Average/low earners Porsche discussion!
Discussion
Hello guys,
I just wanted to see who else, like me, earns a very average wage but owns a Porsche, or is aspiring to own one? I love reading these forums and appreciate all the posts! The Cayman GTS thread makes me turn green with envy! Hah but I really appreciate all the time you guys spend posting pictures and info on your cars. By average, I mean 30k or less a year? I make £25,750 at the moment, so not really Porsche money at all!
I currently drive a 2007 Mini Cooper S - my next car will definitely be a Porsche and I'm saving £350 a month now towards one. I turned 27 last month and plan to buy when I'm 30 (rest of the capital made up from selling my current car and a low interest bank loan). I originally wanted a 987 gen 1 Cayman - but now all that's in my head is a 981 Boxter - this one looks fantastic for £35000 as an OPC car!
http://www.autotrader.co.uk/classified/advert/2014...
So I'm thinking around the Christmas time in 3 years, an OPC 2012 Boxter will be around mid to low 20ks and I'll be in a strong position to buy (£13,000 savings, £4-5000 part ex from my car and the remainder low interest bank loan). Does this sound like a normal plan to you? Basically, none of my friends think like this at all and I do feel like everyone will say I'm wasting my money on a Porsche.
I'm guessing there's some nutters on here with a very normal wage (up to low 30k -but the lower the better!) and I'd love to hear your stories of how you saved for your cars, or took out a big loan, or anything really! Is there anything you regret?
Thanks!
P.S - I've read till my eyes have bled over IMS and RMS failures in Gen 1 Caymans and Boxters, 996s and 997s! I think that's what's put the 981 Boxter in my mind to stop worrying - I'm a natural worrier!
I just wanted to see who else, like me, earns a very average wage but owns a Porsche, or is aspiring to own one? I love reading these forums and appreciate all the posts! The Cayman GTS thread makes me turn green with envy! Hah but I really appreciate all the time you guys spend posting pictures and info on your cars. By average, I mean 30k or less a year? I make £25,750 at the moment, so not really Porsche money at all!
I currently drive a 2007 Mini Cooper S - my next car will definitely be a Porsche and I'm saving £350 a month now towards one. I turned 27 last month and plan to buy when I'm 30 (rest of the capital made up from selling my current car and a low interest bank loan). I originally wanted a 987 gen 1 Cayman - but now all that's in my head is a 981 Boxter - this one looks fantastic for £35000 as an OPC car!
http://www.autotrader.co.uk/classified/advert/2014...
So I'm thinking around the Christmas time in 3 years, an OPC 2012 Boxter will be around mid to low 20ks and I'll be in a strong position to buy (£13,000 savings, £4-5000 part ex from my car and the remainder low interest bank loan). Does this sound like a normal plan to you? Basically, none of my friends think like this at all and I do feel like everyone will say I'm wasting my money on a Porsche.
I'm guessing there's some nutters on here with a very normal wage (up to low 30k -but the lower the better!) and I'd love to hear your stories of how you saved for your cars, or took out a big loan, or anything really! Is there anything you regret?
Thanks!
P.S - I've read till my eyes have bled over IMS and RMS failures in Gen 1 Caymans and Boxters, 996s and 997s! I think that's what's put the 981 Boxter in my mind to stop worrying - I'm a natural worrier!
Well I'm a 911 owner and poor. I have come to the conclusion that when I add the hours up I'm not sure I earn much more than minimum wage!!!
Though it shouldn't dictate your purchase, just keep an eye on depreciation. Basically what your saving up a month you will lose in it ........ that's a heck of a hit, and after a while you may be back to square one again.
That's partially why I bought an old Porsche. Though saying that, I prefer them
Best of luck with your future purchase ........ I was 34 before I managed to afford my first Porsche so you'll beat me by a few years .
Though it shouldn't dictate your purchase, just keep an eye on depreciation. Basically what your saving up a month you will lose in it ........ that's a heck of a hit, and after a while you may be back to square one again.
That's partially why I bought an old Porsche. Though saying that, I prefer them
Best of luck with your future purchase ........ I was 34 before I managed to afford my first Porsche so you'll beat me by a few years .
Thanks for the talk!
Wozy - what Porsche did you buy? Honestly, I've thought so much about depreciation etc, that was why I originally wanted a gen 1 Cayman! I'd love a 997 gen 1 on the Hartech scheme but that gets my head spinning again on the risk,maintenance and warranty side of things! It's very likely that I won't end up with a 981 Boxter, but it will definitely be a Porsche for around 20k - I guess just the one I feel is best value and isn't going to blow up!
Hah I know what you mean about the planning and actually ending up doing nothing, but I have a lot of time to plan as I need 3 years to save! I am good when I have an idea like this, I save and follow it through - I saved £8000 in a year for my Cooper S! I have more commitments now though, so I can't save as quickly.
