, 10:27 AM   #18
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SPQR - Do you think that M3s in general hold their value in a reasonable fashion?
M3s definitely do not hold their value - one look at redbook.com.au or trade in quote from a dealer will confirm that.

As I've said before, buying a car like an M3 is a decision made with the heart not the brain!
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      08-05-2009, 07:13 PM   #19
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I think we should just accept that no cars really hold their value in the first 5-10 years of life. You get exceptions due to limited supply and so on but they're generally short lived.

SPQR - you're experience sounds interesting though. Very similar to my 911 experience albeit you changed over much quicker than I did.
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      08-05-2009, 08:19 PM   #20
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I think we should just accept that no cars really hold their value in the first 5-10 years of life. You get exceptions due to limited supply and so on but they're generally short lived.

SPQR - you're experience sounds interesting though. Very similar to my 911 experience albeit you changed over much quicker than I did.
Aggie - I knew that if I was going to make the change, it had to be done now. If I had waited even just 3 more months, the changeover price would've been far worse.
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      08-06-2009, 02:09 AM   #21
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I ended up getting my money back on my 997.1 C2 and paying a discounted difference between that and a new 997.2 C2S. Pretty good deal considering I had done 7000 km's in the car.

Last edited by aggie57; 08-06-2009 at 02:33 AM.
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