I’ve always been a car guy-ish but I need help justifying buying a weekend car as compared to just renting one on turo.
So hear me out, Im at the point financially where I can afford one but just looking at the depreciation insurance costs etc it’s very hard for me to justify.
I already own a daily driver and due to scheduling I would probably only be able drive the “weekend car” one or two weekends a month during the summer months.
For the cars Im looking at, slightly used c63s/rs5/BMWm4 it’s almost impossible to come ahead as opposed to just renting for the weekends that I would be using it.
I know outright owning something has a different feeling but I cannot justify it mentally throwing money away.
Not sure how someone else can help you justify this. You can look at older cars with good maintenance history which already took the major depreciation. You can walk out with minimal damage after selling it. But with the cars you have mentioned it will be difficult.
Nobody knows your financial situation better than you. Depending on who you ask you will get a different answer. Affordability is also subjective. Given your asking the question to strangers and are already doubting if it’s worth it, then I probably wouldn’t do it.
Personally I would stay away from used M/Amg cars out of warranty, they get expensive very quickly and if you aren’t used to spending large amounts of money on maintenance and wear/tear items it can be a bit of sticker shock.
Case in point we had an 04 e55 amg bought brand new, driven maybe 3-4k miles a year, bolt-ons, and the car cost $2-3k per year on non maintenance related expenses after extended warranty ran out.
Basically every trip to the dealer or indy shop is at least $800 to $1000+.
The amount of research you are going to do on finding the right car + learning about all issues with that particular generation is going to be a headache if you’re not a car guy.
Best advice would be to set a budget for a weekend car and then either buy cpo and look for an extended warranty from the manufacturer or just lease the car/pick up a short term transfer.
These high performance cars typically have a lot more wear parts than normal cars, i.e turbo’s, supercharger, transmission maintenance, etc etc
As far as maintenance goes, tires don’t last as long, brake life is less, etc etc
And if you plan on tracking the car set aside a good amount for the track budget, i.e tranny flush, oil change, check tires, check brakes, suspension wear, etc etc.
I mean more in terms of the financial aspects and the freedom of being able to rent any car you want for a weekend driver as opposed to buying a weekend car.
Depends on the person I guess, I would rather pick a car, modify it and take it to the strip or track.
Then once I get tired move onto the next one.
If you aren’t a hardcore car guy and are renting a weekend or two you would probably benefit from renting and moving throughout different vehicles, may cost you a little more but no car payments, no maintenance, and no need for storage. (You will pay more if you track)
And like a few others said only you can justify your budget.
Have you leased any of these brands in the past? If not, and you can afford to, why not look at a short term lease transfer on an M4. It might be the most “affordable” of the bunch.
I’m presently in a similar boat. I bought a Fiat 500e as a daily while I shop for something fun. But, respectfully, it appears that you’re using one side of your brain to help rationalize the other (aka high EQ). BUT, this is a purchase that is designed to be just the opposite.
Yes, be prudent and maximize what you have budgeted. However, there’s a degree of pride you will have in owning yours versus renting one as and when. Doesn’t really matter what you buy, you’ll have a sense of pride in it which is part of the fun.
And I concur, a used 911 is ideal. M4s took a nice beating early one and you find a great car at a reasonable price (circa 2015-2016).
I’ve actually used to own a 2015 m6. Didn’t know about leasehacker back then and it was the biggest money pit. That’s why I’m having a sour taste in my mouth now.
My 2 cents here is that I agree with both ideas of the 911 and the M4 lease transfer
A lease transfer for an m4 is a good idea because BMW covers maintenance 3 years 36k miles so costs here will be little to 0 and you’re not committed long term (you pick how long of a lease on SAL)
