It sounds to me like you're trying to keep up a hobby you enjoy while making a little money or at a minimum hit BEP (break even point), all without putting out a great sum of money before you sell the car.
If that's your plan I would say it will NOT work with water cooled Porsches. The cars that can most insure you get your money back, air cooled, are expensive to buy now because of their limited availability, so right off the bat before you've bought a single spark plug you've committed a great deal of money. The costs to restore the car can easily mushroom out of control. And the buyers will not pay top dollar unless the car is worked on by someone with a great deal of experience with Porsche.
Meanwhile, the problem with the water cooled cars is that people who can afford to maintain and repair these cars are not generally interested in keeping them long term, they dump them to buy a new car. And the people who will buy an old sports car by and large are skittish about German luxury brands. So you're catering to a very small pool of buyers who will all drive a hard bargain. If your costs get out of control you'll be lucky to sell at a profit.
I think your current plan is better, stick with popular Japanese cars. These have more buyers, and those buyers see these cars as daily drivers and scratch the sports car itch.
If you like a 928 or 944 it's good that your handy because eventually the only people driving these cars will be DIY'ers because of the costs of parts and labor will be too high for most. As far as the 986/987 and 996/997, their futures are a bit uncertain. High mileage examples will need costly engine work to address lifters, IMS/clutch, water pump, AOS, etc., the costs of these in parts can easily exceed the value of the cars, definitely once you add in suspension overhaul. Sure you can buy a roller and drop in a low mileage donor engine but that's going to scare off many prospective buyers who, as Warren Buffett would say, generally avoid buying what they don't understand, unless it involves home mortgages.
Quote:
Originally Posted by Prelude Guy
Hi all,
First off, I wanted to introduce myself. I am new to the forums. My name is Andy. I have been a car-guy my whole like. I was 9 when my dad bought his new 1986 Honda Accord and it's the car that got me into cars. Obviously, I am a Honda guy at heart. I love all cars though. My username is because of my old 1992 Prelude Si 4WS with a JDM VTEC swap in it. To date, the most enjoyable car to drive and own to-date that I've owned.
I currently have 4 cars. 2 projects cars -1989 240SX hatchback with an SR20DET engine swap with basic bolt-ons and a Garrett GT2560R turbo and a 1997 BMW M3 coupe with minor bolt-ons. My daily driver is a 1997 Honda Accord LX station wagon with 275K miles. I installed several OEM Prelude upgrades as well as a 2.3L SOHC VTEC Honda Accord F23A engine from the 1998-2001 chassis. Planning to do some minor suspension upgrades and possibly a 220HP Euro R Accord H22 swap with LSD trans soon. Finally, I still have the first car I bought brand new. A 2001 BMW 325ci automatic. Completely stock with OEM 18" wheels from a 2009 335i. Never driven in the snow and rarely in the rain. Fantastic shape.
Ok, with that out of the way, I have somewhat of a weird question for you. As you can see based on the cars I drive, I like cars from the 80's, 90's, and early 2000's. I am a little older now and have decided, even though I can afford ~$100K car, I prefer to buy older cars. There's just something about the older more raw cars from that time. I don't enjoy the driver-assisted cars of today. In fact, I think my attitude towards new cars is widely shared and is growing in popularity. I think the trend we will see is car-guys will likely still buy new cars, but they will also look to own an older car as their "fun car"/weekend car.
A little background on what I do with cars. I have been buying up older cars, fixing them, keeping them as close to stock, but mainly focusing my efforts on refreshing the car and bringing them up-to-date on the maintenance. The emphasis is on making the car better than when it came from the factory. Like with my 240SX. I bought a clean chassis that had a blown engine. I planned on swapping out the engine. I did the fewest modifications to make more power, but still be as reliable as possible. The rest of the money went towards refreshing the suspension with as many OEM/300ZX OEM upgrades/Nismo parts as possible. Things like shocks and springs are aftermarket, as well as exhaust, strut tower bars, anti-swaybars and wheels. The end goal of my cars are to be a car that enthusiasts want to buy since most older cars are hacked up and pieced together with aftermarket parts without any attention to normal maintenance.
My three used cars have proven to be good investments. I can sell my 240SX, M3, and Accord wagon for as much as I have put into them, if not more. I bought all 3 when the market for them hit rock-bottom. Bought my 240SX for $750 12 years ago, M3 for $4K 4 years ago, and my wagon for $2500 4 years ago. I think as time marches on, they will continue to go up in value as clean cars from that era will become harder and harder to find, especially in good condition.
This thought process has led me to here. I planned on adding a 1987+ 928 and a 1987-1989 944 to my collection and do the same thing to them a few years ago when they were selling for next to nothing. I missed out on those two cars. I noticed the Boxster has hit the bottom. I never really cared for the Boxster because I preferred the S2000. I think the 986 Boxster is an under-rated car - then and now. I feel this car will become more desired as the years pass by, mainly because they will become rare since many are blowing engines at an alarming rate.
So my question is, do you guys think the 986 would be a good car to do what I have done to my other cars? Pick up a roller for around $2500, focus the money on making the engine reliable (seriously considering a rebuilt and upgraded 2.9L from a company like Raby). Can you see a 986 with all of the engine issues resolved, everything works, and is well-taken care of selling for around $20K in the next 5-7 years? I can see that happening.
Your thoughts?
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