I?m back

Just when I thought I was out, they pull me back in. A gentleman who won my car on auction was suppose to buy my car last month. Anyhow he was trying to get his financing together and after two banks, we agreed to hold off until Possibly until October. The increase in rates was throwing him off. Anyhow, its bittersweet. I wanted to get a more affordable, easier DIy car but I also get to enjoy a GR 996 C4S for the unforeseeable future. Anyhow, hoping for no issues for a while. I�m planning on driving a lot.

Not sure if I should commiserate or congratulate. Financing issues are probably going to become more and more prevalent for a while. Enjoy the car.

Hmm... wondering how sensible it is to try to finance a 20 year old car with known issues... Are there any banks even that would finance a pre-classic 911 with 20 years age? I'm guessing once it hits the curve of value increase sure, but right now... in this looming recession... with increasing rates...

Exactly. Who finances a 20 year old car? And who shops for a car, knowing they need financing, and don't already have it lined up ahead of time?

A lot of people like to keep money in investments and try to pay less in interest expense than they make in investment income. Not me but people do. I do think that if you buy a car, you best have cash ready to go. Luckily I didn�t buy something thinking I was getting paid.

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Not "lucky". You were smart.

Argeo, Was this a BAT auction? What happens to buyers who win and don't pay? That part of an auction seems as aggravating as trying to sell your car on Craigslist. When a buyer does not pay will BAT list the car again for no charge?

No, I ended up doing on PCAR market because I didn�t feel like waiting and dealing with all the questions. I was lazy. I had on the PCA sight for sale and PCAR reached out to me and made it real easy. Unfortunately it appears buyers aren�t obligated I guess. Im probably not the norm. No problem with PCAR, I should have asked. overall I can�t complain. It�s a gorgeous car, it�s just a bit much for me and my neurosis. I worry too much.

Incase you haven�t seen.

Seems to me you and your car lucked out. Welcome back. Let's make it for good!

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I do. Could have paid cash but why? Money was cheap, interest rates were lower than historical return of the market.

Something tells me that if you can't pay for a 996 up front without a loan you're going to have a hard time maintaining the thing. No matter how good shape it's in, things will pop up and if you don't wrench, things will be even more expensive.

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Nope, no issues with maintaining it at all. Nothing wrong with buying things in cash but assuming people can�t afford it because they use a loan is a bit presumptuous. Most people buying high end cars don�t pay cash. There was a good Vinwiki video on how people buy exotics. As I�ve said elsewhere it�s just a matter of budgeting and personal finance for us mere mortals.

For the records, I took a loan out when I bought my 996. Not everyone has $25K sitting around. Well, except for the people on the internet.

Your car is awesome. I love it. As to you wanting to move to a more diy friendly car, the 996 is very hit and miss; some repairs are very easy DIY and some parts aren�t that bad for price while other things are really challenging to fix or the prices are really ridiculous.

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This happened to me when I sold my convertible. No regrets, I love this car and enjoy it every day! I wish you a lot of fun with your car!

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Paid for mine with a stupid low interest rate through the credit union. Paid it off early, and could have paid in full up front, but by not was able to put that money in other investments. This didn't prevent maintenance either, did $3,800 of work right off the bat, and have since done more. Not sure where the others are getting their information from that taking a loan equals an unmaintained car or that someone can't afford it. As they say, there's more than one way to skin a cat. Argeo, that's a beautiful 4S. Glad you get to keep it, admittedly I've been in the do I sell or keep boat a few times lately as well. Best of luck with whatever you decide!

Best to buy cash. These are not objects of necessity, but a want. Hope it works out for you in the end.

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Yeah, I suppose you're right, if you can get a very low interest rate but a 996 is pretty far from an exotic and not every bank will want to finance a 20 some year old car. I definitely get financing a Ferrari or similar though! My comment was mostly in terms that you need to be honest with your finances because it's not unheard of to need to drop another $5k+ after purchase to address things. You just shouldn't be stretching yourself financially on a 996. Loans are getting more expensive by the day too. When I sold my Lexus right at the start of Covid the buyer was able to get his credit union to give him a loan at only 0.9%! I'd do that!

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I think that if a person is having difficulty securing financing, that tells me that there may be issues with that person's reach. I am speculating and could be wrong, but this isn't a $500,000 deal. In some cases it is sensible to use someone else's money, but to delay a deal (for months) because of financing difficulties tells me that they are not really that interested in the car and/or are stretching their financial limits. This is just my ethos, but if I were to make a deal for a car, I would consider that a commitment to the seller first. If one preferred avenue of financing didn't work out I would quickly do it another way (i.e., cash or different financing) and worry about refinancing after the sale.

It was a long road. I pulled off PCAR. They contacted me a week later and said there was a buyer and wanted me to put back up. I agreed and he committed. A bank from CA then reached out to me and I had to do all this stuff to time stamp the car. Using their app, I had to take pictures from multiple angles, inside and out, the title, my license, me. After this was complete, the buyer did not want to use them because the rate was higher than expected. Well he moves on to bank 2. The buyer then has an appraiser come to my house to get lower rate and give him a report. Report came in at 41.5k which is more than I�m asking and surely enough to get the lower rate he wanted based on the value he needed to come in at. The bank then reaches out to me to fill out an intent to sell form and pictures of the title. The bank then complains because I left the loan amount out (why would I know loan amount) and the title picture was black and white or crimped so they wanted new ones. At this point I just told the buyer to forget it due to the aggravation. Anyhow, He says it hurricane season in FL now and he has no place to store. He will supposedly contact me in October. I�m not holding my breath. I think the buyer has paid 1750 for auction fee and appraisal (275). Too bad, nice guy. Anyhow, I�ll just drive and hope nothing brakes. Took out last night after a month or so of not driving. Quite enjoyable actually.

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You are much more patient than I am! I wouldn't have jumped through the hoops for the first bank much less the second bank's B.S. Enjoy your car it is a beauty.

Argeo, you own the hottest 996. Everybody wants one. Best case you keep it serviced and in great shape and it will be worth a substantially more way off in the future. Worst case, you keep it serviced and in great shape and you drive it and enjoy life, and maybe you get your money out of it, which is more than we can say for most cars. Just happy to see that it didnt go into the hands of someone that would not have the money to maintain it. But maybe I am looking at it the wrong way. Maybe us 996 owners should be cheering on those that destroy their 996 from lack of service so there are less available on the market.