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Looking to buy a 997 Turbo but can I afford it? Advice pls..

smoggy12345

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Joined
30 Jul 2013
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3
Hello all,

I'm new to the site so i'll say a bit about me.

Always had a passion for cars even since I was a kid playing 'stunts' on my IBM 486 lol

Had a few performance cars in the past but and trying to work my way up the perofrmance ladder. In the past i've had a civic type R, VX220, and 2 300bhp subaru Impreza's which were all AFFORDABLE performance cars but i've been looking to take the plunge on a car that i've vowed to have ever since I drove a 911 on a track day.....a 911 Turbo!!

I currently earn approx £66,000+ per year. From £3650p/m i have roughly 1800p/m outgoings (which would include the loan going towards the car).


Maximum I'm willing to spend is roughly £43K which would mean the earliest model 997turbo probs an 06 with ~40K miles.

What I am asking is.....is it realistic I can afford to run this car or is it likely going to be financial suicide for me? With it being an older model are there any expensive problems I might run into?

Obviously I dont want all of my spare cash to go on the car, would like to be able to save a respectable amount each month. Could anyone give an estimated figure of the costs of running a 997turbo on average over say 3years (not including depreciation)?

I only do around 5K miles per year and the impreza I have currently only does 23mpg so petrol costs are not too much of an issue. What I am concerned about is tyres, discs and pads, servicing and expensive common problems etc...

Any other advice would be greatly appreciated....stuff like things to look out for etc...

SOOOOOOO, can I afford this car or am I waaayyyy off ?? LOL (fingers crossed!!)


Thanks alot!!

Dean.
 
I take it you're a fellow Boro boy then by your name ?
You forgot to factor in your beer money, that leaves you with £2.50 per month to spend on the car ;-) :floor:

Seriously though, I shy'd away from the turbo and went for NA purely to try to keep costs down but to be honest its probably pot luck, something goes bang on these either way you're going to be looking at big bills.

All you can do is get inspections etc to try to minimise risk.
 
What help convince me to go for the Turbo was the fact that the running costs were less than what I had, plus it would be a newer car, under warranty. I had an Audi RS4 2.7T beforehand, which had given me some bigger bills than I wanted, and wasn't getting any younger.

Prices for tyres and brakes were comparable, £1k approx for a set of tyres, and most of the running costs on the Porsche website were pretty much comparable. With 2yr/20k service intervals that should compare well with the Impreza, although I am allowing for an annual oil change as well

To me the turbo had the better rep for reliability over NA, and getting mine with effectively 2.5yrs OPC warranty, most of the cost given my mileage should just be regular servicing.

It might be worth pushing the budget and going the OPC route if you want to reduce your risk, as the warranty seems well worth it from my experience so far, to the extent of covering a failed battery.
 
I currently earn approx. £1.4MM+ before tax.

After HMRC have had their fun, three divorces and very good lawyers (effectively paid for by me in the good times) mean I have enough for a classic Porsche and baked beans a month.

Sometimes I can afford fuel ....

But seriously, there is little between the Carrera and Turbo (assuming you get a PPI AND Porsche warranty on any you choose and don't get a money pit).

The only differences will be servicing, fuel, tyres brakes, and Insurance.

The last four are somewhat down to you, and two different owners with a Turbo and Carrera could easily see the same or overlapping costs for consumables and Insurance.

The servicing and general maintenance will be higher, possibly by a factor of two, realistically, only on the engine aspects.

So budget an extra £1k per year might be a good estimate for scheduled maintenance.

The engine on the Turbo is bullet-proof.

Get a Porsche warranty and it matters not a jot that the work of art in the boot is worth £40k vs the Carrera £10k.

I would argue the residuals were probably slightly better than the Carrera.


To answer your specific point: circa £3k per year would be a good basic budget for just the car bits themselves, so that includes all consumables (no warranty outlay, Insurance, fuel, depreciation, any paintwork you dedide to spruce up, or other "mods" etc included)

This will be an average, so one year you may get away with just a minor service, and the next need pads, tyres and a major etc.(if you were wondering where the two-year servicing went: I would suggest an annual oil change irrespective)

Although possibly generous in estimation, this is for average expected costs though (so you break something not covered by warranty, you pay for it. But that is true of the Carrera too)

On a Carrera, I would also suggest a £2k three-year slush fund for any unforeseens (although this is somewhat dependent on warranty). The Turbo about the same.

I would also expect in most cases to end up with most of that still not spent at the three year mark.

But that is down to your specific car's luck.

