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      06-28-2019, 08:09 PM   #23
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Originally Posted by yayaya View Post
Can you afford the repairs if something breaks? If so then yeah. Would have got a 991.1 instead of F80 if I didn't have a kid
It isn't just repairs. 2018 M3 is still under free maintenance, as well as warranty.

YOLO, so if you can afford it, get the p-car, but at least drive a bunch of them to make sure you like it and that it is the right model for you.
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      06-28-2019, 08:19 PM   #24
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      06-28-2019, 08:36 PM   #25
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Originally Posted by Clark_Kent View Post
Forget the Porsche for a moment. Why are you paying ~$1,300 a month for an M3?
Beat me to it. Thats what I want to know
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      06-28-2019, 09:00 PM   #26
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I will also mention that, there are plenty of posters here that are older than you and way more experienced in this department. I'm sure almost all of them would recommend the same thing.

Be patient, think with your head and don't let emotions cloud your judgement.


If you literally just got out of college, you have plenty of years ahead of you to get another car that would fit better and probably cost less. As with most people who probably just gotten out of college, this is probably the worse time you can do this unless you have the means through family to afford it.
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      06-28-2019, 10:00 PM   #27
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and people wonder why 08 happened. jesus christ
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      06-28-2019, 10:42 PM   #28
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Don't ever roll the taxes into your payment.... Save the $50 and buy several of the books on this list: http://nymag.com/strategist/article/...nce-books.html

And no, the Porsche isn't worth it, especially a 2013 4S. It's not special, and definitely not worth $1350 a month.
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      06-28-2019, 10:49 PM   #29
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Quote:
Originally Posted by nicknaz View Post
YOLO, so if you can afford it, get the p-car, but at least drive a bunch of them to make sure you like it and that it is the right model for you.
Come on man, don't do this to the kid! Affording it isn't just being able to cover the payments. $1350 is a mortgage for someone just outta college.

OP, don't buy a used Porsche for $1350 a month. Don't buy an M3 for $1300. Unless it's a lease and you're writing it off through a business those payment numbers are insane. Save the money, do something smart with it. Use that $1300 to buy a rental property, or put away towards a business, then buy the car you want when you can actually afford it.
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      06-28-2019, 11:27 PM   #30
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At least get the GTS. They start higher but depreciate less. Seems like a lot for a ‘13 991.1 4S. Prices will drop on standard 991.1 cars with the 992 coming out soon. CarGurus will show you some price history, compare to 997 when 991 came out.

Test out the infotainment. It’s very outdated in the p-car IMO. That stuff does matter after the excitement of the car wears off.

I looked at both and decided on the F80 to better fit my needs. But I got two little ones.
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      06-28-2019, 11:44 PM   #31
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When you compare lb for lb on what each car's re-sale value is worth, the Porsche is the better buy. BUT, like others have commented, can you afford an almost 7 year olds car repairs? (And I ask that as something to think about- not to be rude at all, I don't even know you lol) ESPECIALLY Porsche? AND- Are you willing to give up a car with new technology for a car that is 7 years old?? I have too had an itch for a Porsche a few years older than my M4 solely based on re-sale value, and I found that it is not something I wanted to do bc I want the entire package, not just a dollar saved/made.
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      06-29-2019, 12:01 AM   #32
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and people wonder why 08 happened. jesus christ
There is truth to this. #priorities
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      06-29-2019, 12:08 AM   #33
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Keep the f80...YOLO!
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      06-29-2019, 12:39 AM   #34
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If it isn't a GT3, keep your F8X.
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      06-29-2019, 01:34 AM   #35
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If you lived in Cali/Florida and already had a daily then it might be a worthwhile change. The porsche is going to hold value much better than a new m3, but only if you keep the miles down.

I'm saying no for the fact that you don't have a daily and live in the dump that is NJ (i grew up there)
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      06-29-2019, 01:36 AM   #36
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      06-29-2019, 02:53 AM   #37
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Wait....you live at home? What about saving and/or using some of all that “good paying job” money for your own place???? If you’re doing that well buy something. Condo, studio loft, town house etc. Waaaay better investment on your money.

I just don’t get spending that much on a car?!?!? Dream car or not, I’d much rather live on my own. So you pick up a hot chic and bring her to your parents house?
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      06-29-2019, 07:37 AM   #38
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OP sounds like you made the right decision passing on the Porsche but still have a few poor financial/life decisions under your belt like taking out a $70k loan for a car straight out of school while sill living at home. My parents would never in a million years let me make such a poor financial decision while living under their roof. But I guess some cultures/generations are different.

