What is your philosophy on buying and keeping cars?
02-07-2018, 05:01 PM
#16
Burning Brakes
I typically keep cars for about 18 months. Trying to find the next car is a big part of the enjoyment. However my .2GT3 is the first car I've ever custom ordered, is the most expensive car I've purchased, and has long been a dream of mine. So it's hard to say how long I will keep the GT3. Right now it's easy to say for ever. But my past says something different. Several of my co-workers have a bet going on how long I keep it. Time will tell.
02-07-2018, 05:24 PM
#17
Rennlist Member
Keeping in mind I am an outlier in regards to how most folks deal with vehicle ownership (and all other inanimate physical possessions) ... not only because of my disposition but because of being blessed with the resources to do my thing.
First and foremost I am not a collector. In my human form, I recognize that the one thing I can never get more of is time, it is my most precious possession, and it might be taken away from me at any moment. Accordingly, I like all my vehicle experiences to be limited to the story arc beginning with desire, ownership, extracting the most I can out of the experience, and discard it as soon as it has been lived. The idea of repetition is anathema to my sensibilities and perceived as time wasted not experiencing something new, something different. Some might refer to it as vehicular ADD, others as a calamitous search for never ending physical possessions to fill the soul crushing void within. Either way ... potato tomato.
So yes, five daily drivers in four years, almost twice as many sports/fun cars, four current cars including my GTI that I drive the most because it's not about what others see, and four Porsches and one AMG either on order or about to be ordered ... all of which will likely be held for less than a year and 1k miles, not because I'm speculating or flipping or gaming my cash flow, but simply because I will want to move on to experience different things in the limited amount of time I have left. Not that I don't recognize that the Porsche market enables me to have this approach with limited losses (at least for now), and I do appreciate that, but I do the same thing with other brands that are not as blessed, it's just how I am.
And then there's the watches ...
First and foremost I am not a collector. In my human form, I recognize that the one thing I can never get more of is time, it is my most precious possession, and it might be taken away from me at any moment. Accordingly, I like all my vehicle experiences to be limited to the story arc beginning with desire, ownership, extracting the most I can out of the experience, and discard it as soon as it has been lived. The idea of repetition is anathema to my sensibilities and perceived as time wasted not experiencing something new, something different. Some might refer to it as vehicular ADD, others as a calamitous search for never ending physical possessions to fill the soul crushing void within. Either way ... potato tomato.
So yes, five daily drivers in four years, almost twice as many sports/fun cars, four current cars including my GTI that I drive the most because it's not about what others see, and four Porsches and one AMG either on order or about to be ordered ... all of which will likely be held for less than a year and 1k miles, not because I'm speculating or flipping or gaming my cash flow, but simply because I will want to move on to experience different things in the limited amount of time I have left. Not that I don't recognize that the Porsche market enables me to have this approach with limited losses (at least for now), and I do appreciate that, but I do the same thing with other brands that are not as blessed, it's just how I am.
And then there's the watches ...
Describes my feelings towards cars and other "things". A life well lived is a life filled with new experiences.
02-07-2018, 06:39 PM
#18
As I get older I like money more than cars....what used to be a new car every year and holding on to a car for about 18-24 months has been stretched out some.....my 458 turns 5 end of this month and see no reason to give it up.....probably sell it and go to a FGT (05-06) at some point in the future......just got the RS and will likely keep that for quite some time....all these cars going turbo actually helps the bank account as it's not overly exciting to make a switch, yet.....
02-07-2018, 06:45 PM
#19
Instructor
Generally, my philosophy has been to buy, drive and enjoy for a long time. And in theory still is. However, I've had the reasonably good fortune to get the opportunity to buy a a couple of hard-to-get cars before my .2 GT3 (BMW 1M, GT4), that I could've approached one of two ways: Flip for a profit, or drive and enjoy for a couple of years and still get to sell or trade with above average value retention. I opted for the latter. Still, the values of my previous cars holding up coupled with my own increases in income and savings allowed me to trade up every time I traded in, where I'm now able to own, what for me, is the pinnacle, something I never dreamed I'd own, a GT3. So in recent years I've traded more often than is typical, but with a goal in mind. I hope to drive this one until I'm so old I have to pull the tattered buckets out and swap in some sofas.
