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Old 07-02-2017, 06:14 AM   #1
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What is reasonable price for 2001 S

Hi,
new to the forum and not yet a Porsche owner. I found a 2001 S with ~40k from local private seller, after test driving it I had PPI done yesterday. Left CV outer boot torn, but other than that the mechanic said it was about as clean a car as he had seen from 2001. I reviewed the service records, owner (and previous owner) obviously taking good care of. The IMS has not been replaced, but the mechanic pulled oil filter and found no indication of trouble.
My only issue is this - seller is standing firm on price and I think he is asking too much. He listed for $15k, after PPI he is willing to sell for $14.1 as-is so he theoretically came down a little bit.
So I have looked at KBB and NADA Guide, KBB says he is asking $4k too much and NADA says about $2k too much. Any advice on whether I am a sucker if I bite?

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Old 07-02-2017, 07:56 AM   #2
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I usually start with the KBB and NADA estimates and then adjust accordingly.

In this instance, the service records, relatively clean PPI, and low miles all indicate that a bit of a premium might be reasonable.

On the other hand, lack of an IMS replacement on a low mileage car is a bit of a detractor.

With all of this being said, its hard to justify the premium price. Would you be a sucker for paying it? No, its your money and if this is the car that will make you happy, then who's to say otherwise?

If the seller is unwilling to come down any, then you'll have to decide if this car at this price is THE car for you and only you can decide that. I'm glad that if you do pull the trigger, you also realize that you probably are overpaying a bit.

Here in LA, Porsche's are on every corner so I would never overpay since there are a lot of fish in the sea. Not sure if this is the situation in Cincinnati so I understand that local supply/demand can skew things in one direction or another.

Wish you the best whatever your decision!
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Old 07-02-2017, 08:13 AM   #3
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Quote:
Originally Posted by tn0 View Post
Hi,
new to the forum and not yet a Porsche owner. I found a 2001 S with ~40k from local private seller, after test driving it I had PPI done yesterday. Left CV outer boot torn, but other than that the mechanic said it was about as clean a car as he had seen from 2001. I reviewed the service records, owner (and previous owner) obviously taking good care of. The IMS has not been replaced, but the mechanic pulled oil filter and found no indication of trouble.
My only issue is this - seller is standing firm on price and I think he is asking too much. He listed for $15k, after PPI he is willing to sell for $14.1 as-is so he theoretically came down a little bit.
So I have looked at KBB and NADA Guide, KBB says he is asking $4k too much and NADA says about $2k too much. Any advice on whether I am a sucker if I bite?
He's asking too much with or without a PPI. should be able to pick up a 2003 or 2004 for that much, in about 100 to 200 mile radius of you.
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Old 07-02-2017, 10:20 AM   #4
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I think he's high but you are in the best position to determine what's a 'good deal' for you. For $15K, I'd expect to buy a car that needs nothing done right after purchase.
I'd expect full receipts.
I'd expect a documented IMS and RMS replacement.

In our area of NW Florida, current Craigslist offering have been...
2003 S Tip with 82K miles....asking $9.9 (and sold but I don't know what for)
2002 Base manual with 80K miles asking $7.77
2001 S Manual with ~100K for $7.8k (sold)

I did not look at any of these cars so I can't tell you anything about condition.

I can tell you that I about bought a 2010 Base 6 speed with 89K miles back in March...I offered $16K and the non Porsche dealer, after having the car on the lot for three months, was down to $16.8K. The thought of having a non-IMS Boxster was very appealing but every time I took a test drive, I didn't feel like the car was any more fun to drive than my 2000S.
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Old 07-02-2017, 12:28 PM   #5
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I paid $14,500 for my 2004 S manual. It didn't need anything, and has a DOF IMS, but I did replace the trailing arms early this year.

It came first in my category in People's Choice at the recent PCA Region 1 Consourse, so it is in very good shape.
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Old 07-02-2017, 12:40 PM   #6
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He's asking way too much.
$10k is the most I'd pay. Preferably closer to $9k.
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Old 07-02-2017, 02:23 PM   #7
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I have a 2001 S with a Raby 3.6 high performance engine, final solution, full fabspeed exhaust, new suspension, rebuilt transmission and I would be lucky to get 15k


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Old 07-02-2017, 04:26 PM   #8
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I sold a 2001 S with complete docs (and no questions about the IMS from any potential buyer) 5 years ago for $13.5k cash with 60k on it needing a rear window or new top but with a brand new battery and 4 new Michelin tires. It sold in 4 hours from posting on CL.

So 5 years later, with such low miles making an IMS replacement even more suggested is $14k high? All prices are an opinion, prices are influenced by when you sell it and now is high season, and sometimes the location matters. Options can sightly influence the price. Even the date of manufacture and brand and type of tire, wheels, radio, interior fabric, etc.

In the long run, buying a good car may be more important to your happiness than the absolute lowest price.
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Old 07-02-2017, 06:28 PM   #9
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It does seem high. Questions to ask yourself. What would you feel comfortable in paying? Can you afford it? Or are you stretching to afford it? Can your budget afford the maintenance on these cars?

