[Str8Razr]

Automoda, if don't know, the 996 is one of the few cars that has flaws so well documented, it is the only car you can buy sight unseen because those flaws are easy to fix (although not exactly cheap).
* The Intermediate shaft bearing (IMS) has a small chance of failure <10%, but if it does, the engine will need to be significantly repaired or replaced. Check to see if the IMS has been replaced by one from LN Engineering (if so, there should be a sticker on the door or under either "hood."). If you end up having to have the work done, the engine can be left in the car, but the transmission has to come out, so you may as well get a new clutch and a new rear main seal (RMS).
* Coolant expansion tank is a large bit of cast plastic. It doesn't last forever. It will need to be replaced sooner or later. Failure mode is leakage.
* Water pump. This is a service item. Not sure what the interval is, maybe 50K miles? The impeller is made of a composite material that won't last forever. If the impeller shreds, the bits can get stuck anywhere. Some sources say that you should not replace it with a water pump with a metal impeller because, if the bearing fails on that one, the impeller can grind itself into the engine case. If you replace the water pump, you are going to get a new serpentine belt and tensioners.

I've done all this on my 2002 C2 Cabriolet AND for you Cab lovers who haven't yet experienced the failure of the cable that pulls the latches that hold the clamshell in place, that is also fairly well documented. Had to visit the dealer for that one...Ouch.

Despite all of this, I am over the top happy with my 996. While I don't have a lift in my garage, any repair that can be done with a floor jack and jack stands is doable on this vehicle in your own garage.