Get Out While You Can! The Crazy PORSCHE Market is Officially FINISHED - Here's The PROOF

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I think a more accurate title would be cheap credit has now finished. Blowing £100k of credit on a new sports car isn't the top of everyone's agenda since their mortgage repayments have doubled.

Interesting times ahead! I just hope the outcome is that more of the GT cars find their way into the hands of real driving enthusiasts rather than the speculators.

I have always said the best way to get value out of a car is to buy one you really like and then drive it as much and for as long as possible. Enjoyment, extensive use and not caring about resale value is the way to go.

Same with the premium watch market. Authorized retailers had a waiting list (they say). The gray market was the only way to get a premium watch and off course at a premium price. It became a flippers dream.

It’s not just Porsche - it’s the entire sports car market.

This is a great reminder to buy the car because YOU want to own and drive it! Don't buy it because of it's perceived future value to other people! The market is slowly returning to some semblance of harmony and equilibrium. This is equally true in the UK market as it is in the US right now.

Hopefully it will trickle down to the more pedestrian models as well. Right before the market went insane I was finally in a position to afford a used Boxster S. Then they doubled in price overnight! Hopefully they'll come back to Earth soon...

Great video, the same thing is happening in the property market too, the amount of properties which have huge discounts around London ( some up to 50%) cheap money is no longer a thing and as people realise interest rates will be higher for longer they are rushing to get out.

Having been through this recently with 2 Porsches, let’s not forget the air of arrogance shown by the dealerships “oh no sir, you can’t just buy the car, we allow you to buy one” this never sat well with me. Beautiful things for sure, but the dealerships are just crooks, wait until you get your first service bill 😮

It just seemed weird that at the point where I was old enough and finally making enough money to get into the top tier cars that they boosted into stratospheric prices. I refused to follow the prices up, figuring that everything will eventually return to sane levels.

Fascinating analysis with lots of real-time data to back it up, thanks! One additional observation is that smaller specialist finance companies that advanced money on the basis of high residual balloons are likely to come under a lot of stress if cars are returned at the end of their finance term as many owners won't want to re-finance at today's interest rates and underlying market valuations. One point you made personally struck home - I bought an end of line-up 2015 Boxter 981GTS as a daily driver in around 2019 partly on the basis that Porsche declared it would be the last naturally aspirated model that wouldn't be replicated in the 718 range and hence might become a future modern classic ....except that didn't turn out to be true. In my personal case, I'm pleased that I didn't have to finance the purchase and am happy to affordably enjoy it every day. Many others might become in the 'negative equity' trap you outlined.

I have been wanting a 992 for the past few years but I couldn’t find myself paying the overpriced listing. I am a car enthusiast. If we, as consumers, decide not to buy the Porsche at these ridiculous prices, then prices will have to come down as they are now. Hope that trend continues.

With the economy uncertain, not buying a car right now makes sense for a few reasons. Firstly, cars are costly, and in uncertain times, it's crucial to save money and keep your finances stable. Using public transport or rideshares can save you money. Secondly, technology and car-sharing options offer convenient transport without the expenses of owning a car, like maintenance and insurance. Moreover, fewer cars mean lower emissions, contributing to a greener planet. Choosing eco-friendly options supports global efforts to fight climate change. Lastly, waiting lets you assess your finances when things stabilize. You can focus on saving, investing, or other essential needs like education or debts. Being patient and evaluating your needs can lead to a wise and financially responsible decision about getting a car.

Excellent video Jay. To further make the point, as of yesterday (14th Nov 2023) the Porsche UK website was listing 226 NEW, unregistered 911s. Of these 45% were Turbos or Turbo S models. I’ve never seen new 911s available from stock never mind more than 200. Of course this in part will be due to Porsche clearing their parts inventory ready for the 992.2 build program.

Have to say I think this is the most interesting informative video you've done James. I've been a Porsche nut since being a teenager and am on my 4th. For many years I studied the Porsche Market pretty much on a daily basis but then just got bored of seeing these cars commanding stupid money none of these are really worth 3,4,500k are they. Let's be honest. And also what you say about dealers turning into arses was something you just didn't experience 10/15 years ago. You reap what you sew. Great video and very very interesting as to where the market is now.

I didn't buy my Porsche to make money. I bought it to enjoy it.

I bought my 991.2 GTS. After your surprising positive review. I bought it before things went crazy and I don’t really care if the value is going down

I remember back in 1974 I was looking at Jaguars at my local dealership. It was the last year for the XKE. They had several lined up in row. They couldn't sell them. 1974 was a major economic downturn. Inflation was over 11 percent. Those cars were so pretty all lined up in a row in different colors. I sure wanted one.

I'll keep my 19 year old Mondeo... gentle depreciation curve now😂