Advice on 2008 Boxster Value

[Porsche Fun]

All - I'm currently looking at a manual trans -2008 RS 60 Boxster with 8,000 original miles. The gentleman bought it new and has a major case of OCD so even a spec of lint on the calipers drives him crazy - Boxster stays in a climate controlled garage year around -- exterior color is silver with the Red interior - Black top car cover - Porsche Battery Tender - etc - etc - etc - he would like me to pay $40K for the car which I feel is a bit over the top - more like $35K - $37K realistic to me price, am I crazy or are these things really worth that? Thank you for your help and feed back on this Boxster. I don't have any photos to share at this time,

[Nick Triesch]

Well, this is really a super Boxster. Over 300 H.P. All kinds of extra stuff. $37,000 sounds about right with that mileage. Check NADA used car prices. Really not in Hagerty yet. I come up with $35,000 to $37,000. It would be like a brand new car.

[COLB]

Edmunds lists a Boxster RS60 with 8k at $39,907 outstanding retail, and $37,462 private party.

NADA has a regular 2008 Boxster S with 8k miles at almost $40k at clean retail. Mid-thirties 3rd party/trade-in. Not sure what the bump for an RS60 would be. But presumably something.

This dealer is asking $53k for the same car with 12k miles:

2008 Used Porsche Boxster RS 60 Spyder at CNC Motors Inc. Serving Ontario, CA, IID 9678836

This dealer is asking $34,577 for a 2008 RS60 with almost 38k miles:

http://www.napletonsastonmartinofchicago.com/used/Porsche/2008-Porsche-Boxster-0dd5d70e0a0a00023fafc743abc80399.htm

$40k sounds like a retail price, but doesn't sound out of the ballpark if it is as well-kept as described. These don't really grow on trees, so if you want on, and it is local, I don't know if a couple of grand would be a deal breaker.

Maybe he will knock off a grand to close the deal since ya'll don't seem very far apart.

[techweenie]

I looked at one just like that at $38K last Fall. Very fair pricing, in that the majority of the ones with red interiors had red tops, which were far less appealing than the red interior/black top is. Fantastic car, BTW, had I room for a 3rd car, I'd own one of those in a heartbeat.

[Porsche Fun]

Thank you all for your help on the pricing... just never know anymore with the sky rocket pricing of the Porsche cars period.

[COLB]

Boxsters and 996/997 are totally different animals from the air-cooled cars, which are all still appreciating. Even the plain Jane 1.7L 914s.

Basic 986 Boxsters are still depreciating to dust, and the floor on Boxster prices is all that is keeping 996s above $15k.

The post-2008 (corrected) Cars -- without the IMS -- may do better, but they are still used cars at this point. RS60 and Spyders will do the best, but they are cars to buy & drive.

I expect they are going to lose another 25% of their current value before their depreciation curves start to bottom out around the $25-30k mark.

[Matt Monson]

Agreed. Price seems about right for this car but unless you park it and only drive 1000-2000mi a year it will fall in value. They are only low mileage if you don't drive them.

[Nick Triesch]

It is amazing to me that these cars are losing their value so fast when they do everything better than the old Porsche cars. Handling, brakes, steering, 0-60, 0-100 100 back to 0. The Boxster and Cayman are the best deals out there for a sports car. I know the 2009 Cayman was the first year not to have the IMS.

[COLB]

The 2007-08 M97 engines got much better IMS bearings, and they are much less likely to grenade.

The stigma will still affect them for a while, though.

Nick is correct that 2009 engines were redesigned without an IMS bearing.

[KNS]

Originally Posted by COLB

The 2007-08 M97 engines got much better IMS bearings, and they are much less likely to grenade.

The stigma will still affect them for a while, though.

Nick is correct that 2009 engines were redesigned without an IMS bearing.

I'm less concerned with the IMSB in those models and more with other problems that have cropped up in the last few years - Cylinder bore scoring and broken rod bolts to name a couple. While still very rare they are expensive show stoppers.

[techweenie]

IMSb upgrade was in 2005 - mid-year and onward. Failure rate - which was low in previous generations - appears to have dropped by 1/2.

Because the later IMSb-equipped cars were not included in the class action suit, it's mostly anecdotal evidence. But if you look on eBay at the number of Boxster gauge clusters showing 150K-plus miles, you can infer that a lot of those engines are lasting a long time.

[Nick Triesch]

While a Boxster motor could be expensive to repair, any air cooled top end is also very expensive to repair. Porsche cars just cost a lot to get fixed. That would not stop me from buying say a 2008 Boxster or Cayman. You just do not hear or read about ims failures anymore. Or cars advertised with new motors because of ims problems. At least I don't.

[Menmojo]

I own a 2008 Boxster RS60 Spyder. It's my wife's daily driver. She loves it and wouldn't trade it for any other car on the road right now.
I think at current prices they are a great buy for a used Porsche. Do I think they are investment cars....No. In 25 years they will likely be collectible since they only made 1960 of them. I wouldn't buy one thinking it's a long term investment. I would buy one if you're looking at a great fun car that will likely hold it's value going forward better than most other used cars. I fully expect that these will continue to decline in price just like any other used car, just at a slower pace.

[COLB]

I have read that all Caymans (2006 was the first model year) got improved bearings, but some 2005 987 Boxsters did not. That may be wrong, but Porsche has not been particularly forthcoming with facts to define the scope of the problem, either.

There are still cars grenading engines out there. There are a couple on craigslist in the DC-area.

Regardless, it is the stigma and perceived risk that has driven down prices for all 986/987 cars, not facts.

They are great bargains right now. I'm thinking about buying my daughter one.