'Car pups' and massive expense being a petrolhead...
Discussion
Been meaning to ask around on here for a while, if anyone else has been as silly as me, in the pursuit of misguided petrolhead nirvana?
My story. Early 2007 - things are going well, new job paying a bundle, and instead of my sensible head saying 'ooh, you can earn and save a decent wedge of cash here' the devil on my shoulder was shouting 'get a monstrously expensive and ridiculous car right now!'
So, after only a couple of months into a new job, my childish excitement took over, and the search for a Porsche 911 begins.
I have a few grand for a deposit, and the aforementioned Devil just encouraged me to finance the rest.
My criteria was for a cabrio - despite what everyone says, I absolutely love top-down motoring, and on such a special car, I wanted that connection with the elements, and the aural stimulation of hearing the engine and exhaust sound unfettered.
I had a particular set of necessary requirements for my new Porsche - had to be a cabrio, had to have a full aero kit, had to be a dark colour, and preferably with GT3 style wheels.
Then, as I lived 75 miles from work (in central London) and was also gonna use it to commute sometimes (I didn't want it to be a fairweather car) I then also softened my attitude to having a 4 wheel drive model, and was ok about a Tiptronic box...reasoning that the London traffic would favour it.
After a couple of months of searching, my dream car arrived - a 996 C4 tiptronic cabrio, in blue, blue leather, sports seats, GT3 wheels, full aerokit, and a sports exhaust. Plus a few other niceties like white-faced clocks, silver console, extended leather, etc.
30 grand. I put down my 3 grand deposit, and financed the rest.
The resulting 4 years of ownership would fill many pages if I described it in full...suffice to say, it provided many an amazing day (and night) of motoring, both solo and with mates; also on Pistonhead events, and tunnel runs too. I bought 4 years of slightly exclusive petrolhead fun and excitement, and possibly that will never be repeated again in my life (as things are less than great thanks to the recession, and I cannot see myself living on anything more exciting than beans on toast for the forseeable future...but that's another story...)
Anyway, the bad bits and the point of the thread. The horrendous expense, and the monumental waste of money blindly pursuing a petrolhead's dream...
First off, the cost of finance. Over the 4 year deal, the interest was 6 grand.
Next off, the depreciation. Bought for 30 grand, sold in a recession 4 years later as an unloved, unfancied and unpopular model, for 12 grand.
Then...the running costs and repairs. If you read the Porsche forums, and see all the things that can go wrong on a 996 - well mine ticked all the boxes (save IMS bearing failure and engine destruction at least) plus a few more besides.
It all went wrong, one thing after another. Plus the Achillies Heel of my particular car - constant Tiptronic box problems. The flipping thing ended up coming out and going back into the car no less than 7 times. It just kept failing and going wrong - and it didn't seem that anyone knew why. If I had known it was a 'Friday afternoon unit, I would have just bought a brand-new one first off - at nearly 4 grand for a new one, it would have worked out cheaper in the end.
I won't list all the faults, failures and issues - but suffice to say, the cost of repairs, maintenance and service labour, and parts, runs to another 15 grand over the 4 years.
Then, not the car's fault, but I did 2 sets of PS3 tyres (1600 quid) and a set of discs and pads (600 quid) over the time.
I know 996's do not have a great reputation, but I didn't think they would be that bad - after all, they still carry a Stuttgart crest on the bonnet, right? Um no, how wrong I was. I did a fair chunk of maintenance and work myself, and was disappointed in the build quality and integrity of the fixtures and fittings. Definitely built down to a price, and it showed.
But despite all this, and because of my love of cars, and my membership of this forum - I didn't care, and I still loved it until the end.
But - the cost to own over 4 years - not including fuel and insurance etc?
Around 40 grand
That's 40 grand, down the drain, gone for ever, all in the pursuit of a ridiculous passion for cars. Which for an ordinary working-class bloke like me, who got ideas way above his station one day, is a massive blow and frankly I could ill afford, and probably won't really recover from.
