1 Used Porsche Model’s Prices are Crashing
Porsche’s sports cars are too damn expensive. I said it, I meant it, and I’m here to represent it. Not only does a new Porsche 911 command near supercar prices, they don’t depreciate. But used electric vehicle prices are plummeting. Used Porsche Taycan EV prices crashed 28% in the past year.
Why are Porsche cars so expensive?
So you were watching Steve McQueen in Le Mans or Margot Robbie in Once Upon a Time in Hollywood and began wondering how much could a Porsche 911 possibly cost? Then you got on the Google machine for a rude awakening: a new Porsche 911 starts at $100k! And some classic models can run you even more.
As your friendly neighborhood automotive journalist, I’m here to tell you there’s no mechanical reason the cheapest new Porsche costs more than the most expensive Hellcat, a Cadillac CT6-V, certain Jaguar F-Types, a Model S Performance, or even certain Mercedes AMGs.
I won’t deny that the entry-level Porsche 911 is an excellent sports car, cleverly balanced, and a hoot to drive. It always has been. But it is no super car. One reason they’re so cool is because they were engineering-forward but always relatively affordable. So historically, cool people could drive Porsches. Note that in 1970 Janis Joplin was singing “Lord, won’t you buy me a Mercedes-Benz” while driving a Porsche!
Because cool (often broke) people drove them, the 911 has become the Ray Bans or Rolex of the sports car world. And modern Porsche is cashing in on its image. The 2023 Porsche 911 starts at $114,400. If you’re counting your pennies, consider the 718 Cayman, which comes in at $68,300.
Porsche launched the Taycan to keep up with the electric era in 2019. A fully-loaded Porsche Taycan can run you $300k.
If you want a depreciating Porsche, consider going electric
Porsche has carefully maintained the iconic design of the 911. For this reason, like a Jeep Wrangler or Mercedes G Wagon, they depreciate much less than the average car. In fact, iSeeCars estimates that the 911 depreciates less than any other car, losing just 9.3% of its value over five years. The average is 38.8%.
But now there’s a glimmer of hope breaking through rock-solid used Porsche prices: the Taycan. Electric vehicles are currently losing 49.1% of their value in their first five years. In the past year, their prices have dropped even quicker, with Teslas leading the charge. But the Taycan isn’t far behind.
The average used Porsche Taycan value is down 28% compared to this time last year–according to the Fourwheel Trader YouTube channel (embedded below). Certain expensive models are down 40% compared to last year. Considering that certain Taycans cost less than the 911 when new, there are bargains to be had.
The 2020 Porsche Taycan had an MSRP of $103,000-$185,000. According to the Car Gurus site, the average used 2020 was listed at $131,490 a year ago. But today, the average is $89,860. The top of the lineup is where we see the value falling the quickest: the highest listings for used 2020 models are $107,159. If you are dreaming of a Porsche, that’s a deal worth looking into.
Next, find out how Ferdinand Porsche pioneered the EV, or learn more about crashing Taycan prices in the video below:
