You Should Buy a Porsche 911 Because It Saves You Money
- Porsche 911 ownership may not be as coslty as you think
- The ups and downs of gambling with the auto market
- Can you own a 911 “for free?”
Generally, Porsche ownership is not what you’d think of when it comes to pinching pennies. Usually, that involves sitting down to a spreadsheet and crying (at least in my case). However, buying a Porsche 911 as a sports car may just be the most financially sound way to have a little bit of automotive fun after all those tears over the spreadsheet. Depreciation can be a tough pill to swallow when it comes to enjoying your hobby, but 911s can help.
Porsche 911 models hold their value
According to a recent study by iSeeCars, the 911 is among the top three vehicles with the lowest rate of depreciation. In layman’s terms, that’s how quickly a car loses value over the years. Go look up a ten-year-old Bentley Continental if you need an example. In fact, the only two cars that beat out the Porsche 911 are massively popular Jeep Wrangler models. Plus, those Jeeps sell in greater numbers than the 911, making all this doubly impressive.
Moreover, this isn’t even the first time the Porsche 911 has managed this. In another iSeeCars study, the 911 was found to hold its value incredibly well. Now, part of that is down to owners. A lot of these models are, at the end of the day, expensive. They don’t get driven much, and owners covet them for their entire lives. That leads to a very healthy used market free of depreciation.
Is a 911 a good investment?
Now, on the surface, that may sound like going out and buying the first Porsche 911 you see is a safe investment strategy. However, unlike other conventional investment strategies, the auto market also operates on cost of ownership. If you’ve got a 911, odds are you’ll want to drive it. Odds are, it’ll need maintenance, like the infamous IMS bearing in 996 models. If you keep those things in mind, you may just be able to make out with some cash in hand.
So, is the Porsche 911 a solid investment strategy? Unless you’re buying an extremely rare or high-dollar car like a RUF Yellowbird, then no. But, there are a few cases where you can own a 911 for nothing more than the cost of maintenance. The 996 (sans IMS bearing) is a great example. Models have held their value, and you likely won’t lose money on one in depreciation. If you must invest in a cheaper Porsche, the 996 911 is the way to do it.
Don’t put all your eggs in one basket
The current market is a great example. Owners of 996 models who bought a few years back are now able to sell into a market that’s at its peak. If you happen to make money, good. Buy that Porsche 911, and be happy if you make some cash. But don’t be surprised if you end up in the hole a little (or a lot). The important thing is that you enjoy and drive the car above all else.