Trying to buy a 1988 - price

Bhom · 06-22-2025, 01:35 PM

Hi guys,

I have a friend who would like to sell me his 1988 cabriolet and it seems difficult to figure out what a good price would be. The car has about 180k miles on it but is in pretty good shape, drives well, has had recent engine work to address some leaks (but has never been rebuilt to my knowledge). Paint is not original on the passenger side -- has been repainted (it's not terrible but you can tell the paint isn't a 100% match). Interior's in decent shape, not perfect, there's a crack in the dash but I'm not too worried about that. Top is in good working condition.

I'm having trouble finding comparable sales to base value on due to the high mileage. I don't mind the mileage and will be buying the car to enjoy and work on myself.

Any ideas on how to figure out a good offer here? Any advice and thoughts would be very much appreciated

wildthing · 06-22-2025, 03:03 PM

$40K to start. Pics would help.

Bhom · 06-22-2025, 04:16 PM

Thanks, I'll try and get some. Also noteworthy is that it's a southern california two owner car and has been garaged it's whole life.

A separate but related question: I want my credit union to finance the car, but they base their auto loan amounts on KBB values which do not exist for this car. This means we'll have to get it professionally appraised so they can base the loan amount off of the appraisal value. Does anyone have a good recommendation for an appraiser in the LA area? I'd like to spend as little as I can since the goal isn't to get a detailed valuation, but rather just to satisfy my credit union.

Matt Monson · 06-22-2025, 05:34 PM

I think Techweenie offers appraisal service.

dg567 · 06-22-2025, 05:59 PM

I would say about 35k - the cab market is soft, especially for one with 200k miles.

Nick Triesch · Nick Triesch's Garage

You have to understand that a 3.2 with that mileage is due for at least a top end because of oil use from the valves and seats. In 2019 I paid $11,000 for a top end that included a clutch and flywheel and also new injectors and sensors. So you must figure that in when you get ready to buy. Would cost a lot more now.

NYNick · NYNick's Garage

It's never a good idea to finance a classic car and a worse idea to finance one with 180K miles that's never had the engine rebuilt.

I think you can do better. G50 Cabs are the best P-Car deal out there. Doesn't get much better than a 911 convertible in California.

Bhom · 06-23-2025, 03:00 PM

Thanks for your thoughts.

To clarify my intentions and goals with this purchase, because I suspect that it's different than many here: I am trying to buy it specifically because it is high mileage and I am buying from a friend, as it will give me a chance to own and experience one of these cars at a price I can afford. I know I can find nicer ones in the $40k-$50k+ range, but that's not really what I'm looking for and is out of my price range. I understand it will need a rebuild at some point, maybe soon, and when it's needed I will be performing that work myself. The whole point here is to use the fact that I'm capable and willing to do all the work on this car myself to make it affordable for me to own one. By buying hopefully below market, I'll also hopefully not lose any money on it if I find myself in a situation where I would need to sell it. As for the merits of financing it, to each their own, but I'm comfortable financing this kind of car at the price I'm getting, so long as inspection doesn't present any show-stopping issues.

Thanks for the suggestion of Techweenie -- I called and spoke to Bill, he's super helpful. He offers a pre-PPI for $350, has anyone used him and understand the thoroughness of his pre-PPI vs an actual PPI from a shop? Callas Rennsport quoted me $900-$1200 for a full inspection. I guess if I know I'm going to want a full inspection anyway, should I skip having Bill look?

As for appraisal: my credit union said that the appraiser should be from a "certified appraisal company". I feel like this may rule Bill out for that purpose. Is the notion of a "certified appraiser" a real thing in CA?

Thanks again everyone for your thoughts!

47silver · 47silver's Garage

There are a few on bring a trailer with sold prices

Bhom · 09:09 AM

Quote:

Originally Posted by NYNick

It's never a good idea to finance a classic car and a worse idea to finance one with 180K miles that's never had the engine rebuilt.

I think you can do better. G50 Cabs are the best P-Car deal out there. Doesn't get much better than a 911 convertible in California.

To clarify what you mean when you say I can do better -- do you mean you think I can find a significantly better car in the $30k - $40k range? If so I'm definitely open to seeing what else is comparable in price.

I appreciate the notion that, usually, buying the cheapest sports car you can find isn't a great idea for most people. But in this case, I want to find something affordable that currently runs well that I can work on myself and enjoy. I'd personally rather a $30k car that needs work soon but that I know is solid than a $45k car that won't need anything for a while, but that's just me

Quote:

Originally Posted by Nick Triesch

You have to understand that a 3.2 with that mileage is due for at least a top end because of oil use from the valves and seats. In 2019 I paid $11,000 for a top end that included a clutch and flywheel and also new injectors and sensors. So you must figure that in when you get ready to buy. Would cost a lot more now.

I will be completing all rebuild work myself as it becomes necessary, and will be getting compression and leakdown test to get an idea of how soon that might be. I get that parts are expensive, but I think the calculus / value proposition here changes if labor is free and the car has been well cared for, would you disagree?

NYNick · NYNick's Garage

When I wrote my response to your initial posting, there was no mention of price. Buying a car with 180k miles that has needs, even from a friend, isn't a great idea. There was also no mention of your capability. That changes things a bit.

