Can I afford this 981?

[DM1983]

Hi,

I'm looking to buy an approved used Cayman 981 (2.7) manual, 4-5 years old with around 20k miles on it for around £35k from a Porsche centre in the UK. I want to see if I'm biting off more than I can chew.

I have just shy of 50 grand in the bank and my average monthly saving after mortgage, bills, food, fuel and booze is £993. No outstanding debts apart from the mortgage.

Previously the most expensive car to run that I've owned was a Merc E200K in Dublin, which worked out at euro2100 for insurance, euro800 for tax and around euro500 per year at the mechanic, and 31mpg.

I currently have a Merc CLS350 which is working out at about £1300 a year for insurance (£720), tax (£305) and repairs (£300 or so) and 26mpg.

I've been quoted £605 for insurance for a Cayman 2.7, and it's £295 for the road tax.

I'd be looking for Porsche approved used only, and intend to do everything at the dealership for the first 2 years, will consider options after that point.

Am I being realistic, overreaching myself, or being too conservative?

Thanks,

[DM1983]

roadsmash said:

Is financing out the question and a dirty word for you?

You clearly have enough in the bank for a very nice deposit and could just spread the rest over very manageable payments over 2-3 years.

Your disposable income is more than enough for scratching the itch.

I've looked at financing options and decided I'd prefer to pay cash.

[DM1983]

Woody John said:

With your financial situation why dick about with a baby porsche? Get a 997.2

I considered a few 997s, but what I find is that (maybe it's just where I live - Northern Ireland) you'll see a 997 online for 30-35 grand from either an independent dealer or a private seller. You go and take a look at the car, you look at the log book, and the guy hasn't gotten it serviced in 5 or 6 years, and he's been getting once a year oil changes at McGinty's garage down the road for 80 quid a pop. And he's got made in China tyres on the thing. And you almost have to fully let the clutch out before it bites.

There is a 2011 997 up at Belfast Porsche centre for £47k, but I'd prefer a newer, lower mileage car, and I don't mind starting off at the bottom of the ladder and working my way up.

[DM1983]

roadsmash said:

I’m starting to think the OP (1 post) may be a troll although can’t be sure.

No, completely legit.

[DM1983]

V800MJH said:

That is absolutely affordable! Without a doubt.

Why wouldn't it be? What are you expecting?

Expecting it to be about the same as running a mid size Merc. Just don't like to leave a stone unturned, and wanted advice from people in the know as I don't know anybody who owns one.

[DM1983]

Gio G said:

OP - given you have driven a bunch of Merc turbo diesels in the past, which probably have a decent slug of torque, I would suggest you get a good test drive of the Cayman first, as it will not drive like a diesel. I owned a 2.7, lovely cars and a good place to start your first Porsche ownership. Just don't drive the S afterwards

G

Both my Mercs were petrol, but yes, the Merc engines especially the 3.5 litre V6 have all the torque around 1200-1500rpm and they basically fizzle out above 3000rpm. There is no point is wringing out a Merc engine.

I have test drove a Cayman and a Cayman S. I found the base Cayman more satisfying because you have to really push it hard.

[DM1983]

pete.g said:

I ran a 981 2.7 for 2 years.

I had one OPC service in that time for £620, insurance was around £500, though I was in my late forties at the time.

They are quite economical cars if you are on a long motorway run - you can get into the high 30s without driving like a granny.

If you have £50k in the bank I would press ahead - you'll enjoy the experience.

Thanks.

The sort of driving I'd be doing is 3 mile commute back and forth on weekdays, and at the weekends blasting round mountain roads (there's a superb mountain pass with a 60mph limit just north of Belfast) and doing the Porsche club Ireland monthly drives.

[DM1983]

pete.g said:

I wouldn't recommend a 981 for a commute like that - I always ran mine as a third or fourth car and used the Porsche for longer runs, Sunday drives, etc.

Have you ruled out a Boxster? They're more common than the coupe 981 and there seems to be a bit of choice in NI, whereas there are no Caymans fitting your spec.

In your shoes I'd get the 987.2 CS that George McMillan has for sale and get a hybrid for the commute.

On the Boxster thing, I drove a friend's convertible Audi before considering the Boxster and nope, I will never buy a convertible. The roof would never come down and if it's always going to stay up, you may as well have the benefits of a hard top.

As for the whole lack of choice in NI thing, basically if you live in NI and you want the right car, you have to fly to England, test it at a PC there and get them to ship it over, which they do free of charge.

I've been in contact with George McMillan and he seems decent, but that 987 Cayman S has around 70k miles on it if I remember correctly.

[DM1983]

jonny70 said:

How much is your CLS350 worth ? (Surely that’s a decent chunk of the 35k you need to buy the car before touching savings)

I've just agreed a price with a buyer, it forms part of the slightly less than 50k starting lump.