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Old 10-21-2008, 06:19 PM   #1
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Question PLEASE HELP!!! Need to take the next step

I am a Porsche fanatic and I've been a member on these forums for a couple of months now and have spent all my time learning as much as I could about owning a boxster. I am 20yrs old and an undergrad working full time and I make 25k a year that will greatly increase after I graduate. I know I could afford an older model boxster including all the upkeep but have decided to wait and just get my Porsche when I can afford a new one. I would rather get an "older" porsche model such as a 928, 944, or 968 that would still be fun and that I could also practice with making mods and such.

Any suggestions on what model/year to get and what type of mods are acceptable for an older car? Members with older cars and experience please help me out?

Thanks in advance!!!!

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Old 10-21-2008, 06:38 PM   #2
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A couple things first... How much money do you want to spend and how much can you afford?? Cash outright? Monthly pymnts.?

Making $25k/yr. is great as an undergrad... unless you spend $26k

Boxsters are expensive to keep, even though their purchase prices are temptingly low.

928s are fairly cheap, the car is reliable... but parts are still $$$.

944s are cheap, fairly reliable but difficult to find nice ones not needing parts - also $$$.

914s are creeping up in price, esp. good examples. Less complex and parts are less expensive, maybe only $$.

How are you going to use it? How long do you plan to keep it? How 'perfect' do you want it and/or are willing to make it? All these things will effect your decision.

Reflect on these things and the current (and maybe future) economy. Given your situation, is a reliable Toyota or Honda a better choice right now? Starting a 'car fund' to give you a nice 'graduation present' once you are finished school and have a good outlook at your future? I'm not saying... these are things only you can decide.
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Old 10-21-2008, 10:07 PM   #3
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agreed with lil bastard. Im finishing up my last year of school at the moment as well, and I do make a little bit of money on my own but its not much (6-8k a year). I purchased the car with money that I made, but if I didn't have my parents to help out with repairs the car would be sitting in the garage right now instead of being at school with me.

As for older porsche, its my experience that they need more attention than the newer ones and the parts are also expensive. But who wouldn't want to have an older Porsche (I convinced my brother to buy an '87 911 and he hasn't regretted it at all even with the high maintenance costs).

I say wait until your done with school, save up as much $ as possible and get the best thing you can once you have a solid job.
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Old 10-22-2008, 08:39 AM   #4
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You ommited the 911. They are a bit more to get into on the front end, but in the long haul, they are very cheep to keep up with. I can't imagine not having one in my stable.
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Old 10-22-2008, 08:56 PM   #5
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Personally I see a few 944's and 928's where I live. They seem relatively common and are often for sale on corner lots or in the paper for about $4,000 or so. Given that, I would lean more towards the 968. I don't know, I just think the 944 and 928 look a bit boring while the 968, while still very similar, has a better ass end and better overall looks. That's probably the most expensive option, but the way I would lean.

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Old 10-23-2008, 04:19 AM   #6
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Well, I can chime in here ... I just finished undergrad and am into masters work right now. If you pull in a decent wage you just have to be smart about where your money is going and what your goals are ...

My first car was an '85 944 and boy was it expensive to keep up despite the low purchase price. I mean, it was a solid enough example and the engine didn't blow or anything ... but man was it finnicky. My mechanic became a family friend thanks to that car (which, I guess was a benefit in the long haul). But honestly, it has no airbags and things are constantly rattling/squeaking/wearing out/breaking. Did I love it? Absolutely. It was a fun first car no doubt, but eventually it just had to go.

I picked up the box for pretty cheap during senior year and even had a CPO (certified pre-owned) warranty for one year after purchase that helped keep my mind at ease. Knowing that I have a $10k engine that can let go at any time I am currently trying to pick up another car as a backup/beater. You never know right? More money in the pocket certainly helps the service costs though.

So my advice would be to get a reliable car with 4 doors and some trunk space for now. Save the $ on gas and insurance (if you pay your own) .... Keep the backup, and save $ on the side with a "Porsche fund" that you can tap into as soon as you're ready. You will also be able to better decide if you want an "S" model, 986/987, etc. In the meantime try your best not to get into an accident and/or get a speeding ticket.

Best of luck with your decision.
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Old 10-23-2008, 07:49 AM   #7
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I've owned Porsches since '82, about a year after I got my EE degree and started working. If I had one thing that I could do over again, it would be to have kept with owning cheap, low maintenance, reliable cars for the first 10 years after I started working instead of owning a Porsche right away. Even the cheapest Porsche is expensive to own, even if you do the work yourself. Every dollar you save when you're young has a tremendous amount more potential leverage than a dollar you save later. Had I gone the route of cheaper cars, I'd have been in a position later to own a heck of a lot nicer car (and house) when I could really afford it.

