Quote:
Originally Posted by Eric G
When it comes to Porsche, how many of you are buying new cars of the show room floor verses buying used?
Was it by choice or did cost keep you away from new?
I have owned several over the years and honestly, while having a good job, I could not justify spending 70K or more on a sports car only to see its value drop.
I find the small cost in restoring a car to "like new" gives me both satisfaction in working with my hands and learning the ins and outs of it at a fraction of the cost.
Your thoughts?
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1) My 08 Cayman wasn't a $70K car to begin with, it was $55K to start. I think $55K was too high an asking price for this car, let alone $70K;
2) I bought it new from the snow-covered dealer's lot at the bottom of the car market while the dealer was grossly overstocked and desperate to sell cars. The desperation discount was well into 5 figures and thus the price I paid "new" was less than what I see similar 08 Caymans selling for as used cars today;
3) If you buy the car you want and keep it for 10 years, you don't worry about the drop in value because you bought it new; meanwhile, YOU know your car has had all the proper maintenance and has never been abused;
4) Meanwhile, if something does go wrong, you have the manufacturer to back you up at least for a while. I still have another year that I don't have to worry about my IMS breaking and costing me half or 3/4 the value of the car, and after that I may invest in an extended warranty;
5) Last but not least, due to technology creep, my base Cayman has equivalent power to a Cayman S of just a few years earlier. To try to increase the power of an older Cayman S up to my level, that Cayman S owner would need to invest several thousand in mods that might or might not be successful and might blow up the engine in the process.