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

CarVertical: The History Checking Service Use this link or code "JAYEMM" for a discount! www.carvertical.com/gb/landing/v3?b=1e4c9523&a=JayEmm&voucher=jayemm&chan=jayemm

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.

Irrelevant, but that build in the background is the craziest and probably coolest PC I've ever seen.

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.

I found out last week that my local Porsche dealer has 70 new cars unsold, in stock on their forecourt. Glad the bubble has finally burst.

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...

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

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 😮

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.

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.

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

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

Great vid Jay, thorough analysis and kudos on spotting the trend.

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.

I was an existing Porsche customer this time last year wanted to buy a new car all I heard was 2 year wait if you’re lucky and we can’t sell you anything and btw apr is now 14% so unfortunately left the brand, they just weren’t interested so now all the people they dismissed they now need…good luck

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.

This video came out at the right time for me. I’m in the US looking to purchase my first Porsche, a base 911, and thought the dealer markups was something normal. I’ll be sure to not fall into this trap. Thank you!

A lot of people who bought a GT3, bought it to speculate… thinking that they’d use it for a year and then they would resell it without loosing any money, or even maybe making some profit… thats why there are soooo many used GT3 992 on sale… the selling price is overpriced obviously, that’s why they are not getting sold. Buyers are not stupid anymore… at least not the majority. PS: Very good video!! I love your videos!!

This was such a wonderful video Jay!! I've subscribed to you for this.

Marvelous video, same is happening with a lot of articles that were under speculation over this past years.

I live in Detroit and have worked in over 50 car plants and I can tell you you are spot on. You absolutely nailed it. $75000 US for an average Bronco. And you have to wait 6 months to get it. Crazy!! What comes next is the bigger question.

Love the fact that your auto trader postcode was the McLaren factory 😂😂😂

Awesome insightful video Jay! Appreciate your content and opinions 🙌

What a brilliant synopsis, thank you for your insight 🙏🏼

So many of the new Turbo S's available on the Porsche website are ridiculously over optioned. You can only think that the OPC's have ordered these for their stock, massively specced up to try and make as much margin as possible, which would probably have been fine at the peak of the market when cars were short, but now no one is buying them they are going to really struggle to shift them without significant discount.

I bought a Spyder RS. I went to the dealer and told them I want one. And I got one. on MSRP. (This was my first Porsche) They wrote in the contract: I need to drive it at least 1000km (I drove 2500km already and I don't want to sell it at all! :) )

This is a great video just getting ready for work (running out of ) and I’d really like a RU-vid “short” version of this!

Jay, I am absolutely mesmerised by that wall mounted PC behind you. What a build!

Jay, you are correct about being able to walk into a dealer and purchase a GT2/3. I did so back in 2005 and the salesman was shocked I was even asking for one. He literally started asking me about tracking it and other such fanatics. He took me for a test drive in a Carrera 4S. He made His point. Now the story is flipped of course. $150,000 extra for a GT3, ouch 🤕! 😢

Here in California it’s still, absolutely INSANE. The 2 Porsche dealers around me won’t let you spec anything but Macans, and have used 911 4s for 160k, and gts’ for 190k…. As I said, it’s mental.

Very entertaining and informative wrap on the Porsche market! Love your work ❤

Hi, non related. But are you a cook in your day job?

Yep. It’s why I bought an MX-5 ND2. In this market it’s the only thing that makes sense. And I don’t feel like I’ve compromised at all as it’s so much fun to drive.

Best cartuber vid I've seen. Awesome amount of facts and zero clickbait. Looks like the Porsche crowd are learning the hard lesson the watch business has experienced over the last year. The heavy hitters are losing huge amounts and Rolex are getting back to list price on every model.

Love what you did with that wall-mounted PC and its custom loop. Very cool!

Truly fascinating video, one of the best I've seen on your channel , you should produce more content like this.