Caveat - if cars are all you care about, then you've got to do what you've got to do. Guys I know who were like that structured their careers to be in the car industry so that they could feed their obsession.
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Old 10-23-2008, 08:08 AM   #8
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if you are still in school, not earning "big bucks" I honestly would NOT recommend you buying a used Porsche.

get a reliable car that will get you around. unless you have parents/family who are willing to support you - or maybe they are already giving you money?

when you get out of school and HAVE the job - then look into a porsche.
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Old 10-23-2008, 08:51 AM   #9
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My first Porsche was a 914. It was pretty inexpensive but required a lot of maintenance. If you go for an older car and want to save some money, you better be prepared to do a lot of work yourself. Having to take it to the shop is going to cost some money. The 914 wasn’t complicated to work on. It was just very cramped in that engine compartment and most work was done from the bottom. If you have a third elbow, you shouldn’t have a problem working on a 914.

I bought my Boxster as a promotion gift to myself. My salary increase rolled right over into the car payment. It is probably a good idea to wait till you get that job after graduation. It is not wise to spend money on the prospect of future earnings.
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Old 10-23-2008, 08:56 AM   #10
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Oscaronv, let me give you a different perspective.

Do you have a garage? What about insurance expenses?

I say buy a more pratical car, wait on the Porsche, and invest as much as you can in the Stock Market.

Great job being a full time student and employee! Never easy. Keep up the hard work. You will be rewarded in the future!
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Old 10-23-2008, 09:09 AM   #11
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I'd advise you to wait a bit.

Affording your monthly payment is far from the only expense of owning a Porsche. Consider that you need to fill it with 91+ octane gas. Keep in mind that if you have a dealer change the oil, that usually costs $200, and you'll need to do that at least once a year. Tires are not cheap. If you go with the sticky tires, you'll get maybe a year or two out of them, and will probably cost over $500 to replace a set.

I put higher treadwear rated tires on my car in early 2007, and probably have another year or two out of them... but my water pump took a dump on me ($120 for the part, installed myself. +$35 for a belt.). Had to get a wheel fixed ($140) after a full alignment and wheel balance ($180). I need a new battery ($60 min, I'm going for an Optima - $165). I replaced the top on it last year, did most of the work myself ($750 for the top, $165 for final fitting by a reputable upholstery shop).


SO... you can see, you will have to pay for a lot more than gas and your monthly note.

I'd suggest you wait until you secure a higher income, then see what you can afford. There will be plenty of Boxsters waiting for you!
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Old 10-23-2008, 09:22 AM   #12
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Quote:
Originally Posted by bmussatti
Great job being a full time student and employee! Never easy. Keep up the hard work. You will be rewarded in the future!
+2!!
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Old 10-23-2008, 11:31 AM   #13
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Like most of the forum members, I agree that you should wait until you are in a financial position to afford the maintenance that will be neccesary if you purchase an older model porsche. Honestly, if you have to worry about finding the money to repair your car, you are just not going to enjoy it.

In terms of which model to purchase, of course get the boxster. Used 911's seem to be the most reliable older model. I had a 1985 928S a few years ago. I loved the car, but what a piece of sh--t! I could have leased a new Boxster for the money I put into this car each month. Stay away from 928's. They are very expensive to keep and drink gas like a large SUV.

We live in a society of immediate gratification. There's nothing wrong with saving your money and living within your means. That is unless you listen to Obama. He'll tell you that you can have anything you want!

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Old 10-23-2008, 12:26 PM   #14
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Save until you can buy at least a Porsche Certified Used car with the 100k warranty. It is worth much, much more than you realize, at this point in time.
I can say,"If I were you......" but there's no way I can be, but here's my two more cents.
Pay cash for a Civic, or similar, that gets you at least 35 mpg commuting. Doesn't really matter how old, if it's a civic or toyota, of some kind, they are cheap and easy to fix. Put what you WOULD be spending on ANY Porsche in the bank and let it draw interest until you have enough to pay CASH for at least a late model Porsche with certification. If, at that time, you are willing to part with that hard earned, saved and fought for money for ANY car, give up, you're a gear head like the rest of us!
On the flip side of the sense coin is the reallity that it looks like this moron from Chicago is going to be president, and if he keeps his word about Gore and the greenie bull****************, none of us may have many years to enjoy our sports cars.
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Old 10-29-2008, 04:30 PM   #15
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Thank you for all your replys. I guess I should have also mentioned that I currently drive an 02 Cavalier. Based on all the advice I'll just keep this and save until I am really ready to take on a Porsche

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