Bad news.

[Brian993]

I am selling my car. Flame away. I love her but I have to much money in her to sit on it all winter. This is my off season and I would prefer the cash in the bank than the cash in the car. I am sorry to tell you this. Please dont be to harsh on me. I have enjoyed my time with her. I will be buying a less expensive 911 when it is sold. I will be somewhat releaved when it is gone do to the finacial burden, ins. etc. Things are getting tight in this recession I am afraid.

[john_colasante]

Now is not a good time to sell a Porsche, as the prices are way down. However when something is going down I guess it's better to sell sooner than never. Like when Yahoo stock was at $100 and falling I guess...

[rstoll]

Always room in the SCWDP!!

[Brian993]

If I cant recoup 95% of what I have in her I will keep it. Its not so much that I need the money but more of an issue of having the money I am sure most of know what I am saying. Cars are one thing but I really do believe things will get much worse before they improve. Construction has been solid for sometime now. Well its begining to soften here, finally. I want to be prepared.

[nostatic]

Originally posted by Brian993
If I cant recoup 95% of what I have in her I will keep it.

My guess is you'll be keeping it. 993s can be had in the $20s if you hunt, and in the $30s pretty easily. But you never know...there was one post here from a guy who got top dollar (over $50K?) for his '97 targa, but it did take him 4 months to sell it.

If the money is just going to sit in the bank, why not have it sit in the car (especially if the car will be parked during the winter)? Unless the economy tanks heavily, my guess is you car would be worth the same or more 6 months from now. But however you go, good luck.

[Jim Richards]

Brian, sorry to hear that you're selling it. As soft as the ecomony is right now, plus moving towards the winter months, I'd be amazed if you're able to recover 85% of your investment in your car. Of course I hope I'm wrong.

[dtw]

Originally posted by Brian993
Construction has been solid for sometime now. Well its begining to soften here, finally. I want to be prepared.

Brian, a lot of your business is painting restaurants right? I think I remember you saying that. Have you heard about 2003 industry plans? Massive reductions in new store openings to concentrate on existing store sales initiatives.

Best of luck, and 3.2s are getting to be a real bargain these days...

-d

[Brian993]

Actually openings are scaled back but remolding is expected to skyrocket. I think its the fear factor thats got me. I enjoy the car but the piece of mind in having the cash is what has me thinking.

[autobonrun]

Sorry to hear you're selling your car. My fear is that the only way to get quick cash during your off season is to lower the price considerably below market value. This defeats the whole purpose. If you price it fairly in this market, it may not move until you're back into your peak season; then you'll want to keep it and feel there's no need to get rid of it. Then the cycle starts over.

There's a lot to be said for not having a car note. Rather than deal with the cycles, I think your idea of buying an older car would be good. I'd price it fairly and hold on until it sold. Even if the offer came when the cash flow did not require a sell, I'd do it anyway recognizing that cycles are called that for a reason. Take the money you get, buy a good SC then enjoy no car note and less insurance cost.

I don't remember what year you have, but take a look at some comparable cars here to see what you might get.

http://www.autotrader.com

Good luck

[Brian993]

I own the car outright and I do think 40k is a fair price as I have been looking at local dealer pricing. As far as off season I agree 100%. The cycle continues for me. If someone comes up with the cash its gone otherwise she stays put which is not all bad but the for sale sign stays on until it goes or things improve. Aside from that I am one of those the fun is in the chase kinda guys.

[pwd72s]

Brian, there are worse things in life than having an "old" car and sitting on a bit of cash. Good luck, whatever you decide,,,

[Brian993]

I have to tell you those early cars are looking better and better every day. Not because some can be had inexpensively but primarily because of the raw feel. The 993 is one super sweet car but maybe a little to refined. For some people myslef included, it can be viewed as a plus to have a quite smooth fast car.

Something has to be said for a raw seat of your pants car as well. If this car does go i will be looking at the early cars and I am sure I might know where to look for a little guidence.

[autobonrun]

Originally posted by Brian993
I own the car outright and I do think 40k is a fair price as I have been looking at local dealer pricing. As far as off season I agree 100%. The cycle continues for me. If someone comes up with the cash its gone otherwise she stays put which is not all bad but the for sale sign stays on until it goes or things improve. Aside from that I am one of those the fun is in the chase kinda guys.

I think your current thinking and position is spot on. (Now I know I've been listening to too much David Hobbs).

Owning the car outright puts you head and shoulders above most out there selling cars. Sounds like what you are looking for is liquidity not improved cash flow. Very few cars would be considered liquid and a 993 is definitely not.

I think I would price it with the market, just like what you're doing, and see what happens since you're just planning ahead and there's no guarantee you will actually need the money. Then find another much earlier 911 that ties up the least amount of your capital. You can always price the car below market if you have to. There is a point where a 993 will become liquid, even in this market.

Another reason to hold for market price now is that your options for investing any money you get are limited. I think bank's are paying like 1% on CDs and putting profits into anything much riskier would defeat the purpose of having a guaranteed fall back position. You'd really be upset if you sold the car below market value then get $350 to $400 in interest on the proceeds after an entire year.

[Doug E]

Why not a compromise?

Assuming you get $40k for it, take $10 to $15k and buy a solid SC and then you'd still have $25 to $30k in your pockets to give you a feeling of comfort.

Having been bitten by the Porsche bug there is no way I could sell a 911 and walk away from anytype of ownership.

[Brian993]

Originally posted by Doug E
Why not a compromise?

Assuming you get $40k for it, take $10 to $15k and buy a solid SC and then you'd still have $25 to $30k in your pockets to give you a feeling of comfort.

Having been bitten by the Porsche bug there is no way I could sell a 911 and walk away from anytype of ownership.

You are darn right. I will never be without a 911. I think a early car pre-74 would suit me well. I would buy an SC but then I couldnt persue the rgruppe thing. I have always gone the rebel route and I wont change now. World domination is one thing but a few that stand alone is much, much cooler.

Only kidding guys, a poke in the ribs for a few smiles.

[Kevin Stewart]

Sorry to hear that, we are having a restaurant boom here, we are getting like seven new ones this fall, interest rates are down so compainies like Hooters and the rest are playing The McDonalds sydrome, all the Wendys are building new buildings etc, you may want to check with your city planning to see what is comming to town, Kevin

[Brian993]

I do expect a boom soon. My area of concern is if the stock market doesnt come back soon believe me all will follow suit. Aside from that we had snow here five months ago. These winters are to dam long to have 40k car in storage.

Earning money is not always the problem for me sometimes I become uncomfortable where i put it.

Man I am glad I didnt buy a new turbo!

[Bill Douglas]

Brian, Brian, Brian...

[Sean Hamilton]

I thought your 993 was your daily driver? I love the early long noses too - as a weekender, but I'd reckon after a 993 as "my" daily, the early models - aside from unrefined, may be too much of an upkeep issue for that.
I'm in the construction industry and it is volatile for us too, so I completely understand where your priorities are directed - the fat on the bone invested in your Porsche is better in the larder for the hibernation.

[Brian993]

Thats the thing Sean, the 993 is a fourth car used only as a recreation vehicle. If I was in a position to drive it everyday then I might feel compelled to own only two vehicles.

The insurance alone on these vehicles is over 5k with the 993 acounting for 30%.

Each day brings a new begining. I am hoping a few good things break so I can change my mindset. I am not in any kind of trouble but it is funny how are priorities can change over night!