Life is short, if you love cars and this one puts a huge smile on your face it’s worth it. We live in a sometimes very challenging world and in the end, when money does not matter did you get lots of smiles? Not everything has to make financial sense. My personal view 😁. Thanks for making the video.
Yasee, I'd challenge that a bit. People need to be careful with their dreams and ensure they don't become true nightmares. We sacrifice a lot to barrel down the road in metal boxes. True, it can feel fun, on the right day. However, driving these cars can also feel fairly akin to a gambling habit, where we are spending money to fuel what is ostensibly quite an unhealthy addiction. Having seen absolutely everything it is possible to see driving both Porsche and Ferrari for the last 12 or so years, it often occurs to me how risky this game can be. I think my advice to anyone would be either: have double the money you think you might need (ie be able to basically buy the car you're buying twice - this may be a godsend if the worst happens) or really think about investing in main dealer warranties, especially for PDK, engine failures, Ferrari 458 (gearbox issues) McLarens etc etc. Make sure you have your own back with this hobby. Don't let it be an addiction that ruins you. I really think more needs to be said publicly via places like TH-cam about the darker side and dangers of this thing we do.
Thanks for your thoughts, I assume that most people are intelligent enough to not get themselves into difficulty and undertake the required checks and research.
Thanks for the video. I have a 2016 981 Cayman S with PDK and Sport Chrono. My feeling is that these will go down in value very little as they are the last of the naturally aspirated (Non-GT4, Non-GTS 4.0) flat sixes. Once a Porsche hits 3 years in age, the depreciation is very little after that, unless you drive a lot of miles. The engine is amazing, it races to redline and provides a sonic symphony when you step on the gas. I love this car and the handling and the overall driving experience is sublime. I got mine from a Porsche Dealer in April of 2019 with one year of the factory warranty and 2 years of the certified pre-owned warranty for 3 years total bumper to bumper warranty. Well worth it if you can find one from a dealer. I used the Porsche Website - Pre-Owned locator to find mine. Maintenance is expensive, just be prepared for it and it won't be a surprise. Also, there are so many local Facebook Porsche Groups so that you can go on drives or Cars and Coffee on the weekends. Life is short, enjoy it! Get a Porsche, you will wish that you had done it sooner.
Most people aren't calculating depreciation into the cost of ownership. They're mainly thinking about general maintenance and any unexpected service. Depreciation is heavy on any car, but it seems like Porsches hold value better than normal cars. Some Porsches even appreciate in value over time!
@@dmark2639 The 981 Cayman S have always been above 30k and will stay there for the foreseeable future as the previous gen are still strong in the high 20s 30s
Unfortunately it’s worth buying these Porsches near retirement because your best asset is your youth and working extra hard to purchase More assets, I intend to buy enough properties to afford a Porsche without blinking. We got to do what’s right
Good video thanks for sharing. I have the exact Cayman S spec and colour as your car with the addition of sports exhaust. I extended the Porsche Warranty and glad I did with a PASM failure which I was told would have cost £3k to fix. A sobering video but I'm sure worth every penny to drive one of the best cars on the road! Keep up the videos!
I've owned 6 Porsche 911s, 2 Mercs, 3 BMWs, 1 Aston Martin and 1 Porsche Cayman S 981 and without doubt, the best of the lot is my Cayman S. No problems at all, cheap to run and having now owned it for 7 years, I cannot bring myself to part with it. Don't pay too much attention to this guy, your engine will not go pop! Brilliant cars, super reliable and great fun to drive. Get one before we all drive at 20 MPH everywhere!
You hit the nail on the head! My comment to this guy is to pretty much stop being a baby about it because he sounds like a broke bugger. So here’s my comment lads, if you really want the car, and you want to enjoy it, it’s gonna cost you, but the enjoyment is priceless. Only by the car if it doesn’t interfere or put you in a bad financially.
Very informative video, really helps as I’m looking for a 981 GTS. To be honest, I wouldn’t bother looking at the numbers, as long as you’re enjoying the car it shouldn’t matter. I’m sure my M2 works out roughly the same if not more but it’s smiles per miles that count! 🙂
Thanks for the vid. I currently have my eyes on a Cayman, but with this info, I think I'll wait until I finish paying off my daily driver. I've only got a few months left on it.
Hello, Interesting video. I own a 981 Boxster S. I bought it new eight years ago. I agree with you about depreciation, around £6k per year. Servicing cost average around £700 every 2 years (20k service £600 and 40k service @ £800). This is my only car, so I use it every day I need to go out. Tyres last about 15 to 17k miles and cost @ £800 a set. Insurance for me (over 50) is @ £600 through Porsche. Most of my journeys are over 100+ miles and I get @ 30+/gallen easily. I have done 83k miles in my car and still get a buzz when I drive it. The build quality is outstanding. It has failed one MOT, the front lower suspension ball joint (cost @ £500 fitted). Normally, I would change my car after 5 years but, I enjoy this one and have no desire to change it. All I have said here is my experience with my car, others may have different experiences. In my opinion it is a great every day car and worth the money.
It's great that you've had a high smile/mile ratio ;-) Once the car is paid off, and without the expensive warranty, your monthly costs will be much lower. If you can, plan on doing some DIY, including oil and filter changes, brake pads and rotors, etc. There are plenty of videos explaining these jobs, you'll save a lot, and also have the satisfaction of engaging with your car in a different way. Also find a reputable indie shop for bigger maintenance jobs (e.g. coolant and brake fluid flushes), instead of paying a premium at a Porsche dealership. Thanks for the video, and I hope you can enjoy some driving even with the current lock-down.
Yeh smiles per pound are definitely there so it’s fine haha. Agreed, also depreciation is always the worst in the first couple of years along with interest on the finance. Would still like to keep the Porsche stamp in the book but agreed thinks like brakes can be done elsewhere. Thanks for watching Simon! Any ideas on other videos you’d be interested in whilst we are in lockdown?
Cracking video mate. Was seriously looking at the cayman, kind of knowing it would be expensive to run. However, I’m now going to look at something much newer (hot hatch) 25-30 k. Civic type r, megane trophy 300 etc etc.
I bought my 981 Cayman S last month and I absolutely love the car. It's a brilliant machine and I just want to drive it everywhere. This lockdown cannot end soon enough so that I can put some more miles on it 😅
Those figures are completely in line with any premium/fast car (inc BMW/Audi/Merc etc). As always finance is the biggest cost and the only way to get around that is to save and buy the car outright or perhaps take out a small loan that covers the depreciation of the car over the period you intend to keep it (3-4 years?). For any premium car (especially one that’s over 4-5 years old) you should always budget £1-1.5k for servicing/maintenance and I agree you insurance is cheap given your no claims.
Beautiful car mate it’s a heart decision not a head decision. Be good to see a new video to see how things have changed with a revised value of your car. I suspect it’s worth the same if not more now?
Great video, thanks for sharing this information. Your costs are around £33 per day all in which is a lot of money. I know it may not be possible for everyone but I would pay the amount outright (or not buy at all if I am unable to do that). Also, I have learnt (the hard way) over the years that warranties really are a waste of money from a cost, logistical claims and "likelihood of needing it" perspective. I would continue to have the car serviced from the main dealer to get the official stamps (especially for a nice car like this) BUT get a Porsche specialist to carry out any actual repair work at half the price should you need this (I've been doing this on my Merc and saving a fortune).
