Danno

Uhh, prices have dropped quite a bit over the last two years. All the real-estate agents are getting into multi-level tele-marketing! Median pricing is about $100k lower than that...

Quick everyone! Buy a house in S.B., prices are down!

Dan

Danno,
Last update from the SBRA in Jan. 02 had the median at $554k and change. I sure hope the market has dropped as much as you suggest or there goes my plans of a refi for a new Porsche. Also are yo a local PCA member? Let me know your thoughts om that. Email me directly if you dont want to post that info.

stupenal

i think priorities are very important. To me, I dreamed about the 944 for over a year. I worked my butt off (still working manual labor lifting boxes) while trying to save as much as possible. However, I realized that why should i put my money into a car, when I can just invest it? But then I thought, "Hey, i worked my butt off. I DESERVE to be rewarded by buying the 944" And there went the investment idea. Life is short! Give it all you got!

As for whether or not I can afford a Porsche....I make a little above minimum wage lifting boxes daily while completing high school (UCLA next year! yay!). I've managed to save up my money to buy the 944....but I CAN't afford the car! Sure, the car is cheap and all, but the idea of forking over around 1k per year just for maintenance, along with no job cuz of college soon, means I really cant afford to buy one.

But then again, I come from a very frugal family which is not into cars. My parents drive a camry and a quest. Rather, they spend there money on property. Property is the true measure of wealth, by the way. Its not the cars. And for those in Santa barbera thinking real estate is really expensive, come check out Palos Verdes Estates.

Oh yah, if anyone knows of someone selling a 1995 Nissan 240sx SE with a 5spd, feel free to email me. If I can't afford the porsche, why not buy the japanese copy cat?

Magown

[quote]Originally posted by stupenal:
<strong>Property is the true measure of wealth, by the way. Its not the cars. And for those in Santa barbera thinking real estate is really expensive.....</strong><hr></blockquote>

Stupenal, even though you have decided that you would rather enjoy life. (I have tried that route) It is fun. But what's even more enjoyable is when you park your money in assets instead of buying toys (liabilities). If you buy the right assets it can be like a gift that keeps on giving, which can then buy you the toys.

I have been in your shoes, and a 944 can literally wipe out a person with very little to no income. When I was in high school I couldn't concentrate in class because I was to busy thinking about all the mods I could do to a 951. It took me 2 years, of really wanting a 951, to pull it off. If you really want a 944, keep brain storming and think out of the box. There are creative ways to get nice stuff.

Also, I like to think that "wealth" as you peak of is really measured in time, not money. Kind of like, how long can you afford to stay afloat with out working. If you are collecting rent off that property, and to be wealthy you need to be able to live comfortably as long as you like. Having enough money in rental income to pay all your expenses, would make you wealthy per the definition I use.

If I were you, instead of blowing your money on a toy, I would try to buy in on a deal with your parents and let the deal pay for your toy.

Good Luck if you believe it can happen then it can happen,

Palting

How to afford a Porsche?

It's easy. Sell your house, your clothes, anything of value. Sell your children, you can always make more later. Make your wife walk the streets. She always wanted to go out, right? When you get the Porsche, it will all be worthwhile <img src="graemlins/bigok.gif" border="0" alt="[thumbsup]" />

Jim Sloves

Instead of selling your children en toto, it's more profitable to harvest the organs and sell them on the black market.

Danno

"Also, I like to think that "wealth" as you peak of is really measured in time, not money. Kind of like, how long can you afford to stay afloat with out working."
That's right (a fellow Kiyosaki fan I see...)! Another way to look at it is, "how many hours per week do you have to work to maintain your lifestyle"?

Jim Sloves

Interesting.

<img src="graemlins/yltype.gif" border="0" alt="[typing]" /> If we're going to get philosophical then I'll get tangential. My older 10 year old son asked me if we're rich. I know what he meant but I re-directed his line of thinking. If we allow that rich and wealth are similar:

I told him that we are rich. We are rich because we have our health, careers that we enjoy, careers that help people and the improve the world to some degree, an intact family and a happy family. Money can't buy this. We can work harder to make more money or spend less to have more money.

I know a few folks that have 10-100x (literally) more money than me, more free time, and aren't very happy. I don't consider them as having rich lives.

But they sure do have nice toys! <img src="graemlins/jumper.gif" border="0" alt="[jumper]" />

stupenal

I gave a thought to trying to bargain with my parents and having them sort of "reward" me for say, if I did well in school or something to that effect. And then I thought, "i'd just be like every other kid who's driving a 3 series bimmer these days." One of the reasons I wanted the 944 was the fact that it was just so original and a classic, european car. I'd rather put my hard earned money into the car. That is why I really can't afford to see myself spending gobs of money on a toy, just to keep it running.

You could look at it as a hobby, sort of, something that would bring me fun and pleasure if I did some mechanical work myself and save some money. But then comes up the issue of space and time. No garage space, and college stuff to worry about. Thus, priorities come first in that college and education, then hobby and leisure.

So, hopefully in another say 7 years, there will still be pristine 944s out there. Save me a couple!

BOX 99R

a couple of rules in life
1 the harder i work the luckier i get
2life is not a test drive
3life is like a **** sandwich ,the more bread u have the less **** u have to eat
4if u dont look to the future and dream u will only ever look back

Stuttgart

If you want to make money while you're young, don't look where everyone else your age looks for money. I'm 19 and have had summer jobs since i was 14. This past summer i got a job as a car salesman. If you are good with people and like cars give it a try. No other job rewards you more for working hard than sales does. To give you an idea of the money you can make, I plan on buying an nice early 911 with the money i make this summer (that is if the market gets a little better and people are buying cars). Look for jobs adults would apply for, not teenagers.

1RAGE

Thanks everyone! So many ideas! Well I better get busy now.

<img src="graemlins/beerchug.gif" border="0" alt="[cheers]" />

BahnRokt

It all depends for what your aiming for. I'm a college student right now, I work 20-26 hours a week changing oil at Jiffy Lube. My and my roomates cook for ourselves, my parents are nice enough to pick up tuition. I take home around $200 a week. About half that goes out the window for beer and other misc crap, the other half goes toward my car(s).

I could easily sell my current car for a few Gs and hold a payment up on a $20k Porsche, which I probably will this summer or try to put some boost on the audi . My roomates brother just got out of ROTC and is stationed down south. He lives on base, has ZERO to pay for each month and he makes about $40k a year. He just bought a gray market Nissian Skyline and a R1 motorcycle.

As far as our friend with the benz: Keep the car as basic trans for a while as long as it runs ok. Anything your going to buy for the $1k you have in the bank probably wont run and you'll need to dump alot of work into it. Save up a few grand, get a job at the mall or something. Your first car doesnt need to be a Porsche. While people are quick to point out that you can die tomorrow, chances are you wont and you have plenty of time to enjoy yourself in the future...thats why we go to college right? Save a few bucks maybe buy something simpler like a VW GTI. A 88-92 GTI 16v is a tad faster than a n/a 944 in the straight line and also handles well, although not on a 944 level. Not to mention a good example can be had for less than $2.5k and they are cheep(compaired to a Porsche) to fix and run. I built up a 91 GTI 16v from 138hp to 174hp last year. Damn fun car to drive and beat on, though the 8,000 rpm redline was a bit much for the poor engine

Phil

Yep,
Car sales!.....I got into it about , well almost 20yrs ago! very very easy!, good money, long hours(oh well) I have a couple of "former" stock brokers, who sell cars for me!...they love the freedom!....

Bri Bro

How to afford a Porsche...shop around, wait for a good deal, fix it yourself.