Hello All.

Here's my (shorten) story...
I am a caroholic. I have been on a quest of finding the perfect car that I can live with way past the payments for the last 15 years and 18 cars. I thought my 05 997 (non-S) PCNA Demo would be said car. As a child, (like most) I dreamed of owning a 911. When the demo appeared and the dealer took a huge diso**** off MSRP to get it within my price range without one dime out of my pocket (not even 1st month - a true sign & drive). I could not resist.

Here's my problem...
The demo had more wear and tear than I would of wanted (bought car via email & phone) - not the best idea, I know. Please no bashing, remain focused. The dealer made every attempt to correct the problemed areas (had car 6 weeks doing so). Now the car has numerous burn spots from over wet sanding, a painted deck lid (that needs to be re-done), and still has excessive amount of fine scratches that could not be buffed out, plus 15K on the ODO. I feel soured and that I am not experiencing the 911 as I should be.

Possible Solution (here's where you come in) ...
Dealer (sales rep/ internet sales mgr) feels truly bad (as much as a stealer could feel, anyway) about me not being happy with my first P-car. Terefore, he's been trying (at my request) to work #s on a nicely equiped, Brand New, Shrink wrapped 2006 Slate Gray 997S

Here's the deal they worked out for me (Also, I had a $10K negative equity from the trade on my current car). This deal seems to be carrying over that deficit, but they are giving 99% of the money on my current 997 (their contribution to the deal).

MSRP $93K

CAP $0

Down $0

Neg. Equity on trade ($10K)
Carried over from
previous trade 3
months ago

Bank BS Aquisition,
1st Month, +++ $2332 (total due at signing)

60 Month Lease
12k Miles + 7% Tax = $1632 per mo.

A few considering factors...
My score dropped considerable within the last 3 months (when I leased the demo). I am rated a tier 2 level, currently.
I am not really happy with my beat up demo.
I wanted the S from the begining
My payment will jump $380 per month!
Two weeks after taking delivery of my current P-car, my wife told me we're expecting our first child
Payment wise, I was stretching the current P-car and will have to cut back on ??? to be comfortable paying for the New S (I love sound of that).

After some thread searching, I went on Leasecompare.com (great site) and the payment the dealer is giviing me seems to be in line with aprox 7% off MSRP.

So, is it worth it???

THANK YOU ALL VERY MUCH IN ADVANCE FOR READING THROUGH THIS NOT SO SHORT STORY

 

No. it's not worth it. You really need to learn some financial discipline. Now that you are expecting a child get used to the idea of delayed gratification.

18 cars in 15 years is nuts for someone in your financial situation.

It sounds like there is nothing wrong with your current car except some cosmetic issues. The perfomance of the S is almost identical to the base model. You will be disappointed yet again. Maybe you'll lust for the TT. It's just not worth putting yourself deeper in debt to finance a depreciating asset when you need to be concentrating on a new arrival to your family.

If you don't know where the extra $380 a month is going to come from then don't do it.

Even if you do--don't do it.

 

huh?
not a whole lot to go on?
why do you lease?
own a business?
stretched to make the lower payments and now
you're going to have a baby a even larger payments?
you seen the price of gas lately?
you seem to be digging yourself a ditch!
good luck cause it sounds like you're gonna need it!
congrats on the baby due better start saving up!

 

I know what you are saying and appreciate your opinion. The extra $380 would basically mean cuting back on an evening out once or twice a month (which would probably happen once the baby comes anyway).

There isn't much I can say about your arguement on a financing a depreciating asset... You're right, this is basically an indulgence. If I were being 100% (financially) responsible, I would probably be driving a Honda and saving up my for child's education and waiting until I have a full head of gray hair to buy my new Porsche.

My biggest battle is that my wife says to do it and I am trying to find the value in the extra $380 a month.

Thanks again


PS. The TT really doesn't interest me, but I got your point.

 

Thanks for the congratulations. I lease for two reasons mostly, 1) business expense 2) lower out of pocket and payment (a value since I turnover vehicles quite frequently).

The strech basically comes from me not wanting to pay so much for a car. I am having a difficult time with having to pay for the priviledge of driving a Porsche. However, after driving one, know that this is what I want.
Gas prices will be expensive regardless of what I drive, I am not scrimpping by and living in a trailer. I make a nice living, just quite frugal.

Thanks!

 

Dude, like the others have said. Just cause you can swing it now don't mean you can do it 10mths later when your child is born etc etc.
Don't even understand why you'd consider this at all. Leasing allows people who can't afford to buy something better but then you just throw away the money like a rental. If you need to lease... go get a cayman S... cheaper and easier on the payments. The dealer is not doing you any favors by making this deal... they are still making money more money since they dumped that demo on you too.
A child are better than any P-car anytime, and the gratification of fatherhood is something not even a 959 or carrera GT will provide. And if you don't feel that way, then good luck.

 

I think in this case if you have to ask, you probably already know the answer.

