Motor failure - how common REALLY?

[23109VC]

I've been scanning this site for a while. I've been looking into a third sporty car for the garage. I'm looking VERY hard at used boxsters. Also considering an s2k.

briefly toyed with the idea of an rx8 as they are dirt cheap and the rear seats woudl come in handy for a guy like me with three kids, but this car is a toy/weekend car that I will drive to work once in a while too...and on those trips, I rarely have kids with me.

anyway, on these forums I 've seen a lot of posts about motor failures. people saying "another one bites the dust" does not sit well with a potential used boxster buyer. then I see the bill for a new motor is pushing $10-15k and I cringe.

I can afford a used boxster in the 15-20k range. but NO way will I have the dough for a new motor. I mean I coudl borrow that money if I had to, but it woudl hurt.

are these posts just a concentation on the web of the unfortunate few who have had motor failures - or is this really somewhat common???

pricewise, I am looking to finance 15-20k. assuming i only spent 15k, at 5% over 60 months, I'd be paying about 300/month. in 5 years i own the car.

honda is doign a lease deal now on s2000s where I can lease a brand new 08 for nothign down except first months payment and my monthly would be just a hair under 400/month. like 390-395. that's with NO cap reduction. sign and drive. it's not the deal they advertise but i know a guy who just negotiated this deal. so $400/month would be my ONLY cost. i'd buy some tires and brakes and gas. but no motor failures or other $1000 visits to the shop.

i'm partial to the boxster. it's a better car to me. i love the look and sound. the s2000 is in some ways a compromise to me. it is very cramped and noisy. small trunk...

but the big $$$ repair bills worry me.

300/month over 5 years would be cheaper - in that at the end of 5 years, i'd own the car, and say that 15000 car is worth 6000-7000 at the end of the loan, i have a net worth asset - and i've spent under 10k. BUT repairs over the 5 years could add up to or exceed 6-7000? a motor failure plus other "normal" stuff woudl cost more than the price of the car, assuming 15k purchase price.

am i paranoid and these IMS failures are extremely rare horror stories.. OR if I am goign to purchase a 2000-2001 boxster or boxster S that has 50-75k miles on it - am I pretty much rolling the dice and I have a 10% chance, 20% chance, 30% chance, 50% chance, etc of having the motor crap out on me?

i posted earlier in a thread on true cost to own and some of you said to get the s2k if I worry about this so much. it's not that I want the s2k. believe me, i woudln't be here on this forum if I wasn't really interested in the s2k..and part of me wonders if in the end i'll just risk it and get one - beause I want one that much... but the $$ end of it is a concern.

my dad has a 2000 base, he is the second owner. bought it with 20k miles and now it has 75k. he's had hardly ANY problems with it. is that more the norm or is HE the lucky one?

it's hard to compare a used older car vs a new one (leased) then try to figure true cost to own comparos. the boxster would have to be maintaned and buy parts for if i got one with 50-75k miles on it..whereas a new leasede s2k would probably have literally NO mechanical issues and if it did, it's all warrantied.

hey - what is the oldest boxster / mileage I coudl get and STILL get a porsche or SOLID QUALITY third party warranty on it? i've seen a handful of used boxsters adertised for sale that have extended warranties that go quite long. if i recall correclty, i've seen 2001 or 2002 models claiming they are warranted into 2010 or 100k miles..making me think it WOULD be possible to buy aused one...and still have at least a couple years or "worry free" driving..if I found one with the warranty, or bought one on my own.

can I buy a 2002 boxster that has 65k miles and then buy a warranty on it..or will they say it's OUT of warranty and you can't add it? on former cars I remember thining i needed to buy the extended before the OEM warranty ran out. same true on a boxster?

[Brucelee]

I used to be a Porsche dealer and I am the co-owner of this site.

IMHO I would NOT own a used Boxster out of warranty. That is my personal choice, one that cannot be justifled or denied by DATA, which is simply not available.

As to the warranty availability, you have two basic ways to go. To be a Porsche extended warranty, you will have to buy a CPO car from a Porsche dealer.

Your other choice is an aftermarket warranty. The rules on these all vary, so check them out BEFORE you buy any Boxster.

And always get a PPI on any Boxster you are considering BEFORE you buy it.

Good luck. Do more searches on this site for some great buying tips BEFORE you buy.

[rick3000]

Brucelee pretty much covered everything that is recommend for new Boxster owners.

No one knows the frequency of engine failure, but I will say this. More people with problems post here, than people that don't have problems. In the lasy year 3 maybe 4 people have had an engine failure. Engine failures don't happen as much as they are discussed here, but they do happen.
Two relatively new members just had engine failures in the last few months.

[23109VC]

i think to feel fully at peace with the purchase of a used boxster, I'd want a warranty.

do you know how old of a car one can purchase and still qualify for a third party warranty?

say I find a sweet deal on a used 2000 or 2001 - can you get coverage on a car that old?

the CPO stuff is more than likely quite a bit out of my price range. 20k is as high as I want to go. I maybe could talk the wifey into 25k...but boy would I be in debt to her.. i can see the new jewelry and handbags now...

[rick3000]

Generally, most warranty places won't sell a warranty to a car that is over 10 years old.

[Adam]

Question for the original poster. You said that you are also considering an S2000 and Rx8. Assuming you also visit those forums are there ever any reports of engine failures on those vehicles or is that completely unheard of? Just curious.