How Rich Should You Be to Own a Porsche?
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Joined: Oct 2013
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From: texas
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I drive a Tacoma, my wife drives a Macan and we drive a 911. she is always catching hell about us being rich, which is far from the truth. I'm 68 with no debts and still work. she is 14 years younger and also works. We live in a modest house(1500 feet) and my only child is grown and on her own. I don't care what anyone else says, I just still enjoy going very fast now and then.
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Joined: Aug 2011
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From: CA
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If you plan on not keeping the car after the warranty, IMO maintenance via dealer wouldn't be a big issue.
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Joined: May 2010
Posts: 1,062
From: Utah
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Our Porsche's, wife's and mine are wants, not needs. We've each had them or another sports car in addition to a DD for about 35 years. We each got Porsche's after we paid cash for out 6 BR 4 car garage "Trophy" home in the mountains. We are not rich, we are debt free, me still working. A Porsche should come when it's associated costs will not negatively impact other areas of your life. Buy less than you can afford, spend less than you earn. Impatience can be the most expensive thing you will experience. I've not paid consumer interest since I can remember.
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Joined: May 2015
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From: San Juan, PR
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AMEN!!
If I may I would like to amend your your post and substitute the word "Porsche' for "ANYTHING". As a debt free retiree I can attest to this wisdom and to the good night's sleep that I get every night.
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Joined: Jan 2016
Posts: 369
From: Campbell River,BC
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Bought a 1986 930 in 1995 for 40K...drove it for 10 years, sold it for 100K, replaced it with a 2004 996 tt x50 cab for 50K and banked the remainder. Driving an investment is more fun than looking at figures on a statement. :-)
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Joined: Feb 2016
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I went from an E46 M3 (that I paid cash for) to the 997 C2S used. My wife was having the hardest time with this purchase. I make a little less than the OP, so selling my M3 and having a car loan for another 25-30k isn't a huge deal. I kept having to remind my wife that a lot of people are very bad with their money (we usually save up and pay cash for most our cars, and if not all of it, at least a 10-20k down payment, we never use credit cards, we both have credit in the 800s and never live beyond our means, if I can't afford to buy a "toy" with cash, we don't buy it) and a lot of people buy a conservative Toyota Camry and will pay as much per month as I would pay for my 911, AND my car will not depreciate nearly as much over the next 5 years as another car.
Being in south OC, she just hates pretentious people, so she loathes the thought of me driving a red 911. I grew up loving cars, my dad always had sports cars, 911s, NSX, M3, AMG cars, etc.... So she knew what she was getting into. I had to also mention how some guys are totally fine spending several hundred bucks a month on Golf, food, travel, BJs, etc....I had to explain that cars are one of my "hobbies" and that it shouldn't be anyone business how I chose to spend money on my hobbies and I never make fun or question my friends that spend a ton of money on golf, etc... Like I said, in the end I won, it is interesting the reaction that my friends give me when they see my car, like I just got a huge promotion or something, yet they drive away in a $65k truck and the wife drives something like a $70k+ denali or escalade or something. Its like they see "porsche" and assume you walked down to a deal and bought a 918 with cash. My 2005 has 26k miles, a warranty til end of 2019 and I only drive it 2 days a week. I sometimes do have to explain to people that I can't afford a new $148k C2s, so I don't like to put a zillion miles on the car (plus it doesn't feel as "special" when I drive it every day). I don't think you need to be "rich" to drive a used 911, but you have to be responsible and smart with your money, and this is probably why we see the age more in the 45-70 range than the 30-50 range of an M3 or 25-40 range you would see in something like a WRX or 350Z. It also helps keep the modding down and less people "screwing up" the looks of the car with ugly mods.
This is a fun topic though, that seems to be recycled a lot.
Being in south OC, she just hates pretentious people, so she loathes the thought of me driving a red 911. I grew up loving cars, my dad always had sports cars, 911s, NSX, M3, AMG cars, etc.... So she knew what she was getting into. I had to also mention how some guys are totally fine spending several hundred bucks a month on Golf, food, travel, BJs, etc....I had to explain that cars are one of my "hobbies" and that it shouldn't be anyone business how I chose to spend money on my hobbies and I never make fun or question my friends that spend a ton of money on golf, etc... Like I said, in the end I won, it is interesting the reaction that my friends give me when they see my car, like I just got a huge promotion or something, yet they drive away in a $65k truck and the wife drives something like a $70k+ denali or escalade or something. Its like they see "porsche" and assume you walked down to a deal and bought a 918 with cash. My 2005 has 26k miles, a warranty til end of 2019 and I only drive it 2 days a week. I sometimes do have to explain to people that I can't afford a new $148k C2s, so I don't like to put a zillion miles on the car (plus it doesn't feel as "special" when I drive it every day). I don't think you need to be "rich" to drive a used 911, but you have to be responsible and smart with your money, and this is probably why we see the age more in the 45-70 range than the 30-50 range of an M3 or 25-40 range you would see in something like a WRX or 350Z. It also helps keep the modding down and less people "screwing up" the looks of the car with ugly mods.
This is a fun topic though, that seems to be recycled a lot.
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