Old Porsche Values

[Paul Crowther]

I read a terrible thing in Excellence (I think) that stated that due to high repair costs, continued ownership and repair of an older Porsche with BIG problems make no financial sense.

An SC or other middle-years model that may need a lot of expensive engine and/or bodywork could have a cost far exceeding market value. You could buy a newer car for the same investment.

I know that many of you are unable (like me) to do the more extensive (read expensive) repairs and happily pay a mechanic if you can afford to. I've been lucky to have found a solid SC that I drive regularly. I think I WOULD spend $5-8K to keep it as part of the family.

How do you other guys with older Porsches feel about this? My wife doesn't even LIKE the new Porsches!

Paul

[yelcab1]

I do my own wrenching, and that is reason enough to keep it around.

[nostatic]

when did ownership of ANY Porsche make financial sense? It doesn't. Next question...

If you love it and want to play, you have to pay. If you turn your own wrench, you pay less.

[Zeke]

What Todd said. It doesn't make much sense to drive an old car of any type as a daily.

I didn't say it wasn't fun to drive it every day. Many of you do.

A little OT, but when I get in the car on the weekend, it is a real treat. i don't even think of the shortcomings, and there are many with mine.

[moazam]

Originally posted by Zeke
What Todd said. It doesn't make much sense to drive an old car of any type as a daily.

Well, I could be driving a brand new car every single day and paying $400-$900/month in payments. I'd still probably have to get regular maintanence work done which could run $1k-$3k/year (oil, tuneup, tires).

Either way, you're screwed. Unless you're driving a Civic or a Corolla, driving almost any type of car can be financially draining..people just dont realize it.

[Lukesportsman]

I recently purchased a 72 and having a 2.7 MFI installed. I will plan to go RS or RSR clone in the future. That said, old Porsches seem to be one of the worst classic car investments. My Mustangs are much more cost effective based on their value to maintenance cost. Old 911's fall into the same category as many recent classics from Ferrari. Their engine and transaxle may cost more to rebuild than the value of the whole car. 308's come to mind here, but at least we can buy aftermarket parts and more easily improve our rides. This is for fun and not fiscal sense isn't it? I always laugh when someone paints a play car a particular color to possibly increase resale in the future even if its not their choice.

[HarryD]

I saw the article and had to smile.

I face that truth each time I turn the key.

But who said hobbies are rational? I always thought that hobbies were a place to spend your money so you don't spend it on something stupid.

[Rouxzy]

We all live in a world of choices. I choose to spend my money on a 911 that I've always wanted, and I'm doing it before I get too old to really enjoy it. Others save their money for a rainy day. Unfortuneately, far too many rainy days are those of others after you're gone spending your money. Like I said we all live in a world of choices. Besides my Porsche has cost me far less money than the stock market has over the last five years. So, which is the better investment?
Tom

[mwbaum]

According to Bruce... my "Old Porsche Value" seems to have gone up about 30+ % since I bought it at the height of the bubble years in 1999..... (356

[jaudette3]

Buy a 1969 - 1973 911S. You'll have a blast and you might even *make* money.

John Audette

[Aussie]

You also have to factor in depreciation. It is usually the biggest expense of owning a car, yet most people ignore it.

Old Porsches are not really going to ever get much cheaper, pre 74 cars go up in price each year.

Take a new car Ford or what ever, after 3 or so years you will have wiped of about half the price you paid for the car.

If you own a old porsche and a new car of the same value for 10 years each, then sell them after 10 years, and work out including depreciation, what each car costs you to have per year, I don't think there would be much difference.

You still have to buy brake pads, oil, filters, smash repairs, insurance and lots of other things on a new car.

Its just that most people see a new car as being a "need", where as having a old porsche is more like having a "nice to have" item.

[PorscheRB]

Nothin but a money pit, even though I do my own wrenching.

There's truly no substitute... especially when you blow the doors off some ricer without even shifting outta 3rd. It's so worth it.

[Sonic dB]

My 86 is a very solid, reliable car. Ive driven it more than any other car that Ive ever driven...and its been as reliable as any Toyota or Acura that Ive owned.

That having been said, I would not feel comfortable using any pre-84-89 911 as a daily driver...but thats just me.

[Porsche]

I drive my 77 everyday, and I do it as a choice - I know it costs more in terms of fuel, maintenance, and repairs, but in life, you only live once.