Best way to evaluate pricing for used GT350R

[AgSurfer]

Trying to evaluate some pricing for used GT350Rs. Finding that KBB is not very helpful and grossly different when pricing used GT350Rs versus what dealers are asking. What are users suggestions for how to best evaluate reasonableness of dealers' pricing for used GT350Rs?

For example - 2016 GT350R, 2,695 miles, Oxford White, pristine condition (mats and others items still in the plastic), electronics package, etc. - dealer asking $64,900. Seems a little high to me based on what I am seeing for used 2018-2020 GT350Rs around the same mileage.

Thanks for the help.

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[svassh]

They are all over the board to be honest. If you look at recent auctions on bringatrailer.com you can get a good feel. I feel like the prices are a bit inflated as with all used cars. If you can afford a budget of $65k I would look for a newer model 2019/2020. They are out there if you don't get too picky on what colors and options.

 

[ecoboost321]

Don’t forget to add the 5% buyers fee when you see those auction prices on bring a trailer. But I agree, it’s a good comparison as these are cars actually sold, without any dealer markup.

 

[dom418]

Have some friends in the dealership industry and they confirmed what I have been seeing. Prices are up. They aren’t making them anymore so people want them. His asking price is fair if you ask me.

Not seeing many sell in the low $60s anymore. Last year that was the case.

 

[shogun32]

2016 GT350R, 2,695 miles, Oxford White, pristine condition (mats and others items still in the plastic), electronics package, etc. - dealer asking $64,900.

that is preposterous!
2018 GT350 with ~2000 miles (or around that) were 45-52 back in '19 and that wasn't a one-off. Sure, no more new ones can allow prices to appreciate somewhat but not to that extent. Take 15% off for first year and 5% each year after and that is the high-water valuation IMO.

play with https://goodcalculators.com/car-depreciation-calculator/
A 5 year old car should be absolutely MAX 30% off sticker and really should be not a penny over 35% off. Normal cars are bouncing around 45-50% off.

But of course some fool will probably pay that ask and so dealers will hold out waiting for that fool to show up.

 

[LxMike]

Supply and demand. There are no more being made (supply) so they think they can demand higher prices... Let them sit on them a while cause people are all excited about the new mach one now...

 

[dom418]

that is preposterous!
2018 with ~2000 miles (or around that) were 45-52 back in '19 and that wasn't a one-off. Sure, no more new ones can allow prices to appreciate somewhat but not to that extent. Take 15% off for first year and 5% each year after and that is the high-water valuation IMO.

play with https://goodcalculators.com/car-depreciation-calculator/
A 5 year old car should be absolutely MAX 30% off sticker and really should be not a penny over 35% off. Normal cars are bouncing around 45-50% off.

No offense but that is bs. A 2016 R in 2019 for $45,000? Show me.

What does the car being 5 years old have anything to do with it? It’s not focus we are discussing. This is a specialty car, not only does your formula not apply, but used car calculators as well.

Look on Facebook, Autotrader, bring a trailer. $65k for a 3000 mile R is not preposterous

 

[fmc_smt]

Welcome to the age of covid ............low production numbers for new and used sky rockets . I know no 21 350s , vut it is across the board for all brands.

 

[shogun32]

No offense but that is bs. A 2016 R in 2019 for $45,000? Show me.

care to re-READ what I wrote? '18 GT350 (not R). Depreciation is a fact of life and every bit as applicable to special cars like Porsche and fancy-pants BMW and even so-called Shelbys.
https://carsalesbase.com/us-porsche-911/

Let's pick a comparable car: 2016 Carrera GTS coup with 2500 miles. today 84k, new 114 (124 in 2021 dollars) for 32% depreciation.
Carrera S coup. today 75k, new 99k (108 in 2021 dollars) for again 30% depreciation.
That is from NADA and the mileage is fully 20% inflator over a 'usual and customary' valuation.

But those are Porsche, REAL performance cars with meticulous fit and finish and quality.

A 30% discount after 5 years is wholly reasonable and PROVEN. That people who buy Shelby's can't do basic math is not my problem.

