Porsche cars are a luxury that basically everybody thinks about having in their garage. Owning a Porsche car means status and the fact that you have a lot of money, at least in everybody’s thoughts.
Does owning a Porsche make you a wealthy person?
Is it really that hard to buy Porsche?
How much do you have to pay for Porsche for real?
In this article, you’ll find out everything you need to know about owning a Porsche. Find out how much the models cost, how expensive the year maintenance is for each vehicle, how much money Porsche owners make, and more. Let’s dig in!
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How Much Does The Average Porsche Owner Make?
Depending on the model of the Porsche vehicle you want, you need to make between $120,000 and $400,000 after taxes annually to buy a new Porsche properly.
Now, you could assume that this proves that all of your buddies and the social media influencers who drive expensive automobiles are affluent.
But, some are likely to spend more than they can afford.
In this section, we’ll talk about how to save up the money for a Porsche vehicle, whether the recommended saving tips are accurate, and how much of it you can really single out for a Porsche.
How To Save Up The Money For Porsche?
Keep reading to find out if the often recommended tips on saving money are good for you.
Saving Money As A Percentage Of Annual Income
Many financial experts advise spending 20 to 35 percent of your yearly after-tax income on a car.
This generalization incorporates financing fees and taxes in the buying price.
However, this approach is at fault since it disregards other car costs, such as insurance, maintenance, petrol, registration, etc.
All of these additional automobile costs might vary significantly depending on the vehicle you choose to purchase.
For instance, if you drive 50 miles a day on average, a Porsche Cayenne Turbo S will cost you much more than a Toyota Prius.
The Proportion Of Monthly Income Devoted To Transportation Expenditures
The following conventional wisdom states that people should not spend more than 10 to 15 percent of their monthly after-tax income on transportation, which includes the cost of their vehicle, petrol, insurance, maintenance, and other auto-related expenses.
This generalization isn’t ideal either because it disregards the vehicle loan term.
The monthly automobile payment will change significantly depending on whether you finance a car for 84 or 48 months.
Budget for Car Lovers (The 20/4/15 Rule)
The 20/4/10 rule is a helpful guideline that we love!
This guideline suggests that you put down 20%, finance for just 48 months, and spend no more than 10% of your gross monthly income (before taxes) on the car payment and other transportation costs like petrol and insurance.
While we appreciate this approach since it considers all finance and transportation costs, it ignores the fact that automobile enthusiasts also view their cars as a hobby of a kind.
We believe car enthusiasts should change the 20/4/10 rule to 20/4/15, which we refer to as the “Car Enthusiast Budget.”
According to the majority of financial experts, consumers should allocate:
- 50% of their monthly income, but the income that is left when you pay your taxes and when you pay your “needs” (housing, transportation, food, etc.),
- 30% to the things you desire to buy, and
- 20% to debt repayments and savings.
Also, it is financially rational to devote 5% of your 30% “wants” budget—if buying a Porsche is something you’ve been fantasizing about—to travel, for example.
How Rich Do I Have To Be To Buy Porsche?
Well, considering the monthly payments you would have to make and the cost of the monthly/yearly payments for maintenance, gas, etc., the numbers can be high.
So, the golden answer is… * drum rolls *
If you want to be financially secure, your annual income should be between $120,000 and $400,000 (after taxes).
That is because you have to add several things to the discussion:
- The price of the vehicle,
- the car rate you have to pay each month, which can go from $1,000 to $4,500 per month,
- monthly expenses, which can go from $400 to $700 (gas, mechanic, etc.)
Is Owning a Porsche Worth It?
There are many reasons not to buy a Porsche vehicle, but really the only disadvantage is the price. Well, in our opinion.
The price is vast even at the start, and then the devil really shows its face. The gas, the maintenance, which is absolutely everything, the extra costs, additional equipment, etc.
So, as we said, yeah, there are many reasons not to buy the vehicle, but what are the reasons to buy the car?
So let’s check the good reasons for a change.
Strong Engines and Outstanding Performance
Porsches are renowned for having solid engines and outstanding performance. This makes a Porsche a fantastic option if you want something enjoyable to drive!