Hi, just bought a 981 s 2013. Don’t think I’ll do the warranty. Assume you have had no issues with the active suspension mounts assuming you have sports chrono,
I’ve owned a B5 RS4 for 15 years and covered 210k miles in that time !! I’m to scared to work out how much it’s cost me ! Lovely car I’m hoping to replace my B5 for a Cayman 981
That was very interesting. Though i dont think its realistic numbers since you had huge deposit, so monthly payments were very very low. For such big deposit i think it should be considered that you had that money from credit also and so add to the month ly payments this credit premiums
Thanks for the nice video.. However it is my opinion that you can't include depreciation and finance payments to calculate the cost of ownership as depreciation is a standard logic for any car and the way of purchase really depends on each person ( As is insurance as well ) . The important thing to take into consideration and to get out of this video is the actual running costs, standard maintenance and any issues which I am glad to see you had none!
Hope you benefit from the increase in used car prices and that your depreciation isn’t that high. It’s a dramatic price increase here in the US. Anyway, greetings from another 981 lover!
Thank you! Hmmm tough one, the S does seem to fetch quite a lot more, the 2.7 is a great engine we had a Boxster 981 2.7 it just lacks the torque of the S, I’d actually say the 2.7 is smoother though. I personally think it’s worth the extra but if a good deal comes along for a 2.7 don’t turn it down 😃
With your experience, would you recommend the Cayman or the Boxster? It appears that one gets the best of both worlds with the Boxster, but perhaps I’m not seeing the advantage of a Cayman?
This inspired me to calculate what I've spend on my M2 since buying it new 24 months / 20k miles ago... now i regret it. Interestingly only 100ish more, works out at £1,085 a month.
I've had my '14 Cayman S for 8 months and raised mileage from 56k to 62k. I've put new tires on a bit early, Michelin PS4S, because I didn't like the stock F1's. I also bought a set of 18" Cayman wheels with Winter tires. I did the oil change myself and will do the serpentine belt myself, as well. Tires are more expensive than average, because of their size. The engine takes more oil than average, roughly 8 quarts, which adds to the cost of a change. My car isn't eligible for an extended warranty, so no costs there ...unless I need one. Doing standard maintenance myself, I don't find it radically more expensive to own than my previous WRX's. Should I have major motor or transmission problems, that all changes dramatically. As it is though, the smiles per dollar ratio is quite favorable.
As they get older it’s more acceptable to do your own maintenance which really helps, the big cost for me is the depreciation but that gets better the longer you keep it. Enjoy, they are great cars! 😃
Nailed it. I've had my 14 S (looks just like the car in this video) just crossed 100,000 miles (daily driving, road trips, and several tracks days and rallies) and its pretty painless. Porsche maintenance tax is a real thing, but I do ALL my own work. The one annoyance is clearing the computer after oil changes, but i have a friend that works for Porsche that will reset it for me.
Good vid, I bought my Cayman S (981) last year, owned it for about 11.5 months now... I've only put about 5k miles on it. it is my daily but I did live in London...moved up North now so can't wait for lockdown to be over so can drive it more on country roads!
I think there’s a flaw in the calculation that you made regarding the finance cost and depreciation. You accounted for it twice. The cost of finance is just your interest payments. The other portion of your payment goes into your asset. Meaning after you deduct depreciation you basically increased your stake in the asset (your car). Hence if you wanna calculate cost of ownership only consider cost of capital (interest rate) and depreciation of your asset. Sure the rest of your monthly payment is liquidity leaving your account but it is just transfered into ownership of your physical asset. Saying that I own a base Cayman 981 and a BMW F30 daily. Factoring in that the 981’s depreciation is way less than the F30’s, insurance is cheaper and road tax is similar (the F30 being a Diesel which is taxed higher in my country), the 981 ends up actually being cheaper to run than the BMW. And depreciation is the key factor here. I bought both cars used and got a good deal on the 981 about two years ago. Looking at prices at the used market right now for a manual transmission base Cayman, the prices actually seem to have appreciated since then.
981 is a very reliable car I’ve owned it for 2 years now with zero issues but Porsche dealerships in US will want $800 for an oil change it’s the best car for the money especially if you’re buying a preowned but try to do most of the maintenance yourself thx for sharing your experience
@@dw4525 that's my reaction too needless to say it won't happen again I can do it myself for less than $200 many Porsche enthusiasts do the maintenance themselves so that will be my route going forward kinda like a car restoration project on the weekends I still have my truck so no rush on the maintenance
Nice one mate, don’t beat yourself up to much, whatever car you buy it’s going to cost on finance unless you have cash to pay for it so why not get a mint car like you have. Cool car mate we’ll worth the money
I have the same car and similar spec. Any sports car whether new or leased is going to cost you similar but I agree the best is buying second hand, if you have the capital. Your costs are actually lower than mine, as Ive just shelled out £1,900 after a service, plus add on tracker, insurance, paint repair, tires etc. The Porsche's running costs are pretty low when compared to other cars so they're good value for money, the question is how much do you want to drive one?
I bought my 981 Cayman S brand new in the US and my first 4 year of ownership is about $500 in total maintainence which consists of oil changes only and about $700/yr for insurance. I put about 20K miles and gas is about $3,000. Would be about $2,000 if you’re outside of California. So far no repairs and recall. Maintenance is very low when you buy new, but starting on the 5th year after warranty is out, it starts to get expensive. Seems like UK’s petrol is expensive compared to US, but tires and insurance is cheaper than the US.
The "losing 6,000 of your deposit" is a BS way of looking at it. WHEN and HOW you pay for whatever costs accompany the car (including depn), has nothing to do with calculating WHAT it costs. Your depreciation costs are your 36,000-ish, less the 27,500 that you could get now. What if you deposit had been zero? Or 20,000? Why should that change what it costs you? Yes, you may be in a negative equity or cashflow situation, but that is still only a timing issue.
Did you consider 'Lease Purchasing' with a third-party broker? You mention the tax is £500. Presumably that's for the 20 months ownership? Isn't it £325 per year?
Hey, i've noticed you are selling your car on auto trader. Any reason why so quick. I currently have 2015 Audi TT Quattro and thinking to replace to Porsche Cayman S. Now i'm confused. Any advise? should I?
Hi Tomas, looking at selling the car to fund a little business venture, would love to keep and it as it would probably be much more cost effective for the next couple of years too, wil be sad to see it go, definitely buy one!
Nutts On Cars maybe things are different in the UK but in all my years of buying many, many cars in the US, I’ve never paid an APR over 5%. The one car we have right now that is not yet paid off is a 2017 Macan S and the APR for that vehicle is 3.2%.
@@thedudeabides1443 I got 6.9% too, interest rates on finance are pretty high in the UK compared to the US it seems. Of course the difference in finance is nowhere near as much as the difference in fuel cost though! Edit: Not sure how relevant this is but I got mine on CS (conditional sale) rather than PCP so it's a simple loan, I have monthly repayments with no lump sum at any point.
@@thedudeabides1443 long credit history of buying nice cars. Probably started with your parents adding you onto some of their credit. Then you picking up where they left off. Building credit from scratch and your first car apr will not be any less than 7% without a co-signer or being added as someone's authorized user.
@@calebcooper2060 I built credit from scratch in the US. No co-signers. I've been building credit history for just 6 years too. I recently got a 2014 Cayman S with 2.99% APR.
Very good video! I have the cash at hand and was wondering if I should buy it cash or finance it, seems like financing might be better off I guess.. If you had the full money upfront would you have bought it then?
I think you left out the cost of gas, or I guess I should say petrol. I have a different angle on depreciation. While the resale value of your car goes down, there is also the value added savings over buying a newer replacement at appreciated costs. But I guess eventually you have to replace so perhaps I'm wrong in that.
I wish my insurance was only 650 quid a year. Here in Florida it costs me about 650 quid a month! Here in the States it's more like a Traders insurance policy where anyone can drive one of my 4 cars. When my son was on the policy, and at the time he was under 21, it was double what it is now...
