Looking At Buying My First Porsche - Need Information To Help With Choosing A Car
#16
06-06-2009, 02:03 PM
Might want to save up for a few more months, I just got a 01 TT for 47 from a franchised porsche dealer and it only had 17k for miles with new tires and 30k service performed. Remember asking price isnt always the same as selling price.
#17
06-06-2009, 05:38 PM
Edit to my earlier post. The C4S also has the big brakes. That's definitely worth something.
I agree with DJM. May want wait till fall and make a run at a TT. Peoples asking price ain't the same as the getting price. The TT engine is vastly superior and can be modded for big gains.
I agree with DJM. May want wait till fall and make a run at a TT. Peoples asking price ain't the same as the getting price. The TT engine is vastly superior and can be modded for big gains.
#18
06-07-2009, 05:12 PM
Join Date: May 2009
Location: Michigan
Posts: 67
Rep Power: 19 
I cannot thank everyone enough for their thoughts, expertise and recommendations to date. Your information has been of very significant help in my quest. Those of you promoting the C4s do especially have me thinking again. Over the C2, you get leather seats, the wheels, suspension, all-wheel drive, and sexier bodywork of the Turbo, not to mention, importantly, the big brakes.
Also, I read an article where no less a world class driver than Walter Rohrl (4 time World Rally Champion, winner of the 24 Hours of Nurburgring, and senior Porsche test driver, etc. etc.etc.etc.) said the C4s was actually capable of being driven faster than the C2s!
And there are those others here and elsewhere who are advocating finding a way to manage the purchase of a 996 Turbo for it's overwhelming superiority.
Decisions, decisions.
I've also had at least eight PM's, and a similar number of conversations with members of the Porsche fraternity locally, all of which strongly exhort me to somehow find the additional funding to buy a 997, claiming really major improvements, a much better overall series of 911's, and no dreaded "catastrophic engine failure" to worry about. And of course, I "must" purchase a C2s to really have adequate performance.
And so I am left with the facts that a few months more won't add any really significant funding to my allocation. I had really been hoping to hold things to a max of $40k. Having taken stock of every possible means of additional finances, I find myself at an absolute limit of about $42,500.00 for the actual car purchase. Assuming that I get the price I expect for my current car. That, coupled with Michigan's lovely sales tax (and why do states have ANY right to tax sales of USED cars when they have already been taxed once?) will total $45,000.00. And at that point, the car had better be certified or at least covered by some reliable, and lengthy extended warranty, since I won't have dollars left for that seperately. The frustration is now setting in knowing that this will not extend to allow me to purchase either a low mileage 997 C4s, or C2s, or a 996 Turbo.
Based on overwhelming commentary, it seems that non-Turbo 996 series cars are barely worth bothering with!
Oh well, the pondering continues as I gather the finances, which will take a month or so anyway, per my home refinancing timetable.
I welcome any additional commentary. and thanks to everyone, once again.
John
Also, I read an article where no less a world class driver than Walter Rohrl (4 time World Rally Champion, winner of the 24 Hours of Nurburgring, and senior Porsche test driver, etc. etc.etc.etc.) said the C4s was actually capable of being driven faster than the C2s!
And there are those others here and elsewhere who are advocating finding a way to manage the purchase of a 996 Turbo for it's overwhelming superiority.
Decisions, decisions.
I've also had at least eight PM's, and a similar number of conversations with members of the Porsche fraternity locally, all of which strongly exhort me to somehow find the additional funding to buy a 997, claiming really major improvements, a much better overall series of 911's, and no dreaded "catastrophic engine failure" to worry about. And of course, I "must" purchase a C2s to really have adequate performance.
And so I am left with the facts that a few months more won't add any really significant funding to my allocation. I had really been hoping to hold things to a max of $40k. Having taken stock of every possible means of additional finances, I find myself at an absolute limit of about $42,500.00 for the actual car purchase. Assuming that I get the price I expect for my current car. That, coupled with Michigan's lovely sales tax (and why do states have ANY right to tax sales of USED cars when they have already been taxed once?) will total $45,000.00. And at that point, the car had better be certified or at least covered by some reliable, and lengthy extended warranty, since I won't have dollars left for that seperately. The frustration is now setting in knowing that this will not extend to allow me to purchase either a low mileage 997 C4s, or C2s, or a 996 Turbo.
Based on overwhelming commentary, it seems that non-Turbo 996 series cars are barely worth bothering with!
Oh well, the pondering continues as I gather the finances, which will take a month or so anyway, per my home refinancing timetable.
