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For car enthusiasts and people who understand quality engineering, expensive really has nothing to do with it. If I spend $200k on a Porsche, it's because it's an amazing piece of engineering and really fun to drive. I'm not buying it because it's expensive, it just happens to be expensive. Only flashy idiots care about how expensive their car is, it helps them feel like they matter.

 

No car. Let's think about it here. If you live in the city with public transportation and can expense Uber/Lyft, how much incremental cost is associated with owning a car? Cost of car + insurance + gas + parking would yield to around 700 - 800 per month if not more. I'd rather live in a bigger apartment. 

There is also limited opportunity to use the car as an M&A professional, if you know what I mean...

Now this is just my cheap ass talking, purely from a financial point of view.

 
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~$35K in 2016 for a sports car (won't specify the model as it's a fairly uncommon one and I don't know if people I know lurk on these boards) and resold it for around $23K earlier this year. Had like 5 legit offers. Didn't have the need for it for at least the next few years. Very fun car to drive, had amazing pickup.

 

I’m in BB and have a BMW just because it was the only thing that checked all my boxes. My next car will be a Toyota. I got to have the experience and I’ll be ready to get into something cheaper and easier to maintain and more reliable

I think I did this right
 

Do you really think its ethical to bring another human being into this world?

 

Tesla Model Y, don’t recommend getting a car. Never get much use out of one. I have a unique situation that would make not owning one somewhat more expensive even in my HCOL but not by much.

I plan on waiting awhile until I get my next car. Likely going for a Porsche or Tesla depending on depreciation on each of the cars and family situation.

 

Model Y is a fantastic choice, my cousin has one and he loves it.

 

In NY, anything other than a bicycle or scooter is just a money sink.  that doesn't mean you can't own a car if you were really into cars, just be prepared for it to be a money sink you get little utility out of.  after you factor in parking, insurance, tax, repair (from getting your car dinged), I'd be surprised if the total cost of ownership isn't twice as high as somewhere like Houston and the utility less than half.

 
Deal Team Six

Out of curiosity, what is your aggregate monthly expenses associated with your GT3RS (car payment, gas, insurance, parking, etc.)? It is my dream car but I dont think Im financially positioned to own one. 

Monthly loan payment: ~$2700/mo.

Insurance: I think I paid $1200 or so for 6 months of insurance in Feb? I really don't remember. This is going to be due again soon so I will update.

Gas: I don't look or keep track at what I pay for gas. This car is not fun if you're not above 6K in revs where all the power and noise is. Consequently I get about 12.5mpg. When I first got it, I think I probably spent $700-800 in gas in the first month but that's because I was driving it so often. You gotta pay to play.

Parking: $75/mo for a safe reserved spot in my apt garage.

Other costs this past year: Here's really the meat of the costs besides the core loan payment. After I first bought it, I found out shortly after it needed new spark plugs = $1100+. I've driven it 5K miles this year and I've trashed the Cup 2's = $2000 for a new set. Had PPF already, but got new tint installed = $900. I pay $100/mo to have a mobile detailer come out and clean it. Did an oil change = $350. Bought extra exhaust components (have yet to be installed) = $2000. 

It's definitely not cheap in the slightest but it's doable. I personally justified it after saving up enough over my analyst stint to pay off the car almost 2x over, which was only possible thanks to COVID supercharging my savings. I've invested all those earnings and my base currently comfortably pays for all the monthly expenses. I honestly have no regrets - this was also my dream car, and the dream to own one has always been why I strived for a good career in the first place. 

Another alternative you can consider is the 991.1 GT3, which is 90% of the experience at 60% of the cost. Honestly this route is probably what I should have gone with. They are an incredible value at their current market prices.

 
aw.ib

Any considerations when choosing the GT3RS (vs like a 991.1 or .2)? The 991.2 has also been a dream car of mine (even more than the new 992s) and will likely be the next in the stable but would love to hear what made you go with the RS. 