At 24K miles my 981developed a cracked cylinder casing that trashed the engine.....Dealership told me they had never seen that problem before, one never knows if they are truthful or not but I haven't seen that problem illustrated online so far........Fortunately it was 4 months before the end of the warranty and Porsche USA replaced the engine......With labor costs it totaled 30K....I had purchased the 2016 version for 48K (gotta love the initial depreciation) with 14K miles in 2018 so thats not a repair to take lightly.....Besides that I have had only one other issue...My mechanic told me the previous owner didn't run the car hard enough and used cheap gas so spark plugs had to be replaced at around 18K miles....Brake pads are in my future and I rotate to winter tires for 6 months of the year so my tire consumption is extended.....Given this is my daily drive high octane fuel obviously adds up but the normal bills just are not that significant....This appears to be a very well built car....Repairs/maintenance is frankly less than my prior 2002 BMW 330CI.....Financing costs are what they are so I paid it off in a year to minimize the interest....This is a GREAT fun car that sounds amazing that with care I can own for 10+ years.....Long term ownership is a bit different viewpoint as you begin at some point to factor in the replacement cost in your yearly ownership, so after 5-6 years spending 3-5K in maintenance a year is cheap compared to 700-800+/mo payments.....I don't care about all of the new electronic crap, I just want a raw car that handles fantastic...The 981 is just that.
Blymey that was a catastrophic issue, like you say I haven’t heard of that before. Couldn’t agree more, the 981 is one of a best packages on sale nothing else tempts me out of it!
I have the same car. It has cost me HALF of what it has cost you, over 20 months. I've had coils replaced, air bag control unit, some switches. 2 Services (one was due when i bought the car and another one was done now).
I bought mine straight form a dealership, didn't need to do any 10 point check, I also got a free year warranty and on top of that I recently paid for another year warranty.
I am in love with Porsche, but i could not reconcile their poor reliability, high maintenance costs, and dealer fees. I drive a 2015 RCF that cost me half, and the overall maintenance experience is great. Nice V8 with Borla. Do I think the Cayman or 997 looks better? Yes. Love their smooth lines.
I dont think you should have included the finacne costs if im honest. It skews the actual running costs of the vehicle. Theres lots of different ways to buy a car, only really interested in the running costs of the car.
As a Miata owner I agree. Do it. Or buy an old C6Z. It’s like giving your Miata a medley of growth hormones, peptides and steroids. Hard to fit in a parking space but slays most porches on the track. Weighs 3,000lbs and is heads and cam away from 600 whp. They are low 30’s now. Just a thought.
My dad has an '08 Miata, which I've driven a fair bit and autocrossed once. It's a great little car, but there's really no comparison. The capabilities, the composure, and the comfort are all radically superior in a Cayman. Not just speed, either. The Cayman can do proper GT and errand work, which is a good deal more of stretch in a Miata for reasons of comfort and luggage capacity.
Wouldn't it be better to calculate it per distance instead? 20k miles and you've paid £20k~, that evens out to £1 per mile, which isn't too bad, considering that's including everything, maintenance, fuel, tax, insurance.. I'd say it's pretty good? :)
Are you (partially) double counting when you have finance payments of £6,000 and depreciation of £6,000? How much deposit did you put in? And how much equity did you have when you sold it? You should not count all the depreciation if the finance payments were already covering part of that. Example (a real one). I bought a 991 back in 2012. Paid £72k for it. Put £16k deposit down and financed the rest. Sold it 40 months later for £52k, i.e. it had depreciated by £20k. However, when I settled the finance, I had £12k of equity left to put towards my next car. So the total cost to me was 40 x £700 per month plus £4k/40, i.e. £800/m. NOT £700/m plus £20k/40 = £1,200/m
Depreciation vs Enjoyment. Breaking it down it’s cost you just 3 pence per mile which isn’t too bad at all considering the amount of fun. A £6000 loss for your time of ownership so far and the 20,000 miles is pretty reasonable. I’m certain you won’t look back and wish you’d driven it less and let’s face it, just how much enjoyment is a car that lives it’s life in a garage🤔! Non!!
He bought it on PCP finance which means the car is a rental for 30 months and comes with an option to pay a lump sum at the end of the loan term to own the car outright. PCP typically only covers the car’s depreciation, if you decide to not make the final payment, you just return the car to dealer and it’s money down the drain.
That's honestly not a lot for a sports car, which is good because I bought one on Saturday! I'm averaging 36mpg so far but I've had 2 motorway trips which it got 45+ on, plus a 3 hour blast which it didn't get 45+ on... I'm 32 with loads of no claims so my insurance is half as much. I've also forked out for a warranty but not the Porsche one so it's only £600 which was to extend a standard 6 months out to a year so £100 a month. Having only done about 300 miles so far I can't comment on reliability of course, but it hasn't broken yet! For comparison, I just sold a Lexus GS450h. That's a hybrid although with a bigger engine and more power than the 981 (3.5L, same engine as an Evora but strapped to a 200hp electric motor for maximum rear tyre destruction) and was more expensive when new (£57k vs £52k for the exact cars). That car was cheaper on tyres (18/235s all round), averaged about 38mpg on fuel with my spirited driving style, although at low speeds it went electric for 4-5 miles so that's a big difference. Other costs were similar to the Porsche. I bought the GS at £20k and it lost about £5k in 20 months plus another £4k just due to the difference in buying from a dealer vs what I can sell back to them for- needed a quick sale for the Porsche so didn't go private. I looked at an M6 as well, which would have been ruinous to own. Also felt like a huge downgrade from the GS in everything but power, especially luxury, handling and sound. Also decided against an XKR and E63 because they both felt just like a more powerful, much less efficient GS with a far worse interior. Ended up deciding to ignore luxury and go for the epic handling and sound of the 981CS, but also of all the cars I was looking at it was the sensible option with good luggage space and reasonable running costs. One interesting side note- the GS infotainment gets a lot of complaints but it's so much easier to use when driving than the Porsche or that M6. Worse when parked but if I want to sit still I wouldn't be in a car!
@@nuttsoncars2710 I had the same model and year as your good self, with similar costs I may add. No major problems within the first year, then out of the blue came the electrical gremlins!! Warning lights started showing up intermittently on the dash, eg power steering loss, and transmission failure, but with no indication that this was affecting the running of the car.. Then as suddenly as they popped up, they disappeared without trace. This occurred maybe a couple of times a week, for a number of weeks, as this was my daily. The OPC ran a diagnostic check, and found no faults! and yes, no warning lights made a show!! lol. That particular visit cost me the thick end of £180... In the end, I purchased my own diagnostic tool, alas from a dodgy seller/dealer on the internet, whereby the tool was a piece of junk!!! Soon after, the warning lights stopped coming on all together, but by then I lost faith in the car.. Part ex'd it for an Audi, so now I'm well happy fella
I bought a Cayman new back in 2016 that cost (including 100% inport tax) close to 100,000 quid and by the time I traded it back to Porsche, I only got half of it back. The service cost in general were similar to yours and I had two wheel changes too. Insurance was close to 1600 quid per year and fuel just costs a bit more than good old blighty. Thank god I didn't daily it as traffic sucks in the opposite side of the world. Averaged like 4000 km per year but never thought of the costs as it was just goddamn fun to drive.
Wow you thought it was worth 27.5 in this video. They have gone up probably over 20% now as I just cannot find anything under 30 and nothing with your spec for much more.
@@nuttsoncars2710 haha, yea, i guess it makes for a more accurate 'cost of ownership' to take into account selling or current cost. I'm sure it takes a little maths when on PCP.
If you ignore the finance, actually quite reasonable. Taking finance on any car will always be a money drain irrespecitive the price of the car or the interest rate - the cold hard maths is that your paying interest on something that is loosing value - its a compounded double loss.
This is a shocking waste of money, i service my cayman at a local garage who does a good job for 200-300£, bought mine for £16k and dont spend anywhere near what u do.
