Average/low earners Porsche discussion!

Average/low earners Porsche discussion!

Author
Discussion

Dave Thornton

218 posts

148 months

Saturday 25th October 2014
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richardalanlee said:
Also, I like the advice re: careers. However, don't underestimate the leg up than turning up to the office in a nice car can give you!
So true. I get far more respect now that I have a 911.

xftdr

1,066 posts

203 months

Saturday 25th October 2014
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Well good luck to the OP to start with.

I started with a Boxster on a PCP from Paragon. Low monthlies that I could afford but a big ballon that I could not. After a couple of years I got rid of the PCP with a personal loan and then saw a beautiful 1988 3.2 at a local dealer. I couldn't afford it but for some reason that I still dont know to this day he agreed to a straight swap. So I ended up with a 3.2 911 in white with 68k miles and it was glorious. I kept that for a few years until my wife finally told me that it was pointless have a car in the garage that I did less than 2k miles a year in so I sold it for a profit - broke my heart. 2 weeks later I bought an old 911SC. I sold that for a profit locally and managed to pick up a 993 Tip (perfect for me as I have damaged knees and 993 clutches were never going to work for what turned out to be a bargain. I have it to this day and it has doubled in value.

My point: Bit of luck, close eye on market and ability to get in quick with cash when the opportunity arises. I didn't earn a fortune - maybe £50k then - and it has always been a worry at service and maintenance time but you get through. Now I earn a whole lot less having retried early and service and maintenance is even more worrying but I own the car outright and I have no interest in modern Porsche so its a keeper.

Good luck OP. Be wise and prepared to walk away from deals. But also be prepared to take a bit of risk. You will get there I am sure.

RWD cossie wil

4,295 posts

172 months

Monday 27th October 2014
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Dave Thornton said:
richardalanlee said:
Also, I like the advice re: careers. However, don't underestimate the leg up than turning up to the office in a nice car can give you!
So true. I get far more respect now that I have a 911.
Really? All I get is we must be paying too much scratchchin

Penguinracer

1,593 posts

205 months

Monday 27th October 2014
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I wouldn't discount looking at a 911 SC or a 3.2 Carrera & having a £1000 snotter as a daily driver.

I can see the 911 world falling into two categories:

(1) Air-cooled & Turbo/GT water-cooled;
(2) Everything else.

In terms of market valuation, I predict that the former will continue to distance themselves from the latter.

richneedsacar

Original Poster:

45 posts

119 months

Friday 1st January 2016
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Hey guys!

I was just thinking about this thread and did a search for it; it was great to read all the replies! Crazy I posted this 14 months ago!

Just updating to let you know where I'm at - the Porsche saving has gone as planned but what a few of you guys foresaw happening, has happened! It looks like I'll be buying a house with my girlfriend in the next 6 months.

Now, it's not all bad news, I wasn't totally naive and I've also been putting money away for a house as well (for about 3 years), but really, I feel now I need to put the use both the Porsche savings money and house savings money for said house (that's the sensible thing, right!?). Combined I have 17k saved (which for me is mind blowingly amazing) but yeah, soon it will all be gone on a house!

However there is some good news! My girlfriend is supportive of me buying a Porsche and she says I'm 'allowed' to buy one when I'm 30! However - I fear 30 might have to become 31 realistically.

New plan for the Porsche ...

4-5k from the Cooper S (it's an automatic, that's why the price estimate is a little higher)
2k from selling 2 guitars (hah if you don't like guitars you're probably thinking wtf! hah the right guitars hold their prices like 993s)
6k from new Porsche savings
rest of cash low interest bank loan (I know, I know, hopefully not too big though)


So yeah, just thought I’d update to let you know whilst there's been a derailment of the dream (it’s not a dream, it’s a plan!) it’s still in motion and I haven’t given up! Hah, also as I read through this thread I realised I spelt Boxster wrong every time! In the 14 months I’ve learnt how to spell Boxster correctly. Also my wages have gone up a bit making the dream a bit more manageable, a few quid off 28k now! It's still a 981 of some sort that I ideally want, but if they are still just too expensive and unrealistic, it's a 987.2 Cayman (987.2 Caymans are holding their prices so well though, hah it's sickening!).

