Value for money over time?...
Discussion
Like most of the guys (and girls) on here I do a lot of thinking with regard to what is, lets face it not the cheapest hobby in the world, the love of fast sports cars and the pleasure of ownership that a Porsche brings.
I have read with interest over the months opinions on whats the best 911, what holds its money, what to aviod, the best colours etc etc etc.
Given that I have found a marque of car that I both enjoy and consider to be for the most part well made and huge fun to drive, the one question that I have is that of long term ownership.
May I just say that even though I have bought (and paid for outright) a new Guards red 997 2s, I had to work and save hard for many years to afford this pleasure, and as with most I dont have a bottomless pit of dosh to chuck around on cars.
75 K for a car = 3 times more than I paid for my first house for goodness sake! It does make me feel a little, shall we say guilty/uncomfortable about this nice new (2006) 911 in my garage.
I think, Like most people I dont mind spending my spare cash be it on holidays, or a nice watch etc etc, but I do like to feel , and this is important to me that I have had value for money.
I could maybe change my car every 2 or 3 years if I would like, and throw another 20 or 30 k into the Porsche coffers. What I would prefer to do is look back in a few years, maybe as many as ten with the same car and say, what a bloody great car this is, and has been over the last ten years and 100k miles. Then maybe sell it on for 20k or whatever it happens to be worth in 2016 or even further down the line.
I know the greatest hit on any new car is the first 12 months, then 2 years and after that the tail off is not quit as drastic.
All this said I do rather like the look of the GT3 997!
I really cant think of any other way of getting true value for money on a new Porsche 997 than keeping it long term, and in doing so being a salesmans worse nightmare!!
Any thoughts or comments would be welcome..Ime sure we all share a common goal on obtaining the best value in our hobby even if our hobby sometimes uses differing numbers 64,93,96,97!!! Thanks
I have read with interest over the months opinions on whats the best 911, what holds its money, what to aviod, the best colours etc etc etc.
Given that I have found a marque of car that I both enjoy and consider to be for the most part well made and huge fun to drive, the one question that I have is that of long term ownership.
May I just say that even though I have bought (and paid for outright) a new Guards red 997 2s, I had to work and save hard for many years to afford this pleasure, and as with most I dont have a bottomless pit of dosh to chuck around on cars.
75 K for a car = 3 times more than I paid for my first house for goodness sake! It does make me feel a little, shall we say guilty/uncomfortable about this nice new (2006) 911 in my garage.
I think, Like most people I dont mind spending my spare cash be it on holidays, or a nice watch etc etc, but I do like to feel , and this is important to me that I have had value for money.
I could maybe change my car every 2 or 3 years if I would like, and throw another 20 or 30 k into the Porsche coffers. What I would prefer to do is look back in a few years, maybe as many as ten with the same car and say, what a bloody great car this is, and has been over the last ten years and 100k miles. Then maybe sell it on for 20k or whatever it happens to be worth in 2016 or even further down the line.
I know the greatest hit on any new car is the first 12 months, then 2 years and after that the tail off is not quit as drastic.
All this said I do rather like the look of the GT3 997!
I really cant think of any other way of getting true value for money on a new Porsche 997 than keeping it long term, and in doing so being a salesmans worse nightmare!!
Any thoughts or comments would be welcome..Ime sure we all share a common goal on obtaining the best value in our hobby even if our hobby sometimes uses differing numbers 64,93,96,97!!! Thanks
9hellheaven said:
Like most of the guys (and girls) on here I do a lot of thinking with regard to what is, lets face it not the cheapest hobby in the world, the love of fast sports cars and the pleasure of ownership that a Porsche brings.
I have read with interest over the months opinions on whats the best 911, what holds its money, what to aviod, the best colours etc etc etc.
Given that I have found a marque of car that I both enjoy and consider to be for the most part well made and huge fun to drive, the one question that I have is that of long term ownership.
May I just say that even though I have bought (and paid for outright) a new Guards red 997 2s, I had to work and save hard for many years to afford this pleasure, and as with most I dont have a bottomless pit of dosh to chuck around on cars.
75 K for a car = 3 times more than I paid for my first house for goodness sake! It does make me feel a little, shall we say guilty/uncomfortable about this nice new (2006) 911 in my garage.
I think, Like most people I dont mind spending my spare cash be it on holidays, or a nice watch etc etc, but I do like to feel , and this is important to me that I have had value for money.
