Valuing a Boxster: 2005 987... $8000 with problems

[Ponyo]

Hi all. I just joined this so apologies for not knowing my way around.

Anyhow, I've been looking at a 2005 987, 53k miles, manual for $8000 and needs work.

The bad:
Lights that are on: Engine light, ABS light, Brake light, airbag light, PSM warning.
The car was in a front right bumper collision. The headlight was replaced and the bumper was fixed - the finish was mediocre. It seems the airbag needs replacing (the emblem on the steering wheel looked like it was glued back on)
The driver seat belt won't retract back in. It's all loose.
The top doesn't quite perfectly seal at the driver's window.
There is only 1 key.
The breaks/rotors need replacing (which i would do myself, as well as anything else)
The rear tires will need replacing not too long from now.
It seems there is a bit of lag in first gear, is this normal? This was my first time driving a boxster, and my friend who's driven quite a few seems to also think there was lag.


The good:
Clean title.
The body seems straight.
The suspension seems good.
The engine sounds good and seems to be in good condition.
It seems to have all of its services done.


Opinions? Am i crazy? I'm mechanically inclined (engineer) looking to buy my first Porsche. I've been doing research to find solutions to all these problems. I would be estimating about $5000 for repairs. Reasonable?

[SilberUrS6]

Do NOT buy this one as your first one. That cheap Porsche will be more expensive than a fully-sorted one for twice the price.

Unless you plan on tracking it all down yourself, and doing all the fixing yourself, you'll be smacking your own forehead with a 5lb sledge in no time. Spend the extra money for a good one, and skip this pile of woe.

[CountD]

As they say, this car was ridden hard and put away wet.

I have no idea where you are located, but if you were in Southern California you would have the pick of the litter.

This car needs a tremendous amount of work, and it's only 9 years old. There are so many out there you need to do some legwork for the next 6 months and go and check out every one that comes up for sale.

After all, this isn't a '73 RS so you can be very picky and very choosy.

[speeder]

What they said. ^^^^

[bpu699]

You can buy a good one for 10k. These things are a dime a dozen. If you can get it for $5000, and drive it into the ground then do it. The moment you start fixing things, you will be upside down.

Bo

[techweenie]

I'd be tempted, myself.

I just sold a 2006 for just under $17K and it had 98K miles on it.

The 987 is an extremely reliable car, but you need a nearby mechanic who knows the cars well and has the diagnostic equipment.

[Ponyo]

Thanks for all the feedback. It seems the majority say stay away, which is understandable.

And yes, i would have a trusty mechanic check the lights and read the OBD codes. I guess i'll just keep looking and see if anything comes up.....

[CountD]

It's pretty low mileage though. Who knows? If you get it checked over by several people it might be a deal. I would get it checked by several people who know Boxsters though.

Your list is not too intimidating without all those dash lights. Many dash lights on though for such a low-mileage car.

[COLB]

You can buy a good one for 10k. These things are a dime a dozen. If you can get it for $5000, and drive it into the ground then do it. The moment you start fixing things, you will be upside down.

You won't find a 987 for $10k, unless it has a grenaded engine, or is salvage.

Not saying this is a steal given the unknown problems, but if the engine is sound it is not THAT big of a risk.

But sorting it out may not be worth the pain & aggravation.

[bpu699]

Originally Posted by COLB

You won't find a 987 for $10k, unless it has a grenaded engine, or is salvage.

Not saying this is a steal given the unknown problems, but if the engine is sound it is not THAT big of a risk.

But sorting it out may not be worth the pain & aggravation.

141 for sale on cars.com below $10,000. Tend to be the early ones. In Chicago there is a bunch. You can probably find one with an ask of $14,000, and get it below $10,000.

The newer ones obviously cost more. But for the op, I don't think it matters which he gets.

These may not be great, but there might be a good one in there somewhere.

I sold my boxster s years ago, even then they were pretty inexpensive.

On wheeler dealers, they bought one for $3000.

[ficke]

It would be cheaper after a few years to spend a few thousand more up front and buy a better car.
That is not a cheap car.

[COLB]

141 for sale on cars.com below $10,000. Tend to be the early ones. In Chicago there is a bunch. You can probably find one with an ask of $14,000, and get it below $10,000.

The newer ones obviously cost more. But for the op, I don't think it matters which he gets.

These may not be great, but there might be a good one in there somewhere.

I sold my boxster s years ago, even then they were pretty inexpensive.

On wheeler dealers, they bought one for $3000.

I would bet every one of those 141 are 986 Boxsters, not 987. There is a significant price difference in the post-refresh 2005+ cars. They are significantly better looking, both inside and out.

There are not a lot of 987s selling for under $15k -- and almost none under $10k, unless it is being sold with a damaged engine where the IMS failed.

If you see an ad for a 2005+ Boxster for under $14k that you could haggle to $10k, I'd like to see it. I'm sure there might be one out there, but it is either trashed, or a sweetheart price.

Cheap 986 Boxsters are out there -- and they provide a lot of value for the money. But they are not all created equal.

[Matt Monson]

A friend asked me yesterday about a $6800 '99 in the DC area. I asked him if he really wanted a Boxster. He said he really wants a Cayman. I said keep saving.

[COLB]

Caymans are holding their value pretty well.

Nice 06-07 Cayman S are high $20s cars. Probably a $7-8k premium over comparable Boxsters.

[Matt Monson]

That's what I told him. I indicated he should expect to spend $25-30k.

[CountD]

I never really took to the Boxster. I really, really wanted to. When I saw my first Cayman, I said man, that's a Porsche. I really like that car. It's a smoking deal on the used market - looks like what a Porsche should in modern times.

[johnvan8]

Agreed. I think the Cayman is much closer in spirit to an early 911 than the new, overly bloated 991. I remember the 1st time I saw this picture

Thought to myself: we do have an obesity epidemic in the world!

[nota]

flood car ?

[techweenie]

Originally Posted by COLB

Caymans are holding their value pretty well.

Nice 06-07 Cayman S are high $20s cars. Probably a $7-8k premium over comparable Boxsters.

That seems to be the case, which objectively is odd, since the cars are identical except for the top.

[SilberUrS6]

Originally Posted by techweenie

That seems to be the case, which objectively is odd, since the cars are identical except for the top.

Maybe there are less Caymans around than Boxsters? I don't know the production numbers...