Feeling a little foolish and weird for spending $150k on a car
11-20-2017, 07:44 PM
#241
Instructor
11-20-2017, 08:03 PM
#242
11-20-2017, 11:35 PM
#243
I really don't know how to take these types of threads. I feel that most of the post are not completely honest and are a bit braggadocious. I feel very blessed and lucky to have a car like the 911 and I really don't care how anyone pays for their car. Gus I hope you get the car and can enjoy it as much as I do mine.
Cheers!
Cheers!
11-21-2017, 04:12 AM
#244
Nordschleife Master
Gus, sounds like you have been responsible all your life... you have no debt, no expenses, everything with you name on it has been paid off/for in full, you're at retirement age and with strong liquid net worth, on top of other paid off assets that also add further to your net worth. For someone like yourself who has got to where you are, it would be downright abnormal for you NOT to get the funny feeling re spending this kind of money on a car (or anything for that matter). It's the gut-feeling you've had all your life that's driven you to where you are to begin with.
You've more then earned the car, enjoy it and don't forget to post some nice photos.
LMFAO - wow!
You've more then earned the car, enjoy it and don't forget to post some nice photos.
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!
11-21-2017, 02:40 PM
#245
It's rare that after any purchase that I don't feel that I might've spent (or saved) the money in a more prudent way. Apparently I've been able to get passed it... time after time... after time.
Gus, your feelings are normal to me - but not that's much of an endorsement
Enjoy it in good health!
11-21-2017, 06:04 PM
#246
Rennlist Member
It is a lot of money to pay for a car and I can understand that uneasy feeling. I paid 125k for my 2018 4S after discount. Boxster trade got me 44k so out of pocket was about 80k. I could easily afford to pay for it with cash but I have never bought a 100k+ car so I had to wrap my head around that. Most performance sedans and SUVs can be purchased for about half the price which has been my typical purchase price for my other cars. My lightly optioned Boxster S was 70k. My wife doesn't think the 911 is worth twice the price of my Boxster but if I had optioned my Boxster similarly, the price difference is more like 30k.
Frankly, my 911 is a lot more user-friendly than my Boxster so I can justify the price (to myself).
Frankly, my 911 is a lot more user-friendly than my Boxster so I can justify the price (to myself).
11-21-2017, 08:27 PM
#247
Rennlist Member
The other thing that helps the perspective is that costs have gone up over time. A $150k car might seem foolish today, but it wasn’t that long ago that a high end automobile was around $80k. A lot of things have gone way up in cost these days: houses, boats, health insurance.
The hypercar market probably starts at $500k and the regular players are well into 7 figures.
The hypercar market probably starts at $500k and the regular players are well into 7 figures.
11-21-2017, 10:29 PM
#249
Rennlist Member
It is a lot of money to pay for a car and I can understand that uneasy feeling. I paid 125k for my 2018 4S after discount. Boxster trade got me 44k so out of pocket was about 80k. I could easily afford to pay for it with cash but I have never bought a 100k+ car so I had to wrap my head around that. Most performance sedans and SUVs can be purchased for about half the price which has been my typical purchase price for my other cars. My lightly optioned Boxster S was 70k. My wife doesn't think the 911 is worth twice the price of my Boxster but if I had optioned my Boxster similarly, the price difference is more like 30k.
Frankly, my 911 is a lot more user-friendly than my Boxster so I can justify the price (to myself).
Frankly, my 911 is a lot more user-friendly than my Boxster so I can justify the price (to myself).
11-22-2017, 05:51 PM
#251
11-22-2017, 06:21 PM
#252
Banned
It's because some of us can relate to his story in some way shape or form. In the end though. It's only money and if you were privilege or lucky enough to have it. Than it's a good thing to treat yourself. Balance is also a good thing. If you made it in life. It's also a good thing to give to those that don't have the same opportunity.
11-22-2017, 10:13 PM
#253
It's because some of us can relate to his story in some way shape or form. In the end though. It's only money and if you were privilege or lucky enough to have it. Than it's a good thing to treat yourself. Balance is also a good thing. If you made it in life. It's also a good thing to give to those that don't have the same opportunity.
11-23-2017, 03:26 AM
#254
Rennlist Member
It's your money, but I feel a used GTS would be much more in keeping with your style and comfort level with an expense like this. No need to spend $150K on a car, plenty of people who will take the drive off hit for you and keep it near showroom. I'd keep your car and buy what you want 2 years old. I love 911s but I can't see spending that on a car when you don't have to.
11-23-2017, 10:01 AM
#255
Burning Brakes
Thread Starter
"New vs. used" is really a tangent from my intent in starting the thread, which was to discuss trying to reconcile a lifetime's habit of being careful with my money vs. what was possible with my current finances. Part of me will always think the way I did when I was making $30k / year.
But to answer your comment, I looked at the used market because, naturally, I'd rather spend less. What I discovered was that there weren't any used 991s that matched what I wanted.
I wanted, specifically, was:
- Manual transmission
- AWD
- Cabriolet
- Metallic red or blue with a dark (probably black) leather interior
The most restrictive criteria were the MT and color choices, since there are a lot of PDK gray / black / white cars out there. That's what dealers tend to spec, since it's conservative. When I was talking trade-in value of my Amaranth Red C4S with Westwood Porsche, they lowballed me because they didn't feel they could resell that color.
I could find 2 out of 4 easily enough, but 3 out of 4 was difficult and cars with 4 out of 4 weren't for sale, even if I was looking at 2013's.
But to answer your comment, I looked at the used market because, naturally, I'd rather spend less. What I discovered was that there weren't any used 991s that matched what I wanted.
I wanted, specifically, was:
- Manual transmission
- AWD
- Cabriolet
- Metallic red or blue with a dark (probably black) leather interior
The most restrictive criteria were the MT and color choices, since there are a lot of PDK gray / black / white cars out there. That's what dealers tend to spec, since it's conservative. When I was talking trade-in value of my Amaranth Red C4S with Westwood Porsche, they lowballed me because they didn't feel they could resell that color.
I could find 2 out of 4 easily enough, but 3 out of 4 was difficult and cars with 4 out of 4 weren't for sale, even if I was looking at 2013's.