911 Diminished value due to high miles
#16
Rennlist Member
Thread Starter
That analogy with the GF is funny. But you can also see it as, if you had a super hot GF, with an every day every time you'll start getting used to it and it wouldn't excite you as much, right?
My 911 GTS is no garage queen, i drive it and enjoy it. But using it every day, for 2-3 hour every time, kind of makes me wonder...
My 911 GTS is no garage queen, i drive it and enjoy it. But using it every day, for 2-3 hour every time, kind of makes me wonder...
#17
Rennlist Member
That analogy with the GF is funny. But you can also see it as, if you had a super hot GF, with an every day every time you'll start getting used to it and it wouldn't excite you as much, right?
My 911 GTS is no garage queen, i drive it and enjoy it. But using it every day, for 2-3 hour every time, kind of makes me wonder...
My 911 GTS is no garage queen, i drive it and enjoy it. But using it every day, for 2-3 hour every time, kind of makes me wonder...
1.) Delayed gratification. It is real, it works. Waiting to drive your 911 for the perfect day can resul in much greater pleasure.
2.) Getting tired of the routine. For some reason, this doesn’t happen to me with my 911. Every time I take the routine from startup to shutdown and everything in between was like the first day of ownership.
Eceryone is different, but there are some things I don’t get tired of. Maybe it’s because I like the process sometimes just as much as the destination.
#18
Rennlist Member
There are concepts that come to mind:
1.) Delayed gratification. It is real, it works. Waiting to drive your 911 for the perfect day can resul in much greater pleasure.
2.) Getting tired of the routine. For some reason, this doesn’t happen to me with my 911. Every time I take the routine from startup to shutdown and everything in between was like the first day of ownership.
Eceryone is different, but there are some things I don’t get tired of. Maybe it’s because I like the process sometimes just as much as the destination.
I used to drive my C4S to work and back every single day. It made the experience of going to work (not being at work) a pleasure every day. I moved to a new home last summer that cut down my commute time. Now I barely get up to operating temperature by the end of the trip. That's no fun, and also a terrible way to treat the 911, so I bought a VW for my daily commute and now I only drive the 911 on longer trips. If I had my old longer commute back, and I had both cars to choose from, I'd choose the 911 every single time. I miss it every day I don't drive it. I didn't buy it to save money; it's not collectible - it's going to lose value each year if it has 1k or 10k miles tacked on. Just drive it - it never gets old.
#19
Im averaging 1k miles a month, this used to make me sweat when car was brand new. 13k miles later, it doesnt bug me anymore. I'm enjoying the car even more now as a matter of fact. Just yesterday sitting at a traffic light during a non important ride I felt great. Almost a high.
Drive the car! Its not a collectable or a rare supercar. Why let the guy after you get a sweet low mileage deal on your time and expense?
Even though I purchased new I was cross shopping CPO/used. I was loving ALL the low mileage cars that the previous owner took a hit on.
Take one good look around.. 90%+ of the US population would kill to have what you have. Remember that when you're on your commute and you see all the 4 cyl econobox and Nissan Rogue crossovers. They drive them because they have to.. You drive your 911 because you can... I sure as hell remember being on the other side (without envy).
PS: The 991 gets great MPG.
Drive the car! Its not a collectable or a rare supercar. Why let the guy after you get a sweet low mileage deal on your time and expense?
Even though I purchased new I was cross shopping CPO/used. I was loving ALL the low mileage cars that the previous owner took a hit on.
Take one good look around.. 90%+ of the US population would kill to have what you have. Remember that when you're on your commute and you see all the 4 cyl econobox and Nissan Rogue crossovers. They drive them because they have to.. You drive your 911 because you can... I sure as hell remember being on the other side (without envy).
PS: The 991 gets great MPG.
#20
No offense, but to me this is like saying "I have a super hot girlfriend and I have the opportunity to sleep with her a lot, should I do that or should I look for another woman to be with during the week and only be with my hot girl on weekends and special occasions".
#21
I have a situation that I’m trying to figure out.
Bought a new 2018 991.2 GTS last Mar. had it for almost a year now and I’m st 5K miles.
I took in this new position at work that requires me to drive about 500 miles a week, so 20k miles a year work related, before weekend fun.
So I figured I’m at about 25K a year.
