jraines87 Posted January 15, 2009 Report Share Posted January 15, 2009 As the title says, would you buy this knowing that the economy is in the tank right now? I have the same concerns as everyone else, but my wife needs a new ride and she said she was ok with taking my vehicle and I'd just get this? Quote Link to comment Share on other sites More sharing options...
Toadtorrent Posted January 15, 2009 Report Share Posted January 15, 2009 Depends on how much you drive it. Buying a depreciating asset in a bad economy doesn't make sense on paper...but cars are funny that way. If you do a lot of driving or really enjoy it...it's no longer just a tool...but part of "living" for you...so...buy a watch...buy a car...buy both. Quote Link to comment Share on other sites More sharing options...
dluddy Posted January 15, 2009 Report Share Posted January 15, 2009 If your motivation to buy it is to enjoy it and drive it - go for it. As an investment to be garaged - I'd say no.... You live in the right climate...If you can swing the payments and feel your income is secure...GO FOR IT Quote Link to comment Share on other sites More sharing options...
kronos twin Posted January 15, 2009 Report Share Posted January 15, 2009 I agree with Toad. Cars are not just conventional economic goods. A porsche is less than a practical vehicle, but it does fulfill other aspects of economic desire. The question is, does it satisfy your leisure/lifestyle/entertainment desires or would that be more adequately served by purchasing a more practical vehicle and getting a watch that does fulfill that desire. This is, of course, knowing nothing about your budget or lifestyle. Quote Link to comment Share on other sites More sharing options...
jraines87 Posted January 15, 2009 Author Report Share Posted January 15, 2009 Well, I guess the real question for me is, is the economy as bad as the news makes it out to be or not? I can afford it, but would hate to be stuck with that large of a payment of the country goes bankrupt in 6 months or so.... Quote Link to comment Share on other sites More sharing options...
Nanuq Posted January 15, 2009 Report Share Posted January 15, 2009 Don't do it. It will never again be worth what you're paying. Get one of these. In capable hands it's as quick as a Carrerra, not quite as fast, and it's doubling in value every 10 years. Quote Link to comment Share on other sites More sharing options...
kronos twin Posted January 15, 2009 Report Share Posted January 15, 2009 No one knows how bad it is. I wish there was a better answer, but an educated guess... give it six months, and if the markets don't stabilize, don't make a purchase like this. If you can wait. Economists are still trying to figure out what the ripple looks like in the global financial markets, and that data won't be around for a few months. Then we'll know what's going on domestically, or at least with more certainty. good luck, it's a sweet ride. If you get this, you know you'll have to get the flat 6, if you don't already have one. Quote Link to comment Share on other sites More sharing options...
jraines87 Posted January 15, 2009 Author Report Share Posted January 15, 2009 Bob, I know that it will not hold it's value, but that's not really a concern. I'm the type of person, that would live under a bridge and have a sweet ride... Always been that way. I've loved cars since I was a kid (My son is gonna be the same way and he's only 5). We need to buy a car right now (be it a porsche or mini van) and since every thing I read says it's the best time to buy a car, I figured I might as well find the replacement for my old ride kronos, I agree, that now is probably not the best time, from an economy perspective, but I'm thinking real, real hard about it Quote Link to comment Share on other sites More sharing options...
HauteHippie Posted January 15, 2009 Report Share Posted January 15, 2009 Well, I guess the real question for me is, is the economy as bad as the news makes it out to be or not? I can afford it, but would hate to be stuck with that large of a payment of the country goes bankrupt in 6 months or so.... Well, maybe this will make you feel better: The country already is bankrupt, and still will be in 6 months. I don't think anyone here can advise you on the purchase of a luxury item without any knowledge of your financial situation. But, in general, the economy is just getting started and we have not seen anything yet. The service sector is going to continue to bleed jobs for some time to come. And our government, instead of investing in rebuilding a decimated manufacturing base which could actually help revive our country, is instead going to pursue the precise fiscal and monetary policies that got us here in the first place by ballooning the debt with "feel good" but economically destructive stimulus to the tune of trillions. And as they, once again, inflate their way out of this (or try to) I would expect its effects to show up in consumer goods prices this time - meaning a lower standard of living for everyone, employed or unemployed. The only question, really, is how much lower? If all the overseas dollars finally start making their way home, then god help us. And one really has to wonder what's in it for China to finance the improvement of roads and bridges in the USA. The used car that is affordable today, could very easily be unaffordable in 5 years from now but not because of a robust economy... because of a severely crippled one. Quote Link to comment Share on other sites More sharing options...
jraines87 Posted January 15, 2009 Author Report Share Posted January 15, 2009 Well, maybe this will make you feel better: The country already is bankrupt, and still will be in 6 months. I don't think anyone here can advise you on the purchase of a luxury item without any knowledge of your financial situation. But, in general, the economy is just getting started and we have not seen anything yet. The service sector is going to continue to bleed jobs for some time to come. And our government, instead of investing in rebuilding a decimated manufacturing base which could actually help revive our country, is instead going to pursue the precise fiscal and monetary policies that got us here in the first place by ballooning the debt with "feel good" but economically worthless stimulus to the tune of trillions. And as they, once again, inflate their way out of this (or try to) I would its effects to show up in consumer goods prices this time - meaning a lower standard of living for everyone, employed or unemployed. The only question, really, is how much lower? If all the overseas dollars finally start making their way home, then god help us. And one really has to wonder what's in it for China to finance the improvement of roads and bridges in the USA. I was hoping you'd chime in Chieftang.... This is the info I'm looking for Quote Link to comment Share on other sites More sharing options...
