BillZ260

I'm basically looking for some help pulling the trigger here, this maybe a little long winded for a first post but here goes.

I have wanted a Turbo 911 since I was a teenager, I think it all started with THE Yellowbird, I had a centerfold out of some car mag, i can't remember which and have always been a fan of the 911. Right now I have the opportunity to buy and drive one for a year or so. It's a long story but basically, I won't have a need to be able to carry around anyone else other than my wife and my self for about a year or so. 996 Turbos are at an affordable range for me and thus, I want one!

I recently sold a project '74 260 Z with a V8 and a 5 speed that was fun to drive but ended up being a little scary to try to drive it at speed, and it was pretty uncomfortable to be in for anything longer than 30-45 min drives. It was a fun "extra" car but rarely got driven so I sold it, and once I did we got a new rule, one car per driver...

I am looking to get rid of my posh FX4 F150 and daily drive a 996 Turbo, until the long story is over and i'll need room for kids and what-not.

So the emotional side of me is "Just get one already!"

Now to the rational side, I am hoping the 996 is close to the bottom of it's time based depreciation, and it looks like it will cost me about 30ish cents per mile in milage/use depreciation while i drive it, or ~$300 per 1k miles or about 300/month, since that is what I'm going to be driving. So if i drive it for 6 months, I will loose about 2 grand in use, which i'm ok with but also the loss on the truck it becomes a little more painful.

Financially, shouldn't i push to just buy the 996 and make payments on it till I sell, keeping the truck and incurring no losses on it (its almost paid off)? I could just stow the truck in the driveway till we need it again although it is a little crowded with more than 3 cars in the drive?

Help. I'm venting and wondering and just looking for perspective I guess thanks, Bill.

"02996ttx50

car costs easily a dollar a mile to drive all things considered. sometimes more. costs me 20 bucks to get to the store and back easily.

i would never buy a used car of this age without warranty on "time". if you cant buy it outright, financially id say you are at the edge of being able to afford it. what happens if your 25k engine blows up? and you owe 25k on it!

see my point? it's not a first car, it's a 2nd/3rd/4th whatever car. though it CAN be driven daily rear tires are 400/550 a copy, ya dig?

so not to step all over your dream, get the car.. just know there will be unanticipated costs, and my hunch is they will squeeze you mercilessly.

rmc1148

If I couldn't pay cash I would pass. Sounds like your not quite ready for this type of car wait until its a more clear definite decision. This is not the car to buy on impulse.

5ive0

I was in a similar position as you were... planning to get into a 996tt when I had saved up enough. I ended up getting one two years earlier than planned for these two reasons:

1/ The deal and car that I found was perfect and I knew I could sell it in a year for what I bought it for.

2/ In Westcoast Canada, turbos have stopped depreciating. I've been watching for a while. 2014 was stagnant and so far in 2015 the prices seem higher. Unless the economy goes to crap, I can see our cars holding fairly steady for the next few years.

You should budget for the following to help your decision. Budget a somewhat generous $3000/year for repairs and maintenance. You should also budget for increased insurance and premium gas. If you're not ready, then save up for a year or two, then pull the trigger with confidence. Or just keep looking, and if the perfect car comes along, well then, thats just fate.

highlander

If you are pinching pennies just to afford the car, this is not the car for you. Cost of maintenance and repairs can be eye watering, and on a 10-15 year old car, you are going to have repair bills.

If you are into DIY, then a lot of these costs can be mitigated as most of the $$ are labour, but that assumes you have the facilities, equipment, skills, motivation and time to do repairs/maintenance yourself.

Just from reading your post, I'd say a 996TT may be a little too much risk for you right now.
If you are not risk averse, then go for it, but be aware that this is not a risk free decision...
Good Luck!

Shadetree930

This is not a commuter car.

It is not a cheap car to drive and maintain.

It is a car that will make you smile every time you pull on the door handle to get into it.

Sometimes you just gotta say eff it and do something impulsive.

This may be your time.

Good luck with your decision.