Happy New Year!

andy97

4,691 posts

221 months

Friday 1st January 2016
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mollytherocker said:
Dave Thornton said:
Sell the Cooper S now and buy the best Boxster you can afford today! Then you'll have your Porsche now and you can keep saving, since the capital tied up in your current car will diminish at a faster rate than a Boxster.
No way. His 2007 Cooper S will depreciate at no more than 1k a year. The Boxster will be significantly more.
As I have said in the "Poverty Pork" thread, there's a 2.5 Boster for sale near me from a trader at £3.5 k. I'd be tempted to sell he Mini and buy that.

SEE YA

3,522 posts

244 months

Friday 1st January 2016
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andy97 said:
mollytherocker said:
Dave Thornton said:
Sell the Cooper S now and buy the best Boxster you can afford today! Then you'll have your Porsche now and you can keep saving, since the capital tied up in your current car will diminish at a faster rate than a Boxster.
No way. His 2007 Cooper S will depreciate at no more than 1k a year. The Boxster will be significantly more.
As I have said in the "Poverty Pork" thread, there's a 2.5 Boster for sale near me from a trader at £3.5 k. I'd be tempted to sell he Mini and buy that.
Good idea, above comment maybe something to think about?

It took me years to get my dream car, but I never give up on my dream.

edc

9,230 posts

250 months

Friday 1st January 2016
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It's good to have a plan but with most of your £17k savings going on a house deposit I would just get in there and get a 986 or 987 Boxster.

sparta6

3,689 posts

99 months

Friday 1st January 2016
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richneedsacar said:
However there is some good news! My girlfriend is supportive of me buying a Porsche and she says I'm 'allowed' to buy one when I'm 30! However - I fear 30 might have to become 31 realistically.
Good news. But this is always the danger when we buy the GF a pair of trousers for xmas wink
At least you haven't been castrated like some poor sods, and can look forward to driving something that YOU desire when you're 31 smile Happy Days

Edited by sparta6 on Friday 1st January 22:11

gsewell

693 posts

282 months

Saturday 2nd January 2016
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Can't you do something with the help to buy isas from your savings????

NJH

3,021 posts

208 months

Saturday 2nd January 2016
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RWD cossie wil said:
Dave Thornton said:
richardalanlee said:
Also, I like the advice re: careers. However, don't underestimate the leg up than turning up to the office in a nice car can give you!
So true. I get far more respect now that I have a 911.
Really? All I get is we must be paying too much scratchchin
Depends on how old you are and the nature of your job. Pretty much a golden rule for subcontractors is to turn up at client sites in a stty old banger, 20 something graduate though everyone knows won't be earning much. OP I was in the same position as you about 15 years ago, bonkers as it sounds I used a graduate loan to buy my Porsche for ISTR £9k back then for a 10ish year old 944 S2. Something like a £15k Cayman would be the equivalent today.

DoubleSix

11,691 posts

175 months

Saturday 2nd January 2016
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AvonRise said:
They won't get any cheaper and those 'fried egg' headlamps which were slated on launch are now becoming an iconic part of Porsche design.
Twaddle

chriscoates81

482 posts

131 months

Saturday 2nd January 2016
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Aiming this at the op, I earn very slightly more than you (but still less than 30k, I don't care people knowing how much I earn there's more important things to worry about). I bought my first 911, a 996 C2 6 years ago at 24, at the time I was living with my girlfriend (now wife) who was also working which helped. When she got got pregnant a couple of years ago I upgrade to the 996 turbo (with the help of a share scheme from a previous job). So far the worst bits have been having all three rads and the condensors changed on this car which was about £1500 but other than than I've spent less than 2 grand a year on it (in ignoring fuel costs as it's my daily driver smile).

richneedsacar

Original Poster:

45 posts

119 months

Saturday 2nd January 2016
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NHJ - that's great using a graduate loan to buy your Porsche! Did you get any flack from parents/friends/girlfriend etc!? Inspirational.

chriscoates - thanks for your reply! That's brilliant you've managed to pull it off on a similar wage! Haha as I was reading, I thought you were going to say when your girlfriend got pregnant you had to get a Golf or something, not upgrade to a 996 turbo! Good wife.

gsewell - I have just switched my ISA to Nationwide as they allow you to split your ISA so I opened a help to buy ... thanks for the pointer though.

SEE YA - very cool car! Perfect looking.

edc and andy97 - I do love 986 Boxsters, but it's not reaaallly what I want as what would be a daily driver. I'm not ruling it out completely but not right now.

