The Porsche Taycan is at the top of my list for my next car. I’ve been looking hardcore for two months straight now. It came down to Lexus and Porsche.
As I get older I realize I need something that’s functional. It kind of limits the type of cars which are options. I’ve done the Corvette thing in my mid-twenties. You can’t tote around the grandkids in a two door car. I’m not really into going fast so having the biggest engine isn’t important.
All of these things have brought me to the Porsche Taycan. It’s four dour, a decent amount of speed and the insurance isn’t outrageous. I did research a Lexus IS500 and the insurance didn’t make sense to me at all. By the way, a used Taycan is cheaper than a 2025 IS500 for me if that helps sum up the situation.
I’ve looked at so many YouTube videos since I first started my search it’s absurd. Before anyone asks I did test drive a 2019 Porsche Panamera. It was a beautiful car but I’m more of an electric fan at the moment.
I most likely won’t make a purchase until some time in 2025. Also my plan is to purchase a used car. If you’ve been following used electric cars, especially the Taycan you’ll see it has lost a significant amount of value within two to three years.
I’m a real stickler for making sure to not be caught in a bad situation with a car. You don’t want to be upside down for any reason with a car. Don’t buy a car with a loan and then it gets into an accident, gets totaled and the insurance gives you less than what you owe. Making it hard for you to not only pay off the loan but then you are stuck without a car.
Back to car prices; these Porsche Taycan cars are well over $100,000 new. Normal working people like me should be very careful trying to finance something like this. That’s why I’m looking more towards $50,000. I’m sure I could do $65,000 but why? My goal is to pay it off as quickly as possible.
My wife and I don’t like to carry a lot of debt. So I’m willing to wait another year or two to get this car way cheaper. I’ve seen a lot of conversations about the cost of maintenance and make sure it has a warranty. I’m kind of on the fence on this one. It truly depends on the situation. If I was stuck making payments on it for a couple of years I’m 100% thinking about the warranty. If I have a car that I’ve paid off in one or two years not so much. The reasoning is if I have a paid off car all of the money that I have saved from no payments allows me to fix the car regardless of how large the maintenance price is.