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Edmunds TCO estimates a 2005-2006 ish Boxster (can't remember what year the numbers I have are for) should cost about $123/month in maintenance, and $180/month in repairs, on average, over 5 years at 15k miles a year.
Basically I have about $850/month to play with for my transportation needs. This needs to include car payment, maintenance, insurance, repairs, gas, etc.
Do you think I can afford this car?
I figure in the fall (when convertible season is ending), I can find a 2006 or so 2.7 model (maybe even an S if I'm lucky) for about $25000. I have a $5000 or so car that I will sell, so I will need a loan for about $25k. (Is it hard to get 5 year financing for a used car of that age?)
The monthly breakdown is as follows (assume 15k miles a year, 2005-2006 987 Boxster 2.7, 4 year car loan at 6%):
$470 car payment
$120 insurance
$165 gas
If my budget is $850/month for a car, that leaves me only $95/month for car repairs and maintenance.
However, if I could get a 5 year used car loan, then my car payment would only be $387/month, and that would afford me about $178/month in maintenance and repair costs.
Maybe I should just stick to a late model Miata or something? I had one before. It certainly won't turn as many heads as a Boxster, but I think it's at least 90% as fun as a Boxster, and much cheaper to own and operate.
I had a 944 for a few months. And it was a blast. But I sold it because I got really scared of the transmission going out (among other problems).
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