Running costs

DM · 22 Apr 2011 at 20:21

Scubascorpion said:
How on earth do you lot spend so much maintaining a car.
Budgeting a grand a month Jesus Christ.

I don't think I've managed to spend that over three cars and that includes modifying the things.

You know which way up a spanner and screw driver go, some of us are just stupid and have to pay

Peerzy · 22 Apr 2011 at 20:22

DM said:
Is he willing to use a bit of finance and buy a 30k 997 from OPC with the warranty? I never suggest finance but then iv never seen a 22 year old budget a grand a month to run a car. If he is then buy a 997.

If he only wants to spend 20k but still has to have a Porsche then a Boxster.

Nah when I spoke to him yesterday he was totally against finance. It's his budget, or continue to save (which he didn't really want to do as it's a case of then when do you stop and he'll end up sitting on £30k-£35k in a years time and then want a £40k GTR or something much sillier.

DM · 22 Apr 2011 at 20:25

Peerzy said:
Nah when I spoke to him yesterday he was totally against finance. It's his budget, or continue to save (which he didn't really want to do as it's a case of then when do you stop and he'll end up sitting on £30k-£35k in a years time and then want a £40k GTR or something much sillier.

Then get a Boxster, and spend all of his budget on it, tell him he will regret a 20k 911.

But you cant tell some people can you, thats when you have to smile nod and wave

Fuzz · 22 Apr 2011 at 20:25

DM said:
You know which way up a spanner and screw driver go, some of us are just stupid and have to pay

True but a yearly service with a few parts isn't going to be more than £500-£600 quid.
If something was costing me a grand a month (retail) then I'm either mechanically unsympathetic fool that can't drive or the car is a death trap fit for the scrap yard

Morba · 22 Apr 2011 at 20:26

Peerzy said:
Thought these were still £25k+? Surely get a 911 (997) over a Caymen S if he can afford 911 running costs?

I've been saying all along that he could put a big deposit and finance the rest

Doesn't the cayman have 20k service intervals? Even better for runnig costs

Edit: just seen comment about finance, boxster it is then.

Joshy · 22 Apr 2011 at 20:28

Peerzy said:
Nah when I spoke to him yesterday he was totally against finance. It's his budget, or continue to save (which he didn't really want to do as it's a case of then when do you stop and he'll end up sitting on £30k-£35k in a years time and then want a £40k GTR or something much sillier.

I think in truth he'll probably find a nice girl and/or want to get out of his parents' house before he'll be looking at GTRs.

Peerzy · 22 Apr 2011 at 20:29

£20k on a Boxster when apparently you can get a decent current gen 911 for £25k?

He's not willing to spend years saving and saving for a £35k 911 like Gibbo just got but surely if he can hang on 4-5 months and get a 911 instead that's worth it?

Joshy said:
I think in truth he'll probably find a nice girl and/or want to get out of his parents' house before he'll be looking at GTRs.

You must have missed it earlier on in the thread mate - he pretty much lives with his GF in her house and spends very little time at home.

Morba · 22 Apr 2011 at 20:32

He either has £18k now or he is happy to save for another 7 months? Make your/his mind up

If he has £25k budget then of course a 997 makes a better buy

Peerzy · 22 Apr 2011 at 20:34

Morba said:
He either has £18k now or he is happy to save for another 7 months? Make your/his mind up
If he has £25k budget then of course a 997 makes a better buy

He doesn't know what he wants.

He's got £18k right now to buy a car. It's taken him 18 months to save, the way I see it if you said current Boxster S in 2 months or current 911 in 6 months I wouldn't consider the Boxster S.

DM · 22 Apr 2011 at 20:35

Peerzy said:
£20k on a Boxster when apparently you can get a decent current gen 911 for £25k?

He's not willing to spend years saving and saving for a £35k 911 like Gibbo just got but surely if he can hang on 4-5 months and get a 911 instead that's worth it?

You must have missed it earlier on in the thread mate - he pretty much lives with his GF in her house and spends very little time at home.

Yes he could do that but to get one for 25k then hes got to buy privately, and have the dedication to get it checked inspected properly not rush in.

Then what happens when he sees the perfect car (he thinks) but the bloke is dead set on 27k? Well now going that other 3k and just buying an OPC car in the first place starts making sense at 30k dont it? If hes gonna save, save more save 10k.

Then 90 days later get on and get the warranty from OPC, i sound like a stuck record about that but its the right way, want a real life example, Will Gill, cracked cylinder on his 997 now, 5.5k bill coming up.

Peerzy · 22 Apr 2011 at 20:39

DM said:
Yes he could do that but to get one for 25k then hes got to buy privately, and have the dedication to get it checked inspected properly not rush in.

Then what happens when he sees the perfect car (he thinks) but the bloke is dead set on 27k? Well now going that other 3k and just buying an OPC car in the first place starts making sense at 30k dont it? If hes gonna save, save more save 10k.

