Which is a better deal?
 

I am looking at two Boxster S

1) 2001, $23k (very negotiable), 46,000 miles

2) 2002, $24k (firm), 19,000 miles

I have seen pictures, but haven't seen them in person. Both well maintained (according to the owners), and both are 2-owner cars.

There's a lot more that goes into the decision, but based on these to criteria alone... I'd go with newer and less miles.

#2

How much are you going to drive it? In other words, how many miles will you add to the odometer in the next 2 or 3 years? If very few, go for the newer lower mileage model.

However, if you are going to drive it a fair amount each year I'd negotiate the best price I can on the 2001. If it tests clean, buy it. The $ saved versus the 2002 will be a nice rainy day fund for repairs or "mod money".

If a private sale, I would think you could get the 2001 for around $20k, maybe $21k if it is perfect and well optioned.

For either car -- do not skip a PPI. This is an essential buying step for a Porsche given the cost of repair.

Well, I'll likely be driving it around 5k to 7k miles a year.

I just came back from looking at the 2002 car with 19k miles. Equipment included are:
- Sport package (not sure what this includes, but the car has 17" wheels 205/50, 255/40)
- Heated seats
- PSM
- wind defector
- Car looks in great shape, no dings

- No Xenon
- 15,000 mile maintenance not done
- Tires appear to be original ones, so they need to be replaced
- Rear window is foggy

-Power steering was replaced under warranty within the last year
- oil changes were done
-PPI okay with seller, who seems to be a very nice guy

- MSRP was $56k+
- Certified Porsche Warranty until 12/08
- At $24k, is this a bargain, fair deal or bad deal?

More questions: the RMS failures, are they limited to certain years or are all the Boxsters affected by it? If RMS fails, what cost am I looking at? Any other major cost issues?

Here is the other car...under Boxsters, 2nd ad from top (as of now)
http://www.rennlist.com/ads/

It seems like a decent deal... not super incredible... but he's not taking you to the bank either. I think if the car checks out good on the PPI then it's pretty fair.
You do have a little wiggle room with the tires. You could mention that its going to be $1K to replaces those (very soon). Maybe he'd meet you half way... tell him you're not trying to nickle and dime him... (try and not piss him off)
If he refuses, then give him an honest offer and keep shopping... unless people are kicking his door down he'll probably accept.
Make sure its the car that you want though!

#2 sounds problematic.. Low miles and NOT properly maintained tells me someone would rather sell the car than put money into it.

#1 sounds better, imho, but will reserve judgement untill you look at it and report back. The front bumper cap is from a 996 GT3.. Check to see if there was body damange or why it was replaced. Maybe it is a "track junkie" car ;)

While some say buy the newest, some others say buy the one with "reasonable" miles as these cars don't seem to age well if NOT driven frequently enough.

Let KBB, NADA, Edmunds etc help you get close to a price. Realize that February, in the NE, is NOT selling season for a convertible. A buyer should be willing to deal. Perhaps the "firm" price is because of an outstanding loan that needs repayment?

BTW, Original MSRP means nothing. Just shows how much these cars depreciate. IIRC, there were very few changes between '01 and '02.

RMS - Rear Main Seal. There is no cure. Some cars have failures, others do not. It is a small, cheap seal. The issue is you need to drop the transmission to access it. If not leaking, don't touch it. If leaking, consider how much it leaks and if you want to pay say, $1k to get it replaced. If you have to replace it, consider reviewing condition of the clutch and replacement if needed.

The 2001
 

Has lots of subtle mods. The headlights aren't 2001s, for example. Owned by a fanatic, bought another P-car. Short shifter, exhaust, etc.

The problem will be getting a PPI where it is located.

I would ask about the front end and any accidents as there is a lot that isn't "original" in the front end...all to the plus IMHO as very tasteful. Consider that these aren't collector cars, they last 200k if driven and maintained. I'll bet he maintained it well. Wheels are an upgrade, extra set of tires may be a plus if mounted.