[PSUSMU]

Me: 27, single, own a townhouse w/ 2-car garage, steady job, savings, retirement, fiscally conservative, etc. Paying off my 5-year/0.9% financing on my BMW this August. I intend to daily it for as long as it's reliable.

Wanted: (read NEED) a 90s 911. Prices have skyrocketed on aircooled Porsches in recent years, but they'll probably only continue to rise.
Personal goal is 911 by 30, but to not put a burden on my financials. I'm not made of money (laying out the full cash amount is doable but not something I'm comfortable with), and the smart thing would to not buy one or buy a cheaper project car, but I like to do what I want and I really want one.

Any of you who own a 2nd/weekend vehicle, how did you go about purchasing it? 100% cash, loan, partial loan, etc.? What's the smartest way to go about it?

[Joekerr]

Well, at 27 with a townhouse, savings, retirement, and already paying off a BMW, you are CLEARLY getting help from your parents.

So why don't you just ask them what they will buy you as a second car?

[P1]

I think everyone and their dog wants a 90s 911. I've been looking as well, but they are indeed VERY pricey. I even looked at importing one from Europe since that would be relatively easy for me. Still, not cheap by any means.

[NYAWE60]

Originally Posted by Joekerr

Well, at 27 with a townhouse, savings, retirement, and already paying off a BMW, you are CLEARLY getting help from your parents.

So why don't you just ask them what they will buy you as a second car?

Not necessarily true. . . . just saying. . . .

I bought my home at 26 (and I live in NYC!!!), had my Nismo 350Z paid for, had a decent savings, and retirement setup, albeit a small one. It's doable. If my parents were helping me, I'd have had an E92 M3 back then

[Billup]

Originally Posted by NYAWE60

Not necessarily true. . . . just saying. . . .

I bought my home at 26 (and I live in NYC!!!), had my Nismo 350Z paid for, had a decent savings, and retirement setup, albeit a small one. It's doable. If my parents were helping me, I'd have had an E92 M3 back then

He was making a joke in regards to a different thread.



OP, I think you're going to be hard pressed to find exactly what you are looking for. I've browsed for a while as well, because I thought I wanted the same thing, until I saw how expensive they are. Although I still want one, the cost can't exactly be justified.

I would suggest doing a partial loan, depending on what interest rate you can get for a car that is "X" years old. I wouldn't go 100% cash in, because you could likely just pay off whatever the remaining loan is before you accrue any interest (assuming that will be your only car payment since the BMW will be paid off).

[PSUSMU]

Originally Posted by Joekerr

Well, at 27 with a townhouse, savings, retirement, and already paying off a BMW, you are CLEARLY getting help from your parents.

So why don't you just ask them what they will buy you as a second car?

I see what you did there. I never denied getting help from my parents - I did receive some assistance for the townhouse down payment, but everything else is on me.

Originally Posted by Billup

He was making a joke in regards to a different thread.

OP, I think you're going to be hard pressed to find exactly what you are looking for. I've browsed for a while as well, because I thought I wanted the same thing, until I saw how expensive they are. Although I still want one, the cost can't exactly be justified.

I would suggest doing a partial loan, depending on what interest rate you can get for a car that is "X" years old. I wouldn't go 100% cash in, because you could likely just pay off whatever the remaining loan is before you accrue any interest (assuming that will be your only car payment since the BMW will be paid off).

I can justify it, albeit, I'm aware it's not the smartest move. Justification is passion + the fact that the market is strong for resale (only risk is getting stuck with a large repair bill if there's an engine failure or something).

[quiksi]

with how expensive the later air cooled cars are getting, I personally would rather have a 997

[PSUSMU]

Originally Posted by quiksi

with how expensive the later air cooled cars are getting, I personally would rather have a 997

Though I like the 997, and I realize you can get one for near 993 $, I've been bitten by the allure of aircooled 911s since I was a kid. I'd rather have a 993 C2 than a 997 C2.

[upstatedoc]

When I was looking for a weekend car, you know, before I had 3 kids and had some spare money, I got a VW GTI. Man that thing was fun. Inexpensive, not ricerish. Nice little turbo. Then my wife made me get rid of it. I'll get her someday...

[PSUSMU]

Originally Posted by upstatedoc

When I was looking for a weekend car, you know, before I had 3 kids and had some spare money, I got a VW GTI. Man that thing was fun. Inexpensive, not ricerish. Nice little turbo. Then my wife made me get rid of it. I'll get her someday...

I had a GTI for 6 years

[P1]

Originally Posted by PSUSMU

I see what you did there. I never denied getting help from my parents - I did receive some assistance for the townhouse down payment, but everything else is on me.

I can justify it, albeit, I'm aware it's not the smartest move. Justification is passion + the fact that the market is strong for resale (only risk is getting stuck with a large repair bill if there's an engine failure or something).

Why is everyone in OT so against everyone getting help from their parents? If your parents are able and willing to help, then who cares? I don't have kids now, but once I do, I'll be helping them as much as possible.

