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$10,000 Porsche Cost of Ownership

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If you are a fan of Top Gear, you may have watched the cheap Porsche challenge where they buy 3 Porsche’s for under $5k. While buying a Porsche under $5k is probably not a smart idea, a $10k Porsche isn’t that bad. Keep in mind that I have done 90% of the work myself. If you are not hands on, add labor costs on top of everything.

The Porsche Boxster purchase cost $9,900, or $10,700 with taxes, registration, and PA inspection.

Repairs = $1,530

  • $300 rear window replacement – I operated the convertible top in freezing temperatures, causing the brittle plastic rear window to crack.
  • $120 O2 Sensor replacement – Easy job. I did it in the parking lot of Advanced Auto Parts.
  • $700 front tire replacement and towing. – Lucky me. BOTH of my front tires blew at the same time when I was driving from D.C. to Philadelphia. I had to be towed to Philadelphia when I was only 45 minutes into my 3 hour trip.
  • $100 inner tie rod – I took the opportunity to replace the OEM springs with lowering springs made by Eibach.
  • $0 door handle – spring clip broke. I took the door apart and replaced the spring with a rubber band I found.
  • $100 AOS – The air-oil separator broke. It took me 30 minutes to replace.
  • $200 fuel pump – This was a smelly, but easy job. The opening to the fuel tank is right under the battery.
  • $10 tail light bulbs.

Preventative Maintenance = $160

  • $120 Oil Change – This car takes 10 quarts of expensive Mobil1 Synthetic Oil in 10,000 mile oil change intervals. I only owned the car for 20,000 miles so I changed the oil twice. This cost includes the special tool I needed to remove the drain plug.
  • $40 Coolant drain and fill.

Upgrades = $1,415

  • $300 Eiback Racing Lowering Springs
  • $200 RSS Underdrive Pulley
  • $550 full exhaust system (less headers)
  • $15 tail light and head light tint
  • $25 Euro side markers
  • $275 aFe Power Cold Air Intake
  • $50 brighter headlight bulbs.

Total cost = $13,805 over 3 years and 20,000 miles. That is about $4,600 per year, or $0.69 per mile. I did not include the cost of high octane premium fuel or car insurance because it varies widely from location to location.

Net Cost = $3605. After selling the car for $10,200, the Porsche experience only cost me $3,605. That is not bad considering all of the fun autocross events, HPDE track events and car meets I was able to participate in.

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Hyder A.

Hyder is the engineer and blogger behind Finance Throttle, a blog that helps you accelerate your net worth through personal finance. With a Master’s degree and 10+ years of experience in manufacturing, Hyder is well versed in the topics of engineering economics and financial studies helping him to invest in equipment and reduce manufacturing costs. Hyder is passionate about cars and earning money as he bought a Porsche at 21, became a landlord at 24, and paid off $40,000 in student loans at 25. Along with his wife, they are currently on track in paying off their $282,000 mortgage by 2026 (Only 7 years!)