My name is Angela and I inherited a Porsche 911 twin turbo with a lot of modifications. I have been going through all the paperwork and still have a couple of boxes full or receipt to go through.
I don't even know where to start. I rarely drive the car and I think I would be better off selling it as I know very little about it. The car was US$ 127,000 new and the receipts add up at over US$ 92,000 worth of parts/labor.
How do you suggest I go about setting a price for this car?
I would start by getting the Vehicle ID number and the miles from the car. Then call three of your area Porsche dealers. Give them the vehicle ID number and the miles tell them about the modifications on the car and request a buy figure from them. This will give you an idea of what the wholesale value is on the car. You can chose to sell it to the dealer or try to sell it yourself once you have an idea of the number.
There are many on line automotive websites available for you to post an automobile for sale. Autotrader.com is one and will probably get you good exposure; this is where a lot of people go to look to buy a car. You can see if there are any other cars similar to yours for sale on the site and what the asking prices are for the similar cars. Compare the other vehicles listed to your car. This will again give you an idea of what your car is worth.
This is a special car not your every day car depending on how much effort and time you want to put into the whole deal will determine what you will get from the transaction. Meaning if you want to get more then the wholesale price the dealer offers, you have to do the work yourself, talking with people and showing the car.
This is how I would recommend getting started.
Keep us postedï¿½.
〉 Answered on Sep 6th, 2013 by Cherie Watters, President Dealer Division at AskPatty.com
I know very little about the car you have inherited, but you can get an idea about its resale value in your area by checking out websites such as AutoTrader.com, Cars.com, KBB.com or NADA.com. Also, if you have a used car dealer in your area who specializes in imports, check out that website for similar cars.
〉 Answered on Sep 6th, 2013 by Georgia Brown, Director of Education at National Independent Automobile Dealers Association (NIADA)
There are several ways to determine whether to keep or sell the Porsche. After you determine all of the modifications that were made, you will have a basis for starting your search. Porsche dealers, specialty car auctions like Mechum, and the Internet are all good starting points. (the Internet is where I always start my searches) Once you are able to determine the value, and the costs to own and operate the vehicle it should lead you to a decision on "keep or sell".
And visit several Porche dealers rather than just one so that you get several opinions. All dealerships have a Used Car appraisor because they have trade-ins and they also buy vehicles from each other and auctions.
〉 Answered on Sep 6th, 2013 by Patricia J Roberts, Director Business Development at AskPatty.com, Inc.
Hi Angela, You need to get a professional appraisal. Without Year Make and serial number it is hard to tell what you have. Understand that modifications can help or detract from selling price depending on what has been modified and the quality of the modifiications.
〉 Answered on Sep 6th, 2013 by Chris Walsh, Owner at Consolidated Automotive Services of indiana
You need to take the car to the local Porche dealer and have them appraise the car for you, they can tell you if the car is in good condition and approximately what the WHOLESALE value might be. Keeping the maintenance records is a good idea but don't pass them on without blacking out the owner name and address information. You can also check online for approximate values of this particular automobile. The maintenance costs on this vehicle are relatively high and you need to consider that in your decision. Additionally the insurance rates are also high if it falls into the sports car category. If you don't drive it and don't want the added expense there should be a good market for this vehicle.
〉 Answered on Sep 6th, 2013 by Jessie L Thatcher, F&I and Sales Specialist at Reynolds and Reynolds Company (Retired)