KidA_OK

I am 22years old just out of college, and I really want to buy a Porsche 964.
I have $15000 cash to buy a car, and have $10,000 or so in savings.

I am usually an impulse buyer, but I need to get some advice and
think this through before I dive right in.

I take home $2800 monthly, my expense usually run $1800.
If i put $500 a month away for maintenance would this cover it?
Can I really afford the maintenance of these great sport cars? or is this just a pipe dreams.

Thanks guys!

68CGPlt

I just ordered 1k in parts to remedy a number of tired parts that I'll install with the new suspension (more $$$). To answer your question, I would honestly say wait on the Porsche purchase until your a little more established. A 15k 964 will likely cost you plenty in terms of replacing multiple worn items and never mind an unexpected engine or trans problem. I've seen top end rebuilds quoted from 5-10k on this site. I understand the desire, however wait and save so that you can get the Porsche you want as opposed to the one you have to settle on.

Good luck!

John D.

I'm posting this on my way back to my garage to work on Jen's 964 - so....

First - WELCOME to Rennlist!!!

Second - in real dollars you have the funds available to purchase a 964 - BUT (you knew there was a "but", right?? ).....

If you can do much of your own work and a garage to work in - yes... Be careful of that danged "slippery slope" as we will try to push you down that slope pretty fast at spending YOUR money on "upgrades" that are "required" (well, not really "required - BUT - they sure do work )...

In short... Buy the best example you can find for what your funds allow. As well, if it's not your "daily driver" - it will give you some time to enjoy the 964 as you work on it without any pressure to have "it 100%" on Monday morning...

And finally - BEFORE you buy a 964 (or any high performance car) - check with your insurance carrier, OK?? Some charge silly rates for men, under 25 years of age - for owning any Porsche....

But - I wish there were more younger folks out there who ask the questions BEFORE they buy, rather than later... And if you do purchase a Porsche - we'll be here to answer your questions...

Welcome...

John

Porscheholic

Lots of reasons not to buy (see above) - but they sure are fun!!

Easy for me to say wait now, because I'm 55 and can afford them, but when I was 22 I bought my first Porsche, and couldn't really afford it. But I had a lot of fun with it, and things have turned out just fine for me. Go with 60% heart and 40% reason.

raspberryroadster

...........agree

KidA_OK

thanks for the advice guys, i test drove a few this past month, and I was hooked. Now i know what they mean by "There is no substitute"

Turbohead

That's what we need some young blood!
good luck

ValveFloat

Funny, I was going to post that you should wait, invest that money, bla, bla. Then I read the replies, and remembered that I bought my first Porsche just out of college, I was unemployed, blew the my entire graduation gift plus a meager savings, and some credit on a beat 1968 911. I kept that car for 12 years, had all kinds of fun with it, and learned a ton as I did all the work on it myself.
So...
That sounds great.

altarchsa

If you buy, I think the 964 offers the most 911 value in the $12-25,000 range. I've owned 3 mid-70's era 911s and there is no comparison, even though they're all 911s. If you're like me, and you drove a few and are hooked, you probably won't listen to any of us telling you that you should wait anyway. You're hooked on the most beautiful and fun car for the money that I know of! But it's a crap shoot. If you spend $15K, you might be good for a year or two with usual maintenance only, in which case $500 a month will be plenty.

But consider this:

Even with what I think is considerable experience with 911's (owned three 911s with 10K to 75K when purchased, and with 5 DIY engine rebuilds under my belt), I made a mistake. I bought an "average" 964 for $16,000 three years ago. I thought it was a great buy because the seller owed a garage $11,300 for a complete rebuild and other major work (engine out twice - a first effort on the top end didn't fix it, R&R A/C, clutch, ECU, etc. Checked the garage out and it was reputable. Car ran great and looked pretty good. I thought I had a car I wouldn't "have" to work on unless I wanted to.

Well, I didn't even make it the 150 miles back home before the problems started. Three years later and an alternator, fuel pump, steering rack, wheel bearing, O2 sensor, coils plug wires, alternator pulley bearing, fan belt sensor, 3 oil hoses, sunroof seal... (so far), and that's not even the worst of it. In the 4th month after I bought it, it dropped a valve, tore up the cylinder, and bent the adjacent rod. After my first rebuild, it ran great, for about 3 months until the first autocross. After only 6 short runs, it started knocking.

Engine out again. Found what appeared to be half a valve keeper stuck between a valve and valve seat. Miraculously, there was no damage. I had accounted for all my keepers in my rebuild, so the only thing I could figure was someone dropped it down the injection system during some previous work and left it there, only to be jostled into the intake with the spirited autocross driving. I used the opportunity to replace all the "wear" parts that weren't listed as new by the garage I bought it from in their rebuild: rod bearings, wrist pins, rings, valve guides, rocker arm shafts and bolts, clutch kit, plus all the necessities - rod and flywheel bolts, gasket kit...

Car ran GREAT for about 2 months, until the next autucross. Another 6 runs, another knock. Not sure what it is this time, but the engine's on the floor again, and has been for about 4 months while I gather more $$$ and the time to work on it again. Obviously more than $500 per month! I can't afford to have it repaired by a shop.