I have a 991.1 GT3 and modified and 63,500 miles (four tours of Spain), no finance, but car insurance in London quintupled, so now have the expense of secure parking. Many people are being scared off by huge increase in insurance premiums (mine £2k to £11k)

That spiral you describe at around 15:00 reminded me of the situation that led to 2008s economic crisis. A bit like a micro-version of that, really. Either way, like many others here, I can only hope that the "buying a car as an investment"-phenomenon will decrease again to a decent level (i.e., only for exclusive old classic cars). That way, these special Porsches can get used as Porsche intended.

I’m in my late 60s….retired Navy Officer and retired Federal LEO. The year I turned 50, coincided with making O6 in the Navy….and I gifted myself a pristine very low mileage 944S2 Cabriolet. I drive her only in good weather….keep up with her service…..and last summer I tripped her clock @ 60k miles. I love the car, it gets positive comments and questions everywhere I go (with one gent recently asking me “is that the new Boxer?). Anyway, I’ve always wanted a 911….and recently, I’ve half-heartedly been looking for one. But……maybe not? I’m too “senior” to consider paying “stupid money”! Anyway…brilliant insight in this video, sir….Bravo-Zulu, well done.

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.

Luxury watches as well. Interest rates have caused a slow down and people are reconsidering their choices. Love these deep dives into what's happening!

Great video Jay :) My favourite game as a small town car salesman is to watch high end dealers inventory continue to be discounted by $10K - $150K very week on “so called, rare or investment cars” that they bought in peek market when wholesale prices didn’t exist because everyone was paying over. Thank goodness I buy Hondas’s and Toyota’s to resell. In southern Ontario, Canada dealers have been dropping prices like crazy. With used car interest rates now around 9% you better have cash for that Porsche or G Wagen. The days of cheap finance money are gone and only the truly wealthy are in the market now looking to capitalize on the downward trend. Don’t be fooled by BAT and others sites showing inflated prices. I’ve seen people manipulate markets at auctions for decades. It’s the same group of people who buy and comment everyday. They’re protecting there assets because they have a garage full of them. Buy what you love and drive the hell out of it or shine it up and keep it mint. Less then 1% of cars increase in value over time.

this is such a good analysis, thank the lord I will never get tired of my car

Brilliant episode! Fascinating analysis of the Porsche marketplace. Also, thanks for sharing that Autotrader price tracker plugin info, never realized such a handy tool existed.

By far my favourite video you’ve ever made. Great insight and well researched

Love that open PC build

I love all the videos you put out there, this makes me fear putting money into a high ticket item and will look for more deals as the market drops and corrects again.

Spot on!! Great factual summary

Great video! I owned a couple of good used 944s in the 90's, which I bought for very reasonable money, but then left the UK in 2003. Even though I will never own another Porsche, I've continued to keep an eye on UK prices and I've been shocked at how expensive they have become. The bubble had to burst at some stage and a lot of people are going to lose a lot of money.

Great episode, your car market insights are fantastic.

Thanks for the info... Nice Job!!!!

Slightly off topic but I went to my local Porsche dealer interested in a Taycan. I turned up in my X4 M Competition. I was honest with the guy about my budget and - for what they had in stock I was about 4k short. Had he offered me a test drive I might have found that 4k or met him somewhere in the middle. His advice? Keep the X4! I went to Audi who were happy to let me test drive an RS Etron GT (same car essentially). It was 12k over my budget. But I test drove it. And I wanted it. And I found the extra money to buy it. Basically the Porsche guy (who drove a mini electric) assumed that I couldn’t afford one of his cars and let me walk away. I will never return.

A very good video firing up memories from the 1970/80s when I owned four or five Porches over a period of maybe 15 years. I never lost money and always made, say £1000, when sold. That changed dramatically in the early 2000s. My 2002 996Twin turbo lost £2000 a month. I was a vehicle leasing broker during these dramatic years so saw people suffer at first hand. Awful times that may return.

Jay - fascinating video. Love to see your thoughts on the classic P market

Hi James, I had a Honda CRV EX in a special order colour, bought just before the pandemic. Got a call from the dealer a year later offering me a pearl black one with a free 5YEAR servicing package as a STRAIGHT SWAP for mine! Never had such a thing in my life before!😂🤷🏻🤯 Great vid as usual!👍

I’m not normally a fan of schadenfreude but I’ll smile at porsche suffering. I’ve bought lots of their cars in the past but when I’m told I can’t have another GT3 without having to play games and buy cars I don’t want to bump myself up a list… It was only a matter of time before market forces changed and they will be begging for the customers they previously treated with disdain.

