How can you afford a Porsche?
05-02-2002, 04:30 PM
#91
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On thinking about it, ownership is almost unique in that most people largely think of Porsches as being exclusive and beyond reach. This reputation obviously has to do with new model pricing, yet ownership of carefully selected older models can be amazingly economical. The one thing about Porsches is that they are well built, and built to last. Provided they are properly maintained will be on the road for many years. Added to this, the ageless styling means that a 20 year old 911 has the grace and appeal of the newer models. Compare that to a 20 year old Toyota!
In general I'd say the following... For someone on a limited budget and getting in a P-car go for a well looked after 944, normally aspirated. The water cooled's have never held their value, so what was a $50K car in 1989 is today going for $4K. Pick it carefully, make sure it has a proper maintenance history. On the other end of the scale I believe it is better to lease a new 911 than buy one. To me it's better to hang onto your hard earned net worth. It's a car, and will depreciate. At least after 3 years with a lease you will still have your $100K. The return on the $100K should pay for the monthly lease just about.
Just my 2 cents...
(Owner of an '89 944, rock solid)
(Prior owner of an '89 928 S4 - not a good choice for the cash conscious)
(Sitting here scratching my head about leasing a 996 C4, bad boy <img src="graemlins/nono.gif" border="0" alt="[nono]" /> )
In general I'd say the following... For someone on a limited budget and getting in a P-car go for a well looked after 944, normally aspirated. The water cooled's have never held their value, so what was a $50K car in 1989 is today going for $4K. Pick it carefully, make sure it has a proper maintenance history. On the other end of the scale I believe it is better to lease a new 911 than buy one. To me it's better to hang onto your hard earned net worth. It's a car, and will depreciate. At least after 3 years with a lease you will still have your $100K. The return on the $100K should pay for the monthly lease just about.
Just my 2 cents...
(Owner of an '89 944, rock solid)
(Prior owner of an '89 928 S4 - not a good choice for the cash conscious)
(Sitting here scratching my head about leasing a 996 C4, bad boy <img src="graemlins/nono.gif" border="0" alt="[nono]" /> )
05-12-2002, 06:09 PM
#92
I'm going to come at this with a different tack.
I'm 38 and just purchased my first Porsche. It is really and truly my dream car and I worked very hard to be in a position to buy this car. I could have bought the same car new 7 years ago, but decided to put money into my business instead. Well, that cash worked well for me, and although it wasn't the only money that I invested in the business, I've now been retired for a year and have the time to drive my car any time and any where I please. Prior to that, I was too busy to enjoy the car as much as I do now.
So, in contrast to many others on this thread, I tend to be in the camp of "all good things come to those who wait". Part of the enjoyment of Porsche ownership is doing the research beforehand, learning the history of the cars, and dreaming. True, you could get hit tomorrow by a Mack truck crossing the street, but odds are, you won't. Work your *** off, focus on your career, buy a house, pay it off, become debt-free and put some money aside for a rainy day. After that, go buy your dream car. Sure you could buy a 944 for a song and service it yourself. But in my opinion, the headaches of ownership (and potential high costs of insurance, parts, etc.) will not only distract you from advancing your career, it will take money away that, through the miracle of compound interest and your young age, be otherwise invested. You won't be sorry. Just one man's opinion.
I'm 38 and just purchased my first Porsche. It is really and truly my dream car and I worked very hard to be in a position to buy this car. I could have bought the same car new 7 years ago, but decided to put money into my business instead. Well, that cash worked well for me, and although it wasn't the only money that I invested in the business, I've now been retired for a year and have the time to drive my car any time and any where I please. Prior to that, I was too busy to enjoy the car as much as I do now.
So, in contrast to many others on this thread, I tend to be in the camp of "all good things come to those who wait". Part of the enjoyment of Porsche ownership is doing the research beforehand, learning the history of the cars, and dreaming. True, you could get hit tomorrow by a Mack truck crossing the street, but odds are, you won't. Work your *** off, focus on your career, buy a house, pay it off, become debt-free and put some money aside for a rainy day. After that, go buy your dream car. Sure you could buy a 944 for a song and service it yourself. But in my opinion, the headaches of ownership (and potential high costs of insurance, parts, etc.) will not only distract you from advancing your career, it will take money away that, through the miracle of compound interest and your young age, be otherwise invested. You won't be sorry. Just one man's opinion.