Your post was well though thought out, but I get the feeling from reading it that you realize you should be content with what you have and should hang in there with it. All those cars for the last 15 years is a bit much.

Good luck with your decision, and congrats with your 1st. They are truly a blessing.

Take care...

 

Thanks for your input and congrats.

 

MAZNG,
Your Porsche intoxication is clouding your rational judgment. It's an easy thing to have happen, there's a 12-step program for....just kidding. I don't know if it's your diminished credit rating that ends up inflating the monthly lease payment, but that $1600+ is way high for a 60 (!!!) month lease, even with taxes included. 60 months is too long to lease any car. What's the money factor on that- sounds like it has to be ~.0040 or thereabouts?

I would lean on the dealer to do a top quality full panel respray of the over-sanded areas on the current car- if the damaged finish is THAT obvious, the dealer ought to acquiesce. The base 997 is a fantastic car, your proposed trade-up deal to the S is not worth sacrificing the money or the peace of mind. The baby seat fits the same in both cars- congrats.

 

Thank you.
The inflated payments comes from the negative equity I've carried from the trade on the base 997. The scracthes and burn marks are THAT obvious and they did re-spray one area, which made every thing worse in the rear end of the car. Now the car has positively lost value since it would appear to someone that it has had body work done (tape line near rubber trim, overspray in hard to clean areas, etc.)
It is going back to the bodyshop, but this is what I am truly soured about and causing me continous stress, not the payment. I am holding on to (extra $) that the most as a way of telling myself NO. My wife on the other hand, knows my **** retentive side and knows how much aggrevation I have experienced and will continue to have until I am out of this car.



I'm actually surprised that no one yet has held the S model in high regards, when all I read is how wonderful it is all over this forum. I opened the door and respect all of those who have chimed in with their opinions. I am also sure that Fatherhood will have me shinning from the inside and full of joy, but my love of cars will not diminish. Besides, what would be cooler than driving my little one around in Daddy's awesome 911. lol

My decision really comes down to this: trade in now or later.

I just wrote the dealer that it would not be now unless they could work a better deal. We'll see what comes of that.

 

MAZNG,

You probably are getting the flavor that the unanymous advise of this forum is "NO, DON"T DO IT". But hey, you only live once and you will never get younger, and when that kid arrives, you'll hit major midlife crisis and the P will soothe your soul...but only for a moment and then you'd want another car or another thing to fill the void. But, just may be, and very highly probable, that when you hold that little toddler in your arm, you will experience some life changing Yahoo moments that no other P's can compare and you'll will never want another P again. (I hope that might be the case, but I wouldn't bet on it)

Bottom line is, whatever happens, you'll will sell that 997s in less than a year. You will surely not able to tell the difference between the S and non S except for the cosmetic.

Should you do it? Do you have money to burn? Some guys in this forum, perhaps most, can throw around 100k like you and I toss a few bucks for an ice cream. But, Dude, if you are debating about $380 payment and what you have to cut back to make that payment, what are you thinking?

Don't do it. Save that $380 for your kid's college education fund.

 

I have to agree with mdonline. Your outlook on cars WILL change once you have your baby... all for the better. I am also a car nut, but I love my 2 1/2 year old daughter WAY more than any car. It is great that you can get a forward facing baby seat in the back of the 996/997... My daughter's first word was "DaDa," and her second was "vroom," all because of my 996... that is the story I tell now about my car, and it wouldn't matter if I had a Turbo, 997, or 997s... the story would read exactly the same...

Just a quick reality check on saving for college... you need to be socking away $300 per month from the day your child is born to finance an IN STATE college education... seems like a no-brainer where the money should go...

Cheers and congrats!

 

Cosmetics and option list on the new one is a huge reason I'm not looking at another base just to have a new 997.
I don't have $100K burning a hole in my pocket, but I do well enough to afford my lifstyle (not to mention my wife's C6 Z51 + upcoming E350). Like most, I set budgets up and my alloted budget for my car was $1500 (including ins), per month. New payment with insurance would be about $1800. It's not a crisis, but in my mind, I need to cut back on something else to maintain my current saving and investing patterns. Giving up a couple of nights out or not buying the newest gadget when it comes out would resolve that. Kiddie's college fund is being set up through Fl. Prepaid plan. Besides, he/she will be so smart that they'll have a full ride. hahaha... that would be nice.

I guess my decision is made... almost.

 

get what you wanted in the first place....997S if it turns out you can't swing it after a few months...sell it...you have lost money and are going to lose more anyway...might as well be happy with the car. you have 8 months to see if you can swing it.

 

HAHA... good point, but I think I gave the wrong impression by using the terminology "stretching" and wording it the way I did. I was only referring to my set budget for any particular car payment. I wouldn't even consider the new one if I could not afford it or think of the added expense of a new baby. It would be nice to be wealthy, but I am only 31 and have a bit more to go before reaching that point.

The deal itself is what I was wanting opinions on. The rest was just background info since I'm new to this forum. I know I have a problem with losing money on cars... it's my vice. I don't have others, though.