Do Porsches Hold Their Value? What To Know
A Porsche is a luxury sports car that’s built like no other. From speed to design to handling, Porsche seems to top all the charts. But do these luxury vehicles hold their value over time?
A Porsche sports car holds its value better than most other car brands. Even when they’re used, Porsches can still be found selling at almost 90% of the original purchase price, depending on the exact model. Some owners even find that their Porsches have gained value over time.
Now that you know how well Porsches stand the test of time, you’re probably wondering which models to keep an eye out for. Let’s take a look at the best Porsche models and some of the reasons why they hold their value so well.
Do Porsches Hold Their Value?
You may be surprised to hear that Porsches maintain their value better than almost any other car brand. This is largely because Porches have an expensive purchase price and are built to last.
The high initial price tag of a Porsche allows the company to build these cars out of the best parts available. Using quality parts ensures the car will last for a long time, even if it’s just parked in the garage.
Therefore, while Porches do depreciate, they don’t depreciate nearly as fast as other car models do. Some popular models even increase in value, as long as they’re well cared for.
Which Porsche Models Depreciate the Fastest?
Although you can expect most Porsches to hold their value quite well, some models do depreciate faster than the average Porsche. Below are some of those models.
The Porsche Panamera model depreciates faster than almost any other Porsche. In fact, within 3 years, this specific model can lose over half of its value.
If you are looking for a car that doesn’t depreciate, the Panamera probably isn’t for you.
After the Panamera, the Cayenne is the Porsche model that loses its value the fastest. While you’ll only find yourself out 44% of the car’s original value after 3 years, by year 7, you’ll find the car is only worth 30% of what it was worth when you purchased it.
The Macan is another Porsche model that loses its value relatively quickly. Owners of this model will find their car losing about 40% of its value after 3 years and 64% of its value after 7.
While this isn’t great, it’s still better than most other vehicle brands on the market.
Which Porsche Models Hold Their Value the Longest?
While the above list can be a bit concerning, there are many Porsche models that hold their value like no other car. Here’s the list of the Porsche models that hold their value the longest:
The Porsche 911 is so good at maintaining its value that it won a Kelly Blue Book Award. Owners of this car can resell their car after 7 years for a little less than half of the price they purchased it for — and that’s extremely reasonable considering that most cars are only worth a few thousand dollars after 7 years.
If a Porsche 911 owner decides to sell their car after just one year of ownership, they’ll typically find they can get around 87% of what they paid for it, something which is unheard of with most other car brands.
For Porsche owners who want to sell their cars after just a year, the 718 Cayman is the best model to choose. This particular model only loses 10% of its value in the first year.
If you decide to keep it for 3 years, you’ll find you still get 72% of what you paid for it. After 7 years, it aligns with the 911 model: You’ll likely get almost half of what you paid for it when you sell it.
The 718 Boxster comes in very close to the 911 Porsche, since it loses just 28% of its value after 3 years. If you want to own a Porsche for 7 years, however, this is the top model to choose; it loses the least value at only 55%.
Is a Porsche a Good Investment?
A Porsche can be a good investment, depending on where you live and your lifestyle.
Porsches only hold their value if they’re driven for relatively average number of miles each year. This means that they’ll lose value faster if they need to be driven for a long commute each day.
Since Porsches can be expensive to maintain, they are a better investment for someone who will use it as a second car or who works from home or nearby. Those who need to drive multiple hours each day should look to invest elsewhere.
Additionally, a Porsche can be expensive to insure and store. If you have an extra garage, then a Porsche can be a good investment for you, but if you have to pay for a garage across town, there are likely better-suited investments to consider.
On the other hand, if you have the space and don’t need to rely on your Porsche, then it’s one of the best cars you can invest in.
All in all, there’s no better car to invest in than a Porsche. They tend to hold their value better than other vehicles and can still be resold for a significant amount of their original purchase price at any time.
And if you’ve already decided to invest in a Porsche, the 911 and 718 Boxster models are the way to go.