I'm going crazy..Need advice

Here's the deal. I currently drive a 2002 A4 1.8t sport and my wife drives my former car, a modded 98 Passat 1.8t. I recently wandered into the local Porsche dealership here in Vegas and on the lot was(is) a 1999 Porsche Carrera Cabriolet with 8,600 miles on it. It looks and drives beautifully. Dark grey metallic over light grey leather. Black top and hard top. Here comes the issue. I recently started my own business and have been doing very well. Things are looking very positive for the next 6-12 months work wise and I just gained another big client. However, and this is a big one......I really can't predict how things will be in the extended future. And while all indications are that things will be solid, you just never know. To answer the obvious question, yes I can "afford" to buy the car. But what I'm still left to decide is whether or not it's a responsible decision. On one hand, here's my window of opportunity to buy my dream car. On the other hand, I could save a lot of money by not purchasing the car. I think I'm really venting here more than anything else. I've been torn for over a week and have wavered from having my finger on the trigger to say F it and walk in there and buy it, to thoughts of "What are you crazy"? Anyone with insight that can help me think this through, please post. BTW - The sticker in the window says $58k. Am I nuts to think that if I walk in there with $48k they'll sell me the car? Thanks. Peter

I don't think values will be any better than they are today for purchasing a Porsche. If you go in for 48K if they're interested they will attempt to split the difference. How don't know how long you've been looking, but with all the 996s available, you hcan easily pick and choose. Good luck!

Vegas: There is never a secure time in self-employment. Trust me as your income rises so too will your standard of living and you will always rely upon a certain level of business (I am a self-employed tax acct.). Set your price and stand firm. If you get it for the price you want than you know you got a deal and have significantly reduced your depreciation risk if you need to sell in the near future. My wife and I have owned several Audi's and they are great but they don't compare to the 911. Make your offer and go for it . . .it will give you a greater incentive to build that business. In the end the 911 will make little financial difference,; what will is your attitude and agressiveness in pursuing new clients.

Check your logic: - You have the financial means ask the "responsible purchace" question. (It's ironic, but financial security also gives you the freedom to wait). - You "wandered" into a 2 - 3 year old USED car. (Sounds like it found you vs. the other way around). - Now it's your dream car, and you feel pressured by a window of opportunity? If your business continues to do well, wouldn't additional opportunities arise to buy another dream car, perhaps one that you specifically order to your exact preferences? Is this really your dream car, or are you just dreaming about it all the time? There is a difference: I gave up my first 996 to drive a 740iL and for 2 years couldn't wait to get back into a Porsche. During that time, I drove my wife crazy with the endless ramblings on the pros/cons on all of the "opportunistic" low mileage 993's and 996's I found on dealer lots. In her wisdom, she finally told me: "Look, if you're going to go back to a Porsche, get the one you REALLY want. Those others were configured by someone else, and you'll find some reason to want a different one in less than a year. Stop tip-toeing into the decision and go order YOUR car". So I did. It's now more than a year later. And I still dream about a Porsche... the ONE in my garage.

JUST DO IT.. WAZ

My thought is that if you really have enough reservation to be asking others opinions, I would not do it. There are alot of cars out there and there will be plenty when you decide you can do it without so much worry. The first 993 I bought, I ended up selling because when I got into a cash flow crunch I just felt guilty and it was a source of "controversy" with the other half. That was back when I started my self employment endeavor a couple or three years ago.

on a serious note, well said john.. just be patient Peter and beleive me you dont want the car if it's going to inflict pain somewhere in your subconscience.. as such, the car will never 'build into you' the way it should... waz

Well, I'll give my 2 cents, with my experience purchasing my C4S. 1) Being a porschephile, every car that I came close to purchasing felt like THE car. I was looking for a 993, ended up buying a 996 C4S, very glad I made that decision (993 being 7-8 yrs. old, and the sophistication of 996 did it for me) So, if this car is a no major compromise. GO FOR IT. 2) I have a steady income, I am not the business type, I can't live with uncertainities. So, I can't help you there. But spending $80-90 k on a sports car is never a logical decision, It makes absolutely no sense. BUT BUYING THE C4S WAS THE BEST GOD DAMN DECISION I MADE IN MY LIFE ( next to marrying my wify ofcourse )

As said earlier, it appears you have serious reservations so I would hold off. Most small businesses fail within the first 5 years mainly due to being under capitalized. I would leave your "dream car" money in the bank as financial insurance for your just started business. Also, $58K, even $48K for a 1999 996 Cab? Even with the low miles, those prices are ridiculously high. In a year, you'll be able to find one under $35K.

patience, patience, patience... just never lose hope. waz

I see it as very simple: it's a bad idea to spend that much on something when you're just not sure. You'll feel much better about the choice if you feel more secure in your income/savings. Then again, you could die next week and you'd be pissed off if your life didn't include a Porsche. BTW: $48k isn't that great a price, even with the mileage that low. You should be able to get a top-grade 996 cab for under $45k at this point. Resale will stay marginally good, so the total cost of ownership after 3 years will be less than buying a new Camry over the same period of time. You'll only be out tax and the depreciation, which shouldn't be that bad. Oh, and you'll be out all the upgrades you stick in one-at-a-time (like I did, blowing my TCO theory right out the window!). So in a way owning a used Porsche is a great buy, less money than other choices over the long-run...

