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Visit my links below. I bought a high mileage 1997 for $15,000 and found that the cheapest boxster is the most expensive one to own.
For instance, the 97's had lousy top transmission cables that should have been replaced under warranty in late 98 or early 99, just to name one thing about Boxsters that cause $$$ repairs down the road. If that car's had the hard top on for a long time, who knows if the cables were replaced?
Many 97's have had engine replacements. Mine did before I bought it. Also, about half of all boxsters (most all years) have RMS leaks that can be either expensive to repair or they cause a blown engine if they start pouring oil out the seal before you can shut the engine off.
Word to the wise: If you don't have an extra $5k in the bank to potentially spend on this boxster in the first year of ownership, walk away.
For about $3-5k more, you can buy a far newer one with less miles with a 2.7 liter engine in it. The interior will be newer and nicer, the suspension parts won't be worn out (they tend to wear quickly on Boxsters I've discovered) and you'll have a far more reliable sports car.
For what it's worth, if I could rewind the clock, I'd have saved my $15k, added the $10k I've put into repairs (tranny, control arm, struts, coolant resovior, instrument cluster, etc.) and upgrades (litronics, 3-spoke wheel, new shifter, newer seats that weren't sun dried) and had myself a nice 2000S with a 3.2 liter today.
The other thing you simply must take into account is the cost of ownership. The older ones can easily cost you $1500 a year beyond oil changes and tire purchases. Are you willing to spend this or more? Hope so.
The last thing I'd recommend is that you avoid your buddy, who has a good heart but isn't a Porsche expert. Pay a dealership to do a Pre purchase inspection. It will be the best $250 you ever spent. Should you find this amount of money outrageous to have your future boxster checked out by a Porsche-trained technician, don't buy a Porsche. They ain't cheap to own or operate.
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