What can I get with $20-25k Cad?
02-21-2010, 02:08 PM
#46
Rennlist Member
"you never know when you will crash it" ... what are you doing? sure someone may hit you but these cars are probably some of the safest cars to drive...if you are driving in control. DE can help wih this.
as far as repairs it is a good idea to have some reserve $ for service. paticularly if IMS goes, RMS I believe is only about $1500 btw.
drive safe.
as far as repairs it is a good idea to have some reserve $ for service. paticularly if IMS goes, RMS I believe is only about $1500 btw.
drive safe.
02-21-2010, 03:15 PM
#47
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I didn't said it was'nt safe. I said you never know what can happen and damage can occur very quickly and no one want to drive a porsche with some tie-raps holding the bumper :P
02-21-2010, 03:31 PM
#48
Drifting
Good call! Number 7 always comes at the end no? haha..
I'd be embarrassed to bring girls back to my parent's house in a Porsche. Different priorities I guess... 
02-21-2010, 10:28 PM
#52
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Thanks everyone.
Actually, my first thought about what to do with my money was to buy a house/apartment and rent it out. It will be positive cashflow but I realize that I only get to live once. The benefit of purchasing a property using $20k downpayment cannot triumph the feeling and excitement of owning a Porsche young.
Speaking in economist's term, the utility of owning a Porsche now is a lot higher than the $1000-2000 annual cashflow I might be generating from my investment.
The cashflow that is generated by $25k is immaterial and the joy of this $25k is significant.
On the other hand, If I have $100k, then investing in properties will be a much wiser decision than dumping it in a 911.
Actually, my first thought about what to do with my money was to buy a house/apartment and rent it out. It will be positive cashflow but I realize that I only get to live once. The benefit of purchasing a property using $20k downpayment cannot triumph the feeling and excitement of owning a Porsche young.
Speaking in economist's term, the utility of owning a Porsche now is a lot higher than the $1000-2000 annual cashflow I might be generating from my investment.
The cashflow that is generated by $25k is immaterial and the joy of this $25k is significant.
On the other hand, If I have $100k, then investing in properties will be a much wiser decision than dumping it in a 911.
02-22-2010, 10:26 AM
#54
Three Wheelin'
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Thanks everyone.
Actually, my first thought about what to do with my money was to buy a house/apartment and rent it out. It will be positive cashflow but I realize that I only get to live once. The benefit of purchasing a property using $20k downpayment cannot triumph the feeling and excitement of owning a Porsche young.
Speaking in economist's term, the utility of owning a Porsche now is a lot higher than the $1000-2000 annual cashflow I might be generating from my investment.
The cashflow that is generated by $25k is immaterial and the joy of this $25k is significant.
On the other hand, If I have $100k, then investing in properties will be a much wiser decision than dumping it in a 911.
Actually, my first thought about what to do with my money was to buy a house/apartment and rent it out. It will be positive cashflow but I realize that I only get to live once. The benefit of purchasing a property using $20k downpayment cannot triumph the feeling and excitement of owning a Porsche young.
Speaking in economist's term, the utility of owning a Porsche now is a lot higher than the $1000-2000 annual cashflow I might be generating from my investment.
The cashflow that is generated by $25k is immaterial and the joy of this $25k is significant.
On the other hand, If I have $100k, then investing in properties will be a much wiser decision than dumping it in a 911.
02-22-2010, 10:32 AM
#55
Reading this reminds me of being in my 20s. I had several friends who bought 944s, 924s even a 928. They owned them for a year max. I remember a 944 sitting in my friend's driveway for 2 months while he saved to replace a water pump.
Me on the other hand, I drove a brand new Prelude. Awesome car. My Porsche owning buddies and I went everywhere in it.
Me on the other hand, I drove a brand new Prelude. Awesome car. My Porsche owning buddies and I went everywhere in it.
02-22-2010, 10:38 AM
#56
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Thanks everyone.
Actually, my first thought about what to do with my money was to buy a house/apartment and rent it out. It will be positive cashflow but I realize that I only get to live once. The benefit of purchasing a property using $20k downpayment cannot triumph the feeling and excitement of owning a Porsche young.
Speaking in economist's term, the utility of owning a Porsche now is a lot higher than the $1000-2000 annual cashflow I might be generating from my investment.
The cashflow that is generated by $25k is immaterial and the joy of this $25k is significant.
On the other hand, If I have $100k, then investing in properties will be a much wiser decision than dumping it in a 911.
Actually, my first thought about what to do with my money was to buy a house/apartment and rent it out. It will be positive cashflow but I realize that I only get to live once. The benefit of purchasing a property using $20k downpayment cannot triumph the feeling and excitement of owning a Porsche young.
Speaking in economist's term, the utility of owning a Porsche now is a lot higher than the $1000-2000 annual cashflow I might be generating from my investment.
The cashflow that is generated by $25k is immaterial and the joy of this $25k is significant.
On the other hand, If I have $100k, then investing in properties will be a much wiser decision than dumping it in a 911.
Owing a Porsche does not generate a great return. The ability to have fun with it does. Is your lifestyle able to leverage the Porsche? Can you do track days? Can you do DE's? Go for weekend romps? Can it easily handle the maintenance (or do your parents know what it takes to upkeep a Porsche)? But those things costs money. You don't want to be car poor or worse, Porsche poor. Buying one to say you have one (to showboat) when you don't have two pennies to rub together afterwards is not going to be a good situation to be in.
You both have very good points, I think it all depend of the money left after it.. I must admit I was very proud to own a porsche at 23, but I had some money to buy a house the same year..
