How to Sell Your Used Porsche
Using the internet is a very effective means of selling your Porsche, though it requires a little know-how to get the best deal possible. Since the buying and selling pools are quite extensive with these kinds of cars, it’s worthwhile learning your model’s specifications, determining its faults, addressing them and finding a suitable arena to advertise in. Thankfully, a well-maintained car can fetch a pretty penny with a minimum of headache if sold correctly.
Robust but Fallible
Porsches are exceptionally well-built cars but time and poor instances of engineering can bring their value down significantly. Cars made prior to 1978 – the year in which weatherproofing became paramount – are subject to rust. Nothing will turn a prospective buyer off more quickly than learning of an unmentioned rusting undercarriage. However, it’s not only Mother Nature that the keen seller needs to be cognizant of.
One of the most glaring issues with any modern Porsche for sale is the Intermediate Shaft bearing, also known as the IMS bearing. This is the weak link in many cars and the astute buyer will likely inquire about this. This problem plagued the 996 models – sans the Turbocharged versions – later model 993s, some of the earlier 997s as well as the Boxster, and many owners found themselves scratching their heads when the failure of such a cheap piece led to a $20,000 repair bill for a new motor. After all, it’s just a bearing, but poor engineering meant that it relied on internal oil delivery and after tens of thousands of miles, oil would dry out and starve the intermediate shaft of lubrication. Unfortunately, this little gremlin drove down the price of 996s substantially, so ensure this piece is accounted for if you’d like to make a good return on your purchase.
Thankfully, it isn’t a very expensive fix, and having a recently repaired one will make buyers more comfortable with the notion of forking over their hard-earned money for a used, warranty-free car.
One fix is replacing the bearing with an aftermarket ceramic piece or a Direct Oil Feed IMS bearing, both of which can be done for around $1,000. Also, the wise owner can maintain constant vigilance against this noiseless time-bomb with an aftermarket IMS bearing sensor. These failures can happen in as little as 6,000 miles, so it’s something worth investigating.
Know the Buyer’s Mind
Most willing to shell out the money needed to buy a Porsche will likely do a bit of homework beforehand. Most experts will suggest that avoiding turbocharged variants or vintage 911s (ie. pre-1978) is the best way to go. If you take a look around at which models are most commonly driven, you’ll see a variety of mid-range cars from the last four decades. Of course, any Porsche that is well-maintained is an attractive buy, but the larger the market, the easier it is to get a fair price for your car.
Keeping a Service Record
Any enthusiast worth their salt will realize that, when buying a used Porsche, a well-documented service record is everything. You can comfortably sell a high-mileage Porsche for a respectable price if the car has been regularly serviced and documented by a respectable dealer or garage. Buyers will be apprehensive of cars with holes in their history or maintenance done in too many shops. The purchase price of many 911s is relatively low compared to contemporary exotics, but their maintenance can get quite expensive if not looked after. Therefore, when selling your used Porsche, the price you’re asking is contingent on a detailed record of your car’s history.
Sell Among Enthusiasts
If you’re serious about your car and have treated it with respect, a knowledgeable enthusiast will pay good money in recognition of your care and consideration. Websites like Rennlist, Porsche Club of America and Exotic Car List have huge followings of enthusiasts who have a good idea of what certain cars are worth. Fewer ridiculous counteroffers are made on respectable websites such as these. While the odd worthy buyer can be found on Craigslist, know that you’ll have to deal with tire-kickers asking “What’s your best price?”. Avoid the headache and stay within the community if your car is up to snuff.
Be Realistic
The value of Porsches varies widely and they all depreciate at different rates, so guessing their value is difficult to do. However, distinguishing between a mint car and a mildly-used car isn’t hard. If the minor scratch or door-ding doesn’t mean much to you, be mindful that people in the market for a used sports car might not feel the same way. Chances are, the discerning buyers are the ones who will pony up the big bucks.
Details are Crucial
Using the internet to sell your car can be hassle-free if done correctly. With the amount of money at stake in most of these transactions, a wise seller will provide plenty of photographs and as much relevant information in their advertisement as possible. Not only does this cut down on the back-and-forth which can ensue from a vague posting, but it tends to attract a higher-paying buyer. By providing as much information as possible, the knowledgeable buyer has more to consider, and that is something enthusiasts all appreciate. Considering how Porsche buyers are some of the more pragmatic sports car owners out there, assume they know a thing or two about the model you’re selling.
Options are Irrelevant, as is your Bond
Most used Porsches’ prices are subject to the market, their condition and their mileage. Guards red seatbelts, a navigation system or custom wheels don’t often have an influence on the price of a used car. Many buyers will avoid private sellers for fear of what psychologists refer to as the “Endowment Effect”. It may have been your baby for decades, but sentiment doesn’t affect its market value, unfortunately.
Though it may tug at the heart strings, separating with your Porsche can be financially rewarding if done properly. Know that a sense of enthusiasm and responsibility in ownership go a long way. Porsche fans can be shrewd people and look for fervor in a seller, because that reassures them and implies the car was maintained well. A comprehensively-documented past, plenty of photographs and some specific knowledge of the particular model makes the seller look reputable and trustworthy. With a bit of thought and preparation, selling a used Porsche can be quite lucrative, so hopefully those proceeds will mitigate some of the pain.
