(Guest Post by Meg from Cars X Girl)
Hi, my name is Meg and I’m addicted to cars.
No, really, I am. Cars are my passion, and the priority my husband and I share. We talk about them, look at pictures, discuss them and think about them basically 24/7/365. I joke that I basically work just so we can afford more car stuff and it even infiltrates our travel plans when we don’t mean for it to.
So it’s no surprise that I have dreams to own cars like Ferraris and Lamborghinis. That’s a ways away for me yet, though. However, I recently hit a huge milestone in my car journey — I joined the ranks of Porsche owners.
More specifically, I bought a 1984 Porsche 911. At the age of 24. In cash. (That’s her up top)
The how really isn’t that complicated: my husband and I both made it our priority. We started by selling two older project cars, which kick started the savings. My husband, who is active duty Air Force, deployed for four months to help with the savings. Oh, and I’ve also been eating ramen noodles every day for lunch since September… But that I’ve actually come to like, thanks to Sriracha. ;)
It took us almost a year exactly from the sale of the first car (with the intention of buying a 911) to buying the 911, and I was groomed the entire time by our local Porsche Club of America chapter who helped me narrow everything down and test drive different cars so I knew what to look for. And she landed right in the middle of my budget! We paid $23,750 for her. :) Not including taxes, license & registration, or the inspection we had done on her. She’s a 1984 with 111,6XX miles, and we’re the third owners since new. We have complete records for her over the past 30 years including the original purchase documents and shipping papers for when she was shipped to the US from Germany.
It was the most cash we have ever spent on any one thing and it was totally worth it!
After covering insurance for her through a specialty company, the only expenses she adds going forward is gas (not much, since she’s only driven on nice days for events) and the very short list of things to replace like her fan belt ($20 shipped for an OEM belt) and engine compartment padding (~$60). This is why we wanted to pay for her in cash — We own her now, free & clear, and it hasn’t added anything more to our monthly expenses. (We do have one car loan and student loans we are paying off, so I didn’t want another monthly bill.)
And while it may have been a smarter financial move to use the money to pay off debt and then save for the car, I’m much happier this way. Now I can tackle that with a new vigor — You see, continuing to cut back doesn’t bother me as much. I don’t even have to drive my car, I can go out to the garage and get a huge smile just seeing her. I consider this to be a part of money psychology for me…. As well as a case of wanting to do it while I can enjoy her because tomorrow isn’t guaranteed for anyone.
I can already relate to the author of that email J shared the other day on “being lucky and rich,” and not just because of the 911. Our other cars are a 2001 Honda S2000 (owned, and our track car) and a 2008 BMW 335xi (not quite fully ours). As I mentioned, though, they’re our priority. We don’t go out to eat much, our house is sparsely decorated, and we both work with the same end goals in mind. It just so happens that when people see our cars they don’t see all the sacrificing that goes behind them. We aren’t rich, we’re just dedicated. And for our military life, I’d rather have my cars than a house because I can take them with me.
I don’t share all this with you because its impressive or anything (I still don’t see it that way — likely because of the work that went on to get to this point), but because there seems to be hostility towards cars that others perceive as expensive. Honestly, there’s NO way I could afford a brand new Porsche 911, but that didn’t mean I couldn’t afford any 911. I did my research, put in a lot of work, and with a bit of luck came out with a car I couldn’t be happier with.
What are you working hard for right now?
Meg is a car enthusiast and Porschephile who wants to get into track racing & car collecting. She was the 2009 Rookie of the Year in her old SCCA region, has driven a Ferrari 458 Italia on a track & is building her S2000 into a street driven race car. She shares her car life at CarsxGirl.com in an effort to show that some girls play with cars just as well as the guys do. (While still being able to rock heels & a manicure just as well as any girly girl.)
EDITOR’S NOTE: Oddly enough I blogged about what owning a Porsche meant back in August of 2008, and then almost exactly one year later was super tempted to buy one :) I didn’t, unfortunately, but perhaps one day I’ll be joining Meg in her
pen15 Porschephile club too!
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!