05-13-2002, 01:43 PM
#93
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I'm 26 and I picked up my first '97 993C2S yesterday. And they say crime doesn't pay!!!!
Seriously though. It is all about priorities....I've always wanted a 993..so what if its worth about 1/4 of my house?
Seriously though. It is all about priorities....I've always wanted a 993..so what if its worth about 1/4 of my house?
07-16-2002, 01:46 PM
#94
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downpayments???phhhhh
cash is where it's at....
my advice to you is: learn how to play blackjack very well, learn how to use it to hustle casinos....it's got me a nice 6 figure income and i'm only 19....(of course most of those 6 figures are going into my super custom 911 this year)
cash is where it's at....
my advice to you is: learn how to play blackjack very well, learn how to use it to hustle casinos....it's got me a nice 6 figure income and i'm only 19....(of course most of those 6 figures are going into my super custom 911 this year)
07-16-2002, 10:49 PM
#96
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.
100X the money, AND free time and still miserable. Either they are doing something illegal or immormal or they are just plain STUPID!!
What a waste
100X the money, AND free time and still miserable. Either they are doing something illegal or immormal or they are just plain STUPID!!
What a waste
07-17-2002, 03:59 AM
#97
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[quote]Originally posted by j959:
<strong>my advice to you is: learn how to play blackjack very well, learn how to use it to hustle casinos....it's got me a nice 6 figure income and i'm only 19....(of course most of those 6 figures are going into my super custom 911 this year) </strong><hr></blockquote>
What system do you use for Blackjack? I learned the KO system earlier this year and spent a few days in Vegas working with it. I ended up about even, and learned some critical things necessary for success that were not listed in the book. As it is, it looks like I need to learn the APC system to get enough of an advantage to make it profitable.
Also, where do you play blackjack? I've heard that in most countries outside of the US, card counters are treated as cheaters (criminals).
<strong>my advice to you is: learn how to play blackjack very well, learn how to use it to hustle casinos....it's got me a nice 6 figure income and i'm only 19....(of course most of those 6 figures are going into my super custom 911 this year)
</strong><hr></blockquote>What system do you use for Blackjack? I learned the KO system earlier this year and spent a few days in Vegas working with it. I ended up about even, and learned some critical things necessary for success that were not listed in the book. As it is, it looks like I need to learn the APC system to get enough of an advantage to make it profitable.
Also, where do you play blackjack? I've heard that in most countries outside of the US, card counters are treated as cheaters (criminals).
07-17-2002, 06:27 AM
#98
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1Rage
FC-Racer and others are right... you cannot put your dreams off while you make plans to get them. In fact, I think John Lennon said something similar to that way before I did.
In 1995 I was struck with Acute Promyelocytic Leukemia (APML). I went through Chemo, you name it. But I'm here today because I realised one simple thing: You either go out and get it, or watch others go get it. Some spectate, some participate. Be a player, any player, at any game. Your choice. Just make one, and then play hard, play to win, play fair.
Money will follow that. Not the other way around.
Good luck!
FC-Racer and others are right... you cannot put your dreams off while you make plans to get them. In fact, I think John Lennon said something similar to that way before I did.
In 1995 I was struck with Acute Promyelocytic Leukemia (APML). I went through Chemo, you name it. But I'm here today because I realised one simple thing: You either go out and get it, or watch others go get it. Some spectate, some participate. Be a player, any player, at any game. Your choice. Just make one, and then play hard, play to win, play fair.
Money will follow that. Not the other way around.
Good luck!
07-18-2002, 06:57 AM
#100
Burning Brakes
I got the rich B****rd speech forom a colleague at work for having a Porsche but in a short discussion it came to light that he had paid more for his new SKODA Kombi than I had paid for my 10 year old Porsche. <img src="graemlins/crying.gif" border="0" alt="[crying]" />
As was said in previous mails....you make your priorities. The risk is in the running costs. If your Porsche needs repairs they will cost more than the Skoda.
Answer: minimise the risk by getting someone who knows to check the car and don't shortcut on maintaining the car. It will be cheaper in the long run.
As was said in previous mails....you make your priorities. The risk is in the running costs. If your Porsche needs repairs they will cost more than the Skoda.