I could maybe change my car every 2 or 3 years if I would like, and throw another 20 or 30 k into the Porsche coffers. What I would prefer to do is look back in a few years, maybe as many as ten with the same car and say, what a bloody great car this is, and has been over the last ten years and 100k miles. Then maybe sell it on for 20k or whatever it happens to be worth in 2016 or even further down the line.
I know the greatest hit on any new car is the first 12 months, then 2 years and after that the tail off is not quit as drastic.
All this said I do rather like the look of the GT3 997!
I really cant think of any other way of getting true value for money on a new Porsche 997 than keeping it long term, and in doing so being a salesmans worse nightmare!!
Any thoughts or comments would be welcome..Ime sure we all share a common goal on obtaining the best value in our hobby even if our hobby sometimes uses differing numbers 64,93,96,97!!! Thanks
I think if you are looking for value for money then don't buy new, rather buy nearly new after the first 2-3 years of depreciation have been taken by someone else.I have read with interest over the months opinions on whats the best 911, what holds its money, what to aviod, the best colours etc etc etc.
Given that I have found a marque of car that I both enjoy and consider to be for the most part well made and huge fun to drive, the one question that I have is that of long term ownership.
May I just say that even though I have bought (and paid for outright) a new Guards red 997 2s, I had to work and save hard for many years to afford this pleasure, and as with most I dont have a bottomless pit of dosh to chuck around on cars.
75 K for a car = 3 times more than I paid for my first house for goodness sake! It does make me feel a little, shall we say guilty/uncomfortable about this nice new (2006) 911 in my garage.
I think, Like most people I dont mind spending my spare cash be it on holidays, or a nice watch etc etc, but I do like to feel , and this is important to me that I have had value for money.
I could maybe change my car every 2 or 3 years if I would like, and throw another 20 or 30 k into the Porsche coffers. What I would prefer to do is look back in a few years, maybe as many as ten with the same car and say, what a bloody great car this is, and has been over the last ten years and 100k miles. Then maybe sell it on for 20k or whatever it happens to be worth in 2016 or even further down the line.
I know the greatest hit on any new car is the first 12 months, then 2 years and after that the tail off is not quit as drastic.
All this said I do rather like the look of the GT3 997!
I really cant think of any other way of getting true value for money on a new Porsche 997 than keeping it long term, and in doing so being a salesmans worse nightmare!!
Any thoughts or comments would be welcome..Ime sure we all share a common goal on obtaining the best value in our hobby even if our hobby sometimes uses differing numbers 64,93,96,97!!! Thanks
I agree and share most of your comments.
I'm probably a bit different to a lot of Porsche owners in that I tend to keep my cars for longer than normal (5 yrs +).
Having done that, I don't mind what the hit has been as it has provided many top motoring memories over a long enough period of time to enable me to have really gelled with the car.
The flip side is that i don't particularly mind what the car costs in the first place. The MOST important thing is that it is the right car. I can't see the sense in a "gap fill" car till the one i really want is available/affordable.
So my motto is buy the car you really really want, and then keep it for a long time.
Anything else to me wouldnt deliver value for money - and one would have to think what could be done with the money instead. eg I could chop my mk1 gt3 in for say a 996RS. But i'd need to find around £30k. That £30k keeps me in track days, holidays and beer for at least three years. And i still love the mk1.
Horses for courses but thats just my take on it.
Ajit.
I'm probably a bit different to a lot of Porsche owners in that I tend to keep my cars for longer than normal (5 yrs +).
Having done that, I don't mind what the hit has been as it has provided many top motoring memories over a long enough period of time to enable me to have really gelled with the car.
The flip side is that i don't particularly mind what the car costs in the first place. The MOST important thing is that it is the right car. I can't see the sense in a "gap fill" car till the one i really want is available/affordable.
So my motto is buy the car you really really want, and then keep it for a long time.
Anything else to me wouldnt deliver value for money - and one would have to think what could be done with the money instead. eg I could chop my mk1 gt3 in for say a 996RS. But i'd need to find around £30k. That £30k keeps me in track days, holidays and beer for at least three years. And i still love the mk1.
Horses for courses but thats just my take on it.
Ajit.
Edited by Singh911 on Sunday 17th June 00:14
Singh911 said:
I agree and share most of your comments.
