SKooT1027

Ive had my 944 for about 1 1/2 yrs now.. and i love the car and its still running perfectly. However, my plans have always really been to own the 944 for a few yrs, and then pick up a 951. I planned on trying to do this around the summer going into my sr year of college (this upcoming summer). Here's my question:

I would like to find a nice 951 (i have a few things in mind that are 'personal requirements') before selling my 944. However, Im not really sure how quickly the car would sell .. and I dont have enough money to buy the 951 w/o the cash from the 944 -- ill have enough after getting the money for my 944. So I was wondering how you guys would go about this? I also dont want to really sell my car before knowing theres a good 951 for me, because this is my DD and I really dont want to have to go more than a few weeks max w/o a car. The only thing I thought of was to like get a loan/finance on a 951 and then just pay it back immediately once the 944 sells, but im not sure if this is possible.

So basically .. if you guys were in this situation.. what would you do. Again, im in no rush to sell my 944 now.. im expecting sometime over the summer to do all of this .. however, I wanted to ask this now incase I come across a nice 951 before the summer and decide to act on it.

Fishey

bank loan.

nenehubert

Well, you are not going to be able to finance a car that old. A personal loan will be the only way ( if you are hard pressed for the cash), but then you are stuck with like 9-12% interest on that. If you are going to pay it off a.s.a.p i assume that will work. Best of luck finding a great 951. I found myself in a similar situation. The worst senerio is that you pay some interest, but everybody needs a little credit boost.

tifosiman

Someone could raffle off a nice 951 for charity, and you could purchase a ticket in the hopes of winning it.

Campeck

hehe.

Zero10

I was in a very similar situation.
I had my 86 944, and after 1 1/2 years of ownership, I was really starting to feel the itch of wanting a 951. Finally after 2 months of trying to fight the itch, I finally convinced my parents to pull the extra cash on their line of credit for me to buy a 951, under the agreement that I would sell my N/A, and they would get the funds from the sale. Then (since I was working summers) I could pay the remainder off over the next summer, with the interest paid as well.
Seemed like a good deal. I flew to NYC, bought my 951, drove it back to calgary, not 1 week after I got back to calgary, I drove my 86 NA to school, plugged it in, and got a call from the police at around 3pm that day. My car commited suicide, burning it's entire front end (search for fire pics, they are BAD). Anyhoo, there is a moral to this story.

SELL THE NA BEFORE YOU BUY A TURBO OR IT WILL GET JEALOUS.
In the case of mine, it got so jealous it decided it no longer wanted to live. It was a sad thing really.



In all seriousness, a line of credit is the best way to get a loan large enough to buy a 951 if you want them both. Plus, you can pay off the LOC early if/when you sell the N/A. They can be secured against things like cars, etc. This is probably the lowest-interest rate, cheapest, easiest solution. Just don't ever let the N/A see the turbo, or hear about how fast it is, okay?

aeronautica86

i take it you don't have a job (since you mentioned a couple weeks without a car is ok) so you don't *have* to have a car....I was in a similar situation, had an n/a, wanted a turbo but had to sell the n/a first in order to be able to purchase a turbo. Well, before I could really put the n/a up for sale I got in a minor wreck and decided to get rid of the car as it was rather than spending the money to fix it (profit for me would have been the same). This was early this year (march), my freshman year in college - so I planned on getting a 951 fairly soon....

fast forward to today, I still haven't found the right 951 for me, mainly because I'm picky and am looking for the right car, not just any car. So if you are going to be fairly picky, I would say sell the 944 asap, and just live without a car for a little while (its really not that bad, I've gotten used to walking everywhere) that way when you do find the right 951 you'll be able to buy it on the spot rather than having to wait for your car to sell. There aren't a whole lot of 951s out there and the ones for sale are snatched up pretty quick, and most sellers aren't going to want to wait a couple weeks for you to get your car sold.

Matt Marks

www.jjbest.com

They finance classic cars - need to have the car appraised and a bunch of other junk (and good luck if you don't have an established credit history)

I financed my 944S through them years ago - so I don't know what their current policies are - but give them a try.

SamGrant951

Banks wont finance old cars? Or they wont finance a car that old to people without established or good credit?

Matt Marks

yes to both. Most banks won't finance a car more than 5 or 6 years old as the risk of the car (collateral) depreciating past a value that they can recoup their cost should you default. If they do write the loan, it will be at a significantly higher rate than they do for new cars.

Same reason most banks are less likely to write loans to people with poor or non-established credit histories. They view them as higher risk of defaults - and couple that with an older car that is falling quickly in value - there's no money in it for the bank.

MoonBoy

I was under the impression the usually banks won't finance cars over 7 years old.
EDIT: Matt answered it better. Simu-post.

Jerad

Banks will finance a car that old. I financed my 951 and my first 944, stupid decision in hindsight but it has helped me establish a little bit of credit. My parents co-signed on both loans, otherwise I probably could not have gotten the loans. Find yourself a co-signer and the right bank and you should be able to get a loan.

Jerad

jgporsche

I didn't have a problem getting a loan for either of my p-cars. The bank just asked: How much do you want? How long to pay back?

ibkevin

Keep in mind that summer prices are the highest and lowest prices with best selection seem to be in the Oct-Nov time frame.

I know how you feel, I had my NA for about a year before I took the leap.

austin944

You could try doing a trade with a willing partner. Maybe a dealer would trade down, but I doubt you would get the best price and your selection of cars would be more limited.