Soulteacher

Oh, I'm having a major déjà vu... https://rennlist.com/forums/showthre...arget+customer

OCBen

The Wolf comes through!

Gee, we really are alike, aren't we? .. LOL


Btw, that thread brings back good memories of my nightmarish dilemma.

texas911

If you want it get it.

Hauser_III

How much income each of us needed in order to buy one isn't the right question. The question is, how much income do YOU need in order to feel comfortable buying one. Are you house-poor? Do you have kids? Private school or public? Retirement plans funded? Outstanding credit card bills? The list goes on. Ultimately, it's a personal decision, and what we think or did won't change your decision one bit.

carreraboy

I agree with Hauser. This question only seems to come up with Porsches. Nobody cares to ask the question for a $50,000 BMW or a fully loaded $45,000 infinity whatever. Porsches convey an image of extravagence that is not necessarily proportional to the cost of the car. I am comfortable but not rich and pair $80K for an '06 997 C4 and people around me say...wow, you must be rich or stupid. If I had bought a $50K 540i I would get absolutely no notice. My car cost 60% more than the hypothetical BMW...but do I need 60% more income to buy it?

How much income do I need to buy a $350 Mont blanc fountain pen?....$200K, $300K

1999Porsche911

Anyone who has to ask should not be handling their own finances. Work for your money rather than having it given to you and you would never have to ask such a question.

ds2k1

It's a really tough question. IMO, your income should enable you to afford the payment relatively comfortably (in other words, you're pulling in more money than you're spending and the car note isn't going to change your quality of living), you should have good equity in your home, and your investment portfolio/retirement scenario should look pretty rosey given your age and future prospects. I think there are too many all-or-nothing opinions being presented by the rennlisters here. That is, "don't get it if you can't pay cash", or "don't rent a depreciating asset", or, in the alternative, "if you can do it, do it - life is short". I think these opinions are too simplistic for the vast majority of us. Realistically, not everyone who drives a Porsche needs to be independently wealthy, but they also shouldn't be raiding the piggy bank to make the monthly payment. Truth is, we all need cars. Does your income/savings/retirement outlook allow you to afford a heftier-than-necessary payment for a car you really, really want? If so, then do it. I think my situation is probably right in the middle somewhere. My wife and I make a very good living (both earn well into six figures), have no kids, have good equity in our home (but don't own it outright), have no credit card debt, have solid investments and plenty of cash in the bank. Only real debt, other than day-to-day living expense, is our mortgage (very manageable) and my student loans (not too bad anymore). Would it have been smarter to completely pay off my student loans before popping for a 911? Sure. Would it have been optimal to wait until I could walk down to the dealership with a dufflebag full of cash to pay for it outright (even though, technically, I could do it now - but do it without flinching is really the point)? Sure. But I work hard and I think that, all things being equal, I have earned this and, more importantly, I think I can afford my payment without sacrificing my standard of living or compromising my retirement. So, for me, all of the above meant I could "afford" it.

boolala

My own personal opinion (what I myself do and not merely preach) is to only purchase cars that I feel comfortable paying cash for. Otherwise I'd be driving an F430 instead of a 911 (sorry) and a Maybach instead of an S class.

fast1

Porsches convey an image of extravagence that is not necessarily proportional to the cost of the car. I am comfortable but not rich and pair $80K for an '06 997 C4 and people around me say...wow, you must be rich or stupid

LOL So true. I wanted a friend of mine to check out a Porsche in Chicago for me. He said sure, but he said I must be rolling in money to be able to afford a Porsche. I don't know exactly what my friend makes but his base is around $150K and his annual bonuses are in the 25% - 35% range of his base. Since his kids are out of College and since he owns his home, no mortgage, I think he could probably afford a Porsche.

NVRANUF

My 997 falls under the "toy" catagory.... purely a subjective purchase based on wants, not needs. I could never lease, borrow or otherwise use some other entity's funding to aquire any of my subjective aquisitions. But that's just me, and a rationalization that works well for me.....

cayuga

Shouldn't buy one unless: (i) you pay cash and (ii) the 90k represents less than 10% of your net worth.

allegretto

If your investments are making more than the 6-7% for the loan, be honest with yourself here, then finance it and put an equivalent amount into that solid investment.

If you don't have such an investment (and most do not) then pay for it cash.

If you cannot do either, forget it!!!

They'll still make 'em in a couple of years.

OCBen

If you paid $80k for an 06 997 C4 I'd say that was a steal!

Lmmike

It should come down to... regardless if this is a daily driver or a toy, after you have all your other obligations including investments and retirement taken care of, then you buy what you can afford. I can't justify spending 100k on a car, but a used one in the 70k's i can justify as a toy. One of my friends told me about 5 years ago when my love affair started... don't drive a 911 until you have the means to purchase, because once you do, you WILL be in love and maybe make a purchase prematurely. After finally driving one last month, I'm glad I waited to drive it. I am still looking for the right pre-owned 997s now I have the means, but I might have bought earlier, even though I kind of had the money. MAN I LOVE THESE CARS

caf

$428,532.67
Just a rough guess.