detansinn

Depreciation is again a thing. If you’re financing the car in this environment, most of those early payments are going to interest — that money is gone. Add in front door ADM or back door ADM (warranties, PPF, watches), the amount that you’re going to lose really adds up. As long as your definition of “get most of that money back” accepts tens of thousands of dollars lost, it’s fine, but don’t treat a new 911 purchase like an investment vehicle.

Yes, they hold their value well making them less expensive to own than let’s a… Maserati, but the pandemic years of driving it for “free” are gone.

lgusto

Come on now, there's no shortage of $200k houses in Palo Alto. The only problem is that you have to pay $2million for them.

Shogunade

He's out closing on the car.

Drstimpy2!

Don’t forget that the car is a tangible asset… It’s not like the money disappears.

Staffie Guy

He may have posted the same thing on the Ferrari forum and is going to weigh all responses before deciding whether to get a Porsche or a Ferrari.

Drew46

I guess we have different priorities. I don't buy toys until my responsibilities have been addressed. His net worth of $1MM is probably just enough to cover the cost of college for 2 kids. And we should ask about the nanny, housekeeper, etc. As many others have pointed out, his expense base is relevant.

McNamara

Say what?

notyetporschedad

Thanks for all the responses. Lots of valuable perspectives here. I'm leaning towards just getting the darn thing. Every year I want some new car and every year it gets more expensive. I've progressed from a Miata to a Mustang to a Corvette. Now it's a 911. Every year without fail I don't get the car. I figure if I don't get a 911 this year then next year I'll be begging my wife for a Huracan! The missus approves, admittedly a large extent due to that very reason. Now let's see if I can actually pull the trigger. The new questions is... Carrera or Carrera S?

txpackers

Carrera S with manual transmission.

detansinn

With your car history, I presume that you're looking for a manual transmission car. Given that, the base model would be out of the running. I suspect that when it comes to available allocations, you're looking at a T or a GTS. You're going to be totally f'd fighting for an allocation in the Bay Area, but I presume that you already know this. If you did not know this, well...



Regarding the Huracan... 2024 is expected to be the the final model year for the Huracan. So, if that's your actual want, that window is closing. Truth be told, with two young kids, it's hard to justify a two seater, let alone one that typically is out the door right around your expected 2024 annual income. I'd keep the Lambo as something to aspire to when you're beyond the "HENRY" stage of your life, (High Earner, Not Rich Yet).

ldamelio

Another S vote but you're increasing your price range. MSRP is $131,300. That's before taxes, fees, etc. for a stripper without ADM. Even a modest spec is likely to come out in the low 150's to 160's all in. Just a data point.

rwbern

Choose wisely - go for the S ! I would seriously consider a used 911. Lot of great cars for sale.

Drew46

Tuition (and room and board) at private colleges is easily 60-80K a year right now. Add in books, living expenses, travel to and from, etc. it is easy to get close to $100k/year X 4 years X 2 kids. And having my youngest just finishing grad school, I am speaking from first hand experience.

And, historically, the cost of college has increased year on year at rates well above the riskless rate of return. If someone is trying to fully fund a 529 today, $500K/kid is pretty much the target.

shrimp money

There’s no way I’m spending $500k on a kid to go to college.


Find a new college, 2+2 is the same in every state.

detansinn

This. We've already got one through and one ready to graduate. Both enter the real world with zero student debt, which is the best head start that you can give your own kid.
No debt for us either. A lot of parents get themselves into trouble borrowing for their kid's education, not recognizing that it's a much bigger lift in the 21st century than it was for their own parents.

School is expensive and many kids drop out not being able to pay the bill. My wife and I recently funded a scholarship endowment at my own alma mater to help students in their Junior/Senior year struggling to pay tuition. We're incredibly fortunate to be able to do something like that and you pay that kind of luck forward. Students need every bit of help that they can get. We're a long ways away from the time that you could pay your tuition bill with the money that you'd make with a summer job.