BillZ260

Thanks for the input guys, looks like you all are sitting on both my shoulders... I have the money, the insurance is like 10 bucks a month more than my truck, gas will be about the same, im only getting about 14mpg right now and typically buy premium. I could pay cash, but with 3% interest that seems silly. My wife doesn't want me to have two cars, so i'm basically saying can I drive this car for 6-12 months, expecting normal deprecation but probably less than any other $40K nice/fun car right? I mean, i could buy a new truck, but it will loose more in a year than a good example of this car, right?.

What i'm having a hard time with is the transaction costs of: Sell Truck, Buy Porsche, sell Porsche, buy Truck, just to have my dream car for a year or so, while i'm somewhat young. Again, i can afford the costs associated, maintenance, etc, but part of me is wondering if it's worth it.

Other wise, it's wait till i'm retired.

5ive0 - said it, "if the perfect car comes along, well then, thats just fate"

Also drove a 996 C4S, which was plenty of fun, till i drove the Turbo...

Looking at another car on Monday, will see what my heart says.

x50type

996 Turbo is not the car for you in your apparent financial position.
I'ts definitely a second or third car unless you make >$250k p.a. salary range.
You mentioned trade in and trucks - not Portsche territory.

Atrox

I like you am in the younger spectrum of ownership and it is by far the best money I've ever spent. I saved and bought the car outright but I also have two other vehicles that are my dd. I would not sell a practical car (truck) to buy an impractical car (porsche). I made sure my wife's car was paid, then truck, etc. I like you have drooled for years over the 911 and i fought impulsive decisions on buying one for years. Long story short you want to "own" this car and not have the car "own" you. On another note I could never imagine getting rid of mine after only a year. Car is an absolute happy day maker that I find countless excuses for to drive and that's exactly what I do drive aimlessly smiling the whole time.

Plenty of cheap na 996's out there.

MDKK

You're getting some good advice from the guys here. Obviously they all like their TT and the easiet thing for them would be to tell you "yes get it", instead they're giving you the most sensible and honest answer.

It's your call, at the end of the day no one knows your finances/situation better than you do.

BTW, I can't follow your logic of buying cash vs. financing. Unless you're making more than 3% return on your cash then financing at 3% will cost you more, pure numbers. Most "safe" returns are below 3% nowadays, but then again, you know what you're return is better than any of us!

Good luck with your decision.

AeroTurbo

Here is a simple rule of thumb based on my personal experience. Pay cash for the car, have the same amount in an account for major repairs, maintenance, and mods.....and be able to walk away from the entire thing with nothing to show, and still have a happy marriage and no Prozac requirements, then its the right time to buy. With all that said, getting behind the wheel of my Turbo is one of the most enjoyable experiences in life so do make sure you join the club when its right

TeCKis300

You didn't really mention if you're handy or not...though since you mentioned you had a project car, I suspect you might be.

That's potentially a huge factor to the cost of ownership. Lots of little things to go wrong on the car (especially boost leaks), even on a good low mileage example. If you can't take care of these yourself, either because you don't have a backup vehicle, skills, or tools, it's going to be a major expense.

On the plus side, no reason to limit your enjoyment to a year, unless you're trying to limit sunk costs in another vehicle. I have two car seats in mine to drop off my 1.5 yr old and 5 yr old on a daily basis. Even though I have a nice cush SUV, it's the one that sits in the garage as my kids and I prefer the 911.

"02996ttx50

if you are working yet broke and have credit that will handle the 1k+ a month. get a newer tt that has a cpo warranty.. or get into another dodge. or get outa dodge whatever lol.

you're gonna buy a car that within a year will need btw 5 and 10k worth of "stuff". whether discretionary or necessary to turn the key. think man, you're young. cash buy or you're pissing in the wind. it's a 30/40k toy.
i'd love to see you get it, but sacrifice NOTHING to play.

Atrox

Yeah you're plan sounds desperate, this shouldn't be That stressfull. Babies are expensive, and you're wife will change considerably after the kiddo. So two schools of thought buy it now because after the baby that pretty little porsche will become something she will place over you're head because you are spending to much time with you're toy and not the kid. Other school is wait till kids about a year old then buy so you're wife has nothing.....wait never mind wife's will always put stuff over you're head. If you can afford it buy it. You won't regret it. Just make sure the wife can drive it too.

"02996ttx50

yeah, make sure your wife can drive it thats important. not lol