Porsche Cayman S?

[accord93racer]

See the thing is, I Don't have a house or a family to support and I don't think I will for at least 10 yrs.

Are you planning to live with your parents for the next 10 years? Also the housing market in 5-10 years could be a lot different than it is now. Now is the time to buy a house.

[s2cmpugh]

Instead of telling you yes, no, or suggesting another car, I'm going to throw out a couple different ideas:

1. Build up a minimum six months worth of savings (cash) to live off of (rent, food, gas, insurance, etc.) just in case you do lose your job.
2. Pay down your highest interest rate debt first, then move onto the next.
3. Did you sign up for a 401k thru work? If not, sign your ass up now and contribute the bare minimum to meet the cash match. In fact, go WAY higher.
4. If you still live at home, and you showed up with a Porsche instead of moving out of my house, I'd change the locks within 24 hours. Consider respect for your parents too.

Costs for that car will be higher as others have noted AND don't use anything but Porsche parts or maybe something from RUF. Don't forget higher insurance along with the added stress of parking that thing somewhere and worrying about it.

I really do have a lot of respect for you on here as you've helped me a lot, so why not take a week to just think about it. During that time, maybe look at what is really important vs. satisfying a want.

Good luck and keep us posted!

Cris P.

[gloryaccordy]

NSX with Porsche brand cachet.

I have always wanted one.

But like I already told you, save your money first. Priorities.

[Losiracer2]

You can get bored with everything.


Just do it bro, next post from you should have a pic of you standing next to a porsche

hehe, yeah i wish I could get into that car that fast. Most likely 1 year out. Unless I come across the deal of the century.

Are you planning to live with your parents for the next 10 years? Also the housing market in 5-10 years could be a lot different than it is now. Now is the time to buy a house.

No I'll probably rent a house for a year or two with roommates while I'm looking, maybe get into one 2-3 yrs from now, that way I'll have a nice down payment saved up. Nice houses here can be had for 180k, so 20% of that is what? 36k? yeah 3 yrs from now at least.

Instead of telling you yes, no, or suggesting another car, I'm going to throw out a couple different ideas:

1. Build up a minimum six months worth of savings (cash) to live off of (rent, food, gas, insurance, etc.) just in case you do lose your job.
2. Pay down your highest interest rate debt first, then move onto the next.
3. Did you sign up for a 401k thru work? If not, sign your ass up now and contribute the bare minimum to meet the cash match. In fact, go WAY higher.
4. If you still live at home, and you showed up with a Porsche instead of moving out of my house, I'd change the locks within 24 hours. Consider respect for your parents too.

Costs for that car will be higher as others have noted AND don't use anything but Porsche parts or maybe something from RUF. Don't forget higher insurance along with the added stress of parking that thing somewhere and worrying about it.

I really do have a lot of respect for you on here as you've helped me a lot, so why not take a week to just think about it. During that time, maybe look at what is really important vs. satisfying a want.

Good luck and keep us posted!

Cris P.

I did sign up for a 401k, but I have to go through the probation period of 3 mo. at work, so in another 2 months I'll be able to contribute, most likely at least 5%.

I pay my parents rent and fix their van, do yard work on weekends, house maint. Already save them thousands by doing the maint. on the van vs. having them take it to the dealer. Just scored them a pair of pirellis by warranting them out at Discount for some sidewall cracking, the fronts will be next since they're already down to 4/32nds with 35k/85k warranty. Stuff like that is hard for them to argue since they don't know about tires. That's like 500 bucks right there. But I can see your point about having a Porsche in the driveway

NSX with Porsche brand cachet.

I have always wanted one.

But like I already told you, save your money first. Priorities.

yeah, I know....I'm already a 1/4 of the way done with paying off my school loans though

[Ralphie]

I'm not trying to rain on your parade....just don't think a Porsche for a new grad is necessary.

To each his own.

[JohnD1079]

Me and Ralphie completely dont get along, but I agree with him on this.

If you want status, do it my russian way and go salvage. Ok, so you have the hookup on labor (since you can do it yourself), what about parts? I rememver Turbo Dave on here a couple years back complaining how a power steering line on his bimmer was a few hundred $$$.

I dont want to call you an idiot because a) I remember you from way back, and I know you're a smart, hands on type of dude and b) you will just throw everything I say out the window. Have you talked to my parents about it? It really does sound like you are wanting to keep up with the Jones's. Why not get a Maserati Quattroportte then? Spank civic and have enough room to carry 4 broads in style.