Part of me wishes I could've kept them all. I'd love to be the guy that had a 1M, GT4 and GT3 in the same garage. But I had to use the first two as stepping stones to the next in line. Now that I've achieved my dream car, I can envision keeping if for a very long time. I've sworn to my wife this may or may not be my last car, but would definitely be my last "upgrade." In other words, I might trade down or sideways or decide I'd rather have a cheap dedicated track car and a classic air-cooled at some point. But I can't imagine going any higher up the Porsche food chain, and I can't imagine trading it for a newer GT3, especially if this is the last of the NA manual GT3s. I look forward to being a 70-something driving around in a 20 year old 991.2 GT3.
Part of me wishes I could've kept them all. I'd love to be the guy that had a 1M, GT4 and GT3 in the same garage. But I had to use the first two as stepping stones to the next in line. Now that I've achieved my dream car, I can envision keeping if for a very long time. I've sworn to my wife this may or may not be my last car, but would definitely be my last "upgrade." In other words, I might trade down or sideways or decide I'd rather have a cheap dedicated track car and a classic air-cooled at some point. But I can't imagine going any higher up the Porsche food chain, and I can't imagine trading it for a newer GT3, especially if this is the last of the NA manual GT3s. I look forward to being a 70-something driving around in a 20 year old 991.2 GT3.
02-07-2018, 07:09 PM
#20
1. Buy car
2. Mark it 0. I consider it worthless as soon as I get it. Buying a car for an investment is stupid.
3. Drive it hard and put it away wet
4. break it
5. fix
6. Repeat
2. Mark it 0. I consider it worthless as soon as I get it. Buying a car for an investment is stupid.
3. Drive it hard and put it away wet
4. break it
5. fix
6. Repeat
02-07-2018, 07:29 PM
#21
Instructor
Join Date: Aug 2010
Posts: 245
Likes: 0
Received 0 Likes
on
0 Posts
Interesting topic. I wish I didn't worry about the miles, I hate that and it does rob a considerable amount of joy for me, always has. I used to say I'm going to keep "XXXXX" forever, but somehow after 5 years or so I would itch for something then I was glad I didn't put a lot of miles on. With most of my cars I actually made money on them, but the downside is I think about every trip I take to an extent and ask myself if it was worth the mileage, #$%^#&*# I hate that I do that. Not sure how to break myself of it because even though I finally got my 911TT that I've always wanted, in the back of my mind I think, will I keep it forever? Then that question starts the cycle of questioning the mileage, it's a vicious cycle I tell you....vicious!
02-07-2018, 07:42 PM
#23
Interesting topic but glad to see that many/most people on here are driving their GT cars compared with the delivery mile cars you see on AutoTrader.
My incoming GT3 is the first very high-end car for me (I consider $150K+ very high end personally) and I went through the flaming hula hoops I had to with the intention that I will keep it, drive it, and enjoy it for a very long time God willing. Seems like a bit of an old school car with technology and cars headed towards "the future", so my "plan" is to have the GT3 and an electric car side by side (had the Leaf, then the i3, now the Model X, will get a Mission E). While the electric cars will change inevitably as technology advances, hope to keep my GT3 for a long time.
I also want to drive my car whenever & wherever I want, for this kind of money. If I could have an awesome collection of sports cars then I understand the weekend/track-only use cases but I am not quite there yet and have other expensive hobbies so I got sofas + PDK for my GT3 as I will drive it to work, out and about, on the canyons, on road trips, etc to rack up the miles.
As always plans can change and life is full of surprises but that's my plan
My incoming GT3 is the first very high-end car for me (I consider $150K+ very high end personally) and I went through the flaming hula hoops I had to with the intention that I will keep it, drive it, and enjoy it for a very long time God willing. Seems like a bit of an old school car with technology and cars headed towards "the future", so my "plan" is to have the GT3 and an electric car side by side (had the Leaf, then the i3, now the Model X, will get a Mission E). While the electric cars will change inevitably as technology advances, hope to keep my GT3 for a long time.
I also want to drive my car whenever & wherever I want, for this kind of money. If I could have an awesome collection of sports cars then I understand the weekend/track-only use cases but I am not quite there yet and have other expensive hobbies so I got sofas + PDK for my GT3 as I will drive it to work, out and about, on the canyons, on road trips, etc to rack up the miles.
As always plans can change and life is full of surprises but that's my plan
02-07-2018, 07:55 PM
#24
Rennlist Member
I usually keep my cars for 1-2 years
I enjoy trying as many cars as possible
for example I sold my .1 GT3RS to get a .2 GT3RS. I know people will say the .1 is 95 % of the .2 , and most drivers can't tell difference and I agree with that
but I am sure I'll love the .2 RS
I enjoy trying as many cars as possible
for example I sold my .1 GT3RS to get a .2 GT3RS. I know people will say the .1 is 95 % of the .2 , and most drivers can't tell difference and I agree with that
but I am sure I'll love the .2 RS
02-07-2018, 08:44 PM
#26
I too suffer from car ADD, but to me its not about keeping or selling, its both.