I know that sounds harsh but many of us "older" guys have expressed the same sentiment. Just trying to give some advice even if it's not what you want to hear. Fortunately though you are still young and have time to correct any financial/life mistakes but don't wait too long
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      06-29-2019, 10:38 AM   #39
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Millennials, although I'm not too far from you in age, I just don't get you. AT ALL. $1,350/month on a car fresh out of college...holy shit.

Life dreams are not to be confused with life goals.
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      06-29-2019, 01:23 PM   #40
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Quote:
Originally Posted by Keca10 View Post
At least get the GTS. They start higher but depreciate less. Seems like a lot for a ‘13 991.1 4S. Prices will drop on standard 991.1 cars with the 992 coming out soon. CarGurus will show you some price history, compare to 997 when 991 came out.

Test out the infotainment. It’s very outdated in the p-car IMO. That stuff does matter after the excitement of the car wears off.

I looked at both and decided on the F80 to better fit my needs. But I got two little ones.
I've got a 14' cayenne with the same infotainment and it connects with my phone better than my 18' ZCP...
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      06-29-2019, 01:26 PM   #41
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I really appreciate everyone's input. I'm fully aware of the choice that I made. Agree it wasn't the BEST financial decision but the way I look at it I could be spending that money in worse ways.

Leasing was not an option for me. 1) I drive a lot 2) rates were horrible when I purchased. I'm talking $1200 LEASES. Those people who leased with those rates are the ones who should be asking themselves what they are doing with their money. (Unless you get the business benefit)

At the end of the day cars are my biggest hobby. I know I might not be thinking about the future when I say this but I don't care about having my own mortgage anytime soon. I'll cross that bridge when I get there. I can handle the monthly payments for now. Already almost a year in and owe 61K in another year it'll be 50k. Time flies and before I know it it'll be paid off. Worst case I'll refinance in a year or two to recuperate some monthly cash flow.

Doesn't make sense to sell the car now, get 55-60K for it and then buy a used car. I'd rather sacrifice the extra money for my own car knowing I've been the only owner and already invested time and a good amount of money into it.

I'm 23 and single so I've got my whole life to think about a house. If I wait until I get married/have kids no way I'd be thinking about a car like this. These cars were made to be enjoyed and I shouldn't have to wait until I'm older to enjoy it if I can pull it off now while I'm young.

Once again, I really appreciate everyone's input. Tons of family/friends advised against my decision told me to invest in multi family homes, finish student loan payments, etc. I took all of that into consideration before pulling the trigger on this car. I know what I got into myself into and I'm already in it and don't plan to back out (So long as I don't have any catastrophic life changes).

This thread is starting to get a bit off topic with everyone trying to lecture me (don't mean to be rude, but the thread isn't "did I make the right financial decision"...I know the answer is no lol )

Cheers!
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      06-29-2019, 02:43 PM   #42
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Quote:
Originally Posted by RustySeatbelt View Post
Come on man, don't do this to the kid! Affording it isn't just being able to cover the payments. $1350 is a mortgage for someone just outta college.

OP, don't buy a used Porsche for $1350 a month. Don't buy an M3 for $1300. Unless it's a lease and you're writing it off through a business those payment numbers are insane. Save the money, do something smart with it. Use that $1300 to buy a rental property, or put away towards a business, then buy the car you want when you can actually afford it.
Must be nice to live in a part of the US where $1300/mo can get you a mortgage on a rental property!

A key part of my post was “if you can afford it” and that’s up to OP to figure out.

You are right, I shouldnt tell OP to go for a 4s. Better advice “GT3 or bust”.
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      06-29-2019, 05:47 PM   #43
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Originally Posted by mpower95 View Post
I really appreciate everyone's input. I'm fully aware of the choice that I made. Agree it wasn't the BEST financial decision but the way I look at it I could be spending that money in worse ways.

Leasing was not an option for me. 1) I drive a lot 2) rates were horrible when I purchased. I'm talking $1200 LEASES. Those people who leased with those rates are the ones who should be asking themselves what they are doing with their money. (Unless you get the business benefit)

At the end of the day cars are my biggest hobby. I know I might not be thinking about the future when I say this but I don't care about having my own mortgage anytime soon. I'll cross that bridge when I get there. I can handle the monthly payments for now. Already almost a year in and owe 61K in another year it'll be 50k. Time flies and before I know it it'll be paid off. Worst case I'll refinance in a year or two to recuperate some monthly cash flow.

