Feeling a little foolish and weird for spending $150k on a car
08-31-2017 | 10:00 PM
#211
Instructor
Joined: Jun 2015
Posts: 191
Likes: 25
From: Los Angeles
This thread is awesome. Love it, profoundly. Basically, there are four stages of economic condition. The first is where the vast majority of humans live--where the notion of buying a new 911 is so unthinkable it's not even a fantasy. The second is where it is a fantasy. The third is, for a very rare few, where it is a possibility, but where the financial impact is real. This would probably be your average one percenter for whom buying a new 911 is a reality, but feels "weird" like for the OP because it's ultimately a financially meaningful decision that is being made for pleasure over prudence. The last category is the true baller (or for some, the lucky sperm club), where you can buy a 911 and not even give a **** about the chump change you're spending on it.
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maschinetheist (10-18-2020)
09-01-2017 | 12:53 PM
#212
Track Day
Joined: Jan 2017
Posts: 23
Likes: 2
Gus, as someone who spent 25 years as a money manager, including the last ten managing assets for high-net-worth clients, I'd be inclined to say that you can afford this purchase better than probably 90% of Porsche buyers.
You would be shocked at the number of folks with 8 and even 9-figure portfolios whose spending was rapidly eating into their net worth. Our investment advisors would pull me in to meetings as a last resort, not to talk about the client's portfolio, but rather to explain the real world in terms of likely returns, risk of market pullbacks, etc.
Bottom line is some folks are genetically programmed to live on the edge, i.e. will spend 105% of their income no matter what it is. You have been spared that mutation. That's why you are feeling a tad guilty and started this thread. You should feel great about your financial situation and fiscal discipline. Buy that sucker!
You would be shocked at the number of folks with 8 and even 9-figure portfolios whose spending was rapidly eating into their net worth. Our investment advisors would pull me in to meetings as a last resort, not to talk about the client's portfolio, but rather to explain the real world in terms of likely returns, risk of market pullbacks, etc.
Bottom line is some folks are genetically programmed to live on the edge, i.e. will spend 105% of their income no matter what it is. You have been spared that mutation. That's why you are feeling a tad guilty and started this thread. You should feel great about your financial situation and fiscal discipline. Buy that sucker!
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Als992 (01-03-2022)
09-03-2017 | 08:09 PM
#213
Pro
Joined: Sep 2014
Posts: 696
Likes: 122
From: North NJ
Depending on your finances, this topic may mean nothing to you. Conversely, I imagine that if I posted it just about anywhere else, I'd get figurative rocks thrown at me for wasting money.
Yesterday I signed up for a sapphire blue manual GTS 4 cabriolet, which should theoretically get delivered around December. The dealer doesn't actually have the allocation yet, he's waiting on an allocation reimbursement for having sold a GTS 4 cab with European Delivery this month.
The total cost of the new car, less discount but including taxes and fees, is $155k. 4% discount, but 6.25% sales tax. Net cost to me is $80k after trading in my 2014 C4S cab.
I can afford this. Total income for the last 12 months was $210k, spending was $62k except for this silliness on my part.
I do feel like I'm being ridiculous, though, spending this much on a car. I got where I am today by being careful with my money. When I was working, we lived on my wife's salary and saved all of mine. We had a few big-ticket expenses along the way, but not like this.
I am, technically, still Living Within My Means. I can do this because my means are rather more than they were 10 years ago. My spending reflexes are still geared toward a lower income, so it feels vaguely wrong.
Anyone sympathize with this? Please keep any rotten tomatoes unthrown, I'm aware this is First World Problem.
Oh, and I'm without my C4S for 3-4 months
, because the dealer offered me $5k more if he could have the car now rather than in December, and I couldn't pass that up.
Yesterday I signed up for a sapphire blue manual GTS 4 cabriolet, which should theoretically get delivered around December. The dealer doesn't actually have the allocation yet, he's waiting on an allocation reimbursement for having sold a GTS 4 cab with European Delivery this month.
The total cost of the new car, less discount but including taxes and fees, is $155k. 4% discount, but 6.25% sales tax. Net cost to me is $80k after trading in my 2014 C4S cab.
I can afford this. Total income for the last 12 months was $210k, spending was $62k except for this silliness on my part.
I do feel like I'm being ridiculous, though, spending this much on a car. I got where I am today by being careful with my money. When I was working, we lived on my wife's salary and saved all of mine. We had a few big-ticket expenses along the way, but not like this.
I am, technically, still Living Within My Means. I can do this because my means are rather more than they were 10 years ago. My spending reflexes are still geared toward a lower income, so it feels vaguely wrong.
Anyone sympathize with this? Please keep any rotten tomatoes unthrown, I'm aware this is First World Problem.
Oh, and I'm without my C4S for 3-4 months
, because the dealer offered me $5k more if he could have the car now rather than in December, and I couldn't pass that up.
