Mighty Shilling

Well, the reason he wants me to go through a credit union, is so he gets a fatty check to pay off his new to him 911....

Yeah, as for the clutch, I'm not sure... I too doubt it, but whatever. Oh yeah, Dad's put in delrin suspension bushings, and replaced the ball joints, so those are off of my mind too... no leaks. It needed paint when he bought it, so that's not a big deal to me... I want to have it resprayed eventually, but that's not vital, espescially with how this thing runs...

Ok, Dad bought it about a year and a half ago for $15,000, put on a bunch of mods, (wastegate, intercooler, etc. etc.) put about 3,000 miles on it... This thing runs like the holy ghost with spiked reeboks, so a $2,500.00 break in what he paid isn't that bad... he did put some sticky race rubber on there, and I was planning on removing that soon anyway, as I want a more, every day tire that lasts more than a day...

Crazy Eddie

This is about as far as I go in family matters, but Dad has money stuffed in that mattress somewhere If he's buying the 911... I am sure another 10 K isn't going to kill him
Tell him that when he puts the money in the bank it still belongs to him
Besides, he is getting interest on the money ( in fact more than he would ever get if he had the money in the bank himself )
Commme oonnnn.... Lets get this deal done

Mighty Shilling

Eddie, he's already got the 911...

lleroyb

Sounds like a fair price. Also it would be a good way to establish credit, if that interests you.

Lou

bearone

$12500 from you dad, cheep cheep cheep. charging you for room/board too?

being a parent with kids 27, 25 and 16, i would think that most dads wanting/buying owning a 911 would/could write a check but then he's helping you establish credit to help himself out.

87951

Mighty Shilling

Yeah, establishing credit is a good thing... I've already got great credit, just not enough of it... hence the cosigner.... but yeah... I'm gonna go to the credit union and talk it out with them

Porsche-O-Phile

Whatever you offer your dad, tell him I'll match it and raise $100.

Crazy Eddie

To each his own
I just think, keeping the money in the family, is the best way to go, and it proves your responsibility to your parents. I have to believe they are going to charge a 7% + rate?, for a used car and I really don't think they will lend you the total book value of the car....
Good luck either way
ps Your credit will defiantly be improved by going to lending institution but at what cost ......?

cobalt

I just walked from a stock 89 with 100k miles, needed very little other than the power steering lines leaking and a few other minor issues. Most all records, service completed as needed. All belts and necessary maintenance done 15k miles earlier. Paint was a 7.5-8/10 and interiror was an 8/10. Very clean strong car for the mileage. Looked like a good 100k mile car from underneith, had good leakdown etc etc. Asking price was $10k.

I ended up buying an 89 S2 for much less. Based on Excellence numbers the car i looked at was a fair price. They said add 10-15% for low mileage. If the paint is only a 5 out of 10 I would have to agree $10k max maybe $11k or $9k because it's your father. Although thats between you and he.

If you know and like the car it is only money in the end. Go for it if you really want it.

Good Luck

WesM951

I don't think $12,500 is a bad price, but considering it needs a clutch... yikes. At least you have the 2peice x-over. Even then, plan on spending $1000 for the clutch. I think $10k would be more reasonable, or 11k.

Mighty Shilling

Well, just got back from talkin with the credit union... they're gonna loan me $11,270, so I'm hoping that Dad'll go for that. 5.7% interest over 5 years... definately gonna pay it off before that, but payments are $200 a month... EASILY affordable. so, lookin like things will fall into place.

Crazy Eddie

Wow 11K that's amazing ( virtually no money down !!)
and a 5.7% rate
Boy, I would have never thought that low a rate for a used car and to lend the total book value ...
I still would offer dad 5.0% direct
A clutch job here, is in the 2k ballpark ....
200 a month..... what is this a 6-7 yr loan

streckfu's

$11k from the loan.

That means you need to talk him down to $9.5 pushing the clutch issue.

95Juan

beat me to it.


you're going to need part of that 11k to fix the car.


that's what i did with my 951. the car was 8500, talked him down to 7500 cuz it needed some key items (ball joints, tires, and i broke a CV joint the day i got it) so i got 10k and fixed it and had some money left over when stuff broke later

(stuff WILL break on a 951)

Mighty Shilling

Well, the clutch isn't dead... I have suspicions that it MIGHT be dying... but it needs more investigation... and I'll just need the cost of parts for that... yay for doing your own wrenching!

and I know things break... I've been in the Porsche world for, what, going on 5 years now...