I welcome any additional commentary. and thanks to everyone, once again.
John
Last edited by Slapshot; 06-07-2009 at 05:39 PM.
#19
06-07-2009, 09:22 PM
I would say that you should find your wow car. I spent the better part of three months looking for the perfect ride for me, with the color and options I was looking for in my price range. One day, it just jumped off the page and I could not be happier. Patience and lots and lots of online research is going to be in your future it seems, beyond what you have already done. I think it will be smart to not spend every last penny, so if that means saving a little while longer while looking for the perfect car, then do that.
#20
06-07-2009, 09:38 PM
I love my 996 TT, but if I didnt go this route I would have probably gotten a 997 C2S, has I have heard they were such a good improvement over the 996 generation. I would test drive 996 turbo and a 997 C2S and buy which ever cathces your fancy, they are both great cars
#21
06-08-2009, 01:05 AM
Basically the same conclusion that I have come to. I'm still thinking I could be happy with a 996 C4S. The IMS stuff freaks me out a bit but I think it's more rare than it seems. I would love a TT but can't justify the extra cost. 997 is totally out of my range. Good luck with the search.
I cannot thank everyone enough for their thoughts, expertise and recommendations to date. Your information has been of very significant help in my quest. Those of you promoting the C4s do especially have me thinking again. Over the C2, you get leather seats, the wheels, suspension, all-wheel drive, and sexier bodywork of the Turbo, not to mention, importantly, the big brakes.
Also, I read an article where no less a world class driver than Walter Rohrl (4 time World Rally Champion, winner of the 24 Hours of Nurburgring, and senior Porsche test driver, etc. etc.etc.etc.) said the C4s was actually capable of being driven faster than the C2s!
And there are those others here and elsewhere who are advocating finding a way to manage the purchase of a 996 Turbo for it's overwhelming superiority.
Decisions, decisions.
I've also had at least eight PM's, and a similar number of conversations with members of the Porsche fraternity locally, all of which strongly exhort me to somehow find the additional funding to buy a 997, claiming really major improvements, a much better overall series of 911's, and no dreaded "catastrophic engine failure" to worry about. And of course, I "must" purchase a C2s to really have adequate performance.
And so I am left with the facts that a few months more won't add any really significant funding to my allocation. I had really been hoping to hold things to a max of $40k. Having taken stock of every possible means of additional finances, I find myself at an absolute limit of about $42,500.00 for the actual car purchase. Assuming that I get the price I expect for my current car. That, coupled with Michigan's lovely sales tax (and why do states have ANY right to tax sales of USED cars when they have already been taxed once?) will total $45,000.00. And at that point, the car had better be certified or at least covered by some reliable, and lengthy extended warranty, since I won't have dollars left for that seperately. The frustration is now setting in knowing that this will not extend to allow me to purchase either a low mileage 997 C4s, or C2s, or a 996 Turbo.
Based on overwhelming commentary, it seems that non-Turbo 996 series cars are barely worth bothering with!
Oh well, the pondering continues as I gather the finances, which will take a month or so anyway, per my home refinancing timetable.
I welcome any additional commentary. and thanks to everyone, once again.
John
Also, I read an article where no less a world class driver than Walter Rohrl (4 time World Rally Champion, winner of the 24 Hours of Nurburgring, and senior Porsche test driver, etc. etc.etc.etc.) said the C4s was actually capable of being driven faster than the C2s!
And there are those others here and elsewhere who are advocating finding a way to manage the purchase of a 996 Turbo for it's overwhelming superiority.
Decisions, decisions.
I've also had at least eight PM's, and a similar number of conversations with members of the Porsche fraternity locally, all of which strongly exhort me to somehow find the additional funding to buy a 997, claiming really major improvements, a much better overall series of 911's, and no dreaded "catastrophic engine failure" to worry about. And of course, I "must" purchase a C2s to really have adequate performance.
And so I am left with the facts that a few months more won't add any really significant funding to my allocation. I had really been hoping to hold things to a max of $40k. Having taken stock of every possible means of additional finances, I find myself at an absolute limit of about $42,500.00 for the actual car purchase. Assuming that I get the price I expect for my current car. That, coupled with Michigan's lovely sales tax (and why do states have ANY right to tax sales of USED cars when they have already been taxed once?) will total $45,000.00. And at that point, the car had better be certified or at least covered by some reliable, and lengthy extended warranty, since I won't have dollars left for that seperately. The frustration is now setting in knowing that this will not extend to allow me to purchase either a low mileage 997 C4s, or C2s, or a 996 Turbo.