Treat the car well and (Carrera or Turbo) they should be the easiest (least grief) sports car you'll ever live with.
 
Re: Looking to buy a 997 Turbo but can I afford it? Advice p

smoggy12345 said:
Maximum I'm willing to spend is roughly £43K which would mean the earliest model 997turbo probs an 06 with ~40K miles.

You might be very pleasantly surprised when you start to look seriously but even at that price they represent fantastic value for money.

GT4 has detailed everything you need to know about potential running costs. I can only add that until the novelty of spooling the Turbos up at every opportunity wears off be prepared to see 12-15 mpg regularly.

ps. :welcome:
 
Re: Looking to buy a 997 Turbo but can I afford it? Advice p

T8 said:
I can only add that until the novelty of spooling the Turbos up at every opportunity wears off be prepared to see 12-15 spg(That's SMILES per gallon) regularly.

ps. :welcome:

Fixed it for you!

And :welcome:
 
Sounds like you've worked out your sums already if you have 'approx £43k' to spend. This sounds rather specific to me!

If you are at all concerned about running costs (and they will probably be minimal for a relatively young porsche) then have you considered a well looked after low mileage 996TT with X50 pack?

Equal performance with a 15k less price tag to spend if anything goes wrong, which doesn't really.

I have one friend in particular who owns a well known Porsche dealership (not OPC) and says that he would take a 996tt over a 997tt as the handling has more feel to it and he struggles to find reasons to justify the extra money on a 997 when people come into his showroom. The only real reason is looks i suppose.

I know what I would buy with 43k and it would be 996 shaped........
 
ragpicker said:
I know what I would buy with 43k and it would be 996 shaped........

You could get six!

360px-Carton_of_eggs.jpg
 
I think you should speak to Jamie at Performance car finance, one of the site sponsors, as your obviously going to finance part of the purchase.

I suspect with some careful advice from Jamie you can probably afford a better car ( more expensive)

You're in danger of buying an older car with increased running cots, maintenance due,
I will confess i'm not a 'turbo person' a Pre purchase inspection is vital as with all 911's and especially turbos, its not what you pay for a car but what you can spend on it in the first 6 /9 months that you need to consider, don't forget the 4 year service where you change the spark plugs is over £500 just for the plug change, also remember that turbos tend to have more owners and how carefully has the car been driven?


Speak to Jamie, consider the finance options he can give you, the cars in the low £50's are a lot better than the cars in the low £40's and a carefully selected car with a Porsche warranty after the 90 day period may be a safer way forward
 
I just can't see why it costs £500 for a plug change!
I did my own and it wasn't too difficult!
What a rip off!
:thumb:
 
Michelin - changing plugs on a turbo is much more involved due to intercoolers getting in the way. More labour basically.
 
Thanks for all the advice and replies!!! Always good to see an active forum!!

Yes I am a fellow boro lad! Where abouts are you from?

The reason i'm after the 997turbo is mainly the styling, speed and 4wd. i have considered a carrera 2s but as this will be my daily driver I would ideally have the 4wd as the snow can be brutal in winter and really cannot be arsed with rear wheel drive! Ever since I've had 4wd in the subaru I've always said I'll try and get 4wd cars, they're a godsend.

Now I know someone is gonna suggest a carrera4s but for a good one your getting in the territory or the turbo in terms of price so would rather spend the extra £££ and get the turbo!!

As for the 996turbo....I'm sorry but i'm just not a fan of the 996 looks and interior. Whilst I can appreciate the performance, for me looks has a lot to do with it as well!! The 997turbo is just one sexy machine haha!!

So....GT4.....you recommend 5K per year as a fund for everything? That is quite a bit higher than I was hoping!! Looks like it's time to do some sums!! All in all if I cant afford it's no big loss....c2s or cayman S would still suit me!!

As for the finance ....what sort of deals are around? I'm currently looking at a loan of 20 to 25K @ 8% ....are the finance deals much better?

Thanks for the welcome and reply lads!

Dean.
 
Yes I am a fellow boro lad! Where abouts are you from?

Living in Redcar now, used to live in town just off Parliament Rd when I was a young rentboy :?: Umm paying rent officer :cop:

Have a word with Liam in Acklam Car Centre, he's always getting 911's in and you can easily cut a deal with him. Tell him what you're after and he'll call you first when one comes in as they are usually snapped up pretty rapid. Its a case of throw you the key and take a test drive so it will give you a good idea what you're getting into.

Ive bought loads of cars from him with no issues with either the service or aftercare.
 

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