Wozy - what Porsche did you buy? Honestly, I've thought so much about depreciation etc, that was why I originally wanted a gen 1 Cayman! I'd love a 997 gen 1 on the Hartech scheme but that gets my head spinning again on the risk,maintenance and warranty side of things! It's very likely that I won't end up with a 981 Boxter, but it will definitely be a Porsche for around 20k - I guess just the one I feel is best value and isn't going to blow up!
Hah I know what you mean about the planning and actually ending up doing nothing, but I have a lot of time to plan as I need 3 years to save! I am good when I have an idea like this, I save and follow it through - I saved £8000 in a year for my Cooper S! I have more commitments now though, so I can't save as quickly.
richneedsacar said:
Thanks for the talk!
Wozy - what Porsche did you buy? Honestly, I've thought so much about depreciation etc, that was why I originally wanted a gen 1 Cayman! I'd love a 997 gen 1 on the Hartech scheme but that gets my head spinning again on the risk,maintenance and warranty side of things! It's very likely that I won't end up with a 981 Boxter, but it will definitely be a Porsche for around 20k - I guess just the one I feel is best value and isn't going to blow up!
I've had a few, presently a 993. Wozy - what Porsche did you buy? Honestly, I've thought so much about depreciation etc, that was why I originally wanted a gen 1 Cayman! I'd love a 997 gen 1 on the Hartech scheme but that gets my head spinning again on the risk,maintenance and warranty side of things! It's very likely that I won't end up with a 981 Boxter, but it will definitely be a Porsche for around 20k - I guess just the one I feel is best value and isn't going to blow up!
My advice ...... You have already thought about it. For your budget 997 C2 all the way, I really really rate the base C2. That's the one I'd have, I wouldn't get hung up having an 'S' as the basic car is supposed to be the best drive.
This is ideal spec and no doubt could be knocked down a little. http://www.pistonheads.com/classifieds/used-cars/p...
Just about as depreciation proof as you'll get on a modern car. Good colour, low mileage and great spec.
The value in the Porsche market right now is 986 Boxsters and 996 Carreras.
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.
You can get an excellent 986 S for £7-9k and a 996 C2 Coupe wouldn't cost much more - but budget £15k if you were looking for a ragtop.
Whilst they do have some known issues - most that are still around will continue to run, and if the worst happens, you have plenty of cash left to fix.
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.
You can get an excellent 986 S for £7-9k and a 996 C2 Coupe wouldn't cost much more - but budget £15k if you were looking for a ragtop.
Whilst they do have some known issues - most that are still around will continue to run, and if the worst happens, you have plenty of cash left to fix.
If it's what you want then get one, you will not regret it apart from the porsche addiction that follows. I bought my first when I was 29 with just my house as commitments. I'm now on my 6th in 9 years. You only regret things you don't do in life, buy a well looked after one at the right price and you will be fine. You might lose a few grand along the way but if you buy wise, i.e buy one that's just been serviced/had money spent on it then sell before you need to spend any money on it you can limit your losses. Over 6 Porsches and 9 years I have managed to only lose 6.5k roughly in total (helped by the recent rising 993 market!!) so you don't have to be loaded to run them, although that would be nice!! Good luck.
I've had a decent job in the past, and the voluntary redundancy payment allowed me to buy my 964. I now earn about £20k from a part time supermarket job, company pension (taken early), and self-employment. I have an E61 for a daily driver, and an E85 Z4 for when I fancy driving without a roof. Not having a mortgage helps - paid off before I took redundancy.
The 964 is pretty much free motoring. I've spent a couple of grand in the 30 months that I've owned it, but it has increased in value by more than that.
The 964 is pretty much free motoring. I've spent a couple of grand in the 30 months that I've owned it, but it has increased in value by more than that.
The ship has sailed on air-cooled cars, though - you're as likely to lose a fortune than make it, in my opinion, as they're generally looking a bit over-priced.
Early liquid cooled cars are where the 'depreciation proofed / free motoring' market is right now.
If I had the spare cash, I'd probably put it into an early 996 Turbo. Mechanically, the strongest of the early cars - and the turbo cachet will ensure they're the first to make money.
But I really can't see any early water-cooled car being a bad investment.
Early liquid cooled cars are where the 'depreciation proofed / free motoring' market is right now.
If I had the spare cash, I'd probably put it into an early 996 Turbo. Mechanically, the strongest of the early cars - and the turbo cachet will ensure they're the first to make money.
But I really can't see any early water-cooled car being a bad investment.
Good luck OP.
A 987 Gen 2 Boxster/Boxster S sounds like something to seriously consider - you could be in that in the near future. No IMS, bore scoring etc of the 986 or 987 Gen 1, and you'll save on the 981. Look out for cars with LED rear lights, from very late 2008 (although be careful as some Gen 1s can slip into that era).
eg - see http://www.pistonheads.com/classifieds/used-cars/p...
or see http://www.autotrader.co.uk/classified/advert/2014... (which you could be into quite so?).
