When to stop sinking money into it

[burgermeister]

It's a hobby ... and ought to be fun. Old cars, old houses, woodworking (I've tried all 3) - it's simply amazing what you can spend on a crazy hobby. Sky's the limit. Well, actually, the budget is the limit ...
In a rational sense, all of it is money down the drain. Rational people live in an apartment with a small TV and take public transportation.
In a yet more rational sense, what good is money if you can't enjoy the way you want?

If you don't enjoy spending the money and time on the car, it's time to stop. Or, when it's not 'play money' anymore. Otherwise, why not keep a good thing going??

[Dixie]

My Question is when is enough. When should you stop sinking money into a 84 911 with nearly 270,000 miles on it. There is no way I could ever get a fraction of the money back that has been put in this car.

You will only get a fraction of your money back on any car, new or old. Therefore, the answer to "when is enough" is this. Enough is when the money you're spending no longer garners the joy you expect.

[Red88Carrera]

You won't totally realize what you have until it's gone. If you've lost 'the sickness', then I guess it's time to let it go. I am relatively new to the Porsche addiction, but I can tell you this... I look back on all the muscle cars I have dumped boatloads of $$ into, and I wish I had every one of them back. I got tired of throwing money at each one of them, so I sold them. Today, my only regret is not keeping them. Not because of the increase in value, but for what the car should have meant to me at the time I sold them. I learned that too late. I won't make that mistake with my Carrera.

[myfast911]

MEKA, i did not mean to offend you.i thought this was a fun subject.as for my fleet, it is nothing compared to others on this board. i only own 3 of these money pits. all in good fun.

[Formerly Steve Wilkinson]

You didn't mean to offend him? Telling him to "grow up"?

[911mnypt]

Let it go my friend and spend it! Like has been said before, its how it makes you feel. I just spent $5k on my 1980 911sc...I love that damn car and it makes me feel like a kid again! The pleasure I get while ripping around the neighborhood is worth its weight in gold.

Cheers,

[Mitch Leland]

All of this is dependent on your discretionary bank account. I don't think there's anyway you can buy a 20 year plus car without either paying the previous owner for his time and money, or be prepared to put your time and money into your purchase.

I'm sorry, buy when someone says the car is only worth $12,000, that tells me that there needs to be another $12,000 spent to make it right.

[ldortiz]

I think Doyle's observations are right on. I've had my 86 Carrera for almost a year and so far no problems but like he said I always keep my ears open for that "funny noise." I also follow the daily blogs of the Pelican masters to get insight to what may happen or better, what to look for. I love my car and have been obssessed with Porche's since I was 10 years old. I understand the feeling of driving it through the twisters. But I have to tell you, I think that it is nuts to pay 15-20k for a car and then put 30k into it. As was said earlier, some people are passionate about sailing, art, travel etc and it can be expensive so to each is own, whatever makes you happy.
In an earlier blog a Porsche owner wanted to know how much we've sunk or perhaps a better word, "invested" in our automobiles and for what services or upgrades. I continue to be completely amazed at the money going into these cars. Unless there are alot of lemons out there I would like to know what people are doing when they spend 25 grand on their cars. Again, I'm not judging here how people spend their money, I just can't see spending anything more than for upkeep even it it means a new top end. But that's about it. But in the end, whatever makes you happy.

Leo

[charleskieffner]

you know this has taken on a life of its own. formerly steve wilkensons book sums it up. alot here have summed it up. its when you dont enjoy it.

now lets see what else you can do with your bucks.........

working at an airport i know first hand the costs assoc. with flying and the downsides. many here can attest to that. buy a plane means buy a hanger and buy an A & P mechanic if ya want to live. or......build an experimental and see how much you dump into it.

take up scuba diving, and underwater pics and cold water dry suit diving and watch the benjamins fly out yer pocket.

take up off road racing. wanna win overall???? buy a one off trophy truck and race w/the likes of robbie gordon. or a class "1" car ????? or buy a turn key mirage 1/2 1600 car for about 50K and buy a pre runner and all the spares and support vehicles and trailers and pit crewmen etc.

or take up firearms especially the full automatic class 3's.........initial cost will give heart murmurs and feeding them bullets belt/clips will knock benjamins out of your wallet at a pretty hefty pace and dont forget the mongo safe to store them in. and ATF showing up when the local bank is robbed to see iof there still in yer possession.

take up hookers at a $1000 an hour at the moonlight bunny ranch outside carson city, nevada(my fave), dont ferget the tip and all the drinks! i could easily go 4-5 times a week and really enjoy myself! hell of a drive from phx 4-5 times a week!!!

so all in all in the big scheme of life it aint squat. if your like most of us here its not a daily driver. mine is purpose built for the track but still has a plate when i want to terrorize the countryside away from towns and people. my ultimate goal is to run the panamericana carerra in mexico. in the FUN CLASS just to say we did it.

i have done some very cool/crazy/goofy stuff in my life, and i wish i had a video of my life to prove it all,but honestly there is nothing better than having someone male/female/young/old/white/black/pink/brown/oriental/martian/ come up to you and say:

1) "thats a nice car."