Porsche has been in business since 1948, so they have decades of expertise in ensuring that their vehicles have top-notch engineering and safety features.
There is no denying that having a Porsche ensures superior engineering.
Porsche is fixated on quality and accuracy in everything from engine parts to the carpeting and leather of the interior.
Reliable and Long-Lasting
Porsche vehicles are built to endure.
Well, if you take care of them, of course, that’s precisely why we mentioned the maintenance several times across this article.
Porsche cars are known for having a high resale value, which means that despite wear and tear, they maintain their initial purchase price over time.
Even while Porsche luxury automobiles are more expensive than most other brands, you may still find them at competitive pricing anywhere there is an authorized dealer in your region.
Recheck the tables, and you’ll find the average price for the used Porsche vehicles. Maybe you will find the right fit for you!
Super Stylish Vehicles That Attract Attention Everywhere!
Passing up the chance to experience a Porsche means losing out on an unforgettable experience.
Since its founding, Porsche has distinguished itself from rivals thanks to a reputation for superior engineering, style, power, safety equipment, and dependability.
But, oh, those looks!
Vehicles With High Performance That Meet All Your Needs
The Porsche Panamera is the ideal automobile for you if you’re searching for a sleek and elegant ride, while the Porsche 911 is always an option if you want something sportier.
Porsche offers lineups that will meet all of your demands.
While there are many beautiful vehicles to select from, Porsche is a favorite due to its incredible features and safety measures.
The Porsche Is a Purchase Whose Value Will Only Increase With Time
The value of the Porsche is an investment that will increase over time.
A used Porsche may be worth more than its original sticker price regarding resale or trade-in due to its excellent engineering and design reputation.
You may expect to enjoy your automobile for many years to come if you take good care of it by following the maintenance schedules mentioned on this page.
These vehicles have been proved safe and dependable over many years and generations.
All in all, yes, we think that having a Porsche really is worth it!
How Much Does A Porsche Cost In Real Life?
Porsche has a lot of cars! Yep – a lot of it!
And you will see that in just a second.
In this paragraph, we will list every possible Porsche car there, their recommended selling price*, the price for a used model, and their average monthly and yearly maintenance expenses.
*The list price of a product, sometimes referred to as the manufacturer’s suggested retail price, recommended retail price, or proposed retail price, is the amount the manufacturer theoretically advises that a retailer sell it for.
If you go to Porsche.com, you can see six models in total. The models in question are
- Porsche 718
- Porsche 911
- Porsche Taycan
- Porsche Panamera
- Porsche Macan
- Porsche Cayenne
Keep reading if you want to check out the prices!
Remember that the dealer sets the actual selling price so that it can go higher or lower, depending on the dealership.
Price: Porsche 718
Manufacturer’s suggested retail price | Average price for the used vehicle | Monthly maintenance cost | |
718 Cayman | $63,400 | $53,985 to $169,444 | $300/$400 |
718 Boxster | $65,500 | $46,995 to $168,718 | $300/$400 |
