To want a Porsche?

This is quite said and the very definition of “all fur coat and no knickers”.

Do you still have dependent children? Having a Porsche when you don’t have a secure roof over your heads is ridiculous.

DH has had two Porsches. They are absolute money pits - cost a fortune to run and fix when they inevitably go wrong. I was secretly relived when his first one got stolen. Personally, I think they aren’t as impressive as an Audi or Merc, far too flash and ‘try hard’.

Recently retired and we've bought an expensive car, over £40k. I've always had a good job but inexpensive cars. I've always owned my own house and for decades had a second property abroad.
I'd be prioritising saving for a house and putting money in my pension rather than a car that's going to depreciate in value ... just because its financially unsound.

If you can afford it, and any ongoing repairs, go for it. My BIL has 2 Porsches, and a brand new VW Camper Van. He likes vehicles, doesn't live in a huge house by any means but earns well and spends his money on what he enjoys, which is cars.

Life is short, honestly we spend so much time analysing why we should and shouldn't do things. Sod it, just do it. If it's not for you then sell on.

What everyone else said. Would add, once you get the Porsche you'll presumably be looking for even more prestige again, and on and on. The Porsche won't solve the problem any more than the Merc did.

You've done brilliantly for yourself. Invest a few hundred pounds in a meeting with a financial adviser and think about next steps.

Daft to prioritise a car over property - cars depreciate, property does not.
And while you can pick up some Porsches fairly cheap, insurance, parts, and servicing are £££.

I had a Porsche in the 1990s, kept it 3 months and then returned it (company car).

Every boy racer tried to beat me off the lights and no one would ever let me out of side streets and I was constantly being cut up.

I got so fed up I switched to an MX-5. The difference in how other road users treated me was astonishing. I’m now on my 3rd. I am constantly being let out of side streets and I’ve even had people pull over to let me past. Totally different experience

You already have an expensive car so I don't think the upgrade would make enough of a difference to your life to be worth it.

With the caveat that it's completely personal choice what people spend their money on, bear in mind that, in terms of impressing others, there are vast numbers of people who aren't interested in cars at all and just see them as a means of getting from A-B, so you are never going to make a universal impression whatever car you have.

I don't think anyone would be impressed by your porsche. We have a couple on our street of semis and they don't inspire awe or wonder. In fact we were put off getting one when these families got their cars. I think buying a house in your situation is more pertinent. That I think would be more impressive to me if I knew you (not that there is anything wrong with renting, but house over car always).

You're renting and you want to buy a Porsche? YABVU.

Whilst I appreciate a nice car and would normally say ‘go for it!’. I wouldn’t buy a flash car before buying a house. Flash car and still renting is a bit fur coat and no knickers isn’t it?

You don’t need to justify your background and being overweight, if you want a nice car, buy it. But if you’re putting it on finance and not buying it outright it will massively impact on your borrowing ability if you did want to get a mortgage in the future. Mortgage lenders hate big monthly car payments.

You need to be congratulated for the huge amount of work you've put in to get where you are.
However, it's clear you have insecurities and buying a porsche won't change that.
If you can commit to financing a luxury car, because I'm assuming that's how you'll purchase it, then you can surely commit to a mortgage and bettering your housing situation.
You need to do some self work too, to fight those demons you've got around feeling inferior because of your past and that need to get external validations by showing off things.

I am a multimillionaire. I am 15 Million.
I have a lovely house all paid for and a few other homes all paid for.
I wouldn't dream of getting a porche for many reasons.

1. it will get stolen!
2. if 1) doesn't happen you will be targeted until it does.
3. it's wasted money, it only depreciates in value
4. expensive upkeep
5. you would be so scared to get a little scratch on it, it would cause added stress to your life.

I use cars that I'm not precious about.
I don't care if my car gets a scratch or is dirty. I'm not cheap either. I go on high end holidays and my kids are in a private school.
I enjoy my life with day to day things and spend my money there.

Oh, I also grew up in a poor area and my dad worked in a factory.
We never had amazing things but I never felt we were poor because we were literally surrounded by poverty so that was my norm.

Be smart, save up for a house. Who cares what people think, they don't live your life.

I’m currently trying to persuade my DH not to buy a Porsche. We can comfortably afford it, but I don’t associate with what I feel to be the flashy, try hard image.

OP please consider your DC and their future/your legacy when you decide how you spend (car) or invest (house) your money.

Get it if you want it, and you can afford it. Why the hell not.

I'm a single mum too (29 with dc 2)
I wanted the Taycan for ages, but I didn't buy it as I had to buy my home first. Mortgage free fortunately, but as my dc is so little I will wait a few years and get the Taycan. Currently looking for a Velar and will get dc dad to pay for it 😄

I personally wouldn’t buy a Porsche if I didn’t own my own home yet. That would be my main priority, because it’s so important for future financial security.

People who know that you own a Porsche but rent your home will think that you’re wasting money on financing an expensive car (whether or not that is actually the truth) instead of investing in your future and won’t be impressed.

It sounds like you’ve had a very successful life and have so much to be proud of. You don’t need validation from the kind of people who think flashy cars are a status symbol. Your successes speak for themselves already. Prioritise what will actually secure your future over expensive status symbols.

If you had a house I’d say go for it

but at the moment you are paying someone else’s mortgage every month with nothing to show for it long-term and with the potential of financial instability now and when you retire (given you will need to pay rent as a pensioner if you don’t own. T then)?

I would much rather own a piece of the world which will increase in value than an expensive depreciating asset… in fact that’s such common sense

save for the house, keep the merc - and go for the Porsche later once you have the house

personally I have the house and we pay private education for our kids - our next thing is upgrading from our basic car but that was the least of my priorities

If you had a house I’d say go for it

but at the moment you are paying someone else’s mortgage every month with nothing to show for it long-term and with the potential of financial instability now and when you retire (given you will need to pay rent as a pensioner if you don’t own. T then)?

I would much rather own a piece of the world which will increase in value than an expensive depreciating asset… in fact that’s such common sense

save for the house, keep the merc - and go for the Porsche later once you have the house

personally I have the house and we pay private education for our kids - our next thing is upgrading from our basic car but that was the least of my priorities

You couldn't have put into words any better than this. 100% agree.

I buy nice cars because I like nice cars. Sometimes that means they are expensive, and sometimes they’re not. I couldn’t care less what anyone else thinks. Indeed, that’s my approach to buying / doing things in general. But live and let live. I think you’d be surprised how little people actually do notice the car you drive. I’m retired now, but when working you’d see a huge difference between how similarly paid people spent their money, and there’s no right or wrong answer.

But, if the only reason to buy a Porsche (which is owned by the VW Group anyway) is to impress others then I would question whether it’s really the right thing. They are however very nice to drive and live with, so if you value that sufficiently then you don’t need to justify it to anyone IMO.

Ffs. Porsche.

A preacher wouldn't impress me. I can see your reasoning though, if it makes you happy do it.

Agree with PPs - buy the house first. Then the car, then the second house...

Therapy.

You're still tied to childhood insecurities. It's pretty shallow to be impressed by cars. Drive round leafy Cheshire for a bit and you won't be thinking, 'Wow, these are people I aspire to be like '.