Nanuq Posted January 15, 2009 Report Share Posted January 15, 2009 Ah, Jeff... see this is the old argument: vintage vs. contemporary. I'd never own a watch newer than 1976, and some would never own a watch older than 2000. Likewise, I'd never own a new sports car, IMO it's too much of a "look at me" thing. But I'd bend over backward to scratch up the money for a Sunbeam Tiger with a firebreathing V8. Both are sweet rides, but to me one stirs the ego and the other stirs the soul. Just my opinion... My opinion of the economy: this is the time to buy if you're smart, agile and looking forward a year and then again 2 years. Quote Link to comment Share on other sites More sharing options...
jraines87 Posted January 15, 2009 Author Report Share Posted January 15, 2009 Ah, Jeff... see this is the old argument: vintage vs. contemporary. I'd never own a watch newer than 1976, and some would never own a watch older than 2000. Likewise, I'd never own a new sports car, IMO it's too much of a "look at me" thing. But I'd bend over backward to scratch up the money for a Sunbeam Tiger with a firebreathing V8. Both are sweet rides, but to me one stirs the ego and the other stirs the soul. Just my opinion... My opinion of the economy: this is the time to buy if you're smart, agile and looking forward a year and then again 2 years. I agree Bob, but I'd be perfectly happy living on a deserted island with a sweet ride.... Don't really care what other people think. I suppose some guys want a hot wife so that others would go WOW, but I'd like a hot wife so I can go WOW Quote Link to comment Share on other sites More sharing options...
Nanuq Posted January 15, 2009 Report Share Posted January 15, 2009 Gotta agree with you... but seriously, how can you get excited over the sound of a flat-6 going poppity poppity poppity and whir whir whir, when you could have a firebreathing lumpy V8 going ba-WHOOMpa, rumble rumble rumble? Quote Link to comment Share on other sites More sharing options...
Demsey Posted January 15, 2009 Report Share Posted January 15, 2009 but seriously, how can you get excited over the sound of a flat-6 going poppity poppity poppity and whir whir whir, when you could have a firebreathing lumpy V8 going ba-WHOOMpa, rumble rumble rumble? Yeah, I'd buy the ZR1 too. And start looking for that bridge. But a nice bridge. Quote Link to comment Share on other sites More sharing options...
jraines87 Posted January 15, 2009 Author Report Share Posted January 15, 2009 Yeah, I'd buy the ZR1 too. And start looking for that bridge. But a nice bridge. What up Dems??? Yea, If I could find a ZR1, I'd probably go with that one. Already looked and Hendrick has none in the area Quote Link to comment Share on other sites More sharing options...
Nanuq Posted January 15, 2009 Report Share Posted January 15, 2009 Pffffffffffft. You guys should both know that the real excitement happens on two wheels. Quote Link to comment Share on other sites More sharing options...
jonthebhoy Posted January 15, 2009 Report Share Posted January 15, 2009 Jeff - As the proud owner of a lovely 6 year old but mint blue Jag XK8, I say go for it. Once you've dismissed depreciation, fuel cost, insurance etc. etc. and you get down to the enjoyability and affordability criteria then you've made your mind up. I rewarded myself following 18 months of solid hard work. I felt I deserved it and fortunately so did my missus. Je ne regret rien! "Head out on the highway!" JTB The only iffy thing for me is the colour. Quote Link to comment Share on other sites More sharing options...
Demsey Posted January 15, 2009 Report Share Posted January 15, 2009 (edited) Hey j ! Listen to John. I'm not about foolishly extending one's self beyond their means, but by another token; too many people make decisions with an "Oh well, maybe I'll do that the next time I come through this world." Attitude. Phooey! Buy it! Pffffffffffft. You guys should both know that the real excitement happens on two wheels. Now your speakin' my language! Edited January 15, 2009 by Demsey Quote Link to comment Share on other sites More sharing options...
