looking to own a boxster S

[Perfectlap]

Originally Posted by mustang2porsche

Basically need a great daily driver for college and a great track car for the summer. .

Sorry. I would not recommend Boxster ownership to someone in college unless they also happened to be an excellent stock investor or trader on the side. You don't want to be all hat no cattle as they say in TX.

Case in point, I could have easily been able to own a Porsche in college but I quickly realized I would p1ssing away the time value of money that would have otherwise gone into the car. That means 10 year's worth of growth invested in companies like Apple, Genentech and Intel. Also, a Boxster or Carrera is a car that you have to have $5-10K liquid ready to go cash (ie parked money doing nothing for you) in the event of major repairs that often come in waves. And of course this is on top of $10K real life emergency cash fund. Obviously this a free country and you can do whatever you like with your money. But I would think twice about making the same mistake that every other young adult makes while it's the rare young person that defers instant gratification in the name of having a large investment portfolio within their first 10 years of working. <--- This will pay huge dividends during the course of the next 20 years of working. Boxster is a nice car but not worth giving up that once in a life time oppourtunity. You only have that 'time advantage of money' once in your life. The longer your money stays invested the more it will grow.

[smshirk]

Originally Posted by mustang2porsche

well i did forget to mention it was a purpose built convertible, but i see the convertible part an added charm, but even without it, it would be purpose built none the less. i thought of a carrera, but i heard that it is a bit harder to control on a track which i might see about 3- 6 times a year, and occasional "spirited" driving. just feels like a boxster is right and the initial cost for a boxster is cheaper than a carrera ( in my general area). personally i also think the boxster looks better than a carrera, but that's personal preference. i'm still wondering if i can "drive" the car harder than what most do on the back roads.

If you get one with traction control you can't hardly let it get away from you. If you don't have it, it's like anything else, you have to be able t drive and know when to keep your foot in it and steer out of trouble. I've had both. I prefer to have traction control but my 3.6 Boxster has no nannies, other that anti lock brakes.

[mustang2porsche]

Originally Posted by Perfectlap

Sorry. I would not recommend Boxster ownership to someone in college unless they also happened to be an excellent stock investor or trader on the side. You don't want to be all hat no cattle as they say in TX.

Case in point, I could have easily been able to own a Porsche in college but I quickly realized I would p1ssing away the time value of money that would have otherwise gone into the car. That means 10 year's worth of growth invested in companies like Apple, Genentech and Intel. Also, a Boxster or Carrera is a car that you have to have $5-10K liquid ready to go cash (ie parked money doing nothing for you) in the event of major repairs that often come in waves. And of course this is on top of $10K real life emergency cash fund. Obviously this a free country and you can do whatever you like with your money. But I would think twice about making the same mistake that every other young adult makes while it's the rare young person that defers instant gratification in the name of having a large investment portfolio within their first 10 years of working. <--- This will pay huge dividends during the course of the next 20 years of working. Boxster is a nice car but not worth giving up that once in a life time oppourtunity. You only have that 'time advantage of money' once in your life. The longer your money stays invested the more it will grow.

Already considered that. Would be dumb to blow all my funds on a car, that's why I would like to stay with the 986 boxster. Already poured about 5k into the mustang, if that's any sign I would have to have 3x as much ready for the porsche. Did a few research for the car and I know what I'm getting into as far as "if" something were to break. Being in college as no affect on my finances as tuition exemption and all other scholarships/grants are more than enough. With that said, I feel I deserve a better car due to my hard work both education wise and financially. if i couldn't afford the boxster i wouldn't consider it at all, just saying. also my mindset is different from yours but similar, as in i love to save money until i get to the goal of spending what i saved on something i waited so long for, two years ago i wanted a vette, hated and kept saving, last year wanted a 2013 mustang GT, didn't like the driving feel, didn't finance it, the last 6 months, been wanting a boxster and i been looking into it and next spring plan on buying one. so instead of saving my money to invest in... i don't know what. i will just spend it on a upgrade of a vehicle.

Originally Posted by smshirk

If you get one with traction control you can't hardly let it get away from you. If you don't have it, it's like anything else, you have to be able t drive and know when to keep your foot in it and steer out of trouble. I've had both. I prefer to have traction control but my 3.6 Boxster has no nannies, other that anti lock brakes.

also i hate traction control, pulled the fuse on my mustang because it didn't like me sliding when i wanted to, and pressing a button was getting annoying.

