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Giving the money back..
may make you feel better but you have no way of knowing that the car being returned is in the same condition it was when sold. The guy may have been buzzing the motor when cold (or worse) for all you know.
As others have suggested, making an offer to split the difference on the repairs would be a VERY generous offer. His lack of knowledge on the market price of the car is his problem as is his choice of not doing a PPI.
The reality is that this is a used car and any prospective buyer should expect that the car is not perfect; that's why he isn't paying $45K for it!
What ever you do--Don't return his money and take the car back!!!!!!
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2013 Boxster S
2006 Boxster--sold
1999 Boxster--sold
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