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I bought a 2002 S with 43000 miles on it in April. The only problem it had besides needing tires was the boots on the rear axles were both cracked and the grease on the cv joints was missing.
This seems to be a common problem with the boots, they dry out and crack and the grease then gets thrown out. If this is the case, Porsche recommneds replacing the axles due tot he wear that occurs on the cv joints, this will cost around $2000. I've been told to spray silicone on them at every oil change to keep them in good shape.
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