omni Posted January 15, 2009 Report Share Posted January 15, 2009 As the title says, would you buy this knowing that the economy is in the tank right now? I have the same concerns as everyone else, but my wife needs a new ride and she said she was ok with taking my vehicle and I'd just get this?If you're even contemplating that question then I'd say no if those payments will be a burden on an income stream you're equally unsure of. On the other hand, the Porsche is a mental luxury that if you can afford it today with no concern, then buy it and enjoy it for as long as it is affordable. The big question, "Do I really need the car for my mental well being at the risk of my economic future." If you are used to living on the economic edge of taking chances, the answer is yes, no risk no gain. Just do it smartly and plan for the worst. I have all my retirement money tied up in retail development, it is quite evident to be a losing year for me nor the future that bright, yet I continue in buying those big-ticket consumer luxury goods that I deem affordable from studying the possible ramifications of the economic downturn to my own personal situation. For right now, they are affordable. The economic future has many aspects, some say wait until mid-year for the slide to halt, some say we will not see that until 2010, some even longer. It's all guessing, albeit, very-well educated guessing, just filtering how the big picture effects my industry. I don't care to point fingers of blame, its too late for that, only will we still go down the garden path to ruin or change course? Let see how the new administration handles it, it will either break my hopes for the future or cement it. I know where you are coming from. I also have a Porsche, I'm on an island (although not deserted) but don't care if I can rarely get it out of fourth gear without running out of road here. Its just a part of my current mental well being. Quote Link to comment Share on other sites More sharing options...
KB Posted January 15, 2009 Report Share Posted January 15, 2009 As a long time Porsche lover my biased opinion would simply be "Go for it", you do after all only have this one life to enjoy yourself. It seems to me that you have already done your figures and decided you can afford the car so the biggest question would probably be how much faith you have in your job security, it's not where the economy will be in 6 Months but whether you will still have the job that covers those repayments. Then of course there's the voice of my father ringing in my ears "Never buy a luxury item on higher purchase, if you can afford it you pay cash" Ken Quote Link to comment Share on other sites More sharing options...
Nanuq Posted January 15, 2009 Report Share Posted January 15, 2009 "No, your Honda can't do this" I LOVE IT!!! But this Honda can....... Okay J, I think JTB said it best... it's just down to the color now. As long as it's red. Quote Link to comment Share on other sites More sharing options...
phaedo Posted January 16, 2009 Report Share Posted January 16, 2009 I agree Bob, but I'd be perfectly happy living on a deserted island with a sweet ride.... Don't really care what other people think. I suppose some guys want a hot wife so that others would go WOW, but I'd like a hot wife so I can go WOW Exactly my attitude too, I might be wearing flash (rep) watches, but it isn't for others, it is for me; I prefer the more obscure designer stuff, because it is good, but others generally have not heard of it, because I like good stuff, but not trying to flash it about. In fact, i would almost prefer to be driving around in a Ferrari on a deserted island purely to avoid the rubber-kneckers looking at me. Go for the Porsche if that is what you are after, but of course be sure it is what you are after; if the economy does keep on a downhilll spiral it will make it that much harder to get rid of at a good price when (for example purely) you decide it was an AMG you were after in the end. Quote Link to comment Share on other sites More sharing options...
cornerstone Posted January 16, 2009 Report Share Posted January 16, 2009 Under a bridge?! You want a sweet ride and a waterfront cardboard box? That's some high quality real estate! Okay I've thought about this - and as you're probably expecting this is going to be immensely helpful.... PROS: - The 911 has excellent handling around hazards like soup kitchen queues, which is important in any depression. - It has hardly any space for grocery shopping bags - but on the plus side the reduced space will scale exactly to your reduced grocery affordability. - Your neighbors will probably like you less. Which is useful, as it dissuades them from peering over the fence to chat about the weather when you're trying to have sex with the wife in the spa. - If there's a financial apocalypse, a Porsche 911 is going to barter for more cans of beans than a '97 Taurus. - The car yard and the credit company will be bankrupt and non-existent in a few months anyway. It's basically a free car. CONS: It's red not black. Quote Link to comment Share on other sites More sharing options...
jraines87 Posted January 16, 2009 Author Report Share Posted January 16, 2009 As a long time Porsche lover my biased opinion would simply be "Go for it", you do after all only have this one life to enjoy yourself. It seems to me that you have already done your figures and decided you can afford the car so the biggest question would probably be how much faith you have in your job security, it's not where the economy will be in 6 Months but whether you will still have the job that covers those repayments. Then of course there's the voice of my father ringing in my ears "Never buy a luxury item on higher purchase, if you can afford it you pay cash" Ken Well it's all for nothing I suppose. If you notice my "Linked" picture has changed above. I can only guess they sold it yesterday cause it's not listed on their web site anymore. I was going to look at it tomorrow... Quote Link to comment Share on other sites More sharing options...
archibald Posted January 16, 2009 Report Share Posted January 16, 2009 The only economy you need to worry about is yours--here's a checklist: Job situation look stable look moving forward? If yes, Check! Feel like dumping the cash in the Market these days? Me neither--check! Gas prices down and likely to stay down---check! Keep wifey happy? If so--Check! Is the car priced sufficiently in line with the fact that you can't give away cars? If so--Check! Buy it!!! Quote Link to comment Share on other sites More sharing options...
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