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^^^ Agree - not saying this necessarily applies to the OP, but in general the stress and risk that would come from an unsustainable financial situation would sure be a buzzkill versus the fun to be had from the car...
I've had Porsches for 25 years and just "know" that one way or the other, I'll drop on average a few hundred bucks a month for maintenance/repairs, upgrades, fun events, or some combination. Part of that comes from having old classic/vintage cars around. Certainly some of the late models are more "appliance like" where ongoing spending would be less of a tendency or requirement.
Jeez, you guys on this forum are so critical. I'm living in mine. Walmart has a portable shower and Sterno cook stove for cheap. Fits right in the boot. I figure when I'm old enough to collect Soc Sec, I'll just sell the 997TT and downsize a nice 1999 996 with cash left over for additional living expense. There's a couple parking lots by Oxnard beaches you can stay free for three of four days before the cops move you along.
Jeez, you guys on this forum are so critical. I'm living in mine. Walmart has a portable shower and Sterno cook stove for cheap. Fits right in the boot. I figure when I'm old enough to collect Soc Sec, I'll just sell the 997TT and downsize a nice 1999 996 with cash left over for additional living expense. There's a couple parking lots by Oxnard beaches you can stay free for three of four days before the cops move you along.
So how would you explain to your wife that you used to have an air cooled Porsche, but you just spent $8K replacing the entire water cooling system on the TT?
I told her on the way to a nice dinner, and that her 76K mile Mercedes CLK550 would need similar work down the road.
I realize I am a fiscally conservative buzzkill, but I firmly believe that you should pay cash for your toys. Yes, totally un-American I realize, but that's how I roll.
I'm slowly learning to keep my mouth shut on things. My other half doesn't need to know about the money I plan on dropping on an aftermarket warranty. Need to learn not to ask anything and just do it.
I realize I am a fiscally conservative buzzkill, but I firmly believe that you should pay cash for your toys. Yes, totally un-American I realize, but that's how I roll.
Same here. For one, I can't get around paying interest on a depreciating asset
When I started racing my first instructor told me "Never to take a car to the track that you can not afford to walk away from at a total loss". I think that should apply to any car really.
I'm slowly learning to keep my mouth shut on things. My other half doesn't need to know about the money I plan on dropping on an aftermarket warranty. Need to learn not to ask anything and just do it.
There's lots of rules to a good marriage, and omission is the best one.
For years my wife thought race car tires were only $200...I told her they were cheap because they didn't have any tread and didn't have to meet DOT regulations.
Same with fishing gear. When you're at Sears pick up a Zebco budget rod and reel for $19.99 and point out how cheep fishing gear is. Than when you bring home a Shimano Tiagra and Calstar Grafighter, she won't blink an eye
I'm actually really surprised by the advice in here. I figured the YOLO view point would be more prevalent in a kanye west fan forum. You guys really think its a good idea to buy this car utilizing financing without having 10k in savings?
I'm not saying he should wait till he's 60 to buy the car, but if he earns a good living, shouldn't he really do the following:
1. 6 month minimum emergency fund
2. very large down payment resulting in very little financed
3. max out 401k/IRA contributions
It seems to me that this would put the car much more comfortably into the OP's situation.
Also, having to sell household items to fund repairs? That sounds reasonable to you????????
very surprised by these responses honestly
I'm with Oliver here. Sure, there's a YOLO component to owning these cars, but so many posts are here because people freak out at having to spend money to fix something when they knew going in it was a potential problem. I see this more on the 996tt board, but there are tons of people who have these as "bucket list" cars. They buy them for 6 months, drive the **** out of them, do squat for maintenance because all they can afford is gas and payments, and ruin a perfectly good automobile.
My first P-car was a brand new 986 in 2000. I couldn't afford it, but had to have it. I was scared to death to own it out of warranty, and to make matters worse, I leased it to get the payments down. I got rid of it and bought a very used 911 that I *could* afford, and learned Porsches that way. 16 years later, my financial situation is very different, and a $10k problem (while not my favorite) isn't going to put me in hives like it would have then.
That being said, they are not hard to work on if you have tools, patience and the internet. I've talked myself out of doing several jobs (lifters and valve cover gaskets on the 993tt as an example) that people like Kevin talked me back into, and it really wasn't that bad. Now I'm just busy and outsource it to ONE person I trust implicitly.
Go into a purchase on these cars with your eyes wide open.
I'm with Oliver here. Sure, there's a YOLO component to owning these cars, but so many posts are here because people freak out at having to spend money to fix something when they knew going in it was a potential problem. I see this more on the 996tt board, but there are tons of people who have these as "bucket list" cars. They buy them for 6 months, drive the **** out of them, do squat for maintenance because all they can afford is gas and payments, and ruin a perfectly good automobile.
My first P-car was a brand new 986 in 2000. I couldn't afford it, but had to have it. I was scared to death to own it out of warranty, and to make matters worse, I leased it to get the payments down. I got rid of it and bought a very used 911 that I *could* afford, and learned Porsches that way. 16 years later, my financial situation is very different, and a $10k problem (while not my favorite) isn't going to put me in hives like it would have then.
That being said, they are not hard to work on if you have tools, patience and the internet. I've talked myself out of doing several jobs (lifters and valve cover gaskets on the 993tt as an example) that people like Kevin talked me back into, and it really wasn't that bad. Now I'm just busy and outsource it to ONE person I trust implicitly.
Go into a purchase on these cars with your eyes wide open.
Agreed, i didn't read all the posts, this isn't a YOLO car for someone with 10K in the bank. That makes no sense. I do think people need to take the $10k repair issues with a grain of salt. These aren't maintenance free. Doing things yourself saves a ton of money but odds are something will go wrong on them at some point and you will need to open up your wallet.I think someone should be able to put down at least 1/2 of the cars price to comfortably afford payments while being to still save money and live a normal life.
04-05-2016, 01:38 PM