My philosophy is buy often, probably about 1-2 new a year, and punt on the cars that suck or aren’t what was promised quickly. I’ve learned over time the depreciation from driving off the lot is sunk, so if something isn’t fun, just get rid of it, no sense hanging on to eat more depreciation simply because you took a hit, move your depreciation dollars to something you like. That’s probably the biggest learning from my younger days when I’d feel guilty about trading too fast.
From there some are keepers, something really special (in my world 997.2 RS) others are placeholders, fun to drive but not special so enjoy till next step up comes (991.1 GT3 to 991.2 GT3). The funny thing as many of you guys know its actually better to turn faster in cars like this because if you hold too long it will cost more as the next best thing appears and folks move on.
The sports cars are easy for me, the hard ones are the daily drivers. Buy an M5 or a Pani and you lose your ***, so its way more fun to buy the special stuff!
My philosophy is buy often, probably about 1-2 new a year, and punt on the cars that suck or aren’t what was promised quickly. I’ve learned over time the depreciation from driving off the lot is sunk, so if something isn’t fun, just get rid of it, no sense hanging on to eat more depreciation simply because you took a hit, move your depreciation dollars to something you like. That’s probably the biggest learning from my younger days when I’d feel guilty about trading too fast.
From there some are keepers, something really special (in my world 997.2 RS) others are placeholders, fun to drive but not special so enjoy till next step up comes (991.1 GT3 to 991.2 GT3). The funny thing as many of you guys know its actually better to turn faster in cars like this because if you hold too long it will cost more as the next best thing appears and folks move on.
The sports cars are easy for me, the hard ones are the daily drivers. Buy an M5 or a Pani and you lose your ***, so its way more fun to buy the special stuff!
02-07-2018, 09:30 PM
#28
Rennlist Member
Kept my 1995 993 from 1999 - love the relative rawness and manual - drive every week - 64k miles from purchase at 7k
Unloaded my manual great looking 996 C4S due to IMS issue fear of costly repairs before IMS fix - was daily driver with 68k after 3 years.
Sold my SL65 V12 after 5 years due to high maintenance costs - drove it daily but after 14k in repairs plus 15k in warranty work sold it...needed another 12k in maintenance when sold....38k miles driven...
CPO 2014 V8 Cayenne GTS - great utility and the engine sound is just intoxicating...fast for a SUV and plush..driven 30k when purchased at 19k...in 2015....loaded ride...7k in interior options love it..
Plan to keep 991.3 GT3 with the PDK...anticipate it will be special enough as an update to my 993...
My approach - If it is a special car in my mind and reliable and still super fun to drive I keep it. Usually pay cash, hate interest on a car and if you buy the right car minimal depreciation especially a CPO Car..
Unloaded my manual great looking 996 C4S due to IMS issue fear of costly repairs before IMS fix - was daily driver with 68k after 3 years.
Sold my SL65 V12 after 5 years due to high maintenance costs - drove it daily but after 14k in repairs plus 15k in warranty work sold it...needed another 12k in maintenance when sold....38k miles driven...
CPO 2014 V8 Cayenne GTS - great utility and the engine sound is just intoxicating...fast for a SUV and plush..driven 30k when purchased at 19k...in 2015....loaded ride...7k in interior options love it..
Plan to keep 991.3 GT3 with the PDK...anticipate it will be special enough as an update to my 993...
My approach - If it is a special car in my mind and reliable and still super fun to drive I keep it. Usually pay cash, hate interest on a car and if you buy the right car minimal depreciation especially a CPO Car..
Last edited by abiazis; 02-08-2018 at 05:20 AM.
02-07-2018, 11:04 PM
#29
RL Community Team
Rennlist Member
Rennlist Member
I buy what I like.
I sell when the OEM warranty ends.
I sell when the OEM warranty ends.
02-07-2018, 11:55 PM
#30
Rennlist Member
You laugh, but there is a lot of truth to soulsea's statement - at least for me. The thrill of the hunt, buying and selling, having a new toy - all keep me ticking. Sometimes I can get similar excitement by modding them. But, even with my best laid plans, I inevitably trade or sell/buy every few months....