I need it. I need it now.
 

Hey everyone,

I'm 24, about 2 years out of college. I've been somewhat frugal my entire life, but with an undeniable taste for the finer things in life.

Since getting out of a relationship, moving to a significantly cheaper apartment, and spending $0 on social events because of COVID, I've cut about 3k/month out of my budget since February. This along with being relatively new to California, I figured it would be fun to buy a convertible to drive out to the beach on the weekends. I test drove Mustangs, Miatas, and Z3/4's and thought they were ok, but didn't get too excited.

I have a friend who makes about half my salary who bought a 987 Cayman. I thought he was stupid, assuming he went into debt for it... until he told me how much he spent on it. I test drove a boxster about 3 weeks ago, and I'm absolutely hooked. It is practically all I can think about. It's like discovering what true love really feels like...

Anyways, because I'm a cheapo and am not sure if this is just a phase, I'm looking to spend $10k (after IMS replacement + repairs) on a 986 Boxster with ~100k miles on it. I have a dependable 2012 focus that I'm planning on keeping as my daily driver.

I'm definitely all in on this, but I'm just wondering, how much should I expect to spend on maintenance on this thing? How much will the car depreciate if I'm only driving it 5-10K miles/year?

If you do your own wrenching, which isn't hard, regular service will be dirt cheap and repairs will only cost the parts. That is, ignoring the expense of buying tools, if you don't have any.

If you send it to the dealer you will end up in the poor house pretty quickly. They are eye-watering expensive.

I change the oil and have done all minor repairs on my last few cars. I have tools, but I don’t have a lift. What type of general maintenance can I do without a lift?

Changing oil, brake pads, spark plugs, etc

Congratulations (In advance) - you will NOT regret owning and driving a Boxster. Given your budget, you will probably looking at 2005 or earlier. I highly recommend getting an S - the performance upgrade is well worth any extra $$. I elect to have a very well qualified local independent Porsche shop do all the maintenance. With that approach, typical annual maintenance costs (which my experience supports) should be $2K - $3K. If you do your own wrenching, it should be less than half that; know that Porsche parts are not cheap. I have owned my 2001 S for four years, and major mechanical items have been highly reliable. However, at 15+ years, auxiliary parts tend to wear out - in my case, ignition switch, headlight switch, turn signal switch, window regulator switches, coolant expansion tank. Most could be DIY. If you can find one, I'd also suggest on with a new top with new control cables/gears - with glass rear window. Doing the "Boxster chop" (search this forum) every time you lower the top does get old.

I'm in the same phase of Boxster ownership. I have a 2008 S with a PPI appointment. Owners who posted above said they budget 2-3k annually for professional repairs and maintenance. Read somewhere somebody actually puts 3k a year in a piggy bank and then if the car doesn't need it all the money goes towards the next car. I wondered the same thing but after buying a Mustang GT 2 years ago I bought a Z4 and quickly realized just how much fun a roadster can be. Do your research. I chose 07-08 for very specific reasons.
I suggest rather than being too frugal figure out how much money you can afford to spend (without unrealistic resale expectations) and get the newest car you can comfortably afford. There is a big difference in what you will find between 10k and 20k. And buying a high mileage model may lead to higher costs and lower resale.
GL with the search.

Have you looked at the for-sale section of this forum?
There's a yellow S for sale, well-within your budget, that's a phenomenal bargain. It's a tip though; do you care?