718 Cayman T | $72,500 | $79,900 to $99,888 | $400 |
718 Boxster T | $74,600 | $79,950 to $87,779 | $400 |
718 Cayman S | $75,400 | $53,985 to $169,444 | $500/$600 |
718 Boxster S | $77,500 | $46,995 to $168,718 | $500/$600 |
718 Cayman GTS 4.0 | $90,300 | $89,040 to $140,908 | $600 |
718 Boxster GTS 4.0 | $92,400 | $104,387 to $144,864 | $600 |
Price: Porsche 911
911 Carrera & Targa Models | Manufacturer’s suggested retail price | Average price for the used vehicle | Monthly/Yearly maintenance cost |
911 Carrera | $106,100 | $61,289 to $87,917 | $500 |
911 Carrera Cabriolet | $118,900 | $18,959 to $464,900 | $600 |
911 Carrera 4 | $113,400 | $22,959 to $184,888 | $500 |
911 Carrera 4 Cabriolet | $126,200 | $22,959 to $184,888 | $600 |
911 Carrera S | $123,000 | $109,334 to $219,876 | $600 |
911 Carrera S Cabriolet | $135,800 | $18,959 to $464,900 | $600 |
911 Carrera 4S | $130,300 | $30,995 to $238,888 | $600 |
911 Carrera 4S Cabriolet | $143,100 | $89,991 to $159,000 | $600 |
911 Targa 4 | $126,200 | $68,000 to $149,998 | $600 |
911 Targa 4S | $143,100 | $108,500 to $121,300 | $600 |
911 Carrera GTS | $142,600 | $84,888 to $239,995 | $600 |
911 Carrera GTS Cabriolet | $155,400 | $84,888 to $239,995 | $600 |
911 Carrera 4 GTS | $149,000 | $77,700 to $229,995 | $600 |
911 Carrera 4 GTS Cabriolet | $162,700 | $154,263 to $226,483 | $600 |
911 Targa 4 GTS | $162,600 | $128,850 to $141,150 | $600 |
911 Edition 50 Years Porsche Design | $182,200 | $197,200 | $600 |
911 Turbo Models | |||
911 Turbo | $182,900 | $64,999 to $377,902 | $600 |
911 Turbo Cabriolet | $195,700 | $64,999 to $377,902 | $600 |
911 Turbo S | $216,100 | $64,999 to $377,902 | $600 |
911 Turbo S Cabriolet | $228,900 | $64,999 to $377,902 | $600 |
911 GT3 Models | |||
911 GT3 | $169,700 | $114,950 to $399,900 | $600 |
911 GT3 with Touring Package | $169,700 | $114,950 to $399,900 | $600 |
911 Sport Classic | |||
911 Sport Classis | $272,300 | $121,406 to $440,123 | $600 |
Price: Porsche Taycan
Manufacturer’s suggested retail price | Average price for the used vehicle | Monthly/Yearly maintenance cost | |
Taycan | $86,700 | $94,995 to $219,998 | $400 |
Taycan 4 Cross Turismo | $97,700 | $93,700 to $200,000 | $400 |
Taycan 4S | $106,500 | $103,800 to $110,300 | $500 |
Taycan 4S Cross Turismo | $113,000 | $93,700 to $200,000 | $500 |
Taycan GTS | $134,100 | $133,000 to $180,000 | $600 |
Taycan GTS Sport Turismo | $136,000 | $93,700 to $200,000 | $600 |
Taycan Turbo | $153,300 | $94,995 to $219,998 | $600 |
Taycan Turbo Cross Turismo | $155,900 | $93,700 to $200,000 | $600 |
Taycan Turbo S | $187,400 | $185,000 to $187,600 | $600 |
Taycan Turbo S Cross Turismo | $190,000 | $93,700 to $200,000 | $600 |
Price: Porsche Panamera
Manufacturer’s suggested retail price | Average price for the used vehicle | Monthly/Yearly maintenance cost | |
Panamera | $92,400 | $8,795 to $220,999 | $400 |
Panamera Platinum Edition | $106,300 | $80,000 to $220,999 | $500 |
Panamera 4 | $97,000 | $48,000 to $173,000 | $500 |
Panamera 4 Platinum Edition | $110,500 | $80,000 to $220,999 | $500 |
Panamera 4 Executive | $103,700 | $43,000 to $245,900 | $500 |
Panamera 4 Sport Turismo | $103,200 | $79,000 to $155,000 | $500 |
Panamera 4S | $110,900 | $79,000 to $155,000 | $500 |
Panamera 4S Executive | $122,200 | $46,000 to $150,000 | $500 |
Panamera 4S Sport Turismo | $117,100 | $79,000 to $155,000 | $500 |
Panamera 4 E-Hybrid | $109,000 | $76,725 to $159,588 | $500 |
Panamera 4 E-Hybrid Platinum Edition | $120,000 | $76,725 to $159,588 | $500 |
