sleepy

I've been lurking here for a while, and now my dream of actually owning a 911 is coming close. Thought I'd come out and say hi.

I'm considering a base Carrera, because it gives me incentive to move up the model chain. Have been actively looking at online listings. A couple questions came to mind, and I'd like to hear what the great people here think.

1. Buy new (loan) vs. used (pay in full)
I have about $50k spending budget. I am paying my mortgage (about 1/3 of my monthly income) and my primary car loan (0% interest, piece of cake). Buying a new car means a headache-free experience, but it also means taking on a new loan -- would you guys be willing to take on more financial burden for such a "luxury" item? This also makes me wonder -- do you guys pay off in full for this type of high end cars, or how much down payment if going the financing route?

2. Carmax vs. Porsche CPO
If going the used car route, opinions here are mostly in favor of CPO over non-CPO cars. But I've also seen some CarMax listings at good prices, and they seemed like honest people last time I visited a local store. I searched the forums and Carmax experiences were mostly positive. Would you guys recommend CarMax? Should I expect CarMax be a couple thousands (how much?) lower than a similar CPO deals before considering it?

Thanks for the help!

ADias

Buy used.

yemenmocha

Buy used.

Edgy01

From your description I would suggest you look for a 06-08 997 that is ultra clean. You don't need any headaches from 'issues.' For the most part, these things appear to be holding up well.

997driver

The used market is to your advantage and there are plenty of great examples out there!

pewter82

I think I was told that the base 2011 Carrera had the highest residuals for the 911 line. Its possible to buy it right, and be in a decent position to get out of it later down the road.
But, for the same money basically, you can get into a used S, and get better equipment.

The base 2011 Carrera is a very nice car and very capable, I tossed the New idea around a bit, but at a list in the low 80's, with few options, a used C4S made better sense.

Each to their own, both choices are wonderful to have, and to be able to afford !

jason

Bullit

Here are a few thoughts to consider:

1. New vs Used: You can always find great pre-owned examples out there if you are willing to be patient. Personally, I'd rather find a great pre-owned example where someone else has already taken the hit on depreciation but there's another side to that question that others subscribe to (i.e., there's nothing like brand new). You will cut your best deal financially when you buy, not when you sell, so negotiating a good deal up front is paramount. Regarding the question about financial burden, this is very subjective. Some can write a check for a new GT3 and not bat an eye. Others must scrimp and save for years just for a down payment on a car that's several years old. You really must look in the mirror to find the right answer for you. First and foremost, I would make sure I was socking away as much dough as possible for the future. If then you have some disposable cash to pursue your dream, then by all means pursue with a vengeance!

2. Carmax vs Porsche CPO: Have not personally gone either of these routes but given a choice, I'd have to give the nod to the CPO for peace of mind.

Hope that helps. Best of luck in your quest.

Fahrer

I would check used cars and new cars that have been sitting around for a while. I was originally looking for a 993 but found my 2008 C2S at a new car dealership in 2009 when the 2010's were coming out. I got a big dscount on a car with 60 miles. I would check the internet ( autotrader, cars.com ) and CPO'd cars. The 996s are a particularly good value.

Good luck!

winkingchef

Buy used.
Get PPI (Pre Purchase Inspection).
If you are tight on money, consider CPO (certified pre-owned) or other warranty.

3 years old is your target. Shoot for less than 30k (preferrably 20k miles).

Take your time, enjoy the process and don't settle for less than your dream car!

TerpsRED

I agree, buy used. Someone else has already taken the depreciation. Carmax is a fine business, with the no hassle pricing, but they are just a used car dealer. If you buy a clean car from a private person with CPO, the CPO transfers to you (Simple paperwork to register with Porsche). I too went for the base carrerra. It got me the car I wanted and I got a great value for the $. An S would be nice, but I drive this car in traffic and around town mostly so most of the performance would just be sitting in the engine bay doing nothing. If an S had fallen into my lap, I'd be in it, but it was not a must have for me. In the end I found a great solid car with low miles and a CPO still in tact for almost 2 more years.

Be patient (I know this is hard) but there are a LOT of cars out there. Don't forget to expand your search to neighboring areas/states.

Skibum

I was in pretty much the same situation..
Buy used. Know what you are looking for. Be ready to purchase when you find what you want, because it'll likely be gone next week...
I looked for 2 years before finding exactly what I wanted.

henrysko

Buy used with CPO, either from a dealer or private party (tranferable), and just pay cash.

Then, the fun really starts.

Good luck on your hunt.

NC 997

I bought new.. it was the only way I could get the car I wanted. For me PDK was a must have, which limited me to '09s and '10s, and since I wasn't a fan of the non-paddle steering wheel, it meant I had little choice but to go with a '10.

I also bought last summer when Porsche financing was at 1.9%, which makes a huge difference over the period of the loan - it's almost as if you're not paying any interest.

Other than taking a bath on the depreciation - and it is significant - I have no regrets. Would I do the same thing again? You bet I would.

cvazquez

You mentioned your budget at 50K, so IMO purchase used with CPO. You could get into a great example in this economy so take advantage. All the best!

StanThePorscheFan

I would suggest you find a used 09. They run about $65000 or less right now. The main upgrade is the DFI engine. Many other changes were made for 09 as well. Put your $50K as downpayment, finance the rest.
I was faced with similar dilemma a few years back. I had $75K ready and could have just paid in full for a nice pre-loved 997.1. Then I realized, I am so close to the price of a new one. One that nobody touched before me. One I can build to my exact liking. Thats what I did and would do it again in a heart beat.

Buy the newest you can afford.