Thus, the most expensive GT350R you can configure—Triple Yellow with a black roof, racing stripes, and the Technology Package—would sticker for $66,860.

So back to our 'R' in question. OP didn't post the original MSRP but we know it can't exceed the above figure. So a 30% haircut would put it at (67k * 1.09) = 73k * 0.7 = 51k. That should be the bid on that car. If you want to pay a couple grand more, have at it. Paying 14,000 more just means you're a fool. And that doesn't even account for the likely possibility of a new engine you're gonna need in short order.

 

[dom418]

care to re-READ what I wrote? '18 GT350 (not R). Depreciation is a fact of life and every bit as applicable to special cars like Porsche and fancy-pants BMW and even so-called Shelbys.
https://carsalesbase.com/us-porsche-911/

Let's pick a comparable car: 2016 Carrera GTS coup with 2500 miles. today 84k, new 114 (124 in 2021 dollars) for 32% depreciation.
Carrera S coup. today 75k, new 99k (108 in 2021 dollars) for again 30% depreciation.
That is from NADA and the mileage is fully 20% inflator over a 'usual and customary' valuation.

But those are Porsche, REAL performance cars with meticulous fit and finish and quality.

A 30% discount after 5 years is wholly reasonable and PROVEN. That people who buy Shelby's can't do basic math is not my problem.



So back to our 'R' in question. OP didn't post the original MSRP but we know it can't exceed the above figure. So a 30% haircut would put it at (67k * 1.09) = 73k * 0.7 = 51k. That should be the bid on that car. If you want to pay a couple grand more, have at it. Paying 14,000 more just means you're a fool. And that doesn't even account for the likely possibility of a new engine you're gonna need in short order.

You make ZERO sense.

In your original post you made no mention of referring to a non R. Thanks for the edit. Second, we are discussing evaluating an R, why compare a non R? Makes no sense

You math does not apply to this car nor any limited production specialty car. You are delusional to think the car in question is worth $51,000. Get in touch with reality and come back with a real number.

You have a lot of distain for the 350 and that is pretty apparent. Not sure what value you bring to this section full of enthusiasts except negativity.

The 350R is a REAL performance car. Since when does fit and finish impact resale value? 93 Cobras, 03-04 Cobras ring a bell?

 

[shogun32]

You math does not apply to this car nor any limited production specialty car.

that is your opinion. If it applies to 911 Porsches it applies to everything short of <500/yr semi-production cars in the 7+ digit price point.

 

[Hack]

Remember that in 2016 almost ALL Rs and many regular GT350s were going for over MSRP. I know it doesn't necessarily factor into resale, but the depreciation curve on the GT350R is going to be very different than a car with higher production numbers and less critical acclaim.

Porsches do initially depreciate quickly I agree. I don't know whether the GT350R will follow the same formula.

 

[shogun32]

Remember that in 2016 almost ALL Rs and many regular GT350s were going for over MSRP

sure. but the OP isn't buying a 2016R, he's buying an 'R' and year doesn't matter. It's just that he's got an example from 2016 handy. From a valuation perspective he's probably better served to find a '18+ with more miles which should be closer to the correct slope and as he's already observed. So he posed to question as "what is up with this 16's price?"

Irrational valuations show up in all kinds of places and are typically short-lived. If OP wants to bet on being able to get out of his purchase in the future and not suffer mean-reversion in the meantime, he's welcome to try. I wouldn't take that bet. And I absolutely wouldn't take that bet on a '16 being offered at that price.

 

[JR369]

So back to our 'R' in question. OP didn't post the original MSRP but we know it can't exceed the above figure. So a 30% haircut would put it at (67k * 1.09) = 73k * 0.7 = 51k. That should be the bid on that car. If you want to pay a couple grand more, have at it. Paying 14,000 more just means you're a fool. And that doesn't even account for the likely possibility of a new engine you're gonna need in short order.

You will never own an R without a salvage title.

 

[footnfan]

I found my 2017 with 31 miles just after production closure was announced for 69K, or the sticker price. I was very pleased to fond a virtually new car for sticker, just before the market went a little crazy. 650 miles now, about 5 month later, but the first 130 was put on driving it back to Naples!

The new car, and the old one!

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