Youd be much better off with a Hyundai Genesis, that new subie/lexus car everyone is raving about or something else similar to that.

[Tnwagn]

...We have projects line up for at least the next 5 yrs down the road already...

No

The company has projects lined up for the next 5 years. You being part of that game plan is yet to be determined.

I'm sure you're a reasonably smart guy who is a good worker, but I think you're letting your emotions get the better of you. In this thread, and the previous one, you are using hypotheticals to give yourself a "reasonable" analysis of how you can afford X, where X is any ridiculously overpriced material good you don't need.

Enjoy your new job and newfound level of wealth but pay off your depts in full and save enough money to protect yourself from financial pitfalls that may come your way (such as unemployment or sudden health care costs). Perhaps look at gaining true independence by finding your own place to live.

[owequitit]

Also, why is everyone trashing on the cost of ownership yet doesn't provide any convincing examples of what things would have to be replaced?

name some items other than pads, rotors, tires, obvious stuff that costs more since the car does have brembos, and a staggered michelin Pilot sport PS2 tire setup from the factory.

What honestly is so scary?

Go price parts. Then tell me it isn't scary. Honda parts are expensive...until you deal with OEM German parts. Have several friends with Bimmers and such and parts prices are NOT easy to swallow. Porsche is well known to be on an entirely different cost plateau altogether. The onus isn't on us to do our homework. I have seen them and dealt with them. I know how much they are when things start to go wrong, which is precisely why I don't own one myself...

Stuff other than primary wear items? Really? I suppose it is insignificant when a brake pad job runs 500-1000? If you DIY it, you are probably still going to spend close to 300-500 just for pads. Look at Bimmer pad prices sometime. Porsche is worse. PS2's run about $200 a tire, and since they are staggered uni-directional tires, you aren't going to get much out of them. Couple that with the fact that many of the strut equipped German cars rely on aggressive alignment settings to achieve the handling they do and they wear quicker. On many German cars, they have so much camber, that the tires are often done in 20K miles or so.

How about insurance? Have you looked at that? You are under 25-26 in a top line, Porsche sports car...

Considering you can't get to the engine in a Cayman because of the way the chassis was designed around it, how are you going to DIY it? How does that affect any warranty you have?

Like I said, you can ultimately buy whatever you want. It makes no difference. I think there are simply a whole slew of ownership costs that you aren't considering. If you are prepared to average about $1200-1300 a month on that car, then you are probably realistically able to consider it.

when a car company you love doesn't produce any RWD sports coupes anymore, where are you left to go if that's what you're after? Do you wait around, hoping that in the next few years they would produce one? Or do you look around and maybe get something different?

I've loved my Accord, that's why I've owned it for almost 9 yrs. But there comes a time where you're tired of the same old stuff and want something new.

i've seen muscle car guys change to imports, import guys change to muscle cars, Idk I feel something new would be fun and interesting.

At what point did I say anything about sticking with Honda? This is simply a strawman you have invented to try and discredit my opinion. Thinking that you aren't considering the costs on a Porsche and telling you stick only with Honda are not the same thing, and one of them is NOT what I said at all. Frankly, I am not sure that I would stick with Honda at this point, let alone tell you to do it. What I DID say was that I can think of a lot of cars that make a lot more sense than a Cayman from an enthusiast standpoint, only one of which was a Honda. That would be the NSX FYI, and only because I have always wanted one.

When we had our Cayenne S, tires were 1200 bucks, brakes were around the same. An oil change was around $230+. We had a headlight go out, Porsche replaced the WHOLE assembly $500+, for ONE headlight. They don't just replace the bulb, if one thing goes wrong, they replace the whole thing. Windshield wipers, that was $100+ easy. Mind you we got every thing done at a Porsche dealership.

The Cayman should also be bear the same cost of maintenance. Porsche makes wonderful cars, no doubt but its repairs that get you! Our family could pay for repairs and stuff with ease and the car was reliable but it was time to be replaced.

I say go for it, as long as you have the money for the upkeep on it. If not, look as something entirely out of it's class. BMW, Audi, Merc, all have around the same cost of ownership...

Well the key here would be to find a porsche authorized repair shop. Any dealership will rape you in price for repairs. I recall paying almost 400 for them to fix a sticking front left brake caliper on my Accord back in 2005 when I really didn't know about cars. Now that I know better, I can easily tackle things such as brakes, tires, etc at home or at a repair shop.

