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Originally Posted by ollie526
Thanks everyone for all the great feedback. It is extremely helpful.
The allure of the low pricetag Porsche tends to shield some reality of buying an old car. The adage "You get what you pay for" and "cars are terrible investments" seems to always ring true.
Now I'm wondering if I'd be better off with a similar car that I know was taken care of. This one ( http://newyork.craigslist.org/wch/cto/1733841693.html) for example has 7k of new parts in the last two years. This car has a blue book value of about 8k, so if I could get the seller down, I may be saving myself money in the long run. Thoughts? |
So ollie526, what did you end up with?
If the $5500 is otherwise in great shape, that is a good price even for a roller. If you're willing to moonlight as a your own mechanic, it could be a great buy. I know I love tinkering with cars to defy the grim reaper. If you're afraid to break up your knuckles and get some grease in your hair... then this can set you back much more than the fine car you could have bought for $20k.