Buying a new Porsche....I don't get it.

[HardDrive]

Ok, sure, if you happen to have more money than you know what to do with, I understand that. But if you are in a position where you will be financing the car, just a regular joe off the street, it just seems insane.

You can go to the dealer and get a 2007 Boxster S for $65K.....or you can look on auto trader, and find exactly the same car in the 2005 model with less than 10,000 miles for $45k. There are dealers blowing out 06 models for like $50k. Why would anyone walk in an just buy a 2007 off the dealer floor? Is that first 10,000 miles really worth $10-15k?

You take a bath on any new car, but the krautwagons are just brutal.

[M.D. Holloway]

Agree, not sure I will ever buy new again.

[pwd72s]

You asked why? Because P.T. Barnum was right...

[Dave L]

how many are actual purchased versus leased? Leasing a car out of the auto trader is difficult

[livi]

I completely agree. I have never owned a new car. The newest was five years old. Not that I could buy a new Porsche, even if I wanted..

[scottmandue]

On my income the only Porsche I will ever be able to afford is a used one.

Although I do buy a new (last years model off the lot) Hyundai every seven or eight years to commute in... I need a reliable disposable appliance vehicle to get in and out of Lost Angeles five days a week... and the chanced of getting carjacked downtown in a Hyundai are infinitesimal

I suppose back in the day if you were buying a used Porsche even if it only had 10K miles the those might have been 10K hard driven miles (track time etc.)

Dunno... why do people buy +$100K cars to putt around on the street in the first place (Bugatti, CGT, R8, Ferrari, etc.)

[mattdavis11]

I thought this was a learned lesson by the time you reach age ten. This is going to come off as pretty harsh, but your grasp of the obvious is overwhelming.

Never will own new, but I'm glad people decide to.

[HardDrive]

Originally posted by mattdavis11
I thought this was a learned lesson by the time you reach age ten. This is going to come off as pretty harsh, but your grasp of the obvious is overwhelming.

I have never denied being a moron.

[the]

The sticker price on cars like that are pretty much meaningless these days.

"What's the low, low monthly lease payment?" is the relevant question.

A Boxster is a $499/month car for example.

It's the American way! You don't do that? Are you a communist or something?!?

[89911]

Show me a car that I can buy new for $50k and I'll immediately think of a car that is a few years old and sold for $80k.

[Moneyguy1]

How about the owner of a 1987 out here in the hinterlands who just spent 64k to make it 'concours"?

Not me, that's fer sure......

[hytem]

Didn't I see a poll in this NG that said about 80% of posters paid less than $20K for their 911s?
That means most buy the older cars, which have more distinctive styling, anyways. Maybe the new car 911 owners are too busy to post--making movies, going to board meetings, etc.

[Don Plumley]

If you want to to learn about the other perspective, go post over on Rennlist's 997 or Cayman forums.

Some people want New cars. They want the latest features, they gain comfort in knowing that it has a warranty from the manufacturer, and they want to be the first person sitting in the car. Just like some people want a two year old car or a twenty year old car.

And for a large percentage of the buyer (not leasing) population of new Porsches, the extra 10K or 50K isn't a material number. That would be like price comparing RC Cola versus Coke.

The leasing angle is another dimension. If you are a majority owner of a small to mid-size very cash-flow positive business, and you like nice cars, then it's simply a no-brainer. Your CPA tells you to go out and spend $1K a month on a lease and your net income is neutral, you go out and lease a Porsche, or an 750, or whatever.

We are getting into the realm of lifestyle and luxury purchases. That's a very interesting consumer demographic (I'm a marketing guy) and trust me, most norms of rational and logical pricing behavior rarely apply.

[Seahawk]

I tend to keep utilitarian cars a long time, I buy them new, keep up with maintenance and give them away when ready.

Trucks, commuter mobiles, and the family ride all get worn to a nub.

While we have the income to buy new sports cars, I just can't see it. I do understand, as Don pointed out, the attraction.

When my daughter starts driving in a year and a half she will get my wifes car. As a replacement, we are looking at an off-lease certified 3 series BMW...or a new Miata: same price

[pwd72s]

Originally posted by Seahawk


While we have the income to buy new sports cars, I just can't see it. I do understand, as Don pointed out, the attraction.

Being able to afford something isn't the same as wanting it, right?

A friend recently sent me an Omaha newspaper clipping. A column written by a Robert Nelson. He describes doing an interview with Peter Buffett (a musician) in Peter's dad's house.

A quote from the article:

"You know the deal" Warren is worth 52 bazzilion dollars. But he spends much of his time in a modest house in central Omaha. He lives there because he feels comfortable there. It's home for his kids.

But the house also sends a message: Building wealth is fine. Showing off wealth is ugly. And once you start celebrating 'getting there', you probably start forgetting what got you there."

end quote.

My thought: It's about attitude, I guess...attitude that makes some people "ugly", despite their outward hollyweird standards of beauty. Let's face it, there are some ugly people buying new Porsches these days...

[rhjames]

and you guys think the depreciation bug is bad in Porsches?

try my business----the trucking business.

a new Peterbilt (or any other marque for that matter), nicely spec'd will set you back more than $125K.

in about four years, the rig will only bring about $40K, maybe less, probably much less.....

don't cry about the of the lot depreciation of your for wheeler until you experience the every day loss we Truckers get when we replace our aging rigs. our only saving grace to this is tax benefits of investment credits and depreciation write offs.

of course, our trucks make money (most of the time---although it's much tougher with fuel prices as high as they are) instead of just supplying us with daily transportation.


if you really want to "own" a high profile marque, leasing is the way to go. about the same capital expendature up front as buying, but you can just give it back to them and get another at the end of the lease. in some states you can even have tax advatages with leasing.

short of that, shop around. I couldn't afford a 928 GTS, so I bought an early Euro 928 and haven't looked back. even though it does have issues (no wonder, its a 1980), I still get compliments all the time by everyone that sees it. and besides, it's paid for!!!!!


regards---

[Hugh R]

I've bought several new Toyota products because my brother-in-law is high up in Toyota, USA and can get me true dealer cost.

[on-ramp]

when you have so much money, 15K is nothing.. so why settle for "used" when you can buy new ?

[pwd72s]

Originally posted by on-ramp
when you have so much money, 15K is nothing.. so why settle for "used" when you can buy new ?

You don't get it...It's why spend $100K for new, when you can be on TV spending much more than that at a "classic car" auction???

[HardDrive]

Originally posted by pwd72s
You don't get it...It's why spend $100K for new, when you can be on TV spending much more than that at a "classic car" auction???

LOL!

+1

Yeah, why blow money at a lowly dealer, when you can blow that $100k on a Chevelle thats worth about $35k, and get to be on TV at Barrett Jackson. Sure you just lost your ass......BUT YOU WERE ON TV!!!!!

My step father bought a car down there......trying to sell it now, and seems to be having a bit of trouble getting his money back on his 'investment'.