Answer: minimise the risk by getting someone who knows to check the car and don't shortcut on maintaining the car. It will be cheaper in the long run.
07-18-2002, 04:45 PM
#101
Start cheap, work your way up.
8 years ago My first Porsche was 75 914, a $2400 crapper (jack-up-the-pan to put the roof back on type crapper), drove for 2 years, sold it for $2000 and bought the 83 944 for $4000. 4 years later, sold the 944 for $3700 and bought a 912 for $7500. 2 years later, sold that for $8500 and bought my "mint" 84 Carrera for $12000.
All-in these cars were nearly free to enjoy, certainly under $1000/year all-in with parts and repairs.
Compare that to the cost of a lesser car which will depreciate and the "used" Porsche is a value.
So much for the guy in the $20k Honda which is only worth half as much in just a few years, he lost money in that deal....
8 years ago My first Porsche was 75 914, a $2400 crapper (jack-up-the-pan to put the roof back on type crapper), drove for 2 years, sold it for $2000 and bought the 83 944 for $4000. 4 years later, sold the 944 for $3700 and bought a 912 for $7500. 2 years later, sold that for $8500 and bought my "mint" 84 Carrera for $12000.
All-in these cars were nearly free to enjoy, certainly under $1000/year all-in with parts and repairs.
Compare that to the cost of a lesser car which will depreciate and the "used" Porsche is a value.
So much for the guy in the $20k Honda which is only worth half as much in just a few years, he lost money in that deal....
07-25-2002, 08:51 PM
#102
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Here's one for you all.
This morning I was in the office talking with one of my colleagues who has a Suberu Impreza and a really nice little Austin-Healey Frog-eye Sprite that he has recently restored. We were talking about general car things when he asked me innocently how the Porsche was running. Immediately another colleague span round and asked me outright and loudly 'You own a Porsche, how can you afford to own a Porsche?'
'Easy' I replied, 'I haven't got a wife anymore, she divorced me.'
That soon shut him up.
ciao 4 now
Leslie
This morning I was in the office talking with one of my colleagues who has a Suberu Impreza and a really nice little Austin-Healey Frog-eye Sprite that he has recently restored. We were talking about general car things when he asked me innocently how the Porsche was running. Immediately another colleague span round and asked me outright and loudly 'You own a Porsche, how can you afford to own a Porsche?'
'Easy' I replied, 'I haven't got a wife anymore, she divorced me.'
That soon shut him up.
ciao 4 now
Leslie
07-26-2002, 01:53 AM
#103
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Wow, my situation MUST be unique!
My Father bought the '56 when it and I were 7 years old. This car was one of the first cars I learned to drive in, I was sitting in my dad's lap "driving" the car, starting when I was 8 years old. For my 10th B-day, dad and I drove to the top of the Angeles Nat'l Forest Hywy., ( in SoCal, BTW ) camped up there ( had a few Rangers keeping an eye on us and our campfire!!!!), and woke up to a sea of clouds below us, when we got back down into civilization, it was fog.
This was the only Porsche I ever REALLY wanted, Dad never sold the car, and now I have inherited it.
Over the years, I have seen many of the models of Porsche, all are unique, all have their followers. I was into the hi-perf detroit iron, and was thrilled to learn of the 928, never thinking to own one. Last year, I mentioned this appreciation of this car to my wif, and she ends up buying me one!!! 69,591 miles on the clock when we flew to Miami to pick it up, there are now 82,900 miles on the clock now, the rack was leaking and one of the tie-rod ends was failing, bought all four tie-rods and the rack, about $500, replaced the front pads, bought the front aluminum belly pan and a used rear belly pan from Devek ($275 + $97.50, the originals weren't on the car), as well as a batch of maintenance items for a total of @ $1250, water pump, T-belt and other maintenance items from 928 Specialists for @ $450, and there are spare maintenance parts on the shelf, waiting for their turn. The radio had to be replaced, but because of a tip from this list, I found a terrific deal for $117.
Priorities? you bet.
Nose to the grindstone? I had my turn!
Wife? Yeah, she likes rocks and gold, but we are STILL having fun! She is my first one, and hopefully, the only one. Sorry for you folks who have had to go through the big "D"!
Dreams? Oh yeah, had those, they've come and gone.
House is @ 2300 sq. ft., I do not make anywhere near 100k!
