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      06-02-2018, 10:59 AM   #1
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I'm having serious 2nd thoughts about getting the M2 Comp

I don't know if it was divine intervention, but something happened the other day that is making me second guess my decision to buy the M2 Competition...............and just to be clear, it has less to do with the M2 Comp's shortcoming/concerns, than with my own personal struggles.

Here is my situation. I am first in line at my dealer for an M2C. My wife, not a big fan of me changing/buying cars, gave me the OK to go for it, but no payments. In other words, sell my e46 M3. So with the necessary equity (if I sell the M3) and spousal approval there, I listed the car for sale on the M3 forum. FWIW, it is very clean, pretty low miles, and totally dialed in for HPDE's. It would not be easily replaced unless I spend even more than what I did on mine.

I should also mention, that I really want a 991 GT3. To me that would be the ultimate (streetable) track toy, but of course way more money and also a way bigger challenge to get the "spousal unit" to agree to. And if I get an M2 Comp now, the GT3 dream is out the window for many years to come, because she would insist that I keep the M2 for at least 3-5 years, I'm sure!

With my ad for the M3 placed, and starting to get second thoughts about letting it go, coupled with concerns about how a heavier M2C will compare, and the dream of a GT3 fading away, this happened:

I'm driving home from work in my DD. I live in semi rural area and my drive home is mostly FWY, but has a couple of lights shortly before I get to my house. At the last light I had to stop, and opposite of me I noticed a GT3. Keep in mind, this is only the second time I have seen one of those in our area, so not a common occurrence. As I am waiting, I lowered my window, so I could take in the sound of the engine when he takes off. His light turned green before mine, as there were cars turning left in his direction also, but not in mine. Secretly I was hoping he would step on it and give me the full symphony of 9k RPM, but I figured it was a long shot. But the driver did not disappoint. He flogged the car and went through the first 2 gears at WOT. Each time he shifted there was what sounded like a mini explosion, just a glorious sound of pure performance. It really made my day. As the GT3 faded off in the distance and my light turned green, I took off in my back to reality GTI thinking to myself, NOW THAT WOULD BE WORTH SELLING MY CAR FOR.

So was this just a coincidence, or was this divine intervention? Should I keep the e46 M3 and just be happy with it for another year or two and save up for a GT3, or do I get instant gratification now and get the M2C, but possibly regret it in a couple of years, wondering what could have been.
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      06-02-2018, 11:06 AM   #2
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Simple - just tell your wife that the M2 Comp is just to hold you over till you can have the GT3.

3 years at $3k per month saved is $36k. A nice chunk to put towards that 991 when its value settles down.
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      06-02-2018, 11:13 AM   #3
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Wait for the GT3. Imagine yourself in M2C and you have a similar experience as mentioned above. You'll regret not being patient. Plus in 3 years there will another better M2.
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      06-02-2018, 11:15 AM   #4
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Originally Posted by COChris View Post
Simple - just tell your wife that the M2 Comp is just to hold you over till you can have the GT3.

3 years at $3k per month saved is $36k. A nice chunk to put towards that 991 when its value settles down.
If I tell her that, she'll say, just wait until you can afford the GT3........or she wouldn't agree to it at all. A 6 figure sports car is a hard sell to most spouses.

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Originally Posted by yaymitch View Post
Wait for the GT3. Imagine yourself in M2C and you have a similar experience as mentioned above. You'll regret not being patient. Plus in 3 years there will another better M2.
That is kind of what I am thinking also
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      06-02-2018, 11:23 AM   #5
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Wait for the GT3. The rub is that if you want a new GT3, you’ll most likely have to first buy another Porsche from a dealer to get in queue for a GT3. The way it works at most dealers is that there are three lists. The first list is customers who have spent over $1MM. The second is customers who have spent less than $1MM. The third is people who haven’t bought anything and ask to be put on a list. When the quarterly allocations come out, the dealer calls people on the first list and ask if they want a car. If there are allocations left, the second list gets called. The third list never gets called.

If you get a GT3 and want to remain on the list, it’s in your best interest to sell the car back to the dealer from which you bought it. They’ll sell it for over sticker and split the proceeds. That’s why you see cars with a few hundred miles for $30k-$40k over sticker.

