Prices are high

[HugoBear]

Seems like prices are high right now.
I have been passively looking for a 981 Cayman S for a long time.
A few months ago, a nice one could be found for 40-45k all day.
Now, everything seems 5k higher.
All 997’s and 991’s seem high too.
Wonder if it will stay this way.

[Jrboulder]

Just about any financeable toy is up lately. Low interest rates plus fewer interesting things to do is the perfect recipe for going out any buying a Porsche/airplane/boat/vacation home.

[Unobtanium-inc]

Originally Posted by Jrboulder

Just about any financeable toy is up lately. Low interest rates plus fewer interesting things to do is the perfect recipe for going out any buying a Porsche/airplane/boat/vacation home.

Financing a toy is never a good idea. The old rule, buy what you can buy, not borrow.

---Adam

[Macroni]

Crazy spending going on..... 75 big buck homes sold in our beach community.......

[sugarwood]

Here is the explanation
http://forums.pelicanparts.com/porsche-marketplace-discussion/1060874-longer-quarantine-higher-prices-will-go.html

[KNS]

I was speaking with a high end body shop the other day, they work on mostly Porsches but other exclusive cars as well. They do a lot of prep on cars getting ready for sale. He said business has been crazy busy lately.

[911heaven]

Damn! Where does this market begin or end? Does it include muscle cars too? My brother in law just fixed the oil leak on my 69 Z28 RS. It was only leaking at the oil filter and not the real main seal as I had imagined. Car is good to go so now is a good time to advertise.

Craigslist is not an option I thought. As sugarwood has said, there are sketchy gypsies who have assimilated into the country and culture over time and reside there. I’m afraid one of them might git me! Where would be the best place start? Ebay or BAT?

I thought Alan might want to put a real pinnacle muscle car into his stable for a change, even though he’s so proud of that God awful fastback with the auto and 66 Hurst rental car gold stripe. I can’t remember if it even has a V8. My Z has matching #s and includes the original protecto plate (warranty) from the original owner out of So. Carolina. Fathom green with midnight green interior Alan. What do you think? No trades will be considered however.

[smokintr6]

Originally Posted by Unobtanium-inc

Financing a toy is never a good idea. The old rule, buy what you can buy, not borrow.

---Adam

That's an incredibly dated attitude, and its a great recipe for sitting at home and waiting until you get old and die. There are a litany of reasons why financing a toy can actually be a good idea while still living well within one's means.

Personally I was daily driving 2 older vehicles that were paid off, and I specifically decided to buy a new F150 this year with financing. I want to have a reliable new vehicle if the world goes to crap, and I want the debt of the truck to be anchored in a 2020 dollar amount, and paid back with potentially hyper inflated 2022 dollars if the worst happens.

good reading about financing toys here:
https://rennlist.com/forums/911-forum/1205936-financing-a-classic-porsche.html

[manbridge 74]

Muscle cars that aren’t hack jobs are crazy money as well.

[NYNick]

Originally Posted by smokintr6

That's an incredibly dated attitude, and its a great recipe for sitting at home and waiting until you get old and die. There are a litany of reasons why financing a toy can actually be a good idea while still living well within one's means.

Personally I was daily driving 2 older vehicles that were paid off, and I specifically decided to buy a new F150 this year with financing. I want to have a reliable new vehicle if the world goes to crap, and I want the debt of the truck to be anchored in a 2020 dollar amount, and paid back with potentially hyper inflated 2022 dollars if the worst happens.

good reading about financing toys here:
https://rennlist.com/forums/911-forum/1205936-financing-a-classic-porsche.html

I'm guessing Adam was referring to toys as in 2nd or 3rd vehicles to play with, not new pickups or SUV's. His logic would be it isn't smart for someone who can't afford an air cooled 911 to begin with to justify owning it by financing. New cars have predictable time honored rates of depreciation, antique cars do not. It's not a smart financial decision to buy an old car that way, that's all.

[juanbenae]

an f150 is not a toy the way you've described it and your intended use. apples and oranges.
my jeep and 911 are toys, both were paid for with cash. the duramax was financed and is kept for completely different reasons.

[smokintr6]

In reality it would be MUCH smarter to finance an air cooled 911 as a second or third vehicle that *may retain a majority of their value, vs an F150 that I'm 100% sure will be worth next to nothing when I'm done with it.

We don't judge people for borrowing money for a boat, RV, airplane, second home. None of those things retain value like 911s have over the last 15 years... well the second home probably has, but its completely unnecessary.

Priorities, and living within our means. I would never finance a vacation, or put watches or clothing on a credit card, but I would borrow money to get a chance to have a GT3 before I'm too old to drive it properly.

It's arrogant to sit back and tell others what they should or shouldn't borrow money for, especially since the advice ins't fool proof.