We often go out to eat.
I'll be typing up the list of my toys under a thread in the 928 list soon.... Some of you folks make a HECK of a lot more than I do!!! This assortment was the work of a couple of decades of accumulation!
<img src="graemlins/a_smil17.gif" border="0" alt="[blabla]" /> <img src="graemlins/burnout.gif" border="0" alt="[burnout]" />
My Father bought the '56 when it and I were 7 years old. This car was one of the first cars I learned to drive in, I was sitting in my dad's lap "driving" the car, starting when I was 8 years old. For my 10th B-day, dad and I drove to the top of the Angeles Nat'l Forest Hywy., ( in SoCal, BTW ) camped up there ( had a few Rangers keeping an eye on us and our campfire!!!!), and woke up to a sea of clouds below us, when we got back down into civilization, it was fog.
This was the only Porsche I ever REALLY wanted, Dad never sold the car, and now I have inherited it.
Over the years, I have seen many of the models of Porsche, all are unique, all have their followers. I was into the hi-perf detroit iron, and was thrilled to learn of the 928, never thinking to own one. Last year, I mentioned this appreciation of this car to my wif, and she ends up buying me one!!! 69,591 miles on the clock when we flew to Miami to pick it up, there are now 82,900 miles on the clock now, the rack was leaking and one of the tie-rod ends was failing, bought all four tie-rods and the rack, about $500, replaced the front pads, bought the front aluminum belly pan and a used rear belly pan from Devek ($275 + $97.50, the originals weren't on the car), as well as a batch of maintenance items for a total of @ $1250, water pump, T-belt and other maintenance items from 928 Specialists for @ $450, and there are spare maintenance parts on the shelf, waiting for their turn. The radio had to be replaced, but because of a tip from this list, I found a terrific deal for $117.
Priorities? you bet.
Nose to the grindstone? I had my turn!
Wife? Yeah, she likes rocks and gold, but we are STILL having fun! She is my first one, and hopefully, the only one. Sorry for you folks who have had to go through the big "D"!
Dreams? Oh yeah, had those, they've come and gone.
House is @ 2300 sq. ft., I do not make anywhere near 100k!
We often go out to eat.
I'll be typing up the list of my toys under a thread in the 928 list soon.... Some of you folks make a HECK of a lot more than I do!!! This assortment was the work of a couple of decades of accumulation!
<img src="graemlins/a_smil17.gif" border="0" alt="[blabla]" /> <img src="graemlins/burnout.gif" border="0" alt="[burnout]" />
07-26-2002, 09:15 AM
#104
Burning Brakes
Hey, there is one point most people seem to forget in this discussion...
You're only talking about a marginal cost to run a Porsche if you're going to run a car anyway.
Do the calculation to compare the lease/maintaince on a new Volvo/Toyota/pick-up or whatever your "sensible" choice would be and compare this with the running costs of a 944 or an 911.
Then decide you're going to use the car for everyday transport. Porsches become expensive if they are Sunday toys and you are forced to run another car.
Hell, rent the pick-up for the weekend when you need it Most cars cover most of their miles unloaded with only the driver in the car.
Nike are right: "just do it"
You're only talking about a marginal cost to run a Porsche if you're going to run a car anyway.
Do the calculation to compare the lease/maintaince on a new Volvo/Toyota/pick-up or whatever your "sensible" choice would be and compare this with the running costs of a 944 or an 911.
Then decide you're going to use the car for everyday transport. Porsches become expensive if they are Sunday toys and you are forced to run another car.
Hell, rent the pick-up for the weekend when you need it Most cars cover most of their miles unloaded with only the driver in the car.
Nike are right: "just do it"
07-28-2002, 11:57 AM
#105
1. cut your own hair.
2. give up golf( which would you rather do?)
3. learn some basic machanical skill- if you don't have them already.
4. Don't spend any money on clothes that are not for work. ie clothes that don't make you money.
etc.
Focus your resources on things you truly enjoy and cull out those things you do to impress others or that you are supposed to like but really don't.
2. give up golf( which would you rather do?)
3. learn some basic machanical skill- if you don't have them already.
4. Don't spend any money on clothes that are not for work. ie clothes that don't make you money.
etc.
Focus your resources on things you truly enjoy and cull out those things you do to impress others or that you are supposed to like but really don't.
