Porsche readiness.
Discussion
Folks,
Talk is cheap, and my business touch wood, will finally permit me to buy a 996, my heart's desire. My question Porsche-tons is, how did you know that you were financially ready when you said to yourself
"Right, I've got the money, I'm ready for one?"
What did you use as a guideline?
How did people perceive you when you first bought it?
911fan.
Talk is cheap, and my business touch wood, will finally permit me to buy a 996, my heart's desire. My question Porsche-tons is, how did you know that you were financially ready when you said to yourself
"Right, I've got the money, I'm ready for one?"
What did you use as a guideline?
How did people perceive you when you first bought it?
911fan.
911fan said:
Folks,
Talk is cheap, and my business touch wood, will finally permit me to buy a 996, my heart's desire. My question Porsche-tons is, how did you know that you were financially ready when you said to yourself
"Right, I've got the money, I'm ready for one?"
What did you use as a guideline?
How did people perceive you when you first bought it?
911fan.
I take it, that like me, you are an owner director? The question as to whether or not one is financially ready differs depending on how you get your income.
For example. I do not receive a salary. Or at least - I only get it if the business has the money to pay it. This means I get money in chunks depending on cash flow - and I could wait nine months for next chunk if things are difficult..or the next pay cheque could arrive in a month. Just depends.
Given that I insist on keeping a reserve of personal funds with which I can "pay" myself in lean times and I top it back up when things are good.
How big that reserve needs to be clearly depends on lifestyle and commitments.
I went out and bought a Porsche for cash when the difference between the reserve I calculated I needed (given the level of risk I wanted to carry) was sufficiently less than the balance of my bank account!
By doing things that way my wife has no cause for complaint - after all she had a TVR and it was understandable that I'd want a convertible sports car to drive about in..and there was no risk to house and home or lifestyle.
As to how I was perceived? I don't know to be honest. Porsches aren't exactly uncommon round our way and no-one has any way to tell whether or not you are in hock up to the eyeballs to pay for it or whether you bought it from spare change...so I guess they just thought Don got a nice car....I suppose.
Whatever. Congratulations on building your business to the success level required to support such a purchase - and ENJOY the reward - I know you will...
I look at it this way with my 996, the day i need the money it will have to go. But until/if that happens i will just enjoy the moments. Also speak to your accountant and ask him the most effective way to offset it against your business. If not e-mail me off forum and ill put you onto mine (a massive car enthusiast which is handy! 
)
)Gassing Station | Porsche General | Top of Page | What's New | My Stuff