I want a Porsche, but can I afford it? - Rennlist - Porsche Discussion Forums


I want a Porsche, but can I afford it?


Old 03-15-2011, 12:48 PM
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Default I want a Porsche, but can I afford it?

Hi Folks - New guy here, and was told this is the place to ask my questions about purchasing a higher mileage Porsche.

I'll 1st start with the criteria I would like to stick too...

-Under 30K (would be willing to bump this up to 35k for the right machine)
-Under 100 000km (60 000miles)
-I would like a 996, this seems like the newest affordable route for me, but I know nothing on these cars, maybe an older model would be the better choice for me??

This purchase would be replacing my current car, I track it maybe 4 times a year, and probably sees less than 15000km a year.

I am being told to stay away from high mileage Porsche's, they can be expensive to maintain but I would like to get the real world numbers.

-What are some common issues on the 996's I would need to look out for? I like the C4S model the most, and with Canadian weather, would appreciate the AWD (All my vehicles are AWD or 4X4).

-Whats the differences between a 2002/2003 C4S and a C4?

-What are maintenance cost REALLY like?

-I'm a Canadian looking to buy in the states, any info on this process would be great. I know the basics, but any Porsche specific info would be great.

Im sure I'll have more questions.

Last edited by AWDGuy; 03-15-2011 at 03:00 PM.
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Old 03-15-2011, 12:51 PM
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I'm of the opposite opinion on mileage on Porsches.

I'd rather have a high mileage, documented car, than one with low miles and no records.
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Old 03-16-2011, 01:53 PM
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You're looking at a significant financial commitment. There are a couple of buyer's guides, one is "essential" the other "ultimate". I bought and read the "essential" version for the 996. It contained candid advice on known problems and realistic expectations.

A low-mileage car has more value per blue-book but may not have had enough miles put on it under warranty to fail a failure-prone part. That's one consideration.

High-mileage cars are less expensive due to mileage and its effect on mechanical components. Wear-and-tear items will more likely be a problem, moreso with poor maintenance.

I agree with high-mileage+good maintenance > low-mileage+unknown maintenance.

Define "affordable". It's not just the monthly loan payment plus insurance costs. If you can't afford $1000 in a maintenance fund every quarter you probably can't afford a Porsche to have a problem.

I do much of my own maintenance but the parts still cost a lot more than average cars. There are a lot of crap knock-off parts offered (alternators, starters, etc) that look like and will fit like the OEM part but will fail within a year or two, often with spectacular results. These are high-performance cars that put above-average demands on parts. I can't tell the correct alloy by looking at a part, if you can't either you'll have to buy the trusted parts that do cost more.

If you're honest with what you can afford your ownership experience will be rewarding. Mine is.
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Old 03-16-2011, 02:16 PM
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Work the car yourself! Learn how to,, if you don't already know... It's really part of owning a sports car! Touching every part, and learning how/why the car works will make you a better driver and owner.

At the Very least learn how to diagnose the car perfectly… This can save you $,$$$ at the mechanic.

For your price range don't Rule out 964/993s: as You can pick one of these cars up which will be very well sorted out mechanically, and cosmetically. and Dont' worry too much about miles because lots of high milage cars have newer parts than most lower mileage cars! Either Way RECORDS are very important, and if the owner is active on this site that is a real bonus!

Good Luck and You have certainly found the right place to be for P-Car Advice.
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Old 03-16-2011, 02:27 PM
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Originally Posted by Centauro97 View Post
Define "affordable".
The car will be paid for, no monthly payments, I'm just worried if I buy something with 100k on it, I am going to be spending $350/month to maintain it. This I do not want.

I do most of the work on my cars myself, I've replaced engines, transmissions, have all the hoists, tools, and garage needed for it, so i am not scared of getting to know another car

Thanks for the advice guys. I will post what I am looking for here before buying for sure!

I really need to sell the current ride though.
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Old 03-17-2011, 03:53 PM
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Buy one of Wilhoit's 1994-95 928 GTS or S4's.

It will be turn key and ready for Canada.

It will be under $35K and in perfect nick.

It's mileage will be in a good spot for that price.

Where in Canada?

If you go the 911 route be prepared for many different variations and options as well as risks/pitfalls. Goes for any Porsche really.

If you plan to drive year round--go with a Carrera 4 or 4S or Cayenne SUV. Seriously.

Put $5000 aside per year for your car if you plan no mods whatsoever. $10-20 per year if you do. It's addicting.

In best case, you build up some serious cash. In worst case-you have the car running nice.
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Old 04-25-2011, 10:13 AM
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Find a 996 with the 3.6L motor, which is a more reliable motor (no grenade issues). Look for a car with a service history that can be traced back as far as possible (to new) and then have it inspected. Porsche's in general are very reliable. I have had my 2006 Cayman S since new and I have over 50,000km on it...about 40,000 are track miles. Had the RMS leak and that's about it. Be vigilant with servicing, oil changes, inspections etc. Read up on this forum about potential issues and know what they look like before they become real problems (IMS issue for example).
I'm a car dealer and have bought several cars from the US in recent years. It's pretty easy. Keep in mind that you will have to pay both taxes (federal and provincial) plus a 6% duty on top of it.
There are lots of US cars already in Canada that can be bought if you don't want to go through the trouble.
If you get a US car, you will have to bring it to the dealer to have it inspected and get the DRL's going (a simple ECU programing that takes 15min but they charge you $500) and they document the car as now being in Canada etc. Take a few days to get the papers...actually it took me 2 weeks last time but I blame the dealer more than PCNA.
Also, there are places to get parts far cheaper than the dealer so look around. if you are in Montreal, PM me and I can help out.
Good luck!
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