986 Forum - The Community for Porsche Boxster & Cayman Owners - View Single Post - How Old Were You & How Did You Purchase Your First Porsche?

vijen6 · 12-28-2008, 01:28 PM

I'm 26. Got my first Porsche (2000 Boxster S) when I was 23. PAID for also with home equity.

Buying a house wasn't that hard in those days, especially if you had a RE Agent who's doing both sides of the deal and rebating you their entire 6% commission.

Short version .. I waited a bit for some appreciation .. refinanced .. and pulled out about $50K and paid off the car + some other toys. Now even if I lose the house, the car and the toys is still mine, so it is paid off. Yes, more debt, but I'm glad I did it that way, because when the housing market stumbled, all that 'appreciation' that bought my car went to dust. At least I got something from it.

12-28-2008, 01:28 PM	#26
vijen6 Registered User Join Date: Jul 2006 Location: san jose Posts: 225	I'm 26. Got my first Porsche (2000 Boxster S) when I was 23. PAID for also with home equity. Buying a house wasn't that hard in those days, especially if you had a RE Agent who's doing both sides of the deal and rebating you their entire 6% commission. Short version .. I waited a bit for some appreciation .. refinanced .. and pulled out about $50K and paid off the car + some other toys. Now even if I lose the house, the car and the toys is still mine, so it is paid off. Yes, more debt, but I'm glad I did it that way, because when the housing market stumbled, all that 'appreciation' that bought my car went to dust. At least I got something from it.