11-02-2017 | 10:07 AM
#215
Intermediate
Joined: May 2017
Posts: 29
Likes: 0
Good for you. You've come back every other page to post something to this effect. Me thinks the troll is posting from inside the house!
First no war intended at all with this post.
I am a little surprised by the amount of doubt and perceived guilt I am reading about on this forum. I have owned a dozen Pcars and have met many owners and I sure didn't read any of this doubt I am seeing here. Most were real enthusiasts, confident, successful men and women even if slightly older like myself.
I have worked like a dog most of my life coming from immigrant Italian parents who worked much harder than I do for very small amounts of money. I really learned the value of money and hard work. I'm still trying to be as good as my dad was as a father and man.
I paid for my kids education so they could start real life without that burden, saved money for retirement and treated my wife like the treasure she is and helped less fortunate whenever I could.
When it came time to buy my first or last Porsche I didn't have doubt or guilt as I would not have even gone to the dealer if I was going to have internal or social norm struggles. I also did not ask strangers if they thought I should when I knew most would say sure, jump off that building I'm sure you will be fine. If I thought I could or could not afford it that was all I needed I wasn't looking for anyone else to give me an excuse for my decision.
Again I stress that I am not slamming anyone's process but I am just a bit surprised by the amount of doubt.
I am a little surprised by the amount of doubt and perceived guilt I am reading about on this forum. I have owned a dozen Pcars and have met many owners and I sure didn't read any of this doubt I am seeing here. Most were real enthusiasts, confident, successful men and women even if slightly older like myself.
I have worked like a dog most of my life coming from immigrant Italian parents who worked much harder than I do for very small amounts of money. I really learned the value of money and hard work. I'm still trying to be as good as my dad was as a father and man.
I paid for my kids education so they could start real life without that burden, saved money for retirement and treated my wife like the treasure she is and helped less fortunate whenever I could.
When it came time to buy my first or last Porsche I didn't have doubt or guilt as I would not have even gone to the dealer if I was going to have internal or social norm struggles. I also did not ask strangers if they thought I should when I knew most would say sure, jump off that building I'm sure you will be fine. If I thought I could or could not afford it that was all I needed I wasn't looking for anyone else to give me an excuse for my decision.
Again I stress that I am not slamming anyone's process but I am just a bit surprised by the amount of doubt.
11-02-2017 | 10:52 AM
#216
Burning Brakes
Joined: Oct 2017
Posts: 822
Likes: 9
I'm feeling better now about getting my first Porsche. I can afford it, but have been hesitant about spending $35,000 to $45,000 for used 911, Cayman or Boxster. Reading the post and a lot of the responses, I will probably pull the trigger on a 2013 Boxster that has been on my mind lately. Thanks to all who contributed. RJ
P.S. Just buy it and enjoy it.
Update: Bought a 911 and glad I did.
P.S. Just buy it and enjoy it.
Update: Bought a 911 and glad I did.
Last edited by SoCal RJ; 12-12-2017 at 09:24 PM.
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Straight Shooter (12-18-2019)
11-02-2017 | 02:14 PM
#218
Rennlist Member
Joined: Dec 2013
Posts: 1,669
Likes: 305
From: Connecticut
11-02-2017 | 03:07 PM
#219
Race Car
Joined: Feb 2014
Posts: 3,611
Likes: 1,301
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maschinetheist (10-18-2020)
11-02-2017 | 06:14 PM
#220
Banned
Joined: Jan 2016
Posts: 4,389
Likes: 42
From: Where aspirations are natural
11-02-2017 | 10:12 PM
#221
Drifting
Joined: May 2015
Posts: 3,096
Likes: 44
That’s why I just lease, it’s much cheaper than renting or buying. The only risk is the occaisional interrim period while you wait for a new one if they get upset with you not buying and won’t extend the lease.
11-02-2017 | 10:41 PM
#222
Pro
Joined: May 2013
Posts: 740
Likes: 23
From: Somewhere in Space....the final frontier
Awesome
11-03-2017 | 02:28 AM
#223
Instructor
Joined: Oct 2014
Posts: 165
Likes: 12
From: Bay Area, CA
My NA GTS is worth it weight in GOLD...
I'm just glad Porsche doesn't realize it because I'd pay $500,000.00 for it every day of the week...
So, yes we are all wierd...and I do Bleed Burgundy and Gold...
I'm just glad Porsche doesn't realize it because I'd pay $500,000.00 for it every day of the week...
So, yes we are all wierd...and I do Bleed Burgundy and Gold...
11-03-2017 | 07:13 AM
#224
Race Car
Joined: Feb 2014
Posts: 3,611
Likes: 1,301
I agree but the "occasional interim period" you speak of occurred monthly with mine...
11-03-2017 | 08:02 AM
#225
Racer
Joined: May 2017
Posts: 381
Likes: 6
From: Phoenix, Arizona
The same GTS that smells moldy inside, and can't be driven because it doesn't pass emissions?