Based on overwhelming commentary, it seems that non-Turbo 996 series cars are barely worth bothering with!
Oh well, the pondering continues as I gather the finances, which will take a month or so anyway, per my home refinancing timetable.
I welcome any additional commentary. and thanks to everyone, once again.
John
#23
06-13-2009, 10:38 PM
Join Date: May 2009
Location: Michigan
Posts: 67
Rep Power: 19
Thanks so much to everyone for their recommendations and everything else. This is one of the best sites I have ever been involved with, and the level of help and support have been remarkable. The information provided was a great help in narrowing down my choices.
As you know from my previous posts, I was set to refinance my home and, in the process, buy my first 911.
A friend in the finance department at work had been tracking the rate that the bank that holds my current mortgage was offering. They can give you a much better deal than anyone else, because they will waive any points, processing fees and closing costs, which was critical to my plan. Although rates, overall, had been rising as you know, their rates for a 15 year mortgage had been stuck at 4.75%, for the past ten days or so. They also typically knock off another .05-.06 or so for existing customers with grade A mortgages, which mine is, so I was told that it would be no higher than 4.69%.
I had called them on Tuesday night, and they said if I decided to do it, they could fax me over a initial comittment at work, within an hour of the call, which, when I signed it and faxed it back, would lock in the current rate.
On Wednesday I was tied up with a family funeral, and so, I contacted them on Thursday morning, as soon as I had time available at work. I planned on having them fax me the paperwork, signing it, and taking the steps to close the deal so I could buy the car. You won't believe what I found out. Their rates went up Wednesday afternoon, and again on Thursday morning by a huge amount. Their current rate is now all the way up to 5.39%. I couldnt believe it when they told me, I honestly thought I had heard the number wrong. And, just like that, the chance to refinance, take out the money, and buy the car is essentially gone, very likely, forever. I literally missed it by one day, due to the funeral falling when it did. Incredible.
Even if I would consider re-financing, I would have to be a complete fool to do it at 5.38. Who in their right mind would do that when it was at 4.75 the day before? And, the added cost due to the interest rate also hugely increases the amount my house payment would be afterward. And so, just like that, the dream of ever getting just one great car is over.
And perhaps the worst part is, while I was pondering making the decision I was, of course, driving my BMW every day, and thinking that it's such a nice, rock solid, and enjoyable car, flawlessly maintained, and I have put all this time and money into making it perfect, maybe I could be okay just keeping it. Once I had finally made the decision, Tuesday night, and fully allowed myself to realize how badly I wanted the Porsche that whole chapter was over. The BMW was history in my mind. That was enforced further because I test drove a friend's, friend's 911 on Wednesday afternoon, on my way home from the funeral. I literally was smiling all the way home, thinking that I would really and truly have one of my own before long. While the BMW is a nice, even borderline classic, drivers car, the Porsche was in a different league entirely. Of course, given that the one I drove originally sold for $94,000.00 in 2005, it should be.
Since then, for the first time ever, my enjoyment of the BMW has been all but gone, and it feels like a car I am trapped into owning because of having no other options thanks to the mortgage rate disaster. I am having trouble remembering the last time I was so incredibly disappointed. It all literally fell apart because the funeral fell on the day it did. What unfortunate timing I have!
Word is that rates will continue to move slowly higher for the remainder of 2009, and likely even in 2010, so it appears that there is essentially no hope for a reprieve. The dream is gone.
John
As you know from my previous posts, I was set to refinance my home and, in the process, buy my first 911.
A friend in the finance department at work had been tracking the rate that the bank that holds my current mortgage was offering. They can give you a much better deal than anyone else, because they will waive any points, processing fees and closing costs, which was critical to my plan. Although rates, overall, had been rising as you know, their rates for a 15 year mortgage had been stuck at 4.75%, for the past ten days or so. They also typically knock off another .05-.06 or so for existing customers with grade A mortgages, which mine is, so I was told that it would be no higher than 4.69%.
I had called them on Tuesday night, and they said if I decided to do it, they could fax me over a initial comittment at work, within an hour of the call, which, when I signed it and faxed it back, would lock in the current rate.
On Wednesday I was tied up with a family funeral, and so, I contacted them on Thursday morning, as soon as I had time available at work. I planned on having them fax me the paperwork, signing it, and taking the steps to close the deal so I could buy the car. You won't believe what I found out. Their rates went up Wednesday afternoon, and again on Thursday morning by a huge amount. Their current rate is now all the way up to 5.39%. I couldnt believe it when they told me, I honestly thought I had heard the number wrong. And, just like that, the chance to refinance, take out the money, and buy the car is essentially gone, very likely, forever. I literally missed it by one day, due to the funeral falling when it did. Incredible.