I'm probably a bit different to a lot of Porsche owners in that I tend to keep my cars for longer than normal (5 yrs +).
Having done that, I don't mind what the hit has been as it has provided many top motoring memories over a long enough period of time to enable me to have really gelled with the car.
The flip side is that i don't particularly mind what the car costs in the first place. The MOST important thing is that it is the right car. I can't see the sense in a "gap fill" car till the one i really want is available/affordable.
So my motto is buy the car you really really want, and then keep it for a long time.
Anything else to me wouldnt deliver value for money - and one would have to think what could be done with the money instead. eg I could chop my mk1 gt3 in for say a 996RS. But i'd need to find around £30k. That £30k keeps me in track days, holidays and beer for at least three years. And i still love the mk1.
Horses for courses but thats just my take on it.
Ajit.
Absolutly spot on in every way I'm probably a bit different to a lot of Porsche owners in that I tend to keep my cars for longer than normal (5 yrs +).
Having done that, I don't mind what the hit has been as it has provided many top motoring memories over a long enough period of time to enable me to have really gelled with the car.
The flip side is that i don't particularly mind what the car costs in the first place. The MOST important thing is that it is the right car. I can't see the sense in a "gap fill" car till the one i really want is available/affordable.
So my motto is buy the car you really really want, and then keep it for a long time.
Anything else to me wouldnt deliver value for money - and one would have to think what could be done with the money instead. eg I could chop my mk1 gt3 in for say a 996RS. But i'd need to find around £30k. That £30k keeps me in track days, holidays and beer for at least three years. And i still love the mk1.
Horses for courses but thats just my take on it.
Ajit.
Edited by Singh911 on Sunday 17th June 00:14
If you've got the best part of £100k burning a hole in your pocket and you can't think of a car you'd like to spend the next 10 yrs driving I pity you.
When I've just bought a car I like to think I'd keep it for a long time, so I don't worry too much about depreciation & running costs (within reason) because I think I'll be the one getting the benefit out of it.
After a while I get bored or frustrated with a car, realise it's not really the car I want to spend the several years driving.
I've gone through this process a couple of times so I find it best to buy a cheap 'interim' car that's an example of the kind of car I want (Luxury barge, fast coupe, sportscar etc) to see if I can live with it & what it doesn't do that I do want it to do. If I like it I quickly move on to a better version of the same car (the one I really want), so my car ownership has tended to go through as cycle of cheap car, nice car, often owning two of the same car where I liked the cheap one enough to buy a better one.
How quickly I get bored with a car depends on how much I use it, if it's a second, weekend car it can take longer to realise that it's not the one I really want.
If money weren't an issue I wouldn't buy a 2-3 year old toy to keep though, I'd buy it new & get exactly the spec I wanted & own it for the rest of time knowing no one else had abused it. The 2-3 year old one would be the cheap one to see whether I could live with it, not the 'keeper'.
Money is an issue for me though so for a toy I spend well within what I can afford (never take out a loan to buy a luxury imo) so that the value isn't the issue.
After a while I get bored or frustrated with a car, realise it's not really the car I want to spend the several years driving.
I've gone through this process a couple of times so I find it best to buy a cheap 'interim' car that's an example of the kind of car I want (Luxury barge, fast coupe, sportscar etc) to see if I can live with it & what it doesn't do that I do want it to do. If I like it I quickly move on to a better version of the same car (the one I really want), so my car ownership has tended to go through as cycle of cheap car, nice car, often owning two of the same car where I liked the cheap one enough to buy a better one.
How quickly I get bored with a car depends on how much I use it, if it's a second, weekend car it can take longer to realise that it's not the one I really want.
If money weren't an issue I wouldn't buy a 2-3 year old toy to keep though, I'd buy it new & get exactly the spec I wanted & own it for the rest of time knowing no one else had abused it. The 2-3 year old one would be the cheap one to see whether I could live with it, not the 'keeper'.
Money is an issue for me though so for a toy I spend well within what I can afford (never take out a loan to buy a luxury imo) so that the value isn't the issue.
I always buy at the three year old point and keep for between 3 and 5 years.
I am a lowly employee, scrimping and saving and when i get a bonus i feed it to porky and get another years track days.
I dont find driving the car around on the road particularly good VFM compared to my 530D, now that is real VFM.