2) "what year is it?"

3) "thats a beautiful car."

4) "how fast is it?"

5) "how many horsepower?"

6) "do you race it?"

7) "is that new?" swear to god to that one by a guy no less!!???

8) "how many tickets in it?"

9) "can i go for a ride?" hot blonde in safeway parking lot.

10) "your under arrest for breaking all known state traffic laws!" hahahahaha

what other car gets that kind of attention???? ferraris and thats an italian maint thang i will not touch!

[ToddM]

It's EASY to put $25K into a 20+ year old 911.

A paint job will run you an easy $13K, suspension parts alone another $5K, limited slip $2K.. it goes on and on. Every classic Porsche I have ever purchased, no matter how nice, has required at least $2.5K up front into it to make it daily driver worthy and usually it is more around $4K of work to fix all the problems.

If this doesn't seem worth it to you, then DON'T do it.

What you have when you are done, though, is a car that only YOU have and just the way YOU want it.

I drive classic 911s because I don't WANT any other car. I daily drive my car, I drive it 100 miles round trip to work and back every day of the week. It is what *I* like, it is what is comfortable to me, and I truly enjoy the soul of the car. I couldn't give a rats a$$ if anybody else liked it or not.

If you balk at $5K as some unreasonable amount of money over the past 4 years of ownership, for your own sake, go run out and buy a used yet maintained Toyota thats already been through the bolus of its depreciation cycle.

[Charlie V]

Originally Posted by mike monde

Paid 14K for what I thought was a great 911SC. Over a period of 4 years have dropped another 12K into her "sorting" her out.
Sometimes I wonder if I have gone to far?
This queston gets answered when I open the garage door and take a look after a rough day at work, never fails to put a smile on my face.

Same for me. The car is my hobby. The smiles per mile makes it all worth the price - for me.

[MOMO3.2]

Meka:

I have an 87 Carrera with 170,xxx miles on it. And, I don't have money to burn either. When I purchased this car, I NEVER considered what I might get for resale. With the higher mileage and condition it was/is in, I figured I had to get my $15,000 in fun out of it and not look back.

Well, I have gotten that and a lot more over 5+ years. Hell, it was my daily driver for over 2 years and will become my DD again next November when my wife turns in her leased BMW. I have sunk about $5,000 more dollars in "upgrades" and DIY maintenance. I have learned a ton about maintaining a Porsche. I have experienced countless euphoric driving experiences. And, my car is many, many times more fun to drive and look at (IMO) than when I bought it.

I am with Milt. Owning and driving a 911 that has little resale value and is less than perfect is LIBERATING. Sure, I sometimes envy the guy in the PERFECT and original longhood or 74 Carrera, but is he really having near the fun I am... I doubt it.

If you can afford to throw money at your car purely for the fun you will get out of it, do it. If not, you may want to cut your losses.

Mike

[rfloz]

Originally Posted by Meka

Please give me some advice on this.

Advice? Okay. Take it out to the track nearest to you and wring the snot out of it. If you are still asking yourself the same question, sell the damn thing.

I took my 1984 out to Streets of Willow for the first time today. My 24 year old engine hit the rev limiter on the front straight and nearly hit it on the back straight. My 24 year old brakes (albeit with newish no-name pads) hauled it down from 100+ with no drama time after time. What a blast!

Sure, it would break my heart (no to mention wallet) to have the engine blow. But it would be far worse to not drive it to its (well, my) limit. In the meantime, I have a two page list of things I want to do to the car, some expensive, most not. The only return I expect from my "investment" is a good time. So far, so good. Mine's a keeper.

[johndglynn]

Originally Posted by Meka

But if I had numerous long time 911 owners with extensive experience (like most that responded to my query) tell me I'm nuts. Or that if I was willing to sink a ton of cash into a 911 I may be better off with another year, model ex. Or if I was told with that many miles metal fatigue or something I hadn't considered was an issue. It may be something I would like to be aware of.

