How much of your wealth in cars?
04-26-2006, 10:27 PM
#46
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Great animation, TD.
04-26-2006, 11:53 PM
#47
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Another consideration is....I have a 993TT...I bought it 3 years ago with 20k miles for 70k......I could probably sell it for close to that ....granted I put 6k into PSS9's, Evo uprights, GT2 sway bars...but never the less...best depreciation of any car I've ever owned..plus the best car hands down...pretty good deal by any measure....and I've never considered my Porsche as part of my "wealth"....unless your a Porsche dealer you aint making money with your Porsche
04-27-2006, 08:08 AM
#50
Here's a scientific way to look at what it takes to own a new Porsche in Toronto. A local Dealer was advertising a lease on a new 997 at $30K down, plus $1745 per month. You have to consider that putting the $30K in as a down-payment on the lease is worth about $600 per month, so if you could lease one with absolutely no down-payment it would cost you about $2400 per month, which is almost $29,000 per year. The consensus here is that you should not spend more than 10% of your income on a car (probably about right since you shouldn't spend more than 30% of your gross on a mortgage payment). That means in Toronto you should be making $300K per year before you think about walking into a Dealer and asking about a new 911. That's probably about right. BTW, wealth and income are two completely different things. If you've got money sittin' around over and above what you need for retirement you should blow it on whatever you want.
04-27-2006, 04:19 PM
#52
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I'm curious as to how much you guys would spend as % of your car's market value. I'm about to make the decision to either add aero front bumper, and a bunch of other oem mods, or just wait to buy a tt or 997 next year.
04-27-2006, 10:49 PM
#53
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Originally Posted by riad
So people that have said they spend no more than 5% of their income on cars make about $2,000,000 a year for $100,000 car? I'm very poor compared to you guys.
04-27-2006, 11:04 PM
#54
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Originally Posted by rayng
I'm curious as to how much you guys would spend as % of your car's market value. I'm about to make the decision to either add aero front bumper, and a bunch of other oem mods, or just wait to buy a tt or 997 next year.
Thats a whole another can of worms, I see modding like the purchase of the Car. No matter what every year the car is worth less and less, I say MOD the hell out of it, until you get bored and redo all the MODS. Mods like the car is an investment in our happiness. These cars will never be Worth what we paid, but hey I say there is value in enjoying it. This also goes to the garage queens, I refuse to keep my car perfect for the next owner. I don't plan on getting old and Grey with my Porsche's.I drive it like i stole it...everyday..
04-28-2006, 08:45 PM
#55
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Originally Posted by rayng
I'm curious as to how much you guys would spend as % of your car's market value. I'm about to make the decision to either add aero front bumper, and a bunch of other oem mods, or just wait to buy a tt or 997 next year.
I wait until my next car and get it with from the factory.
04-28-2006, 10:28 PM
#56
Race Car
How did this thread get turned into "how much of your income you spend on cars" when the orginal question was "how much of your wealth"? Income is not wealth, but can lead you to it.
05-17-2006, 02:54 PM
#58
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Suggested budget:
10% food
20% house
30% cars
40% mods for cars
20% painkillers
Total: 120% (yeah, the painkillers really screw with the math, but helps when the bills arrive)
10% food
20% house
30% cars
40% mods for cars
20% painkillers
Total: 120% (yeah, the painkillers really screw with the math, but helps when the bills arrive)
05-17-2006, 03:17 PM
#59
Drifting
Originally Posted by mostserene1
Suggested budget:
10% food
20% house
30% cars
40% mods for cars
20% painkillers
Total: 120% (yeah, the painkillers really screw with the math, but helps when the bills arrive)
10% food
20% house
30% cars
40% mods for cars
20% painkillers
Total: 120% (yeah, the painkillers really screw with the math, but helps when the bills arrive)
09-25-2006, 02:57 PM
#60
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Originally Posted by care4era
How much of your wealth are you preapred to put in cars? For me I would say 10-20% and no more. I knew a girl once who worked 4 jobs to pay her car payments. I was thinking you are f'ing nuts!