h-bo

i think that Over the next couple of years you will be able to buy property for much cheaper than you can today, you will be able to buy companies (shares) for a fraction of what you are paying today. Second hand cars, expensive ones, will definitely get cheaper. Your job may not be there for ever either.... enjoy what you have and wait a little. Nobody should be in a rush to spend cash at the moment, too much uncertainty. If in 6 months time, what I have just written looks like complete BS, then buy the best 996 and go nuts. You will still have your cash then and you will have had more time to get excited about it. no downside.... you were right... I was wrong.. you still get your 996.

dallasboats

SO TRUE!

dallasboats

HE HE, wise too,
my best advice, pay yourself first, think of yourself first, if you want it, get it, because you will never be satified, even after getting it. I'm lazy and this still seems to work for me.......

IF YOU'RE NOT FIRST, YOU'RE LAST, love this quote. Also, I WANNA GO FAST. Brilliant!

pl

a lot of good advice have been given.
however, have you started work yet? do you consider use the 996 as your only car and drive it to work?
read the "drive my p-car to office" thread. you will be amused how people react to a low-20K used car.

WCE

Basically the same dilemma for me, only years ago and my "dream" car was the 928. I was nearly broke, "temporarily" living at home, and STILL bought a 5 year old model with 40k miles for half the original price of which I financed half of that (about $10k).
Obviously CRAZY, but I loved that POS and it did improve my social life (although it definitely inferred a much higher cash flow than I had at the time).
Looking back, I did spend WAY too much on maintenance, drove it WAY too many miles (over 200k) and added WAY too many points to my license(s).
Would I recommend this choice to others? NO
Would I do it again myself? maybe...

Barn996

I'm an 'older' guy with a twist(I don't feel my age) and my advice would be to follow your desire for a Porsche...pull the trigger on the car that impresses you and do your research before you buy.Otherwise you'll be following the sage advice of people twice your age who have little in common with you. You're young enough to rebound financially if you make a mistake concerning a car purchase. Enjoy today, you'll have plenty of time to figure out the future.GL

insite

without reading every post, here's my take. i bought my first P-Car at 27. i loved it and would do it again in a heartbeat. that having been said, it was my primary driver and wound up costing MUCH more than i'd planned to keep it nice.

the 996 is a great car, and MOST are highly reliable. the question you need to ask is this: if i buy this car and the motor pops after six months, can I pay the $14,000 to put a new motor in the car? if that answer is no, then you need to wait.

EDIT: IF you can get a warranty that will cover a blown motor, i'd go for it.

redridge

What do you call a 22 year old, male, driving a sports car, (especially a gaurds red, Porsche), with points and living in NJ??????...........












POOR!!!

I would check how much insurance would cost first.

Bossman

Like some of the others have said, save your money. Buy a decent USED car that you can drive daily. I bought my first Porsche at 30 (last year). I've already paid for a clutch (when having the RMS replaced), tires, and brakes/rotors (due to improper use of a wheel cleaner/hosing it off before winter storage). I know you can probably afford those things, but the question you should ask yourself "is it smart to be spending money on those things?".

Wealth is created but what you spend, not by how much you make. A car is a depreciating asset, and therefore depletes wealth. So the key is to use cash to invest, and buy the car with the recurring investment income you create. That income continues long after the car is paid for.

If I was you, I would first focus on buying a house/townhouse/condo. Now is a perfect time to buy real estate and you'll be much better off in 5-10 years if that's what you do first. Buy the book Rich Dad Poor Dad by Robert Kyosaki and read it. Some of it is cliche, but it is really good advice that will give you a different perspective.

Sorry for the lecture, but be smart with your money and create wealth. Then you can pay cash for your Porsche and have a lot more fun driving it. Good luck!

taylorsnutrition

Very good book, and I find myself reading it over and over all the time.

tooloud10

Every guy I've ever met that's waited has told me the same thing: "I'd have enjoyed it a lot more when I was younger."

I guess I don't think of it as an "all or nothing" deal...hell, go find a 996 with a reman engine or get a Boxster S or just make sure you have a warranty...these are $20-30k cars, and the maintenance is actually cheaper than any other car I've ever owned. It's not quite as "outrageous" as many here are trying to make it sound...I almost think that a lot of people just don't want to admit to themselves that owning a 996 isn't quite the unattainable feat that they'd like to think it is or was when they got one.

I've read Rich Dad, Poor Dad and The Millionaire Next Door and all the other books, and those books teach you how to have the equivalent of $10M in the bank when you retire...I'd rather have $5M in the bank and have done everything I wanted when I was young enough to appreciate it. Hell, I'm ****ing 30 years old and don't even hardly get a chance to drive my Porsche these days...work is so hectic that I find myself all over the state, almost always behind the wheel of a 3/4-ton pickup.

Rivarama

24479,

my POV is that you only live once. If you already gave up on a few things while in school, treat yourself now. Money comes and goes... but in the end it's just money so who cares. Who knows what can happen tomorrow. Get a Porsche !!

Bossman

You'll notice I didn't mentin The Millionaire Next Door, because I don't believe in the philosophy of living like a poor man to save money for retirement. But I do believe in creating wealth by being smart. It's hard to have $5m in the bank at 35 or 40 without focusing on wealth creation first.

To the OP, I'd say buy a Boxster for $17k and have fun with it.

Rivarama

I totally agree with you bossman. I am 28, and I bought my first Harley when I was 23, my first Riva (see Avatar) when I was 26 - and they're way more expensive than Ferrari's - and just closed my first P-car last week.

All Riva owners (usually 50+) that I meet, keep telling me that they envy me for having had the ***** to get one so young and enjoy it like I do.

The satisfaction of having & using them is unparalleled. Sure I could have put everything in my 401K or buy a bigger condo, but in the end it's all about what you are:
Do you prefer savouring the present and hope for the best? or live like a squirrel and amass nuts for future enjoyment?

I am sure you're smart enough to find a happy middle

tooloud10

Oh, absolutely agreed...it's probably the best compromise, as long as he gets an "S"...