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 vid. Quite informative

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

The band wagon of making a quick buck from recent years has seriously cause a dent for true car aficionados around the world. If one truly enjoys the ride, the market value has little to do with the pure joy of driving and ownership. Fantastic video, a reality check from the demand and supply game being mirrored to luxury watches as well.

What a nice thing to see the market slowly being returned to the collector / buyer. Was long overdue. I am hugely into watches as well, and the same thing has been happening there.

great production, very useful info.

Absolutely fascinating, great job.

Excellent recap and timeline. Seriously… spot on! I’m completely ok with where we’re headed. Sold my 997.2 C4S past peak but broke even for 6 years of ownership and 45k miles put on it. To drive it for “free” during that time feels like a luxury. Keeping my 991.2 T basically forever and would gladly add a GT3T if prices felt like they were tethered to planet earth.

Brilliant detail & content

Fantastic video Jay!

Spot on explanation James... great video, really. I think the morale of the story is: Buy whatever car you LIKE, WANT and CAN AFFORD. And enjoy it.

Cars, watches, all having massive price corrections, cheers fella, as always a really great video.

I worked in the semiconductor industry at the time of the shortages. A fire wasn’t the real reason for the chip shortage. All of the auto manufactures thought sales would fall off the cliff and cancelled all of there orders, not realizing the time it takes to process these chips. About time they realized their mistake, chip manufacturing shifted their focus to the new demand. Servers and laptops supporting work-from-homers.

Thank you for this extremely informative video! I bought a 7 year old Boxster S in 2012 for $33K and when I was looking at 7 year old Boxster S cars in August of this year they were over $60K!!!!! I didn't know what the hell was happening but now I do!

Your best video this year ! Porsche and Rolex have the same problem - they both got greedy ! ❤

Seems like the car market is coming back to the car fanatics, and it was about time 😍 great video again JayEmm!

Wow.. just wow.. You definitely hit the nail on the head with this video! In 2021 I actually got a BMW 2 series 240i "used" with all extras and 758miles on the clock for 12k £ less than a new one. It's the same car I am still driving today. Only for year later to see the prices sky-rocket and wondered WTH?! How come my car is now more expensive than when I got it?! Respect for the research and the video! PS: A Porsche over 100k £ is just insane.. it's a mechanical car - not made of gold. (I still wish I would have bought that 944 in 2013 now though :)) )

Very interesting. Fantastic video. Subscribed 👍

This has been coming for a while and good to see a concise view on the matter It was completely ridiculous what happened to the prices of the so called special low volume GT cars and the Turbo S. Folks who paid overs must be feeling pretty sick and angry with Porsche, their ruthless dealers and the Celebs getting them discounted and now the bottom has fallen out of the market McLaren suffered a few years back but they really are low volume and to a degree more special and their prices have been more robust because of it.

what i have never worked out is how porsche got away with making so many models, you order a car and by the time you get it the new model is announced

I'm more into previous gen models, but this was really interesting. Thanks! 🤘

Great info, great video!

The perfect storm of: higher production, much higher interest rates, and vast increases in retail prices. There will be some real bargains to come. Great analysis James! McLaren postcode 😂. The other Autotrader bloodbath is the M3 Touring; 121 for sale, and that figure is increasing rapidly. There was a new Rubystar Turbo S for sale the other day at about £162k, nearly £30k off.

Very interesting James, thank you. I guess a lot of folk who love driving in the UK know that you don't need the 'halo' cars to have true driving enjoyment. I recall a few decades back the classic car market had a recalibration and many speculators lost money.

Very good and informative video. Thank you for that. May I ask what is the set up that you had behind you with all of the fans? It is so incredibly cool I just kept looking at it the entire time.

Simply brilliant and informative. Thank you so much (from USA).

