Quote:
Originally Posted by southernstar
No, you didn't make a huge mistake. Virtually all 986 and early 987 Boxsters are selling very cheaply in relation to the design, handling, performance and status they provide and one of the reasons for that is the issue with respect to the IMS bearing.
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I think that may be overstating that a bit. The supply of second hand Boxsters and Carreras is big relative to the what Porsche has traditionally seen. Even if there were no IMS issue at all, the average buyer would avoid an out of warranty German car that requires specialized labor and expensive parts. Porsches have a huge reputation for being expensive to maintain. That imbalance between huge supply and limited potential buyers is going to put the advantage towards the buyer and not the seller on an indefinite basis. For the IMS to be a reason for depreciation, enough of the buying public would need to know what an IMS is in the first place. A first time buyer of Porsche will by and large only become aware of the IMS by doing online research. Once they've actually done that BEFORE the purchase (unlike our OP it seems), which I'm guessing only a fraction will actually take the time to do -- and even fewer will pony up for an actual Prepurchase Inspection (also unlike our OP) -- they will also learn in short order that the IMS issue is simply a matter of doing some preventative parts swapping. For nearly every reference to IMS there is a reference to LNE or Flat6 on all these forums. So you get the warning with the solution in virtually every thread.
Frankly I have to wonder if air-cooled Porsches were manufactured in the large numbers that Boxsters/Caymans/996/997 were if they would be holding value like they do. There simply aren't enough buyers with the means or nerve to buy an out of warranty Porsche to absorb the huge prodution numbers no matter how over or under-engineered the engines might be.
Rebuilding an air-cooled engine is just as big a case of wallett shock and awe for a buyer on a limited budget as the threat of an IMS implosion. As my mechanic said about antique 911's, "you just have to be ready to drop $10K". Most with modest means don't have a $10K emergency cash fund for real life emergencies let alone such a sum for a man toy budget.
p.s.
Meat Head, loved you on All In the Family by the way, if a blown engine is going to put you in the poor house then you should probably try to flip the Boxster for a tidy profit. Porsche ownership is inherently stressful and inherently expensive. Labor really sin't the big expense it's the parts. I had my Boxster in for repais a couple years back, it took weeks to get it back and the repair bill was over $5K. You could easily have back to back repairs in this car that can equal a third of the car's purchase price.
The best thing to do is to buy a certified pre-owned Porsche if you are the paranoid type or can't afford to lose your whole investment.