So...anyone else done 'near bankruptcy' in the blind pursuit of car happiness???!!!
My story. Early 2007 - things are going well, new job paying a bundle, and instead of my sensible head saying 'ooh, you can earn and save a decent wedge of cash here' the devil on my shoulder was shouting 'get a monstrously expensive and ridiculous car right now!'
So, after only a couple of months into a new job, my childish excitement took over, and the search for a Porsche 911 begins.
I have a few grand for a deposit, and the aforementioned Devil just encouraged me to finance the rest.
My criteria was for a cabrio - despite what everyone says, I absolutely love top-down motoring, and on such a special car, I wanted that connection with the elements, and the aural stimulation of hearing the engine and exhaust sound unfettered.
I had a particular set of necessary requirements for my new Porsche - had to be a cabrio, had to have a full aero kit, had to be a dark colour, and preferably with GT3 style wheels.
Then, as I lived 75 miles from work (in central London) and was also gonna use it to commute sometimes (I didn't want it to be a fairweather car) I then also softened my attitude to having a 4 wheel drive model, and was ok about a Tiptronic box...reasoning that the London traffic would favour it.
After a couple of months of searching, my dream car arrived - a 996 C4 tiptronic cabrio, in blue, blue leather, sports seats, GT3 wheels, full aerokit, and a sports exhaust. Plus a few other niceties like white-faced clocks, silver console, extended leather, etc.
30 grand. I put down my 3 grand deposit, and financed the rest.
The resulting 4 years of ownership would fill many pages if I described it in full...suffice to say, it provided many an amazing day (and night) of motoring, both solo and with mates; also on Pistonhead events, and tunnel runs too. I bought 4 years of slightly exclusive petrolhead fun and excitement, and possibly that will never be repeated again in my life (as things are less than great thanks to the recession, and I cannot see myself living on anything more exciting than beans on toast for the forseeable future...but that's another story...)
Anyway, the bad bits and the point of the thread. The horrendous expense, and the monumental waste of money blindly pursuing a petrolhead's dream...
First off, the cost of finance. Over the 4 year deal, the interest was 6 grand.
Next off, the depreciation. Bought for 30 grand, sold in a recession 4 years later as an unloved, unfancied and unpopular model, for 12 grand.
Then...the running costs and repairs. If you read the Porsche forums, and see all the things that can go wrong on a 996 - well mine ticked all the boxes (save IMS bearing failure and engine destruction at least) plus a few more besides.
It all went wrong, one thing after another. Plus the Achillies Heel of my particular car - constant Tiptronic box problems. The flipping thing ended up coming out and going back into the car no less than 7 times. It just kept failing and going wrong - and it didn't seem that anyone knew why. If I had known it was a 'Friday afternoon unit, I would have just bought a brand-new one first off - at nearly 4 grand for a new one, it would have worked out cheaper in the end.
I won't list all the faults, failures and issues - but suffice to say, the cost of repairs, maintenance and service labour, and parts, runs to another 15 grand over the 4 years.
Then, not the car's fault, but I did 2 sets of PS3 tyres (1600 quid) and a set of discs and pads (600 quid) over the time.
I know 996's do not have a great reputation, but I didn't think they would be that bad - after all, they still carry a Stuttgart crest on the bonnet, right? Um no, how wrong I was. I did a fair chunk of maintenance and work myself, and was disappointed in the build quality and integrity of the fixtures and fittings. Definitely built down to a price, and it showed.
But despite all this, and because of my love of cars, and my membership of this forum - I didn't care, and I still loved it until the end.
But - the cost to own over 4 years - not including fuel and insurance etc?
Around 40 grand
That's 40 grand, down the drain, gone for ever, all in the pursuit of a ridiculous passion for cars. Which for an ordinary working-class bloke like me, who got ideas way above his station one day, is a massive blow and frankly I could ill afford, and probably won't really recover from.
