Can't believe we own a Porsche Boxster!

[Perfectlap]

This is a prime candidate for IMSB issue. Did the previous owner change the oil at least once per year? The longer that oil sits without it running under full load (i.e. the car has to actually be driven) the more trouble you're looking for.

But it sounds like you paid a competitive price. Good job. You never ever want to overpay for an out-of-warranty German car that was mass produced (excess supply everywhere) and the average buyer is not brave enough to buy.

You have to think of Porsche ownership this way. There are air-cooled cars and there are water-cooled. With water-cooled, you are buying an engine and the rest of the car has little if any value. The higher the mileage the closer you are to having issues and these cars by and large are not candidates for engine rebuilds like the air-cooled because the cost of rebuild exceeds the value of the car. Air-cooled cars were produced in such miniscule numbers (Porsche couldn't give them away at one point) that the scarcity today makes them well worth $10K+ engine rebuilds. An ironic but lucrative twist of fate but you can't argue with excess supply in the market.