This 450-HP Porsche SUV Now Costs Less Than A New Camry
Performance SUVs and high-end SUVs have a tendency to lose money fast after the first few years. CarEdge estimates that luxury brands only retain around 50 percent of their value in the first five years. The market is now full of once-expensive, powerful, and sporty used premium SUVs that are alluringly cheap.
This is exactly what has happened to the first-gen Porsche Cayenne Turbo. It now has a lower price than a new Toyota Camry, and it goes without saying that you can have a lot more fun in a Cayenne. Here is why its value has plummeted and what you should know about buying one.
Six-Figure Luxury SUVs Don’t Stay Expensive Forever
Buying a high-end new SUV is an expensive business, but keeping one can be just as costly. Models like the Range Rover Sport and BMW X5 often start life with massive price tags, particularly the more potent iterations. However, once the first owner takes the biggest depreciation hit, that same performance and luxurious equipment can become much easier to afford.
There is a catch, though: luxury SUVs have plenty working against their resale value. Typically, high running costs, expensive repairs, and rapid updates in the market put a lot of people off, even when there is plenty of life left in them.
Depreciation Can Put Serious Performance Within Reach
If you’re in the market for a used performance SUV and don’t want to spend new money, there are plenty of options. Take the Mercedes-AMG GLE 63 S; when it hit the market back in 2016, it cost $108,000. Fast-forward a decade, and Kelley Blue Book says it has an average used price of $24,000.
Yes, you are likely to face German-grade maintenance costs, but the same 5.5-liter M157 V8 rated at 577 horsepower and 561 pound-feet, the same AMG SPEEDSHIFT PLUS 7G-TRONIC transmission, and the same 4.2-second 0–60 mph times are still up for grabs.
The First-Gen Porsche Cayenne Turbo Is Now A Cheap V8 SUV
Introduced to the market in 2003, and concluding with the 2010 Cayenne Turbo, this potent, luxurious, useful, and fun performance SUV can now be bought used for as little as $4,250. The first-gen Cayenne Turbo is split into two model ranges: the 955 (2003–2006) and the 957 (2008–2010). Classic.com says the current average auction price for the 955 Cayenne Turbo is $12,413, with the least expensive model in the last 12 months selling for $4,250, and the most expensive going under the hammer for $26,500.
Classic.com also says that the 957 Cayenne Turbo has a current average auction price of $17,810, with the least expensive model reaching $8,000 at auction and the most expensive model fetching $39,597. Like all used vehicles, condition, mileage, and service history push the price up, and the most expensive model was in very good condition and had just 25,000 miles on the clock. To put this into perspective, though, a 2026 Toyota Camry has a starting price of $29,700 and a top-end price of $37,625.
The Original 4.5-Liter Turbo Puts Out 450 HP
The most potent flavor of the new Camry is the AWD version, which is good for 232 horsepower. While the Cayenne Turbo and Camry are inherently different beasts, there is absolutely no winning here for the Camry when it comes to performance per dollar.
Model years between 2003 and 2006 get a 4.5-liter DOHC bi-turbo M48.50 V8 good for 450 horsepower at 6,000 rpm and 457 pound-feet of torque at between 2,250 rpm and 4,750 rpm. 0–60 mph times have been clocked at 4.9 seconds.
Model years between 2008 and 2010 get an even more powerful mill. These models are rated at 500 horsepower at 6,000 rpm and 516 pound-feet at between 2,250 and 4,500 rpm, courtesy of a 4.8-liter bi-turbo M48.51 V8 with direct injection. 0–60 mph times are more or less the same, but the later generations have a higher top speed (165 mph vs. 171 mph).
Things Get More Powerful With The Turbo S
In 2006, Porsche released a standalone Cayenne Turbo S for the 955 lineup, and though it has a slightly higher Classic.com-reported average auction price of $14,026 than the 955 Cayenne Turbo, the upgraded M48.50 V8, good for 520 horsepower and 530 pound-feet of torque, makes a case for spending more.
For the 2009 and 2010 model years, the Turbo S got more powerful. Under the hood is a 4.8-liter M48.51 V8 good for 550 horsepower and 553 pound-feet of torque, which translates to 0–60 mph times of 4.5 seconds, and a top speed of 175 mph. These are the most expensive models from the first-gen Cayenne Turbo lineup, but with a current average auction price of $28,227, they are still cheaper than a new Camry.
Cheap Cayenne Turbos Come With Some Very Expensive Risks
It is unbelievably powerful and fast, and it wears a Porsche badge, so why is it so cheap today? Alongside an iSeeCars-estimated depreciation rate of 74.4 percent after 10 years, let alone after 16 to 23 years, the first-gen Cayenne Turbo has some foibles that can be very expensive.
Plastic Coolant Pipes And Bore Scoring Can Lead To Major Repairs
The 2003–2006 955 Turbo’s V8 has a well-known cooling problem: plastic tubes beneath the intake manifold can become brittle and crack, causing coolant leaks. RepairPal says that it will cost up to $121 for diagnosis alone, while an upgraded kit, which tends to consist of aluminum tubes, can cost north of $2,500 with fitting.
Bore scoring is also something you should look out for. However, it is not every 4.5-liter Cayenne that is affected. The M48.50 V8 is considered less susceptible than the naturally aspirated M48.00 V8, but scoring can still happen.
On the 2008–2010 957 Turbo, the M48.51 V8 also suffers from it, and coolant crossover pipe leaks. If there is a coolant leak, the water pump may also need replacing, which RepairPal says will cost you between $1,523 and $1,816.
Specialist Inspection And Strong Service History Are Essential
With a used performance SUV like a Cayenne Turbo, a more specialized inspection may be worth your time. RepairPal estimates a pre-purchase inspection for a Cayenne costs between $220 and $322, which is a small outlay compared to what major problems can cost.
Ask a Porsche specialist to check the engine for bore scoring, the Tiptronic six-speed transmission, transfer case, and air suspension, because all are prone to failure and high repair costs. Making sure that the plastic cooling pipes have been replaced is also vital if you want to keep the engine coolant where it should be.
Can You Afford To Own A Porsche That Costs Less Than A Camry?
According to Edmunds, a new Camry has a five-year ownership cost of between $30,184 and $37,516. That makes it one of the most affordable cars to own over the short-term. On the other hand, the Cayenne Turbo is not a particularly affordable SUV to own, with FuelEconomy.gov saying that the Cayenne Turbo S will cost you $5,700 a year for gas alone. Toyota has a well-established formula of being affordable to maintain and reliable; Porsche is relatively reliable, but not cheap to fix.
The redeeming factor is that you are not going to enjoy the Camry as much as the Cayenne Turbo when it comes to old-school luxury and sporty prowess. The trick is to find one that has been well maintained and doesn’t cost so much at auction that ownership costs become unmanageable.
Sources: Porsche, RepairPal, iSeeCars, Edmunds, and Kelley Blue Book.
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