So...anyone else done 'near bankruptcy' in the blind pursuit of car happiness???!!!
In some or even many ways, I admire you, but at the same time, does not compute/think you're a fool/WTF and so on.
Yes a special experience as a daily, but is it really worth it, Vs a snotter & something genuinely different, or minus a certain percentage & massively less cost/hassle?
I often think about sampling Pork but then look at what may well come with it & shy away - hefty insurance, large servicing & repair costs and so on for a few days a year of fun, a certain amount of extra go that I get to use very occasionally & a twitching ring (i.e bank balance). May as well get a Trevor for all that Jerry engineering seems to be worth at the mo.
I guess that personally I struggle with all the stuff around IMS/RMS/bore scores = popping engines when at the level, and a half below, I have a heap that's used all of 3/4 litre of oil in 125k+ (and that has been down to other things and oil leak that those issues created) & just had it's first cambelt change. Engine wise good for more moon miles, yet if I stepped up 10%, I should be budgeting for a rebuild, the undoubtedly admirable services of Hartech etc.
Just can't see the value, outside of genuinely special.
Yes a special experience as a daily, but is it really worth it, Vs a snotter & something genuinely different, or minus a certain percentage & massively less cost/hassle?
I often think about sampling Pork but then look at what may well come with it & shy away - hefty insurance, large servicing & repair costs and so on for a few days a year of fun, a certain amount of extra go that I get to use very occasionally & a twitching ring (i.e bank balance). May as well get a Trevor for all that Jerry engineering seems to be worth at the mo.
I guess that personally I struggle with all the stuff around IMS/RMS/bore scores = popping engines when at the level, and a half below, I have a heap that's used all of 3/4 litre of oil in 125k+ (and that has been down to other things and oil leak that those issues created) & just had it's first cambelt change. Engine wise good for more moon miles, yet if I stepped up 10%, I should be budgeting for a rebuild, the undoubtedly admirable services of Hartech etc.
Just can't see the value, outside of genuinely special.
Man maths lesson 101, you never add up the cost of things post expenditure, only pre expenditure! No good ever comes of it!
I worked out that if my Z06 is worth half what I bought it for second hand (35K) in 4 years then I would of spent the same amount on paying for a rental car for the same period...the trick in convincing myself of this was ignoring the cost of insurance, tyres, trackdays, maintenance, servicing etc.
I've had the car a year and I know it is costing me way more than a rental, but the joy it gives me makes it well worth the outlay and so long as you can afford it, why work out the cost?
I worked out that if my Z06 is worth half what I bought it for second hand (35K) in 4 years then I would of spent the same amount on paying for a rental car for the same period...the trick in convincing myself of this was ignoring the cost of insurance, tyres, trackdays, maintenance, servicing etc.
I've had the car a year and I know it is costing me way more than a rental, but the joy it gives me makes it well worth the outlay and so long as you can afford it, why work out the cost?
there are parts of the UK where you can buy a 2 bed flat for £40K.
Imagine if you had saved £40K and bought one as a buy to let. In the particular area I'm thinking of you could achieve £300 a month rental.
Now I'm thinking that's enough for a risk free but 'interesting' car on a lease hire
So basically you could have had a FREE car forever. Ha ha
Imagine if you had saved £40K and bought one as a buy to let. In the particular area I'm thinking of you could achieve £300 a month rental.
Now I'm thinking that's enough for a risk free but 'interesting' car on a lease hire
So basically you could have had a FREE car forever. Ha ha
It's not £40k though is it?
Even if you'd never heard of Porsche you'd have been running a car. Whatever it was, it'd depreciate. It'd need tyres, it'd need servicing, tax and insurance. It could be a total hound.
Sure, there are cheaper cars out there but if you take that argument to its inevitable conclusion and live by it then your average petrolhead ends up with a series of soul-free snotters and clinical depression.
The same is true of any hobby / interest. You could save cash by not doing it or doing it badly. That's no way to live. Can't take it with you......