You should only go to the dealer if you have a warranty claim on something, otherwise, its just not worth it, there are plenty of shops out there that can do it for less than half the price and are still fully certified and accredited to do so.

Things like oil changes and brakes, I could do myself.

That is only going to alleviate some of the problem. I know many German import owners who do use 3rd party specialists, and it is still freaking expensive.

See the thing is, I Don't have a house or a family to support and I don't think I will for at least 10 yrs.

The career choice I've made is a solid choice and is FAR from being in jeopardy. I work with hybrid cars and hybrid technology. The government is mandating all cars meet CAFE standards of 35mpg for manufacturers in the very near future. How do you think they'll do that? with hybrid cars.

We have projects line up for at least the next 5 yrs down the road already.

People don't get bored of Porsches, I'm definitely bored of my Accord right now since I've practically modified everything on it.

The car isn't 150k new, its 60k new, I wont have to spend ass loads of money every week on it. I don't know where you got that mentality.

I vaguely remember having this conversation about 6 years ago with a guy about your age who worked for Countrywide. He had just purchased an E46 M3 to compliment his S2K and his new house. He told us about how he wasn't worried about job security because people would need houses and they were lending like crazy... Guess what happened to him.

Now, here are some things I would consider with your position on your job:

1) The government funding for such things is very much based on a specific regime. When the Dems are in control they throw money at green projects. If the Dems lose control, funding for such programs goes away. It is a heated election year, and with as controversial as Obama's ecology crusade has been, I would expect some of that to go first if he doesn't get re-elected. If the Dems lose control of Congress in November than it may likely go away even if he does get re-elected.

2) Most automakers are going to meet CAFE without a huge increase in hybrid/electric sales, because they make up such a small part of the total marketplace, that it is more significant when the gas engined Accord gets an extra 3-5MPG versus when a hybrid that is redesigned gets an extra 15MPG. It is simply a matter of volume.

Also, CAFE is not actually mandatory under the new law. As with most congressional laws, and previous versions of CAFE, the law is so convoluted and disconnected that it is primarily a political posturing campaign. Companies can still trade their way around their shortcomings. Also, based on the way CAFE is calculated, most automakers will need far less than the perceived increase with CAFE. For instance, several Honda/Toyota products will only need to increase their EPA score by about 10% to achieve the huge increase in CAFE for 2016. Since CAFE is based on a complex formula of "footprint" and uses the original formula for calculating mileage as well as estimates on volume, it is not exactly as simple as it seems.

Also, until hybrids become economically viable outside of a very narrow set of circumstances, they are not going to see widespread adoption. As popular as it is to greenwash people into thinking that hybrids are the solution to everything, the reality is that in the vast majority of cases, hybrids NEVER pay for themselves within the lifespan of the vehicle, and most never make money for the company that builds them. No matter how much we mandate them into existence, it WILL require the consumer to willingly embrace them in order to make them go. Until they are economically viable, that won't happen. Plug-ins have an even bigger uphill battle, because not only are the significantly more expensive and inconvenient to use, but many people are aware that they merely shift the ecological impact from the gas pump to the powerplant on the premise of "being green" when in actuality they are LESS green than a conventional car.

As long as the product supporting the industry you are in is on shaky economic ground, simple common sense would dictate that so is the industry that relies on them. Trust me, I know first hand. There is no such thing as job security when the fundamental product of the industry isn't stable.

3) Most importantly is the economic status of the US. It is pretty hard to say that you have any sort of job security when the economy is in the state of affairs it is, and many of your colleagues can't get or keep jobs because they simply aren't there or aren't stable... I would argue that there is no such thing as job security in the entire economy right now. If economic winds shift, contracts dry up, or the voters largely change their mind, you are likely to be out of a job. I would personally wait for the economic environment to stabilize before I assumed I had any kind of job security, but then again, that is just me. The older guys here telling you what might happen have only been around and experienced the downturn first hand, so we probably don't know anything about anything.

[J-specCb4]

the german factor.


its something i will never forget.

