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A quick look on Craigslist in the North-East found one S at less than $10k. So even with high mileage $7100 looks like a good price to me. If the engine has to be replaced a lower mileage replacement will not put the total expended much more than the price of another S.
My take on buying old cheap cars in general and Porsches in particular is to look at it as buying a disposable... it ain't an investment. I look at the price, the fun I will have owning and driving the car and if I can lose 50% of the price without ending up living under a bridge. I figure if the worst happens I can get 50% back on resale of parts if necessary.
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Grant
Arctic Silver 2000 Boxster S - bought with a broken engine, back on the road with the engine replaced
Green 2000 Boxster 5-speed and 1978 928 auto
1987 924S 5-speed (Sold) - Blue 2000 Boxster 5 spd (Sold)
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