My spouse is okay with swapping cars, so I bought a 997.2 Turbo S in November. Sold it back to the dealer in April, bought an M2, and ordered a Competition, all with the knowledge that I should have a GT3 allocation in the spring of 2019. If you want a GT3, you have to plan well in advance.
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      06-02-2018, 11:35 AM   #6
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Originally Posted by Smindustries View Post
Wait for the GT3. The rub is that if you want a new GT3, you’ll most likely have to first buy another Porsche from a dealer to get in queue for a GT3. The way it works at most dealers is that there are three lists. The first list is customers who have spent over $1MM. The second is customers who have spent less than $1MM. The third is people who haven’t bought anything and ask to be put on a list. When the quarterly allocations come out, the dealer calls people on the first list and ask if they want a car. If there are allocations left, the second list gets called. The third list never gets called.

If you get a GT3 and want to remain on the list, it’s in your best interest to sell the car back to the dealer from which you bought it. They’ll sell it for over sticker and split the proceeds. That’s why you see cars with a few hundred miles for $30k-$40k over sticker.

My spouse is okay with swapping cars, so I bought a 997.2 Turbo S in November. Sold it back to the dealer in April, bought an M2, and ordered a Competition, all with the knowledge that I should have a GT3 allocation in the spring of 2019. If you want a GT3, you have to plan well in advance.
A new one is not in the cards for me. Even if I could, I'm not sure I would, as everything goes up exponential in price. Just track insurance alone, would be ridiculous on a new one. I'm thinking a lightly used 991.1. They seem to be in the $130k range, give or take, and might drop to low $100k in a couple of years. If so, then that would be in the cards for me.

Read recently that the average income of a new 911 buyer is $600k/yer. Boxster/Cayman $300k/year. No wonder I am not able to afford a new 911 ;-)
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      06-02-2018, 11:41 AM   #7
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I think you should take your time and sit on it. The way I see it is you can easily get yourself a competition if and when you decide to whereas your E46 which you personally know the history and how it's been taken care of, not so much. Even if you don't decide on the M2, you can probably figure out which direction you want to take things. I would hold off selling your M3
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      06-02-2018, 12:01 PM   #8
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Originally Posted by norMcal View Post
A new one is not in the cards for me. Even if I could, I'm not sure I would, as everything goes up exponential in price. Just track insurance alone, would be ridiculous on a new one. I'm thinking a lightly used 991.1. They seem to be in the $130k range, give or take, and might drop to low $100k in a couple of years. If so, then that would be in the cards for me.

Read recently that the average income of a new 911 buyer is $600k/yer. Boxster/Cayman $300k/year. No wonder I am not able to afford a new 911 ;-)
I'm looking at new because I want a very specific configuration that no one seems to order (manual, Touring, radio delete, big fuel tank, and no other options). My ideal car is priced close to base, so it's not a great jump from a used car.

With respect to track insurance, I'm not certain you can get it for anything in excess of $100k. I haven't bought it in years, and the last thing I had it for was a 997.1 GT3 RS. The highest policy cap I could find was $100k, which was fine because at that time the car was only worth $120k. If it were totaled and they paid me $100k, I was certain I could part out what was left and make up the balance.

That said, I do advocate track insurance. I went off in the wet and flattened the left side of my RS. The repair was about $35k. Track insurance paid out with no issue.

Concerning average income, an interesting fact is that the Mercedes demographic with the highest income is buyers of E63 wagons. They average low seven-figures, if I recall correctly.

Circling back to the GT3, once you drive one you'll realize that they are the ultimate driving machine. They're extremely versatile and leave you wanting nothing but more road. I started my love affair with cars by buying BMWs, however I've come to realize that I'm not happy when there's no 911 in the garage. Go find one to drive and you'll forget all about the Competition, and you'll probably resent your M2 on the drive home.
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      06-02-2018, 12:13 PM   #9
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Quote:
Originally Posted by just blaze View Post
I think you should take your time and sit on it. The way I see it is you can easily get yourself a competition if and when you decide to whereas your E46 which you personally know the history and how it's been taken care of, not so much. Even if you don't decide on the M2, you can probably figure out which direction you want to take things. I would hold off selling your M3
I am starting to lean more an more in that direction. Thanks!

Quote:
Originally Posted by Smindustries View Post
I'm looking at new because I want a very specific configuration that no one seems to order (manual, Touring, radio delete, big fuel tank, and no other options). My ideal car is priced close to base, so it's not a great jump from a used car.

