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NewYorkBuck

Do not read this title
Ok all - I need some advice on a rather major purchase and Im looking for some input. Next month, I will be moving to a new place that has a garage, so I will be making a car purchase within the next month or so.

Here is my quandry. In short, the car that Im looking to purchase is a Porsche 911 Turbo, either of 1997 or 2002 vintage. I like the 993 styling, which explains the '97, but the 996 is such a good car I would consider the earliest edition thats not the first year, which is the '02. Both of these cars, esp the '97, were the cars that I used to dream about. Kinda like the girls in Playboy - the stuff you dreamed about but could never have. The reality for me is now I can have it. It's one of the fastest production cars ever made, handles like its on rails, and brakes like an arresting cable on a carrier. Also, few rides this side of a Ferrari are better head turners. Thats the good news.

The bad news for me is the obvious. Those of who are familiar w my posts by now probably have a pretty good idea that Im a relatively cheap bastard. Eg, for the last five years since I graduated from B-school, I have saved roughly 65% of my take home income. The damn thing is going to be a $60k-$80k purchase, which is quite the shock for someone used to saving so much. This is not to mention the added expense of maintenence (ching) and insurance (cha-CHING). It all adds up to a nice piece of change. Adding on top of this is the worry of every time that I need to park the thing that someones kid is going to open their SUV door into my side panel. Another consideration is that this will be my only ride (I have only one garage space), and will therefore need to bring it out when I have to in all conditions - rain, snow, whatever. I know its not good to let a car sit, but I dont think bringing it out on salted roads is the best idea either.

The rational side of me is telling me just to go out and get a VW Golf or something for like ten grand and call it a day and never have to worry about it. The more I think about it, the more traction that this idea is getting. But the devil in me tells me that I am a 37 year old man with no wife or kids, and I can hear it right - "Hey - you could be dead tomorrow - then what good is all that $$ of you dont spend any of it?"

My question to all of you is - if you were in my shoes, or if you have been, what would you do?

Please advise. Thx!
 
"Hey - you could be dead tomorrow - then what good is all that $ of you dont spend any of it?"
Put me in your will and get the VW. :p

My advice would be if you have the money and it isn't going to put you in the poor house to do it buy the car and take Charlize for a joyride.

Personally I would look for some middle ground between $70K and $10K. Isn't there a nice $30K car out there that you wouldn't feel too bad about getting messed up and can handle all road conditions?
 
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I'm not sure I'd take it as my only car. I guess it depends on what kind of car you want. For a convertible, the 330Ci goes for about 45k.

Hell, I'd take an M3 convertible for 55k way before the Porsche.

For something cheaper, I've heard nothing but good things about the TSX.
 
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If you go for the 996, especiallly an 02' you should be able to find one that still has warranty left on it. Even if it is only for a few months, you should be able to figure out if it has any bugs by then. There are a lot of them out there right now so you should be able to get one for a good price.
 
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You may want to do the double car route, if you have access to two garages. If you have the ability to get the car of your dreams do it. If you are afraid of the life being beaten out of the car from weather and every day wear and tear just get a beater and use the porsche for special occasions.

Yeah, it may not be practical but it sure we be fun. If you are planning on getting married and having kids you won't be using that vehicle to pick up formula and diapers, so you are going to have to get something more "practical" than a two seater sports car for the family.

Heck, if you really baby the thing it might be something to pass on to the kid later in life.

If it were me I would buy it. Let go of the rational side of your brain. A Porsche 911 is not a rational car. You've busted your ass to be able to be where you are. If you cannot reward yourself and get something you have always wanted why have dreams and work toward them?

Edit: Do you have these arguments with yourself when you get a good meal, take a nice trip or buy nice clothes? This is obviously more expensive, but the same arguments you are using to convince yourself not to buy the car can be used on anything you buy.
 
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If you are used to using public transportation, buy the Porsche and only take it out to have fun. If you are making 6 figures you might as well enjoy it. Using a vehicle like that as your everyday ride in NYC might be a bit dicey,tho...
 
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are you shittin me ... you should buy your dream car... REGARDLESS of cost... and enjoy the hell out of it... plus, you'll probably keep it for 40 years... so Charlize can use it for your casket and bury your cheap butt in it...
 
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Gents - Truly thank you for your contributions to this. Is a very tough decision for me but everyone here did give me some extra insight.

To respond to everyone, I probably should expand upon my situation a little more.

