The Porsche line of luxury cars remains one of the most sought-after industry leaders in 2020 because of its continuously stellar release of models and its history of iconic vehicles that have changed the game. That said, each model does come with a hefty price tag that one might have to consider before taking the plunge for. Is a Porsche a good investment for you? Take these factors into account before shelling out for your own.
Do you have a service center in your vicinity?
This is the most important thing to consider if you plan on taking your car for a spin and parading around town with your new luxe ride. After all, breakdowns and issues can crop up here and there, especially if you opt for a used model that might have underlying maintenance problems. Scope your neighborhood or locations you frequent for a good auto repair shop that can service luxury cars like the Porsche so you know they’ll have the parts and the skill.
Do you plan on selling it later down the line?
Any car diminishes in value from the moment it is purchased, but if you’re planning to make your money go around, you’ll want to be mindful about the exact model you’re going to buy. This is because different types of model have different rates of depreciation on the market. A model that might have seen a pricier launch may be worth less than an initially lesser-priced model if the latter has better staying power on the market, so it’s best to calculate this beforehand.
What terrain do you usually drive on?
This goes without saying, but if you really care about maintaining your luxury vehicle both in terms of performance and aesthetics, you’re going to want to avoid going out on dusty tracks and rocky roads. If you find that most of your travel time does end up in that kind of land, it might be best to skip out on this type of car unless you’re only getting it to store and bring to car shows.
Are you going to drive it out often or keep it as a collectible?
When considering the price you shell out, it’s really more of an expense. So, it comes down to what your own personal priorities are and what you plan on doing with your car. This can help you sift through the different models there are to pick from.
If you’re collecting, there’s obviously more leeway as to what you want to spend on. For driving, many publications and enthusiasts will tell you that you can’t go wrong with a Porsche 911, which packs both visuals and performance.
Are you purchasing this to accumulate assets?
If your main goal is to have lots of property assets that can add to the financial value of your estate, then it may be a clear ‘no’ in terms of luxury car shopping. Because of their tendency to depreciate over time, luxury vehicles aren’t the go-to investment choice if you’re trying to maintain assets.
This guide should give you a good idea about buying a Porsche, and whether or not it’s the investment you’re looking for.