Hi guys my name is Ron and im from Nyc, I just got out of an 07 M Roadster, and after test driving tons of cars m3 m6 corvette, , I was really impressed with the 997, excellent driving dynamics, high build quality, and its gorgeous.

Im currently a student, living off an online income. So i dont have a ton of cash to throw around, I am looking at putting 5k down, and have a payment max around 750

I was originally looking at purchasing a certified 05-06 carrera (would love an S but budget seems to not allow), but there seems to be some really nice lease deals on 09 carreras, I wouldnt be able to finance an 09. but the lease specials are do able for me.

Leasing the 09 or buying the 05 what would be a smarter move. Im figuring the 05 would be smarter, but the prices are so tempting for the 09 lease.

ive been quoted at around 5500 out of pocket, with 799 a month on an 09 carrera, which is pretty basically optioned. Are there better deals to be had? Im willing to travel within 250 miles of nyc.

Thanks alot , hope to be a porsche owner soon, Ron

 

FWIW, I saw a brand new 2009 black 911 lease for $698 + tax with $5k down (could've been $6k.. i forget) at a dealer in SoCal (Walter's). Thought it was a really good deal! Had only 1 in stock.

 

Depends on if you want to keep the car or not. Obviously, if you finance an earlier model 997, you will almost pay down the loan in 3 years time. However, if you lease, you will be left with nothing after 3 years.

If you're thinking of keeping the car long term, then get the 05-06. If you just want to play around and don't want to commit, go for the lease.

 

1) How do you plan to get finance approved for a Porsche lease ? Awhile back there were guys in their 30's claiming good credit and decent income getting denied. BMW leasing for instance back in 2007 (if you leased the Roadster) can not be compared against Porsche leasing in current times.

2) I do know of one college guy whose parents co signed and he made the payments . He's 25 and still lives at home. Is this what you want ? After the novely erodes you do face a three year commitment .

3) What if "online income" goes south ? It can happen -- (especially if it's day trading). You want that type of financial exposure risk ?

4) Suppose you buy the $50K 05 rather than lease -- You take out a loan on 45K and keep the five year payments at 8-900. What about insurance? What about a big repair ? Do you realize that even a flat tire could mean replacing both tires plus alignment ? = 1K + There's no "free maintenance" like with BMW and if the car is out of warranty it could really add up.
Are you really weighing the cost ?

Look -I wish every person could drive thse cars for free but the simple truth is a fun car adventure can get real ugly if a person gets financially pinned.

In short .. whether you buy or lease a Porsche 911 .. you need more than 5 grand backing you up .

 

save your money, buy a pcar later in life? if you're a student... i mean... come on.

 

+1

What Larry said.

 

I second a cautious, thoughtful approach; consider a best and a worst case senario to your financial situation.

You don't want a really great experience degrading into massive regrets.

Just my humble advise. Best of luck.

 

+1000

 

Can you write-off your lease payments against your online income?

 

If you dead set on it...buy an 05/06 and enjoy the benefits of a porsche without all the expense.

 

Totally agree with Larry. Since you are still a student, focus on your school and establishing a career. Pcar is the last thing you should consider.

John

 

Sorry, kid, but the cold hard truth is you can't afford a porsche... not yet at least.

When I was in college, I had a lot of "I wants" too, but please be smart, finish your school, and buy one after you're more established.

 

I am actually retuning to school, after a 5 year hiatus. I do currently have a stable income, and i have enough saved money for a rainy day.

Maintanance is no problem, my family owns an auto repair facility. im a ceritfied motec and aem ems tuner. Im currently working with on a project low price plug and play full stand alone engine management for newer model sportbikes.

I purchased my m roadster, new and just sold it, I do have more than 5000 to put down. i just wanted to to keep some liquid. (for mods )

I am a bit enamored with the idea of picking up new 911. but i think and 05 06 a smarter decision esp to modify.

 

I say look for a good CPO'd '06 and enjoy mod'ing it. Then drive the hell out of it!

 

Agreed, a CPO is a good way to go. Or, if you don't have a family to carry around, a 987s is also very nice to drive and own. 911 is a different animal, definitely, but Boxster and Cayman are very good cars, even better if you take them to a track for some proper whipping.