There I was, just minding my own business, when out of the blue I got a call from my Porsche salesman that I bought a GT3 from way back in the 997 days.
He proceeded to tell me that his dealership has received a bonus
GT3 allocation, and that it's mine if I want it. I am beside myself–the 992 GT3 is my grail car, and as most of you are aware, getting a GT3 allocation right now is the same as winning the lottery. I am going to need you guys' help to figure out what the hell I am going to do now. I think you are the perfect group of people to consult because you can imagine being in my shoes...
I had seconds to decide. If I said
"hmm, I'll have to get back to you", then he would have just moved on to the next guy and the allocation would be gone. I did the only thing I could–I gave him my credit card to put $5K down and secured it.
At this point you may be thinking
"yeah, so what? just roll with it," but let me mentally vomit my rambling thoughts out to hopefully help put into perspective why I am freaking out over this situation:
1). I am not entirely sure that the GT car frenzy market still has life left in it. I have seen a whole lot of cars that have less than 2-3 thousand miles and have had 4 owners up for sale at obscene prices and they are not moving. If any of you are into watches, you may have noticed the same thing is happening in the Rolex market–there are dozens of brand new watches for sale at 2-3x MSRP and nobody's buying.
That being said, the dealership wants $60K ADM on this car! That means a $220K car just became a nearly $300K car. Also, if the market softens (or worse, crashes) between now and when I am locked in, then I am instantly under water as soon as they hand me the keys. They outright refused to make an agreement with me to lower the markup if the market went to hell between now and then. Thankfully, I have a few months before my deposit is locked in. It's refundable for now.
2). I am not a millionaire (yet
), and I will have to finance much of it. That means that I am probably going to get somewhere around a 7% loan, which is not what I would call a brilliant financial decision.
However, I have always been in the
YOLO school of thought, and think that it makes more sense to enjoy life in the moment instead of always worrying about some future point in time that you may not even live to see...
3). I am happy with the M4 Comp xDrive. It only has 1500 miles on it, and I am guessing I would either have to sell it private party or get slaughtered on a trade in. This could result in a $10-20K loss on the deal in addition to that ridiculous ADM. I cannot afford both cars, nor do I have room in the garage for both of them.
4). The 992 could be one of the last generations of real petrol head purist cars. The salesman told me that both the GTS and the Turbo are going hybrid next year
. On the flip side of that coin, Porsche could come out with an even better car in the next couple years and prices may have returned to normal, especially if we have a recession/depression in the near future (which unfortunately I believe is inevitable).
I could keep going and going, but I'm sure it wouldn't be useful and by now you see what's happening inside my head. It's going a trillion miles per hour in every direction.
Just tell me: what would YOU do:
- Buy your grail car that you can technically afford but probably shouldn't buy, keep it for 10 years and hope that Porsches continue their trend of maintaining or even gaining value over time
OR
- Pass on a GT3 allocation and possibly never get the opportunity to build one again in this life–and regret it forever
I think these are the only two options (?)
Thanks for reading, and also thank you in advance for any insights, advice, feedback, etc.