PogueMoHone

Think this through a litle more. You wanted a Turbo and you're going to settle for an M3.

An hour after driving offf the lot you're going to suffer "cognitive disonance" buyers remorse.

I've traded tons of cars seeking perfection and have always come back to Porsche. So, if you can learn from others (mine) mistakes then that's the best way.

I owned a TT, which traded for a GT2; and then bought my wife a 996 with the X51 package. Comparatively, I can tell you the 996 well equipped is the best value Porsche I've ever driven, and a lot of fun. I recently sold my M5 (said I'd traded a lot of cars) and I don't miss it a bit, it was enjoyable but too big and heavy in corners. That's why I suggest you'll be disatisfied.

If you can't quite swing the TT, then instead of the M3, consider a varient of the 996. You'll experience similar handling characteristics, learn the handling peculiarities, and be ready for the TT in a few years.

It may be too late but you might also consider a GT3, if they are still available.

The M3 is a fine car but it's not a Porsche and if that's what you want then fight that "new car fever" for a while longer.

Since I'm on a roll here, I might also change my appraoch as to how I would look for a car, I'm not convinced a broker is the way to go.

If you want to discuss it further, you can e-mail me privately, and for the record I have no financial interest in any potential transaction. I'd like to see you make the right decision, instead of making one on the rebound.

Redlinerobert

Dr. G,

I completely agree with TestnDoc above. I'm leasing my new C4S. In order to get my payments to an acceptable amount, I decided to put $10,000 down. Rather than putting $50,000 down and buying the car (which WILL depreciate), I took the other $40,000 and bought another rental duplex here in nearby Salinas. In four years I'll turn that $40,000 into $140,000.

mitch236

Get the TT. You will regret it if you don't. My partner has the M3 SMG and it is a nice car but isn't even in the same league as the TT. Look for a nice used one to save money. Definately get a different dealer no matter what you buy.

You should also talk to someone about cleaning up your credit. This will come back to haunt you again and again. I too, like so many others here am a doc who is out of residency by 3 years. I have found many instances of duplicated student loans on my report and am still trying to fix everything. It's frustrating, but the TT is not. I love driving it.

docjackson1

i am an internist in nj and have recently leased a 2003 tt from a south jersey dealership. whatever your credit is, the dealership jerked you around. it certainly is possible that you may have to pay a larger monthly payment because of your scores, but the salesman should be able to get you an accurate quote. these people do this day in and day out-they are playing with you. leasing does make sense-with high residuals, lower money factors and cap costs, the monthly payments now are very reasonable. try schneider-nelson. i have leased/bought 4 cars from them and was happy every time. good luck

mitch236

When I leased my car I had no problems. We made a deal and the lease was approved. I am an Internist as well and have the obligatory student loan load. What I was quoted was what I got. I guess it's very dealer dependent. Try Braman Motorcars in W. Palm Beach and talk to Joe Ferguson. He'll deal straight. No B.S.

email me if you want more info.

Mitch

mwilson

If you are going to drive the car hard, especially if you are going to drive it at places where insurance will not pay for it - pay for it in cash. Hillclimbs are my example of where crashing is paid for by me.

If you are going to own it for a long time - again I would pay in cash, but my money management skills suck.

If you are going to do the CJV thing - again leasing is not a plan.

Leasing is great for a car you want to have in stock form for a few years and then trade for something else. Is that a Porsche Turbo?

I paid cash for mine. I am an engineer who got lucky in startup stock options. Otherwise it would still be Mazda RX7s or corvettes or whatever the cash could buy.

Michael Wilson

TestnDoc

Dr. G,

As a physician, I do not tout myself to be a financial expert, but it sounds like this salesman you are dealing with is way off. I cant imagine that it is much more difficult to qualify for a house, than to finance a car, but in any event, he should be able to give you a straight answer in a few hours, not a few days.