You have great taste! I also prefer the 991 generation to the 992. The 992 is a technical marvel, but the 991 holds a special place in my heart. It was the generation I drove my first sports car and Porsche ever (a C4S) and to me I far prefer the 991 looks. Plus the 991 sounds better thanks to no OPF, which is a huge portion of what makes these cars so special. 
In terms of why I chose mine, candidly it all came down to price. At the time I bought mine, a 991.2 GT3RS commanded a $50-70K premium over a 991.1. I could not justify that given in spirit the cars are the same. 
I also considered a 991.2 GT3, which is about the same price as the .1 3RS. However, that car feels in spirit very similar the .1 GT3, which could be had for a significantly cheaper price $130-150K. With the engine warranties in the .1 GT3 still lasting into 2024/25/26, it just didn’t make sense to me to go with a .2 GT3 when I could have effectively the same experience for much cheaper.

If I could choose again, I think a .1 GT3 might’ve been a better fit. The value you get for what they’re trading at right now is just too good. It’s slightly softer than my RS, but I don’t track the car (although I intend to do so one of these days! Hard to do a track day if you can’t get a weekend off…) and it would probably suit my needs better. And be a lot cheaper! No regrets though.

 

Having a vehicle provides a great deal of freedom that you don't realize until you actually have one. Even just simple things like getting out of the city on a whim one weekend, sure you can rent a car but that is often a friction point that will cause many people to just say "f*ck it" because they don't want to deal with the hassle of renting a car. I had a car while I was living in the city and a friend of mine didn't have a car, the amount of times he would ask to use it were significant. To me it's 100% worth the expense.

 

2018 BMW M3. I work in NYC but live in long island so I need to use it every time I go to work (drive to the LIRR).

 

2018 4Runner TRD Off-Road Premium with some upgrades (armor, bigger tires, roof rack, etc).  I'm in Scottsdale and spend a lot of weekends camping and hitting 4x4 trails.  Best vehicle I have ever owned and a ton of fun on dirt, but more comfy than a Jeep JK/JL.  Already at 100k miles and still runs like it's brand new. They also hold value very well and are easy to wrench on.  

 

VP3, SF based living outside of city. A car guy, so a meaningful portion of my bonuses over the years have gone to the hobby. Fortunate that most of my cars had seen minimal to no depreciation during my ownership. Some pics of more interesting ones below

Current:

2010 Ferrari 458

458

2022 Lexus GX460 (wife's car)

2013 Mazda 3 (my daily, waiting on a Taycan RWD if the shipping/12V battery delays ever subside)

Past:

2014 Audi R8 V10+

2018 Ford Raptor

Raptor-r8

2015 Camaro SS 1LE

Camaro

2015 BMW R Nine T (bike)

Bmw

 

VP3, SF based living outside of city. A car guy, so a meaningful portion of my bonuses over the years have gone to the hobby. Fortunate that most of my cars had seen minimal to no depreciation during my ownership. Some pics of more interesting ones below

Current:

2010 Ferrari 458

458

2022 Lexus GX460 (wife's car)

2013 Mazda 3 (my daily, waiting on a Taycan RWD if the shipping/12V battery delays ever subside)

Past:

2014 Audi R8 V10+

2018 Ford Raptor

Raptor-r8

2015 Camaro SS 1LE

Camaro

2015 BMW R Nine T (bike)

Bmw

Any chance you work in Healthcare IB? I think I remember the 458 and Raptor on a Reddit post you made a while back. Beautiful garage and great taste in cars

 

VP3, SF based living outside of city. A car guy, so a meaningful portion of my bonuses over the years have gone to the hobby. Fortunate that most of my cars had seen minimal to no depreciation during my ownership. Some pics of more interesting ones below

Current:

2010 Ferrari 458

458

2022 Lexus GX460 (wife's car)

2013 Mazda 3 (my daily, waiting on a Taycan RWD if the shipping/12V battery delays ever subside)

Past:

2014 Audi R8 V10+

2018 Ford Raptor

Raptor-r8

2015 Camaro SS 1LE

Camaro

2015 BMW R Nine T (bike)

Bmw

Beautiful 458 - are the wheels Novitec?

I had a hell of a hard time deciding between the 458 and F12 at the end of last year. To my eye the 458 is the most beautiful modern Ferrari and of course being the last rear-mid N/A V8 car to come out of Maranello will always be a classic. However, I sort of missed the window with prices skyrocketing and at the time F12's hadn't had such a meteoric rise to the point that 458's and F12's were within ~10% of each other.