I get 1$ per mile as an expense so I would get about $20K net a year.
should I keep driving my dream car every day and put the excessive mileage on it, knowing that the extra $ I loose on it I’ll get from the reimbursement at work? Or do I get an ok C300 and use that as my high mileage commuter and use my 911 for spacial events and weekends.
Now my question is,
Can anyone guesstimate what the $ hit would be for that extra excessive mileage after 2 years?
would the reimbursement I would get cover the diminished value?
Thanks,
Bought a new 2018 991.2 GTS last Mar. had it for almost a year now and I’m st 5K miles.
I took in this new position at work that requires me to drive about 500 miles a week, so 20k miles a year work related, before weekend fun.
So I figured I’m at about 25K a year.
I get 1$ per mile as an expense so I would get about $20K net a year.
should I keep driving my dream car every day and put the excessive mileage on it, knowing that the extra $ I loose on it I’ll get from the reimbursement at work? Or do I get an ok C300 and use that as my high mileage commuter and use my 911 for spacial events and weekends.
Now my question is,
Can anyone guesstimate what the $ hit would be for that extra excessive mileage after 2 years?
would the reimbursement I would get cover the diminished value?
Thanks,
#22
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#23
Rennlist Member
Not sure if this is correct - I get mileage as well (less than SBA though) and it is a direct deposit into my bank account and not reported on my W-2, so I think it depends on how the employer handles it.
#24
Get a Ford Fiesta ST for commuting.
#26
Typo fixed, tnx for the correction.
Totally get you all. Love the car, drive it every time a get a chance and enjoy every second of it.
I got this one manual, knowing that hybrid/electric/automatic 911's will be the future and the thought behind it was to make this one a keeper.
Still everyone i talk to says, i must be crazy to use it for a 20-25K a year commuter.
Totally get you all. Love the car, drive it every time a get a chance and enjoy every second of it.
I got this one manual, knowing that hybrid/electric/automatic 911's will be the future and the thought behind it was to make this one a keeper.
Still everyone i talk to says, i must be crazy to use it for a 20-25K a year commuter.
I think some people forget that these are regular cars. They are mass produced with parts from the same suppliers as everyone else. Honestly nothing that special. This is a no limited run handmade exotic that you 'make an Sunday event out of' ...like a older quirky Ferrari is impractical in every way and might catch on fire unless it gets its garage time. People not familiar with Porsche cars (or lust after them) probably think its kinda like a Ferrari.
Maybe I'm unique, but my 2017 C4S isn't a car that I find appealing to 'joy ride' on weekends. Its not THAT exciting and I see it more as a tool/car rather than a toy. The point for me is I like driving it more than anything else rather than 'let me go have a good ol' time.' Its comforting for me to think I'll be driving a Porsche to work or the grocery store rather than an slow floaty loose ecobox. 911's are comfortable, practical, and understated. Completely usable every day. Its not a hardcore sports car that wears you down...if anyone thinks so, they would try some other cars for comparison. Like it or not, its definitely a 'luxury' sports car and most people will rather sit inside a 911 while cruising down highway rather an a camry. Granted you need to use the right tool for right job...you wont find me trying to use a 911 to haul a sofa, family, go off road, or park in a sketchy city alley...that's what a truck or SUV is for.
A car is a depreciating asset no matter what you do with it. Trying to make it depreciate less by not using is so pointless in mind. Its unavoidable. I personally would never enjoy a car if I kept stressing over 'let me keep the miles low' or die inside over every tiny imperfection or rock chip. Granted I used to do this, the moment you stop focusing on this stuff is when you truly start enjoying the car.
Car value is meaninglessly if you intend to keep the car. It only matters if you're looking to sell and its in the buyer's (not seller's) favor. Knowing that it was going to depreciation and attempting to stop it by keeping the miles low is like saying "I bought it, but can't really afford it so I'll compensate by using it less." It still loses 10-20k in depreciation per year and after 5 years its probably somewhere 50% of its value new. With less miles, its 55%...still lost 45%. In the short term, higher miles are more costly, but after time its not as important. Miles aren't the death of cars...its time and poor maintenance or design. Keeping miles low is "saving it for the next guy."
If you're not committed enough to keep it at least 5 years, worried a lot about depreciation or racking up miles, I think you're probably best off not buying a new car or buying something that you can afford. People who can't afford it or have different priorities view it differently "its so precious I wouldn't drive it I were you." Fact is they probably never owned an expensive luxury sports car and would think differently if they did.