Even if you'd never heard of Porsche you'd have been running a car. Whatever it was, it'd depreciate. It'd need tyres, it'd need servicing, tax and insurance. It could be a total hound.
Sure, there are cheaper cars out there but if you take that argument to its inevitable conclusion and live by it then your average petrolhead ends up with a series of soul-free snotters and clinical depression.
The same is true of any hobby / interest. You could save cash by not doing it or doing it badly. That's no way to live. Can't take it with you......
I think £40k on a 996 cab trip is going to be hard to beat.
For me I tend to buy older cars around the £10/15k mark so they have suffered the depreciation. Last two I've sold on at either the price I paid (Lotus Elise Sport 160) and more (Porsche 968 CS).
Not really had any problems, just maintenance.
Although my main car madness purchase was a set of orginal Techart alloy wheels from the dusty corner of Techarts warehouse. Only made in the 90s and had to be shipped from Germany - £1700 without tyres just had to have them because they looked the amazing. Still money well worth spending (hopefully the wife doesn't read this).
For me I tend to buy older cars around the £10/15k mark so they have suffered the depreciation. Last two I've sold on at either the price I paid (Lotus Elise Sport 160) and more (Porsche 968 CS).
Not really had any problems, just maintenance.
Although my main car madness purchase was a set of orginal Techart alloy wheels from the dusty corner of Techarts warehouse. Only made in the 90s and had to be shipped from Germany - £1700 without tyres just had to have them because they looked the amazing. Still money well worth spending (hopefully the wife doesn't read this).
I love cars and driving, but the most I've spent is £2k. Because of the nature of driving, especially in the UK where no-one gives a s
t, I won't spend more than I can afford to walk away from. This doesn't automatically mean I won't have anything interesting (just picked up a Saab 900T16), although never a <20 year old Porsche.
But, good on the OP for going for it. The post still sounds kinda positive overall, so I guess it was a big old box with a massive tick in it. My dream car (other than aforementioned Saab) is an Aston of some type, maybe a V8 Vantage. Mmmm. But I doubt I'll ever get near one, let alone own one.
t, I won't spend more than I can afford to walk away from. This doesn't automatically mean I won't have anything interesting (just picked up a Saab 900T16), although never a <20 year old Porsche.But, good on the OP for going for it. The post still sounds kinda positive overall, so I guess it was a big old box with a massive tick in it. My dream car (other than aforementioned Saab) is an Aston of some type, maybe a V8 Vantage. Mmmm. But I doubt I'll ever get near one, let alone own one.
That's a tough lesson learned. Still, it's impossible to know how a car will behave once you've bought it.
In a few years time, you'll look back, drop a Parisian shrug and simply say 'meh' to it all.
You've had the experience and sometimes, that can be worth more than you previously gave it credit for. Especially for many as they will live their life in fear of what may be.
No pockets in a shroud and all that.
In a few years time, you'll look back, drop a Parisian shrug and simply say 'meh' to it all.
You've had the experience and sometimes, that can be worth more than you previously gave it credit for. Especially for many as they will live their life in fear of what may be.
No pockets in a shroud and all that.
Cheap Street: Scotland's most affordable flat on bargain basement road....
http://www.dailyrecord.co.uk/news/scottish-news/ch...
http://www.dailyrecord.co.uk/news/scottish-news/ch...
I feel your pain OP. Although the APR was about 10% I guess, which seems highish ?
To compound your "misery", I have ran a humble 987 2.7 for £350/month ALL INCLUSIVE (petrol, depreciation, insurance, maintenance, etc etc) apart from finance.
Did I have as much fun as if it had been a 996 Cab ? Possibly not !
To compound your "misery", I have ran a humble 987 2.7 for £350/month ALL INCLUSIVE (petrol, depreciation, insurance, maintenance, etc etc) apart from finance.
Did I have as much fun as if it had been a 996 Cab ? Possibly not !
Gassing Station | General Gassing | Top of Page | What's New | My Stuff