This sucks....I'm miserable..
#1
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This sucks....I'm miserable..
Just "bought" a 1999 C2 with 24,000 miles, 100k warranty, 18" rims (the 10 spoke Teknik I think), sports seats, HIFI and heated seats. Silver/black all leather. The car is no accident beatiful and near flawless...... I love it. But....... I think I might have to sell it (Ive had it 2 weeks, not even titled yet). Cant get financing.... well I can for 42 mos @ $950/mo, but I was told I would get 72 mos @ $596/mo. I dont want to pay/afford $950 a month.... I am really pissed.
My father paid for the car cash, with the understanding the financing would be set up as listed above. He thinks I should keep the car at $950/mo. I make $60k per year. What would you guys do?????? BTW insurance is another $275/mo. Also, I just got a raise which is the same amount per month as the extra cost of owning the C2 over what I am paying now for my current car payment/ins......
Finally, what is the "most" HP that can be gotten from a C2 with bolt on parts, no turbo?????
RVP
My father paid for the car cash, with the understanding the financing would be set up as listed above. He thinks I should keep the car at $950/mo. I make $60k per year. What would you guys do?????? BTW insurance is another $275/mo. Also, I just got a raise which is the same amount per month as the extra cost of owning the C2 over what I am paying now for my current car payment/ins......
Finally, what is the "most" HP that can be gotten from a C2 with bolt on parts, no turbo?????
RVP
#2
Burning Brakes
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this way you will be paying approx 15k per year only for insurance and credit payments...i.e 1/4 of your sallary....and to this maintainance is not included......which of course is not standard every year.....
at this point "we" cannot really help you, since it is something very personal thing.....do not really know, if 45 K a year are enough for you (with your familly of course) to live ....any children? wife working?.....
concerning Hp improovement....the max you can get is 340-345 Ps.....but you will have to spend a lot to achieve this....
996 with 300 ps IS a fast car....you won't need any more.....believe me.....
try first to finance your dream....then once done, try to modiffy it....if you like.....
at this point "we" cannot really help you, since it is something very personal thing.....do not really know, if 45 K a year are enough for you (with your familly of course) to live ....any children? wife working?.....
concerning Hp improovement....the max you can get is 340-345 Ps.....but you will have to spend a lot to achieve this....
996 with 300 ps IS a fast car....you won't need any more.....believe me.....
try first to finance your dream....then once done, try to modiffy it....if you like.....
#4
supercharging is the way to go for more power, coupled with headers, exhauast, intake, ECU, you can probably net 100hp? ~ ish.
the M96 isnt really meant to be tuned, it isnt exactly, erm, bulletproof.
the M96 isnt really meant to be tuned, it isnt exactly, erm, bulletproof.
#5
Rennlist Member
Originally Posted by rval_1999
Just "bought" a 1999 C2 with 24,000 miles, 100k warranty, 18" rims (the 10 spoke Teknik I think), sports seats, HIFI and heated seats. Silver/black all leather. The car is no accident beatiful and near flawless...... I love it. But....... I think I might have to sell it (Ive had it 2 weeks, not even titled yet). Cant get financing.... well I can for 42 mos @ $950/mo, but I was told I would get 72 mos @ $596/mo. I dont want to pay/afford $950 a month.... I am really pissed.
My father paid for the car cash, with the understanding the financing would be set up as listed above. He thinks I should keep the car at $950/mo. I make $60k per year. What would you guys do?????? BTW insurance is another $275/mo. Also, I just got a raise which is the same amount per month as the extra cost of owning the C2 over what I am paying now for my current car payment/ins......
Finally, what is the "most" HP that can be gotten from a C2 with bolt on parts, no turbo?????
RVP
My father paid for the car cash, with the understanding the financing would be set up as listed above. He thinks I should keep the car at $950/mo. I make $60k per year. What would you guys do?????? BTW insurance is another $275/mo. Also, I just got a raise which is the same amount per month as the extra cost of owning the C2 over what I am paying now for my current car payment/ins......
Finally, what is the "most" HP that can be gotten from a C2 with bolt on parts, no turbo?????
RVP
#6
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Well... not totally nuts... possibly just a bit.....
Actually, $950/month is pretty much the payment on my '99 C4... although my insurance here in Wisconsin is only running me about $110/month on this car.
Although I make a chunk more than $60k a year, I'm not rolling around in cash and most people (i'm sure my banker for starters) look at me and think, "What the f*ck is that guy doing, he should be driving a used Jetta".
That's what a normal person does.
We are not normal people.
Yes, I spend a lot of money on my car... but I'm also not at the mall every other day buying a $100 shirt or whatever... going on tons of vacations, etc. I bust my *** working and the 911 is my reward.
I have no idea of what your complete financial picture is - if you have a lot of other financial obligations then I agree, not a good move. But, you are basically looking at a difference of $350/month over what you initially planned - and you already have the car (you just need to get financing in place).
