Hi everyone, first time poster here. I'm thinking of becoming a Porsche 911 owner.

This is not an impulse decision, when I was 5 years old, my dad brought me a 80's 911 toy model and it won the #1 spot in my heart since.

I'm thinking of buying a 997 Turbo, it is my favourite model right now but the cheapest one that I have seen in Canada (where I live) is in the high $60's. I'm hoping that I could buy a 2007 model in the mid 60's range. With the weak Canadian dollar, getting one from the US is out of the question.

The problem is, mid $60K is about 1/3 of my life savings. I'm in my early 30s, single and I work in the lucrative investment industry where I make around $100K/year. I am considered underpaid given my experience and education level, so hopefully going forward I'd be able to make a little bit more.

I have always been told that I shouldn't think of buying a depreciating asset like a sports car until I have accumulated enough money, maybe $1 million dollars in savings. This was my train of thoughts too, I drive an old MB CLK coupe which is a hand-me-down from my dad and I had no plans to replace this bullet proof car of mine.

This all changed a few weeks ago after a bottle of cocktail that have triggered an allergic reaction which I didn't know I had. After the cocktail, red hives appeared on my arms and legs, my heart started racing at over 200 beats per minute and my vision went blurry and then went black. I felt my heart was going to stop any second, and all I could think about was that I am going to die and all there is a lot of sh1y that I didn't get to do yet.

Luckily I didn't die, but it made me think: life is too short. I shouldn't wait for what I want to do right now.

Sorry for the long story, but at what point in our career/life did you decide to buy a 911?

I wouldn't mind having a 997S either, but I have read of problems in the 997.1S that would be costly. It sounds like the 997.1TT is the more reliable option. I also prefer the looks of the TT and if I got a S, I would probably bring the car in for a body kit/wing, which will cost money. Thoughts on that?

 

Do it.

 

Do it. I remember when I was in high school and I went to my buddy's house for the first time. His dad had a 996 cup car in the garage. It was love at first sight and I knew from that point that when I "made it" I would buy a porsche 911.
I'm now in my early 30s, with a few kids, but was able to buy the car of my dreams, a 997.2 turbo S. There isn't a night I don't go to bed without looking at in my garage and smiling ear to ear.
Do it, and make more money, especially if you don't have kids.

 

I bought mine when I was 34, kind of the same situation. Found out I was sick and said screw it. Always wanted a black TT, since my friends dad bought his his 930 when we were in grade school. I don't regret it one bit. Just wish I didn't live in Chicago and could drive it a lot more than I do. My advice is just do it.

 

Thanks for the encouragement guys.

You are all driving my dream car, a black TT. But I'd take a grey one too.

 

Go for it. I got mine 3 years ago and paid cash. Make sure it has a cpo...you are likely to spend a bit more, but the 997tt's at 6-7 years old have a number of things that go and it can be costly. My warantee work was near 7k.
So now you have the car...figure on average 3k a year for tires and maintenance. Every 7 years or so you'll probably need to drop the motor for hoses etc. Figure 4k at that point.
It's not a cheap car to run. If you are starting out with a house, family etc, 100k won't take you that far, and you'll need another car too. Add insurance, plates...
I'm pretty sure a 911S is a lot cheaper to maintain than the turbo.

 

I bought my first 911 when my kids were old enough to drive and we had cars for them to drive. I was in my mid 40s at the time. I paid cash for my first 911 and I saved enough for repairs. It was a great decision and I'm glad I did it.

 

A 997TT with CPO is going to push me out of my budget. I probably won't be driving 911 everyday if I own one, only on the weekends and the occasional weeknight, so hopefully fewer things would break. 3K a year for tires and maintenance sounds quite reasonable though. Is that DIY on filter/oil/belts?

 

If a 997T is your dream, do it. Life awakening situations can make this a reality but, understand those around you during this. You don't need the midlife crisis convo in the near future.


Currency can play part in the total value stated.

 

Yes, that's about right. But chances are the car you buy will need a new belt, and probably spark plugs. Figure around 1000 for that.
But seriously, if something goes wrong on the car, the price can go high quickly. So not getting a CPO, is risky in my opinion. My car was perfect, 18k miles, checked out fine but I had a CPO. Over the two years, 7000 in warranty repairs. And this was not anything major. Just the usual stuff that goes at that age. Radiators, horns, stuck turbo actuator, Hydraulic wing ($3000 right there ) cracked ignition coils, the usual stuff.
So if you can set aside 5 to 10k on top of the price you want to pay I'd say go for it. The above things WILL happen. The cars are reliable...but not at the level of a Honda, nor at the same price.

 

Dont put yourself in a bind but I will say this....you work to enjoy life. Planning for retirement is important but so is actually LIVING and enjoying your life.

No man was ever on his death bed wishing that he had another $60k sitting in the bank but there are plenty that think "I wish I would have enjoyed myself more".

 

I would wager that most guys here on the turbo/gt2 forum do not have a million saved.
And if you are making 100K a year and expecting more in the future I would spent more on the car of your dreams today. Don't wait an other minute and start shopping
Go for a low mileage 2009 !!

 

Even if a bad decision financially what's the worst that can happen at the end of the day, sell it and lose a few grand? Meh mate enjoy your life to its fullest today and always, get that 911!

 

Do you own a home? Maybe that's the only thing to consider before purchasing a 911.

 

I agree with you on the looks of the turbo vs the S.

In retrospect I think I would've been happy with any of the porsche models. It's a little easier to have fun on the street with an S because you don't get up to illegal speeds quite as fast as the turbo (it's still fast....don't get me wrong).

Go out and drive an S, 4s, and Turbo and see which one you like best before getting too deep into the decision process. After driving all 3 I liked the 4s the best (when comparing stock to stock). I was expecting to like the turbo hands down but really preferred the N/A motor. I almost bought one but then I found a heavily modified turbo and was hooked again.

As far as for buying a porsche in general.....do it. It's a fantastic car. You won't go wrong with any of the models.