[2011CrazE89]

Growing up my father never gave me a dime for school, clothing, nothing! He was too busy cheating on my mother chasing tale around. Now I have a family of my own and he had the nerve to ask me for $1K to pay some bills. Funny how that works. Needless to say I didn’t give him shit.

Sorry to steer things off course OP.

[E39lolz]

A credit union is your best bet. I am still a member at a credit union up in NY and they will finance any car/make/mileage/year and the rates are somewhat decent for used purchases. I have always been a car whore as at one point my wife and I had four BMW's between us but now we drive around in a Rustang and a e84. You only live once so do it man.

[Never Convicted]

Originally Posted by 2011CrazE89

Growing up my father never gave me a dime for school, clothing, nothing! He was too busy cheating on my mother chasing tale around. Now I have a family of my own and he had the nerve to ask me for $1K to pay some bills. Funny how that works. Needless to say I didn’t give him shit.

Sorry to steer things off course OP.

lol...I meant to say please pass the salt, but I blurted out "you ruined my life you bastard!" instead.

[PSUSMU]

Originally Posted by E39lolz

A credit union is your best bet. I am still a member at a credit union up in NY and they will finance any car/make/mileage/year and the rates are somewhat decent for used purchases. I have always been a car whore as at one point my wife and I had four BMW's between us but now we drive around in a Rustang and a e84. You only live once so do it man.

I'm planning on using PenFed CU.

[NemesisX]

Originally Posted by 2011CrazE89

Growing up my father never gave me a dime for school, clothing, nothing! He was too busy cheating on my mother chasing tale around. Now I have a family of my own and he had the nerve to ask me for $1K to pay some bills. Funny how that works. Needless to say I didn’t give him shit.

Sorry to steer things off course OP.

Oh don't worry. It happens in literally every..single..thread on these forums.

Out of sheer curiosity, who supported you financially as a child? Your mom? Don't tell me you founded your own company and made a windfall at the age of 5.

[firstkill]

if theres an emotional attachment then just get it through a credit union.

Also, if you buy from a Porsche dealer, they can manipulate the rates from other banks. Im not sure how their financial guy does it.

For me, they pulled my credit. I told them I had 2 credit unions offering me 1.99. They said the best they could do was 2.99. I started to walk out they told me they can do 2.25 if I signed today.

the 0.26% was much at the end of the loan and it was easier than dealing with an online/phone person like PenFed or Alliant.

Im not sure how they pushed it through, by my loan from the dealer was through Chase bank.

fk

[W Cole]

Originally Posted by PSUSMU

I'm planning on using PenFed CU.

I had my loan with Penfed previously. Switched for to DCU though, slightly better rates. Penfed was better to deal with though.

[2011CrazE89]

Originally Posted by NemesisX

Oh don't worry. It happens in literally every..single..thread on these forums.

Out of sheer curiosity, who supported you financially as a child? Your mom? Don't tell me you founded your own company and made a windfall at the age of 5.

Lol. My mom supported us. Three kids, minimum wage. We had nothing growing up. Had to take showers at the fire hydrant across the street. She did what she could with what she had. Now I live in a nice home, drive a Z4, great job and have the pleasure of hearing that my loser father filed bankruptcy. I hope chasing women around behind our backs was worth it.

[NemesisX]

Originally Posted by 2011CrazE89

Lol. My mom supported us. Three kids, minimum wage. We had nothing growing up. Had to take showers at the fire hydrant across the street. She did what she could with what she had. Now I live in a nice home, drive a Z4, great job and have the pleasure of hearing that my loser father filed bankruptcy. I hope chasing women around behind our backs was worth it.

Ahh nice. Good for your mom Looks like things worked out!

[Nate2046]

What's a 90's 911? Are you talking specifically about a 993 or 964? You said air cooled so I assume no 996. I bought my '74 3 years ago with cash. I did research JJBest which will make loans on collector cars in case I decided to go the long hood route. Ultimately, I couldn't justify spending 5 times as much for a slightly different look.

[MrPrena]

I was working my butt off at age of 27 as well.
You are probably doing better than I was when I was 27.

As long as you have enough $$ saved up for cloudy days, why not buy one?
Since interest rates are cheap, I would probably get financed. I would probably save that cash to invest in any types of investment that pays more than 150-200% of what you are getting a rate of vehicle loan at.

Originally Posted by PSUSMU

Me: 27, single, own a townhouse w/ 2-car garage, steady job, savings, retirement, fiscally conservative, etc. Paying off my 5-year/0.9% financing on my BMW this August. I intend to daily it for as long as it's reliable.

Wanted: (read NEED) a 90s 911. Prices have skyrocketed on aircooled Porsches in recent years, but they'll probably only continue to rise.
Personal goal is 911 by 30, but to not put a burden on my financials. I'm not made of money (laying out the full cash amount is doable but not something I'm comfortable with), and the smart thing would to not buy one or buy a cheaper project car, but I like to do what I want and I really want one.

Any of you who own a 2nd/weekend vehicle, how did you go about purchasing it? 100% cash, loan, partial loan, etc.? What's the smartest way to go about it?