Then 90 days later get on and get the warranty from OPC, i sound like a stuck record about that but its the right way, want a real life example, Will Gill, cracked cylinder on his 997 now, 5.5k bill coming up.

Nah point well made, probably best for him to avoid a 911 then unless he's willing to hold off or take more out of his savings/wage.

DM · 22 Apr 2011 at 20:41

Peerzy said:
Nah point well made, probably best for him to avoid a 911 then unless he's willing to hold off or take more out of his savings/wage.

People just dont realise, you'd CRY if you knew what iv wasted on blown up Porsche bits over the years cos i never heed my own advice and bother with a warranty, but if you are on any sort of budget, its the smart move, get that warranty.

eidolon · 22 Apr 2011 at 20:53

[TW]Fox;18963130 said:
What about it?

I didn't say depreciation was not a consideration as it quite obviously is. I said it did not form part of monthly cashflow as it doesn't.

It's realised at point of sale.

It's just a general question as it probably forms the largest part of the overall cost for most of us. Sure your car might only cost £150 per month in consumables but it might lose £250 in depreciation too which means that you're going to have to save that £250 each month if you want to buy a similar priced car in a few years time when you come to change.

[TW]Fox · 22 Apr 2011 at 23:14

Absolutely but when you are not spending that £250 a month fixing yet more broken stuff, you can save it towards the next car

Its unlikely you'd spend in repairs what you'd spend in depreciation on a far newer car, but the point I was making is that actually the additional spend on depreciation is not quite as huge as you'd think when you offset it against reduced repair bills.

You can also 'Pay as you go' depreciation if you like by using part bank loan, part cash when the part cash amount is your predicted residual value when you want to get rid of the car, and the loan is over a duration equal to the predicted ownership period. You are in effect then paying the depreciation monthly plus some interest, and at the end of the period once the car is sold you end up with your original stake back. There is obviously risk involved here if you get your sums wrong or the bottom falls out of the market

Peerzy · 26 Apr 2011 at 17:54

To bring things back to the original topic slightly I spoke with him today about everything. He really was up for a 911 as he sees that as pretty much the top thing a 22 year old could aim for who isn't a totally minted by family or something. He agrees though that £20k on an old shape seems silly when the new ones are only £5k more, but then also agrees no point getting a cheap one with someone like this. £30k for the car and then nearly £2k on insurance, plus warranty cost and few other bits and pieces means it's not really on.

He isn't going to borrow for the car and doesn't really want to spend the next year saving for it after spending the past 18 months saving already.

So what else should he be looking at? He want's a fun, involving and impressive car for a 22 year old.

Boxster S is probably top of the list and I've never had the chance to really look at these types of cars before so don't know what to suggest.

Running costs can be pretty high, insurance might be an issue but he's willing to pay £1600 for a 911 so that gives you an idea, doesn't need 4/5 seats but must have 2 and a boot (so nothing like a Westfield!), apart from that he's pretty open to considering other stuff. Nothing big, he drove the 335i at the same time as me and enjoyed it but we both agreed it was too refined for us.

Budget at the moment is £20k but as every month passes this will go up at roughly £1k a month.

He likes the look of THIS.

[TW]Fox · 26 Apr 2011 at 17:56

Nisssan Skyline GT-R R34.

Why is he so hung up on having an impressive car 'for a 22 year old'? You get this a lot on PH as well, people with semi decent cars desperate to tell everyone how old they are not.

Peerzy · 26 Apr 2011 at 18:00

[TW]Fox;18991903 said:
Nisssan Skyline GT-R R34.

Why is he so hung up on having an impressive car 'for a 22 year old'? You get this a lot on PH as well, people with semi decent cars desperate to tell everyone how old they are not.

It's his way of saying "I don't care how good a 15 year old Civic is, or how great a Megane 225 is I'm not going to get one!"

He is interested in a Porsche Boxster S - so is asking for similiar cars in the same sort of standing. The 22 year old bit is there as he still does need to consider insurance slightly.

Simon · 26 Apr 2011 at 18:11

Does this guy buy his clothes based on the label too ?

[TW]Fox · 26 Apr 2011 at 18:14

Simon said:
Does this guy buy his clothes based on the label too ?

He want's a really impressive pair of shoes... for a 22 year old.

Peerzy · 26 Apr 2011 at 18:16

I'm not sure why it's such a big deal, he want's a good, fast, fun and impressive car.

It doesn't have to be a Porsche, that's just what he can afford and is looking at. It could be a BMW Z4 M or something, but he basically doesn't want an Astra VXR, 15 year old Honda in white, a 20 year old M3 and so on?

He's asked me for advice and I thought I'd ask on here as I'm not 100% sure - surely there is more help than just OMG WHY DOES HE WANT A FLASH CAR FOR A 22 YEAR OLD?

It was just the easiest way of getting his needs across on a forum.