barncobob

time is short...73 and Im wondering where the heck did the years go..I'll be checking out in a Porsche I hope

CSK 911 C4S

In reading I thought this was an episode of House Hunters.

The wife is a crossing guard and I scrape gum off of benches at a local park....... our budget is 2.3 million.

B Russ

Huge LOL here

biggreek

Tomorrow is one year of having my 911. I had that same silly feeling and it all goes away the second I start the car.


Leaving my personal finances out of it, naturally. But, in my age group (<30) and in my personal situation, it's uncommon to go and buy a fairly new .2 4GTS (and my first Porsche at that). But, I lined everything up for me to buy this *fairly* comfortably. Yes, this purchase is the biggest purchase I've made, so far, in my life. But, I did it with no regrets. Will things change down the road? Who knows, nobody knows. But, I'm super proud of myself for doing it and doing it on my own. Big decisions freak me out.

I put over 20% down on the car, got a really good rate, and my payment is manageable. If I need to dump the car I won't be out. Ill NEVER finance a car without GAP insurance, so I added that. No matter how much is put down, because you never ever know. Also, it's a CPO, I wanted the extra comfort for this purchase.

If you're a logical person, think of the possibilities, cover all avenues, take a good look, think it through, and ask questions. BY NO MEANS, AM I FINANCIAL OR LIFE ADVISOR haha

18 months prior to buying this, I was the stroke of a pen away from getting a .1 4GTS, at almost the same price (before COVID prices set in). I sat down with myself, went through all the numbers and figured it was too close to cut and not the time to buy. Factors included, the DP, insurance, space to park the car, etc...

So, after its all said and done, you think it's right, jump on it. As potential buyer, wait for (or build) the car YOU like. If one slips thru the cracks, a better one will be waiting down the road.

good2go

I hate people that make this argument, any risk to your 20% return? How many times have you taken a loan against your so called savings? Why do you think smart financial people will loan you money at that rate? Do you max out you mortgage? Do you max out your margin account​​​​​​? You can make more money in your ETF, you should leverage every dollar you can. How much money do you have in bonds? Should you move all that into aggressive growth?

I recommend never taking financial advice from a car forum.

good2go

Being able to buy a $150k car is a lot different then being able to affording a $150k car.

space man

Your comments we also help differentiate people who are rich and the wealthy

barncobob

im old school, no cash, no buy....I am "cashed out" on my 17

desking101

It's important to have your capital spread out and not be too illiquid. I'm usually comfortable financing 40-60% since I feel that's a good balance between keeping some cash for working capital and taking advantage of low interest rates. If you have to or want to dump the car you can easily do it, while leaving enough cash left over for something else. Don't be overleveraged but don't completely ignore the advantage of low interest rates either. Plus you can't discount the advantage of not being in debt up to your eyeballs just from a psychological standpoint. Some people only think about how much interest they can earn on their money vs. what they pay for it, instead of also thinking about the various functions of that actual money in terms of how you could, would, or should use it depending on your personal circumstances

Graufuchs

Toys are Financed.
Necessities are paid for in Cash.
No mortgage and no balances on Credit cards.

My financial two-cents.

Work hard, Enjoy life and don't spend your life chasing a fiscal number.

Retired at 41 and Happy.

Porsche_nuts

Some people consider a Porsche a necessity.

koala

Literally made me LOL, thank you for the laugh. I needed it!

koala

I can't wait for my kids to grow up and move out, then, I can get a winter beater 911 to go with my summer one.

Mike Murphy

Interesting. I guess that makes sense. Most people don’t pay cash for their house, yet housing is a necessity, so you make a good point.

I wonder how many people that say ‘never finance a Porsche’ have a mortgage.

Levy

i feel foolish for waiting until i was almost 60 to buy my first 911. could have easily swung it 15 or 20 years ago but didn't. having been in finance for most of my life (personal and corporate), spending big money wasn't in my DNA. save and invest was all i thought about. looking back, i regret not living/enjoying my money a little more. luckily i made it happen eventually. just wish i had done it sooner.

i would 2nd the comment above that says avoid financial advise from anyone who doesn't know the details of your specific position and circumstances (like a car forum lol). one of the biggest problems i encountered when i was a personal financial advisor was dealing with advise given to clients from people who didn't have a clue about the clients circumstances, goals ect... . often dreading conversations that started with "i read i should be doing/buying/selling X"

the devil is always in the details. ignore them at your own peril (AND buy a 911 as soon as you're comfortable doing so =) )