I didn't over rev, and I don't think I'm an incompetent mechanic. I think the problem is now stemming from a bad crank, which I haven't touched in my efforts.

This huge, long rambling to let you know that like me, you mightspend $15K on a car, and if you can't do the work yourself and/or have a lot more than $500 a month to fix it, you might have a $15K piece of sculpture, not a car, for more than half the time, or longer, that you own it.

I guess the advice I'm getting at is:

1. Wait until you can afford the cost of the worst case scenario, or at least be aware of it if you forge ahead (which again is probably what I would do).

2. Save a while longer and spend $20-22K for the car. I believe that additional $5-7K will put you in a dramatically different car, and risk, category. I think you have a much better chance of getting by on $500 a month with a 40-60K miles car than a 100K miles car.

Otherwise, I agree with the previous post - go mostly with your heart. If you get a 964, when you're old I don't think you'll ever say "I wish I had made more money", but you won't have to say "I wish I had bought that Porsche"!

Best of luck on your decision.

941MXVET

You didn't mention if this was to be your daily driver or a weekend toy. I really enjoy our 964, but it's a weekend toy. If I need to replace some parts or are in the middle of an upgrade, and Monday rolls around, I'm still set with my Toyota P/U. If this is to be your DD, I'd advise against the purchase, if is to be your weekend toy, then go for it, they're GREAT cars!!


If you can't swing it at the moment, be patient, it'll come in time. Get yourself an MX bike while you still have some cartilige in your knees anyway!!!!

Indycam

Wait until you have twice as much money as what it takes .
Its a good rule of thumb .
Have you looked at a nice 914 ?

F2 Iceland

i'm 22 and i'm doing fine with my 964 + other P-cars....

Buy one,,, u only live once

Rally Guy

There seem to be a lot of "success" stories where guys have taken the risk - so perhaps it's not about the car - or the funds - but about YOU! How comfortable are you taking a big risk? How will NOT being able to drive the car affect you as you save money for an engine rebuild (again?)?

How will you cope with the car being undrivable for 2 weeks at a time as YOU have to fix problems because all you can afford are the parts? How will you feel taking the bus while your Porsche sits, broken, in the garage?

How happy would YOU be in a mint 944 Turbo?

I ask this last one since it might be the right course of action for now. You'll get a potentially faster, cheaper, easier to driver very fast real Porsche that way. And you'll be able to afford to pay someone to keep it on the road if you can't.

Now - a 944 is a far cry from a 911 - I have both. But I think I'm enjoying my 911 MORE after a 944T and the S2. I appreciate it more and working on the 911 is MUCH easier because I understand the ethos of Porsche 1980's-1990's engineering. And as a track toy for a new driver - the 944 will be much better to learn in.

I'd look hard at and drive a number of very good 944 Turbo's and perhaps hold off on a 911 till you can afford to buy two or three at a time - that's what I did and while I wish it had happened earlier in life - there's something to be said for having worked up to this ability. It's a nice reward.

RK

PS. Looking at F2 Iceland's current collection - I don't think funds are much of a consideration for him - he's clearly not going to be as constrained by cash flow as you are - I'd discount his encouragement only on the basis of him being in an apparently very different place financially than you. (And good for him - just not the same)

springer3

I was 22 when I purchased a basket case 1970 911 T. I restored it and drove it for most of 26 years. I rebuilt both the engine and the transmission during that time, plus replaced most everything else that wears. Cash flow was a problem some years, but I could always drive because most every need had long lead times. Nothing ever broke suddenly, but I did have a minor carburetor fire once (be sure to get the steel air filter housing if you get a carbureted 911 - it saved the day). Early 911s are great cars, and I miss mine even with the 964 in the garage. Steel exhaust that rusts, and no or lousy AC are two problems with all the early cars.

On the 964 I spend far less than your proposed $500/month budget. Mine cost me $27,500 in 2002 and is still probably a better example than you will be able to find for $15,000.

Now to your question: it depends. If you DIY most of the maintenance and repairs, you can have a great 964 on your proposed budget, provided you do not bail someone out of a major repair by purchasing their car. You can even drive it daily on that budget. It will take a few years to get it ship shape, but at $500/month you can buy brakes the first month, and a major service on the engine after the second month. After 3 more months, a set of tires is within reach. Another six months and you will be able to afford a set of marvelous Bilstein shocks.. You would have a great riding/driving car within 18 months, and hopefully sooner if you find a good example.

If you have to pay someone to work on the car, forget it. Mechanics work for a living, and dealing with a young person on a budget is far more work than their "cost no object" customers. Unless you know a competent mechanic who will take care of you, stay away from any 911. Examples that I have seen serviced at the corner garage are not worth owning, and were sending their owner to the poor house.

You should know by now if you are DIY capable. Own tools? No problem - but you might need to buy more. Some electronics repair experience? Even better. This site always responds to inquiries. There is expertise and willingness to lend a hand.

darth

Go for it! You'll have plenty of time to make money! I have nephews your age who don't know the meaning of saving money. The fact that you've saved that much is impressive. Also, prices have never been better for these vehicles.