[Perfectlap]

Originally Posted by mustang2porsche

Being in college as no affect on my finances as tuition exemption and all other scholarships/grants are more than enough..

All the more reason NOT to put money into a Porsche or BMW or Merc or an Audi.

My point is not that you are in college and dealing with education expenses. Not at all. It is a very different point, that you have a huge luxury that most will never see:
the investor self-made millionaire 'two-for". What is that? Simple. 1) being in a position to be able to accept a higher level of investment risk because you are young, and 2) having the cold cash to act on it. You have both of these at your disposal now.

Large fortunes have been thrown out, never to be reclaimed, because those who could have taken advantage of both these things chose not to. The biggest mistake we make in educating young people today is that we do not teach people what can be done with money as investment. They only learn what it can do as consumption. And the next biggest mistake, and equally criminal, is that we allow young people to think that they need a large pile of money to begin the process of turning it into a mountain of money. Quiet the opposite, even if later in life you came by hefty sums of money, you could only replicate what you could have had as a young investor if you achieved an usually unattainable level of performance in your investments. Financially speaking, time is by far the most valuable asset you have now.

[mustang2porsche]

what your saying is invest my money instead of spending it... and i'm not that young. 23 is an experienced youngster... didn't think of getting a life lesson vs "hey this car kicks ass" as i expected. still, they don't teach investing in college, they teach pointless things like jazz, judo, and reading & critical thinking, plus alot more useless electives.

[jacabean]

I say buy the car if it makes you happy , if you can wrench on it. having something that you really like when your young is much better than having it when your old . even if you have tons of cash when your old , it is not as much fun and you could die before then . I see lots of old timers who worked and saved there whole lives and then realize they are to old to enjoy what they worked so hard for . then they die or go into some home and their kids pilfer everything they worked for .

[mustang2porsche]

Originally Posted by jacabean

I say buy the car if it makes you happy , if you can wrench on it. having something that you really like when your young is much better than having it when your old . even if you have tons of cash when your old , it is not as much fun and you could die before then . I see lots of old timers who worked and saved there whole lives and then realize they are to old to enjoy what they worked so hard for . then they die or go into some home and their kids pilfer everything they worked for .

i told my friend/roommate that (who's an accountant) and would call me a dumb for even considering this car, he wants to buy his "first" sports car in his 30s, i have a sports coupe at 19 and working on a roadster at 23, next see if i can get a GT before 30 and a supercar before 40. but that's just a dream.

[Perfectlap]

Originally Posted by mustang2porsche

what your saying is invest my money instead of spending it... and i'm not that young. 23 is an experienced youngster... didn't think of getting a life lesson vs "hey this car kicks ass" as i expected. still, they don't teach investing in college, they teach pointless things like jazz, judo, and reading & critical thinking, plus alot more useless electives.

Being 23 is a fetus in investment years.

I was not taught in about investing in college either. Well sort of, I had an econ professor who basically ignored the syllabus and told us about the stocks he lost money on and those he made money on. Half the class paid absolutely no attention to any of it, they were too busy dreaming about 5.0 Mustangs or Acura NSX's.
Those of who did pay attention ran with it. See no one is ever going to teach you what you need to know to become financially wealthy. NEVER. They want you working for them, either the bank wants you owing them, or your boss wants you making just barely enough to never quit. But today you have this miracle invention that I never had called Wikipedia. What used to take me weeks, months if not years to figure out by asking in person, over the phone, digging through out-dated books, newspapers and magazines can now be learned/profited from in a matter of a few clicks - in real time. I would have been making six figures in highschool... probably spending it too. but at least the frontal lobe can rescue you by 25 so you stop being foolishly impulsive.

Here's an example. Tesla motors was trading at $30 last year. It recently went to $150. Your tax bill for selling that stake a year later? 15%. The commission you pay to the broker? As little as $5. -- As in you keep just about all of it. It's not about making that particular trade, its about understanding how it happened in the first place. These are things that everyone who ever wants to stop working for the bank or a boss who thinks they are expendable must learn but few ever do.

[mustang2porsche]

Originally Posted by Perfectlap

Being 23 is a fetus in investment years.