At $30K with needs, you'll be at FMV after you fix it up yourself, including an engine rebuild. Plus, you will have spent a lot of time getting it done. I hear that you are ok with that approach. We here are just sharing our experiences.

You absolutely need to know upfront just how good/bad the car is, and how much it will need now or in the future. Bill has an impeccable reputation.

I stand by my advice to not finance a classic car, especially one this old, with this many miles, that needs work. Cars like this are toys, and old toys at that. If you can't afford to pay cash for your toys, well, you know the rest.

But hey, that's just me. Good luck with your project.

Nick

cabmandone · cabmandone's Garage

Quote:

Originally Posted by dg567

I would say about 35k - the cab market is soft, especially for one with 200k miles.

I sold mine 3 years ago, maybe a different market now, for $40K and it didn't have the original engine or transmission. The paint would be a bit problematic to me and it would be interesting to know a bit of the history. With my car, I had just rebuilt the top end, freshened up the transmission, the interior carpet was all replaced, and the car had been repainted but not a complete strip down.

Matt Monson · 06-25-2025, 07:57 AM

Do you want a cabriolet? Or do you just want a 911? If you’re a cab guy and feel some affinity for your friend’s car, proceed. If it’s just a random opportunity, pass.

Bhom · 12:51 PM

I would say I'm a cab guy, yes. I think the coupes are prettier but I really enjoy an open air car more. Would love a targa but those are way too expensive for me at this point. Current dd is an M3 cab and I wouldn't trade it for a coupe. I want to be able to experience owning and driving a 3.2, and a cheap but serviceable and well kept cab really seems like the only financially viable option. I think I'll have a blast with it.

One thing about my friend's car is that it's a rare colour but I would really choose something else if I could. I don't hate it, though.

Absent an obviously better option in the $30k-$40k range that runs and drives well, it's hard to imagine there's a better way for me to get into a 911 than this one for ~$30k. This is assuming that the comp/leakdown doesn't indicate an immediate rebuild is needed.

Matt Monson · 06-25-2025, 03:41 PM

If you can get it for that, you’ll probably do all right.

cabmandone · cabmandone's Garage

Quote:

Originally Posted by Bhom

I would say I'm a cab guy, yes. I think the coupes are prettier but I really enjoy an open air car more. Would love a targa but those are way too expensive for me at this point. Current dd is an M3 cab and I wouldn't trade it for a coupe. I want to be able to experience owning and driving a 3.2, and a cheap but serviceable and well kept cab really seems like the only financially viable option. I think I'll have a blast with it.

One thing about my friend's car is that it's a rare colour but I would really choose something else if I could. I don't hate it, though.

Absent an obviously better option in the $30k-$40k range that runs and drives well, it's hard to imagine there's a better way for me to get into a 911 than this one for ~$30k. This is assuming that the comp/leakdown doesn't indicate an immediate rebuild is needed.

I was a "cab guy" too until I realized that the original air conditioning was woefully inadequate at best from reading posts in the tech section. I drove the car with the top down. If conditions weren't optimal for top down driving, I didn't really drive the car. IMO a Targa is middle ground. It's a car that you can still track and have some fun with. If I had it to do again, and I might, I'd go Targa all day over a Cab.

Bhom · 06-27-2025, 01:29 PM

Quote:

Originally Posted by cabmandone

I was a "cab guy" too until I realized that the original air conditioning was woefully inadequate at best from reading posts in the tech section. I drove the car with the top down. If conditions weren't optimal for top down driving, I didn't really drive the car. IMO a Targa is middle ground. It's a car that you can still track and have some fun with. If I had it to do again, and I might, I'd go Targa all day over a Cab.

Yeah, I mean I absolutely do want a Targa more than cab -- I adore them aesthetically and it's open enough to have the open air driving feel. But I'm pretty sure that a 3.2 Targa is out of range for me right now, and I will definitely love the cab until I can afford to move in to a Targa. I live in LA so every day is convertible weather, and I do mostly drive my daily driver, an E46 M3 cabriolet, top down unless it's crazy hot out.

Car passed smog, getting compression and leakdown next week, followed by PPI at TRE and appraisal from Bill. If I like what I see I think it's mine.

Matt Monson · 06-28-2025, 06:17 AM

Once the deal is done, please post what you paid for it. That’s how we get data of sales…

JettandTye · 06-29-2025, 07:05 AM

Good luck, I think at $30 and you should be ok.

We bought a 77 targa w/ fresh engine rebuild but rest had been sitting for some time. Took about $50k to address all of the mechanical issues, there were lots, but no rust. Interior took another $30k to refresh. We didn’t do any of the work but had to spend ~40k in parts and plating.

so we are $130k in on a car that is worth $80k at best, but she is a toy that is incredible to drive!

Phony930 · 06-29-2025, 03:00 PM

To the people saying you'd be "ok" at $30k... are there other G50 cabs selling for $30k that I'm not aware of? That seems like quite a good price for what sounds like a driver condition car with no immediate issues, which most of them are. I'd think even at $40k it would still be a good buy so long as it didn't need an immediate large influx of cash pumped into it.
I don't follow prices religiously, but these numbers just sound on the very low end of the range to me -- if there's data to show that they're selling in this range, even imperfect cars, even higher mileage, can you show me where?