Thanks Sparta6 - I know, I have some friends that I know could never get away with buying a Porsche - I'm glad I haven't drawn that short straw.







SEE YA

3,522 posts

244 months

Saturday 2nd January 2016
quotequote all
richneedsacar said:
NHJ - that's great using a graduate loan to buy your Porsche! Did you get any flack from parents/friends/girlfriend etc!? Inspirational.

chriscoates - thanks for your reply! That's brilliant you've managed to pull it off on a similar wage! Haha as I was reading, I thought you were going to say when your girlfriend got pregnant you had to get a Golf or something, not upgrade to a 996 turbo! Good wife.

gsewell - I have just switched my ISA to Nationwide as they allow you to split your ISA so I opened a help to buy ... thanks for the pointer though.

SEE YA - very cool car! Perfect looking.

edc and andy97 - I do love 986 Boxsters, but it's not reaaallly what I want as what would be a daily driver. I'm not ruling it out completely but not right now.

Thanks Sparta6 - I know, I have some friends that I know could never get away with buying a Porsche - I'm glad I haven't drawn that short straw.
Many thanks, could not afford one now gone up to much in value.

Never take it for granted either.

Hard-Drive

4,076 posts

228 months

Saturday 2nd January 2016
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richneedsacar said:
I do love 986 Boxsters, but it's not reaaallly what I want as what would be a daily driver. I'm not ruling it out completely but not right now.
So with the budget you have, why not have a good 986 as a "toy", and also have a practical car too? 986s are the performance bargain of the decade at the moment, and I also think prices for good ones will only go one way, so you probably won't lose out. And getting 20 something MPG does start to grate a bit if it's just a "journey" rather than a "drive".

If you keep it for special occasions, you won't need to worry about taking it out in the ice/leaving it overnight somewhere a bit dodgy/morons dinging it in the supermarket car park etc etc. And every time you start it, it will just feel that bit more "special". Trust me, we all have those PH-inspired dreams of driving something quick on every journey and loving it, but right now, I've not driven the 986 for weeks, preferring the heated seat comfort and laziness of the Mrs' diesel automatic Freelander! But I know that when the roads dry out so it won't be instantly covered in grime, and the sun peeks it's head out from it's wintry sleep, there will be some stupid 50 mile thrash for a pint of milk, and I also know that I'd probably not be having five times the fun in a 981 costing 5 five times as much...



red997

1,304 posts

208 months

Sunday 3rd January 2016
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mr first Pork was a 986S - early 30's
Having owned 10 other since then, I would be very happy going back to one !
In fact, I might even be on the look out for one right now...smile
Given the known (fixable ) problems up front, they are a good purchase IMHO.
I wouldn't rule out one as a daily driver either - I used mine for a couple of years in this role
good luck !

e8_pack

1,384 posts

180 months

Sunday 3rd January 2016
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Christ, my graduate loan was used to buy food and rent. Full time engineering degree took up all my time.

As for plans derailed, next one is kids, so buy the 996 C2 now while you can, least you'll fit it in the back.

GhostyDog

464 posts

206 months

Sunday 3rd January 2016
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I bought a 987.1 Boxster in October, a decent spec with some desirable options, personally I find it a far more resolved and modern design than the 986, which is really showing it's age whereas the 987 still looks and feels like it could be sold new today imho.

Bought with 50k on the clock and full service history (some OP some independent) I thought i'd be getting a sound car despite it being nearly ten years old, well in the past two months I've spent over 2.5k chasing problems, mostly suspension but lots of other niggly bits and I reckon I still have around another 1k to spend to get it properly sorted to a standard where it can be enjoyed on a daily basis without distracting knocks or water leaks.

Once done the car will be back to what my expectation of a Porsche should be, it's something to bear in mind, the purchase cost is only part of the cost and going to be quite a bit more costly to maintain and run than your mini unless you can put up with it not being spot on.

NJH

3,021 posts

208 months

Sunday 3rd January 2016
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e8_pack said:
Christ, my graduate loan was used to buy food and rent. Full time engineering degree took up all my time.
Graduate not student so I was working somewhere as part of the graduate in take that year. Living in a shared house in an area at a time when rents were low meant it was easy to service that loan. BTA one of the specialists I used to use only charged £26 PH labour back then and the parts were 1/2 the price as well.