Panamera 4 E-Hybrid Executive | $113,500 | $76,725 to $159,588 | $500 |
Panamera 4 E-Hybrid Sport Turismo | $113,000 | $76,725 to $159,588 | $500 |
Panamera 4S E-Hybrid | $119,200 | $76,725 to $159,588 | $500 |
Panamera 4S E-Hybrid Executive | $130,500 | $76,725 to $159,588 | $600 |
Panamera 4S E-Hybrid Sport Turismo | $123,200 | $80,000 to $220,999 | $500 |
Panamera GTS | $135,200 | $80,000 to $220,999 | $600 |
Panamera GTS Sport Turismo | $141,400 | $80,000 to $220,999 | $600 |
Panamera Turbo S | $186,400 | $80,000 to $220,999 | $600 |
Panamera Turbo S Executive | $196,800 | $80,000 to $220,999 | $600 |
Panamera Turbo S Sport Turismo | $190,400 | $80,000 to $220,999 | $600 |
Panamera Turbo S E-Hybrid | $196,400 | $120,000 to $240,999 | $600 |
Panamera Turbo S E-Hybrid Executive | $206,800 | $180,000 to $260,999 | $600 |
Panamera Turbo S E-Hybrid Sport Turismo | $200,400 | $180,000 to $250,999 | $600 |
Price: Porsche Macan
Manufacturer’s suggested retail price | Average price for the used vehicle | Monthly/Yearly maintenance cost | |
Macan | $57,500 | $21,995 to $117,980 | $400 |
Macan T | $63,100 | $21,995 to $117,980 | $400 |
Macan S | $68,400 | $21,995 to $117,980 | $400 |
Macan GTS | $82,900 | $36,995 to $114,270 | $400 |
Price: Porsche Cayenne
Manufacturer’s suggested retail price | Average price for the used vehicle | Monthly/Yearly maintenance cost | |
Cayenne | $72,200 | $36,000 to $144,800 | $400 |
Cayenne Platinum Edition | $80,400 | $56,000 to $164,000 | $400 |
Cayenne Coupe | $80,700 | $80,000 to $189,000 | $400 |
Cayenne Coupe Platinum Edition | $84,800 | $56,000 to $164,000 | $400 |
Cayenne E-Hybrid | $86,500 | $44,000 to $94,000 | $400 |
Cayenne E-Hybrid Platinum Edition | $94,400 | $44,000 to $150,000 | $500 |
Cayenne E-Hybrid Coupe | $91,800 | $50,000 to $150,000 | $400 |
Cayenne E-Hybrid Coupe Platinum Edition | $95,500 | $55,000 to $160,000 | $500 |
Cayenne S | $90,900 | $55,000 to $163,800 | $400 |
Cayenne S Platinum Edition | $95,100 | $55,000 to $160,000 | $500 |
Cayenne S Coupe | $95,200 | $55,000 to $160,000 | $500 |
Cayenne S Coupe Platinum Edition | $97,300 | $55,000 to $160,000 | $500 |
Cayenne GTS | $113,100 | $14,950 to $149,500 | $500 |
Cayenne GTS Coupe | $115,800 | $55,000 to $160,000 | $500 |
Cayenne Turbo | $135,900 | $55,000 to $160,000 | $600 |
Cayenne Turbo Coupe | $139,500 | $98,059 to $245,862 | $600 |
Cayenne Turbo S E-Hybrid | $171,300 | $153,658 to $245,862 | $600 |
Cayenne Turbo S E-Hybrid Coupe | $173,800 | $153,658 to $250,800 | $600 |
Cayenne Turbo GT | $188,700 | $153,658 to $280,000 | $600 |
Is Porsche a Money Pit?
Even with Porsche prices in the sky, it really all depends on which model you choose and how well the previous owner took care of it.
Also, it can be a money pit if you don’t have the money for the car, but you’re buying it for status or other similar reasons.
In that case, yeah, Porsche is a money pit.
But, on the other hand, in cases where you have the actual money for the vehicle, and if the car is in good shape, Porsche is not a money pit.
Luna Meschiari is a full-blooded car nut who is well known to local garages, as each article is meticulously researched and peppered with the latest piece of information. Guess what car she’s driving right now? A RAV4 2021 Hybrid. But her heart also sleeps for pickups like the F-150. Get to know Luna better on the about us page.
Advertising links are marked with *. We receive a small commission on sales, nothing changes for you.