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KINGHURL (03-05-2023)
#27
This is my perspective: use the correct tool for the job. In my opinion, save the GTS for fun driving and get something like a Mazda6 for long commuting. I use to have a dual purpose DD/track car. Then I started thinking about how much wear and tear I was putting on my clutch, super sticky/low longevity tires, and expensive track suspension just to sit in stop and go traffic and commuting on the crappy 405 highway. So then I bought a hybrid for the DD. Good gas mileage and low-rolling resistance/long wear tires for long commutes, very low consumable costs. I also care nothing about rock chips, door dings, pot holes, etc. Now when I take out the fun car, I beat the absolute crap out of it and use it for what it's made for which is going fast on fun roads/tracks.
You could buy a Mazda6/Accord/Camry and what you save in gas and consumables, you'd MAKE money with $1/mile expense. Look at this scenario, you could buy a used 2016 Mazda6 for $15k. It gets 37mpg hwy and uses regular gas. In LA, that saves you 30 cents a gallon. 500 miles a week at 37mpg is 13.5 gallons. Looking at just a week, you'll get $500 in mileage. Minus the $43.2 in gas, let's just call it $50, leaves you $450 a week. Insurance, being conservative/high, is $25 a week leaving you $425 a week. 4.6 working weeks a month, $1955 dollars in your pocket. You could pay of the Mazda in 8 months and of course have the retained value. And then you're just pocketing almost $2k a month which can be used for track days, vacations, leasing another two Porsches, whatever. Hell, $2k a month just to drive to work. That's more than what Uber drivers make and driving is their job.
You could buy a Mazda6/Accord/Camry and what you save in gas and consumables, you'd MAKE money with $1/mile expense. Look at this scenario, you could buy a used 2016 Mazda6 for $15k. It gets 37mpg hwy and uses regular gas. In LA, that saves you 30 cents a gallon. 500 miles a week at 37mpg is 13.5 gallons. Looking at just a week, you'll get $500 in mileage. Minus the $43.2 in gas, let's just call it $50, leaves you $450 a week. Insurance, being conservative/high, is $25 a week leaving you $425 a week. 4.6 working weeks a month, $1955 dollars in your pocket. You could pay of the Mazda in 8 months and of course have the retained value. And then you're just pocketing almost $2k a month which can be used for track days, vacations, leasing another two Porsches, whatever. Hell, $2k a month just to drive to work. That's more than what Uber drivers make and driving is their job.
#29
Rennlist Member
I have a situation that I’m trying to figure out.
Bought a new 2018 991.2 GTS last Mar. had it for almost a year now and I’m st 5K miles.
I took in this new position at work that requires me to drive about 500 miles a week, so 20k miles a year work related, before weekend fun.
So I figured I’m at about 25K a year.
I get 1$ per mile as an expense so I would get about $20K net a year.
should I keep driving my dream car every day and put the excessive mileage on it, knowing that the extra $ I loose on it I’ll get from the reimbursement at work? Or do I get an ok C300 and use that as my high mileage commuter and use my 911 for spacial events and weekends.
Now my question is,
Can anyone guesstimate what the $ hit would be for that extra excessive mileage after 2 years?
would the reimbursement I would get cover the diminished value?
Thanks,
Bought a new 2018 991.2 GTS last Mar. had it for almost a year now and I’m st 5K miles.
I took in this new position at work that requires me to drive about 500 miles a week, so 20k miles a year work related, before weekend fun.
So I figured I’m at about 25K a year.
I get 1$ per mile as an expense so I would get about $20K net a year.
should I keep driving my dream car every day and put the excessive mileage on it, knowing that the extra $ I loose on it I’ll get from the reimbursement at work? Or do I get an ok C300 and use that as my high mileage commuter and use my 911 for spacial events and weekends.
Now my question is,
Can anyone guesstimate what the $ hit would be for that extra excessive mileage after 2 years?
would the reimbursement I would get cover the diminished value?
Thanks,
#30
Rennlist Member
This boils down to whether or not you can afford the depriciation on your car.
If you’re going to have anxiety about the depreciation then: 1. figure out your source of anxiety and resolve it; or : 2. Park it.
If you’re going to have anxiety about the depreciation then: 1. figure out your source of anxiety and resolve it; or : 2. Park it.