Doesn't make sense to sell the car now, get 55-60K for it and then buy a used car. I'd rather sacrifice the extra money for my own car knowing I've been the only owner and already invested time and a good amount of money into it.

I'm 23 and single so I've got my whole life to think about a house. If I wait until I get married/have kids no way I'd be thinking about a car like this. These cars were made to be enjoyed and I shouldn't have to wait until I'm older to enjoy it if I can pull it off now while I'm young.

Once again, I really appreciate everyone's input. Tons of family/friends advised against my decision told me to invest in multi family homes, finish student loan payments, etc. I took all of that into consideration before pulling the trigger on this car. I know what I got into myself into and I'm already in it and don't plan to back out (So long as I don't have any catastrophic life changes).

This thread is starting to get a bit off topic with everyone trying to lecture me (don't mean to be rude, but the thread isn't "did I make the right financial decision"...I know the answer is no lol )

Cheers!
Man you really have the wrong mindset and it sounds like your friends/family were trying to give you sound advise which you ignored. There are soooo many cars way less expensive than a brand new M3 that would still be very nice at 23. And you don't need to go out and buy a house or investment property like so many people seem to say in these types of discussions. How about just find a nice safe place to rent so you are not living with your parents. The simple life skills of learning to take care of yourself are invaluable. Not to mention meeting a girlfriend is kind of hard when you don't have your own place. But to each their own.
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      06-29-2019, 06:56 PM   #44
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Quote:
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Quote:
Originally Posted by mpower95 View Post
I really appreciate everyone's input. I'm fully aware of the choice that I made. Agree it wasn't the BEST financial decision but the way I look at it I could be spending that money in worse ways.

Leasing was not an option for me. 1) I drive a lot 2) rates were horrible when I purchased. I'm talking $1200 LEASES. Those people who leased with those rates are the ones who should be asking themselves what they are doing with their money. (Unless you get the business benefit)

At the end of the day cars are my biggest hobby. I know I might not be thinking about the future when I say this but I don't care about having my own mortgage anytime soon. I'll cross that bridge when I get there. I can handle the monthly payments for now. Already almost a year in and owe 61K in another year it'll be 50k. Time flies and before I know it it'll be paid off. Worst case I'll refinance in a year or two to recuperate some monthly cash flow.

Doesn't make sense to sell the car now, get 55-60K for it and then buy a used car. I'd rather sacrifice the extra money for my own car knowing I've been the only owner and already invested time and a good amount of money into it.

I'm 23 and single so I've got my whole life to think about a house. If I wait until I get married/have kids no way I'd be thinking about a car like this. These cars were made to be enjoyed and I shouldn't have to wait until I'm older to enjoy it if I can pull it off now while I'm young.

Once again, I really appreciate everyone's input. Tons of family/friends advised against my decision told me to invest in multi family homes, finish student loan payments, etc. I took all of that into consideration before pulling the trigger on this car. I know what I got into myself into and I'm already in it and don't plan to back out (So long as I don't have any catastrophic life changes).

This thread is starting to get a bit off topic with everyone trying to lecture me (don't mean to be rude, but the thread isn't "did I make the right financial decision"...I know the answer is no lol )

Cheers!
Man you really have the wrong mindset and it sounds like your friends/family were trying to give you sound advise which you ignored. There are soooo many cars way less expensive than a brand new M3 that would still be very nice at 23. And you don't need to go out and buy a house or investment property like so many people seem to say in these types of discussions. How about just find a nice safe place to rent so you are not living with your parents. The simple life skills of learning to take care of yourself are invaluable. Not to mention meeting a girlfriend is kind of hard when you don't have your own place. But to each their own.
Just because I didn't follow their advice mean that I ignored it. I actually lived 4 years alone when I went to college. My parents taught me how to cook, clean, all the "life skills" I need to be on my own. You guys act like I'll be paying this car off the rest of my life. It's a 60 month loan that's almost a year paid off. I'll be 27 when the car is paid off not like I'd have a mortgage paid off by then if I didn't have the car lol some people spend their whole lives paying it off. I'd rather enjoy my M3 than live on my own for a few years is that such a crime?

Please stop judging my financial decisions. Some people lease cars some people buy them some rent their whole life others buy a home TO EACH THEIR OWN.
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