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Old 01-05-2016, 02:37 PM   #1
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Originally Posted by Perfectlap View Post
Was the seller previously in the business of rating mortgage securities circa 2008?
Although in his defense he provides better guidance here.
What is the mileage?
Haha, yeah, apparently that was the info he got from the service shop. The car has 89k miles on it. It was a one owner till last year. It appears to have been traded in, went to auction and this guy bought it to flip it. Here is the link to the car: Gorgeous *2002 Porsche Boxster S*
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Old 01-06-2016, 06:30 AM   #2
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Originally Posted by johnrhopkins View Post
Haha, yeah, apparently that was the info he got from the service shop. The car has 89k miles on it. It was a one owner till last year. It appears to have been traded in, went to auction and this guy bought it to flip it. Here is the link to the car: Gorgeous *2002 Porsche Boxster S*
I would look for a lower mileage car. At 90K miles, this car needs have a pretty extensive list of repairs that were not deffered. And even if they were addressed ($$$$) you would need to know in great detail how that one owner looked after the engine. You're not really buying a Boxster, you're buying a Boxster engine. The rest of the car is worth shockingly little without a good engine. Those other parts are just expensive liabilities. Make sure the engine is 100% sound before you commit to potentially spending $4K on a new clutch IMS, $4K on a suspension overhaul, $2K to proactively address the all important water pump, coolant tank, hoses, etc., $1K on new tires, and other known weak spots like the AOS. I racked up similar mileage to the car you are considering (~9k miles per year) and had to do all the aforementioned repairs before it hit the 100K mile mark. And no matter how much you pour into a high mileage car, the value will remain low unless you sink some serious money into the engine rebuild.
If I were you I would look for a lower mileage car, enthusiast owned and spend a little more up front to avoid the hassles later.
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