StyleLab

944 p-cars rock in any trim. I have to admit though as I get older the 964 turbo is getting in my head. I'm not quite into the newer stuff as much as with the older stuff. Saw a 964 turbo go for 27k here on the list last year. That is all, carry on...

Nine11

Not older, it's called classic.

Person

Here's the flip side to that story. I left for University at 17, never looked back, and had enough to buy an 87' 951 in 2006 when I was 20. I did it at the time because I could (Paid cash) and knew that I could die the next day. Was it a good investment? Absolutely not, I lost thousands at the end of the day, but I also never had so much fun driving, and got to do so at a very early age. Owned the car for 2 years. I've been working for a couple years now, and I don't think the purchase has set me back too much as I'm debt-free, I have a great well-paying job, and currently saving for a house. I've lived in 2 different provinces since leaving home at some 12 different addresses, and I have no intention of heading home anytime soon. I echo the sentiments of others, independence is a beautiful thing.

nickia

Haha this thread is getting so OT

Anyway, back to topic. If I get a CPO'ed vehicle from US Porsche Dealership, should I be worried about doing PPI and all sorts of checks?

Is it safe just to visually inspect and drive it when buying CPO from Porsche dealer?

I understand that the warranty is transferable to Canada. Should I go to Pfaff or Downtown Porsche for service/warranty? I know few guys at Pfaff but I heard that they give US vehicle a hard-time.

Canuck928

nickia; Purchasing a home with the 25k is the way you should go. Not because of the annual cashflow but because of the equity you will build with the property.After a couple years you can use the equity in the property to secure a line of credit ect and buy the Porsche you want.NOW is the time to buy.I just had a friend buy a property in Orangeville (divorce sale)for 270k 5 months ago and it was just appraised at 305K ! OK i'll shutup now.

Christien

If you go the route of US CPO, I would get something in writing from either Pfaff or DFC that they'll honour the warranty. There seem to be conflicting stories as to how it's been handled.

petee_c

Nickia,

I don't know if there are any CPO vehicles in your price range.... do u have a link?

P

nickia

Hi,

Since I don't have a steady income after this $25k (still in school), the property that I purchase must generate positive cashflow or else I wouldn't be able to cover the mortgage, insurance, taxes, and etc. This limits my selections to apartment and duplexes because the cap rate of single detached is way too low to cover the cash outflow.

Furthermore, since this is an investment property, banks wouldn't be too happy to let me go under 20% in downpayment. This creates an upper limit of $120k. Most duplexes that don't have outrageous condo fees are out of my range. This leaves me with $100k single bedroom condo which charges $400-500/month in condo fee.

Maybe I'm not doing my calculations right but to those who recommend to purchase a property, please specify what kind of investment property that I can purchase for around $100-120k in Southern Ontario with positive cashflow. I'm actually very interested in real estate where I'm in the process of certifying with RECO to get my salesperson license. I just hope that someone with more experience can shred some lights on the best usage of my $25k.

To petee_c,

I didn't find any CPO around 20-25k but I was musing the idea of spending a bit more to buy with confidence.

I've narrowed down my searches to 2003 Boxster S and Non-S. The fair price for a non-S is around $14k-$16k. The S goes for about $2k more.

vipola

I think everyone here was suggesting a property that you would LIVE IN.. :P

Excellent choice, 2003 may bee a little old for a certified, but you may want to take a look into theses two certified boxster 2005:

They both are low millage and certified witch give you a 2 year warranty,
Porsche completely revamped the boxster in 2005, so it would be a great chance to get the newer 987 instead of a 986.. Less classic look but more modern car.

http://www.porscheprestige.com/fr/vo...ail.php?id=524
http://www.porscheprestige.com/fr/vo...ail.php?id=680

I just bought my 2006 Boxster S from there.. and good chance are that they will even deliver the car at yourplace


Here is another Certified one int he very nice carrera white
http://www.lauzonporsche.com/fr/used...spy?id=2624494
And this one is a little more expensive but has almost no millage on it
http://www.lauzonporsche.com/fr/used...spy?id=3084501

Other :

This one is in your pricerange but not certified, I bought my first boxster from Quebourg and I didn't had any problem
http://www.quebourgauto.com/fr/usedc...spy?id=3175213

These other less interesting (in my opinion) at Mark Motors.. I don't know if those one are certified, maybe it's something you can deal with them?


http://markmotorsofottawa.autotrader...af1a14898e.htm
http://markmotorsofottawa.autotrader...3e4bf012b4.htm

Good Luck

petee_c

For a 986(s), 2003 is a decent year.... you get a glass rear window (compared to the plastic of previous years). If you can find a S for 16-18K, I would say go for it. Last year, I bought an 01 Box S for 18KUS, but the deal went through in May, Over the next couple of months as the weather warms up, I'd expect that prices for 'summer toys' will go up a bit.

Just remember the following in your budget. If looking at a US car, remember to add about 25% to the price to get a close to a 'on the road' price - assuming Ontario.

13% GST/PST
6.1% Duty
5-6% for exchange rate.

Plus airfare, (fly out of the closest US town for the best rates on airfare) and maybe $500 extra for RIV fees, permits, safety's etc. That'll leave you with $2000 for tires, misc. maintenance costs etc etc.

P.

PS - have u checked out insurance prices for a Pcar yet?

Nine11

Since it appears you're set on getting a car, I'm just going to say that I find this very interesting. All you have is $25k and you're going to blow it on a Porsche......I'm just saying.

nickia

Thanks. I've budgeted for a $18k car, the landing cost after taxes will be around $25k cad

I checked the insurance and it'll be $30 more than the 1998 Lexus ES300 that I'm driving now.

porsche0nut

Hello Nickia,

I'm 21 years old, my best friend from high school just graduated from university last year and is now working. He just bought a 300k condo in downtown Montreal. His down payment was around 20k, and it's a 45 year mortgage (which is a really long time, but of course, as he can afford to he can make bigger payments and shorten this). Turns out his monthly fees and payments aren't much more than they were when he was renting, so it's an incredibly good investment for him.

My point here is, it's definitely possible for you to look into real estate and not have to settle on something around 120k. Of course, like you say the lack of steady income may be a problem once you've made your down payment. How long do you have left in school?

I can completely understand your position... I don't think there is anybody in the world who wants a Porsche more than myself! However if you want my advice, I would save that 25k you have until you are finished school and have a job, and then move out and buy your own place, something that you can afford based on the cash you have for a down payment and the income you have for the monthly payments. Start setting aside part of your paychecks for your "Porsche fund" and I think before you know it you'll be driving girls back to your own place in your Porsche!

petee_c

Nickia,

Have you considered a sportbike vs a Porsche? They're fast - faster than a Porsche, it fits the 'young, don't want to fit in' image.....

Cheaper capital costs.... slightly more risk... but heck you're young.... your bones will heal..... (j/k)

P

chrenan

45 year mortgage!!! I had no idea such a horrible thing existed.