Hey, I coulda' been the Captain on Flt 11 on Sept 11. Just thinking of that afterwards helped me to decide to do some "living" while I can!!! Nothing is guaranteed...Health , wealth or happiness. Still plan for the future but consider doing the amount of living you can afford today. After all...Not many people on their death bed say "Gee, I wish I had spent more time at the office!"

You only live once and your a long time dead! Waste no time Vegas. Just do it.

Here's my $.02. I am also self employed. I don't know what industry you work in, but I can tell you that it is my opinion that in this economy cash is king. You mentioned you can "afford" the car. There is a big difference between having enough "cash" to buy the car and being able to "afford" the car. Just make sure you can actually "afford" the car without putting your lifestyle in jeapordy. Also, don't get sucked in to the idea that you are making an "investment" in this car. You are not buying a Ferarri Enzo. This car will not appreciate in value. That being said, on this particular car someone else has already taken it in the rear. Lastly, I have to agree with the other posters who said that if you still have doubts, then just wait. There will still be plenty of Porsches out there in six months. Hopefully in that time your business will be even more successful and you can get the 997, configured the way you want, that is coming out for the 2005 model year.

You will be out tax and a whole lot of depreciation! 996's, especially the 1999 model year have taken a huge hit and I don't think they are anywhere near bottoming out yet. Don't be fooled, the cost of ownership will be much less in a Camry over 3 years than a used Porsche. From the sounds of it, there are too many questions so why not wait?

Thanks for all of the insightful replies. The conflict is more in my own head than the $$$. Not only do I have the funds, my wife is onboard!!! Not sure yet which way I'm going to go. I have a test drive scheduled for tomorrow. Thanks again. Peter

Oh, well, if THAT's what you're going to do, then kiss your money goodbye!!

adscab911: I agree that there will be more depreciation, but not at the same rate that a new Camry would. I expect that a great condition 99 cab would sell at the lowest for about $32k in 3 years. This is a $13k depreciation over today's going rate, or about $360 per month (plus interest). Not so bad for a Porsche. I admit to exaggeration re: the Camry, but overall a Porsche is not such a bad deal unless you have major mechanical issues or the market for 99's goes WAY south. Interestingly I think I could probably sell my car right now for about 3-4k more than I paid for it in February, given my additions and the overall soundness of the car. I'd still lose the tax and the gargantuan money I spent on the stereo, but at least it's not depreciating at all yet...

Vegas, I sounds to me that your mind is still trying to be rational, but your heart is made up. And we all know that buying a Porsche is a purely emotional act. Therefore, let me be the first to welcome you to the Porsche community. If I may give one more piece of advice... Do not decide after driving only the 1999. I would HIGHLY recommend that you test drive a 2002 or 2003 model as well. There is a big difference. Also, if you do decide you like the 1999, remember that there are a lot of them on the market right now and you don't have to settle for the one at the dealer. Call around and get one configured the way you like. In the used 996 market, options do not add a lot to the price of the car.

Yes, welcome! And get one with the aero kit! :-D

I've decided to go for it. For a lot of reasons I feel the time is right. Let the search begin...... I'll keep y'all posted on what I find. thanks. Peter

there is no simple answer-if we were all smart, we would drive simple inexpensive cars. if you can really afford it, buy it. but, buy it at the right price. 99 c2 cabs have taken a big hit-don't overpay-the mid to high 50's are way too high. if you buy it for the right price and you get into trouble, you could always sell it, for not too much of a loss. but the two questions are 1) can you afford it and 2) can you buy it at a price where if you have to sell it, you can without a big loss. if you can answer yes to both, it is a safe buy.

Vegas, Welcome and congratulations! As you would have noted from the replies to your thread, buying a Porsche is always emotional (in a good kind of way) .... sometimes impulsive (see my recent thread "Sideways in the new GT3"). Best of luck with your search.

...but not your obsession. Ever met a former Porsche nut? Congrats, and post pics soon! We want to see what we bought. Oops, I meant "wrought" ... what we "wrought" .

