That sounds like the loss of 26k over 2yrs. Pretty much the same as the loss from depreciation.

 

Definately NOT a 1%er. It has taken me 8 years to cobble together over 6 figures. Thought I was going to buy an F430 or Gallardo, but the thought of pitching away 40, 50k over 5 years just made me stop and think.

Now I'm looking at older, already depreciated stuff. Yes, higher maintenance bills but I don't mind that as much as depreciation.

And the pricing of Porsches these days is just insane. A decently loaded Turbo really should be $100k, not $170k.

 

Interesting discussion, but all these costs pale in comparison to the amortized expense of trading in a spouse....not that I know.

Of course the carrying costs are not insignificant either.

 

I was quoted on a special Porsche lease on a 128K car with 14K off- 1400 per month plus fees for 27 months.
Equals 37800 for a little over 2 years!!!!!!!!!! Residual was 95K.
Only 5k miles per year!!!!

 

That works out to $16,800/year. Not chump change but not as crazy as the $32K it costs me to own a Bentley. Maybe I should get my head examined.

 

That's a lot of money to rent a car for two years and not be able to drive it much.

 

Dear lord, that is a terrible deal. I hope you didn't go for it.

 

Making sense of the financials is always subjective and ultimately it's up to the individual to determine good or bad or money down the drain. For me spending money on a hobby (which the Porsche is) is an investment in myself and a huge motivator to be creative, productive, and useful.

 

Well said... Totally agree.

 

Loosing at least $50k on a first year of depreciation is common in other part of the world.
Considered yourself lucky being able to drive one at such a very low price, especially in USA.

 

First, I take to heart that the current administration will be gone in no more than a little over two years.

Secondly, virtually ANY automobile is nothing more than a high-priced "consumable" product. I don't care what tier automobile we are discussing. That may make us petrolheads wince a bit, but it's the truth all the same.
Furthermore, even carefully investing in collector's cars you can hedge your bet but there is no guarantee you won't lose $ let alone make a profit on resale. Things happen.

Having said that, if one is financially able to be a player in the tier 1 class ( and Porsche) or greater, you have to make up your own mind "is it worth it"?
Take comfort that a well-cared-for-911 takes less of a beating annually than say, a Bentley product, in depreciation in the first 3-5 years.

 

I appreciate that you are frustrated but I believe that the subject is Porsche not Obama, Bush, Clinton, Bush, Reagan, Carter, Ford, or Nixon (only one of which could even be considered to be remotely car associated).

We're talkin cars here not politics and frankly if you're drivin a 911 your finances couldn't be that bad

Please let's keep this a politically free zone.

By the way, I am a rabid partisan and have a strong antipathy for "the other side" but I'm not going to vent my feelings here

 

^What he said.

 

I think cars in general hold there value really well in the US compared to Europe. In Europe a car is considered to be amazing if it holds more than 50% of its value after 3 years. Boxsters were always amongst some of the best at 55% residual value after 3 years. In US for Porsche's it is 5 or 6 years before you are approaching that level.

 

We all have our own definition of happiness. I work hard, own my business and focus on making a ton of money so that I don't have to worry about the cost. I reward myself by being able to track these Porsches and enjoy the "smile per mile" that they provide me. At the end of the day, I made a choice that made me happy and at the same time motivated me to make more money. win-win!