Well, well well. Looks as if I am not the only one who wants to learn all his lessons the hard and expensive way, huh Richard? A year ago I too had this EXACT mentality, but I didn't know about this list and the car well enough to make an informed decision. Jamie, good for you to ask these important questions BEFORE you buy an old Boxster.
So as not to make you do a lot of searching through this forum, I have taken the time to dig up a thread I posted a couple of months ago. Here's a snipet:
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I purchased my 1997 Boxster for 15,500 in July of 04. It was 1500.00 under blue book wholesale. What a steal, right? It even had a brand new engine in it that is valued at 16k plus installation. Thought I had hit the deal of the century, but then the spending began...
$200.00 - Horn pad replacement - (horn went off every time I braked hard so I had to do this)
$160.00 - Second key. $50 Key Remote head from Ebay, blank and programming from dealer
$500.00 - New instrument cluster ($400 on Ebay plus $100 to have it programmed at dealer... mine died and I HAD to replace it)
$1825.00 - Used transmission purchase (82k tranny couldn't keep up with new engine) - Ebay
$375.00 - New Sachs clutch (No brainer to do this with the tranny install)
$180.00 - Brake pads for all four wheels
$900.00 - Labor for brake job, transmission swap and clutch replacement
$450.00 - Front lower control arm replacement & labor (my mechanic did it for half of what the dealer quoted)
$125.00 - Oil change and filter change
$595.00 - Cheap new tires (Kumho's) from Tire Rack-found out boxster eat tires FAST.
$200.00 - Fuel Sending Unit Replacement (they get rusty and stick)
$500.00 - Rear struts replaced (can't afford to do the fronts as well right now)
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Jamie, I did NOT include the cost of the rear speaker kit, wind deflectors, roll bar inserts, 3 spoke wheel and airbag, updated shifter knob, three alignments and a subframe pull $$$ to correct a previous owner banging into a curb HARD, and at least 4 rounds of getting the tires balanced to my satisfaction.
None of this scared me off because it's a toy that sits in my garage, and I am financially in a position to drop this much cash into a toy car to get it in good running condition. If I had purchased this as my daily driver and I was on a tight budget, I'd be freaking out right now... the insurance on it is high, the fuel economy sucks compared to my Honda or even my Lexus LS400, and all these expenses on top of that?
Save your money and buy a boxster priced in the mid $20k's and is 4-5 years old and has low mileage and one owner who loved the car and babied it. There's lots of those out there if you are willing to look and be patient. Just don't jump on an abused, neglected Boxster that's shiney on the outside and has all kinds of hidden problems that mechanics CANNOT tell you about in pre-inspection.
Best of luck to you Jamie, and regardless of what year or condition of Boxster you choose to buy, you're welcome on this forum. If you do buy an old boxster that needs lots of $$ and TLC, you'll find this forum indespensible and the people far nicer than other boards with their snooty attitudes!
PS - Just learned 97-99 boxters develop expensive top problems due to cables that stretch in the mechanism... fortunately, a previous owner replaced mine, but many old boxsters still have the original ones, not the newer reinforced ones. Look for that when you're shopping.