SCs and Carreras can handle big miles no problem, no need to change to a different model. If it's had the rings and valve guides done, you are good to go for lots more miles yet. As for metal fatigue, I have been in impact bumper cars with 400,000 miles on the clock and they feel just fine, nothing to worry about. At 170k you should be thinking about suspension bushes though, so start budgeting for that job and do the lot in one hit (if not already btdt).

Handing the car over to your daughter means you stop driving it, so you may want to keep schtum and let her forget it was ever mentioned

[greg bradbury]

Originally Posted by Elombard

I dont understand the question...you mean there is a point where you are supposed to stop.... :-)

Interesting concept.

I cried when I read this. YES there is someone else out there that doesn't understand.... that .... really? youre supposed to stop spending??? !!! no :-)

Congratulations Elombart you really have GOT it.

[Mysterytrain]

Actually, you can save alot of money by staying away from this forum. These guys are bad news, the ones your mother warned you about. Sadly, I must confess that I have spent a lot of cash on parts while under the influence of Pelican...what is that DUIP or maybe PUIP, 'Purchased Under the Influence of Pelican' Hmmm, might be time for a new badge.

[Mitch Leland]

Bob F. has it right, "The only return I expect from my "investment" is a good time. I think most of us feel the same way, but maybe haven't put it so perfectly...

[Gunter]

Originally Posted by Meka

I purchased my 84 Carrera about four years ago. It was in very good shape. The engine and trans were rebuilt at 200,000 miles. I purchased it at 250,000 miles. I paid $12,000. I have receipts totaling close to $18,000 that the previous owner spent on upgrades and repairs within two years of selling it to me. These do not include the engine or trans rebuild.
I myself have spent at least another $5000 on this car. I could sink another $5000 easily with upgrades I would like to do. Honestly its no custom monster 911. Just a very nice 84 Carrera. My Question is when is enough. When should you stop sinking money into a 84 911 with nearly 270,000 miles on it. There is no way I could ever get a fraction of the money back that has been put in this car.
Especially sense the paper work and receipts on the engine and trans rebuild no long exist. Please give me some advice on this.

It's not unusual to spend the same amount on repairs as the original purchase price, even with DIY, but yours seems excessive.

Please, elaborate:
Without the engine/transmission rebuild, the PO spent almost $18.000 ??
On what?

You have spent at least another $5000 on this car.
Please, give us some details.

That comes to about $23.000 spent so far.
On what exactly?

On top of that you say that you could do another $5.000 worth of stuff.
Like what?

Having done an engine/transmission rebuild, brakes, shocks, struts, suspension work, and bought bigger Fuch wheels, etc. I'd love to find out what was done to your car for $23.000 (Plus the planned $5.000 = $28.000 total)

Much appreciated.

[safe]

Originally Posted by Meka

Anyone else feel I need to stop whining and grow up? It certainly was not my intension to make my Carrera out as a swarmy money pit.

Yes, sort of.

Why do you spend the money you do on the car?

I'm betting that 90% of the money you spent, and plan on spending, wasn't/isn't really needed to keep it running (from my own personal experience). You could just change oil, pour gas in it and drive it.

So either you spend the money, like most people do on their hobbies, cars or not, or stop spending money and keep driving it.
It's a choice you CAN make.

[GH85Carrera]

Originally Posted by Mysterytrain

Actually, you can save alot of money by staying away from this forum. These guys are bad news, the ones you mother warned you about. Sadly, I must confess that I have spent a lot of cash on parts while under the influence of Pelican...what is that DUIP or maybe PUIP, 'Purchased Under the Influence of Pelican' Hmmm, might be time for a new badge.

Yea, this site is the most expensive "free" site on the net for the Porsche addicts. Before I started checking the site I felt confident my 85 Carrera was a solid reliable well maintained car. I was soon educated in the Pelican way. I have purchased my share of parts to keep the site on-line The part my wife just does not understand is that I really do enjoy working on my car and getting it just right. She does not care about the money but she pouts about being a garage widow.

If you don't get the "wow I love this car" feeling it is time to move on. I can't wait to get in my car and drive to Charlotte for Parade. I will drive about 4,000 miles round trip. Some of that will be at the DE on the track at full tilt. I can't think of any other 23 year old car with 125,000 miles that I would want to drive 1,400 miles to a track event. I am a life long 911 addict. My goal is to double my PCA membership time and then ask for an extension.