natedogg624 Posted December 20, 2008 Report Share Posted December 20, 2008 i dont know how to stop him...he's got a very nice 87 Porsche 911 whale tail targa that he got around 5 years ago now. never been in the rain, not a scratch on it, you know the drill.he's now got his eye on a 911-996, which is still a porsche but obviously its the classic that he's got now. IMO the 87 is far better than the 996, in terms of pure classic porsche. he's reasonings are good though, its quite a money hog (sound familiar track guys?) as its 1000-5000 a year in maintenance alone, not to mention its air cooled so it takes a ton of oil. he test drove a new 997 a month ago and loved the new tech out. obviously the 996 isn't a match for todays lineup, but its still got a lot of nice tech that the 87 never had. maybe ill convince him to put it in storage and let me buy it off him when i graduate although i think id get a resto job and turn it to a 3.6L RSR with twin turbo's mmmmjust a little post to clear my head. what are your thoughts if you have any? Quote Link to comment Share on other sites More sharing options...
Kyle Hunter Posted December 20, 2008 Report Share Posted December 20, 2008 My thoughts are that the build quality on the 996 isn't neary ass good as the 911. Quote Link to comment Share on other sites More sharing options...
max power Posted December 21, 2008 Report Share Posted December 21, 2008 Gump, you need this. Quote Link to comment Share on other sites More sharing options...
Tomcat0403 Posted December 21, 2008 Report Share Posted December 21, 2008 Holy Crap...that sucks...he needs to keep the 87 Quote Link to comment Share on other sites More sharing options...
kawi kid Posted December 21, 2008 Report Share Posted December 21, 2008 how many miles is he putting on it a year if its taking that much in matienence Quote Link to comment Share on other sites More sharing options...
natedogg624 Posted December 21, 2008 Author Report Share Posted December 21, 2008 good question. if i had to take an educated guess i would say 2500-5000 miles in 5 years.reason being its not a daily driver at all. doesn't take it out if there is any hint of salt on the roads or rain in the forecast. Quote Link to comment Share on other sites More sharing options...
Tomcat0403 Posted December 21, 2008 Report Share Posted December 21, 2008 First off i think your dad needs to drive it more! How much do you think he could get for it? Quote Link to comment Share on other sites More sharing options...
natedogg624 Posted December 21, 2008 Author Report Share Posted December 21, 2008 he bought it for 13k, got it from a house flipper who hadn't flipped a house lately and needed moneyi think the market for them is around 22-28k right now, but its like the stock market they can go up or down at any time.at least they don't depreciate Quote Link to comment Share on other sites More sharing options...
JonS Posted December 21, 2008 Report Share Posted December 21, 2008 http://www.youtube.com/watch?v=ncCMLeunx4c Quote Link to comment Share on other sites More sharing options...
natedogg624 Posted December 21, 2008 Author Report Share Posted December 21, 2008 lol Quote Link to comment Share on other sites More sharing options...
The King Posted December 21, 2008 Report Share Posted December 21, 2008 I have a trig final to study for and I'm being chased by Guido the killer Pimp.. Quote Link to comment Share on other sites More sharing options...
kawi kid Posted December 21, 2008 Report Share Posted December 21, 2008 if he done drive it that much i would say park it in a safe place and dont drive it. take the insurance off and let it sit. if he isnt driving it its not costin him money. i did the same with my type R for about two years, i only drove it about 5000 miles in two years. just enought to make sure it worked. Quote Link to comment Share on other sites More sharing options...
jagr Posted December 21, 2008 Report Share Posted December 21, 2008 I have a trig final to study for and I'm being chased by Guido the killer Pimp..Wow thats Risky Business right there... Quote Link to comment Share on other sites More sharing options...
kawi kid Posted December 21, 2008 Report Share Posted December 21, 2008 I have a trig final to study for and I'm being chased by Guido the killer Pimp..i completely over looked this post Quote Link to comment Share on other sites More sharing options...
Todd#43 Posted December 21, 2008 Report Share Posted December 21, 2008 at least they don't depreciateAre you kidding me??That car sold for over $40,000.00 new. Average retail right now is around $18,000.00. Without getting into the decrease in the value of the dollar the vehicle HAS depreciated. Quote Link to comment Share on other sites More sharing options...
natedogg624 Posted December 21, 2008 Author Report Share Posted December 21, 2008 im comparing with other domestic cars that you can't sell for more than 4k after you bought it 5 years earlier for >20k. your right, they do depreciate but they can also gain value as well over time.18000? hmm ill have to double check that. last i checked there were a lot of late 80's Porsche's selling for mid 20k's. that was a few years ago though... Quote Link to comment Share on other sites More sharing options...