As you can see/read, this forum provides a tremendous amount of insight and advice. COLM's last post is so right on..it describes me and many others to a T. I too, have owned and traded more cars than I can count and rarely ever felt like I have had a perfect car. The car that has come the closest is my Lexus LS430, but in terms of sports cars, I would say the 996cab is an incredible all around fun car to own. As a matter of fact, Im trading my TT for one next month...get what you really want, dont settle..you will regret it...good luck!!
<img border="0" alt="[cheers]" title="" src="graemlins/beerchug.gif" />

Dr. G

I spoke to another dealer tonight regarding the lease on the 996TT. They explained many things to me that the previous dealer failed to mention - some things that can save me significant money both at the beginning of the lease as well as with the payments. So we're into round two with the new dealer. All things conisdered, they seem to be really on top of things and very up front with me.

BTW: Anyone have photos of a small aluminum package over black leather?

PogueMoHone

A review on leasing To remove the mystery for the non- financial types)

MSRP (sticker) used to set residual value
Capital Cost (MSRP-discount)
(Capital Cost-Residual)/ # 0f months = Monthly depreciation)
Residual Value: A percentage of original sticker, about 55% for a 5 year term. The higher the better.

Money Factor (MF) (.00XX) x 24 = APR

Capital Cost + Residual x MF= Interest Cost

Interest Cost + Depreciation = Monthly Payment (B4 Tax)

This approximation will get you very close.

A typical money factor today should be .0023 (60 months)

Hope this helps, if you have questions as to how to apply it let me know

KPV

Dr. G,
I am happy to hear you are having better luck with the new dealer. I am also happy to hear you are pursuing the Porsche rather than the BMW. I agree with the others' opinions that the Porsche is in a different league.
Regarding the differences in dealerships, my experience has been that you will find vast differences between them. You may want to look into the Posche Club of America's Dealer liason program for additional help. I too live in NJ and I believe I know your first dealer based on the info you disclosed (Not too many Porsche dealerships in NJ). If it is the one I am thinking of, they sell Porsche, MB and Jaguar. If it is the same dealership I am thinking of, it is also the same one from which my girlfriend bought her MB SLK. Her experience was mediocre at best.
Good luck at the new dealership.
Personally, I have given up on these dealerships unless it is absolutely necessary. My last two cars (1995 993 Carrera Coupe and 2002 TT) were purchased used in Florida, via the web. I have had Porsche dealerships and independent autobody shops thoroughly inspect these cars at a cost. Arguably, the difference is that they (used car dealership, hired inspection dealership and hired autobody shop) are more apt to work harder for you since there is a sort of vested interest. Once I have received a clean bill of health, I have purchased the plane ticket, flown down and driven back to good ol' NJ. It also serves as a great new car owner break-in period.
Regards,
Ken

Dr. G

Ken,

I sent you a private message.

Dr. G

I've decided to bag the lease. I will be getting a Turbo, but most likely it will be an '04 built to my own specifications and I will purchase the car. I started another topic regarding the '04 model year, but when should I plan on visiting the dealer to order the car?

docjackson1

doc, buying the car in 2004 is a bad idea, unless you are loaded with money and you just don't care. let me tell you why you should lease a 2003. 1)residual values, especially from chase leasing, are extremely high now. this makes your monthly payment lower. you should be able to lease a tt for 39 months for around $1450-$1500/month, no money down, tax included. 2)in a year or two, a new body style (997?) will come out, with a new turbo. this will decrease the trade in value of the 2004 that you buy significantly, as the 996 did to the 993. if you buy the car, you will suffer this depreciation, if you lease it now, you will not. leasing now is smarter then buying later. but, what might be smartest is to lease a c4s, or a c2. i sense that you are stretching it to get the tt, and i don't blame you, we all don't make what we used to. but you might be smarter taking advantage of the oversupply of 996's and lease a really great car for about $1000/month, or less. driving one of these cars (996) for a few years at a more maneagable price might be your best and smartest option.

Dr. G

I've been thinking about this a great deal over the past few days - specifically the introduction of the 997 turbo somewhere in the 2006/7 range. The only other car I would consider would be a C4S - My audi TT 225 Quattro has made me a believer in the real world comfort of all wheel drive. The problem is, I have no idea how to locate a car that fits the colors/options that I want without ordering one new. Is there a database to search for a car?

docjackson1

you have to go to a dealer and let them try to locate a car for you, either from another dealer or from incoming stock. as i said, try schneider-nelson in west long branch. i have gotten 4 cars from them and i have found them to be excellent to work with. give michael schwartz a call.