With respect to track insurance, I'm not certain you can get it for anything in excess of $100k. I haven't bought it in years, and the last thing I had it for was a 997.1 GT3 RS. The highest policy cap I could find was $100k, which was fine because at that time the car was only worth $120k. If it were totaled and they paid me $100k, I was certain I could part out what was left and make up the balance.

That said, I do advocate track insurance. I went off in the wet and flattened the left side of my RS. The repair was about $35k. Track insurance paid out with no issue.

Concerning average income, an interesting fact is that the Mercedes demographic with the highest income is buyers of E63 wagons. They average low seven-figures, if I recall correctly.

Circling back to the GT3, once you drive one you'll realize that they are the ultimate driving machine. They're extremely versatile and leave you wanting nothing but more road. I started my love affair with cars by buying BMWs, however I've come to realize that I'm not happy when there's no 911 in the garage. Go find one to drive and you'll forget all about the Competition, and you'll probably resent your M2 on the drive home.
Yes, if you have the means, the spousal approval, and can't find what you want, then you might as well go for new. The used ones are so close that it really is worth getting new, if you can swing it.

I've seen track insurance go higher than $100k, but I see it as you stated, parting out, even a totaled car, would most likely generate quite a bit of money, so no need to insure it 100%. I don't on my M3 and just do enough to ease the blow should something happen.

I've been a life long Bimmer guy, but they have lost their way a bit, while Porsche seems to be stepping it up. I was never a huge 911 fan, but I have ridden in a couple of GT3's & RS on track and recently driven my buddies 991.2 GTS. I can understand the hype now. It is for real. The M2 still has the edge as far as convenience (rear seats) and cost over a P car, but at 3600 lbs, it is going in the wrong direction for me, which is just something that adds to the dilemma, but is starting to make the decision for me.
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      06-02-2018, 12:25 PM   #10
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997/991 gt3 is my dreamcar and I had to sell my m3 e46 to buy a 18 m2, which I now regret.
You get more gt3 of your m3 due to the 7000-8000rpm, they're worth more than any torque in the world.
Keep m3 and save up for gt3, easy.
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      06-02-2018, 12:42 PM   #11
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Quote:
Originally Posted by Isty View Post
997/991 gt3 is my dreamcar and I had to sell my m3 e46 to buy a 18 m2, which I now regret.
You get more gt3 of your m3 due to the 7000-8000rpm, they're worth more than any torque in the world.
Keep m3 and save up for gt3, easy.
Sounds like the same scenario and like I should stay put, or chances are very good I will regret it. So you have a 18, and are already regretting selling the e46M3? Didn't think it would happen that soon.

Thx for your input
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      06-02-2018, 01:56 PM   #12
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Too long.. Didn't read... Clearly it would be easier for the folks in the forum to have this conversation with your wife.
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      06-02-2018, 02:10 PM   #13
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Only P car I can even consider would be a cayman and the M2c is a better value IMO. If I had the option of getting a GT3 in a couple years I would definitely hold off. GT3 is on a different echelon. I am kind of in the same boat. Don't have an e46 M3 anymore but the M2c will be my "fun" car on top of my DD. I have been toying with the thought of getting an Exige S as a straight track toy but then I'll lose most creature comforts. Even though it won't be a DD, having rear seats, heated seats, good stereo, large cargo area with the seats down, etc would be nice. Obviously, even a used GT3 at 1.5X the cost of an M2c will be a better drivers car.
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      06-02-2018, 02:11 PM   #14
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Speaking from first hand experience.
I have previously owned 991.1 gt3
I currently own 991.2 gt3 manual.

The GT3 is an outstanding car in both versions.
The m2 comp is impossible to be compared to experience of a gt3.
The m2 comp will be a fantastic car, no doubt, but it is no GT3.

Go test drive one. You will see that there is value in the GT3 to what you pay for.

Worth every penny.
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      06-02-2018, 02:21 PM   #15
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If you don’t track id skip the Gt3 it’s not a great street car. I’ve driven my 997 Gt3 800 miles on the street in 2 years if that tells you anything. 991 is a bit softer but still m2c would be a better street car you can use every day.