Todd#43 Posted December 21, 2008 Report Share Posted December 21, 2008 im comparing with other domestic cars that you can't sell for more than 4k after you bought it 5 years earlier for >20k. your right, they do depreciate but they can also gain value as well over time.18000? hmm ill have to double check that. last i checked there were a lot of late 80's Porsche's selling for mid 20k's. that was a few years ago though...Don't look at what people are asking for a car to determine its "value". Its really only worth what someone will pay for it. I'd assume that there isn't a ton of "collector" value to the car yet and with the market the way it is, the perceived "value" of cars like these will continue to drop. The car has lost over 50% of its original value. It has depreciated. It hasn't gained any value. You cant have something depreciate AND gain value. Doesn't happen.Additionally, look at the value of the dollar in 1987 compared to today, based on the Consumer Price Index. That $40,000.00 Porsche would cost you over $74,000.00 in today's dollars. If the average retail is $18,000.00 you've now lost $56,000.00 in value based on today's money, and you haven't even added in the cost of ownership - maintenance, insurance etc. Even at a paltry $1,000.00 per year (not adjusted) you can add another $21,000.00 to your net loss on the car (if you owned it from day one).Sure, it's a very cool car but your chances of making money on something like that are about zero. Quote Link to comment Share on other sites More sharing options...
natedogg624 Posted December 21, 2008 Author Report Share Posted December 21, 2008 Don't look at what people are asking for a car to determine its "value". Its really only worth what someone will pay for it. I'd assume that there isn't a ton of "collector" value to the car yet and with the market the way it is, the perceived "value" of cars like these will continue to drop. those were final selling prices, not asking prices. The car has lost over 50% of its original value. It has depreciated. It hasn't gained any value. You cant have something depreciate AND gain value. Doesn't happen.true statement. not arguing with that. im saying within the past few years the cars selling price has gone up and down. selling prices, not asking prices. Additionally, look at the value of the dollar in 1987 compared to today, based on the Consumer Price Index. That $40,000.00 Porsche would cost you over $74,000.00 in today's dollars. If the average retail is $18,000.00 you've now lost $56,000.00 in value based on today's money, and you haven't even added in the cost of ownership - maintenance, insurance etc. Even at a paltry $1,000.00 per year (not adjusted) you can add another $21,000.00 to your net loss on the car (if you owned it from day one).Sure, it's a very cool car but your chances of making money on something like that are about zero.he would make money since he bought it for 13k and the current market as you say is around 18k. but i understand your point.don't want to turn this into a bickering match. Quote Link to comment Share on other sites More sharing options...
Todd#43 Posted December 21, 2008 Report Share Posted December 21, 2008 he would make money since he bought it for 13k and the current market as you say is around 18k. but i understand your point.I got that from the NADA Guide. High retail was around $25,000.00, average around $18,000 and low at $16,000. Market value could be different based on where the car is.You said that he probably had $1,000.00 - $5,000.00 in annual maintenance costs, right? Take $2,000.00 per year for 5 years, and you get $10,000.00. Add that to the $13,000.00 original purchase price and you've got $23,000.00. I have NO idea what insurance would cost over the 5 years, but add that in and I'm guessing you've got to sell it for at least $25,000 to break even.don't want to turn this into a bickering match.I don't want to do that either. I just wanted to point out that something can't depreciate AND gain value. Quote Link to comment Share on other sites More sharing options...
natedogg624 Posted December 21, 2008 Author Report Share Posted December 21, 2008 I got that from the NADA Guide. High retail was around $25,000.00, average around $18,000 and low at $16,000. Market value could be different based on where the car is.You said that he probably had $1,000.00 - $5,000.00 in annual maintenance costs, right? Take $2,000.00 per year for 5 years, and you get $10,000.00. Add that to the $13,000.00 original purchase price and you've got $23,000.00. I have NO idea what insurance would cost over the 5 years, but add that in and I'm guessing you've got to sell it for at least $25,000 to break even.ok that makes sense now. didn't consider the maint/ins costs in there. Quote Link to comment Share on other sites More sharing options...
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