I think when buying a car it is not wise to rely on the "best case financing scenario" when factoring in monthly costs - because you probably won't get the exact financing you want. Personally, I'd never go over 60month financing on any car... with a 72month loan the car will be 12 years old when you make the final payment...... that kind of ooks me out.....
t
Actually, $950/month is pretty much the payment on my '99 C4... although my insurance here in Wisconsin is only running me about $110/month on this car.
Although I make a chunk more than $60k a year, I'm not rolling around in cash and most people (i'm sure my banker for starters) look at me and think, "What the f*ck is that guy doing, he should be driving a used Jetta".
That's what a normal person does.
We are not normal people.
Yes, I spend a lot of money on my car... but I'm also not at the mall every other day buying a $100 shirt or whatever... going on tons of vacations, etc. I bust my *** working and the 911 is my reward.
I have no idea of what your complete financial picture is - if you have a lot of other financial obligations then I agree, not a good move. But, you are basically looking at a difference of $350/month over what you initially planned - and you already have the car (you just need to get financing in place).
I think when buying a car it is not wise to rely on the "best case financing scenario" when factoring in monthly costs - because you probably won't get the exact financing you want. Personally, I'd never go over 60month financing on any car... with a 72month loan the car will be 12 years old when you make the final payment...... that kind of ooks me out.....
t
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#8
I think you should save money to invest. I don't know how old you are but if you are in your late 20s and early 30s and haven't invested in stocks and a house, do so before you are 40 w/ a 15+ yr old 911 that you fed most of your money into and has depreciated like a rock.
A car is a toy, a transportation... You should buy the car when you can afford it. Use your money to make more money -- invest. Don't depend on making it rich through your salary. I haven't heard of anyone rich through their salary. Plenty of people get rich because they invest well. Don't be poor w a 911. Be rich and then buy a 911.
A car is a toy, a transportation... You should buy the car when you can afford it. Use your money to make more money -- invest. Don't depend on making it rich through your salary. I haven't heard of anyone rich through their salary. Plenty of people get rich because they invest well. Don't be poor w a 911. Be rich and then buy a 911.
#10
When you say you make $60K a year, I assume that's your gross income. Your net income after FICA, Federal, State and Local Income taxes will be around $40K a year. That gives you approximately $3300 a month to live on. So unless you are living rent free with your parents, it's going to be a struggle, and if you are living with your parents I would make getting my own apartment a priority over owning a 996.
If it were me I'd postpone buying a Porsche for a couple of years and save up enough cash to at least signficantly reduce the amount I had to borrow. Also, I'd advise you to continue reading this Board and learn as much as you can about 911s. There are many knowledgeable posters who you can learn from.
If it were me I'd postpone buying a Porsche for a couple of years and save up enough cash to at least signficantly reduce the amount I had to borrow. Also, I'd advise you to continue reading this Board and learn as much as you can about 911s. There are many knowledgeable posters who you can learn from.
#11
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Hmm, seems like a pretty big stretch. I am surprised your old man bought the car for you before you have this all worked out.
I concur, that you should really put the money elsewhere first.
You mentioned you had a warranty out to 100k, is that a porsche warranty? I hate to tell you this, but its not just based on miles, its also based on the age of the car. I would guess you only have a year at most left on any porsche warranty. If so, you don't want to own a porsche out of warranty given your economic situation.
Also, that monthly rate would indicate you are paying a rather high interest rate. You might want to shop around for a lower rate.
Finally, don't mess with the car yet. At this point, a SC is not the right direction given you position.
I concur, that you should really put the money elsewhere first.
You mentioned you had a warranty out to 100k, is that a porsche warranty? I hate to tell you this, but its not just based on miles, its also based on the age of the car. I would guess you only have a year at most left on any porsche warranty. If so, you don't want to own a porsche out of warranty given your economic situation.
Also, that monthly rate would indicate you are paying a rather high interest rate. You might want to shop around for a lower rate.
Finally, don't mess with the car yet. At this point, a SC is not the right direction given you position.
#12
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You don't want to finance that car for 72 months. Try finding a leasing company who will lease it you for 3 or 4 years. Payments will be alot less and after 3 or 4 years if you still want it, you can buy it out for the FMV at that time.
#13
Originally Posted by rval_1999
Cant get financing.... well I can for 42 mos @ $950/mo, but I was told I would get 72 mos @ $596/mo. I dont want to pay/afford $950 a month.... I am really pissed.
My father paid for the car cash, with the understanding the financing would be set up as listed above. He thinks I should keep the car at $950/mo. I make $60k per year. What would you guys do?????? BTW insurance is another $275/mo. RVP
My father paid for the car cash, with the understanding the financing would be set up as listed above. He thinks I should keep the car at $950/mo. I make $60k per year. What would you guys do?????? BTW insurance is another $275/mo. RVP
what is the interest rate on the 42/48 month loan?
also is your Experian fico score above 660?
#15
Originally Posted by C4S Surgeon
You don't want to be working for your car, get one when you can afford it easily, it will come. just lease a boxster for now.