Good luck buddy, just don't forget what many also said about not letting a car severely impact your personal life, marriage, and possibly dig you a financial hole that could leave you with more then just a lesser car then a Porsche.... A car can be replaced easily enough.... relationships not so much and financial ruin with bad credit, forclosure, bankruptcy could leave you without a P car for many many years.....and that would be the least of the issues at that point. Be smart and again wish you the best through this...

 

What is the current status? What options or solutions are you considering?

You have a lot of guys that have given advice and condolences. I think most would want to know what your plans are to resolve this issue. Getting second job?.... wife getting lower paying job?.... selling a kidney?

 

Well, looks like I'm out of time (and money) and I got the call that PF wants the car back.

Just never got the chance to re-fi the morrgage so I could have rolled it in.

I should hear today what is next.

This really sucks!

Deanski

 

I'm so sorry to hear this. PM me, I'd like to know how much is owed before Porsche assumes it.

 

Im in. Moderators?

 

with all due sympathy to deanski, that is an absolutely ridiculous idea. wouldn't that money be better spent on a cause more worthy than helping somone hang on to a luxury item that they can't presently afford?

 

Well, I do thank those that want to contribute, but I just don't know.

I have a boat-load of equity on my house that I wanted to use for this so I could roll in the full cost and at least it's deducable and with a very nice rate.

Problem is that due to my wife out of work, I'm the one that now has to pay for everything that prior I never had to worry about as we were quite comfortable.

It just breaks my heart that I'd have to return this Porsche after all the money I invested in it after so long and never assumed that it would ever come to this.

What's worse is that long ago (very long ago) I sold my 1969 L-88 Vette to a person and watched it go out the driveway when I went to purchase this place.

History may repeat itself.

Thanks to all who have provided advise and solutions!!

Deanski

 

+1. Charity should go to those most in need, imo. A great portion of the people in this world are without food, basic medical care, or fundamental political and legal rights. It sucks that Deanski has to give up his dream car, but it's just a car and it's the right thing to do. As much as we love our cars, a Porsche is not necessary for a happy or worthwhile life. Good luck, Deanski.

 

Let's not get all political now.

 

Sorry to hear. Best of luck going forward.

 

...cannot believe this thread is still alive...it appears to be headed to closure...

 

Not trying to get political. Just saying that if you are going to give someone money, it should be to someone who needs it. I think that's a point people could agree regardless of politics. Preserving ownership over a really fancy car is obviously not an issue of need.

 

I think you're beating yourself up over this way too much. The money you "lost" on the car isn't a situation unique to you, everyone here has lost money on cars due to depreciation or just not liking a car as much as you thought you would and selling it for a loss. I've bought and sold about 6 new cars over the past 10 years and the amount of money I've lost doing that was probably foolish, however it was a great experience and depreciation is the nature of the game. I've had regrets also, just like yourself. A couple of those cars I now wish I didn't sell, especially had I known of the impending economic collapse. Like yourself I'm struggling a little now due to my business closing, a career change, expenses from my children, wife doesn't work, investments cut in half, etc.

What I'm getting at is, it seems from your posts that you're really taking this too hard and too personally. Life is a series of ups and downs, it's nothing you did personally, it's just the way it is. You seem like a resilient person and I believe you will get through this hardship and come back stronger then before. The thing to remember is no material object can make you truly happy. Sure when you get something you wanted or something really fine, like a 911, it's makes you euphoric but that is only a temporary condition. Sooner or later, life will slap you in the face with another problem and things won't be so rosy anymore. As long as you have the ability, enjoy your life and find happiness in the simple things. Let everything work itself out and when you have the means, get another P-car.

 

I'm sorry to hear about this but remember it really is just a car.

Yes I know that is heresy here.

 

do you have a realtionship with a banker that could roll things over until you could use the home equity? If you really don't want to lose the car, that's what I would do. All you would probably need is a month or so to secure the home equity. Also, if you have to pay this way for 6 months or so until your wife gets another job, then it's worth it. With a home equity line, you could write a check for the monthly payment on your car and make a minimal paymnet on the equity line...just my 2 cents. Good luck!!!
Things will get better!!!