Wow, I'm so glad I joined this site. What a great community, I really appreciate the opinions and detailed feedback from everyone. It really puts a realistic perspective on what I've just been pipe dreaming for the last 2 years. At least at this point I know I getting a few steps closer to my goal.

I don't have money just falling out of my rear axle , but I also don't live on a shoestring budget strapped between paychecks. My wife and I live very comfortably and do pretty much whatever we want, whenever we want (read: dual income, no kids). Part of my hesitation is I'm not willing to take on a $1200-1500+ per month payment on a car, used, new or leased no matter how fantastic the machine. I feel it's just throwing money away that I could use to invest, save, pay down other bills (wife's car) or put towards retirement. Can I afford that kind of payment, yes... Will my wife let me, nope ...

One of the reasons my wife and I live the way we do is we take a realistic approach to all our expenditures and work as a team to keep our 'checks and balances' in check... I would like to to stay close to $500 a month, and my upper limit is $650, but that also includes not wanting to just drop $25K cash to make it fit my payment scheme. I've expanded my criteria by $10K looking for the $45K and under range. I am figuring on dropping around $10K cash on it to make the payments work if needed. I know this is what I like to call a 'stretch goal' and will be a bit of a challenge, but I don't feel i'm being unrealistic any longer.

I've heard the stories about the $300 oil changes, but it's like every 10K miles. Which for me would be once a year as I drive maybe 5-8K miles annually. Actually drove less than 3K last year (my office is less than 3 miles from home, and I work out of my home 4 days a week & weekends). Oh and the $1500-2500 services every 30,000+ miles I can accept and do expect it to be less as my track days are about nil... I may take her to a track to stretch the legs but once a year shouldn't over burden the expense.

As far as getting into and maintaining a 997 I feel much better I knowing where I'm headed with everyone's advice. Now, I need advice on how not to get screwed on the purchase... I know everyone feels that CPO is a 'set it and forget it' comfort zone... but ... if a CPO isn't an option, what are some of the trouble zones, common issues, things people/dealers like to try and hide when purchasing a pre-owned 997?

Again I can't thank you guys enough for all the advice thus far!
-Jason

 

With your budget, you will be looking at older, higher mileage 997s. If you cannot afford a CPO, a few hundred dollars spent on a PPI would be money well spent. A good mechanic will know what problems to look for and will probably end up saving you money by avoiding a disaster and end up buying you some peace of mind.
I like other posters recommendations of looking at a Boxster/Cayman- you'll have more selection. I was in a similar situation/budget a few years ago and was looking at those. A few years later I could afford a 997, but if I didn't have a kid, I'd still consider those. Some of the sacrifices we make for our kids.
And if it has to be a 997, you may want to wait until the 991 comes out at the end of the year.

 

I'd say the only advice about problems worth getting is a recommendation of the best mechanic in your area to provide a Pre-Purchase Inspection (PPI). We can give you lots of information about options and even color choices, but to be honest the internet tends to exaggerate 'problems' because they give us all something to talk about, even when the hypothetical 'problem' is one that's never been recorded on a P-car. (Sorry, guys, but it's true.)

I would recommend getting hold of the local PCA region. It they are like the ones out here, they'll have a monthly breakfast meeting somewhere nearby. Call the contact number you can find at http://pca.org/Regions/RegionDirectory.aspx?Zone=2 after looking up your region within the zone. Explain you're a soon-to-be Porsche owner looking for advice. Ask if you can attend a breakfast meeting and get acquainted. They will welcome you. You might be in Zone 3, but if so you can follow the link to that zone instead.

What you want most right now is a lead to somebody who knows somebody who is the best Porsche mechanic in the zone and is used to doing PPI's for first-time Porsche owners.

Another benefit of being acquainted with the local region members is getting tips to good cars that might be for sale. A friend of mine got his 2002 996 that way. It belonged to the region's most obsessed concours entrant who was finally making the leap to... I've forgotten. A GT3 I think or maybe just a 997 with the full aero package. But the point is that Gino bought a car known to be a pampered princess with an engine bay (and everything else) cleaner than the tables we eat from at the monthly breakfast. He's had no mechanical problems except a dead battery when he didn't drive it for several months, and his only appearance problems are being kidded about letting dust show on his brake calipers when he comes to events. (Some one probably will tell us, but I swear these serious concours entrants remove and replace the wheels when they get to an event so they can dust and polish the visible components.)

Gino might have paid a couple of thousand extra to get a car known to be that clean in all respects, but he considers it worth it and so would I. Despite being a deep geek, when we bought from a dealer, the best information I could dig up on our car's first owner was his town, his dealer, and the guy who does his teeth. (Well, okay, I stopped before bothering with that much detail. Wouldn't want to be intrusive.)

Meet your local Porsche people. You won't regret it.

Gary

 

Since this is your first foray into the 911 model, I’d highly recommend getting a CPO from a reputable dealer and at a minimum get a PPI before you buy. At least you have some recourse should something go wrong 1000+ miles later. I understand the budget is tight, but it’s worth the little extra coin to have that peace of mind. Consider it a “stretch goal.”

As for financing, I agree with you, $1200-1500 for a car payment is painful for most budgets especially if you have another car payment on top of that. My recommendation “oh, first timer” is to pay off your wife’s car first, save up $20-25k cash as a down payment and finance the rest. That should work out to a reasonable payment over 3-5 years.

 

Jason---I'm in Richmond as well. I know you're interested in the Cabs but if you'd like to take a closer look at the Coupe ( might be closer to your price point ) let me know and I'll take you for a spin. I'm tight with the guys at the local dealer, Euroclassics, who could offer guidance too.

No need for a $300 oil change. We can knock it out in 45 minutes for under a C-Note. No big deal.

kdurg@aol.com

Best,
Keith