I was not taught in about investing in college either. Well sort of, I had an econ professor who basically ignored the syllabus and told us about the stocks he lost money on and those he made money on. Half the class paid absolutely no attention to any of it, they were too busy dreaming about 5.0 Mustangs or Acura NSX's.
Those of who did pay attention ran with it. See no one is ever going to teach you what you need to know to become financially wealthy. NEVER. They want you working for them, either the bank wants you owing them, or your boss wants you making just barely enough to never quit. But today you have this miracle invention that I never had called Wikipedia. What used to take me weeks, months if not years to figure out by asking in person, over the phone, digging through newsapers and magazines can now be learned/profited from in a matter of a few clicks. I would have been making six figures in highschool... probably spending it too but at least the frontal lobe can rescue you by 25.

Here's an example. Tesla motors was trading at $30 last year. It recently went to $150. Your tax bill for selling that stake a year later? 15%. The commission you pay to the broker? As little as $5. -- As in you keep just about all of it. It's not about making that particular trade, its about understanding how it happened in the first place.

hmmm so, i should say.... buy some of fords stock, and hopefully when the 2015 mustang releases and succeeds, pull out with a profit.

[Perfectlap]

Originally Posted by mustang2porsche

hmmm so, i should say.... buy some of fords stock, and hopefully when the 2015 mustang releases and succeeds, pull out with a profit.

nope. It means keeping your cash in cash. And not spending it on something that is only going to lead to more spending. In the interim learn the very basics of investing. Investing for dummies, read about Warren Buffett, go to wikipedia, talk to a friend whose in the investment business, just get started in some way. Stop talking to only young people who only care about Range Rovers and iPhones.

Don't invest a dime until you've covered that ground. And even then don't make any big moves. Then learn the difference between investing and trading(gambling/speculation). Buy 1 share here 1 share there. 1 ETF here 1 ETF there. Learn about the process. There is no "plan" for learngin to become wealthy from investment while young and avoiding consumption. It's the sum total of all your efforts.

^That there is more than enough to keep you busy. Remember when it comes to handling your money, you always want to be the smartest person in your group of friends, not the most conspicuous spender.

[Highlow]

Originally Posted by mustang2porsche

what your saying is invest my money instead of spending it... and i'm not that young. 23 is an experienced youngster... didn't think of getting a life lesson vs "hey this car kicks ass" as i expected. still, they don't teach investing in college, they teach pointless things like jazz, judo, and reading & critical thinking, plus alot more useless electives.

I can't speak for you personally because I don't know your financial situation, but I bought my boxster at 18 and have been in school since (22 now). No issues relating to school, no scratches, vandalism, etc.

I haven't once regretted it.

[mustang2porsche]

Originally Posted by Perfectlap

nope. It means keeping your cash in cash. And not spending it on something that is only going to lead to more spending. In the interim learn the very basics of investing. Investing for dummies, read about Warren Buffett, go to wikipedia, talk to a friend whose in the investment business, just get started in some way. Stop talking to only young people who only care about Range Rovers and iPhones.

Don't invest a dime until you've covered that ground. Then learn the difference between investing and trading(gambling/speculation). That there is more than enough to keep you busy. Remember when it comes to handling your money, you always want to be the smartest person in your group of friends, not the most conspicuous spender.

actually i have cheap ass friends who drive hondas and mazdas with flip phones, on the other hand i have the sports coupe/ pony car and a cousin with a s2000 and soon a carrera ( once he comes back from Ft benning). though i do prefer to have my money work for me, but until i find out how to make it work, then i might as well spend some, not all. also range rovers are overrated just like iphones. suburbans and samsung S4s is where it's at. shoot after i get my bachelors i would prefer to open my own car dealership which seems to be a good gamble, but everyone needs used/ new cars.

Originally Posted by Highlow

I can't speak for you personally because I don't know your financial situation, but I bought my boxster at 18 and have been in school since (22 now). No issues relating to school, no scratches, vandalism, etc.

I haven't once regretted it.

i did the stupid thing and spent too much money with my fellow soldiers on alcohol, food, and girls, came home only with enough money for a low mileage v6 mustang or a high mileage GT, took the v6 and been beating myself for buying it, and recently learn to love it knowing that mustangs can suprisingly handle. not great, but good enough to stay on a similar year miata... with a few upgrades.

[recycledsixtie]

Well Perfectlap you do have a point. I see both sides. I never started saving/investing money until I was 40 yo. I bought secondhand sports cars when I was in my 20's. Some were junk, some not so much. My first P car the Boxster I bought in my 60s'. No regrets because I did not want to be faced with big repair bills earlier in life associated with high end cars like the Porsche.