Ultimately I decided to go with the F12 since I already have a GT3 and thought the V12 with the flat 6 would be a perfect pairing. Also the sound of the V12 is out of this world and puts the Porsche to shame. So far so good and pleased to see the values of F12's continue to rise. To many people (including myself) they look much better than the 812 as it is the last pininfarina designed V12. 

 

Thank you! The wheels are Forged Motegi wheels - the company made the wheels for the 458 GT3 racecar, and released a commercial version that was similar styling wise

I think you've chosen perfectly - the F12 paired with the GT3 is a fantastic combo. Also agree on the styling point. These high performance N/As are not long for this world

 

I just want to say I'm so jealous. Nothing beats a Ferrari NA V12 in sound. Sadly all the Ferrari NA products have edged upwards in price and I don't know if they'll ever come back down. The 458 and 488 are about the same price now, which is absolutely bonkers that a 10+ year old 458 is now more expensive than 991.2 GT3RS prices. At this point I don't think I'll ever own one.

Completely agree that the F12 is far more beautiful than the 812 as well. Both models should hold strong on prices into the future. The Competizione is the V12 swan song, end of era sadly. 

 

VP3, SF based living outside of city. A car guy, so a meaningful portion of my bonuses over the years have gone to the hobby. Fortunate that most of my cars had seen minimal to no depreciation during my ownership. Some pics of more interesting ones below

Current:

2010 Ferrari 458

458

2022 Lexus GX460 (wife's car)

2013 Mazda 3 (my daily, waiting on a Taycan RWD if the shipping/12V battery delays ever subside)

Past:

2014 Audi R8 V10+

2018 Ford Raptor

Raptor-r8

2015 Camaro SS 1LE

Camaro

2015 BMW R Nine T (bike)

Bmw

see you at skylonda

 

2010 E92 M3. I wouldn't call it expensive as I was able to walk out the door paying less than the sticker price of the average new car sold in '21. I really wanted a high revving NA V8, and a 8200 rpm 4.0L S65 did the trick. Great car to daily as well as track. 

I knew repairs / maintenance would be bad, but it is so much worse than I expected. Fun cars are a horrendous investment, but everyone is addicted to something I suppose. Cant imagine what it would be like to own a GT3RS or Mc 720S. 

Regarding my next cars, I have two avenues I am considering. If I go practical, I would honestly just get a 2012 civic / accord. If I want to go further down the rabbit hole, next car will likely be a Supra, C8, or a V10 R8. Depends on how ridiculous I get. 

For anyone contemplating a luxury / sports car as their sole vehicle, I would highly recommend getting a beater first. 

 

R8 V10 was pretty reliable when I owned it. At the time, Fidelity was offering an extended warranty for cars still under factory warranty, $3500 for +6 years of additional warranty over factory, bumper to bumper coverage with $500 deductible. The themostat on the car did end up failing during my ownership (fans would constantly run and temp never got up to normal), was replaced by the fidelity warranty. Otherwise a pretty solid car.

 

Assuming u live in Chicago ( based on the pfp), I would go with a newer r8. I have a ‘12 GT spyder and that thing is not the most reliable nor comfy for Chicago. Also the soft tops are not great for the weather.

 

IMO the E92 is the best M3 to ever be made. F80s sound like complete shit compared to E92s and my few friends who drive F80s can't cope with that fact.

I'd assume you'd have to deal with throttle actuators and rod bearings but what else have you had to deal with that makes it much worse than expected?

 

Couldn't agree more. Aside from the TBAs and RBs (which I did as preventative maintenance and immediately upon purchasing the car) I had to replace temperature sensors for both my transmission and engine, get my AC fixed, and a handful of other unanticipated expenses. Roughly $7-8k within the first 10k miles. 

 

I would grab a stick Civic Hatch as a daily, the 1.5T is really fuel efficient but still a blast to drive. Hatch is massive. 

The R8 should be pretty reliable and out of those 3 would be my pick, otherwise, I've heard good things about the Supra (haven't gotten a chance to test one yet). 

Not a huge fan of the C8. Maybe I'm just biased against American cars but it just doesn't do anything for me, excited for the Z06 though.

