When I bought mine last year it was not obvious. Almost everyone told me it was a bad idea, I didn't have a ton of liquid cash, I had a new kid and my wife was not fully on board.
Fast forward a year and the cash has sorted itself out, my wife is on board and calls the 996tt my 'therapist' because I'm pretty much happy all the time. And my kid loves it. Plus I've also saved up of the inevitable maintenance.

And you want to talk about fate: the day I cashed in my stocks, two of them tanked an hour after I took my money out. That's fate. Or at least luck....

So that's why I say, if you can make it work, do it. And on that note, here is all the justification you ever need: YOLO.

Can't argue with YOLO. Lol.

 

He had a truck to sell which means he will lose money and the list goes on read his original post. Someone has to be the voice of reason. If you bought a car like this with a new kid and had to sell stocks to do it= think about it. Needs then wants and save your money pay cash best advice there is !

 

I am with RMC on this- you need to keep the truck and if you can't afford it while keeping the truck, that may kill the deal. You need to have the cash for it-

And the wife needs to buy into the whole idea of you keeping the truck and having a toy. I had to buy my wife furniture. So budget for that.

These are great cars but I wonder if you need a starter Porsche?

Your original post was talking about depreciation- 993's are APPRECIATING (however they are older and have more maintenance issues) (plus a lot slower but still a classic).

You are going to have one of these; not sure if now is the right time for you.

 

The problem with that sort of thinking on these cars, is the fact that they are designed by one of Rube Goldberg 's relatives. They take the simple and complicate it,very often to problematic and car stranding failures. Over and beyond that, they are not designed for low maintenance schedules, and by maintenance I mean spark plugs every 30k coil packs 50 to 60k rear tires 15k or so, as well as many other items. If you don't have at least $8000 to immediately spend , it may not be the car for you. Many of the people on here are willing to overlook the many shortcomings of this car, specifically because it is their dream car, I let my wife drive mine.

 

Actually, I know three people who express just such a wish. Why? Not because the cars weren't fun to drive; it's because they bought used Porsches that had some issues, and they were at the edge of their comfort level just buying the cars, and when the string of expenses started they wound up putting a lot into the cars to keep them on the road, driving for a short period (under 2 years each) and then selling at a loss, plus the loss of all the repairs and mtc.

One guy lost $12,000 on a 968 in 15 months, then bought another one! Lost about $8,000 total on that one in 8 months and had to bail. He didn't have $20,000 to lose on a car in that short a time frame (which is why he was buying bottom feeders in the first place.)

Not saying this is the same situation, but it certainly could be if OP winds up like my local friend did with a 50,000-mile modified 996TT; put tens-of-thousands in it before dumping for less than he paid. Caveat Emptor...

 

I have sold more then one sports car for half what I had in it so I know what that feels like. Wanted to add I have sold a lot of everyday type cars that I bought to repair and resale for a nice profit so I hope I have broken even lol.

 

guys it is all relative. depends on his income and net worth and whether 40k is a lot of money to him or not. he is not spending millions here. And he said he can afford to pay for it if he sells the truck which he doesn't need. All cars cost money, just price out a lease on a new car and see how the costs there add up. I think he is going to be suprised how his interest lasts much longer than a year. I think a lot of m96 engine owners regret buying porsches. Lots of people use all different porsche models as daily drivers. My biggest advice is buy a cheaper car as back up and to haul crap around in. these are great cars and if you believe a few of the articles floating around here they are about to explode in price and you will make money (tongue in cheek). And be careful as there are lots of great cars out there but there are also lots of crap cars and scammers. Good luck!

 

FWIW 996 turbo prices in the UK have definately turned up a bit in the last 6 months .
Due diligence and buying a solid original car with the right history and PPI should be
A safe place to park some cash - as good as shares anyway + at least having a lot of fun if
They go down a bit .

 

Your a long time, dead!

 

Well, my honest opinion is if you need help justifying your dream this is a clear sign you are not capable of making an intelligent decision regarding this dream of yours.

I know that sounds a bit harsh and I really didn't want it to be but I am not able to find a softer way of putting it.

Let me try this: You should have, or need to develop, the ability to make these calls on your own.

You are faced with the responsibility of a wife to care for now and while it may be a long time off far into the future, maybe even after you have gone. Let me be direct: After you have died.

And if you and your wife have kids, then that just adds to the responsibilities.

So you will be making tough choices, hard decisions, and the consequences of making the wrong decision can be severe and unpleasant if not for you for your loved ones.

If you can't know for sure this is the right thing for you at this time to do then my opinion is this is a good sign it is clearly not the right thing for you to do at this time.

Gee, I'm not so sure that's any less harsh, but it is I think the "truth".

 

So very well put Macster I hope others read this.

 

tough crowd here. would you say the same thing if he were buying a honda accord for 40k? how many millions must he have in the bank for you to recommend a purchase? you would think that there was some possible liability related to this forum. guys he came to a 996turbo forum asking for advice about buying. Disclosure: Although the metzger engine is one of the best engines they ever made (and they made some bad engines), it can break and need repair as well as the other stuff on the car (these models were over 100k when new). Many articles are circulating that say these cars will be worth more in a year than now. Oh and I forgot to say these cars are fun to drive too, especially on a race track

 

you dont park cash in any car not already proven to have significantly risen in value. that's another absurdity. you purchase a depreciating asset. you guys really think that this iteration of the tt has risen enough to cover it's deprecation curve? not a chance.


my first tt from a porsche dealership cost $15k in repairs within the first 12 months and all were covered under warranty because it was within their limited cpo coverage for the two yr warranty and i had the foresight to pay the 3k premium for their bumper to bumper warranty. that proved a wise decision.

2nd one was a bit older with far higher mileage and has turned out to have been on balance the more reliable of the two since many of the known to fail points ( oh there are quite a few ) had done so, and had been addressed prior to my purchase.. i'm quite sure i still spent upwards of 15k on it well within the first 1.5 years.

you buy this car when you know you can afford it, not if you have to ask whether you"can". that is a cliche for a reason. but good luck whatever you decide.

 

I am an accountant and never once looked at how much it costs to drive, but how much I love to drive it. Money should not be the issue, either you want one or not......

 

no one ( really ) buys a 996 turbo because "money isn't the issue" particularly given these are not "collector" cars.. and i would argue what prompted many of to finally leap into porsches upper end of their product line, was in fact that we realized we could in fact get into them easily and they were not the $147k stickered car my first one came with. the point i'm making is they are still a100K+ car when you're buying parts or not capable of diy'ing repairs, so, sure.

show me the guy for whom money isn't a factor? and i'll show you the guy driving some iteration of a 997gt2rs, or at the very least a top of the line 991t. the guy began with should i sell my truck for crying out loud. we all understand why he;'d want one? some of are double dippers in the same model, so no explanation necessary there, but this was about "affordability" and the car ain't cheap to own/run/mod or maintain, and no ones getting their bread back after a year. that'll be huge kick in the a** after run costs have been factored in. then possibly a payment/interest on top of that!? whoever thinks this is wise, is nuts. fun? yes, wise, no.