May get a "deal" on a 928. How high to i go?
04-27-2005, 11:26 PM
#18
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Originally Posted by Scott Turnbull
Tarek for President!!! Your insight and advise is profound. 
I also can't help but think what your good friend might think about buying his car for $7k, potentially putting $1500 into the fix and new tires, and flipping it for $14k.
I also can't help but think what your good friend might think about buying his car for $7k, potentially putting $1500 into the fix and new tires, and flipping it for $14k.
you wouldnt give 14k for a car that stalls, so basically i am getting what i pay for. just dont want to walk into quicksand.
Remember this is my buddies dad. He got his $$ out of the car. it is just an old car as far as he is concerned. it is a project i dont need that may yield some $$ that i do need.
if his father gets pissed at the car one morning the call will come to get it out of his face. i come in with a home equity check, and we see what happens. i may like it better than my 944.
i used the car occasionally over the years.
04-28-2005, 03:45 AM
#20
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Run away...
Friends and money don’t mix so step back and think as if you didn’t know the owner for one minute. What reason would make you buy a 928 without getting a PPI?
Don’t let the thought of doubling your money (if you can) cloud your judgment. You need a PPI.
With 4200 posts under your belt, I would imagine that you have told your friend and his father about Rennlist and the 928 board. So, depending how you want to look at it, your post could be working for you or against you.
Just my 2 cents.
Don’t let the thought of doubling your money (if you can) cloud your judgment. You need a PPI.
With 4200 posts under your belt, I would imagine that you have told your friend and his father about Rennlist and the 928 board. So, depending how you want to look at it, your post could be working for you or against you.
Just my 2 cents.
04-28-2005, 08:14 AM
#21
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Just tell him what you're thinking is needed to fix the car, and let him decide if he wants to throw the dice again himself or let you have the car. Then it's all aboveboard. That's the old school way, people do nice things for other people. You might help him fix his car, or he may decide to be nice and give you a deal. You never know.
04-28-2005, 10:07 AM
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i told him change the crank sensor ten times. told him it may be the computer last night. my buddy said i can deal with it, he is done.
cant be more up front than that. my buddy has always been in a better financial position than me. i look at taking something, tinkering with it and making maybe a grand or two as a challenge and fun way to make money. he looks at it as a PITA, and his dad who actually owns the car is in his early 70s, and not a car guy. he had a 84 944 that he replaced with the 928, had a 356 in the 50s, and had a 280SL throughout the 70s till my buddy decided to fix it. there was always a caddy or big MB sharing the garage with those cars. he has the last of the old 7 series short wheelbase now as a DD, and the porsche is taking up his parking space while the 7 is in the garage. he prefers not using the garage.
cant be more up front than that. my buddy has always been in a better financial position than me. i look at taking something, tinkering with it and making maybe a grand or two as a challenge and fun way to make money. he looks at it as a PITA, and his dad who actually owns the car is in his early 70s, and not a car guy. he had a 84 944 that he replaced with the 928, had a 356 in the 50s, and had a 280SL throughout the 70s till my buddy decided to fix it. there was always a caddy or big MB sharing the garage with those cars. he has the last of the old 7 series short wheelbase now as a DD, and the porsche is taking up his parking space while the 7 is in the garage. he prefers not using the garage.
Last edited by Tom R.; 05-05-2005 at 02:44 PM.
04-28-2005, 01:47 PM
#23
I agree you should have it looked at by a 928 guru no matter who you are buying it from & especially since they are close friends. That way everything is in the open for both sides. No telling what might be lurking just around the corner that your buddy would honestly have no idea about but could cost you big $$ and any chance of profit, much less lots of headaches!
I have owned my 928 for less than a year & have already spent as much on it as I paid for it. I got a pretty good deal on the price cause the owner had bought a new 911 Targa & was tired of spending $$ on the 928. I still knew I would spend $ on it though. I knew even after seeing all of the receipts from the local Porsche dealer Brumos from the previous few years. I knew the 928 had been maintained & repaired as needs arose, but was still a 20 yr old car. I even spoke a length to the head of the service dept whom I called on a Saturday at his home about the car!(I owned a 1990 911 cab for five years so we know each other previous to me buying the 928). His advice.... he knew the car well, for a 928 it was a good car, good condition.... he said he recommended setting aside a large slush fund for the annual expenses to maintain & upkeep the car cause there is always something going out on them!
I have spoken to the previous owner of my car a few times since. We live only a few blocks apart. My calls were just to ask questions about some of the repairs, to get clarifications on what was done, or what the problems he encountered. I had to reassure him at times that I was not questioning his integrity or inferring that he hid things from me, just wanting to know as much about the car as I could find out is all. Each time we are ok with all of it, but it has had some awkward moments I admit.
Your friend & his dad seem to know what they are getting rid of & know what they are being paid for it. You are the one who is rolling the dice, not them. You might be getting a sweet deal or might learn a hard lesson about knowing as much as you can about what you are getting into before you get into it. The up side may be good, the down side might bite you in the rear!! YOU may end up being the one with the bad taste in your mouth if it goes the wrong way.
Good Luck, I hope its a sweet deal for you!
Mel
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I have owned my 928 for less than a year & have already spent as much on it as I paid for it. I got a pretty good deal on the price cause the owner had bought a new 911 Targa & was tired of spending $$ on the 928. I still knew I would spend $ on it though. I knew even after seeing all of the receipts from the local Porsche dealer Brumos from the previous few years. I knew the 928 had been maintained & repaired as needs arose, but was still a 20 yr old car. I even spoke a length to the head of the service dept whom I called on a Saturday at his home about the car!(I owned a 1990 911 cab for five years so we know each other previous to me buying the 928). His advice.... he knew the car well, for a 928 it was a good car, good condition.... he said he recommended setting aside a large slush fund for the annual expenses to maintain & upkeep the car cause there is always something going out on them!
I have spoken to the previous owner of my car a few times since. We live only a few blocks apart. My calls were just to ask questions about some of the repairs, to get clarifications on what was done, or what the problems he encountered. I had to reassure him at times that I was not questioning his integrity or inferring that he hid things from me, just wanting to know as much about the car as I could find out is all. Each time we are ok with all of it, but it has had some awkward moments I admit.
Your friend & his dad seem to know what they are getting rid of & know what they are being paid for it. You are the one who is rolling the dice, not them. You might be getting a sweet deal or might learn a hard lesson about knowing as much as you can about what you are getting into before you get into it. The up side may be good, the down side might bite you in the rear!! YOU may end up being the one with the bad taste in your mouth if it goes the wrong way.
Good Luck, I hope its a sweet deal for you!
Mel
85S auto
gold/brn
04-28-2005, 02:35 PM
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Tom very, very few people make money buying then selling a 928....very few. Just for grins borrow the car go to a new car dealer and see what they will give you in real money as a trade in on something that is in demand like a new Mustang or Scion Xb. What they will offer will be shocking (but some indication of true wholesale value)! And what do you do if the T-belt lets go,trans lets go,radiator leaks,steering rack leaks,Lh computer fails.........minimum is about $500,trans is 2k ,t-belt $2,000 to $7,000. When you consider how quickly your "investment" can increase I suggest you buy a 928 because you really want to own one and keep it for a long time. Trying to "flip" them will show you how thin the market is. Porsche stopped making 928s for one reason and one reason alone.......they could not sell them ! which does not mean it is not a GREAT car simply not one that is in demand.