You can't rationalize the purchase of a Porsche. But if it stirs the ol' passion, well, life is too short to drive a crappy car. -DT "Friends Don't Let Friends Drive Junk"

Oh, and the "crappy car" thing is a generalization, not slamming your Audi. (My wife has an '02 A6 4.2 Sport, and our 4th Audi). Never have had a VW, though I would imagine it's a lot like an Audi, no? Cheers, -DT

Yes, my Passat does handle very well. I upgraded the suspension with an eibach / koni combination and chipped the engine. The car is tight. The big thing with Audi/VW products is their interiors. Both my Passat and my A4 have interiors that are better quality than BMW and Mercedes IMO. Deals are out there on the type of 911 I'm looking for. Can't wait to find "The One". peter

Vegas, Here's a few things to keep remember about cars. 1) You never can say you have what you want...period.you will always want the better one, which as time moves along, you find new taste, etc. My story tells it all. 2) cars depreciate, so think of it like a vacation that you keep. You enjoy it, its fun, but it will cost you and you can' get it back. Even an Enzo, if you drive it everyday, lets see if that becomes worth more than what you paid. Wreck it and you lose it all regardless if you have insurance you still lose. Burn a house down, you have fire insurance, you keep the property, and build a new/better one. I have always been a car enthusiast since I was 14 and after over a decade I still am one. I started with a Nissan 240sx, Corolla, BMW 3series, SLK, 996, and now an ML500 (family car). I basically bought a new car every 1.5 years. Of course cars were on my top priority before I got into my own business. Since then things have changed. Hopefully this would give a good example of what a car can do for you. From my 240sx I got a bucket corolla and put more money into it my parents said I was stupid, but I said no, with all the mods I've done, its better than a 300ZX because I customized it with just as good parts. I had a sleeper corolla that pulled into the 15's which was fast back in the early 90's. Then I realized I wanted more plush and luxury, so I got a BMW it had just as much speed, but more class and luxury. Then I got an SLK which was supercharged and supped up again, just as fast and luxurious as a BMW but convertible and pimp at the time. I hit the jackpot in 99 and cashed out big time in the stock market, paid cash for a new 2000 996. I paid 88.5k out the door and added 15k worth of mods. I planned to order the new F360 at that time but overextended myself as I was also opening a startup funded mostly by myself. This trend along probably similar to other car buffs shows that you can never get enough satisfaction which is why nobody will be driving their car forever. But to prolong your moneypot that will keep allowing you to buy cars, you should stop at the point where the car will prevent you from moving a step higher. Realize that if you're taking a step too far where your biz investment funds will be affected, don't do it, otherwise you might end up like a few people I know who had new cars 5 years ago were the man of the block with their new car, but was unable to carry themselves forward by preserving the core. (it takes money to make more money)

I appreciate all of the conservative comments I've received on this board. It shows me that the community here is responsible and not a bunch of wannabes that overextend to drive a sportscar. Wow! How refreshing! A board where you receive mature feedback..... The finances are looking good right now and I've figured out a way to comfortably fit a used 996 into the budget. Hopefully many of you are enjoying a sunny Saturday cruising around in your 996's. Peter

I agree with Waz... screw financial responsibility! You are never ever going to be stable enough. Even if you have Waz's kind of cash it could all evaporate because of some irresponsible action on somebody elses part that impacts you. Just do it...you only live once (and during that time if you can afford to, don't miss the chance to experience a Porsche). (of course it your wife kicks your azz for buying I am goona tell her i was dirinking at the bar when i gave you that advice!

I made an offer tonight. Dealers are closed in Vegas on Sunday's, so I'll expect a call on Monday with the usual blah blah.... I made an offer on a loaded '99 C2 Cab. It's Seal Grey with a black canvas top and hardtop. Interior is light grey leather. It must be a late model '99 because the taillights and headlights don't have the orange reflectors and the steering wheel is 3 spoke with raised badge. It has the 18" SportClassic rims which I like, but I may ask to swap for 18" turbo look wheels. Not sure on that one. The car would come with a 2 year b2b warranty, wind screen, 6 disc changer etc... It drives so sweet. I can't believe how solid the 911 is...... Best part, it only has 8800 miles on it. Peter

how much did you offer?

I had been out of Porsches for 10 years. I had a health scare in March (I am fine.) Did two things when I got out of hospital: 1. Bought more term cover 2. Bought a 2002 C4. Regret neither. Don't know your personal circs, but if you can afford it would go for it. You will feel good and incentivised and make your business a bigger success.

I offered 45k.

if you can get it for that price, you've done well.

I think you've said it well, Dirk!