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On the positive side, the 04's had engineered out many of the problems of the 3.4 cars of 99-01. The issues with the cracking cylinder heads were remedied with thicker cylinder walls and the oil pump, I believe, has a better output than the earlier cars. It is still an 96 engine and the IMS can be a problem. If you buy it, don't wait to have that done. You may ask on the board here, for a good shop in your area. BTW it helps to post your location if you want the name of a good shop close by, or for that matter, a shop for a ppi wherever the car is located.
The engines will last with frequent oil changes and the ims upgrade. I wouldn't be worried with the 120k if the ppi checks out.
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Tony G
10 Porsches come & gone!
1962 Morgan Plus 4 
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