Last edited by CosmosMpower; 06-02-2018 at 02:42 PM..
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      06-02-2018, 02:23 PM   #16
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Quote:
Originally Posted by M3 Adjuster View Post
Too long.. Didn't read... Clearly it would be easier for the folks in the forum to have this conversation with your wife.
Lol intervention
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      06-02-2018, 02:56 PM   #17
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Originally Posted by CosmosMpower View Post
If you don’t track id skip the Gt3 it’s not a great street car. I’ve driven my 997 Gt3 800 miles on the street in 2 years if that tells you anything. 991 is a bit softer but still m2c would be a better street car you can use every day.
I understand it’s a matter of perspective, but I personally feel that the GT3 is a fantastic street car. I put 30,000 miles on my RS by driving it daily for two years, whether that day was spent on the street or track. I went through lots of tires and fuel, but it was fantastic all around. Granted I was coming out of an Exige S as a daily driver, so I might be a bit of a masochist.
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      06-02-2018, 04:07 PM   #18
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Too long.. Didn't read... Clearly it would be easier for the folks in the forum to have this conversation with your wife.
LOLOL
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      06-02-2018, 04:07 PM   #19
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      06-02-2018, 05:42 PM   #20
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I have an m2 lci and a gt4 - they are both awesome cars but the Porsche is just in another league. You can daily an M2 quite easily and it overall feels like a sporty sedan. Sit in a GT model and it’s obviously a race car. Gt3 is your dream (mine too, but I am trying to get a new allocation at some point playing the dealer game). It’s what you should go for!
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      06-02-2018, 05:50 PM   #21
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Quote:
Originally Posted by COChris View Post
Simple - just tell your wife that the M2 Comp is just to hold you over till you can have the GT3.

3 years at $3k per month saved is $36k. A nice chunk to put towards that 991 when its value settles down.
3 years would be: 108,000 saved.

3,000 a month * 12 months * 3 years = 108,000
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      06-02-2018, 06:47 PM   #22
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Quote:
Originally Posted by norMcal View Post
I don't know if it was divine intervention, but something happened the other day that is making me second guess my decision to buy the M2 Competition...............and just to be clear, it has less to do with the M2 Comp's shortcoming/concerns, than with my own personal struggles.

Here is my situation. I am first in line at my dealer for an M2C. My wife, not a big fan of me changing/buying cars, gave me the OK to go for it, but no payments. In other words, sell my e46 M3. So with the necessary equity (if I sell the M3) and spousal approval there, I listed the car for sale on the M3 forum. FWIW, it is very clean, pretty low miles, and totally dialed in for HPDE's. It would not be easily replaced unless I spend even more than what I did on mine.

I should also mention, that I really want a 991 GT3. To me that would be the ultimate (streetable) track toy, but of course way more money and also a way bigger challenge to get the "spousal unit" to agree to. And if I get an M2 Comp now, the GT3 dream is out the window for many years to come, because she would insist that I keep the M2 for at least 3-5 years, I'm sure!

With my ad for the M3 placed, and starting to get second thoughts about letting it go, coupled with concerns about how a heavier M2C will compare, and the dream of a GT3 fading away, this happened:

I'm driving home from work in my DD. I live in semi rural area and my drive home is mostly FWY, but has a couple of lights shortly before I get to my house. At the last light I had to stop, and opposite of me I noticed a GT3. Keep in mind, this is only the second time I have seen one of those in our area, so not a common occurrence. As I am waiting, I lowered my window, so I could take in the sound of the engine when he takes off. His light turned green before mine, as there were cars turning left in his direction also, but not in mine. Secretly I was hoping he would step on it and give me the full symphony of 9k RPM, but I figured it was a long shot. But the driver did not disappoint. He flogged the car and went through the first 2 gears at WOT. Each time he shifted there was what sounded like a mini explosion, just a glorious sound of pure performance. It really made my day. As the GT3 faded off in the distance and my light turned green, I took off in my back to reality GTI thinking to myself, NOW THAT WOULD BE WORTH SELLING MY CAR FOR.

So was this just a coincidence, or was this divine intervention? Should I keep the e46 M3 and just be happy with it for another year or two and save up for a GT3, or do I get instant gratification now and get the M2C, but possibly regret it in a couple of years, wondering what could have been.
I was first in line at my dealer, got the allocation and backed out of the deal. I too was afraid of the overall weight of the car and not really sure how pure the car would really end up being. I was looking for a true drivers car for the road. I ended up ordering a Porsche 911 Carrera T. I believe this car is only 3100lbs.
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