Aaron Rouse

Strange, I have been watching the resale values of GT's and they have been falling in all the ads I have seen. I had been wanting to get one for awhile but decided not to and to pursue some fun with turbos which I will probably put on a 78-79 since those are exempt from the emissions testing here due to age.

Kaz

Aaron, I too have noticed that values on the 928's have decreased quite a bit over the last year. Something like $2000 in value vanished in a 6 month period for my car. No idea why. Anyway, concerning the warpage on the Honda rotors are they torqueing the lugnuts to any kind of specification when they put the wheels back on? If not that might account for the problem.


K

DougM

No money is lost until you sell the car. Recent events of the last year, recession and Sept.11, have caused all car markets to drop significantly, both new and used. Now is the time to buy a car, not sell it. Mid winter and end of a recession, there are lots of desperate sellers. In six months there will be half as many 928's on the market and good cars will demand a higher price.

Aaron Rouse

Yes, I keep forgetting a lot of "toys" are going up for sale these days. Even before all that though you could see nice GTS cars for $40-50k and seems like that is awefully cheap considering the original sale cost. Some have said the original year, 78, models are actually started to slowly go up in their resale value. I have not noticed the resale value of turbo 911/930 models going down though, they seem to be keeping their resale value through these economic times.

In regard to the Honda rotors, they are kind of thin in my opinion. I think the cause is the fact the car is driven at 75-85 most of the time and the brakes are not jammed or anything, they just go through a workout I suppose. Would like to find better ones for it, but my minimal searches on the web have only turned up better brakes for the Civics.

dr bob

Like I said, the justification I used was the cost of my particular car vs. a new Accord. My '89 turned out to be an absolute steal at $15.5k with 22k on the meter, and pretty good to perfect condition. Add $4k for first year start-up costs like taxes, insurance, registration, and the timing belt, etc, and you get to the $19k Accord cost at the time.

Since then I've done no real repairs except the AC, but have also only driven another 35k or so in the 4.5 years since purchase. So although I use it regularly when I'm home, it still doesn't get the use that a daily commuter or grocery-getter would. In return, the current condition makes it worth at least what I paid for it. I can't expect to recover tax, insurance, registration, etc. and realistically the new owner would expect to have maintenance up to date, at least half the life remaining in wear-replace items like tires and brakes. So maintenance costs can't enter into any sale-value calc unless a lot of big stuff was just done, and only then you might add in the difference between half the cost and without, distributed over miles somehow. Too complex!


No matter, the Honda would have depreciated more, especially sitting out in the sun, cold, rain, etc while the 928 languishes in the climate-controlled garage.


Cheers!


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JKelly

jgk62,

OFFICIAL PORSCHE BUYING RULES:

If your paying rent, don't have a garage, and commuting to McDonalds, then do not buy a Porsche. If you have less than $300 in your checking account at the end of each month and have no savings account, then do not buy a Porsche. If you buy a Porsche and spend your money on soda, cookies, BEER, movies, cigarettes, satelite tv, electronic gadgets, and such, when you should be spending it on your Porsche, then do not buy a Porsche. If you spend your money on a Porsche when you should be spending it food, water, and shelter, then do not buy a Porsche. If you have a couple of hundred or more "extra" dollars each month to budget toward future maintenance and repairs and also plan to do as much of the maintenance and repairs yourself as you possibly can, then by all means buy a Porsche. If you find a Porsche to buy, but cannot afford to purchase the Workshop Manuals to help with your maintenance and repairs, then do not buy a Porsche. If you cannot afford the Workshop Manuals, then you cannot afford a mechanic to maintain or repair a Porsche; therefore, do not buy a Porsche.

The question is not "Am I crazy to use this as a daily driver?", the question is ...Can you truely afford to use it as a daily driver? If you sell your other car, then it sounds as if you will have to use your new car, whatever it may be, as a daily driver.

The question is not "What kind of costs am I looking at for everyday maintenance (oil changes, muffler, tires)?", the question is ...Can you truely afford the costs of everyday maintenance? To find out if you can afford the costs of everyday maintenance on a Porsche, you must take about 2 or 3 hours every day for a month and do in-depth research about the full spectrum of needs a Porsche has (not just the upgrades you want to do) and the other possiblities that may and will arise, which you would need to take care of. The needs that a Porsche requires are on a much different level than a 4 cylinder compact car. The Porsche is a TRUE SPORTS CAR and is neither comparable to a camaro nor mustang. If what you find during your intensive information gathering does not scare you or your wife away, maybe you should consider buying a Porsche. In your case, it is necessary to have your wife's input in the matter because she may be your only link to reality.
Hopefully, this advise will ensure that your dreams are not larger than your pocketbook. A Porsche deserves a worthy home.


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jgk62

Thanks everyone for the great responses. I've been reading these and Phil Tong's boards (where did that go?) for the last year and it never ceases to amaze me the wealth of information and the willingness of everyone to assist other owners.
And yes, my wife is the realist and i'm the dreamer.
Thanks again...

John Struthers

Ahem,
Just knocked on wood...a long time...after reading this post and replies.
I am perfectly willing to accept the possibility that I am an exception to the high cost rule of thumb. But, even though the cost of Pattycakes was to high for a 82' Weissach 4.5L 3spd auto., - $8600.00 including the trip to San Diego and back.
She was and still is for the most part, a Cherry.
Interior is with the exception of a single crack on the pod - appeared in cold weather, December - and just this month light spydering on driver seat leather, immaculate! Paint was great but I have been attacked by geezer's in Oldsmobiles and Buicks, four door chips and, of course, the loose rock flying out of a belly - dropper, material transport truck didn't help anything. But then again she is MY daily driver/grocery getter.
Roughly, 17,000 miles since purchase, race Mustangs, Camaro's, Pontiac's, and others at least four nights a week - the hot rod pick up truck's don't even try anymore -.
Costs: 1 Interstate Battery - $119.00
4 oil changes , Mobile 1 - $100.00 approx.
a friend owns a lube joint and I got a bargin on the oil in case lots, should have bought a pallet of the stuff!
Bought a used recently rebuilt alternator for $125.00- for a spare.
About $100.00 of relays, fuses, bulbs and switches for spares. New belts came with car a huge ziplock.
AIWA CD player for $114.00 - sounds great!
I have invested about 40 hours of tinkering/repair time.
Washing/Waxing takes me about 25 - 40 minutes.
If you detail, allot yourself a day.
Pattycakes IS A PERSONAL LUXURY ITEM, of that there is no doubt. I have a 12 and 14 year old, THEY have savings accounts, College accounts, and small stock portfolio's. I am a heavy equipment -slave- operator for the highway department and will readily debunk anyone's notion of me making big money milking the government cash cow. Which is to say I have to organize available and projected bucks on a long timeline. Faces on all my currency look vaugely, Oriental due to excessive pinching and stretching...
All in all If you have some mechanical skills, are willing to learn more, are lucky with your purchase... and really want a sHARk... go for it!
Hell if you do the math- not counting gas- she has cost me less than $0.60 per mile and dropping this includes ins. and the price of spares which should offset the gas costs -a little. Bump that against the cost of a new car note.
John S. & Pattycakes <img src="graemlins/wave.gif" border="0" alt="[byebye]" />