[Matt Monson]

I’ve said it before and will say it again, free advice on the Internet is worth what you paid for it and you are free to ignore it. I’ll never understand people who get bent over other people’s opinions.

I generally agree with Adam in theory. But like everyone, I make exceptions. I am carrying a $10k note on the 996. I sold my 75 targa, turned in the lease on the Golf for a small loss, and bought a car I think is done depreciating. I can easily sell it for more than I owe on it and insurance on it is 1/4th of what the Golf was.

Financing a new car right now is a great idea if you need one. 0% apr for 72 months is available everywhere. If you need a new car or truck buy one. If I drove more I already would have done it myself.

[dwelle]

Originally Posted by smokintr6

It's arrogant to sit back and tell others what they should or shouldn't borrow money for, especially since the advice ins't fool proof.

and yet here you are.

the thought of financing a GT3, especially with all the economic uncertainty we live in today, would seem a fools errand to me. as would financing any air cooled porshce for that matter.

if it's a capital play because you can borrow cheaper than you can make with that same money elsewhere, i might see it. i'm not sure that's the case for many people, ymmv.

but you do you. i wouldn't be keen to encourage others to consider it, as you have...

[NYNick]

It's a free country and it seems the great American way is to finance crap you can't afford. Knock your lights out and finance anything you want.

I'm not judging you or anybody. I just advise against it.
Lighten up.

[smokintr6]

Originally Posted by dwelle

and yet here you are.

the thought of financing a GT3, especially with all the economic uncertainty we live in today, would seem a fools errand to me. as would financing any air cooled porshce for that matter.

if it's a capital play because you can borrow cheaper than you can make with that same money elsewhere, i might see it. i'm not sure that's the case for many people, ymmv.

but you do you. i wouldn't be keen to encourage others to consider it, as you have...

I DID finance a good chunk of a GT3, and i have since paid it off. I just think its a point of arrogance / jealousy for some of the older guys on here that have a 911 clear of financing. They waited until they were practically dead to buy one and think everyone else should too. Our economy runs on cheap credit. If having a vintage car is someone's priority, and something they're passionate about, and they can afford to make the payments, I think the geriatrics should keep the financial judgement to themselves. I ended up making a career in vehicle dynamics, one which I probably wouldn't have ended up in if not for spending an amount of money on old cars that most people consider to be irresponsible. People should follow their interests if it's within their means... and within your means doesn't have to mean cash.

[NYNick]

Originally Posted by smokintr6

I DID finance a good chunk of a GT3, and i have since paid it off. I just think its a point of arrogance / jealousy for some of the older guys on here that have a 911 clear of financing. They waited until they were practically dead to buy one and think everyone else should too. Our economy runs on cheap credit. If having a vintage car is someone's priority, and something they're passionate about, and they can afford to make the payments, I think the geriatrics should keep the financial judgement to themselves. I ended up making a career in vehicle dynamics, one which I probably wouldn't have ended up in if not for spending an amount of money on old cars that most people consider to be irresponsible. People should follow their interests if it's within their means... and within your means doesn't have to mean cash.

Vaive, S-dope, PML? Is that you?

FYI, dumb-a$$, this older guy bought his first Porsche in 1971 with my own money. Been doing so ever since, although I did lease a 996 once. Your issues with the older generation are bigger than your monthly payments.
As I said, lighten up.

[smokintr6]

Originally Posted by NYNick

Vaive, S-dope, PML? Is that you?

FYI, dumb-a$$, this older guy bought his first Porsche in 1971 with my own money. Been doing so ever since, although I did lease a 996 once. Your issues with the older generation are bigger than your monthly payments.
As I said, lighten up.

So you actually believe a drive by posting of "dont finance a toy" is helpful to anyone except your own ego?

[Matt Monson]

Originally Posted by smokintr6

I DID finance a good chunk of a GT3, and i have since paid it off. I just think its a point of arrogance / jealousy for some of the older guys on here that have a 911 clear of financing. They waited until they were practically dead to buy one and think everyone else should too. Our economy runs on cheap credit. If having a vintage car is someone's priority, and something they're passionate about, and they can afford to make the payments, I think the geriatrics should keep the financial judgement to themselves. I ended up making a career in vehicle dynamics, one which I probably wouldn't have ended up in if not for spending an amount of money on old cars that most people consider to be irresponsible. People should follow their interests if it's within their means... and within your means doesn't have to mean cash.

Do you even know who Adam is? He’s in the prime of life, not even 50, with a young family, and runs a very successful Porsche yard. He’s not some crotchety old “get off my lawn” old timer being “jealous” of people living life. He’s actually sharing a very basic financial “secret” of success. Sheesh.

[ShopCat]

As a former accountant Im usually pretty conservative, but financing a toy is fine AS LONG AS YOU CAN AFFORD TO GET OUT OF IT. Too many people finance toys because they can't actually afford to buy them in the first place. So...Don't do that.