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Originally Posted by Perfectlap
my advice to you would be hold off on this Boxster purchase.
Acrue some more capital and buy at least a 2000 S.
In two years time a low mileage 2000S - 2003S will be an outstanding deal.
I wanted three things in the following order of importance
1- S power (this cannot be over emphasized).
2. low miles (ditto, there are allot of former garage queens out there to buy)
3. my favorite color.
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I considered the Boxster S, and wouldn't rule it out if a nice one came along. Unfortunately the nice ones seem to be $8-10k above my price range right now. If I buy the 98, I could always sell it and buy an S later.
Here's my thinking: To buy a Boxster now, I need to sell my 94 Miata with 118k miles on it. If I buy a Boxster S in two years, I will still need to sell the Miata, and it will have depreciated more than it has now. If I buy the 98 Boxster now and decide to sell it in two years to buy the S, it will probably have depreciated about the same amount as my Miata would. So, instead of selling a 14 year old Miata in 2008, I would have to sell a 10-year old Boxster. If I drive the cars at the same rate (approximately 11k miles per year), I would be trying to sell a Boxster with 40k on it versus a Miata with 138k on it.
So, under this scenario, I would enjoy the 98 Boxster for 2 years and probably be only a little worse off financially from a depreciation standpoint. Of course, operation and maintenance costs on the Boxster are higher as well, but that comes with the territory.
While it is true that the S has more power, the 98 Boxster is significantly quicker than a 94 Miata. So, I would be experiencing a significant upgrade. If I should need more power later, I will have something to look forward to. Also, I think I might be tempted to treat an S more gingerly and not drive it as much. In my view, I would rather buy a garage queen than sell one.
Of course you guys are more experienced than me with these issues, so I am willing to modify my point of view. I haven't spent any money yet and I am still in a research mode.