Update: Yet another one Drooling and wanting a Porsche

[elgeebeekei10]

Well a year and 3 months have passed and , I still have the Porsche bug am looking into getting a 2005 above model Boxter S. If I get my goal of paying off all my credit cards to zero by Nov of 2012, I will be used to paying $1,000 a month that will be enough for a nice certified one including insurance right? am keeping my fingers crossed and am looking forward to the members of this forum to get me on the right track. Peace and God Speed!!!

[tnoice]

I can truly appreciate the Porsche bug, but I am give only one piece of advice. If you are use to paying $1,000 a month to the Credit Card Companies, chances are other saving methods have suffered. Please make sure you have other savings accounts built up before buying a Porsche. The worst thing that could happen is, you buy one, and a MAJOR repair comes up and you need to rely on the Credit Cards again. Could you finances sustain a $10,000+ repair without relying on Credit Cards?

It is a vicious cycle that has destroyed many people.

[elgeebeekei10]

Originally Posted by tnoice

I can truly appreciate the Porsche bug, but I am give only one piece of advice. If you are use to paying $1,000 a month to the Credit Card Companies, chances are other saving methods have suffered. Please make sure you have other savings accounts built up before buying a Porsche. The worst thing that could happen is, you buy one, and a MAJOR repair comes up and you need to rely on the Credit Cards again. Could you finances sustain a $10,000+ repair without relying on Credit Cards?

It is a vicious cycle that has destroyed many people.

Very Well Said , that is why I am opting for a Certified Vehicle if it does make sense , anyway Porsche cars are for elitists like you which I guess am not one of them.

[tnoice]

Originally Posted by elgeebeekei10

Very Well Said , that is why I am opting for a Certified Vehicle if it does make sense , anyway Porsche cars are for elitists like you which I guess am not one of them.

First, I never said I was an elitist.

Second, anyone can own a Porsche, especially with the depreciated values. I have personally seen people go further in debt even after owning a Nissan that broke prematurely to having their savings rebuilt.

Third, I wish you the best in your shopping for a Porsche. If you do your homework and are fully prepared, it will be a rewarding experience, even coming from a non-elitist. As many will tell you on this forum, if you are not prepared, it will be a miserable experience.

[kls]

Originally Posted by elgeebeekei10

Very Well Said , that is why I am opting for a Certified Vehicle if it does make sense , anyway Porsche cars are for elitists like you which I guess am not one of them.

Did I miss something in tnoice's response that was "elitist"?

[Roosell]

I missed it too. All I see is solid advice on how to prepare for ownership. I assumed the OP was asking for that sort of thing.

I got similar advice before making the plunge, and it proved to be very useful for me. I am glad I had the cash in the bank when my repair bills hit.

[elgeebeekei10]

thanks for the advice, and sorry for the confusion it has caused. As of the elitist remark it just sounded as if the comment was you'll never can afford a porsche bec you cannot afford to pay a 10,000 bill to fix your porche.

[thstone]

When I took my Boxster into my local Porsche dealer for the PPI, the first thing that the service advisor asked was "Are you ready for the costs of maintaining a luxury car?"

I told him that I already had two BMW's and knew that any trip to the dealer was going to cost $400-$700 (or lots more!) and then he laughed, patted me on the shoulder, and said, "Ok, you know what you're getting into!"

Buying a luxury car (any type) isn't elitist but it is expensive and the costs are impossible to predict so you either need to be able to afford the repairs as they come along or be able to save up and have a reserve ready. Of course, doing work yourself can save a bundle but still, even the parts are much more expensive than standard vehicles.

My experience is that a CPO vehicle is break-even - meaning that you're likely to spend about the same $2,000 on repairs during the duration of the warranty that the CPO cost to get. The one thing that the CPO does provide is catastrophic coverage of a total engine failure.

I think that is all that the other posters were trying to say.

[stephen wilson]

One other thought, I bought an 06 CPO a year ago, and the coverage will only carry me 1/2 way thru my 5-year loan. So I'll either be on my own, or have to buy coverage (or another car).

[blue2000s]

I have been an elitist all my life so I figured I had better buy a Porsche to prove it. All those japanese cars I had been driving were just not showing off my mental mindset the way this car does.

[ekam]

I truly believe all Porsche owners have varying levels of OCD.

[elgeebeekei10]

Originally Posted by blue2000s

I have been an elitist all my life so I figured I had better buy a Porsche to prove it. All those japanese cars I had been driving were just not showing off my mental mindset the way this car does.

My oh my!! But How can I afford? a $10,000 payment to fix my Porsche maybe I should go Japanese

[ekam]

Just know that what you're doing is nothing new. Many people have sold their Porsche because they can't afford to keep it due to engine failure/lost of job/nasty divorce/etc etc.

People come and go a lot in the forum.

Roll a dice, life is short.

[Boxsterund914]

I propose that buying a Porsche, or any other "enthusiast" car can never be a totally "right brain" rational decision. It is, rather, an emotional and therefore totally non rational decision. One can, though, be as rational as possible in making a totally emotional decision...... if that makes sense.

If your finances are tight then ask how tight? Can you do the work yourself? If not all the work then can you at least do some? Do you have the space and the tools to do the work? Can you cover your responsibilities while the car is down for the work you need to do on it? Are you resourcefull enough to find out how to diagnose a problem and then find out how to take care of it? Porsche repair shops assume that you have unlimitted means to take care of any problem. You don't want to be the guy walking in saying "Please sir fix my problem, I'm totally clueless". You will pay out the nose!

Make a sound decision as to what car to buy. Make a sound decision as to what your resources are. If you give eveything you have to get it with no "reserves" for repairs...you may be caught in a bad situation. All used cars have some deffered maintenance required..ALL of them! Heck as soon as you put one mile on a car you are only so many miles from an oil change or an engine rebuild...one is just much closer than the other!

I know that everything I have stated is simple common sense but so many get caught up in the emotion of an emotional transaction that they lose focus. A Porsche is not a "point A to point B" appliance like a Toyota or Ford. They cost more to maintain, they just do. It should be no suprise yet it suprises many...go figure!

[lifeisgood]

Just buy the car and enjoy it.

[elgeebeekei10]

Originally Posted by lifeisgood

Just buy the car and enjoy it.

Total Zombie thread , Just got 2013 boxster base 10/19/2012

[Eric G]

So now you are a true elitist and went all the way into the deep end! Post a pic or two, I want to see how the better half lives (snerk: insert sarcasim font for fun)

Seriously would love to see your new toy!

[Ghostrider 310]

Originally Posted by ekam

I truly believe all Porsche owners have varying levels of OCD.

I'd second that and go a bit further, that same "OCD" is what made us successful enough in our chosen professions to enjoy a Porsche. When you work in medicine being consistent about the execution of your duties has a direct effect on patient outcomes. As for "the elitist" whadda ya expect from a guy who lives in Champagne.

[BruceH]

So you beat your goal of paying every thing off by a month! Congrats and yes I am jealous - a 2013! I guess you don't have to worry about repairs for a while. Would love to see pics as well. Where in Texas?

[Deserion]

As the old saying goes, this thread is worthless without pics.