That's decent. My dad does mechanic work as a hobby so I'd only have to pay for parts if he does it. Are these cars mechanic friendly? Which I mean you don't need no special tool or such to get access to the engine of these cars?
I put a warranty on my 981CS too- I even put one on my previous car which was a Lexus and that obviously didn't break (not even a wiper or bulb, let alone any faults). The thing is though, if the gearbox had gone in the Lexus it would have cost me £5k (GS450h...crazy car). The 981 is also expensive if something goes wrong. If you're spending £30k+ on a car, an extra 4% to remove any realistic chance of a big payout to fix it is easily worth it. In my case I got both warranties at £600 too, so only 2%. It's mostly psychological, but I can push the car a bit without worrying if anything will snap.
Pcp yeah. Well since I bought it it’s gone up I’m value apparently. I would assume I’d have positive equity left at the end of the agreement but you never know
That's great. I really love the 981s. Having just started my career I might not be enough at the moment to afford one but wouldn't mind putting a big deposit down on one on hp and paying that off whilst I save for a property
A decent review of your motoring... Did you enjoy it? Was it worth it? If you have a decent house then buy a 8 year old or so, 2nd car (bmw, vw audi etc). Always use this one for crappy journeys (to the shops, when it is bad weather, heavy traffic etc...)... Then get the Cayman out for good journeys (weekend sportive, trip to Europe etc)... Then every mile you do in the Cayman is a special one.. Next, no more of this PCP crap.. Save up and buy your car (or at least 50% of the cost).. Then budget 5% of car value/year for maintenance/repairs etc... Any savings you can roll over for the next car.. Also I see most porsche owners of older vehicles do some basic maintenance themselves... Hope you have many more great motoring moments..
I dont really think you should count depreciation. I wouldnt buy a car for 100k, sell it for 50k, and tell people the car cost me 150k. I'm looking to buy a cayman with cash. So if i take out monthly payments and depreciation, i should expect to pay 8000 quids, or about 10,000 USD over the course of 20 months.
If you bought a car for £100k and sell for £50k that’s cost you £50k not £150k? I just thought it was worth including the depreciation costs as you can’t hide from it and some and are a better investment than others. James
just sooooo expensive.......I have the Porsche Mecan turbo which has an average service of £2,000 every 20,000 miles and the wife a Mecan diesel aith average servicing of £1,100 ..........love them but if mine wasn't a company car id never pay the money....
where do you get the figure of 5 or £600 per month on any nice car ? - I'm trying not to be too critical, but you know what they say 'a fool and his money......' - ive owned 2 911's and numerous other high spec'd cars and NEVER EVER spent the money you are talking about
Grove and Dean brokers insure my 2016 981 2.7 for £320 Fully comp and that is without any no claims bonus at all. I am 61 and limit my milage to 4000 miles per annum, car garaged overnight.
@@russelllutwyche5736 Age will be a huge factor in that, as will your address. No claims can make a big difference too of course: ignoring all the optional extras I chose, my insurance would be £348 fully comp and I'm 32 but that's with 11 years no claims in an area which isn't especially cheap. At my old address it would have been under £300. I knocked about £70 off the premium by adding my 67 year old Dad as a named driver though. I'm not letting him drive the car any time soon of course!
could i just say i have had a few porsches. You need to service them yourself like i do and fill the book in and keep receipts. The serpntine belt is £25 and takes max 1hr. learn,,stop being ripped off, And £1200 for a warranty, thats a a lot of money for a car that shouldnt go that wrong. They re not expensive if you do it yourself. They are difficult to work on but not impossible if you learn how. I have had my 981 for 20 months and done the air conditoning condensers.. These all fail on all porsches. (What you see thru the grill at the front,,radiator) i bought two for £120 and gased it at kwik fit for £30. 2 new rear tyres, ebay £300 + 20 fitting. and service...oil £72 as you need 7.5 litres and a filter £27.... dont say you cant do it,,,you can..
Agreed this would definitely save a huge amount, I’ve now stopped the warranty so anything that goes wrong we will probably fix ourselves, I still want to take it to Porsche for it’s every other year service though just for the stamp in the book. James
So what is the subjective monetary value of that smile on your face, looks you get from others and the “bling” effect? Is that worth it, and if yes, then you have a bargain!
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Life is short, if you love cars and this one puts a huge smile on your face it’s worth it. We live in a sometimes very challenging world and in the end, when money does not matter did you get lots of smiles? Not everything has to make financial sense. My personal view 😁. Thanks for making the video.
Geez, Barrie - you stole my line!
Yasee, I'd challenge that a bit. People need to be careful with their dreams and ensure they don't become true nightmares. We sacrifice a lot to barrel down the road in metal boxes. True, it can feel fun, on the right day. However, driving these cars can also feel fairly akin to a gambling habit, where we are spending money to fuel what is ostensibly quite an unhealthy addiction. Having seen absolutely everything it is possible to see driving both Porsche and Ferrari for the last 12 or so years, it often occurs to me how risky this game can be. I think my advice to anyone would be either: have double the money you think you might need (ie be able to basically buy the car you're buying twice - this may be a godsend if the worst happens) or really think about investing in main dealer warranties, especially for PDK, engine failures, Ferrari 458 (gearbox issues) McLarens etc etc. Make sure you have your own back with this hobby. Don't let it be an addiction that ruins you. I really think more needs to be said publicly via places like TH-cam about the darker side and dangers of this thing we do.
Thanks for your thoughts, I assume that most people are intelligent enough to not get themselves into difficulty and undertake the required checks and research.
Thanks for the video. I have a 2016 981 Cayman S with PDK and Sport Chrono. My feeling is that these will go down in value very little as they are the last of the naturally aspirated (Non-GT4, Non-GTS 4.0) flat sixes. Once a Porsche hits 3 years in age, the depreciation is very little after that, unless you drive a lot of miles. The engine is amazing, it races to redline and provides a sonic symphony when you step on the gas. I love this car and the handling and the overall driving experience is sublime. I got mine from a Porsche Dealer in April of 2019 with one year of the factory warranty and 2 years of the certified pre-owned warranty for 3 years total bumper to bumper warranty. Well worth it if you can find one from a dealer. I used the Porsche Website - Pre-Owned locator to find mine. Maintenance is expensive, just be prepared for it and it won't be a surprise. Also, there are so many local Facebook Porsche Groups so that you can go on drives or Cars and Coffee on the weekends. Life is short, enjoy it! Get a Porsche, you will wish that you had done it sooner.
I feel the same way about my 2020 6 speed Corolla L ....but then I'm an old geezer.
Most people aren't calculating depreciation into the cost of ownership. They're mainly thinking about general maintenance and any unexpected service. Depreciation is heavy on any car, but it seems like Porsches hold value better than normal cars. Some Porsches even appreciate in value over time!
@@dmark2639 The 981 Cayman S have always been above 30k and will stay there for the foreseeable future as the previous gen are still strong in the high 20s 30s
Unfortunately it’s worth buying these Porsches near retirement because your best asset is your youth and working extra hard to purchase More assets, I intend to buy enough properties to afford a Porsche without blinking. We got to do what’s right
honest, short, excellent video. Finally somebody not talking for 30min and avoiding to talk about the video topic. thanks
The costs are in line with any premium car (lower than many). The only difference is this car will put a smile on your face!
Good video thanks for sharing. I have the exact Cayman S spec and colour as your car with the addition of sports exhaust. I extended the Porsche Warranty and glad I did with a PASM failure which I was told would have cost £3k to fix. A sobering video but I'm sure worth every penny to drive one of the best cars on the road! Keep up the videos!
I am looking for a 981 Cayman at the moment and this video is really informative, thanks!
Glad to be of assistance!
same here except here the boxter is much cheaper.