 

2019 Porsche 718 Cayman S

Cost about $75k. Wanted a 911 or used R8 but got killed in the market this year, and got a pretty good deal on a CPO cayman with the right options so pulled the trigger. Was originally shopping for a Cayman turbo GTS, but apparently the S and GTS have pretty much the same engine, and with an ECU tune both can produce the same HP and torque and get into the ~3.7-3.6s range for 0-60, which felt like a bargain at ~$75k relative to the brand name, reliability, and performance potential.

 

Honda HR-V.

I live in northern California and my company provides me with a car (expat) but as soon as I get my green card and the expat freebies end, I'm buying an older soft top Jeep Wragnler and taking out the doors.

 

This is the post I needed to convince me to recruit ft in Houston

 

‘21 Volvo XC90 T6 Inscription. Picked it up from the dealership about 5 months ago, only had 15k miles on it. Was rocking an older S90 for a bit but needed more space for weekend ski trips with the boys and afternoon bike rides.

 

Actually got my first car in college. Was a lucky bastard and bought a few Bitcoin in high school after a friend told me about it and sold around 17k. Used the proceeds to put 50% down on a 2015 RWD F Type R. Crazy to imagine these cars just 4 years ago were in the mid 40s. Was a CPO car and I got a good rate and 2 years of coverage.

Sold this car for a 10k profit during the Covid boom in 2020. Everyone wanted a sports car and this was the only year of a F type R before they went fully AWD (and was still the original styling before the current gen looks which are debatable at best).

Have been able to keep a car around for my 2 years as an analyst. Parking is nuts, 500 bucks a month. However, I think it’s important to consider what you buy and not the monthly payment or total cost. Since the F type I’ve tried to buy cars which fit my liking but anticipate future demand. My next “car” was actually a Ford Raptor. Have driven it 30k miles in 2 years and was offered a short while ago for almost sticker of what I paid for it as I had it custom ordered from factory and factory orders can’t have dealer mark up hikes at Ford. 
 

Won’t go into the insurance and nuances in this post but I think the biggest takeaway is to buy cars which don’t depreciate as much rather than just bottom line headline figures. An E92 M3 is likely a better buy than a 3 series from a newer generation simply because one holds value if not appreciates in value. The other is a widget. Do your diligence, be willing to take a weekend to travel to check something out, put in the effort to buy private part, and make your money on the buy not the sale.

 

Got off early tonight so here’s a continuation of the above and my personal thoughts on good cars to buy in this upcoming downturn.

Below 25k:

Select AP1 generation Honda S2k (assuming you can drive manual and can upkeep maintenance on a 20 year old car, find a good Indy shop, most dealer techs weren’t around long enough to know these cars well)

Subaru WRX STI Hatch: Subaru stopped making the hatch in 2014, and the eJ257 motor is unchanged from the previous gen to the current (pre 2022) gen. They discontinued the STI this year and the new car looks like a cross trek. These cars in good condition with acceptable mods will be worth a lot one day. 
 

Below 50k

cadillac CTSV (previous gen). Extra points for wagon or manual, or both!

e92 m3 with manual, competition (zcp), and carbon roof

W204 gen C63. Last of the naturally aspirated V8 C63s now that AMG is going hybrid 2L 4 bangers. Guaranteed future classic and easy for anyone to drive as it’s automatic and more of a daily car than the above.

 

Just bought a lambo, gwagon and ‘rarri with my internship money. Thinking about buying a Bugatti next week though since I still have money left over and feel insecure.

 
[Comment removed by mod team]
 

Giulias are great. Reliability is pretty good on the newer ones and they are a blast to drive.

Edit: Just realized you said Stelvio lmao, but my comment should go for all new Alfas anyways..

 

2007 Audi RS4

1991 Ferrari 348TS

1984 Mazda RX-7 Racecar

2017 Ford Raptor

Yes I’m a car guy. Funny enough I have net made money from these cars (kudos to the Ferrari really).

 

Houston is atrociously terrible. I am very selective where I drive mine and I've actually scouted out places that I've never been to beforehand to make sure I can clear a parking lot. A nose lift is an absolute must here.

I had a C63S a while back that I bottomed out the front lip on and it was so bad that I had to get a new bumper. And a C63S isn't even that low.

 

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