I am a lowly employee, scrimping and saving and when i get a bonus i feed it to porky and get another years track days.
I dont find driving the car around on the road particularly good VFM compared to my 530D, now that is real VFM.
I think the best value for money you could possibly get right now is a well looked after Mk1 GT3. If you need back seats these can be fitted , and I think at worst case scenario , you'll come out even stephens after a few years of motoring .. Hell , you might even decide it's a life time keeper!
It'll do 100k miles all day long with that superb engine , and it's rarity value will always make sitting into the seat a special occasion.
You're in a very lucky position to have the cash to buy a new 997s , well done for getting to that place!! ... You could now save yourself £20k worth of depreciation...
All imo of course...
It'll do 100k miles all day long with that superb engine , and it's rarity value will always make sitting into the seat a special occasion.
You're in a very lucky position to have the cash to buy a new 997s , well done for getting to that place!! ... You could now save yourself £20k worth of depreciation...
All imo of course...
HopeI am going to get vfm from my GT3 RS,like yourself I have worked for a long time for this, and cant believe I have one coming soon.
My first house, being up north was 16k so the RS is almost to the penny 10 x more, quite scarey really, but then I earned 100 quid a week.
quess I will loose the price of that house in a year or so, but still better than most cars I guess. P.S. dont feel guilty about owning one, you only live once and who knows what may be round the corner ?
My first house, being up north was 16k so the RS is almost to the penny 10 x more, quite scarey really, but then I earned 100 quid a week.
quess I will loose the price of that house in a year or so, but still better than most cars I guess. P.S. dont feel guilty about owning one, you only live once and who knows what may be round the corner ?
Ballcock said:
I think the best value for money you could possibly get right now is a well looked after Mk1 GT3. If you need back seats these can be fitted , and I think at worst case scenario , you'll come out even stephens after a few years of motoring .. Hell , you might even decide it's a life time keeper!
It'll do 100k miles all day long with that superb engine , and it's rarity value will always make sitting into the seat a special occasion.
You're in a very lucky position to have the cash to buy a new 997s , well done for getting to that place!! ... You could now save yourself £20k worth of depreciation...
All imo of course...
I agree.It'll do 100k miles all day long with that superb engine , and it's rarity value will always make sitting into the seat a special occasion.
You're in a very lucky position to have the cash to buy a new 997s , well done for getting to that place!! ... You could now save yourself £20k worth of depreciation...
All imo of course...
Except you'd have to average 4,166 mph to cover 100,000 miles in a day and even a GT3 may struggle to top 4,000 ...
Lighty said:
HopeI am going to get vfm from my GT3 RS,like yourself I have worked for a long time for this, and cant believe I have one coming soon.
My first house, being up north was 16k so the RS is almost to the penny 10 x more, quite scarey really, but then I earned 100 quid a week.
quess I will loose the price of that house in a year or so, but still better than most cars I guess. P.S. dont feel guilty about owning one, you only live once and who knows what may be round the corner ?
Are GT3 RSs really £160,000?My first house, being up north was 16k so the RS is almost to the penny 10 x more, quite scarey really, but then I earned 100 quid a week.
quess I will loose the price of that house in a year or so, but still better than most cars I guess. P.S. dont feel guilty about owning one, you only live once and who knows what may be round the corner ?
9hellheaven said:
I really cant think of any other way of getting true value for money on a new Porsche 997 than keeping it long term
If you really want to keep a car for 10 years, it would be substantially cheaper to start of with a 3-5 year old.The trouble with buying new with good intentions to keep 'for ever' is a great deal of pleasure to be had from buying a new car (for me anyway). Speccing it, waiting for it, collecting it then getting to know it. Keeping a car for a long period is a very different affair.
The most cost effective way to run an interesting Porsche would be to buy at 5 years old (for 50% of the new price) and sell at 8 years for let's say no less than 50% of what you paid for it. The trick would be to buy and sell privately (or at least wisely).
This means you get to sample ever improving (let's not debate this part!) Porsches every few years or so, and you will be driving a car that is still current. Significant model changes can unwravle this theory...
When I bought my new Boxster outright 5yrs ago, I put the same amount of cash into some investments. 5 years later, the "gain" on those investments would cover the cost to change up again. If I had bought a 996 facelift at the time with all my cash, there would be a a big hole to fill - all other things being equal.
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