Don't feel obligated because of the PPI. He may think he has you because of the PPI. Follow your gut and not your emotions. Make your offer and let the seller counter or tell you no. Keep looking, you will find your car.
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Old 07-02-2017, 08:31 PM   #10
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+1 for above reply.
There are LOTS of 986 Boxsters for sale. Offer what you're comfortable with and see what happens!
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Old 07-03-2017, 03:07 AM   #11
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Mine is For Sale. Asking US$225,000

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Old 07-03-2017, 06:00 AM   #12
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Even better, wait a few months. Sellers are more anxious and prices are much better when winter approaches. September is good, October is better, November even more so.
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Old 07-03-2017, 09:52 AM   #13
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Clean cars with receipts will be harder and harder to find as time goes on. It was tough 5 years ago when I was looking for mine, I can imagine it is even tougher today. There is value to that, but how much is really up to you. Are you looking to keep this car long term or just to have some short term fun? If I were to sell my 2001 S today, with no IMS, I would want somewhere around 12K, less than that and it would not be worth it to sell. Even then, I am at the point that it would be silly to ever sell it!
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Old 07-03-2017, 10:40 AM   #14
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Even then, I am at the point that it would be silly to ever sell it!
+1

Bump - Price reduced: US$200,000

Open for trade also, come up with 5KG of 99% pure Colombian Cocaine + a 2x prostitutes membership for a week, and we'll talk. That coke got to be y/ 2017, not interested in last year's stocks sorry.

Can't seriously think about anything else that would provide an 'equivalent' amount of fun as the occasional/weekend topless roadster here. A skinny $10k just won't do it... I'll regret it.
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Old 07-03-2017, 01:06 PM   #15
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I have a friend whose profession is high end preowned car sales. He knows cars, who has what and what is hot. He is very good at what he does.

When asked "what is my car worth?", his very serious response is "whatever someone is willing to pay for it".
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Old 07-03-2017, 08:31 PM   #16
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FIVE years ago, I bought a 2001 S with 87K miles on it for $11.2K. No IMS upgrade, but it has the PSM package with cruise control, and upgraded Kenwood stereo with bluetooth and professionally wired microphone.

You're a sucker if you bite. Give him your info, tell him if he wants to meet your price to call you, and move on. Look beyond local. Every car is a flight away, and the added cost to fly and drive back can be part of the adventure of scoring that good deal for a great car.

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Old 07-03-2017, 10:01 PM   #17
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Having just bought a 2001 S, 3.2l 6speed manual, all leather, heated seats, mirrors, sport package, 18 wheels, etc. with a crap stereo and 111,000 miles on it for just shy of $9,500 I'd say he's asking way too much. The torn CV boot will mean CV joints soon and that's a fairly expensive repair, even if you do it yourself. IMS may still fail on a 40k vehicle, heck it may fail on mine. A rebuilt engine will run you between 6 and 10,000.00 if it fails. KBB prices are very subjective but do give a fair representation of what an exceptionally good condition car is worth. Anything wrong with trim, suspension, engine/transmission etc, drops the value significantly. Also, keep in mind, resale value is nonexistent at this point. These cars are not appreciating yet. They may in time but right now, no. Being a 2001, it has a plastic rear window which will likely need replacing and that means a new top at $500+ if you install it yourself (not an easy task)... I'm in California so, I've no idea what the market is like in Ohio but, that price does seem high to me. Looked at one with the same mileage as yours in Colorado before I bought mine and it was under $9,000.
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Old 07-05-2017, 06:49 AM   #18
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My 2 cents, I "paid to much" for mine. I live in Lansing,MI and a Boxster is not a terribly common car. In my search, I did not feel comfortable flying somewhere to get the best possible price. I didn't feel confident in my ability to remain objective and walk away after investing in a plane ticket and trying to arrange a PPI in a city that I didn't know. In limiting my search to a 200mi radius it gave me a better chance of really looking at the prospect as objectively as I could. [if that's possible with a car like this] The closer by I could find THE car, the better I was able to really closely inspect and evaluate the total package. I am talking about the actual car, the service history and find out what I could about the previous owner. I found my 2001 S 70 miles from home and was able to do this. I spoke with the service advisor at the Porsche dealer [not the selling dealer] who maintained the car and he said "Oh, you are looking at Franks car" This was also close enough to home base that I could have my Indie go over it, and give the green light.
I bought the car in May of 16 and I have enjoyed this car much more than I expected. A big part of the fun has been feeling comfortable with learning as much as I could about the history of this car. Yes, the price was a bit higher than it could have been. I would do it over again in a heartbeat. John
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Old 07-05-2017, 07:33 AM   #19
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Give him your info, tell him if he wants to meet your price to call you, and move on.
That is pretty good advise.

If the Boxster is very very clean, has the options that you want, it is the color combo you want .. I would continue to pursue it. Paying a premium price (within reason) to get what you want is sometime worth it.

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