The first thing is that I am moving out of the city (right across the river in NJ) for two reasons. The first is my girlfriend is leaving her job in August to go to law school in Philly, so it would be silly for me to pay for a large apt. in NYC for only moi. The second is the amount of money I will save in NYC taxes (roughly 4.5% of my salary) will in itself pay for a big chunk of said automobile. Adding this to the fact that my new pad is nicer, cheaper per sq ft, has a balcony w a view of NYC, a free gym, and covered parking made my choice to move all the easier. So my commute will be 15 min longer - 30 total - no biggie.

Back to the car, it would be ideal to have a second car as a clunker, but the fact is in my new place I am only allowed one reserved parking space. On the flip side, I will not be using my car to commute to the city at all. NJ Transit buses leave every five min from my complex. The car would be primarily used for the following purposes - 1) General entertainment, ie, raising hell on back roads after 10 at night. 2) Driving down to Philly on the weekends to see my gf. 3) Shopping/errands. 4) Trips down to the Jersey shore. Very infrequently will it ever be driven in NYC or in rush hour traffic if it can be avoided.

I anticipated that others would suggest other cheaper cars between the VW and the 911tt, but to them I say that I must admit that I'm a lifelong Porschephile. It to me is the ultimate expression of automotive engineering, with the Turbo sitting at the pinnacle. A trader in my firm has a 2004 911 Carrera, and he said I should just stick with that as it is plenty fast enough. But for me, at the margin the extra for the ultimate in the Turbo is worth it. So as irrational as it sounds on the surface, for me its either the Turbo or a shit box.

As far as what this will do to me financially, trying to sound as humble as possible, it really won't mean that much on my month to month expenses. What it will do is push off my "Fuck You Day", and this is perhaps what is holding me back the most. For those who don't know - Fuck You Day to me is the day that I have a predetermined amount of liquid assets such that I can go into work and say "Fuck You" and walk out and not have a care in the world when I leave the building. I estimate now FYD for me is about 10 years or so away. With the effects of compounding the purchase could possibly move that day out a bit. Hmmm. When I say it that way doesn't sound so bad......

As many have probably conjectured, this ramble ended up me talking this out w myself as much as it did answering you all. Once again, thank you all for letting me indulge. I think with all the above in mind, I'm going to go 911tt shopping this Saturday. If (when?) I ultimately get one, perhaps Ill post some pics to see if you guys think I made a good choice. Maybe Ill have the gf get into one of the pics and you can tell me if I made a good choice there too.... :wink:

Seriously, thanks to all again.
 
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NewYorkBuck said:
As far as what this will do to me financially, trying to sound as humble as possible, it really won't mean that much on my month to month expenses. What it will do is push off my "Fuck You Day", and this is perhaps what is holding me back the most. For those who don't know - Fuck You Day to me is the day that I have a predetermined amount of liquid assets such that I can go into work and say "Fuck You" and walk out and not have a care in the world when I leave the building. I estimate now FYD for me is about 10 years or so away. With the effects of compounding the purchase could possibly move that day out a bit. Hmmm. When I say it that way doesn't sound so bad......

It may push back the "Fuck You" day, but it will help soothe the soul on those "Sons of Bitches" days where you are pissed, but not enough to give the old FU.

Hey, but if you want to wait that is fine. You can be a really cool 50+ year old in a Porsche Turbo doing 5 miles an hour below the speed limit in the passing lane. Buy the damn car!!!
 
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NJ-Buckeye said:
wanna bet NYB uses a credit card.. so he gets free mileage.. and then pays the statement cash... first month it comes

You may be on to something. I would bet he does not take vacations because he would have to spend money and that would mean being further away from FU day.

This is now the official "Guilt NYBuck into buying his dream car." thread.
 
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I can tell you right now. The day I see a picture of your 911 Turbo, w/ Charlize sitting in it is going to be "Fuck You!" day for me.:wink2:

Good Luck, even if you only keep the car 6 months, which I highly doubt. You will never regret having it. I can guarantee as long as you own that car every single time you get in you will smile. Plus besides your girlfriend being there, the car would be the only good thing about going to Philly.
 
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Gentlemen, this is gf speaking in my inaugural posting on the forum. Firstly, go Buckeyes!! Secondly, thank you for your words of wisdom in helping NYBuck to pull the trigger on his dream car. Over the past several months, I have been suffering in silence as he tries to resolve his cheapness with his lifelong desire for this car.

Selfishly, I am terribly tired of his requests to watch the 911 promotional video... no doubt the purchase is significant, but the entertainment value that he would gain from this car (coupled with the joy I would feel to no longer pretend I know, or care, how important engine cooling is) far outstrips the price tag. Please convince him. My 93 Corolla and I thank you. :wink:
 
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