The limited-edition 2023 Porsche 911 Sport Classic comes with a staggering MSRP of $273,750, but the fact Porsche builds incredibly expensive cars probably won’t surprise anyone by now. The most costly Porsche models ever produced have already appeared in every major automotive magazine and blog, but the average person can't buy these cars, and so they are more interested in Porsche models that are more reasonably priced. For all those who want to drive a sports car but don’t want to break the bank, the Porsche 911 might be the solution.
This Porsche is mighty fast, incredibly reliable, and very safe. However, despite its advantages and selling points, a used 911 can cost even less than $50,000. For instance, Edmunds has on its webpage various 911 models from different years, with prices ranging from $49,990 for a 2005 Porsche 911, all the way to $254,979 for a 2022 Porsche 911. In case you’re interested in buying this car, here's why the Porsche 911 is surprisingly cheap to own.
The Porsche 911 Is A Thrilling Daily Driver
“We don’t typically consider a sports car as a good daily driver. These specialized performance machines are kept in the garage or under a cover waiting for the weekend when it’s time to take them out for some fun,” says Motor Biscuit.
Let’s face it, most car enthusiasts don’t really use exotic cars and sports cars for daily drives, commuting or running errands because they are street-legal beasts built for speed. Usually, if you own a 911, you garage it and take it out during weekends. It is also quite common to own a 911 for weekend fun and a Cayenne for running errands and the morning routine. But this is wrong because a Porsche 911 is a thrilling daily driver. In fact, the German automaker intended to build an exhilarating car that is perfectly adapted for running errands and short commutes.
Porsche 911 Holds Its Value Well And Has Great Resell Value
Considering how fast cars depreciate, buying a make and model that maintains its value over a five-year period is a good investment strategy. Although owners can’t stop their cars from depreciating, they can still find models that lose their value slower, like the Porsche 911. According to Caredge, the 911 will lose 15 percent of its value after five years and get to a five-year resale value of $178,971. At the same time, Motor and Wheels points out that compared to its rivals, the German automaker retains its value for a longer time.
“Strong demand and historical reliability mean Porsches depreciate slowly and typically have high resale values. Also, Porsche is the top luxury car brand in terms of resale value by many used car dealers,” says Motor and Wheels.
The digital publication also highlights that the 911 will depreciate slower than other Porsche models. According to their data, the 911 loses 12.98 percent of its value after a year, 23.62 percent after three years, and 57.63 percent after seven years.
Meanwhile, the Panamera lost 23.63 percent of its value after a year, 55.01 percent after three years, and 74.24 percent after seven years. The Cayenne lost 26.87 percent of its value after a year, 44.84 percent after three years, and 70.01 percent after seven years. The 718 Cayman and 718 Boxster performed better, and they retained their value for an extended period. As for the 911, this classic sports car unquestionably requires a significant initial financial investment, but after that, ownership costs are surprisingly low.
Maintenance Costs Are Reasonable For A Sports Car
Repair Pal estimates that the annual maintenance cost of a Porsche 911 is $1,072. Evidently, prices vary according to model year, state, mileage, and even the mechanic employed for the job. Just to put things into perspective, the mass airflow sensor replacement can cost anywhere from $381 to $1,094, and the price for oxygen sensor replacement varies between $621 and $783. Repair Pal data also shows how Porsche 911 rivals have higher maintenance costs. For instance, owners of a Jaguar F-Type have an annual maintenance cost of $1,441. Elsewhere, the annual maintenance cost of a BMW M4 is $2,781, as per Repair Pal.
It’s also worth noting that the 911 is a very reliable vehicle, so if buyers treat their car right, they should be able to avoid expensive mechanic visits. In the J.D. Power 2022 U.S. Vehicle Dependability Study (VDS), the Porsche 911 received the highest score for trouble-free ownership. This was the second year in a row, that the Porsche 911 has won the title and the third time in the past four years, according to Porsche’s Newsroom.