LOL

[remix405]

This Is very true tires on my old e46 m3 cost about $250-275 each and I had to replace the rear tires every 20k and the fronts every 40k insurance was $250 a month for a 21 year old male clean record I spent about $60-70 of premium gas a tank and got about 21-23mpg, the only good thing I can say about all this is the whole time I owned the car only one thing broke down on me that was the smg pump the whole repair cost me $900 this was at 100k I owned the car from 70k-142k miles

Porsche is worse. PS2's run about $200 a tire, and since they are staggered uni-directional tires, you aren't going to get much out of them. Couple that with the fact that many of the strut equipped German cars rely on aggressive alignment settings to achieve the handling they do and they wear quicker. On many German cars, they have so much camber, that the tires are often done in 20K miles or so.

How about insurance? Have you looked at that? You are under 25-26 in a top line, Porsche sports car...

[Ralphie]

the german factor.


its something i will never forget.

LOL

lol!

They are beautiful machines, but the cost is really crazy.

I'll never forget the first time I heard how much an oil change is on one of the supercars.

[deevergote]

everything owequitit said

This.







Honestly, if you're 1/4 finished paying off your student loans, then that means you have 3/4 left to pay. Pay that off first! If you want to get a new toy, get a cheap one. Buy something fun for $10,000... that's more than most people your age will be spending on a "fun" car.
I'm 32 years old. I have no student loan debt. I own a home, with a mortgage that is 2/3 paid off (about to refinance to do improvements, but that's another matter.) I have a job that pays quite well.
I am AGONIZING over the purchase of a $16,000 car that is 7 years old. My last new car was only $15,000.

Could I afford a $60,000 car? Sure. Would I be comfortable spending more than my monthly mortgage payment on a car loan? Hell no. Would I be able to save more than I spend, as I do now? Absolutely not.
I'm not going to say how much I make in a year, but I wouldn't doubt that it's at least on par with you, if not more (it varies from year to year.) Not to mention I get to write off a huge chunk for taxes thanks to all my work expenses. Wanting fancy things is all well and good... but it's important to be a responsible adult.
If you want a fancy car, buy something you can pay cash for. At least then, you won't have additional debt looming over you... debt that will cripple you if you lose your job, and destroy your credit once you start missing payments. Fresh out of college is NOT a time to expect job security.

[Losiracer2]

This.







Honestly, if you're 1/4 finished paying off your student loans, then that means you have 3/4 left to pay. Pay that off first! If you want to get a new toy, get a cheap one. Buy something fun for $10,000... that's more than most people your age will be spending on a "fun" car.
I'm 32 years old. I have no student loan debt. I own a home, with a mortgage that is 2/3 paid off (about to refinance to do improvements, but that's another matter.) I have a job that pays quite well.
I am AGONIZING over the purchase of a $16,000 car that is 7 years old. My last new car was only $15,000.

Could I afford a $60,000 car? Sure. Would I be comfortable spending more than my monthly mortgage payment on a car loan? Hell no. Would I be able to save more than I spend, as I do now? Absolutely not.
I'm not going to say how much I make in a year, but I wouldn't doubt that it's at least on par with you, if not more (it varies from year to year.) Not to mention I get to write off a huge chunk for taxes thanks to all my work expenses. Wanting fancy things is all well and good... but it's important to be a responsible adult.
If you want a fancy car, buy something you can pay cash for. At least then, you won't have additional debt looming over you... debt that will cripple you if you lose your job, and destroy your credit once you start missing payments. Fresh out of college is NOT a time to expect job security.

60k car? Its not 60k! I'll be financing around 32-35k, possibly even less down the road when I finally decide to get one (8-12 mo. down the road).

I don't think any new car(2006+) that is worth 10k, would be what I'm looking for. That to me is just disposing of money on something that might potentially need a lot of work. My thought is I might as well save up a little longer for a better car that'll be more worth it. Just like your situation with the CTS-V. Why settle for the early 5.7L editions when you can have the 6.0L better version for 1k more?

[wed3k]

id like to see if you could even hang with a 1500 dollar corrado in terms of maintenance.

dollar for dollar the corrado will hang with a civic si.

but the point is, a true sports car isn't fwd. i like fwd but rwd is always faster around the track. if you want specs, take a look at lemans or gt classes.

you ought try and really get into racing first. auto-x and indoor go kart is a start. Im no pro but this is where the pro's get started (young age and go karts and then formula 3)

[Gemini]

You are an adult Kai so get it if you want. Everyone telling you not to (including me) is just trying to lead you in the right direction so you dont have regrets. Honestly, who are we to try saving you from regrets?? If you really want it go for it...just remember there is a 50/50 chance this might go really wrong or possibly good . if you are ok with those odds then proceed