I've owned 6 Porsche 911s, 2 Mercs, 3 BMWs, 1 Aston Martin and 1 Porsche Cayman S 981 and without doubt, the best of the lot is my Cayman S. No problems at all, cheap to run and having now owned it for 7 years, I cannot bring myself to part with it. Don't pay too much attention to this guy, your engine will not go pop! Brilliant cars, super reliable and great fun to drive. Get one before we all drive at 20 MPH everywhere!
Again, a very informative video. Especially since this is exactly the way I want to purchase my car!
Most important message: don't buy a car you can't afford (yet).
You hit the nail on the head! My comment to this guy is to pretty much stop being a baby about it because he sounds like a broke bugger. So here’s my comment lads, if you really want the car, and you want to enjoy it, it’s gonna cost you, but the enjoyment is priceless. Only by the car if it doesn’t interfere or put you in a bad financially.
Thanks for the breakdown, taking away the costs that come with running any car really, this looks like a nice one.
Yeh any car is expensive when you take everything into account.
Very informative video, really helps as I’m looking for a 981 GTS. To be honest, I wouldn’t bother looking at the numbers, as long as you’re enjoying the car it shouldn’t matter. I’m sure my M2 works out roughly the same if not more but it’s smiles per miles that count! 🙂
Looking for this exact car for my channel some time in the future, thanks so much for the straight forward breakdown!
Our pleasure!
Thanks for the vid. I currently have my eyes on a Cayman, but with this info, I think I'll wait until I finish paying off my daily driver. I've only got a few months left on it.
Hello, Interesting video. I own a 981 Boxster S. I bought it new eight years ago. I agree with you about depreciation, around £6k per year. Servicing cost average around £700 every 2 years (20k service £600 and 40k service @ £800). This is my only car, so I use it every day I need to go out. Tyres last about 15 to 17k miles and cost @ £800 a set. Insurance for me (over 50) is @ £600 through Porsche. Most of my journeys are over 100+ miles and I get @ 30+/gallen easily. I have done 83k miles in my car and still get a buzz when I drive it. The build quality is outstanding. It has failed one MOT, the front lower suspension ball joint (cost @ £500 fitted). Normally, I would change my car after 5 years but, I enjoy this one and have no desire to change it. All I have said here is my experience with my car, others may have different experiences. In my opinion it is a great every day car and worth the money.
Interesting! Thanks for your insight, not surprised you have kept it, depreciation should start to really level out now, keep enjoying! James
The sheer beauty in this car... I just can't find words for it
It's great that you've had a high smile/mile ratio ;-) Once the car is paid off, and without the expensive warranty, your monthly costs will be much lower.
If you can, plan on doing some DIY, including oil and filter changes, brake pads and rotors, etc. There are plenty of videos explaining these jobs, you'll save a lot, and also have the satisfaction of engaging with your car in a different way. Also find a reputable indie shop for bigger maintenance jobs (e.g. coolant and brake fluid flushes), instead of paying a premium at a Porsche dealership.
Thanks for the video, and I hope you can enjoy some driving even with the current lock-down.
Yeh smiles per pound are definitely there so it’s fine haha. Agreed, also depreciation is always the worst in the first couple of years along with interest on the finance.
Would still like to keep the Porsche stamp in the book but agreed thinks like brakes can be done elsewhere.
Thanks for watching Simon! Any ideas on other videos you’d be interested in whilst we are in lockdown?
Brilliant video, very informative
Cracking video mate. Was seriously looking at the cayman, kind of knowing it would be expensive to run. However, I’m now going to look at something much newer (hot hatch) 25-30 k. Civic type r, megane trophy 300 etc etc.
Could you make a cost-comparison video for the previous generation Cayman?
I bought my 981 Cayman S last month and I absolutely love the car. It's a brilliant machine and I just want to drive it everywhere. This lockdown cannot end soon enough so that I can put some more miles on it 😅
Hi Alexis, they really are one of the best cars out there to drive, even slowly it’s a pleasure haha. Enjoy when lockdown is released!
How old are yo
Those figures are completely in line with any premium/fast car (inc BMW/Audi/Merc etc). As always finance is the biggest cost and the only way to get around that is to save and buy the car outright or perhaps take out a small loan that covers the depreciation of the car over the period you intend to keep it (3-4 years?).
For any premium car (especially one that’s over 4-5 years old) you should always budget £1-1.5k for servicing/maintenance and I agree you insurance is cheap given your no claims.
I'm looking into a 981 Cayman S currently and this price breakdown was helpful, thanks!
No problem, try not to let it put you off haha they are a great car 😎
Do it! 👌
Beautiful car mate it’s a heart decision not a head decision. Be good to see a new video to see how things have changed with a revised value of your car. I suspect it’s worth the same if not more now?
Thanks for the review, enjoyed. Porsche nut also we can’t help ourself LOL
Great video, thanks for sharing this information. Your costs are around £33 per day all in which is a lot of money. I know it may not be possible for everyone but I would pay the amount outright (or not buy at all if I am unable to do that). Also, I have learnt (the hard way) over the years that warranties really are a waste of money from a cost, logistical claims and "likelihood of needing it" perspective. I would continue to have the car serviced from the main dealer to get the official stamps (especially for a nice car like this) BUT get a Porsche specialist to carry out any actual repair work at half the price should you need this (I've been doing this on my Merc and saving a fortune).
Hi, just bought a 981 s 2013. Don’t think I’ll do the warranty. Assume you have had no issues with the active suspension mounts assuming you have sports chrono,
Interesting video, thanks! I own 2013 Cayenne S V8 diesel - I'll do the same calculations to see what's it costing me.
Nicely done, thanks
Thanks Travelling man
I’ve owned a B5 RS4 for 15 years and covered 210k miles in that time !! I’m to scared to work out how much it’s cost me ! Lovely car I’m hoping to replace my B5 for a Cayman 981
That was very interesting. Though i dont think its realistic numbers since you had huge deposit, so monthly payments were very very low. For such big deposit i think it should be considered that you had that money from credit also and so add to the month ly payments this credit premiums
Thanks for the nice video.. However it is my opinion that you can't include depreciation and finance payments to calculate the cost of ownership as depreciation is a standard logic for any car and the way of purchase really depends on each person ( As is insurance as well ) . The important thing to take into consideration and to get out of this video is the actual running costs, standard maintenance and any issues which I am glad to see you had none!
Hope you benefit from the increase in used car prices and that your depreciation isn’t that high. It’s a dramatic price increase here in the US.
Anyway, greetings from another 981 lover!
Hey, nice video. Quick question, I’m thinking to get cayman 981. However I’m not sure If Cayman S necessary? What do you think? Thanks
Thank you! Hmmm tough one, the S does seem to fetch quite a lot more, the 2.7 is a great engine we had a Boxster 981 2.7 it just lacks the torque of the S, I’d actually say the 2.7 is smoother though. I personally think it’s worth the extra but if a good deal comes along for a 2.7 don’t turn it down 😃
2.7 is easily enough, Caymans are long geared so you're hitting 70 in second gear when giving it the beans. My personal advice is get a manual
With your experience, would you recommend the Cayman or the Boxster? It appears that one gets the best of both worlds with the Boxster, but perhaps I’m not seeing the advantage of a Cayman?
I think its just a preference on bodystyle. Love a cayman, you couldnt payu me to have a boxter. Not fussed on convertibles.
Mad two years ago he says his car is worth 27k. Same car now is worth 35k
This inspired me to calculate what I've spend on my M2 since buying it new 24 months / 20k miles ago... now i regret it. Interestingly only 100ish more, works out at £1,085 a month.
Haha, interesting not much in it! I think any premium car if you sit down and do the maths is around this sort of figure.
@@nuttsoncars2710 Love the spec Cayman you have! Thinking of buying a 987.1 Base Cayman, have you got much experience of the pre 981's?