Each person has to find their comfort level in terms of how much they want to risk in terms of a major failure of their car. I won't get so upset in my stage of life if I have an Ims failure(but have the Ims Guardian installed). If I was 20 yo I likely would just park it until I had the cash together to get it running. I do not believe in car loans but that is just me. Every time I go to the indy shop I spend a $1k a visit. I cringe, my wife cringes but that for me is the price of admission. You do have a valid point Perfectlap about investing early but that was never in my mind at age 20! Each person has to make their own decision and find what they are comfortable with.....

[mustang2porsche]

just looked up e IMS guardian, is it simple to install or get installed. also any other info because i think the only concern i have about getting a boxster is the IMS failure.

[recycledsixtie]

Originally Posted by mustang2porsche

just looked up e IMS guardian, is it simple to install or get installed. also any other info because i think the only concern i have about getting a boxster is the IMS failure.

I had it installed including the unit cost for $1k. You can buy the unit for around $400 or less and install it yourself. Mind you we pay more for everything up here . It was of a big concern for me as well. I sleep easier because of it and I do not like installing parts until they break. Many would disagree with my philosophy on the latter....

[mustang2porsche]

Originally Posted by recycledsixtie

I had it installed including the unit cost for $1k. You can buy the unit for around $400 or less and install it yourself. Mind you we pay more for everything up here . It was of a big concern for me as well. I sleep easier because of it and I do not like installing parts until they break. Many would disagree with my philosophy on the latter....

saw it on the LN engineering website for 131.00 problem is finding someone in my area to work on a porsche. and your not the only one who believes in installing parts until they break.

[black_box]

I wouldn't worry about doing anything IMS-related off the bat..... Chances are pretty slim that it will actually break. Wait til it needs a clutch, then get in there if you must.

Also, be aware of which cars are covered by the IMS class action settlement, it could be helpful in your buying decision.

It's your money dude, but I see a lot of dying boxsters for sale cheap because someone bought them without really understanding the upkeep costs and got caught by a wave of issues that wound up crippling the car.

Miata's on the other hand, will be more fun on the track and on the road if you stay legal (because you can actually drive them at 10/10ths), cost 1/4 as much to buy and even less to maintain with all the parts available.

[Perfectlap]

Originally Posted by black_box

Miata's on the other hand, will be more fun on the track and on the road if you stay legal (because you can actually drive them at 10/10ths), cost 1/4 as much to buy and even less to maintain with all the parts available.

Exactly what I ended up buying when I first gave serious though to buying a Porsche. For the grand sum of what my Boxster Fabspeed exhaust alone runs I instead bought a Miata project that cost peanuts to upgrade and maintain. Hmm... whole car that is a fixture at track days and autocross or an exhaust minus the whole car? Tough choice. But difference was I didn't need to drive my toy car every day. Had that been the case I probably would have gone with an older Japanese car. Some of those like the Civic Si and MR2 are very reliable and make for capable autocross/track cars with better crash-worthyness than the Miata. If I were in that position today, I'd probably go with an S2000. Most mechanics can work on them, they don't have complicated preventative maintenace like a Boxster, they're a fairly rare car and with that type of engine, it can run for decent fuel economy in normal traffic.

[mustang2porsche]

Originally Posted by black_box

I wouldn't worry about doing anything IMS-related off the bat..... Chances are pretty slim that it will actually break. Wait til it needs a clutch, then get in there if you must.

Also, be aware of which cars are covered by the IMS class action settlement, it could be helpful in your buying decision.

It's your money dude, but I see a lot of dying boxsters for sale cheap because someone bought them without really understanding the upkeep costs and got caught by a wave of issues that wound up crippling the car.

Miata's on the other hand, will be more fun on the track and on the road if you stay legal (because you can actually drive them at 10/10ths), cost 1/4 as much to buy and even less to maintain with all the parts available.

actually i haven't seen that many cheap boxsters, most are dealership certified or owned by someone who garage kept them and only drove them on the weeked (mostly the S). i would consider a miata or a civic Si but everyone in my area has them. an S2000 on the other hand is OK, but i prefer to avoid being a copycat. also considered a Z3/4 but they lack a truck space, and getting called for mobilization or deployments, i would need some kind of truck for my bags and gear.

[boxslrr]

If its not evident or hasn't been mentioned yet, hold off on your purchase a few months. Roadster prices should tend to go down in the winter when they cannot be driven with the top down. I'm not sure the price difference but you might be able to score a good deal on an even later year car for what you'd pay for an 05 now in the fall.

And speaking of winter driving, buying the Hardtop is never a bad idea -- it transform the car for the winter.