Just a thought...
A 987 Gen 2 Boxster/Boxster S sounds like something to seriously consider - you could be in that in the near future. No IMS, bore scoring etc of the 986 or 987 Gen 1, and you'll save on the 981. Look out for cars with LED rear lights, from very late 2008 (although be careful as some Gen 1s can slip into that era).
eg - see http://www.pistonheads.com/classifieds/used-cars/p...
or see http://www.autotrader.co.uk/classified/advert/2014... (which you could be into quite so?).
Just a thought...
Edited by Bumble SV on Sunday 19th October 22:19
Great plan, it is nice to have dreams and realise them. However you could fall in love with someone and marry & mortgage in 3 years!
I own a 986 and have driven a 981 S PDK. The new car is fabulous but when I jumped into mine, it still provided me with that excitement of open top motoring and driving a Porsche! There are 986 and 987 cars out there with the RMS and IMS already replaced but bear in mind, this only affects less than 5% cars out there anyway (apparently).
I own a 986 and have driven a 981 S PDK. The new car is fabulous but when I jumped into mine, it still provided me with that excitement of open top motoring and driving a Porsche! There are 986 and 987 cars out there with the RMS and IMS already replaced but bear in mind, this only affects less than 5% cars out there anyway (apparently).
You're 27 years old, so you are a young guy, but whats your life plan? House, wife, kids etc?
Stating your salary on here shows a little naivety but hey, who cares.
Dont put off whats really important to buy a Porsche, it could limit your choices later on. You have time. Work hard and earn it. Play the long game.
But then, you wont listen to me will you?
Stating your salary on here shows a little naivety but hey, who cares.
Dont put off whats really important to buy a Porsche, it could limit your choices later on. You have time. Work hard and earn it. Play the long game.
But then, you wont listen to me will you?
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.RB_987s 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.
+1 wise wordsYou
When I was your age(!), albeit not that long ago, I had similiar aspirations. I dreamed of owning a 911 and although I was saving up to buy a house, I used that money and bought a 996. A year later I sold it for a -£1k loss on the value. Not bad I thought for realising by boyhood dreams. Then I went and bought that house...
Last year, I sold my 997 for a profit, albeit £200 more than I bought it a year previous. It can be done, if you are prepared to wait - the odd gem pops up in the classifieds almost always as a private sale - do your research and know when the right time is to let go.
As people have said on here, buy the best you can now. Who knows what the future holds.
Last year, I sold my 997 for a profit, albeit £200 more than I bought it a year previous. It can be done, if you are prepared to wait - the odd gem pops up in the classifieds almost always as a private sale - do your research and know when the right time is to let go.
As people have said on here, buy the best you can now. Who knows what the future holds.
[quote=AvonRise]The ship has sailed on air-cooled cars, though - you're as likely to lose a fortune than make it, in my opinion, as they're generally looking a bit over-priced.
Early liquid cooled cars are where the 'depreciation proofed / free motoring' market is right now.
If I had the spare cash, I'd probably put it into an early 996 Turbo. Mechanically, the strongest of the early cars - and the turbo cachet will ensure they're the first to make money.
But I really can't see any early water-cooled car being a bad investment.[/quote
The A/C market is steady and going up not going down. The models which are low now and good value are 996 Turbo, Boxsters. People who wanted a older 911 have found themselves priced out the market these days.
Early liquid cooled cars are where the 'depreciation proofed / free motoring' market is right now.
If I had the spare cash, I'd probably put it into an early 996 Turbo. Mechanically, the strongest of the early cars - and the turbo cachet will ensure they're the first to make money.
But I really can't see any early water-cooled car being a bad investment.[/quote
The A/C market is steady and going up not going down. The models which are low now and good value are 996 Turbo, Boxsters. People who wanted a older 911 have found themselves priced out the market these days.
I was in a similar position wanting a Porsche (a few years ago now).
I went from a hot hatch (205 GTI) to a softtop (MX5) to a Lotus Elise and then to a 3.2 Carrera.
Don't discount the option of getting to grips with a lower powered RWD car first.
The market has changed from being able to pick up SC's and 3.2's for peanuts.
Personally today I'd pick-up a 986 Boxster S or 996 C2.
Of the two I'd choose the 996, a manual C2 coupe is always a winning combination.
I went from a hot hatch (205 GTI) to a softtop (MX5) to a Lotus Elise and then to a 3.2 Carrera.
Don't discount the option of getting to grips with a lower powered RWD car first.
The market has changed from being able to pick up SC's and 3.2's for peanuts.
Personally today I'd pick-up a 986 Boxster S or 996 C2.
Of the two I'd choose the 996, a manual C2 coupe is always a winning combination.
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