Even if I would consider re-financing, I would have to be a complete fool to do it at 5.38. Who in their right mind would do that when it was at 4.75 the day before? And, the added cost due to the interest rate also hugely increases the amount my house payment would be afterward. And so, just like that, the dream of ever getting just one great car is over.
And perhaps the worst part is, while I was pondering making the decision I was, of course, driving my BMW every day, and thinking that it's such a nice, rock solid, and enjoyable car, flawlessly maintained, and I have put all this time and money into making it perfect, maybe I could be okay just keeping it. Once I had finally made the decision, Tuesday night, and fully allowed myself to realize how badly I wanted the Porsche that whole chapter was over. The BMW was history in my mind. That was enforced further because I test drove a friend's, friend's 911 on Wednesday afternoon, on my way home from the funeral. I literally was smiling all the way home, thinking that I would really and truly have one of my own before long. While the BMW is a nice, even borderline classic, drivers car, the Porsche was in a different league entirely. Of course, given that the one I drove originally sold for $94,000.00 in 2005, it should be.
Since then, for the first time ever, my enjoyment of the BMW has been all but gone, and it feels like a car I am trapped into owning because of having no other options thanks to the mortgage rate disaster. I am having trouble remembering the last time I was so incredibly disappointed. It all literally fell apart because the funeral fell on the day it did. What unfortunate timing I have!
Word is that rates will continue to move slowly higher for the remainder of 2009, and likely even in 2010, so it appears that there is essentially no hope for a reprieve. The dream is gone.
John
Last edited by Slapshot; 06-14-2009 at 11:28 AM.
#24
06-13-2009, 10:40 PM
Join Date: May 2009
Location: Michigan
Posts: 67
Rep Power: 19
Thanks also to those who PM'ed me with information, and even with offers to help in checking out cars in their regions. I really, truly, appreciate the kindness of the members here.
I wish I could have joined you in owning a 911. You cannot imagine how much I regret the circumstances. The disappointment is palpable.
John
I wish I could have joined you in owning a 911. You cannot imagine how much I regret the circumstances. The disappointment is palpable.
John
Last edited by Slapshot; 06-14-2009 at 11:27 AM.
#26
06-15-2009, 03:27 PM
Registered User
Join Date: Oct 2007
Location: Ohio--summer NC--winter
Posts: 57
Rep Power: 19
I just did a search on autotrader.com within 200 miles of my zip and they list 35 Porsches (2002--2004) with a low price of $37,495, high price of $54,000 and an average of $40,500. You are in Michigan???? Not that far from my zip code! I saw a 2004 anniv. edition listed for $40,000 OBO which means you could probably get it for $36--38,000. Find it, drive it, fall in love with it and buy it. Any variant of the 911 will be a prince of a car.
#27
06-16-2009, 11:14 AM
Slapshot,
Really sorry to hear about your refinancing issues. We were lucky to close our refinancing right around beginning of June, thus freeing up some cash to buy my first Porsche.
In this market you never know what may happen. Those who tell you rates will be on upward trend must have some crystal ball that everyone in the industry would kill for. Just hang tight and watch the market closely, you may end up in a Porsche sooner than you think.
Good luck!
Really sorry to hear about your refinancing issues. We were lucky to close our refinancing right around beginning of June, thus freeing up some cash to buy my first Porsche.
In this market you never know what may happen. Those who tell you rates will be on upward trend must have some crystal ball that everyone in the industry would kill for. Just hang tight and watch the market closely, you may end up in a Porsche sooner than you think.
Good luck!
#30
06-16-2009, 10:24 PM
Join Date: May 2009
Location: Michigan
Posts: 67
Rep Power: 19 Slapshot,
Really sorry to hear about your refinancing issues. We were lucky to close our refinancing right around beginning of June, thus freeing up some cash to buy my first Porsche.
In this market you never know what may happen. Those who tell you rates will be on upward trend must have some crystal ball that everyone in the industry would kill for. Just hang tight and watch the market closely, you may end up in a Porsche sooner than you think.
Good luck!
Really sorry to hear about your refinancing issues. We were lucky to close our refinancing right around beginning of June, thus freeing up some cash to buy my first Porsche.
In this market you never know what may happen. Those who tell you rates will be on upward trend must have some crystal ball that everyone in the industry would kill for. Just hang tight and watch the market closely, you may end up in a Porsche sooner than you think.
Good luck!
John