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The head gaskets on Boxsters very rarely fail - the problem is more an intermix problem - coolant getting into the oil = big $$ repair bill.
A flashing CEL means DON'T DRIVE....
Personally I wouldn't buy a Porsche that has these symptoms.
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2001 Boxster S (triple black). Sleeping easier with LN Engineering/Flat 6 IMS upgrade, low temp thermostat & underspeed pulley.
2001 MV Agusta F4.
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