Yep owned a couple of 987 boxsters, great car!
I've had my '14 Cayman S for 8 months and raised mileage from 56k to 62k. I've put new tires on a bit early, Michelin PS4S, because I didn't like the stock F1's. I also bought a set of 18" Cayman wheels with Winter tires. I did the oil change myself and will do the serpentine belt myself, as well. Tires are more expensive than average, because of their size. The engine takes more oil than average, roughly 8 quarts, which adds to the cost of a change. My car isn't eligible for an extended warranty, so no costs there ...unless I need one. Doing standard maintenance myself, I don't find it radically more expensive to own than my previous WRX's. Should I have major motor or transmission problems, that all changes dramatically. As it is though, the smiles per dollar ratio is quite favorable.
As they get older it’s more acceptable to do your own maintenance which really helps, the big cost for me is the depreciation but that gets better the longer you keep it. Enjoy, they are great cars! 😃
Nailed it. I've had my 14 S (looks just like the car in this video) just crossed 100,000 miles (daily driving, road trips, and several tracks days and rallies) and its pretty painless. Porsche maintenance tax is a real thing, but I do ALL my own work. The one annoyance is clearing the computer after oil changes, but i have a friend that works for Porsche that will reset it for me.
As a Ferrari owner of 4 years, I am now looking to move back to Porsche for costs I can actually retain my sanity with 😅
When you added your loan go the cost i was gone.
Good vid, I bought my Cayman S (981) last year, owned it for about 11.5 months now... I've only put about 5k miles on it. it is my daily but I did live in London...moved up North now so can't wait for lockdown to be over so can drive it more on country roads!
Sounds good, I think we will all appreciate a country lane blast once this is all over!
I think there’s a flaw in the calculation that you made regarding the finance cost and depreciation. You accounted for it twice. The cost of finance is just your interest payments. The other portion of your payment goes into your asset. Meaning after you deduct depreciation you basically increased your stake in the asset (your car). Hence if you wanna calculate cost of ownership only consider cost of capital (interest rate) and depreciation of your asset. Sure the rest of your monthly payment is liquidity leaving your account but it is just transfered into ownership of your physical asset.
Saying that I own a base Cayman 981 and a BMW F30 daily. Factoring in that the 981’s depreciation is way less than the F30’s, insurance is cheaper and road tax is similar (the F30 being a Diesel which is taxed higher in my country), the 981 ends up actually being cheaper to run than the BMW. And depreciation is the key factor here. I bought both cars used and got a good deal on the 981 about two years ago. Looking at prices at the used market right now for a manual transmission base Cayman, the prices actually seem to have appreciated since then.
981 is a very reliable car I’ve owned it for 2 years now with zero issues but Porsche dealerships in US will want $800 for an oil change it’s the best car for the money especially if you’re buying a preowned but try to do most of the maintenance yourself thx for sharing your experience
$800 for just an oil change?
@@dw4525 that's my reaction too needless to say it won't happen again I can do it myself for less than $200 many Porsche enthusiasts do the maintenance themselves so that will be my route going forward kinda like a car restoration project on the weekends I still have my truck so no rush on the maintenance
Nice one mate, don’t beat yourself up to much, whatever car you buy it’s going to cost on finance unless you have cash to pay for it so why not get a mint car like you have. Cool car mate we’ll worth the money
Very interesting to see this as I own a 2017 BMW M4 and I’m considering a Cayman but I’ve never gone with Porsche before
Hi James, we had a 2015 M4 - good car but I think you’ll love a Porsche!
I have the same car and similar spec. Any sports car whether new or leased is going to cost you similar but I agree the best is buying second hand, if you have the capital.
Your costs are actually lower than mine, as Ive just shelled out £1,900 after a service, plus add on tracker, insurance, paint repair, tires etc. The Porsche's running costs are pretty low when compared to other cars so they're good value for money, the question is how much do you want to drive one?
Couldn’t put it better myself, there is no way to hide from the costs but they aren’t bad considering how much enjoyment they bring :)
@@nuttsoncars2710 SPH (Smiles per Hour) is very high in the Cayman.
I think including the initial deposit within the overall running cost of the car is misleading but informative video nonetheless. Thanks.
I bought my 981 Cayman S brand new in the US and my first 4 year of ownership is about $500 in total maintainence which consists of oil changes only and about $700/yr for insurance. I put about 20K miles and gas is about $3,000. Would be about $2,000 if you’re outside of California. So far no repairs and recall. Maintenance is very low when you buy new, but starting on the 5th year after warranty is out, it starts to get expensive. Seems like UK’s petrol is expensive compared to US, but tires and insurance is cheaper than the US.
his loan rate at 6% is insane though jesus
6% APR is pretty much the best you can get here in the UK at the moment
We are forever jealous of your fuel prices!
The "losing 6,000 of your deposit" is a BS way of looking at it. WHEN and HOW you pay for whatever costs accompany the car (including depn), has nothing to do with calculating WHAT it costs. Your depreciation costs are your 36,000-ish, less the 27,500 that you could get now. What if you deposit had been zero? Or 20,000? Why should that change what it costs you? Yes, you may be in a negative equity or cashflow situation, but that is still only a timing issue.
I'm 49 insurance is £250 on a 2013 cayman gets cheaper each year . Do the servicing myself.Great for drifting highy recommend.
Did you consider 'Lease Purchasing' with a third-party broker? You mention the tax is £500. Presumably that's for the 20 months ownership? Isn't it £325 per year?
It was an option which would of probably lowered my payment but wouldn’t of made it cheaper over all. Yeh £500 for the 20 months ownership :)
Hey, i've noticed you are selling your car on auto trader. Any reason why so quick. I currently have 2015 Audi TT Quattro and thinking to replace to Porsche Cayman S. Now i'm confused. Any advise? should I?
Hi Tomas, looking at selling the car to fund a little business venture, would love to keep and it as it would probably be much more cost effective for the next couple of years too, wil be sad to see it go, definitely buy one!
You said 6.9% APR isn’t too bad?? That’s brutal! I do appreciate the honest breakdown, though.
For a used car that’s pretty competitive
Nutts On Cars maybe things are different in the UK but in all my years of buying many, many cars in the US, I’ve never paid an APR over 5%. The one car we have right now that is not yet paid off is a 2017 Macan S and the APR for that vehicle is 3.2%.
@@thedudeabides1443 I got 6.9% too, interest rates on finance are pretty high in the UK compared to the US it seems. Of course the difference in finance is nowhere near as much as the difference in fuel cost though! Edit: Not sure how relevant this is but I got mine on CS (conditional sale) rather than PCP so it's a simple loan, I have monthly repayments with no lump sum at any point.
@@thedudeabides1443 long credit history of buying nice cars. Probably started with your parents adding you onto some of their credit. Then you picking up where they left off. Building credit from scratch and your first car apr will not be any less than 7% without a co-signer or being added as someone's authorized user.
@@calebcooper2060 I built credit from scratch in the US. No co-signers. I've been building credit history for just 6 years too. I recently got a 2014 Cayman S with 2.99% APR.
Very good video! I have the cash at hand and was wondering if I should buy it cash or finance it, seems like financing might be better off I guess.. If you had the full money upfront would you have bought it then?
Thanks Pedro! It depends if you need the money for other things, cash will always be the cheapest way of buying a car
I live in a high insurance area of London and my insurance is only £625 fully comp I’m under 30 with 4 years ncb on this car
I think you left out the cost of gas, or I guess I should say petrol.
I have a different angle on depreciation. While the resale value of your car goes down, there is also the value added savings over buying a newer replacement at appreciated costs. But I guess eventually you have to replace so perhaps I'm wrong in that.
Nice car!
