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Originally Posted by thstone
Doing a project like this can be great fun and a wonderful experience but any 35+ yr old Porsche that sells for $750 is, by definition, going to be a money pit. If you have several thousand $$$ to get the car into decent running shape, then go for it; otherwise take a pass.
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I have been down this path with non-Porsche cars before and I think there is a universal truth that a free car, or essentially free, is never a good deal. When you start restoring it, you will find that the acquisition cost of the vehicle itself is the lowest cost of the project. You'd be better off to wait and find one that is in great shape - maybe for only a few thousand $$. It will ultimately cost less money and will probably be a much better car when finished.