Buy a Cayman S now or later?
Dec 22, 2010 | 10:47 PM
#1
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Buy a Cayman S now or later?
I'm planning on getting a used Cayman S, low mileage, any model year between '06 and '08. I'm not sure, however, when I should buy it. I would like to have it sometime between now and the next half a year or so. The problem is deciding when I will get the best price. Some say prices will rise, others claim the opposite. Any input? Thanks for any suggestions in advance.
Dec 22, 2010 | 10:57 PM
#4
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Perhaps buying now at the end of the year might mean a better price then in the middle of next year? Also:
"After crashing along with the economy in 2008, used-car values have been marching steadily higher. In August, the average cost of a 3-year-old used car was 20% more than two years earlier, according to car site Edmunds.com...Some models have soared 30% or more in just the past year, Edmunds.com found...And the worst is yet to come, according to Edmunds senior analyst Jessica Caldwell. Autumn 2011 will mark three years since the credit crunch really hit the car manufacturers, many of whom sharply reduced or eliminated their leasing programs.
"We see (prices) getting really high next fall," Caldwell said. "A big portion of the used market is cars coming off leases, and those won't be there." Not only has the supply of leased vehicles been drastically reduced, but people are hanging on to their cars longer, further constricting supply, Caldwell noted. Before the recession, the average trade-in age for vehicles was between four and five years. Now it's between five and six years, Edmunds figures show.
As Automotive News recently noted: "This snowball effect is just going to get worse as first 24-month cars, then 30-month cars, then 36-month, then 40-month cars don't come back as trade-ins -- because they were never built and bought in the first place."
"Replace your car now. If you were planning to get another car in the next year or so, doing so sooner rather than later may save you money."
Source: Why used-car prices are going up - Liz Pulliam Weston - MSN Money
I am confused because some people, like yourself, say values can only go down, while others have told me such things that are facilitated by this article.
"After crashing along with the economy in 2008, used-car values have been marching steadily higher. In August, the average cost of a 3-year-old used car was 20% more than two years earlier, according to car site Edmunds.com...Some models have soared 30% or more in just the past year, Edmunds.com found...And the worst is yet to come, according to Edmunds senior analyst Jessica Caldwell. Autumn 2011 will mark three years since the credit crunch really hit the car manufacturers, many of whom sharply reduced or eliminated their leasing programs.
"We see (prices) getting really high next fall," Caldwell said. "A big portion of the used market is cars coming off leases, and those won't be there." Not only has the supply of leased vehicles been drastically reduced, but people are hanging on to their cars longer, further constricting supply, Caldwell noted. Before the recession, the average trade-in age for vehicles was between four and five years. Now it's between five and six years, Edmunds figures show.
As Automotive News recently noted: "This snowball effect is just going to get worse as first 24-month cars, then 30-month cars, then 36-month, then 40-month cars don't come back as trade-ins -- because they were never built and bought in the first place."
"Replace your car now. If you were planning to get another car in the next year or so, doing so sooner rather than later may save you money."
Source: Why used-car prices are going up - Liz Pulliam Weston - MSN Money
I am confused because some people, like yourself, say values can only go down, while others have told me such things that are facilitated by this article.
Dec 23, 2010 | 12:10 AM
#7
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If the price is going down, could one assume an '09 Cayman S could be found around the middle of 2011 (July-ish) for the same price that one finds the pre-redesign, '06,'07,'08 Cayman S cars right now? And if one must compromise for pricing reasons the actual model of the car, would an '09 Cayman be preferable to an '08 Cayman S?