I wish my insurance was only 650 quid a year. Here in Florida it costs me about 650 quid a month! Here in the States it's more like a Traders insurance policy where anyone can drive one of my 4 cars. When my son was on the policy, and at the time he was under 21, it was double what it is now...
At 24K miles my 981developed a cracked cylinder casing that trashed the engine.....Dealership told me they had never seen that problem before, one never knows if they are truthful or not but I haven't seen that problem illustrated online so far........Fortunately it was 4 months before the end of the warranty and Porsche USA replaced the engine......With labor costs it totaled 30K....I had purchased the 2016 version for 48K (gotta love the initial depreciation) with 14K miles in 2018 so thats not a repair to take lightly.....Besides that I have had only one other issue...My mechanic told me the previous owner didn't run the car hard enough and used cheap gas so spark plugs had to be replaced at around 18K miles....Brake pads are in my future and I rotate to winter tires for 6 months of the year so my tire consumption is extended.....Given this is my daily drive high octane fuel obviously adds up but the normal bills just are not that significant....This appears to be a very well built car....Repairs/maintenance is frankly less than my prior 2002 BMW 330CI.....Financing costs are what they are so I paid it off in a year to minimize the interest....This is a GREAT fun car that sounds amazing that with care I can own for 10+ years.....Long term ownership is a bit different viewpoint as you begin at some point to factor in the replacement cost in your yearly ownership, so after 5-6 years spending 3-5K in maintenance a year is cheap compared to 700-800+/mo payments.....I don't care about all of the new electronic crap, I just want a raw car that handles fantastic...The 981 is just that.
Blymey that was a catastrophic issue, like you say I haven’t heard of that before. Couldn’t agree more, the 981 is one of a best packages on sale nothing else tempts me out of it!
I have the same car.
It has cost me HALF of what it has cost you, over 20 months.
I've had coils replaced, air bag control unit, some switches. 2 Services (one was due when i bought the car and another one was done now).
I bought mine straight form a dealership, didn't need to do any 10 point check, I also got a free year warranty and on top of that I recently paid for another year warranty.
The 30month shenanigans is the real cost driver for him
I am in love with Porsche, but i could not reconcile their poor reliability, high maintenance costs, and dealer fees. I drive a 2015 RCF that cost me half, and the overall maintenance experience is great. Nice V8 with Borla. Do I think the Cayman or 997 looks better? Yes. Love their smooth lines.
I dont think you should have included the finacne costs if im honest. It skews the actual running costs of the vehicle. Theres lots of different ways to buy a car, only really interested in the running costs of the car.
I’m thinking about trading in my Mazda MX-5 2016 for a 2013 cayman s
Do it!
As a Miata owner I agree. Do it. Or buy an old C6Z. It’s like giving your Miata a medley of growth hormones, peptides and steroids. Hard to fit in a parking space but slays most porches on the track. Weighs 3,000lbs and is heads and cam away from 600 whp. They are low 30’s now. Just a thought.
My dad has an '08 Miata, which I've driven a fair bit and autocrossed once. It's a great little car, but there's really no comparison. The capabilities, the composure, and the comfort are all radically superior in a Cayman. Not just speed, either. The Cayman can do proper GT and errand work, which is a good deal more of stretch in a Miata for reasons of comfort and luggage capacity.
Just seen your car on Autotrader, whats the reason for selling?
Freeing up some money for a business venture, deposit now taken it will be a sad day :(
@@nuttsoncars2710 Its a beauty! I'm in the market for an M2/RS3/RS4 but I've just seen these are within my budget!
Do it!
Nutts On Cars yeh it’s a nice car mate
Deduct fuel and insurance then it’s fairly reasonable imo
Yeh can’t really get around those two whatever the car
If my auntie had a dick she would be my uncle
@@Stewwwwww 😂
Wouldn't it be better to calculate it per distance instead? 20k miles and you've paid £20k~, that evens out to £1 per mile, which isn't too bad, considering that's including everything, maintenance, fuel, tax, insurance.. I'd say it's pretty good? :)
Didn’t think of it like that but yeh that’s a better way if putting it, still feels expensive knowing a 20 mile journey cost £20 lol
More Thani expected.
Are you (partially) double counting when you have finance payments of £6,000 and depreciation of £6,000? How much deposit did you put in? And how much equity did you have when you sold it? You should not count all the depreciation if the finance payments were already covering part of that. Example (a real one). I bought a 991 back in 2012. Paid £72k for it. Put £16k deposit down and financed the rest. Sold it 40 months later for £52k, i.e. it had depreciated by £20k. However, when I settled the finance, I had £12k of equity left to put towards my next car. So the total cost to me was 40 x £700 per month plus £4k/40, i.e. £800/m. NOT £700/m plus £20k/40 = £1,200/m
Depreciation vs Enjoyment. Breaking it down it’s cost you just 3 pence per mile which isn’t too bad at all considering the amount of fun. A £6000 loss for your time of ownership so far and the 20,000 miles is pretty reasonable. I’m certain you won’t look back and wish you’d driven it less and let’s face it, just how much enjoyment is a car that lives it’s life in a garage🤔! Non!!
but if you put £12k in then you take £12k out when you come to sell, or have I missed something
He bought it on PCP finance which means the car is a rental for 30 months and comes with an option to pay a lump sum at the end of the loan term to own the car outright. PCP typically only covers the car’s depreciation, if you decide to not make the final payment, you just return the car to dealer and it’s money down the drain.
i think the 981 won't have the bore score, no warranty necessary imo
That's honestly not a lot for a sports car, which is good because I bought one on Saturday! I'm averaging 36mpg so far but I've had 2 motorway trips which it got 45+ on, plus a 3 hour blast which it didn't get 45+ on... I'm 32 with loads of no claims so my insurance is half as much. I've also forked out for a warranty but not the Porsche one so it's only £600 which was to extend a standard 6 months out to a year so £100 a month. Having only done about 300 miles so far I can't comment on reliability of course, but it hasn't broken yet!
For comparison, I just sold a Lexus GS450h. That's a hybrid although with a bigger engine and more power than the 981 (3.5L, same engine as an Evora but strapped to a 200hp electric motor for maximum rear tyre destruction) and was more expensive when new (£57k vs £52k for the exact cars). That car was cheaper on tyres (18/235s all round), averaged about 38mpg on fuel with my spirited driving style, although at low speeds it went electric for 4-5 miles so that's a big difference. Other costs were similar to the Porsche. I bought the GS at £20k and it lost about £5k in 20 months plus another £4k just due to the difference in buying from a dealer vs what I can sell back to them for- needed a quick sale for the Porsche so didn't go private.
I looked at an M6 as well, which would have been ruinous to own. Also felt like a huge downgrade from the GS in everything but power, especially luxury, handling and sound. Also decided against an XKR and E63 because they both felt just like a more powerful, much less efficient GS with a far worse interior. Ended up deciding to ignore luxury and go for the epic handling and sound of the 981CS, but also of all the cars I was looking at it was the sensible option with good luggage space and reasonable running costs. One interesting side note- the GS infotainment gets a lot of complaints but it's so much easier to use when driving than the Porsche or that M6. Worse when parked but if I want to sit still I wouldn't be in a car!
Great choice on the Porsche out of your options, you’ll love it and they really should hold up money wise!
@@nuttsoncars2710 I had the same model and year as your good self, with similar costs I may add. No major problems within the first year, then out of the blue came the electrical gremlins!! Warning lights started showing up intermittently on the dash, eg power steering loss, and transmission failure, but with no indication that this was affecting the running of the car.. Then as suddenly as they popped up, they disappeared without trace. This occurred maybe a couple of times a week, for a number of weeks, as this was my daily.
The OPC ran a diagnostic check, and found no faults! and yes, no warning lights made a show!! lol. That particular visit cost me the thick end of £180... In the end, I purchased my own diagnostic tool, alas from a dodgy seller/dealer on the internet, whereby the tool was a piece of junk!!!