Always look forward to these longer essay type videos.

Still think the special stuff will be difficult to get a hold of and carry premiums. However, the days of buying a regular Carrera S, driving it for 3000 miles and getting your money back (and maybe then some) are over for now.

FINALLY! Most people who really want one have already bought one. Therefore, these cars will become bargains compared to previous markets until the car market balances itself out!

Thank for the explanation on the craziness with Porsches the past few years.

Here in Germany, most of the cars are still overpriced. For the last 30 years I almost always bought 2-3yo luxury cars, mostly 7-Series, S-Class, Range Rovers, and typically they lost about 60% of the original price, so I was able to buy almost "new" cars for less than half the price. Yesterday I went to my Mercedes Dealer and they wanted 129k for an S580, that was new 155k in 2021..... Prices are just too high at the moment

Yes I think the entire sports/ supercar bubble has burst at the same time the interest rates went up. Good for genuine car buyers bad for flippers this will hopefully change the allocation game or at least make sure the right people get the cars. I would say if you have a car like this enjoy it let the tough times pass.

Hi James. Thoroughly enjoyed this. One of the best vids you’ve done. 👍🏻

I drive a 911 but I never bought a car as an investment, only for pleasure and to keep it for as long as possible or at least exchange it at the main Porsche dealership to get a price reduction on the newer 911 model. My advice to anyone looking for a 911 for pleasure, instead of buying the more expensive GTS, Turbo S or even GT3 models, look for a more humble simple Carrera and pick all the options you desire in it. If you think the price isn't that expensive for you, then do the same with the Carrera S, and so on. You can skip the simple 4 and go from S to 4S but personally I'd switch directly from S to GTS if you aren't looking for a much more expensive Turbo or GT3. Just know that generally a version with a very good amount of options picked tends to be the base price for the next version, as in a fully decked out Carrera will be around the base price of the Carrera S, and so on. Nobody's going to be making fun of you for not having the most expensive 911 because there aren't a lot of people who can afford the base one anyway. Also don't forget that while you might afford to BUY a Turbo or GT3, don't forget that the yearly expenses on it are going to be much more expensive than any Carrera simply because the engine is that much more powerful. To get you an idea, it's 931,66€ for the annual road taxe on a Carrera where I live, it's 2086,13€ for both Turbo's and 2374,94€ for both GT3's. That difference in yearly expense gives you enough "saving" to allow you to modify a part of your car every year to a couple years.

You're absolutely right re the 992 turbo s. I bought a year old 992 c4s in 2020 before the prices went crazy. I was looking to change it last year and couldn't believe the quantity of turbo s on the market and the fact people had paid overs. As you said the turbo models never held their money. I think I might change the 992 for 991 GT3.

Brilliant analysis. There's something to be said about not spending right up to the margins of your budget on any big purchase. The scenario you've outlined here for the Porsche market were the precise circumstances of the 2008 housing market crash. My dream was a Cayman GT3 but I settled for a used, low mileage base Cayman. I was able to pay cash and I enjoy more had I borrowed on the GT3.

Well done Jaime.... Tom here from New Zealand. A very well researched review of where the world may be heading ... save your money and you might pick up a bargain.

Very interesting information, JayEmm. I have a 997 Turbo which is a somewhat daily driver. Bought it in 2018 at a good price and lived through the ups of the market and now, the downs. I'll probably run it for a few more years - enjoying the heck out of it. I'm not a car flipper but you're shown how some folks are locked into a soft market and stand to lose a bundle of cash. Should be some relatively good bargains in 2024.

I think, when you pick the right model, enjoy it for a while because you want to own and drive it, depreciation will not be your main problem. For example one of the last flat six Caymans. But you have to bare in mind that meanwhile you use a Porsche you will have pretty high maintenance costs which will presumably not be covered by the potential selling price.

Jay, Porsche, Ferrari, Lamborghini and the rest of the exotic cars have benefited greatly from the financialization/bubble/unlimited fiat currency printing. It's coming to an end now and it will be very interesting to see how they do in a world without "free" money and the wealth effect. I'll be looking to purchase one when reality hits.