Anyway, whatever you choose, have fun, I think everyone here just want you to be aware that the cost of owning a porsche is way bigger than the buying price tag, and that if you choose to buy one, be sure to have some money left and that your not stuck to eat kraft dinner for the next 5 years :P Because you won't have the same excitement of owning a porsche if your too tight to go out and enjoy life
All this been said, I still recommand you a young boxster over a old carrera
Good luck in your buying and keep us informed
02-22-2010, 11:23 AM
#57
Race Car
Lots of differing philosophies in this thread, and it makes for some interesting reading. I think what most people here agree on is that driving a Porsche to be cool and showboat is truly lame, particularly when you can't afford it. If, on the other hand, you can indeed afford, and its upkeep, and it's something you want more for yourself than your friends, there's not a reason in the world not to buy one.
A cautionary tale: I recently repossessed a 1997 Mercedes S600. The S600 was THE top of the line Mercedes (well, ok, except for a Maclaren!). The MSRP was $133K. It was leased by someone who wanted to be cool to their friends, a wannabe-gangsta. This fool put $2000 cash down and traded in a $3000 car to get this Benz. Then they found out they couldn't afford the payments and the car was repo'd not 6 months into the contract. That dumbass is now out 5 grand and will never get a car loan, because he's got a repo on his record.
This isn't to suggest that you might do something similar,just to illustrate the foolishness of wanting to look cool to your friends.
I'm 34 now, bought my 911 when I was 29, cash outright, not financed. I don't like car payments, especially for toys. Already married, a few years out of grad school, already bought a house, so the big stuff was out of the way, but no kids yet, so none of the associated expenses with that (don't believe what people tell you, kids are expensive!). Best decision I ever made. When I mentioned it to my dad, he said 'what? you're not going to buy a Porsche'. I said, sure, why not? Next thing you know, he bought one too and we're doing track days together. But I couldn't care less what my friends think. I've wanted one of these since I was 9 years old, like that kid in the Porsche commercial looking at the cars in the dealership who asks the salesman for a card and says "I'll be back in 20 years", except there were no dealerships were I grew up. I show up at the track, Sat. GTG's (occasionally!), fun runs, etc. and I've always got the slowest, oldest, and sometimes cheapest Porsche there. Who cares? I love it. It's for me, not for other people.
A cautionary tale: I recently repossessed a 1997 Mercedes S600. The S600 was THE top of the line Mercedes (well, ok, except for a Maclaren!). The MSRP was $133K. It was leased by someone who wanted to be cool to their friends, a wannabe-gangsta. This fool put $2000 cash down and traded in a $3000 car to get this Benz. Then they found out they couldn't afford the payments and the car was repo'd not 6 months into the contract. That dumbass is now out 5 grand and will never get a car loan, because he's got a repo on his record.
This isn't to suggest that you might do something similar,just to illustrate the foolishness of wanting to look cool to your friends.
I'm 34 now, bought my 911 when I was 29, cash outright, not financed. I don't like car payments, especially for toys. Already married, a few years out of grad school, already bought a house, so the big stuff was out of the way, but no kids yet, so none of the associated expenses with that (don't believe what people tell you, kids are expensive!). Best decision I ever made. When I mentioned it to my dad, he said 'what? you're not going to buy a Porsche'. I said, sure, why not? Next thing you know, he bought one too and we're doing track days together. But I couldn't care less what my friends think. I've wanted one of these since I was 9 years old, like that kid in the Porsche commercial looking at the cars in the dealership who asks the salesman for a card and says "I'll be back in 20 years", except there were no dealerships were I grew up. I show up at the track, Sat. GTG's (occasionally!), fun runs, etc. and I've always got the slowest, oldest, and sometimes cheapest Porsche there. Who cares? I love it. It's for me, not for other people.
02-22-2010, 12:02 PM
#58
Three Wheelin'
I'm 34 now, bought my 911 when I was 29, cash outright, not financed. I don't like car payments, especially for toys. Already married, a few years out of grad school, already bought a house, so the big stuff was out of the way, but no kids yet, so none of the associated expenses with that (don't believe what people tell you, kids are expensive!). Best decision I ever made. When I mentioned it to my dad, he said 'what? you're not going to buy a Porsche'. I said, sure, why not? Next thing you know, he bought one too and we're doing track days together. But I couldn't care less what my friends think. I've wanted one of these since I was 9 years old, like that kid in the Porsche commercial looking at the cars in the dealership who asks the salesman for a card and says "I'll be back in 20 years", except there were no dealerships were I grew up. I show up at the track, Sat. GTG's (occasionally!), fun runs, etc. and I've always got the slowest, oldest, and sometimes cheapest Porsche there. Who cares? I love it. It's for me, not for other people.
Some folks have alluded to this above, but I will state it again. If you are living at home in your 20s, move out immediately. Just my opinion. I left home at 18 for university and never looked back, best thing I ever did. You need to get out on your own as soon as possible, into the deep end without the security blanket your parents provide at home will make you work even harder.
02-22-2010, 12:43 PM
#60
Race Car
Heh, pretty close, eh? Though I bought the 911 before our first was born. I can't believe how many people asked me after she was born if I was going to sell it. WTF? Why would I? Hell, in the summer it's our 2nd family car!
Emotional vehicle purchases are ALWAYS a bad idea. I can pinpoint the time that the novely wears off a new car and the reality of car payments for the next 3 or 4 years sets in - it's right around the 6-7 month mark. That's where we see most of our repos. Granted, the novelty might last a little longer with a Porsche.
Though I bought the 911 before our first was born. I can't believe how many people asked me after she was born if I was going to sell it. WTF? Why would I? Hell, in the summer it's our 2nd family car!Emotional vehicle purchases are ALWAYS a bad idea. I can pinpoint the time that the novely wears off a new car and the reality of car payments for the next 3 or 4 years sets in - it's right around the 6-7 month mark. That's where we see most of our repos. Granted, the novelty might last a little longer with a Porsche.