Soon after, the warning lights stopped coming on all together, but by then I lost faith in the car.. Part ex'd it for an Audi, so now I'm well happy fella
@@alanwestgate0014 Cud this be that scan tool seller mate , Google "Bavarian Dominator @ the Review Centre"
I bought a Cayman new back in 2016 that cost (including 100% inport tax) close to 100,000 quid and by the time I traded it back to Porsche, I only got half of it back. The service cost in general were similar to yours and I had two wheel changes too. Insurance was close to 1600 quid per year and fuel just costs a bit more than good old blighty. Thank god I didn't daily it as traffic sucks in the opposite side of the world. Averaged like 4000 km per year but never thought of the costs as it was just goddamn fun to drive.
ur insurance price is good about 430 every 6 months
If it was HP it would have been better
Wow you thought it was worth 27.5 in this video. They have gone up probably over 20% now as I just cannot find anything under 30 and nothing with your spec for much more.
I know, the market has gone mad - real shortage of stock at the moment! I need to re-do the video 😃
@@nuttsoncars2710 haha, yea, i guess it makes for a more accurate 'cost of ownership' to take into account selling or current cost. I'm sure it takes a little maths when on PCP.
If you ignore the finance, actually quite reasonable. Taking finance on any car will always be a money drain irrespecitive the price of the car or the interest rate - the cold hard maths is that your paying interest on something that is loosing value - its a compounded double loss.
It depends...I buy everything with finance if the interest rate is lower than 3%. You make more money by investing the rest.
This is a shocking waste of money, i service my cayman at a local garage who does a good job for 200-300£, bought mine for £16k and dont spend anywhere near what u do.
As they get a bit older it is definately financially beneficial to do exactly that
That's decent. My dad does mechanic work as a hobby so I'd only have to pay for parts if he does it. Are these cars mechanic friendly? Which I mean you don't need no special tool or such to get access to the engine of these cars?
Nutts On Cars yep true servicing with porsche carries a premium when reselling
why would you waste money on a warranty and then say it probably wasn't required - what a wast of £1200
Easy to say with Hindsight, if work was needed it would of been worth it so you can never predict
I put a warranty on my 981CS too- I even put one on my previous car which was a Lexus and that obviously didn't break (not even a wiper or bulb, let alone any faults). The thing is though, if the gearbox had gone in the Lexus it would have cost me £5k (GS450h...crazy car). The 981 is also expensive if something goes wrong. If you're spending £30k+ on a car, an extra 4% to remove any realistic chance of a big payout to fix it is easily worth it. In my case I got both warranties at £600 too, so only 2%. It's mostly psychological, but I can push the car a bit without worrying if anything will snap.
ask yourself how much is a pdk gearbox
A bag of sand a month but worth it
100% 😃
Wow your finance is high? I put £12k down on my 981 GT4 and it’s £450 pcm
That's not bad. That PCP? I'm not so into financing but with PCP do you get any money back?
Pcp yeah. Well since I bought it it’s gone up I’m value apparently. I would assume I’d have positive equity left at the end of the agreement but you never know
That's great. I really love the 981s. Having just started my career I might not be enough at the moment to afford one but wouldn't mind putting a big deposit down on one on hp and paying that off whilst I save for a property
If you need finance on anything, you can’t afford it. That’s my option
1 Bitcoin running costs wow
A decent review of your motoring... Did you enjoy it? Was it worth it?
If you have a decent house then buy a 8 year old or so, 2nd car (bmw, vw audi etc). Always use this one for crappy journeys (to the shops, when it is bad weather, heavy traffic etc...)... Then get the Cayman out for good journeys (weekend sportive, trip to Europe etc)... Then every mile you do in the Cayman is a special one..
Next, no more of this PCP crap.. Save up and buy your car (or at least 50% of the cost).. Then budget 5% of car value/year for maintenance/repairs etc... Any savings you can roll over for the next car..
Also I see most porsche owners of older vehicles do some basic maintenance themselves...
Hope you have many more great motoring moments..
Still, costs way less than having a girlfriend and live together with her
Me Julie isn’t that expensive, sounds like you need a new Julie
Buy outright and learn how to fix your self.
If you love the car don’t total up the costs
I dont really think you should count depreciation. I wouldnt buy a car for 100k, sell it for 50k, and tell people the car cost me 150k. I'm looking to buy a cayman with cash. So if i take out monthly payments and depreciation, i should expect to pay 8000 quids, or about 10,000 USD over the course of 20 months.
If you bought a car for £100k and sell for £50k that’s cost you £50k not £150k? I just thought it was worth including the depreciation costs as you can’t hide from it and some and are a better investment than others. James
0.0499 per mile
just sooooo expensive.......I have the Porsche Mecan turbo which has an average service of £2,000 every 20,000 miles and the wife a Mecan diesel aith average servicing of £1,100 ..........love them but if mine wasn't a company car id never pay the money....
Why the name Nutts on cars? Are you a McNutt per chance? I am. But my friends call me Busta.
😂😂😂
That is cheap insurance
Yeh can’t complain on that!
Where did you get that insurance please?
Used confused.com or compare the market I think and Debenhams came up cheapest, hope that helps!
where do you get the figure of 5 or £600 per month on any nice car ? - I'm trying not to be too critical, but you know what they say 'a fool and his money......' - ive owned 2 911's and numerous other high spec'd cars and NEVER EVER spent the money you are talking about
So none of them depreciated?
Nutts On Cars certainly not the 911’s
Which insurance are you with?
Debenhams
Grove and Dean brokers insure my 2016 981 2.7 for £320 Fully comp and that is without any no claims bonus at all. I am 61 and limit my milage to 4000 miles per annum, car garaged overnight.
@@russelllutwyche5736 Age will be a huge factor in that, as will your address.
No claims can make a big difference too of course: ignoring all the optional extras I chose, my insurance would be £348 fully comp and I'm 32 but that's with 11 years no claims in an area which isn't especially cheap. At my old address it would have been under £300. I knocked about £70 off the premium by adding my 67 year old Dad as a named driver though. I'm not letting him drive the car any time soon of course!
@@ApothecaryTerry I have a 26-year-old son, and he is also yet to drive the car!
It works both ways :)
could i just say i have had a few porsches. You need to service them yourself like i do and fill the book in and keep receipts. The serpntine belt is £25 and takes max 1hr. learn,,stop being ripped off, And £1200 for a warranty, thats a a lot of money for a car that shouldnt go that wrong. They re not expensive if you do it yourself. They are difficult to work on but not impossible if you learn how. I have had my 981 for 20 months and done the air conditoning condensers.. These all fail on all porsches. (What you see thru the grill at the front,,radiator) i bought two for £120 and gased it at kwik fit for £30. 2 new rear tyres, ebay £300 + 20 fitting. and service...oil £72 as you need 7.5 litres and a filter £27.... dont say you cant do it,,,you can..
Agreed this would definitely save a huge amount, I’ve now stopped the warranty so anything that goes wrong we will probably fix ourselves, I still want to take it to Porsche for it’s every other year service though just for the stamp in the book. James
Real question is, has this car improved your career or love life? If so, arguably £1000 a month is a good investment.
Pushbike.
Good shout 🚲
So what is the subjective monetary value of that smile on your face, looks you get from others and the “bling” effect? Is that worth it, and if yes, then you have a bargain!
Pass thanks I will stick with my Vauxhall Mervia cheep as 🍟 and gets me to a to b
Very very wise man
Nutts On Cars depends what puts a smile on your face
that's not bad really.
Shortcut....20 months, 20,000 British pounds, so 1000 British pounds per month. Ugh, 8 mins of pain for a figure given in 10 secs.